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 2003-4
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                            Certificate         Certificate      Beginning
                               Class            Pass-Through    Certificate        Interest        Principal
 Class          CUSIP       Description             Rate           Balance       Distribution     Distribution
--------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>                 <C>            <C>               <C>              <C>
 1-A-1        81743PBH8         SEN               1.45875%     143,776,694.20      174,778.54     2,427,415.98
 1-A-2        81743PBJ4         SEN               1.45375%     147,475,517.90      178,660.45     1,040,414.16
1-X-1A        81743PBM7          IO               0.85642%               0.00       48,971.57             0.00
1-X-1B        81743PBN5          IO               1.00960%               0.00       63,244.53             0.00
 1-X-2        81743PBP0          IO               1.01188%               0.00      124,366.02             0.00
 1-X-B        81743PBQ8          IO               0.63213%               0.00        2,040.11             0.00
 1-A-R        81743PBL9          R                2.39121%               0.00            0.00             0.00
 1-B-1        81743PBK1         SUB               1.79875%       3,864,000.00        5,791.98             0.00
 1-B-2        81743PBR6         SUB               2.43061%       2,628,000.00        5,323.03             0.00
 1-B-3        81743PBS4         SUB               2.43061%       1,546,000.00        3,131.43             0.00
 1-B-4        81743PBT2         SUB               2.43061%         773,000.00        1,565.72             0.00
 1-B-5        81743PBU9         SUB               2.43061%         464,000.00          939.83             0.00
 1-B-6        81743PBV7         SUB               2.43061%       1,236,668.87        2,504.88             0.00
 2-A-1        81743PBW5         SEN               1.49875%     182,606,007.62      228,067.29       494,304.28
 2-M-1        81743PBX3         MEZ               1.61875%       9,986,000.00       13,470.70             0.00
 2-X-1        81743PCA2          IO               0.89080%               0.00      135,566.36             0.00
 2-X-M        81743PCB0          IO               0.77080%               0.00        6,420.16             0.00
 2-X-B        81743PCC8          IO               0.59080%               0.00        1,171.17             0.00
 2-A-R        81743PBZ8          R                2.37007%               0.00            0.00             0.00
 2-B-1        81743PBY1         SUB               1.79875%       2,367,000.00        3,548.03             0.00
 2-B-2        81743PCD6         SUB               2.38955%         824,000.00        1,640.83             0.00
 2-B-3        81743PCE4         SUB               2.38955%       1,235,000.00        2,459.25             0.00
 2-B-4        81743PCF1         SUB               2.38955%         618,000.00        1,230.62             0.00
 2-B-5        81743PCG9         SUB               2.38955%         515,000.00        1,025.52             0.00
 2-B-6        81743PCH7         SUB               2.38955%         926,589.00        1,845.11             0.00
--------------------------------------------------------------------------------------------------------------
Totals                                                         500,841,477.59    1,007,763.13     3,962,134.42
--------------------------------------------------------------------------------------------------------------

<CAPTION>
                                                 Ending
                               Current         Certificate           Total              Cumulative
 Class          CUSIP       Realized Loss        Balance          Distribution         Realized Loss
----------------------------------------------------------------------------------------------------
<S>           <C>           <C>               <C>                 <C>                  <C>
 1-A-1        81743PBH8         0.00          141,349,278.22      2,602,194.52             0.00
 1-A-2        81743PBJ4         0.00          146,435,103.74      1,219,074.61             0.00
1-X-1A        81743PBM7         0.00                    0.00         48,971.57             0.00
1-X-1B        81743PBN5         0.00                    0.00         63,244.53             0.00
 1-X-2        81743PBP0         0.00                    0.00        124,366.02             0.00
 1-X-B        81743PBQ8         0.00                    0.00          2,040.11             0.00
 1-A-R        81743PBL9         0.00                    0.00              0.00             0.00
 1-B-1        81743PBK1         0.00            3,864,000.00          5,791.98             0.00
 1-B-2        81743PBR6         0.00            2,628,000.00          5,323.03             0.00
 1-B-3        81743PBS4         0.00            1,546,000.00          3,131.43             0.00
 1-B-4        81743PBT2         0.00              773,000.00          1,565.72             0.00
 1-B-5        81743PBU9         0.00              464,000.00            939.83             0.00
 1-B-6        81743PBV7         0.00            1,236,668.87          2,504.88             0.00
 2-A-1        81743PBW5         0.00          182,111,703.34        722,371.57             0.00
 2-M-1        81743PBX3         0.00            9,986,000.00         13,470.70             0.00
 2-X-1        81743PCA2         0.00                    0.00        135,566.36             0.00
 2-X-M        81743PCB0         0.00                    0.00          6,420.16             0.00
 2-X-B        81743PCC8         0.00                    0.00          1,171.17             0.00
 2-A-R        81743PBZ8         0.00                    0.00              0.00             0.00
 2-B-1        81743PBY1         0.00            2,367,000.00          3,548.03             0.00
 2-B-2        81743PCD6         0.00              824,000.00          1,640.83             0.00
 2-B-3        81743PCE4         0.00            1,235,000.00          2,459.25             0.00
 2-B-4        81743PCF1         0.00              618,000.00          1,230.62             0.00
 2-B-5        81743PCG9         0.00              515,000.00          1,025.52             0.00
 2-B-6        81743PCH7         0.00              926,589.00          1,845.11             0.00
----------------------------------------------------------------------------------------------------
Totals                          0.00          496,879,343.17      4,969,897.55             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>
 1-A-1       148,641,000.00    143,776,694.20         0.00     2,427,415.98      0.00       0.00
 1-A-2       150,000,000.00    147,475,517.90         0.00     1,040,414.16      0.00       0.00
1-X-1A                 0.00              0.00         0.00             0.00      0.00       0.00
1-X-1B                 0.00              0.00         0.00             0.00      0.00       0.00
 1-X-2                 0.00              0.00         0.00             0.00      0.00       0.00
 1-X-B                 0.00              0.00         0.00             0.00      0.00       0.00
 1-A-R               100.00              0.00         0.00             0.00      0.00       0.00
 1-B-1         3,864,000.00      3,864,000.00         0.00             0.00      0.00       0.00
 1-B-2         2,628,000.00      2,628,000.00         0.00             0.00      0.00       0.00
 1-B-3         1,546,000.00      1,546,000.00         0.00             0.00      0.00       0.00
 1-B-4           773,000.00        773,000.00         0.00             0.00      0.00       0.00
 1-B-5           464,000.00        464,000.00         0.00             0.00      0.00       0.00
 1-B-6         1,236,668.87      1,236,668.87         0.00             0.00      0.00       0.00
 2-A-1       189,415,000.00    182,606,007.62     9,457.12       484,847.16      0.00       0.00
 2-M-1         9,986,000.00      9,986,000.00         0.00             0.00      0.00       0.00
 2-X-1                 0.00              0.00         0.00             0.00      0.00       0.00
 2-X-M                 0.00              0.00         0.00             0.00      0.00       0.00
 2-X-B                 0.00              0.00         0.00             0.00      0.00       0.00
 2-A-R               100.00              0.00         0.00             0.00      0.00       0.00
 2-B-1         2,367,000.00      2,367,000.00         0.00             0.00      0.00       0.00
 2-B-2           824,000.00        824,000.00         0.00             0.00      0.00       0.00
 2-B-3         1,235,000.00      1,235,000.00         0.00             0.00      0.00       0.00
 2-B-4           618,000.00        618,000.00         0.00             0.00      0.00       0.00
 2-B-5           515,000.00        515,000.00         0.00             0.00      0.00       0.00
 2-B-6           926,589.00        926,589.00         0.00             0.00      0.00       0.00
--------------------------------------------------------------------------------------------------
Totals       515,039,457.87    500,841,477.59     9,457.12     3,952,677.30      0.00       0.00
--------------------------------------------------------------------------------------------------

