<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 2002-7
                         RECORD DATE: NOVEMBER 28, 2003
                      DISTRIBUTION DATE: DECEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                    Certificate  Certificate      Beginning
                       Class     Pass-Through    Certificate      Interest
Class      CUSIP    Description      Rate          Balance      Distribution
-----      -----    -----------  ------------      -------      ------------
<S>      <C>        <C>          <C>           <C>              <C>
  A      81743YAA5      SEN        1.46000%    436,160,825.58     530,662.34
 A-R     SMT0207AR      SEN        3.50878%              0.00           0.00
 B-1     81743YAE7      SUB        1.87000%      8,080,000.00      12,591.33
 B-2     81743YAF4      SUB        2.64392%      5,771,000.00      12,715.04
 B-3     81743YAG2      SUB        2.64392%      3,463,000.00       7,629.90
 B-4     SMT0207B4      SUB        2.64392%      1,442,000.00       3,177.11
 B-5     SMT0207B5      SUB        2.64392%      1,154,000.00       2,542.57
 B-6     SMT0207B6      SUB        2.64392%      2,600,498.71       5,729.59
 X-1     81743YAC1      SEN        1.00848%              0.00      64,574.82
 X-2     81743YAD9      SEN        1.21159%              0.00     370,951.31
------   ---------      ---        -------     --------------   ------------
Totals                                         458,671,324.29   1,010,574.01
------   ---------      ---        -------     --------------   ------------

<CAPTION>
                                          Ending
           Principal      Current       Certificate      Total       Cumulative
Class    Distribution  Realized Loss      Balance     Distribution  Realized Loss
-----    ------------  -------------  --------------  ------------  -------------
<S>      <C>           <C>            <C>             <C>           <C>
  A      3,014,316.24      0.00       433,146,509.34  3,544,978.58      0.00
 A-R             0.00      0.00                 0.00          0.00      0.00
 B-1             0.00      0.00         8,080,000.00     12,591.33      0.00
 B-2             0.00      0.00         5,771,000.00     12,715.04      0.00
 B-3             0.00      0.00         3,463,000.00      7,629.90      0.00
 B-4             0.00      0.00         1,442,000.00      3,177.11      0.00
 B-5             0.00      0.00         1,154,000.00      2,542.57      0.00
 B-6             0.00      0.00         2,600,498.71      5,729.59      0.00
 X-1             0.00      0.00                 0.00     64,574.82      0.00
 X-2             0.00      0.00                 0.00    370,951.31      0.00
------   ------------      ----       --------------  ------------      ----
Totals   3,014,316.24      0.00       455,657,008.05  4,024,890.25      0.00
------   ------------      ----       --------------  ------------      ----
</TABLE>

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

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                            Beginning      Scheduled    Unscheduled
         Original Face     Certificate     Principal     Principal              Realized
Class       Amount           Balance     Distribution  Distribution  Accretion  Loss (1)
-----    --------------  --------------  ------------  ------------  ---------  --------
<S>      <C>             <C>             <C>           <C>           <C>        <C>
  A      554,686,000.00  436,160,825.58    484.32      3,013,831.92    0.00       0.00
 A-R             100.00            0.00      0.00              0.00    0.00       0.00
 B-1       8,080,000.00    8,080,000.00      0.00              0.00    0.00       0.00
 B-2       5,771,000.00    5,771,000.00      0.00              0.00    0.00       0.00
 B-3       3,463,000.00    3,463,000.00      0.00              0.00    0.00       0.00
 B-4       1,442,000.00    1,442,000.00      0.00              0.00    0.00       0.00
 B-5       1,154,000.00    1,154,000.00      0.00              0.00    0.00       0.00
 B-6       2,600,498.71    2,600,498.71      0.00              0.00    0.00       0.00
 X-1              50.00            0.00      0.00              0.00    0.00       0.00
 X-2              50.00            0.00      0.00              0.00    0.00       0.00
------   --------------  --------------    ------      ------------    ----       ----
Totals   577,196,698.71  458,671,324.29    484.32      3,013,831.92    0.00       0.00
------   --------------  --------------    ------      ------------    ----       ----
<CAPTION>
                              Ending         Ending
         Total Principal    Certificate    Certificate  Total Principal
Class       Reduction         Balance      Percentage     Distribution
-----    ---------------  --------------   ----------   ---------------
<S>      <C>              <C>              <C>          <C>
  A        3,014,316.24   433,146,509.34   0.78088596     3,014,316.24
 A-R               0.00             0.00   0.00000000             0.00
 B-1               0.00     8,080,000.00   1.00000000             0.00
 B-2               0.00     5,771,000.00   1.00000000             0.00
 B-3               0.00     3,463,000.00   1.00000000             0.00
 B-4               0.00     1,442,000.00   1.00000000             0.00
 B-5               0.00     1,154,000.00   1.00000000             0.00
 B-6               0.00     2,600,498.71   1.00000000             0.00
 X-1               0.00             0.00   0.00000000             0.00
 X-2               0.00             0.00   0.00000000             0.00
------     ------------   --------------   ----------     ------------
Totals     3,014,316.24   455,657,008.05   0.78943107     3,014,316.24
------     ------------   --------------   ----------     ------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                         Beginning     Scheduled     Unscheduled
       Original Face    Certificate    Principal      Principal                Realized
Class     Amount          Balance     Distribution  Distribution   Accretion   Loss (3)
-----  -------------   -------------  ------------  ------------   ---------   --------
<S>    <C>             <C>            <C>           <C>           <C>         <C>
  A    554,686,000.00   786.32023448   0.00087314    5.43340182   0.00000000  0.00000000
 A-R           100.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-1     8,080,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-2     5,771,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-3     3,463,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-4     1,442,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-5     1,154,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-6     2,600,498.71  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 X-1            50.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 X-2            50.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000

