Document:

<PAGE>
                                  EXHIBIT 10.1

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

                                SMT SERIES 2004-6
                         RECORD DATE: DECEMBER 31, 2004
                       DISTRIBUTION DATE: JANUARY 20, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                     Certificate                          Beginning
                        Class      Certificate Pass-     Certificate      Interest
 Class     CUSIP     Description      Through Rate         Balance      Distribution
------   ---------   -----------   -----------------   --------------   ------------
<S>      <C>         <C>           <C>                 <C>              <C>
  A-1    81744FCG0       SEN            3.69814%       453,486,508.26   1,397,545.90
  A-2    81744FCH8       SEN            2.69000%       169,260,920.28     379,426.56
 A-3-A   81744FCJ4       SEN            3.01750%       181,126,244.51     455,457.04
 A-3-B   81744FCU9       SEN            3.16000%         3,226,167.21       8,495.57
  X-A    81744FCK1        IO            0.71850%                 0.00     211,781.79
  X-B    81744FCL9        IO            0.59592%                 0.00      12,408.53
  B-1    81744FCN5       SUB            2.91000%        15,725,000.00      38,133.13
  B-2    81744FCP0       SUB            3.29000%         9,250,000.00      25,360.42
  B-3    81744FCQ8       SUB            3.64666%         5,550,000.00      16,865.79
  B-4    81744FCR6       SUB            3.64666%         2,313,000.00       7,028.93
  B-5    81744FCS4       SUB            3.64666%         2,313,000.00       7,028.93
  B-6    81744FCT2       SUB            3.64666%         4,166,584.59      12,661.78
  A-R    81744FCM7        R             3.36251%                 0.00           0.00
                                                       --------------   ------------
Totals                                                 846,417,424.85   2,572,194.37
                                                       ==============   ============
</TABLE>

<TABLE>
<CAPTION>
           Principal        Current      Ending Certificate       Total         Cumulative
 Class    Distribution   Realized Loss         Balance         Distribution   Realized Loss
------   -------------   -------------   ------------------   -------------   -------------
<S>      <C>             <C>             <C>                  <C>             <C>
  A-1    14,641,268.07        0.00         438,845,240.19     16,038,813.97        0.00
  A-2     4,635,297.84        0.00         164,625,622.44      5,014,724.40        0.00
 A-3-A    5,940,192.23        0.00         175,186,052.29      6,395,649.27        0.00
 A-3-B      105,804.95        0.00           3,120,362.25        114,300.52        0.00
  X-A             0.00        0.00                   0.00        211,781.79        0.00
  X-B             0.00        0.00                   0.00         12,408.53        0.00
  B-1             0.00        0.00          15,725,000.00         38,133.13        0.00
  B-2             0.00        0.00           9,250,000.00         25,360.42        0.00
  B-3             0.00        0.00           5,550,000.00         16,865.79        0.00
  B-4             0.00        0.00           2,313,000.00          7,028.93        0.00
  B-5             0.00        0.00           2,313,000.00          7,028.93        0.00
  B-6             0.00        0.00           4,166,584.59         12,661.78        0.00
  A-R             0.00        0.00                   0.00              0.00        0.00
         -------------        ----         --------------     -------------        ----
Totals   25,322,563.09        0.00         821,094,861.76     27,894,757.46        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
 Class       Amount           Balance      Distribution    Distribution   Accretion
------   --------------   --------------   ------------   -------------   ---------
<S>      <C>              <C>              <C>            <C>             <C>
  A-1    500,000,000.00   453,486,508.26     19,690.97    14,621,577.10      0.00
  A-2    185,687,000.00   169,260,920.28      4,583.27     4,630,714.57      0.00
  A-3    196,500,000.00   181,126,244.51     10,235.12     5,929,957.11      0.00
  X-1      3,500,000.00     3,226,167.21        182.30       105,622.65      0.00
  X-2              0.00             0.00          0.00             0.00      0.00
  X-B              0.00             0.00          0.00             0.00      0.00
  B-1     15,725,000.00    15,725,000.00          0.00             0.00      0.00
  B-2      9,250,000.00     9,250,000.00          0.00             0.00      0.00
  B-3      5,550,000.00     5,550,000.00          0.00             0.00      0.00
  B-4      2,313,000.00     2,313,000.00          0.00             0.00      0.00
  B-5      2,313,000.00     2,313,000.00          0.00             0.00      0.00
  B-6      4,166,584.59     4,166,584.59          0.00             0.00      0.00
  A-R            100.00             0.00          0.00             0.00      0.00
         --------------   --------------     ---------    -------------      ----
Totals   925,004,684.59   846,417,424.85     34,691.66    25,287,871.43      0.00
         ==============   ==============     =========    =============      ====
</TABLE>

<TABLE>
<CAPTION>
         Realized   Total Principal   Ending Certificate   Ending Certificate   Total Principal
 Class   Loss (1)      Reduction            Balance            Percentage         Distribution
------   --------   ---------------   ------------------   ------------------   ---------------
<S>      <C>        <C>               <C>                  <C>               <C>
  A-1      0.00      14,641,268.07      438,845,240.19         0.87769048        14,641,268.07
  A-2      0.00       4,635,297.84      164,625,622.44         0.88657592         4,635,297.84
  A-3      0.00       5,940,192.23      175,186,052.29         0.89153207         5,940,192.23
  X-1      0.00         105,804.95        3,120,362.25         0.89153207           105,804.95
  X-2      0.00               0.00                0.00         0.00000000                 0.00
  X-B      0.00               0.00                0.00         0.00000000                 0.00
  B-1      0.00               0.00       15,725,000.00         1.00000000                 0.00
  B-2      0.00               0.00        9,250,000.00         1.00000000                 0.00
  B-3      0.00               0.00        5,550,000.00         1.00000000                 0.00
  B-4      0.00               0.00        2,313,000.00         1.00000000                 0.00
  B-5      0.00               0.00        2,313,000.00         1.00000000                 0.00
  B-6      0.00               0.00        4,166,584.59         1.00000000                 0.00
  A-R      0.00               0.00                0.00         0.00000000                 0.00
           ----      -------------      --------------         ----------        -------------
Totals     0.00      25,322,563.09      821,094,861.76         0.88766563        25,322,563.09
           ====      =============      ==============         ==========        =============
</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
Class       Amount          Balance      Distribution   Distribution    Accretion
-----   --------------   -------------   ------------   ------------   ----------
<S>     <C>              <C>             <C>            <C>            <C>
 A-1    500,000,000.00    906.97301652    0.03938194     29.24315420   0.00000000
 A-2    185,687,000.00    911.53888145    0.02468277     24.93828092   0.00000000
 A-3    196,500,000.00    921.76205858    0.05208712     30.17789878   0.00000000
 X-1      3,500,000.00    921.76206000    0.05208571     30.17790000   0.00000000
 X-2              0.00      0.00000000    0.00000000      0.00000000   0.00000000
 X-B              0.00      0.00000000    0.00000000      0.00000000   0.00000000
 B-1     15,725,000.00   1000.00000000    0.00000000      0.00000000   0.00000000
 B-2      9,250,000.00   1000.00000000    0.00000000      0.00000000   0.00000000
 B-3      5,550,000.00   1000.00000000    0.00000000      0.00000000   0.00000000
 B-4      2,313,000.00   1000.00000000    0.00000000      0.00000000   0.00000000
 B-5      2,313,000.00   1000.00000000    0.00000000      0.00000000   0.00000000
 B-6      4,166,584.59   1000.00000000    0.00000000      0.00000000   0.00000000
 A-R            100.00      0.00000000    0.00000000      0.00000000   0.00000000
</TABLE>

