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 2002-12
                          RECORD DATE: AUGUST 29, 2003
                      DISTRIBUTION DATE: SEPTEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<Table>
<Caption>

                      Certificate   Certificate          Beginning                                       Current
                         Class     Pass-Through         Certificate        Interest       Principal      Realized
 Class      CUSIP     Description      Rate               Balance        Distribution    Distribution      Loss
-------   ---------   -----------  ------------       ----------------   --------------  -------------   ---------

<S>       <C>         <C>          <C>                <C>                <C>             <C>             <C>
     A    81744BAA4   SEN               1.56000%      1,007,163,875.27     1,309,313.03  17,725,516.85        0.00
    X-1   81744BAB2   IO                0.80442%                  0.00       160,685.93           0.00        0.00
    X-2   81744BAC0   IO                1.15245%                  0.00       753,195.84           0.00        0.00
    A-R   81744BAD8   SEN               3.16542%                  0.00             0.00           0.00        0.00
    B-1   81744BAE6   SUB               1.96000%         16,815,000.00        27,464.50           0.00        0.00
    B-2   81744BAF3   SUB               2.63755%          8,968,000.00        19,711.26           0.00        0.00
    B-3   81744BAG1   SUB               2.63755%          6,165,000.00        13,550.39           0.00        0.00
    B-4   SMT0212B4   SUB               2.63755%          2,802,000.00         6,158.67           0.00        0.00
    B-5   SMT0212B5   SUB               2.63755%          1,681,000.00         3,694.76           0.00        0.00
    B-6   SMT0212B6   SUB               2.63755%          4,486,095.46         9,860.24           0.00        0.00
                                   ------------    -------------------   --------------  -------------   ---------
Totals                                                1,048,080,970.73     2,303,634.62  17,725,516.85        0.00
                                   ------------    -------------------   --------------  -------------   ---------

<Caption>

               Ending
            Certificate         Total         Cumulative
 Class         Balance       Distribution    Realized Loss
-------   ----------------   -------------   --------------

<S>       <C>                <C>             <C>
     A      989,438,358.42   19,034,829.88             0.00
    X-1               0.00      160,685.93             0.00
    X-2               0.00      753,195.84             0.00
    A-R               0.00            0.00             0.00
    B-1      16,815,000.00       27,464.50             0.00
    B-2       8,968,000.00       19,711.26             0.00
    B-3       6,165,000.00       13,550.39             0.00
    B-4       2,802,000.00        6,158.67             0.00
    B-5       1,681,000.00        3,694.76             0.00
    B-6       4,486,095.46        9,860.24             0.00
          ----------------   -------------   --------------
Totals    1,030,355,453.88   20,029,151.47             0.00
          ----------------   -------------   --------------

</Table>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<Table>
<Caption>
                                   Beginning       Scheduled      Unscheduled
              Original Face       Certificate       Principal      Principal                    Realized     Total Principal
   Class          Amount            Balance       Distribution    Distribution     Accretion     Loss (1)       Reduction
---------    ----------------   ----------------  ------------   --------------    ---------    ----------   ---------------

<S>          <C>                <C>               <C>             <C>              <C>          <C>          <C>
     A       1,080,076,000.00   1,007,163,875.27          0.00    17,725,516.85         0.00          0.00     17,725,516.85
    X-1                  0.00               0.00          0.00             0.00         0.00          0.00              0.00
    X-2                  0.00               0.00          0.00             0.00         0.00          0.00              0.00
    A-R                100.00               0.00          0.00             0.00         0.00          0.00              0.00
    B-1         16,815,000.00      16,815,000.00          0.00             0.00         0.00          0.00              0.00
    B-2          8,968,000.00       8,968,000.00          0.00             0.00         0.00          0.00              0.00
    B-3          6,165,000.00       6,165,000.00          0.00             0.00         0.00          0.00              0.00
    B-4          2,802,000.00       2,802,000.00          0.00             0.00         0.00          0.00              0.00
    B-5          1,681,000.00       1,681,000.00          0.00             0.00         0.00          0.00              0.00
    B-6          4,486,095.46       4,486,095.46          0.00             0.00         0.00          0.00              0.00
             ----------------   ----------------  ------------   --------------    ---------    ----------   ---------------
Totals       1,120,993,195.46   1,048,080,970.73          0.00    17,725,516.85         0.00          0.00     17,725,516.85
             ----------------   ----------------  ------------   --------------    ---------    ----------   ---------------

<Caption>
                 Ending              Ending              Total
               Certificate         Certificate          Principal
   Class         Balance            Percentage        Distribution
---------  -----------------      --------------      -------------

<S>        <C>                    <C>                 <C>
     A        989,438,358.42          0.91608216      17,725,516.85
    X-1                 0.00          0.00000000               0.00
    X-2                 0.00          0.00000000               0.00
    A-R                 0.00          0.00000000               0.00
    B-1        16,815,000.00          1.00000000               0.00
    B-2         8,968,000.00          1.00000000               0.00
    B-3         6,165,000.00          1.00000000               0.00
    B-4         2,802,000.00          1.00000000               0.00
    B-5         1,681,000.00          1.00000000               0.00
    B-6         4,486,095.46          1.00000000               0.00
           -----------------      --------------      -------------
Totals      1,030,355,453.88          0.91914515      17,725,516.85
           -----------------      --------------      -------------
</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                                      Total
              Original Face         Certificate    Principal         Principal                    Realized         Principal
   Class          Amount              Balance     Distribution     Distribution     Accretion      Loss(3)         Reduction
----------   ----------------      -------------  ------------     -------------    ----------    ----------      ------------
<S>          <C>                   <C>            <C>              <C>              <C>           <C>             <C>
     A       1,080,076,000.00       932.49352385    0.00000000       16.41136073    0.00000000    0.00000000       16.41136073
    X-1                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    X-2                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    A-R                100.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-1         16,815,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-2          8,968,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-3          6,165,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-4          2,802,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-5          1,681,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-6          4,486,095.46      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000