<CAPTION>
          Total       Ending         Ending
        Principal   Certificate   Certificate   Total Principal
Class   Reduction     Balance     Percentage     Distribution
-----  ----------  -------------  -----------    ------------
<S>    <C>         <C>            <C>           <C>
  A    5.43427496   780.88595952   0.78088596     5.43427496
 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
 X-1   0.00000000     0.00000000   0.00000000     0.00000000
 X-2   0.00000000     0.00000000   0.00000000     0.00000000
</TABLE>

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

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                                      Payment of
                          Current         Beginning       Current       Unpaid      Current    Non-Supported
        Original Face   Certificate     Certificate/      Accrued      Interest    Interest      Interest      Realized
Class       Amount         Rate       Notional Balance    Interest     Shortfall   Shortfall     Shortfall     Loss (4)
-----   --------------  -----------   ----------------    --------     ---------   ---------   -------------   --------
<S>     <C>             <C>           <C>               <C>            <C>         <C>         <C>             <C>
  A     554,686,000.00    1.46000%    436,160,825.58      530,662.34      0.00       0.00        0.00           0.00
 A-R            100.00    3.50878%              0.00            0.00      0.00       0.00        0.00           0.00
 B-1      8,080,000.00    1.87000%      8,080,000.00       12,591.33      0.00       0.00        0.00           0.00
 B-2      5,771,000.00    2.64392%      5,771,000.00       12,715.04      0.00       0.00        0.00           0.00
 B-3      3,463,000.00    2.64392%      3,463,000.00        7,629.90      0.00       0.00        0.00           0.00
 B-4      1,442,000.00    2.64392%      1,442,000.00        3,177.11      0.00       0.00        0.00           0.00
 B-5      1,154,000.00    2.64392%      1,154,000.00        2,542.57      0.00       0.00        0.00           0.00
 B-6      2,600,498.71    2.64392%      2,600,498.71        5,729.59      0.00       0.00        0.00           0.00
 X-1             50.00    1.00848%     76,838,113.34       64,574.82      0.00       0.00        0.00           0.00
 X-2             50.00    1.21159%    367,402,712.25      370,951.31      0.00       0.00        0.00           0.00
------  --------------    --------    --------------    ------------      ----       ----        ----           ----
Totals  577,196,698.71                                  1,010,574.01      0.00       0.00        0.00           0.00
------  --------------    --------    --------------    ------------      ----       ----        ----           ----
<CAPTION>
                        Remaining      Ending
                          Unpaid    Certificate/
        Total Interest   Interest    Notational
Class    Distribution   Shortfall      Balance
-----    ------------   ---------  --------------
<S>     <C>             <C>        <C>
  A       530,662.34       0.00    433,146,509.34
 A-R            0.00       0.00              0.00
 B-1       12,591.33       0.00      8,080,000.00
 B-2       12,715.04       0.00      5,771,000.00
 B-3        7,629.90       0.00      3,463,000.00
 B-4        3,177.11       0.00      1,442,000.00
 B-5        2,542.57       0.00      1,154,000.00
 B-6        5,729.59       0.00      2,600,498.71
 X-1       64,574.82       0.00     76,146,218.89
 X-2      370,951.31       0.00    365,080,290.45
------  ------------       ----    --------------
Totals  1,010,574.01       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                   Non-
                          Current        Beginning                          Unpaid      Current      Supported
Class   Original Face   Certificate     Certificate/    Current Accrued    Interest    Interest      Interest     Realized
 (5)        Amount         Rate       Notional Balance     Interest       Shortfall    Shortfall     Shortfall    Loss (6)
-----   --------------  -----------   ----------------  --------------    ----------   ----------    ---------   ----------
<S>     <C>             <C>           <C>               <C>               <C>          <C>           <C>         <C>
  A     554,686,000.00    1.46000%        786.32023448      0.95668962    0.00000000   0.00000000    0.00000000  0.00000000
 A-R            100.00    3.50878%          0.00000000      0.00000000    0.00000000   0.00000000    0.00000000  0.00000000
 B-1      8,080,000.00    1.87000%       1000.00000000      1.55833292    0.00000000   0.00000000    0.00000000  0.00000000
 B-2      5,771,000.00    2.64392%       1000.00000000      2.20326460    0.00000000   0.00000000    0.00000000  0.00000000
 B-3      3,463,000.00    2.64392%       1000.00000000      2.20326307    0.00000000   0.00000000    0.00000000  0.00000000
 B-4      1,442,000.00    2.64392%       1000.00000000      2.20326630    0.00000000   0.00000000    0.00000000  0.00000000
 B-5      1,154,000.00    2.64392%       1000.00000000      2.20326690    0.00000000   0.00000000    0.00000000  0.00000000
 B-6      2,600,498.71    2.64392%       1000.00000000      2.20326585    0.00000000   0.00000000    0.00000000  0.00000000
 X-1             50.00    1.00848%    1536762.26680000   1291.49640000    0.00000000   0.00000000    0.00000000  0.00000000
 X-2             50.00    1.21159%    7348054.24500000   7419.02620000    0.00000000   0.00000000    0.00000000  0.00000000