<TABLE>
<CAPTION>
         Realized    Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class    Loss (3)       Reduction            Balance            Percentage         Distribution
-----   ----------   ---------------   ------------------   ------------------   ---------------
<S>     <C>          <C>               <C>                  <C>                  <C>
 A-1    0.00000000     29.28253614         877.69048038         0.87769048         29.28253614
 A-2    0.00000000     24.96296370         886.57591775         0.88657592         24.96296370
 A-3    0.00000000     30.22998590         891.53207272         0.89153207         30.22998590
 X-1    0.00000000     30.22998571         891.53207143         0.89153207         30.22998571
 X-2    0.00000000      0.00000000           0.00000000         0.00000000          0.00000000
 X-B    0.00000000      0.00000000           0.00000000         0.00000000          0.00000000
 B-1    0.00000000      0.00000000        1000.00000000         1.00000000          0.00000000
 B-2    0.00000000      0.00000000        1000.00000000         1.00000000          0.00000000
 B-3    0.00000000      0.00000000        1000.00000000         1.00000000          0.00000000
 B-4    0.00000000      0.00000000        1000.00000000         1.00000000          0.00000000
 B-5    0.00000000      0.00000000        1000.00000000         1.00000000          0.00000000
 B-6    0.00000000      0.00000000        1000.00000000         1.00000000          0.00000000
 A-R    0.00000000      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.
<PAGE>
                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                Beginning                    Payment of
                                              Certificate/       Current       Unpaid
          Original Face        Current          Notional         Accrued      Interest
 Class       Amount       Certificate Rate       Balance        Interest      Shortfall
------   --------------   ----------------   --------------   ------------   ----------
<S>      <C>              <C>                <C>              <C>            <C>
  A-1    500,000,000.00       3.69814%       453,486,508.26   1,397,545.90      0.00
  A-2    185,687,000.00       2.69000%       169,260,920.28     379,426.56      0.00
  A-3    196,500,000.00       3.01750%       181,126,244.51     455,457.04      0.00
  X-1      3,500,000.00       3.16000%         3,226,167.21       8,495.57      0.00
  X-2              0.00       0.71850%       353,613,332.00     211,727.51      0.00
  X-B              0.00       0.59592%        24,975,000.00      12,402.50      0.00
  B-1     15,725,000.00       2.91000%        15,725,000.00      38,133.13      0.00
  B-2      9,250,000.00       3.29000%         9,250,000.00      25,360.42      0.00
  B-3      5,550,000.00       3.64666%         5,550,000.00      16,865.79      0.00
  B-4      2,313,000.00       3.64666%         2,313,000.00       7,028.93      0.00
  B-5      2,313,000.00       3.64666%         2,313,000.00       7,028.93      0.00
  B-6      4,166,584.59       3.64666%         4,166,584.59      12,661.75      0.00
  A-R            100.00       3.36251%                 0.00           0.00      0.00
         --------------                                       ------------      ----
Totals   925,004,684.59                                       2,572,134.03      0.00
         ==============                                       ============      ====
</TABLE>

<TABLE>
<CAPTION>
                        Non-                                 Remaining       Ending
          Current    Supported                                 Unpaid     Certificate/
          Interest    Interest   Realized   Total Interest    Interest     Notational
 Class   Shortfall   Shortfall   Loss (4)    Distribution    Shortfall       Balance
------   ---------   ---------   --------   --------------   ---------   --------------
<S>      <C>         <C>         <C>        <C>              <C>         <C>
  A-1       0.00        0.00       0.00      1,397,545.90       0.00     438,845,240.19
  A-2       0.00        0.00       0.00        379,426.56       0.00     164,625,622.44
  A-3       0.00        0.00       0.00        455,457.04       0.00     175,186,052.29
  X-1       0.00        0.00       0.00          8,495.57       0.00       3,120,362.25
  X-2       0.00        0.00       0.00        211,781.79       0.00     342,932,036.98
  X-B       0.00        0.00       0.00         12,408.53       0.00      24,975,000.00
  B-1       0.00        0.00       0.00         38,133.13       0.00      15,725,000.00
  B-2       0.00        0.00       0.00         25,360.42       0.00       9,250,000.00
  B-3       0.00        0.00       0.00         16,865.79       0.00       5,550,000.00
  B-4       0.00        0.00       0.00          7,028.93       0.00       2,313,000.00
  B-5       0.00        0.00       0.00          7,028.93       0.00       2,313,000.00
  B-6       0.03        0.00       0.00         12,661.78       0.03       4,166,584.59
  A-R       0.00        0.00       0.00              0.00       0.00               0.00
            ----        ----       ----      ------------       ----
Totals      0.03        0.00       0.00      2,572,194.37       0.03
            ====        ====       ====      ============       ====
</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>
 A-1    500,000,000.00     3.69814%       906.97301652       2.79509180     0.00000000   0.00000000
 A-2    185,687,000.00     2.69000%       911.53888145       2.04336631     0.00000000   0.00000000
 A-3    196,500,000.00     3.01750%       921.76205858       2.31784753     0.00000000   0.00000000
 X-1      3,500,000.00     3.16000%       921.76206000       2.42730571     0.00000000   0.00000000
 X-2              0.00     0.71850%       916.84016314       0.54896201     0.00000000   0.00000000
 X-B              0.00     0.59592%      1000.00000000       0.49659660     0.00000000   0.00000000
 B-1     15,725,000.00     2.91000%      1000.00000000       2.42500032     0.00000000   0.00000000
 B-2      9,250,000.00     3.29000%      1000.00000000       2.74166703     0.00000000   0.00000000
 B-3      5,550,000.00     3.64666%      1000.00000000       3.03888108     0.00000000   0.00000000
 B-4      2,313,000.00     3.64666%      1000.00000000       3.03888024     0.00000000   0.00000000
 B-5      2,313,000.00     3.64666%      1000.00000000       3.03888024     0.00000000   0.00000000
 B-6      4,166,584.59     3.64666%      1000.00000000       0.03887986     0.00000720   0.00000000
 A-R            100.00     3.36251%         0.00000000       0.00000000     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>
 A-1    0.00000000   0.00000000     2.79509180     0.00000000       877.69048038
 A-2    0.00000000   0.00000000     2.04336631     0.00000000       886.57591775
 A-3    0.00000000   0.00000000     2.31784753     0.00000000       891.53207272
 X-1    0.00000000   0.00000000     2.42730571     0.00000000       891.53207143
 X-2    0.00000000   0.00000000     0.54910274     0.00000000       889.14595768
 X-B    0.00000000   0.00000000     0.49683804     0.00000000      1000.00000000
 B-1    0.00000000   0.00000000     2.42500032     0.00000000      1000.00000000
 B-2    0.00000000   0.00000000     2.74166703     0.00000000      1000.00000000
 B-3    0.00000000   0.00000000     3.03888108     0.00000000      1000.00000000
 B-4    0.00000000   0.00000000     3.03888024     0.00000000      1000.00000000
 B-5    0.00000000   0.00000000     3.03888024     0.00000000      1000.00000000
 B-6    0.00000000   0.00000000     3.03888706     0.00000000      1000.00000000
 A-R    0.00000000   0.00000000     0.00000000     0.00000000         0.00000000
</TABLE>