<Caption>
               Ending               Ending              Total
             Certificate          Certificate          Principal
   Class       Balance             Percentage        Distribution
---------    -------------        ------------       ------------
<S>          <C>                   <C>               <C>
     A        916.08216313          0.91608216        16.41136073
    X-1         0.00000000          0.00000000         0.00000000
    X-2         0.00000000          0.00000000         0.00000000
    A-R         0.00000000          0.00000000         0.00000000
    B-1      1000.00000000          1.00000000         0.00000000
    B-2      1000.00000000          1.00000000         0.00000000
    B-3      1000.00000000          1.00000000         0.00000000
    B-4      1000.00000000          1.00000000         0.00000000
    B-5      1000.00000000          1.00000000         0.00000000
    B-6      1000.00000000          1.00000000         0.00000000
</Table>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT
<Table>
<Caption>

                                                       Beginning                           Payment of
                                    Current           Certificate/         Current           Unpaid             Current
              Original Face       Certificate           Notional           Accrued           Interest           Interest
  Class          Amount               Rate              Balance            Interest          Shortfall          Shortfall
----------   ----------------   ----------------    ----------------   ----------------   ----------------   ----------------

<S>          <C>                <C>                 <C>                <C>                <C>                 <C>
    A        1,080,076,000.00            1.56000%   1,007,163,875.27       1,309,313.04               0.00               0.00
   X-1                   0.00            0.80442%     239,705,205.53         160,685.93               0.00               0.00
   X-2                   0.00            1.15245%     784,273,669.74         753,195.84               0.00               0.00
   A-R                 100.00            3.16542%               0.00               0.00               0.00               0.00
   B-1          16,815,000.00            1.96000%      16,815,000.00          27,464.50               0.00               0.00
   B-2           8,968,000.00            2.63755%       8,968,000.00          19,711.26               0.00               0.00
   B-3           6,165,000.00            2.63755%       6,165,000.00          13,550.39               0.00               0.00
   B-4           2,802,000.00            2.63755%       2,802,000.00           6,158.67               0.00               0.00
   B-5           1,681,000.00            2.63755%       1,681,000.00           3,694.76               0.00               0.00
   B-6           4,486,095.46            2.63755%       4,486,095.46           9,860.24               0.00               0.00
             ----------------                                          ----------------   ----------------   ----------------
 Totals      1,120,993,195.46                                              2,303,634.63               0.00               0.00
             ----------------                                          ----------------   ----------------   ----------------

<Caption>

                   Non-                                                   Remaining         Ending
                Supported                                                  Unpaid         Certificate/
                 Interest           Realized        Total Interest        Interest        Notational
  Class          Shortfall           Loss(4)         Distribution         Shortfall         Balance
----------   ----------------   ----------------   ----------------   ----------------   ----------------

<S>          <C>                <C>                <C>                <C>                <C>
    A                    0.00               0.00       1,309,313.03               0.00     989,438,358.42
   X-1                   0.00               0.00         160,685.93               0.00     238,519,919.41
   X-2                   0.00               0.00         753,195.84               0.00     767,733,439.01
   A-R                   0.00               0.00               0.00               0.00               0.00
   B-1                   0.00               0.00          27,464.50               0.00      16,815,000.00
   B-2                   0.00               0.00          19,711.26               0.00       8,968,000.00
   B-3                   0.00               0.00          13,550.39               0.00       6,165,000.00
   B-4                   0.00               0.00           6,158.67               0.00       2,802,000.00
   B-5                   0.00               0.00           3,694.76               0.00       1,681,000.00
   B-6                   0.00               0.00           9,860.24               0.00       4,486,095.46
             ----------------   ----------------   ----------------   ----------------
 Totals                  0.00               0.00       2,303,634.62               0.00
             ----------------   ----------------   ----------------   ----------------
</Table>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<Table>
<Caption>

                                                    Beginning                              Payment of
                                 Current           Certificate          Current             Unpaid           Current
           Original Face       Certificate           Notional           Accrued            Interest          Interest
Class(5)       Amount             Rate                Balance           Interest           Shortfall         Shortfall
-------   ----------------   ----------------    ----------------   ----------------   ----------------   ----------------

<S>       <C>                <C>                 <C>                <C>                <C>                <C>
      A   1,080,076,000.00            1.56000%       932.49352385         1.21224158         0.00000000         0.00000000
     X-1              0.00            0.80442%       959.91766628         0.64347899         0.00000000         0.00000000
     X-2              0.00            1.15245%       925.74985451         0.88906585         0.00000000         0.00000000
     A-R            100.00            3.16542%         0.00000000         0.00000000         0.00000000         0.00000000
     B-1     16,815,000.00            1.96000%      1000.00000000         1.63333333         0.00000000         0.00000000
     B-2      8,968,000.00            2.63755%      1000.00000000         2.19795495         0.00000000         0.00000000
     B-3      6,165,000.00            2.63755%      1000.00000000         2.19795458         0.00000000         0.00000000
     B-4      2,802,000.00            2.63755%      1000.00000000         2.19795503         0.00000000         0.00000000
     B-5      1,681,000.00            2.63755%      1000.00000000         2.19795360         0.00000000         0.00000000
     B-6      4,486,095.46            2.63755%      1000.00000000         2.19795590         0.00000000         0.00000000