<CAPTION>
                         Remaining
                           Unpaid
Class   Total Interest   Interest    Ending Certificate/
 (5)     Distribution    Shortfall    Notational Balance
-----   --------------  -----------  -------------------
<S>     <C>             <C>          <C>
  A        0.95668962   0.00000000        780.88595952
 A-R       0.00000000   0.00000000          0.00000000
 B-1       1.55833292   0.00000000       1000.00000000
 B-2       2.20326460   0.00000000       1000.00000000
 B-3       2.20326307   0.00000000       1000.00000000
 B-4       2.20326630   0.00000000       1000.00000000
 B-5       2.20326690   0.00000000       1000.00000000
 B-6       2.20326585   0.00000000       1000.00000000
 X-1    1291.49640000   0.00000000    1522924.37780000
 X-2    7419.02620000   0.00000000    7301605.80900000
</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                     4,172,252.21
     Liquidations, Insurance Proceeds, Reserve Funds                0.00
     Proceeds from Repurchased Loans                                0.00
     Other Amounts (Servicer Advances)                            295.99
     Realized Losses                                                0.00
     Prepayment Penalties                                           0.00
                                                            ------------

Total Deposits                                              4,172,548.20

Withdrawals
     Reimbursement for Servicer Advances                          295.99
     Payment of Service Fee                                   147,361.96
     Payment of Interest and Principal                      4,024,890.25
                                                            ------------

Total Withdrawals (Pool Distribution Amount)                4,172,548.20

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                                                    143,539.71
Master Servicing Fee                                                     3,822.25
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------

Net Servicing Fee                                                      147,361.96
                                                                       ==========
</TABLE>

<TABLE>
<CAPTION>
                                   Beginning          Current          Current       Ending
         Account Type               Balance         Withdrawals       Deposits       Balance
-----------------------------      ---------        -----------       --------      --------
<S>                                <C>              <C>               <C>           <C>
Basis Risk Reserve Fund - X-1      1,512.56            0.00             0.00        1,512.56
Basis Risk Reserve Fund - X-2      8,487.44            0.00             0.00        8,487.44
</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>
30 Days        1      149,550.97    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      149,550.97                   0          0.00                     0          0.00