(5)  Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
   Payments of Interest and Principal                          28,192,771.47
   Liquidations, Insurance Proceeds, Reserve Funds                      0.00
   Proceeds from Repurchased Loans                                      0.00
   Other Amounts (Servicer Advances)                               46,870.61
   Realized Losses (Gains, Subsequent Expenses & Recoveries)            0.00
   Prepayment Penalties                                                 0.00
                                                               -------------
Total Deposits                                                 28,239,642.08

Withdrawals
   Reimbursement for Servicer Advances                             75,471.17
   Payment of Service Fee                                         269,413.45
   Payment of Interest and Principal                           27,894,757.46
                                                               -------------
Total Withdrawals (Pool Distribution Amount)                   28,239,642.08

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                                   264,828.69
Master Servicing Fee                                    4,584.76
Supported Prepayment/Curtailment Interest Shortfall         0.00
                                                      ----------
Net Servicing Fee                                     269,413.45
                                                      ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                    Beginning     Current      Current    Ending
          Account Type               Balance    Withdrawals   Deposits    Balance
---------------------------------   ---------   -----------   --------   --------
<S>                                 <C>         <C>           <C>        <C>
Class X-A Pool 2 Comp Sub Account   4,500.00       27.14        27.14    4,500.00
Class X-A Pool 3 Comp Sub Account   4,500.00       27.14        27.14    4,500.00
Class X-B Sub Account               1,000.00        6.03         6.03    1,000.00
</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        43     12,763,139.34   30 Days        0         0.00     30 Days        0       0.00
60 Days         6      2,076,193.65   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
               --     -------------                 --         ----                   --       ----
               49     14,839,332.99                  0         0.00                    0       0.00
               ==     =============                 ==         ====                   ==       ====
</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       43     12,763,139.34
60 Days        0        0.00     60 Days        6      2,076,193.65
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                   49     14,839,332.99
              ==        ====                   ==     =============
</TABLE>

<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   0.000000%    0.000000%     0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     1.668607%    1.554402%     30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.232829%    0.252856%     60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%    0.000000%     90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%    0.000000%     120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%    0.000000%     150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%    0.000000%     180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------     --------                  --------   --------                --------   --------
            1.901436%    1.807258%                 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   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     0.000000%  0.000000%   30 Days     1.668607%  1.554402%
60 Days     0.000000%  0.000000%   60 Days     0.232829%  0.252856%
90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------
            0.000000%  0.000000%               1.901436%  1.807258%
            ========   ========                ========   ========
</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  46,870.61
</TABLE>

<TABLE>
<CAPTION>
              Original $    Original %     Current $      Current %    Current Class%   Prepayment %
            -------------   -----------  -------------   -----------   --------------   ------------
<S>         <C>             <C>          <C>             <C>           <C>              <C>
Class A     39,317,584.59   4.25052816%  39,317,584.59   4.78843389%     95.211566%       0.000000%
Class B-1   23,592,584.59   2.55053677%  23,592,584.59   2.87330803%      1.915126%      39.994827%
Class B-2   14,342,584.59   1.55054183%  14,342,584.59   1.74676341%      1.126545%      23.526369%
Class B-3    8,792,584.59   0.95054487%    8,792,58459   1.07083664%      0.675927%      14.115821%
Class B-4    6,479,584.59   0.70049208%   6,479,584.59   0.78913959%      0.281697%       5.882864%
Class B-5    4,166,584.59   0.45043930%   4,166,584.59   0.50744254%      0.281697%       5.882864%
Class B-6            0.00   0.00000000%           0.00   0.00000000%      0.507443%      10.597255%
</TABLE>

Please refer to the prospectus supplement for a full description of loss
exposure
<PAGE>
                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
             DELINQUENT                          BANKRUPTCY                         FORECLOSURE
-----------------------------------   --------------------------------   --------------------------------
GROUP ONE
             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        25      7,455,725.32   30 Days         0         0.00     30 Days         0         0.00
60 Days         3      1,115,362.18   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
               --      ------------                  --         ----                    --         ----
               28      8,571,087.50                   0         0.00                     0         0.00
               ==      ============                  ==         ====                    ==         ====
</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        25      7,455,725.32
60 Days         0         0.00     60 Days         3      1,115,362.18
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                    28      8,571,087.50
               ==         ====                    ==      ============
</TABLE>

<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   0.000000%    0.000000%    0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     1.204819%    1.274594%    30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.401606%    0.195077%    60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%    0.000000%    90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%    0.000000%    120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%    0.000000%    150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%    0.000000%    180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------     --------                 --------   --------                --------   --------
            1.606426%    1.469671%                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   0.000000%  0.000000%   0-29 Days   0.000000%    0.000000%
30 Days     0.000000%  0.000000%   30 Days     1.204819%    1.274594%
60 Days     0.000000%  0.000000%   60 Days     0.401606%    0.195077%
90 Days     0.000000%  0.000000%   90 Days     0.000000%    0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%    0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%    0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%    0.000000%
            --------    --------               --------     --------
            0.000000%  0.000000%               1.606426%    1.469671%
            ========   ========                ========     ========
</TABLE>