<Caption>

               Non-                                                  Remaining             Ending
            Supported                                Total            Unpaid            Certificate/
             Interest            Realized           Interest          Interest           Notational
Class(5)     Shortfall            Loss(6)         Distribution        Shortfall             Balance
-------   ----------------   ----------------   ----------------   ----------------   ----------------

<S>       <C>                <C>                <C>                <C>              <C>
      A         0.00000000         0.00000000         1.21224157         0.00000000       916.08216313
     X-1        0.00000000         0.00000000         0.64347899         0.00000000       955.17109816
     X-2        0.00000000         0.00000000         0.88906585         0.00000000       906.22590926
     A-R        0.00000000         0.00000000         0.00000000         0.00000000         0.00000000
     B-1        0.00000000         0.00000000         1.63333333         0.00000000      1000.00000000
     B-2        0.00000000         0.00000000         2.19795495         0.00000000      1000.00000000
     B-3        0.00000000         0.00000000         2.19795458         0.00000000      1000.00000000
     B-4        0.00000000         0.00000000         2.19795503         0.00000000      1000.00000000
     B-5        0.00000000         0.00000000         2.19795360         0.00000000      1000.00000000
     B-6        0.00000000         0.00000000         2.19795590         0.00000000      1000.00000000
</Table>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<Table>

<S>                                                        <C>
Beginning Balance

Deposits
         Payments of Interest and Principal                20,358,641.52
         Liquidations, Insurance Proceeds, Reserve Funds            0.00
         Proceeds from Repurchased Loans                            0.00
         Other Amounts (Servicer Advances)                        364.13
         Realized Losses                                            0.00
         Prepayment Penalties                                       0.00
                                                           -------------
Total Deposits                                             20,359,005.65

Withdrawals
         Reimbursement for Servicer Advances                        0.00
         Payment of Service Fee                               329,854.19
         Payment of Interest and Principal                 20,029,151.46
                                                           -------------
Total Withdrawals (Pool Distribution Amount)               20,359,005.65

Ending Balance                                                      0.00
                                                           =============
</Table>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<Table>

<S>                                                            <C>
Total Prepayment/Curtailment Interest Shortfall                        0.00
Servicing Fee Support                                                  0.00
                                                               ------------

Non-Supported Prepayment Curtailment Interest Shortfall                0.02
                                                               ============

</Table>

                                 SERVICING FEES

<Table>

<S>                                                     <C>
Gross Servicing Fee                                     329,854.19
Supported Prepayment/Curtailment Interest Shortfall           0.00
                                                      ------------

Net Servicing Fee                                       329,854.19
                                                      ============
</Table>

<PAGE>

<Table>
<Caption>

                              Beginning      Current       Current         Ending
       Account Type            Balance      Withdrawals    Deposits       Balance
-------------------------   ------------   ------------   ------------   ------------
<S>                         <C>            <C>            <C>            <C>
       Reserve Fund            10,000.00           0.00           0.00      10,000.00

</Table>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<Table>
<Caption>
                DELINQUENT                                BANKRUPTCY                                FORECLOSURE
--------------------------------------     ---------------------------------------     -----------------------------------------
                No. of       Principal                   No. of        Principal                       No. of        Principal
                Loans        Balance                     Loans          Balance                        Loans          Balance

<S>           <C>           <C>            <C>         <C>             <C>             <C>          <C>            <C>
0-29 Days              0          0.00     0-29 Days             0            0.00     0-29 Days             0              0.00
30 Days                1    151,981.58       30 Days             0            0.00       30 Days             0              0.00
60 Days                0          0.00       60 Days             0            0.00       60 Days             0              0.00
90 Days                0          0.00       90 Days             0            0.00       90 Days             0              0.00
120 Days               0          0.00      120 Days             0            0.00      120 Days             0              0.00
150 Days               0          0.00      150 Days             0            0.00      150 Days             0              0.00
180+ Days              0          0.00     180+ Days             0            0.00     180+ Days             0              0.00
             -----------   -----------                 -----------    ------------                 -----------    --------------
                       1    151,981.58                           0            0.00                           0              0.00

<Caption>

                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         0.033818%     0.014750%      30 Days      0.000000%       0.000000%      30 Days      0.000000%         0.000000%
60 Days         0.000000%     0.000000%      60 Days      0.000000%       0.000000%      60 Days      0.000000%         0.000000%
90 Days         0.000000%     0.000000%      90 Days      0.000000%       0.000000%      90 Days      0.000000%         0.000000%
120 Days        0.000000%     0.000000%     120 Days      0.000000%       0.000000%     120 Days      0.000000%         0.000000%
150 Days        0.000000%     0.000000%     150 Days      0.000000%       0.000000%     150 Days      0.000000%         0.000000%
180+ Days       0.000000%     0.000000%    180+ Days      0.000000%       0.000000%    180+ Days      0.000000%         0.000000%
             -----------   -----------                 -----------    ------------                 -----------    --------------
                0.033818%     0.014750%                   0.000000%       0.000000%                   0.000000%         0.000000%