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

30 Days    0.078802%   0.032821%    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%
           --------------------                --------------------                 --------------------
           0.078802%   0.032821%               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>
30 Days       0          0.00       30 Days        1       149,550.97
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       149,550.97

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

30 Days    0.000000%   0.000000%    30 Days    0.078802%   0.032821%
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%               0.078802%   0.032821%
</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  295.99
</TABLE>

<TABLE>
<CAPTION>
                     Original $            Original %        Current $          Current %
<S>                <C>                    <C>              <C>                  <C>
Bankruptcy            100,261.00          0.01737033%         100,261.00        0.02200361%
Fraud              17,315,901.00          3.00000001%      10,161,109.97        2.22999093%
Special Hazard      5,771,967.00          1.00000000%       4,700,000.00        1.03147761%
</TABLE>

Limit of subordinate's exposure to certain types of losses




<PAGE>


                           DELINQUENCY STATUS BY GROUP

                                 ONE-MONTH LIBOR

<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>
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

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>
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

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>

                                 SIX-MONTH LIBOR

<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>
30 Days              1        149,550.97      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        149,550.97                       0          0.00                            0              0.00

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

30 Days         0.093897%      0.039667%      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%
                -----------------------                      ----------------------                     ------------------------
                0.093897%      0.039667%                     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>
30 Days                0               0.00       30 Days                1             149,550.97
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             149,550.97

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

30 Days            0.000000%        0.000000%     30 Days            0.093897%         0.039667%
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%                        0.093897%         0.039667%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
<S>                                                              <C>
Collateral Description                                           Mixed Fixed & Arm
Weighted Average Gross Coupon                                           3.029453%
Weighted Average Net Coupon                                             2.653917%
Weighted Average Pass-Through Rate                                      2.643917%
Weighted Average Maturity (Stepdown Calculation)                             341

Beginning Scheduled Collateral Loan Count                                  1,275
Number of Loans Paid in Full                                                   6
Ending Scheduled Collateral Loan Count                                     1,269

Beginning Scheduled Collateral Balance                            458,671,324.29
Ending Scheduled Collateral Balance                               455,657,008.05
Ending Actual Collateral Balance at 28-Nov-2003                   455,653,546.65

Monthly P&I Constant                                                1,158,420.30
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realization Loss Amount                                                     0.00
Cumulative Realized Loss                                                    0.00
Scheduled Principal                                                       484.32
Unscheduled Principal                                               3,013,831.92
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                  <C>
Pro Rata Senior Percent                               95.092238%
Senior Percent                                       100.000000%
Senior Prepay Percent                                100.000000%
Subordinate Percent                                    0.000000%
Subordinate Prepay Percent                             0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
               GROUP                               ONE MONTH LIBOR          SIX MONTH LIBOR                       TOTAL
Collateral Description                                    Monthly               6 Month Arm                Mixed Fixed & Arm
<S>                                                <C>                      <C>                            <C>
Weighted Average Coupon Rate                             2.860938                  3.064696                         3.029453
Weighted Average Net Rate                                2.485938                  2.689048                         2.653917
Pass-Through Rate                                        2.475938                  2.679048                         2.643917
Weighted Average Maturity                                     301                       302                              341
Record Date                                            11/28/2003                11/28/2003                       11/28/2003
Principal and Interest Constant                        189,141.60                969,278.70                     1,158,420.30
Beginning Loan Count                                          205                     1,070                            1,275
Loans Paid in Full                                              1                         5                                6
Ending Loan Count                                             204                     1,065                            1,269
Beginning Scheduled Balance                         79,334,084.51            379,337,239.78                   458,671,324.29
Ending Scheduled Balance                            78,636,613.03            377,020,395.02                   455,657,008.05
Scheduled Principal                                          0.00                    484.32                           484.32
Unscheduled Principal                                  697,471.48              2,316,360.44                     3,013,831.92
Scheduled Interest                                     189,141.60                968,794.38                     1,157,935.98
Servicing Fee                                           24,791.90                118,747.81                       143,539.71
Master Servicing Fee                                       661.11                  3,161.14                         3,822.25
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                                           163,688.59                846,885.43                     1,010,574.02
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>