<TABLE>
<CAPTION>
             DELINQUENT                           BANKRUPTCY                         FORECLOSURE
-----------------------------------   ---------------------------------   --------------------------------
GROUP TWO                                         1.183654%
             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         6      2,203,404.47   30 Days         0          0.00     30 Days         0         0.00
60 Days         2        337,231.47   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
               --      ------------                  --          ----                    --         ----
                8      2,540,635.94                   0          0.00                     0         0.00
               ==      ============                  ==          ====                    ==         ====
</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         6      2,203,404.47
60 Days         0         0.00     60 Days         2        337,231.47
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                     8      2,540,635.94
               ==         ====                    ==      ============
</TABLE>

<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   0.000000%    0.000000%    0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     1.204819%    1.274594%    30 Days     0.000000%   0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.401606%    0.195077%    60 Days     0.000000%   0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%    0.000000%    90 Days     0.000000%   0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%    0.000000%    120 Days    0.000000%   0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%    0.000000%    150 Days    0.000000%   0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%    0.000000%    180+ Days   0.000000%   0.000000%   180+ Days   0.000000%  0.000000%
            --------     --------                 --------    --------                --------   --------
            1.606426%    1.469671%                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   0.000000%  0.000000%   0-29 Days   0.000000%    0.000000%
30 Days     0.000000%  0.000000%   30 Days     1.204819%    1.274594%
60 Days     0.000000%  0.000000%   60 Days     0.401606%    0.195077%
90 Days     0.000000%  0.000000%   90 Days     0.000000%    0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%    0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%    0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%    0.000000%
            --------   --------                --------     --------
            0.000000%  0.000000%               1.606426%    1.469671%
            ========   ========                ========     ========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
             DELINQUENT                           BANKRUPTCY                         FORECLOSURE
-----------------------------------   ---------------------------------   --------------------------------
GROUP THREE                                       1.183654%
             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        12      3,104,009.55   30 Days         0          0.00     30 Days         0         0.00
60 Days         1        623,600.00   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
               --      ------------                  --          ----                    --         ----
               13      3,727,609.55                   0          0.00                     0         0.00
               ==      ============                  ==          ====                    ==         ====
</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        12      3,104,009.55
60 Days         0         0.00     60 Days         1        623,600.00
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                    13      3,727,609.55
               ==         ====                    ==      ============
</TABLE>

<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   0.000000%    0.000000%    0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     1.970443%    1.658255%    30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.164204%    0.333146%    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%
            --------     --------                 --------    --------                --------    --------
            2.134647%    1.991401%                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   0.000000%  0.000000%   0-29 Days   0.000000%    0.000000%
30 Days     0.000000%  0.000000%   30 Days     1.970443%    1.658255%
60 Days     0.000000%  0.000000%   60 Days     0.164204%    0.333146%
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%               2.134647%    1.991401%
            ========   ========                ========     ========
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                Mixed Arm
----------------------                             --------------
<S>                                                <C>
Weighted Average Gross Coupon                            4.029106%
Weighted Average Net Coupon                              3.653648%
Weighted Average Pass-Through Rate                       3.646618%
Weighted Average Maturity (Stepdown Calculation)              338

Beginning Scheduled Collateral Loan Count                   2,629
Number of Loans Paid in Full                                   52
Ending Scheduled Collateral Loan Count                      2,577

Beginning Scheduled Collateral Balance             846,417,424.85
Ending Scheduled Collateral Balance                821,094,861.76
Ending Actual Collateral Balance at 31-Dec-2004    821,096,687.86

Monthly P&I Constant                                 2,875,777.03
Special Servicing Fee                                        0.00
Prepayment Penalties                                         0.00
Realization Loss Amount                                      0.00
Cumulative Realized Loss                                     0.00

Class A Optimal Amount                              27,775,215.68

Scheduled Principal                                     33,855.56
Unscheduled Principal                               25,288,707.53
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                           <C>
Rapid Prepayment Condition?   NO
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
             GROUP                    GROUP ONE          GROUP TWO        GROUP THREE           TOTAL
-------------------------------   -----------------   --------------   -----------------   --------------
<S>                               <C>                 <C>              <C>                 <C>
Collateral Description            6 Month LIBOR ARM        Mixed ARM   6 Month LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate               4.080510         3.851966            4.065290         4.029106
Weighted Average Net Rate                  3.705193         3.476647            3.689357         3.653648
Pass-Through Rate                          3.698137         3.469109            3.682857         3.646618
Weighted Average Maturity                       339              334                 339              338
Record Date                              12/31/2004       12/31/2004          12/31/2004       12/31/2004
Principal and Interest Constant        1,636,936.73       573,807.83          665,032.47     2.875,777.03
Beginning Loan Count                          1,498              509                 622            2,629
Loans Paid in Full                               28               11                  13               52
Ending Loan Count                             1,470              498                 609            2,577
Beginning Scheduled Balance          475,680,664.08   177,506,232.92      193,230,527.85   846,417,424.85
Ending Scheduled Balance             461,039,396.01   172,870,935.08      187,184,530.67   821,094,861.76
Scheduled Principal                       19,420.34         4,017.80           10,417.42        33,855.56
Unscheduled Principal                 14,621,847.73     4,631,280.04        6,035,579.76    25,288,707.53
Scheduled Interest                     1,617,516.39       569,790.03          654,615.05     2,841,921.47
Servicing Fee                            148,775.99        55,517.93           60,534.77       264,828.69
Master Servicing Fee                       2,576.60           961.49            1,046.67         4,584.76
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                                    220.06           153.50                0.00           373.56
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                           1,465,943.74       513,157.11          593,033.61     2,572,134.46
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>
<PAGE>
MISCELLANEOUS REPORTING

<TABLE>
<S>                          <C>
Group One
Pro-Rata Senior Percent       95.334232%
Senior Percent               100.000000%
Senior Prepay Percent        100.000000%
Subordinate Percent            0.000000%
Subordinate Prepay Percent     0.000000%
Interest Transfer Amount           0.00
Principal Transfer Amount          0.00

Group Two
Pro-Rata Senior Percent       95.354917%
Senior Percent               100.000000%
Senior Prepay Percent        100.000000%
Subordinate Percent            0.000000%
Subordinate Prepay Percent     0.000000%
Interest Transfer Amount           0.00
Principal Transfer Amount          0.00

Group Three
Pro-Rata Senior Percent       95.405428%
Senior Percent               100.000000%
Senior Prepay Percent        100.000000%
Subordinate Percent            0.000000%
Subordinate Prepay Percent     0.000000%
Interest Transfer Amount           0.00
Principal Transfer Amount          0.00
</TABLE><PAGE>
                                                                    EXHIBIT 10.1