<Caption>

                              REO                                                TOTAL
        --------------------------------------------        ---------------------------------------------
                        No. of           Principal                            No. of           Principal
                         Loans            Balance                              Loans           Balance

        <S>             <C>            <C>                   <C>           <C>                 <C>
        0-29 Days                0              0.00         0-29 Days                0              0.00
          30 Days                0              0.00           30 Days                1        151,981.58
          60 Days                0              0.00           60 Days                0              0.00
          90 Days                0              0.00           90 Days                0              0.00
         120 Days                0              0.00          120 Days                0              0.00
         150 Days                0              0.00          150 Days                0              0.00
        180+ Days                0              0.00         180+ Days                0              0.00
                       -----------       -----------                       ------------       -----------
                                 0              0.00                                  1        151,981.58

<Caption>

                        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         0.033818%         0.014750%
          60 Days         0.000000%         0.000000%          60 Days         0.000000%         0.000000%
          90 Days         0.000000%         0.000000%          90 Days         0.000000%         0.000000%
         120 Days         0.000000%         0.000000%         120 Days         0.000000%         0.000000%
         150 Days         0.000000%         0.000000%         150 Days         0.000000%         0.000000%
        180+ Days         0.000000%         0.000000%        180+ Days         0.000000%         0.000000%
                       -----------       -----------                       ------------       -----------
                          0.000000%         0.000000%                          0.033818%         0.014750%

</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  364.13

</Table>

<Table>
<Caption>

                              Original $         Original %          Current $           Current %

<S>                         <C>                  <C>               <C>                   <C>
              Bankruptcy       218,860.00        0.01952376%          218,860.00         0.02124121%
                   Fraud    33,629,796.00        3.00000001%       33,629,796.00         3.26390236%
          Special Hazard    11,209,932.00        1.00000000%       10,303,554.54         1.00000000%
</Table>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                              COLLATERAL STATEMENT

<Table>
<Caption>

Collateral Description                                         Mixed ARM
<S>                                                    <C>
Weighted Average Gross Coupon                                  3.015212%
Weighted Average Net Coupon                                    2.637546%
Weighted Average Pass-Through Rate                             2.637546%
Weighted Average Maturity (Stepdown Calculation)                    317

Beginning Scheduled Collateral Loan Count                         3,000
Number of Loans Paid in Full                                         43
Ending Scheduled Collateral Loan Count                            2,957

Beginning Scheduled Collateral Balance                 1,048,080,970.73
Ending Scheduled Collateral Balance                    1,030,355,453.88
Ending Actual Collateral Balance at 29-Aug-2003        1,030,357,509.92

Monthly P&I Constant                                       2,633,488.79
Special Servicing Fee                                              0.00
Prepayment Penalties                                               0.00
Realization Loss Amount                                            0.00
Cumulative Realized Loss                                           0.00

Ending Scheduled Balance for Premium Loans             1,030,355,453.88

Scheduled Principal                                                0.00
Unscheduled Principal                                     17,725,516.85
</Table>

                             MISCELLANEOUS REPORTING

<Table>

<S>                                            <C>
Principal Balance of 1-Month Libor Loans       244,233,023.19
Principal Balance of 6-Month Libor Loans       786,122,430.69
Pro Rata Senior Percentage                          96.095999%
Senior Percentage                                  100.000000%
Senior Prepayment Percentage                       100.000000%
Subordinate Percentage                               0.000000%
Subordinate Prepayment Percentage                    0.000000%
Payment Received from Cap Provide                           0

</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 2003-1
                          RECORD DATE: AUGUST 29, 2003
                      DISTRIBUTION DATE: SEPTEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<Table>
<Caption>
                     Certificate   Certificate       Beginning                                                        Ending
                        Class      Pass-Through     Certificate       Interest       Principal       Current        Certificate
 Class     CUSIP     Description      Rate            Balance       Distribution   Distribution    Realized Loss       Balance
 -----   ---------   -----------   ------------    --------------   ------------   -------------   -------------   --------------
<S>      <C>          <C>           <C>            <C>              <C>            <C>             <C>             <C>
   1A    81743PAA4       SEN            1.49000%   751,141,917.97     932,667.88   13,685,535.46            0.00   737,456,382.51
   2A    81743PAB2       SEN            1.59000%   178,070,758.47     235,943.75    1,851,573.12            0.00   176,219,185.35
  X-1A   81743PAC0        IO            0.91809%             0.00     130,955.99            0.00            0.00             0.00
  X-1B   81743PAD8        IO            1.14031%             0.00     551,125.41            0.00            0.00             0.00
   X-2   81743PAE6        IO            1.05856%             0.00     157,082.10            0.00            0.00             0.00
   X-B   81743PAF3        IO            0.60292%             0.00       7,991.14            0.00            0.00             0.00
   A-R   81743PAG1         R            2.74783%             0.00           0.00            0.00            0.00             0.00
   B-1   81743PAH9       SUB            1.99000%    15,905,000.00      26,375.79            0.00            0.00    15,905,000.00
   B-2   81743PAJ5       SUB            2.59292%     8,210,000.00      17,739.86            0.00            0.00     8,210,000.00
   B-3   81743PAK2       SUB            2.59292%     5,644,000.00      12,195.35            0.00            0.00     5,644,000.00
   B-4   SEQ0301B4       SUB            2.59292%     2,565,000.00       5,542.36            0.00            0.00     2,565,000.00
   B-5   SEQ0301B5       SUB            2.59292%     1,539,000.00       3,325.41            0.00            0.00     1,539,000.00
   B-6   SEQ0301B6       SUB            2.59292%     4,105,618.00       8,871.27            0.00            0.00     4,105,618.00
         ---------   -----------   ------------    --------------   ------------   -------------   -------------   --------------
Totals                                             967,181,294.44   2,089,816.31   15,537,108.58            0.00   951,644,185.86
                                                   --------------   ------------   -------------   -------------   --------------