<CAPTION>
                 Total          Ending          Ending
               Principal      Certificate     Certificate     Total Principal
 Class         Reduction        Balance       Percentage       Distribution
-----------------------------------------------------------------------------
<S>           <C>            <C>              <C>             <C>
 1-A-1        2,427,415.98   141,349,278.22   0.95094407       2,427,415.98
 1-A-2        1,040,414.16   146,435,103.74   0.97623402       1,040,414.16
1-X-1A                0.00             0.00   0.00000000               0.00
1-X-1B                0.00             0.00   0.00000000               0.00
 1-X-2                0.00             0.00   0.00000000               0.00
 1-X-B                0.00             0.00   0.00000000               0.00
 1-A-R                0.00             0.00   0.00000000               0.00
 1-B-1                0.00     3,864,000.00   1.00000000               0.00
 1-B-2                0.00     2,628,000.00   1.00000000               0.00
 1-B-3                0.00     1,546,000.00   1.00000000               0.00
 1-B-4                0.00       773,000.00   1.00000000               0.00
 1-B-5                0.00       464,000.00   1.00000000               0.00
 1-B-6                0.00     1,236,668.87   1.00000000               0.00
 2-A-1          494,304.28   182,111,703.34   0.96144288         494,304.28
 2-M-1                0.00     9,986,000.00   1.00000000               0.00
 2-X-1                0.00             0.00   0.00000000               0.00
 2-X-M                0.00             0.00   0.00000000               0.00
 2-X-B                0.00             0.00   0.00000000               0.00
 2-A-R                0.00             0.00   0.00000000               0.00
 2-B-1                0.00     2,367,000.00   1.00000000               0.00
 2-B-2                0.00       824,000.00   1.00000000               0.00
 2-B-3                0.00     1,235,000.00   1.00000000               0.00
 2-B-4                0.00       618,000.00   1.00000000               0.00
 2-B-5                0.00       515,000.00   1.00000000               0.00
 2-B-6                0.00       926,589.00   1.00000000               0.00
-----------------------------------------------------------------------------
Totals        3,962,134.42   496,879,343.17   0.96474034       3,962,134.42
-----------------------------------------------------------------------------
</TABLE>
(1) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                 Beginning      Scheduled       Unscheduled
            Original Face       Certificate     Principal        Principal                     Realized
Class           Amount            Balance      Distribution     Distribution   Accretion       Loss (3)
--------------------------------------------------------------------------------------------------------
<S>         <C>                <C>             <C>              <C>            <C>            <C>
 1-A-1      148,641,000.00      967.27480439    0.00000000      16.33072961    0.00000000     0.00000000
 1-A-2      150,000,000.00      983.17011933    0.00000000       6.93609440    0.00000000     0.00000000
1-X-1A                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
1-X-1B                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-X-2                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-X-B                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-A-R              100.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-1        3,864,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-2        2,628,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-3        1,546,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-4          773,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-5          464,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-6        1,236,668.87     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-A-1      189,415,000.00      964.05251759    0.04992804       2.55970837    0.00000000     0.00000000
 2-M-1        9,986,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-X-1                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-X-M                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-X-B                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-A-R              100.00        0.00000000     0.0000000       0.00000000    0.00000000     0.00000000
 2-B-1        2,367,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-2          824,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-3        1,235,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-4          618,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-5          515,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-6          926,589.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000