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

                                SMT SERIES 2004-7
                         RECORD DATE: DECEMBER 31, 2004
                       DISTRIBUTION DATE: JANUARY 20, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY
<TABLE>
<CAPTION>
                     Certificate    Certificate
                        Class      Pass-Through        Beginning          Interest
 Class     CUSIP     Description       Rate       Certificate Balance   Distribution
------   ---------   -----------   ------------   -------------------   ------------
<S>      <C>         <C>           <C>            <C>                   <C>
  A-1    81744FCV7       SEN          3.33743%       471,469,368.89     1,311,247.38
  A-2    81744FCW5       SEN          2.72000%       235,599,676.52       534,025.93
 A-3-A   81744FCX3       SEN          2.28500%       231,820,388.01       441,424.66
 A-3-B   81744FDH7       SEN          2.51000%         3,699,788.82         7,738.72
  X-A    81744FCY1        IO          0.87326%                 0.00       342,886.99
  X-B    81744FCZ8        IO          0.25392%                 0.00         6,337.31
  B-1    81744FDB0       SUB          2.96000%        18,900,000.00        46,620.00
  B-2    81744FDC8       SUB          3.35000%        11,025,000.00        30,778.12
  B-3    81744FDD6       SUB          3.35760%         6,300,000.00        17,627.41
  B-4    81744FDE4       SUB          3.35760%         3,150,000.00         8,813.70
  B-5    81744FDF1       SUB          3.35760%         2,625,000.00         7,344.75
  B-6    81744FDG9       SUB          3.35760%         5,250,582.74        14,691.14
  A-R    81744FDA2       RES          2.97735%                 0.00             0.00
                                                     --------------     ------------
Totals                                               989,839,804.98     2,769,536.11
                                                     ==============     ============
</TABLE>

<TABLE>
<CAPTION>
           Principal        Current      Ending Certificate       Total         Cumulative
 Class    Distribution   Realized Loss         Balance         Distribution   Realized Loss
------   -------------   -------------   ------------------   -------------   -------------
<S>      <C>             <C>             <C>                  <C>             <C>
  A-1    13,052,852.66        0.00         458,416,516.23     14,364,100.04        0.00
  A-2     4,834,827.33        0.00         230,764,849.19      5,368,853.26        0.00
 A-3-A    6,360,396.97        0.00         225,459,991.04      6,801,821.63        0.00
 A-3-B      101,510.16        0.00           3,598,278.66        109,248.88        0.00
  X-A             0.00        0.00                   0.00        342,886.99        0.00
  X-B             0.00        0.00                   0.00          6,337.31        0.00
  B-1             0.00        0.00          18,900,000.00         46,620.00        0.00
  B-2             0.00        0.00          11,025,000.00         30,778.12        0.00
  B-3             0.00        0.00           6,300,000.00         17,627.41        0.00
  B-4             0.00        0.00           3,150,000.00          8,813.70        0.00
  B-5             0.00        0.00           2,625,000.00          7,344.75        0.00
  B-6             0.00        0.00           5,250,582.74         14,691.14        0.00
  A-R             0.00        0.00                   0.00              0.00        0.00
         -------------        ----         --------------     -------------        ----
Totals   24,349,587.12        0.00         965,490,217.86     27,119,123.23        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>
  A-1      498,828,000.00   471,469,368.89       0.00       13,052,582.66      0.00       0.00
  A-2      252,102,000.00   235,599,676.52       0.00        4,834,827.33      0.00       0.00
 A-3-A     247,874,000.00   231,820,388.01       0.00        6,360,396.97      0.00       0.00
 A-3-B       3,956,000.00     3,699,788.82       0.00          101,510.16      0.00       0.00
  X-A                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
  B-1       18,900,000.00    18,900,000.00       0.00                0.00      0.00       0.00
  B-2       11,025,000.00    11,025,000.00       0.00                0.00      0.00       0.00
  B-3        6,300,000.00     6,300,000.00       0.00                0.00      0.00       0.00
  B-4        3,150,000.00     3,150,000.00       0.00                0.00      0.00       0.00
  B-5        2,625,000.00     2,625,000.00       0.00                0.00      0.00       0.00
  B-6        5,250,582.74     5,250,582.74       0.00                0.00      0.00       0.00
  A-R              100.00             0.00       0.00                0.00      0.00       0.00
         ----------------   --------------       ----       -------------      ----       ----
Totals   1,050,010,682.74   989,839,804.98       0.00       24,349,587.12      0.00       0.00
         ================   ==============       ====       =============      ====       ====
</TABLE>

<TABLE>
<CAPTION>
         Total Principal   Ending Certificate   Ending Certificate   Total Principal
 Class      Reduction            Balance            Percentage         Distribution
------   ---------------   ------------------   ------------------   ---------------
<S>      <C>               <C>                  <C>                  <C>
  A-1     13,052,852.66      458,416,516.23         0.91898714        13,052,852.66
  A-2      4,834,827.33      230,764,849.19         0.91536302         4,834,827.33
 A-3-A     6,360,396.97      225,459,991.04         0.90957499         6,360,396.97
 A-3-B       101,510.16        3,598,278.66         0.90957499           101,510.16
  X-A              0.00                0.00         0.00000000                 0.00
  X-B              0.00                0.00         0.00000000                 0.00
  B-1              0.00       18,900,000.00         1.00000000                 0.00
  B-2              0.00       11,025,000.00         1.00000000                 0.00
  B-3              0.00        6,300,000.00         1.00000000                 0.00
  B-4              0.00        3,150,000.00         1.00000000                 0.00
  B-5              0.00        2,625,000.00         1.00000000                 0.00
  B-6              0.00        5,250,582.74         1.00000000                 0.00
  A-R              0.00                0.00         0.00000000                 0.00
          -------------      --------------         ----------        -------------
Totals    24,349,587.12      965,490,217.86         0.91950514        24,349,587.12
          =============      ==============         ==========        =============
</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
Class       Amount           Balance      Distribution    Distribution    Accretion    Loss (3)
-----   --------------   --------------   ------------   -------------   ----------   ----------
<S>     <C>              <C>              <C>            <C>             <C>          <C>
 A-1    498,828,000.00    945.15417918     0.00000000     26.16704086    0.00000000   0.00000000
 A-2    252,102,000.00    934.54108464     0.00000000     19.17806019    0.00000000   0.00000000
A-3-A   247,874,000.00    935.23478868     0.00000000     25.65979881    0.00000000   0.00000000
A-3-B     3,956,000.00    935.23478766     0.00000000     25.65979778    0.00000000   0.00000000
 X-A              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
 B-1     18,900,000.00   1000.00000000     0.00000000      0.00000000    0.00000000   0.00000000
 B-2     11,025,000.00   1000.00000000     0.00000000      0.00000000    0.00000000   0.00000000
 B-3      6,300,000.00   1000.00000000     0.00000000      0.00000000    0.00000000   0.00000000
 B-4      3,150,000.00   1000.00000000     0.00000000      0.00000000    0.00000000   0.00000000
 B-5      2,625,000.00   1000.00000000     0.00000000      0.00000000    0.00000000   0.00000000
 B-6      5,250,582.74   1000.00000000     0.00000000      0.00000000    0.00000000   0.00000000
 A-R            100.00      0.00000000     0.00000000      0.00000000    0.00000000   0.00000000
</TABLE>