<Caption>

            Total        Cumulative
 Class    Distribution   Realized Loss
 -----   -------------   -------------
<S>      <C>             <C>
   1A    14,618,203.34            0.00
   2A     2,087,516.87            0.00
  X-1A      130,955.99            0.00
  X-1B      551,125.41            0.00
   X-2      157,082.10            0.00
   X-B        7,991.14            0.00
   A-R            0.00            0.00
   B-1       26,375.79            0.00
   B-2       17,739.86            0.00
   B-3       12,195.35            0.00
   B-4        5,542.36            0.00
   B-5        3,325.41            0.00
   B-6        8,871.27            0.00
         -------------   -------------
Totals   17,626,924.89           00.00
         -------------   -------------
</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                                                 Ending
            Original Face     Certificate      Principal       Principal                 Realized   Total Principal     Certificate
Class          Amount           Balance       Distribution   Distribution    Accretion   Loss (1)      Reduction          Balance
-----       --------------   --------------   ------------   -------------   ---------   --------   ---------------   --------------
<S>       <C>                <C>              <C>            <C>             <C>         <C>        <C>               <C>
  1A        798,206,000.00   751,141,917.97           5.23   13,685,530.23        0.00       0.00     13,685,535.46   737,456,382.51
  2A        190,000,000.00   178,070,758.47           1.06    1,851,572.06        0.00       0.00      1,851,573.12   176,219,185.35
 X-1A                 0.00             0.00           0.00            0.00        0.00       0.00              0.00             0.00
 X-1B                 0.00             0.00           0.00            0.00        0.00       0.00              0.00             0.00
  X-2                 0.00             0.00           0.00            0.00        0.00       0.00              0.00             0.00
  X-B                 0.00             0.00           0.00            0.00        0.00       0.00              0.00             0.00
  A-R               100.00             0.00           0.00            0.00        0.00       0.00              0.00             0.00
  B-1        15,905,000.00    15,905,000.00           0.00            0.00        0.00       0.00              0.00    15,905,000.00
  B-2         8,210,000.00     8,210,000.00           0.00            0.00        0.00       0.00              0.00     8,210,000.00
  B-3         5,644,000.00     5,644,000.00           0.00            0.00        0.00       0.00              0.00     5,644,000.00
  B-4         2,565,000.00     2,565,000.00           0.00            0.00        0.00       0.00              0.00     2,565,000.00
  B-5         1,539,000.00     1,539,000.00           0.00            0.00        0.00       0.00              0.00     1,539,000.00
  B-6         4,105,618.00     4,105,618.00           0.00            0.00        0.00       0.00              0.00     4,105,618.00
          ----------------   --------------   ------------   -------------   ---------   --------   ---------------   --------------
Totals    1,026,174,718.00   967,181,294.44           6.29   15,537,102.29        0.00       0.00     15,537,108.58   951,644,185.86
          ----------------   --------------   ------------   -------------   ---------   --------   ---------------   --------------
<Caption>
           Ending
        Certificate   Total Principal
Class    Percentage     Distribution
-----   -----------   ---------------
<S>     <C>           <C>
  1A     0.92389231     13,685,535.46
  2A     0.92746940      1,851,573.12
 X-1A    0.00000000              0.00
 X-1B    0.00000000              0.00
  X-2    0.00000000              0.00
  X-B    0.00000000              0.00
  A-R    0.00000000              0.00
  B-1    1.00000000              0.00
  B-2    1.00000000              0.00
  B-3    1.00000000              0.00
  B-4    1.00000000              0.00
  B-5    1.00000000              0.00
  B-6    1.00000000              0.00
        -----------   ---------------
Totals   0.92737052     15,537,108.58
        -----------   ---------------
</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                                                     Ending
        Original Face     Certificate      Principal       Principal                   Realized    Total Principal     Certificate
Class      Amount           Balance       Distribution   Distribution    Accretion     Loss (3)       Reduction          Balance
-----   --------------   --------------   ------------   -------------   ----------   ----------   ---------------   -------------
<S>     <C>              <C>              <C>            <C>             <C>          <C>          <C>               <C>
  1A    798,206,000.00     941.03767445     0.00000655     17.14536126   0.00000000    0.00000000      17.14536781    923.89230664
  2A    190,000,000.00     937.21451826     0.00000558      9.74511611   0.00000000    0.00000000       9.74512168    927.46939658
 X-1A             0.00       0.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000      0.00000000
 X-1B             0.00       0.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000      0.00000000
  X-2             0.00       0.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000      0.00000000
  X-B             0.00       0.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000      0.00000000
  A-R           100.00       0.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000      0.00000000
  B-1    15,905,000.00    1000.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000   1000.00000000
  B-2     8,210,000.00    1000.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000   1000.00000000
  B-3     5,644,000.00    1000.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000   1000.00000000
  B-4     2,565,000.00    1000.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000   1000.00000000
  B-5     1,539,000.00    1000.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000   1000.00000000
  B-6     4,105,618.00    1000.00000000     0.00000000      0.00000000   0.00000000    0.00000000       0.00000000   1000.00000000