<CAPTION>
                  Total             Ending               Ending
                Principal         Certificate          Certificate      Total Principal
Class           Reduction           Balance             Percentage        Distribution
---------------------------------------------------------------------------------------
<S>            <C>               <C>                   <C>              <C>
 1-A-1         16.33072961        950.94407478          0.95094407        16.33072961
 1-A-2          6.93609440        976.23402493          0.97623402         6.93609440
1-X-1A          0.00000000          0.00000000          0.00000000         0.00000000
1-X-1B          0.00000000          0.00000000          0.00000000         0.00000000
 1-X-2          0.00000000          0.00000000          0.00000000         0.00000000
 1-X-B          0.00000000          0.00000000          0.00000000         0.00000000
 1-A-R          0.00000000          0.00000000          0.00000000         0.00000000
 1-B-1          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-2          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-3          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-4          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-5          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-6          0.00000000       1000.00000000          1.00000000         0.00000000
 2-A-1          2.60963641        961.44288119          0.96144288         2.60963641
 2-M-1          0.00000000       1000.00000000          1.00000000         0.00000000
 2-X-1          0.00000000          0.00000000          0.00000000         0.00000000
 2-X-M          0.00000000          0.00000000          0.00000000         0.00000000
 2-X-B          0.00000000          0.00000000          0.00000000         0.00000000
 2-A-R          0.00000000          0.00000000          0.00000000         0.00000000
 2-B-1          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-2          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-3          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-4          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-5          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-6          0.00000000       1000.00000000          1.00000000         0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                 Beginning                     Payment of
                                   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>
 1-A-1      148,641,000.00         1.45875%   143,776,694.20     174,778.54       0.00          0.00
 1-A-2      150,000,000.00         1.45375%   147,475,517.90     178,660.45       0.00          0.00
1-X-1A                0.00         0.85642%    68,604,808.91      48,962.28       0.00          0.00
1-X-1B                0.00         1.00960%    75,171,885.29      63,244.53       0.00          0.00
 1-X-2                0.00         1.01188%   147,475,517.90     124,356.73       0.00          0.00
 1-X-B                0.00         0.63213%     3,864,000.00       2,035.47       0.00          0.00
 1-A-R              100.00         2.39121%             0.00           0.00       0.00          0.00
 1-B-1        3,864,000.00         1.79875%     3,864,000.00       5,791.98       0.00          0.00
 1-B-2        2,628,000.00         2.43061%     2,628,000.00       5,323.03       0.00          0.00
 1-B-3        1,546,000.00         2.43061%     1,546,000.00       3,131.43       0.00          0.00
 1-B-4          773,000.00         2.43061%       773,000.00       1,565.72       0.00          0.00
 1-B-5          464,000.00         2.43061%       464,000.00         939.83       0.00          0.00
 1-B-6        1,236,668.87         2.43061%     1,236,668.87       2,504.88       0.00          0.00
 2-A-1      189,415,000.00         1.49875%   182,606,007.62     228,067.29       0.00          0.00
 2-M-1        9,986,000.00         1.61875%     9,986,000.00      13,470.70       0.00          0.00
 2-X-1                0.00         0.89080%   182,606,007.62     135,554.75       0.00          0.00
 2-X-M                0.00         0.77080%     9,986,000.00       6,414.35       0.00          0.00
 2-X-B                0.00         0.59080%     2,367,000.00       1,165.36       0.00          0.00
 2-A-R              100.00         2.37007%             0.00           0.00       0.00          0.00
 2-B-1        2,367,000.00         1.79875%     2,367,000.00       3,548.03       0.00          0.00
 2-B-2          824,000.00         2.38955%       824,000.00       1,640.83       0.00          0.00
 2-B-3        1,235,000.00         2.38955%     1,235,000.00       2,459.25       0.00          0.00
 2-B-4          618,000.00         2.38955%       618,000.00       1,230.62       0.00          0.00
 2-B-5          515,000.00         2.38955%       515,000.00       1,025.52       0.00          0.00
 2-B-6          926,589.00         2.38955%       926,589.00       1,845.11       0.00          0.00
------------------------------------------------------------------------------------------------------
Totals      515,039,457.87                                     1,007,716.68       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>
 1-A-1            0.00         0.00        174,778.54         0.00     141,349,278.22
 1-A-2            0.00         0.00        178,660.45         0.00     146,435,103.74
1-X-1A            0.00         0.00         48,971.57         0.00      66,747,523.28
1-X-1B            0.00         0.00         63,244.53         0.00      74,601,754.94
 1-X-2            0.00         0.00        124,366.02         0.00     146,435,103.74
 1-X-B            0.00         0.00          2,040.11         0.00       3,864,000.00
 1-A-R            0.00         0.00              0.00         0.00               0.00
 1-B-1            0.00         0.00          5,791.98         0.00       3,864,000.00
 1-B-2            0.00         0.00          5,323.03         0.00       2,628,000.00
 1-B-3            0.00         0.00          3,131.43         0.00       1,546,000.00
 1-B-4            0.00         0.00          1,565.72         0.00         773,000.00
 1-B-5            0.00         0.00            939.83         0.00         464,000.00
 1-B-6            0.00         0.00          2,504.88         0.00       1,236,668.87
 2-A-1            0.00         0.00        228,067.29         0.00     182,111,703.34
 2-M-1            0.00         0.00         13,470.70         0.00       9,986,000.00
 2-X-1            0.00         0.00        135,566.36         0.00     182,111,703.34
 2-X-M            0.00         0.00          6,420.16         0.00       9,986,000.00
 2-X-B            0.00         0.00          1,171.17         0.00       2,367,000.00
 2-A-R            0.00         0.00              0.00         0.00               0.00
 2-B-1            0.00         0.00          3,548.03         0.00       2,367,000.00
 2-B-2            0.00         0.00          1,640.83         0.00         824,000.00
 2-B-3            0.00         0.00          2,459.25         0.00       1,235,000.00
 2-B-4            0.00         0.00          1,230.62         0.00         618,000.00
 2-B-5            0.00         0.00          1,025.52         0.00         515,000.00
 2-B-6            0.00         0.00          1,845.11         0.00         926,589.00
-------------------------------------------------------------------------------------
Totals            0.00         0.00      1,007,763.13         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          Current        Unpaid         Current
              Original Face   Certificate    Certificate/        Accrued       Interest        Interest
Class (5)         Amount         Rate      Notional Balance      Interest     Shortfall       Shortfall
--------------------------------------------------------------------------------------------------------
<S>           <C>             <C>          <C>                  <C>           <C>             <C>
  1-A-1       148,641,000.00    1.45875%      967.27480439      1.17584341    0.00000000      0.00000000
  1-A-2       150,000,000.00    1.45375%      983.17011933      1.19106967    0.00000000      0.00000000
 1-X-1A                 0.00    0.85642%      975.03700631      0.69587010    0.00000000      0.00000000
 1-X-1B                 0.00    1.00960%      960.29781401      0.80792950    0.00000000      0.00000000
  1-X-2                 0.00    1.01188%      983.17011933      0.82904487    0.00000000      0.00000000
  1-X-B                 0.00    0.63213%     1000.00000000      0.52677795    0.00000000      0.00000000
  1-A-R               100.00    2.39121%        0.00000000      0.00000000    0.00000000      0.00000000
  1-B-1         3,864,000.00    1.79875%     1000.00000000      1.49895963    0.00000000      0.00000000
  1-B-2         2,628,000.00    2.43061%     1000.00000000      2.02550609    0.00000000      0.00000000
  1-B-3         1,546,000.00    2.43061%     1000.00000000      2.02550453    0.00000000      0.00000000
  1-B-4           773,000.00    2.43061%     1000.00000000      2.02551100    0.00000000      0.00000000
  1-B-5           464,000.00    2.43061%     1000.00000000      2.02549569    0.00000000      0.00000000
  1-B-6         1,236,668.87    2.43061%     1000.00000000      2.02550583    0.00000000      0.00000000
  2-A-1       189,415,000.00    1.49875%      964.05251759      1.20406140    0.00000000      0.00000000
  2-M-1         9,986,000.00    1.61875%     1000.00000000      1.34895854    0.00000000      0.00000000
  2-X-1                 0.00    0.89080%      964.05251759      0.71564950    0.00000000      0.00000000
  2-X-M                 0.00    0.77080%      000.00000000      0.64233427    0.00000000      0.00000000
  2-X-B                 0.00    0.59080%     1000.00000000      0.49233629    0.00000000      0.00000000
  2-A-R               100.00    2.37007%        0.00000000      0.00000000    0.00000000      0.00000000
  2-B-1         2,367,000.00    1.79875%     1000.00000000      1.49895649    0.00000000      0.00000000
  2-B-2           824,000.00    2.38955%     1000.00000000      1.99129854    0.00000000      0.00000000
  2-B-3         1,235,000.00    2.38955%     1000.00000000      1.99129555    0.00000000      0.00000000
  2-B-4           618,000.00    2.38955%     1000.00000000      1.99129450    0.00000000      0.00000000
  2-B-5           515,000.00    2.38955%     1000.00000000      1.99130097    0.00000000      0.00000000
  2-B-6           926,589.00    2.38955%     1000.00000000      1.99129280    0.00000000      0.00000000