<TABLE>
<CAPTION>
        Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class      Reduction            Balance            Percentage         Distribution
-----   ---------------   ------------------   ------------------   ---------------
<S>     <C>               <C>                  <C>                  <C>
 A-1      26.16704086         918.98713831         0.91898714         26.16704086
 A-2      19.17806019         915.36302445         0.91536302         19.17806019
A-3-A     25.65979881         909.57498987         0.90957499         25.65979881
A-3-B     25.65979778         909.57498989         0.90957499         25.65979778
 X-A       0.00000000           0.00000000         0.00000000          0.00000000
 X-B       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
 A-R       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.
<PAGE>
                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                  Beginning                    Payment of
                                                Certificate/       Current       Unpaid      Current    Non-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>
  A-1      498,828,000.00       3.33743%       471,469,368.89   1,311,247.38      0.00         0.00          0.00         0.00
  A-2      252,102,000.00       2.72000%       235,599,676.52     534,025.93      0.00         0.00          0.00         0.00
 A-3-A     247,874,000.00       2.28500%       231,820,388.01     441,424.66      0.00         0.00          0.00         0.00
 A-3-B       3,956,000.00       2.51000%         3,699,788.82       7,738.72      0.00         0.00          0.00         0.00
  X-A                0.00       0.87326%       471,119,853.35     342,839.76      0.00         0.00          0.00         0.00
  X-B                0.00       0.25392%        29,925,000.00       6,332.06      0.00         0.00          0.00         0.00
  B-1       18,900,000.00       2.96000%        18,900,000.00      46,620.00      0.00         0.00          0.00         0.00
  B-2       11,025,000.00       3.35000%        11,025,000.00      30,778.13      0.00         0.00          0.00         0.00
  B-3        6,300,000.00       3.35760%         6,300,000.00      17,627.41      0.00         0.00          0.00         0.00
  B-4        3,150,000.00       3.35760%         3,150,000.00       8,813.70      0.00         0.00          0.00         0.00
  B-5        2,625,000.00       3.35760%         2,625,000.00       7,344.75      0.00         0.00          0.00         0.00
  B-6        5,250,582.74       3.35760%         5,250,582.74      14,691.14      0.00         0.00          0.00         0.00
  A-R              100.00       2.97735%                 0.00           0.00      0.00         0.00          0.00         0.00
         ----------------                                       ------------      ----         ----          ----         ----
Totals   1,050,010,682.74                                       2,769,483.64      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>
  A-1      1,311,247.38      0.00     458,416,516.23
  A-2        534,025.93      0.00     230,764,849.19
 A-3-A       441,424.66      0.00     225,459,991.04
 A-3-B         7,738.72      0.00       3,598,278.66
  X-A        342,886.99      0.00     459,823,118.89
  X-B          6,337.31      0.00      29,925,000.00
  B-1         46,620.00      0.00      18,900,000.00
  B-2         30,778.12      0.00      11,025,000.00
  B-3         17,627.41      0.00       6,300,000.00
  B-4          8,813.70      0.00       3,150,000.00
  B-5          7,344.75      0.00       2,625,000.00
  B-6         14,691.14      0.00       5,250,582.74
  A-R              0.00      0.00               0.00
          -------------      ----
Totals     2,769,536.11      0.00
          =============      ====
</TABLE>

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

<TABLE>
<CAPTION>
                                                                            Payment of
                           Current         Beginning                          Unpaid       Current    Non-Supported
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-1    498,828,000.00     3.33743%       945.15417918       2.62865633     0.00000000   0.00000000     0.00000000    0.00000000
 A-2    252,102,000.00     2.72000%       934.54108464       2.11829311     0.00000000   0.00000000     0.00000000    0.00000000
A-3-A   247,874,000.00     2.28500%       935.23478868       1.78084293     0.00000000   0.00000000     0.00000000    0.00000000
A-3-B     3,956,000.00     2.51000%       935.23478766       1.95619818     0.00000000   0.00000000     0.00000000    0.00000000
 X-A              0.00     0.87326%       934.88774944       0.68032941     0.00000000   0.00000000     0.00000000    0.00000000
 X-B              0.00     0.25392%      1000.00000000       0.21159766     0.00000000   0.00000000     0.00000000    0.00000000
 B-1     18,900,000.00     2.96000%      1000.00000000       2.46666667     0.00000000   0.00000000     0.00000000    0.00000000
 B-2     11,025,000.00     3.35000%      1000.00000000       2.79166712     0.00000000   0.00000000     0.00000000    0.00000000
 B-3      6,300,000.00     3.35760%      1000.00000000       2.79800159     0.00000000   0.00000000     0.00000000    0.00000000
 B-4      3,150,000.00     3.35760%      1000.00000000       2.79800000     0.00000000   0.00000000     0.00000000    0.00000000
 B-5      2,625,000.00     3.35760%      1000.00000000       2.79800000     0.00000000   0.00000000     0.00000000    0.00000000
 B-6      5,250,582.74     3.35760%      1000.00000000       2.79800181     0.00000000   0.00000000     0.00000000    0.00000000
 A-R            100.00     2.97735%         0.00000000       0.00000000     0.00000000   0.00000000     0.00000000    0.00000000
</TABLE>

<TABLE>
<CAPTION>
                          Remaining
                           Unpaid
Class   Total Interest    Interest    Ending Certificate/
 (5)     Distribution     Shortfall   Notational Balance
-----   --------------   ----------   -------------------
<S>     <C>              <C>          <C>
 A-1      2.62865633     0.00000000       918.98713831
 A-2      2.11829311     0.00000000       915.36302445
A-3-A     1.78084293     0.00000000       909.57498987
A-3-B     1.95619818     0.00000000       909.57498989
 X-A      0.68042313     0.00000000       912.47056922
 X-B      0.21177310     0.00000000      1000.00000000
 B-1      2.46666667     0.00000000      1000.00000000
 B-2      2.79166621     0.00000000      1000.00000000
 B-3      2.79800159     0.00000000      1000.00000000
 B-4      2.79800000     0.00000000      1000.00000000
 B-5      2.79800000     0.00000000      1000.00000000
 B-6      2.79800181     0.00000000      1000.00000000
 A-R      0.00000000     0.00000000         0.00000000
</TABLE>