<Caption>
            Ending
         Certificate    Total Principal
Class     Percentage      Distribution
-----    -----------    ---------------
<S>       <C>           <C>
  1A      0.92389231        17.14536781
  2A      0.92746940         9.74512168
 X-1A     0.00000000         0.00000000
 X-1B     0.00000000         0.00000000
  X-2     0.00000000         0.00000000
  X-B     0.00000000         0.00000000
  A-R     0.00000000         0.00000000
  B-1     1.00000000         0.00000000
  B-2     1.00000000         0.00000000
  B-3     1.00000000         0.00000000
  B-4     1.00000000         0.00000000
  B-5     1.00000000         0.00000000
  B-6     1.00000000         0.00000000
</Table>

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

<PAGE>

                                          INTEREST DISTRIBUTION STATEMENT
<Table>
<Caption>
                                               Beginning                    Payment of                 Non-
                               Current       Certificate/      Current       Unpaid      Current     Supported
            Original Face    Certificate       Notional        Accrued      Interest     Interest    Interest    Realized
 Class         Amount            Rate          Balance         Interest     Shortfall    Shortfall   Shortfall    Loss (4)
 -----    ----------------   -----------    --------------   ------------   ----------   ---------   ---------   ---------
<S>       <C>                <C>            <C>              <C>            <C>          <C>         <C>         <C>
   1A       798,206,000.00       1.49000%   751,141,917.97     932,667.88         0.00        0.00        0.00        0.00
   2A       190,000,000.00       1.59000%   178,070,758.47     235,943.75         0.00        0.00        0.00        0.00
  X-1A                0.00       0.91809%   171,166,750.16     130,955.99         0.00        0.00        0.00        0.00
  X-1B                0.00       1.14031%   579,975,168.80     551,125.41         0.00        0.00        0.00        0.00
   X-2                0.00       1.05856%   178,070,758.47     157,082.10         0.00        0.00        0.00        0.00
   X-B                0.00       0.60292%    15,905,000.00       7,991.14         0.00        0.00        0.00        0.00
   A-R              100.00       2.74783%             0.00           0.00         0.00        0.00        0.00        0.00
   B-1       15,905,000.00       1.99000%    15,905,000.00      26,375.79         0.00        0.00        0.00        0.00
   B-2        8,210,000.00       2.59292%     8,210,000.00      17,739.86         0.00        0.00        0.00        0.00
   B-3        5,644,000.00       2.59292%     5,644,000.00      12,195.35         0.00        0.00        0.00        0.00
   B-4        2,565,000.00       2.59292%     2,565,000.00       5,542.36         0.00        0.00        0.00        0.00
   B-5        1,539,000.00       2.59292%     1,539,000.00       3,325.41         0.00        0.00        0.00        0.00
   B-6        4,105,618.00       2.59292%     4,105,618.00       8,871.27         0.00        0.00        0.00        0.00
          ----------------   -----------    --------------   ------------   ----------   ---------   ---------   ---------
 Totals   1,026,174,718.00                                   2,089,816.31         0.00        0.00        0.00        0.00
          ----------------                                   ------------   ----------   ---------   ---------   ---------

<Caption>
                           Remaining       Ending
                              Unpaid    Certificate/
          Total Interest    Interest     Notational
 Class     Distribution    Shortfall      Balance
 -----    --------------   ---------   --------------
<S>       <C>              <C>         <C>
   1A         932,667.88        0.00   737,456,382.51
   2A         235,943.75        0.00   176,219,185.35
  X-1A        130,955.99        0.00   166,806,090.11
  X-1B        551,125.41        0.00   570,650,293.39
   X-2        157,082.10        0.00   176,219,185.35
   X-B          7,991.14        0.00    15,905,000.00
   A-R              0.00        0.00             0.00
   B-1         26,375.79        0.00    15,905,000.00
   B-2         17,739.86        0.00     8,210,000.00
   B-3         12,195.35        0.00     5,644,000.00
   B-4          5,542.36        0.00     2,565,000.00
   B-5          3,325.41        0.00     1,539,000.00
   B-6          8,871.27        0.00     4,105,618.00
          --------------   ---------   --------------
 Totals     2,089,816.31        0.00
          --------------   ---------
</Table>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<Table>
<Caption>
                                              Beginning                  Payment of                  Non-
                              Current       Certificate/     Current       Unpaid      Current      Supported
 Class    Original Face     Certificate       Notional       Accrued      Interest     Interest     Interest      Realized
  (5)        Amount             Rate          Balance        Interest     Shortfall    Shortfall    Shortfall     Loss (6)
 -----    --------------   ------------    --------------   ----------   ----------   ----------   ----------   ----------
<S>       <C>              <C>             <C>              <C>          <C>          <C>          <C>          <C>
   1A     798,206,000.00        1.49000%     941.03767445   1.16845511   0.00000000   0.00000000   0.00000000   0.00000000
   2A     190,000,000.00        1.59000%     937.21451826   1.24180921   0.00000000   0.00000000   0.00000000   0.00000000
  X-1A              0.00        0.91809%     934.42779285   0.71491056   0.00000000   0.00000000   0.00000000   0.00000000
  X-1B              0.00        1.14031%     943.00634438   0.89609829   0.00000000   0.00000000   0.00000000   0.00000000
   X-2              0.00        1.05856%     937.21451826   0.82674789   0.00000000   0.00000000   0.00000000   0.00000000
   X-B              0.00        0.60292%    1000.00000000   0.50242942   0.00000000   0.00000000   0.00000000   0.00000000
   A-R            100.00        2.74783%       0.00000000   0.00000000   0.00000000   0.00000000   0.00000000   0.00000000
   B-1     15,905,000.00        1.99000%    1000.00000000   1.65833323   0.00000000   0.00000000   0.00000000   0.00000000
   B-2      8,210,000.00        2.59292%    1000.00000000   2.16076248   0.00000000   0.00000000   0.00000000   0.00000000
   B-3      5,644,000.00        2.59292%    1000.00000000   2.16076364   0.00000000   0.00000000   0.00000000   0.00000000
   B-4      2,565,000.00        2.59292%    1000.00000000   2.16076413   0.00000000   0.00000000   0.00000000   0.00000000
   B-5      1,539,000.00        2.59292%    1000.00000000   2.16076023   0.00000000   0.00000000   0.00000000   0.00000000
   B-6      4,105,618.00        2.59292%    1000.00000000   2.16076362   0.00000000   0.00000000   0.00000000   0.00000000