<CAPTION>
                 Non-                                       Remaining
              Supported                                      Unpaid
               Interest       Realized      Total Interest   Interest      Ending Certificate/
Class (5)     Shortfall       Loss (6)       Distribution   Shortfall      Notational Balance
----------------------------------------------------------------------------------------------
<S>           <C>            <C>            <C>             <C>            <C>
  1-A-1       0.00000000     0.00000000       1.17584341    0.00000000         950.94407478
  1-A-2       0.00000000     0.00000000       1.19106967    0.00000000         976.23402493
 1-X-1A       0.00000000     0.00000000       0.69600213    0.00000000         948.64057362
 1-X-1B       0.00000000     0.00000000       0.80792950    0.00000000         953.01457338
  1-X-2       0.00000000     0.00000000       0.82910680    0.00000000         976.23402493
  1-X-B       0.00000000     0.00000000       0.52797878    0.00000000        1000.00000000
  1-A-R       0.00000000     0.00000000       0.00000000    0.00000000           0.00000000
  1-B-1       0.00000000     0.00000000       1.49895963    0.00000000        1000.00000000
  1-B-2       0.00000000     0.00000000       2.02550609    0.00000000        1000.00000000
  1-B-3       0.00000000     0.00000000       2.02550453    0.00000000        1000.00000000
  1-B-4       0.00000000     0.00000000       2.02551100    0.00000000        1000.00000000
  1-B-5       0.00000000     0.00000000       2.02549569    0.00000000        1000.00000000
  1-B-6       0.00000000     0.00000000       2.02550583    0.00000000        1000.00000000
  2-A-1       0.00000000     0.00000000       1.20406140    0.00000000         961.44288119
  2-M-1       0.00000000     0.00000000       1.34895854    0.00000000        1000.00000000
  2-X-1       0.00000000     0.00000000       0.71571079    0.00000000         961.44288119
  2-X-M       0.00000000     0.00000000       0.64291608    0.00000000        1000.00000000
  2-X-B       0.00000000     0.00000000       0.49479087    0.00000000        1000.00000000
  2-A-R       0.00000000     0.00000000       0.00000000    0.00000000           0.00000000
  2-B-1       0.00000000     0.00000000       1.49895649    0.00000000        1000.00000000
  2-B-2       0.00000000     0.00000000       1.99129854    0.00000000        1000.00000000
  2-B-3       0.00000000     0.00000000       1.99129555    0.00000000        1000.00000000
  2-B-4       0.00000000     0.00000000       1.99129450    0.00000000        1000.00000000
  2-B-5       0.00000000     0.00000000       1.99130097    0.00000000        1000.00000000
  2-B-6       0.00000000     0.00000000       1.99129280    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                                        5,115,031.62
         Liquidations, Insurance Proceeds, Reserve Funds                                  46.44
         Proceeds from Repurchased Loans                                                   0.00
         Other Amounts (Servicer Advances)                                             1,732.37
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                         0.00
         Prepayment Penalties                                                              0.00
                                                                                   ------------
Total Deposits                                                                     5,116,810.43