(5)  Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits

   Payments of Interest and Principal                          27,443,042.08
   Liquidations, Insurance Proceeds, Reserve Funds                      0.00
   Proceeds from Repurchased Loans                                      0.00
   Other Amounts (Servicer Advances)                               41,552.55
   Realized Losses (Gains, Subsequent Expenses & Recoveries)            0.00
   Prepayment Penalties                                                 0.00
                                                               -------------
Total Deposits                                                 27,484,594.63

Withdrawals

   Reimbursement for Servicer Advances                             50,266.99
   Payment of Service Fee                                         315,204.41
   Payment of Interest and Principal                           27,119,123.23
                                                               -------------
Total Withdrawals (Pool Distribution Amount)                   27,484,594.63

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                                   310,667.64
Master Servicing Fee                                    4,536.77
Supported Prepayment/Curtailment Interest Shortfall         0.00
                                                      ----------
Net Servicing Fee                                     315,204.41
                                                      ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
               Beginning     Current      Current    Ending
Account Type    Balance    Withdrawals   Deposits    Balance
------------   ---------   -----------   --------   --------
<S>            <C>         <C>           <C>        <C>
Reserve Fund    4,500.00      23.62        23.62    4,500.00
Reserve Fund    4,500.00      23.62        23.62    4,500.00
Reserve Fund    1,000.00       5.25         5.25    1,000.00
</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       35     12,263,205.35   30 Days        0        0.00     30 Days        0        0.00
60 Days        3      1,062,600.00   60 Days        0        0.00     60 Days        0        0.00
90 Days        1        385,500.00   90 Days        0        0.00     90 Days        0        0.00
120 Days       1        540,000.00   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
              --     -------------                 --        ----                   --        ----
              18      5,768,215.95                  0        0.00                    0        0.00
              ==     =============                 ==        ====                   ==        ====
</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       35     12,263,205.35
60 Days        0         0.00     60 Days        3      1,062,600.00
90 Days        0         0.00     90 Days        1        385,500.00
120 Days       0         0.00     120 Days       1        540,000.00
150 Days       0         0.00     150 Days       0              0.00
180+ Days      0         0.00     180+ Days      0              0.00
              --         ----                   --     -------------
               0         0.00                   18      5,768,215.95
              ==         ====                   ==     =============
</TABLE>

<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   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     1.188455%  1.270146%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.101868%  0.110057%   60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.033956%  0.039928%   90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.033956%  0.055930%   120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------                --------   --------
            1.358234%  1.476061%               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   0.000000%   0.000000%  0-29 Days   0.000000%  0.000000%
30 Days     0.000000%   0.000000%  30 Days     1.188455%  1.270146%
60 Days     0.000000%   0.000000%  60 Days     0.101868%  0.110057%
90 Days     0.000000%   0.000000%  90 Days     0.033956%  0.039928%
120 Days    0.000000%   0.000000%  120 Days    0.033956%  0.055930%
150 Days    0.000000%   0.000000%  150 Days    0.000000%  0.000000%
180+ Days   0.000000%   0.000000%  180+ Days   0.000000%  0.000000%
            --------    --------               --------   --------
            0.000000%   0.000000%              1.358234%  1.476061%
            ========    ========               ========   ========
</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  41,552.55
</TABLE>

<TABLE>
<CAPTION>
              Original $     Original%     Current $      Current %   Current Class %   Prepayment %
            -------------   ----------   -------------   ----------   ---------------   ------------
<S>         <C>             <C>          <C>             <C>          <C>               <C>
Class A     47,250,582.74   4.50000972%  47,250,582.74   4.89394733%     95.106053%       0.000000%
Class B-1   28,350,582.74   2.70002803%  28,350,582.74   2.93639254%      1.957555%      39.999507%
Class B-2   17,325,582.74   1.65003871%  17,325,582.74   1.79448558%      1.141907%      23.333046%
Class B-3   11,025,582.74   1.05004482%  11,025,582.74   1.14196732%      0.652518%      13.333169%
Class B-4    7,875,582.74   0.75004787%   7,875,582.74   0.81570819%      0.326259%       6.666584%
Class B-5    5,250,582.74   0.50005041%   5,250,582.74   0.54382558%      0.271883%       5.555487%
Class B-6            0.00   0.00000000%           0.00    0.0000000%      0.543826%      11.112207%
</TABLE>

Please refer to the prospectus supplement for a full description of loss
exposure
<PAGE>
                           DELINQUENCY STATUS BY GROUP

<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       16      4,806,715.95   30 Days        0        0.00     30 Days        0        0.00
60 Days        1        576,000.00   60 Days        0        0.00     60 Days        0        0.00
90 Days        1        385,500.00   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
              --     -------------                 --        ----                   --        ----
              40     14,251,305.35                  0        0.00                    0        0.00
              ==     =============                 ==        ====                   ==        ====
</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       16      4,806,715.95
60 Days        0        0.00     60 Days        1        576,000.00
90 Days        0        0.00     90 Days        1        385,500.00
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                   40     14,251,305.35
              ==        ====                   ==     =============
</TABLE>

<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   0.000000%  0.000000%   0-29 Days   0.000000%   0.000000%  0-29 Days   0.000000%   0.000000%
30 Days     1.100413%  0.997405%   30 Days     0.000000%   0.000000%  30 Days     0.000000%   0.000000%
60 Days     0.068776%  0.119521%   60 Days     0.000000%   0.000000%  60 Days     0.000000%   0.000000%
90 Days     0.068776%  0.079992%   90 Days     0.000000%   0.000000%  90 Days     0.000000%   0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%   0.000000%  120 Days    0.000000%   0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%   0.000000%  150 Days    0.000000%   0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%   0.000000%  180+ Days   0.000000%   0.000000%
            --------   --------                --------    --------               --------    --------
            1.237964%  1.196918%               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   0.000000%   0.000000%  0-29 Days   0.000000%    0.000000%
30 Days     0.000000%   0.000000%  30 Days     1.100413%    0.997405%
60 Days     0.000000%   0.000000%  60 Days     0.068776%    0.119521%
90 Days     0.000000%   0.000000%  90 Days     0.068776%    0.079992%
120 Days    0.000000%   0.000000%  120 Days    0.000000%    0.000000%
150 Days    0.000000%   0.000000%  150 Days    0.000000%    0.000000%
180+ Days   0.000000%   0.000000%  180+ Days   0.000000%    0.000000%
            --------    --------               --------     --------
            0.000000%   0.000000%              1.237964%    1.196918%
            ========    ========               ========     ========
</TABLE>