<Caption>
                           Remaining       Ending
                             Unpaid     Certificate/
 Class    Total Interest    Interest     Notational
  (5)      Distribution    Shortfall      Balance
 -----    --------------   ----------   -------------
<S>       <C>              <C>          <C>
   1A         1.16845511   0.00000000    923.89230664
   2A         1.24180921   0.00000000    927.46939658
  X-1A        0.71491056   0.00000000    910.62222347
  X-1B        0.89609829   0.00000000    927.84463204
   X-2        0.82674789   0.00000000    927.46939658
   X-B        0.50242942   0.00000000   1000.00000000
   A-R        0.00000000   0.00000000     0.000000000
   B-1        1.65833323   0.00000000   1000.00000000
   B-2        2.16076248   0.00000000   1000.00000000
   B-3        2.16076364   0.00000000   1000.00000000
   B-4        2.16076413   0.00000000   1000.00000000
   B-5        2.16076023   0.00000000   1000.00000000
   B-6        2.16076362   0.00000000   1000.00000000
</Table>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                                    CERTIFICATE ACCOUNT

<Table>
<S>                                                        <C>
Beginning Balance                                                   0.00

Deposits
         Payments of Interest and Principal                17,939,149.61
         Liquidations, Insurance Proceeds, Reserve Funds            0.00
         Proceeds from Repurchased Loans                            0.00
         Other Amounts (Servicer Advances)                          0.00
         Realized Losses                                            0.00
         Prepayment Penalties                                       0.00
                                                           -------------
Total Deposits                                             17,939,149.61

Withdrawals
         Reimbursement for Servicer Advances                        0.00
         Payment of Service Fee                               312,224.71
         Payment of Interest and Principal                 17,626,924.90
                                                           -------------
Total Withdrawals (Pool Distribution Amount)               17,939,149.61

Ending Balance                                                      0.00
                                                           =============
</Table>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<Table>
<S>                                                        <C>
 Total Prepayment/Curtailment Interest Shortfall                 0.00
 Servicing Fee Support                                           0.00
                                                           ----------

 Non-Supported Prepayment Curtailment Interest Shortfall         0.00
                                                           ==========
</Table>

                                 SERVICING FEES

<Table>
<S>                                                        <C>
Gross Servicing Fee                                        304,164.86
Master Servicing Fee                                         8,059.85
Supported Prepayment/Curtailment Interest Shortfall              0.00
                                                           ----------

Net Servicing Fee                                          312,224.71
                                                           ==========
</Table>

<PAGE>

<Table>
<Caption>

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

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<Table>
<Caption>
              DELINQUENT                         BANKRUPTCY                          FORECLOSURE
---------------------------------   ---------------------------------   ---------------------------------

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

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

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%               0.000000%   0.000000%

<Caption>
              REO                                 TOTAL
---------------------------------   ---------------------------------

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

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

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

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

Current Period Class A Insufficient Funds:       0.00
Principal Balance of Contaminated Properties     0.00
Periodic Advance                                 0.00

<PAGE>

<Table>
<Caption>
                Original $       Original %        Current $       Current %      Current Class %   Prepayment %
            ----------------    ------------    --------------   -------------    ---------------   ------------
<S>         <C>                 <C>             <C>              <C>                 <C>                <C>
Class A     1,026,174,618.00    99.99999026%    951,644,185.86   100.00000000%       96.010209%         0.000000%
Class 1A      227,968,618.00    22.21538048%    214,187,803.35    22.50713098%       77.492869%     1,942.278706%
Class 2A       37,968,618.00     3.70001495%     37,968,618.00     3.98979141%       18.517340%       464.117986%
Class X-2      37,968,618.00     3.70001495%     37,968,618.00     3.98979141%        0.000000%         0.000000%
Class B-1      22,063,618.00     2.15008396%     22,063,618.00     2.31847347%        1.671318%        41.889858%
Class B-2      13,853,618.00     1.35002527%     13,853,618.00     1.45575607%        0.862717%        21.623120%
Class B-3       8,209,618.00     0.80002146%      8,209,618.00     0.86267726%        0.593079%        14.864908%
Class B-4       5,644,618.00     0.55006403%      5,644,618.00     0.59314375%        0.269534%         6.755579%
Class B-5       4,105,618.00     0.40008957%      4,105,618.00     0.43142364%        0.161720%         4.053347%
Class B-6               0.00     0.00000000%              0.00     0.00000000%        0.431424%        10.813188%
</Table>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     POOL 1