Withdrawals
         Reimbursement for Servicer Advances                                           1,798.88
         Payment of Service Fee                                                      145,114.00
         Payment of Interest and Principal                                         4,969,897.55
                                                                                   ------------
Total Withdrawals (Pool Distribution Amount)                                       5,116,810.43

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                                                    144,070.59
Master Servicing Fee                                                     1,043.41
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------

Net Servicing Fee                                                      145,114.00
                                                                       ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                      Beginning          Current        Current         Ending
     Account Type                      Balance        Withdrawals       Deposits        Balance
-----------------------------------------------------------------------------------------------
<S>                                   <C>             <C>               <C>            <C>
1-X-1A Reserve Fund                   4,000.00            9.29             9.29        4,000.00
1-X-2 Reserve Fund                    4,000.00            9.29             9.29        4,000.00
1-X-1B Reserve Fund                   2,000.00            4.64             4.64        2,000.00
2-X-1 Reserve Fund                    5,000.00           11.61            11.61        5,000.00
2-X-B Reserve Fund                    2,500.00            5.81             5.81        2,500.00
2-X-M Reserve Fund                    2,500.00            5.81             5.81        2,500.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
---------------------------------------  ---------------------------------   ---------------------------------
<S>            <C>           <C>         <C>         <C>         <C>         <C>         <C>         <C>
                 No. of      Principal                 No. of    Principal                 No. of    Principal
                 Loans        Balance                  Loans      Balance                  Loans      Balance

0-29 Days          0               0.00  0-29 Days       0         0.00      0-29 Days       0         0.00
30 Days            2         923,932.06  30 Days         0         0.00      30 Days         0         0.00
60 Days            0               0.00  60 Days         0         0.00      60 Days         0         0.00
90 Days            0               0.00  90 Days         0         0.00      90 Days         0         0.00
120 Days           0               0.00  120 Days        0         0.00      120 Days        0         0.00
150 Days           0               0.00  150 Days        0         0.00      150 Days        0         0.00
180+ Days          0               0.00  180+ Days       0         0.00      180+ Days       0         0.00
               --------      ----------              --------    --------                --------    --------
                   2         923,932.06                  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        0.196271%      0.185947%  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%
               --------       --------               --------    --------                --------    --------
               0.196271%      0.185947%              0.000000%   0.000000%               0.000000%   0.000000%
</TABLE>

<TABLE>
<CAPTION>
                REO                                 TOTAL
----------------------------------   ------------------------------------
<S>          <C>         <C>         <C>         <C>          <C>
               No. of    Principal                 No. of      Principal
               Loans      Balance                  Loans        Balance

0-29 Days        0         0.00      0-29 Days       0              0.00
30 Days          0         0.00      30 Days         2        923,932.06
60 Days          0         0.00      60 Days         0              0.00
90 Days          0         0.00      90 Days         0              0.00
120 Days         0         0.00      120 Days        0              0.00
150 Days         0         0.00      150 Days        0              0.00
180+ Days        0         0.00      180+ Days       0              0.00
             --------    --------                --------       --------
                 0         0.00                      2        923,932.06

               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     0.196271%      0.185947%
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%               0.196271%      0.185947%
</TABLE>

<TABLE>
<CAPTION>
<S>                                         <C>                                                 <C>                     <C>
Current Period Class A Insufficient Funds:  0.00  Principal Balance of Contaminated Properties  0.00  Periodic Advance  1,732.37
</TABLE>

<PAGE>

                                GROUP 1A - 1 Mo.