<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        14      5,456,650.40   30 Days         0         0.00     30 Days         0         0.00
60 Days         1        385,000.00   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
               --      ------------                  --         ----                    --         ----
               15      5,841,650.40                   0         0.00                     0         0.00
               ==      ============                  ==         ====                    ==         ====
</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        14      5,456,650.40
60 Days         0         0.00     60 Days         1        385,000.00
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                    15      5,841,650.40
               ==         ====                    ==      ============
</TABLE>

<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   0.000000%    0.000000%    0-29 Days   0.000000%   0.000000%  0-29 Days   0.000000%   0.000000%
30 Days     1.994302%    2.248826%    30 Days     0.000000%   0.000000%  30 Days     0.000000%   0.000000%
60 Days     0.142450%    0.158668%    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%
            --------     --------                 --------    --------               --------    --------
            2.136752%    2.407494%                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   0.000000%   0.000000%  0-29 Days   0.000000%    0.000000%
30 Days     0.000000%   0.000000%  30 Days     1.994302%    2.248826%
60 Days     0.000000%   0.000000%  60 Days     0.142450%    0.158668%
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%              2.136752%    2.407494%
            ========    ========               ========     ========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
             DELINQUENT                       BANKRUPTCY                       FORECLOSURE
---------------------------------   ------------------------------   ------------------------------
GROUP THREE                                       1.183654%
            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        5     1,999,839.00   30 Days         0       0.00     30 Days        0        0.00
60 Days        1       101,600.00   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       1       540,000.00   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
              --     ------------                  --       ----                   --        ----
               7     2,641,439.00                   0       0.00                    0        0.00
              ==     ============                  ==       ====                   ==        ====
</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        5     1,999,839.00
60 Days        0        0.00     60 Days        1       101,600.00
90 Days        0        0.00     90 Days        0             0.00
120 Days       0        0.00     120 Days       1       540,000.00
150 Days       0        0.00     150 Days       0             0.00
180+ Days      0        0.00     180+ Days      0             0.00
              --        ----                   --     ------------
               0        0.00                    7     2,641,439.00
              ==        ====                   ==     ============
</TABLE>

<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   0.000000%   0.000000%  0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.633714%   0.830054%  30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.126743%   0.042170%  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    0.126743%   0.224133%  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%
            --------    --------               ---------   --------                --------    --------
            0.887199%   1.096356%              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   0.000000%   0.000000%  0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%  30 Days     0.633714%   0.830054%
60 Days     0.000000%   0.000000%  60 Days     0.126743%   0.042170%
90 Days     0.000000%   0.000000%  90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%  120 Days    0.126743%   0.224133%
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%              0.887199%   1.096356%
            ========    ========               ========    ========
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                Mixed Arm
------------------------------------------------   --------------
<S>                                                <C>
Weighted Average Gross Coupon                            3.739622%
Weighted Average Net Coupon                              3.362994%
Weighted Average Pass-Through Rate                       3.357494%
Weighted Average Maturity (Stepdown Calculation)              337

Beginning Scheduled Collateral Loan Count                   2,994
Number of Loans Paid in Full                                   49
Ending Scheduled Collateral Loan Count                      2,945

Beginning Scheduled Collateral Balance             989,839,804.98
Ending Scheduled Collateral Balance                965,490,217.86
Ending Actual Collateral Balance at 31-Dec-2004    965,495,521.51

Monthly P&I Constant                                 3,084,688.68
Special Servicing Fee                                        0.00
Prepayment Penalties                                         0.00
Realization Loss Amount                                      0.00
Cumulative Realized Loss                                     0.00

Class A Optimal Amount                              26,986,863.57

Scheduled Principal                                          0.00
Unscheduled Principal                               24,349,587.12
</TABLE>

MISCELLANEOUS REPORTING
<TABLE>
<S>                       <C>
Rapid Prepayment Event    NO
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
             GROUP                    GROUP ONE          GROUP TWO        GROUP THREE           TOTAL
-------------------------------   -----------------   --------------   -----------------   --------------
<S>                               <C>                 <C>              <C>                 <C>
Collateral Description            6 Month LIBOR ARM        Mixed ARM   6 Month LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate               3.719770         3.783353            3.735594         3.739622
Weighted Average Net Rate                  3.342933         3.407234            3.358876         3.362994
Pass-Through Rate                          3.337433         3.401734            3.353376         3.357494
Weighted Average Maturity                       336              334                 342              337
Record Date                              12/31/2004       12/31/2004          12/31/2004       12/31/2004
Principal and Interest Constant        1,534,325.77       780,248.42          770,114.49     3,084,688.68
Beginning Loan Count                          1,477              713                 804            2,994
Loans Paid in Full                               23               11                  15               49
Ending Loan Count                             1,454              702                 789            2,945
Beginning Scheduled Balance          494,974,375.42   247,478,408.49      247,387,021.07   989,839,804.98
Ending Scheduled Balance             481,921,522.76   242,643,581.16      240,925,113.94   965,490,217.86
Scheduled Principal                            0.00             0.00                0.00             0.00
Unscheduled Principal                 13,052,852.66     4,834,827.33        6,461,907.13    24,349,587.12
Scheduled Interest                     1,534,325.77       780,248.42          770,114.49     3,084,688.68
Servicing Fee                            155,437.46        77,567.66           77,662.52       310,667.64
Master Servicing Fee                       2,268.63         1,134.28            1,133.86         4,536.77
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                           1,376,619.68       701,546.48          691,318.11     2,769,484.27
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>
<PAGE>
MISCELLANEOUS REPORTING
<TABLE>
<S>                                 <C>
Group One
Principal Transfer Amount                     0.00
Pro-Rata Senior Percent                  95.251268%
Senior Percentage                       100.000000%
Senior Prepayment Percentage            100.000000%
Subordinate Percentage                    0.000000%
Subordinate Prepayment Percentage         0.000000%
Interest Transfer Amount                      0.00

Group Two
One-Month LIBOR Loan Balance        168,847,994.28
Six-Month LIBOR Loan Balance         73,795,586.88
Principal Transfer Amount                     0.00
Pro-Rata Senior Percent                  95.200094%
Senior Percentage                       100.000000%
Senior Prepayment Percentage            100.000000%
Subordinate Percentage                    0.000000%
Subordinate Prepayment Percentage         0.000000%
Interest Transfer Amount                      0.00

Group Three
Principal Transfer Amount                     0.00
Pro-Rate Senior Percent                  95.203126%
Senior Percentage                       100.000000%
Senior Prepayment Percentage            100.000000%
Subordinate Percentage                    0.000000%
Subordinate Prepayment Percentage         0.000000%
Interest Transfer Amount                      0.00
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}]]