<Table>
<Caption>
              DELINQUENT                         BANKRUPTCY                          FORECLOSURE
---------------------------------   ---------------------------------   ---------------------------------

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

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

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%               0.000000%   0.000000%

<Caption>
              REO                                 TOTAL
---------------------------------   ---------------------------------

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

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

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

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

                                     POOL 2

<Table>
<Caption>
              DELINQUENT                         BANKRUPTCY                          FORECLOSURE
---------------------------------   ---------------------------------   ---------------------------------

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

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

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%               0.000000%   0.000000%

<Caption>
              REO                                 TOTAL
---------------------------------   ---------------------------------

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

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

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

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

<PAGE>

                              COLLATERAL STATEMENT

<Table>
<S>                                                    <C>
Collateral Description                                      Mixed Arm

Weighted Average Gross Coupon                                2.980257%
Weighted Average Net Coupon                                  2.602874%
Weighted Average Pass-Through Rate                           2.592874%
Weighted Average Maturity (Stepdown Calculation)                  320

Beginning Scheduled Collateral Loan Count                       2,739
Number of Loans Paid in Full                                       37
Ending Scheduled Collateral Loan Count                          2,702

Beginning Scheduled Collateral Balance                 967,181,294.44
Ending Scheduled Collateral Balance                    951,644,185.86
Ending Actual Collateral Balance at 29-Aug-2003        951,646,197.21

Monthly P&I Constant                                     2,402,047.33
Special Servicing Fee                                            0.00
Prepayment Penalties                                             0.00
Realization Loss Amount                                          0.00
Cumulative Realized Loss                                         0.00

Class A Optimal Amount                                  17,544,883.72

Ending Scheduled Balance for Premium Loans             951,644,185.86

Scheduled Principal                                              6.29
Unscheduled Principal                                   15,537,102.29
</Table>

MISCELLANEOUS REPORTING

Cap Agreement Deposit - 1 month Libor Loan                  0
Cap Agreement Deposit - 6 month Libor Loan                  0

<PAGE>

<Table>
<Caption>
             GROUP                           1                   2                  TOTAL
<S>                                   <C>                  <C>                  <C>

                                                             6 Month
Collateral Description                  Mixed ARM            LIBOR ARM            Mixed ARM
Weighted Average Coupon Rate                2.967619             3.033560             2.980257
Weighted Average Net Rate                   2.589671             2.658560             2.602874
Pass-Through Rate                           2.579671             2.648560             2.592874
Weighted Average Maturity                        318                  326                  320
Record Date                               08/29/2003           08/29/2003           08/29/2003
Principal and Interest Constant         1,933,435.63           468,611.70         2,402,047.33
Beginning Loan Count                           2,187                  552                2,739
Loans Paid in Full                                32                    5                   37
Ending Loan Count                              2,155                  547                2,702
Beginning Scheduled Balance           781,810,693.97       185,370,600.47       967,181,294.44
Ending Scheduled Balance              768,125,158.51       183,519,027.35       951,644,185.86
Scheduled Principal                             5.23                 1.06                 6.29
Unscheduled Principal                  13,685,530.23         1,851,572.06        15,537,102.29
Scheduled Interest                      1,933,430.40           468,610.64         2,402,041.04
Servicing Fee                             246,236.55            57,928.31           304,164.86
Master Servicing Fee                        6,515.11             1,544.74             8,059.85
Trustee Fee                                     0.00                 0.00                 0.00
FRY Amount                                      0.00                 0.00                 0.00
Special Hazard Fee                              0.00                 0.00                 0.00
Other Fee                                       0.00                 0.00                 0.00
Pool Insurance Fee                              0.00                 0.00                 0.00
Spread 1                                        0.00                 0.00                 0.00
Spread 2                                        0.00                 0.00                 0.00
Spread 3                                        0.00                 0.00                 0.00
Net Interest                            1,680,678.74           409,137.59         2,089,816.33
Realized Loss Amount                            0.00                 0.00                 0.00
Cumulative Realized Loss                        0.00                 0.00                 0.00
Percentage of Cumulative Losses                 0.00                 0.00                 0.00
Prepayment Penalties                            0.00                 0.00                 0.00
Special Servicing Fee                           0.00                 0.00                 0.00

</Table>

<PAGE>

                             MISCELLANEOUS REPORTING
<Table>
<S>                                  <C>
Group Pool 1
One Month Libor Loan Balance         173,743,094.88
Six Month Libor Loan Balance         594,382,063.63
Senior Percent                           100.000000%
Senior Prepayment Percent                100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepayment Percent             0.000000%

Group Pool 2
Six Month Libor Loan Balance         185,519,027.35
Senior Percent                           100.000000%
Senior Prepayment Percent                100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepayment Percent             0.000000%
</Table>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}]]