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
---------------------------------------  ---------------------------------   --------------------------------
<S>            <C>           <C>         <C>         <C>         <C>         <C>         <C>        <C>
                 No. of      Principal                 No. of     Principal               No. of    Principal
                 Loans        Balance                  Loans       Balance                 Loans     Balance

0-29 Days          0               0.00  0-29 Days       0           0.00    0-29 Days       0         0.00
30 Days            2         923,932.06  30 Days         0           0.00    30 Days         0         0.00
60 Days            0               0.00  60 Days         0           0.00    60 Days         0         0.00
90 Days            0               0.00  90 Days         0           0.00    90 Days         0         0.00
120 Days           0               0.00  120 Days        0           0.00    120 Days        0         0.00
150 Days           0               0.00  150 Days        0           0.00    150 Days        0         0.00
180+ Days          0               0.00  180+ Days       0           0.00    180+ Days       0         0.00
               --------      ----------              --------     --------               --------    --------
                   2         923,932.06                  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        1.282051%      1.334812%  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%
               --------       --------               --------     --------               --------    --------
               1.282051%      1.334812%              0.000000%    0.000000%              0.000000%   0.000000%
</TABLE>

<TABLE>
<CAPTION>
                REO                                 TOTAL
----------------------------------   ------------------------------------
<S>          <C>         <C>         <C>         <C>           <C>
               No. of    Principal                 No. of      Principal
               Loans      Balance                  Loans        Balance

0-29 Days        0         0.00      0-29 Days       0               0.00
30 Days          0         0.00      30 Days         2         923,932.06
60 Days          0         0.00      60 Days         0               0.00
90 Days          0         0.00      90 Days         0               0.00
120 Days         0         0.00      120 Days        0               0.00
150 Days         0         0.00      150 Days        0               0.00
180+ Days        0         0.00      180+ Days       0               0.00
             --------    --------                --------      -----------
                 0         0.00                      2         923,932.06

               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     1.282051%       1.334812%
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%               1.282051%       1.334812%
</TABLE>

                                Group 1A - 6 Mo.

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
---------------------------------------  ---------------------------------   ---------------------------------
<S>            <C>          <C>          <C>         <C>         <C>         <C>        <C>          <C>
                 No. of     Principal                  No. of    Principal                 No. of    Principal
                 Loans       Balance                   Loans      Balance                  Loans      Balance

0-29 Days          0          0.00       0-29 Days       0         0.00      0-29 Days       0         0.00
30 Days            0          0.00       30 Days         0         0.00      30 Days         0         0.00
60 Days            0          0.00       60 Days         0         0.00      60 Days         0         0.00
90 Days            0          0.00       90 Days         0         0.00      90 Days         0         0.00
120 Days           0          0.00       120 Days        0         0.00      120 Days        0         0.00
150 Days           0          0.00       150 Days        0         0.00      150 Days        0         0.00
180+ Days          0          0.00       180+ Days       0         0.00      180+ Days       0         0.00
               --------     ---------                --------    --------               --------    --------
                   0          0.00                       0         0.00                      0         0.00

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

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

<TABLE>
<CAPTION>
                REO                                 TOTAL
----------------------------------   ----------------------------------
<S>          <C>         <C>         <C>         <C>          <C>
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance

0-29 Days        0         0.00      0-29 Days       0          0.00
30 Days          0         0.00      30 Days         0          0.00
60 Days          0         0.00      60 Days         0          0.00
90 Days          0         0.00      90 Days         0          0.00
120 Days         0         0.00      120 Days        0          0.00
150 Days         0         0.00      150 Days        0          0.00
180+ Days        0         0.00      180+ Days       0          0.00
             --------    -------                 --------     --------
                 0         0.00                      0          0.00

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

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

<PAGE>

                                    GROUP 1B

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
---------------------------------------  ---------------------------------   ---------------------------------
<S>           <C>           <C>          <C>         <C>         <C>         <C>        <C>          <C>
                 No. of     Principal                  No. of    Principal                 No. of    Principal
                 Loans       Balance                   Loans      Balance                  Loans      Balance

0-29 Days          0          0.00       0-29 Days       0         0.00      0-29 Days       0         0.00
30 Days            0          0.00       30 Days         0         0.00      30 Days         0         0.00
60 Days            0          0.00       60 Days         0         0.00      60 Days         0         0.00
90 Days            0          0.00       90 Days         0         0.00      90 Days         0         0.00
120 Days           0          0.00       120 Days        0         0.00      120 Days        0         0.00
150 Days           0          0.00       150 Days        0         0.00      150 Days        0         0.00
180+ Days          0          0.00       180+ Days       0         0.00      180+ Days       0         0.00
              ------        ------                   -----       ------                 ------       ------
                   0          0.00                       0         0.00                      0         0.00

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

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

<TABLE>
<CAPTION>
                REO                                 TOTAL
----------------------------------   ----------------------------------
<S>          <C>         <C>         <C>         <C>          <C>
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance

0-29 Days        0         0.00      0-29 Days       0          0.00
30 Days          0         0.00      30 Days         0          0.00
60 Days          0         0.00      60 Days         0          0.00
90 Days          0         0.00      90 Days         0          0.00
120 Days         0         0.00      120 Days        0          0.00
150 Days         0         0.00      150 Days        0          0.00
180+ Days        0         0.00      180+ Days       0          0.00
                 0         0.00                      0          0.00

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

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

                                     Group 2

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
--------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>         <C>         <C>        <C>         <C>

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

0-29 Days          0          0.00       0-29 Days       0         0.00      0-29 Days       0         0.00
30 Days            0          0.00       30 Days         0         0.00      30 Days         0         0.00
60 Days            0          0.00       60 Days         0         0.00      60 Days         0         0.00
90 Days            0          0.00       90 Days         0         0.00      90 Days         0         0.00
120 Days           0          0.00       120 Days        0         0.00      120 Days        0         0.00
150 Days           0          0.00       150 Days        0         0.00      150 Days        0         0.00
180+ Days          0          0.00       180+ Days       0         0.00      180+ Days       0         0.00
              ------        ------                   -----       ------                 ------      -------
                   0          0.00                       0         0.00                      0         0.00

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

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

<TABLE>
<CAPTION>
                REO                                 TOTAL
-----------------------------------------------------------------------
<S>            <C>       <C>         <C>         <C>          <C>

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

0-29 Days        0         0.00      0-29 Days       0          0.00
30 Days          0         0.00      30 Days         0          0.00
60 Days          0         0.00      60 Days         0          0.00
90 Days          0         0.00      90 Days         0          0.00
120 Days         0         0.00      120 Days        0          0.00
150 Days         0         0.00      150 Days        0          0.00
180+ Days        0         0.00      180+ Days       0          0.00
             --------    --------                --------     --------
                 0         0.00                      0          0.00

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
COLLATERAL DESCRIPTION                                            MIXED ARM
<S>                                                            <C>
Weighted Average Gross Coupon                                        2.762143%
Weighted Average Net Coupon                                          2.416955%
Weighted Average Pass-Through Rate                                   2.414454%
Weighted Average Maturity (Stepdown Calculation)                          318

Beginning Scheduled Collateral Loan Count                               1,028
Number of Loans Paid in Full                                                9
Ending Scheduled Collateral Loan Count                                  1,019

Beginning Scheduled Collateral Balance                         500,841,478.34
Ending Scheduled Collateral Balance                            496,879,343.92
Ending Actual Collateral Balance at 31-Dec-2003                496,879,343.92

Monthly P&I Constant                                             1,162,286.93
Special Servicing Fee                                                    0.00
Prepayment Penalties                                                     0.00
Realized Loss Amount                                                     0.00
Cumulative Realized Loss                                                 0.00

Ending Scheduled Balance for Premium Loans                     496,879,343.92

Scheduled Principal                                                  9,457.12
Unscheduled Principal                                            3,952,677.30
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
MISCELLANEOUS REPORTING
<S>                                                            <C>
Group 1A Pro Rata Senior Percentage                             96.488792%
Group1B Pro Rata Senior Percentage                              96.543709%
Group 2 Pro Rata Senior Percentage                              91.726046%

Group 1A Senior Percentage                                     100.000000%
Group 1B Senior Percentage                                     100.000000%
Group 2 Senior Percentage                                      100.000000%

Group 1A Senior Prepayment Percentage                          100.000000%
Group 1B Senior Prepayment Percentage                          100.000000%
Group 2 Senior Prepayment Percentage                           100.000000%

Group 1 Subordinate Percentage                                   0.000000%
Group 2 Subordinate Percentage                                   0.000000%

Group 1 Subordinate Prepay Percentage                            0.000000%
Group 2 Subordinate Prepay Percentage                            0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                  GROUP 1A - 1 Mo   GROUP 1A - 6 Mo      GROUP 1B         GROUP 2           TOTAL
<S>                                <C>               <C>               <C>              <C>              <C>

Collateral Description                 1 Month           6 Month          6 Month         1 Month
                                      LIBOR ARM         LIBOR ARM        LIBOR ARM        LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate              2.692673          2.845849         2.843134         2.692051         2.762143
Weighted Average Net Rate                 2.317673          2.470849         2.468134         2.392052         2.416955
Pass-Through Rate                         2.315173          2.468349         2.465634         2.389551         2.414454
Weighted Average Maturity                      294               294              294              347              318
Record Date                             12/31/2003        12/31/2003       12/31/2003       12/31/2003       12/31/2003
Principal and Interest Constant         159,543.85        184,760.50       361,919.51       456,063.07     1,162,286.93
Beginning Loan Count                           160               236              421              211            1,028
Loans Paid in Full                               4                 2                2                1                9
Ending Loan Count                              156               234              419              210            1,019
Beginning Scheduled Balance          71,101,324.12     77,907,375.08   152,755,181.77   199,077,597.37   500,841,478.34
Ending Scheduled Balance             69,218,164.66     77,363,118.56   151,714,767.61   198,583,293.09   496,879,343.92
Scheduled Principal                           0.00              0.00             0.00         9,457.12         9,457.12
Unscheduled Principal                 1,883,159.46        544,256.52     1,040,414.16       484,847.16     3,952,677.30
Scheduled Interest                      159,543.85        184,760.50       361,919.51       446,605.95     1,152,829.81
Servicing Fee                            22,219.16         24,346.05        47,735.99        49,769.39       144,070.59
Master Servicing Fee                          0.00              0.00             0.00             0.00             0.00
Trustee Fee                                 148.13            162.31           318.24           414.73         1,043.41
FRY Amount                                    0.00              0.00             0.00             0.00             0.00
Special Hazard Fee                            0.00              0.00             0.00             0.00             0.00
Other Fee                                     0.00              0.00             0.00             0.00             0.00
Pool Insurance Fee                            0.00              0.00             0.00             0.00             0.00
Spread 1                                      0.00              0.00             0.00             0.00             0.00
Spread 2                                      0.00              0.00             0.00             0.00             0.00
Spread 3                                      0.00              0.00             0.00             0.00             0.00
Net Interest                            137,176.56        160,252.14       313,865.28       396,421.83     1,007,715.81
Realized Loss Amount                          0.00              0.00             0.00             0.00             0.00
Cumulative Realized Loss                      0.00              0.00             0.00             0.00             0.00
Percentage of Cumulative Losses               0.00              0.00             0.00             0.00             0.00
Prepayment Penalties                          0.00              0.00             0.00             0.00             0.00
Special Servicing Fee                         0.00              0.00             0.00             0.00             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 2003-5
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate                        Beginning
                      Class     Certificate Pass-    Certificate     Interest      Principal       Current      Ending Certificate
Class     CUSIP    Description     Through Rate        Balance     Distribution   Distribution  Realized Loss         Balance
----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>          <C>                <C>             <C>           <C>            <C>             <C>
 A-1    81743PCJ3      SEN          1.45875%       648,831,556.44    788,735.86   7,054,507.29      0.00          641,777,049.15
 A-2    81743PCK0      SEN          1.53125%       145,943,238.66    186,229.65   3,784,388.65      0.00          142,158,850.01
 X-1A   81743PCL8      IO           1.02688%                 0.00     75,849.88           0.00      0.00                    0.00
 X-1B   81743PCM6      IO           1.26229%                 0.00    589,282.36           0.00      0.00                    0.00
 X-2    81743PCN4      IO           1.17582%                 0.00    143,006.98           0.00      0.00                    0.00
 X-B    81743PCP9      IO           0.94343%                 0.00     11,831.40           0.00      0.00                    0.00
 A-R    81743PCQ7       R           2.70140%                 0.00          0.00           0.00      0.00                    0.00
 B-1    81743PCR5      SUB          1.74875%        15,043,000.00     21,922.04           0.00      0.00           15,043,000.00
 B-2    81743PCS3      SUB          2.69218%         6,447,000.00     14,463.73           0.00      0.00            6,447,000.00
 B-3    81743PCT1      SUB          2.69218%         6,017,000.00     13,499.03           0.00      0.00            6,017,000.00
 B-4    SEQ0305B4      SUB          2.69218%         2,149,000.00      4,821.24           0.00      0.00            2,149,000.00
 B-5    SEQ0305B5      SUB          2.69218%         1,289,000.00      2,891.85           0.00      0.00            1,289,000.00
 B-6    SEQ0305B6      SUB          2.69218%         3,439,209.40      7,715.80           0.00      0.00            3,439,209.40
--------------------------------------------------------------------------------------------------------------------------------
Totals                                             829,159,004.50  1,860,249.82  10,838,895.94      0.00          818,320,108.56
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                       Total             Cumulative
Class     CUSIP     Distribution        Realized Loss
-----------------------------------------------------
<S>     <C>        <C>                  <C>
 A-1    81743PCJ3   7,843,243.15            0.00
 A-2    81743PCK0   3,970,618.30            0.00
 X-1A   81743PCL8      75,849.88            0.00
 X-1B   81743PCM6     589,282.36            0.00
 X-2    81743PCN4     143,006.98            0.00
 X-B    81743PCP9      11,831.40            0.00
 A-R    81743PCQ7           0.00            0.00
 B-1    81743PCR5      21,922.04            0.00
 B-2    81743PCS3      14,463.73            0.00
 B-3    81743PCT1      13,499.03            0.00
 B-4    SEQ0305B4       4,821.24            0.00
 B-5    SEQ0305B5       2,891.85            0.00
 B-6    SEQ0305B6       7,715.80            0.00
------------------------------------------------
Totals             12,699,145.76            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  Ending Certificate
Class       Amount         Balance      Distribution   Distribution  Accretion  Loss (1)     Reduction          Balance
-----------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>           <C>            <C>        <C>       <C>              <C>
 A-1    675,596,000.00  648,831,556.44     330.26      7,054,177.03     0.00      0.00      7,054,507.29     641,777,049.15
 A-2    149,609,000.00  145,943,238.66       6.10      3,784,382.55     0.00      0.00      3,784,388.65     142,158,850.01
 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     15,043,000.00   15,043,000.00       0.00              0.00     0.00      0.00              0.00      15,043,000.00
 B-2      6,447,000.00    6,447,000.00       0.00              0.00     0.00      0.00              0.00       6,447,000.00
 B-3      6,017,000.00    6,017,000.00       0.00              0.00     0.00      0.00              0.00       6,017,000.00
 B-4      2,149,000.00    2,149,000.00       0.00              0.00     0.00      0.00              0.00       2,149,000.00
 B-5      1,289,000.00    1,289,000.00       0.00              0.00     0.00      0.00              0.00       1,289,000.00
 B-6      3,439,209.40    3,439,209.40       0.00              0.00     0.00      0.00              0.00       3,439,209.40
---------------------------------------------------------------------------------------------------------------------------
Totals  859,589,309.40  829,159,004.50     336.36     10,838,559.58     0.00      0.00     10,838,895.94     818,320,108.56
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

        Ending Certificate     Total Principal
Class       Percentage           Distribution
----------------------------------------------
<S>     <C>                    <C>
 A-1        0.94994205           7,054,507.29
 A-2        0.95020253           3,784,388.65
 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      0.95198963          10,838,895.94
---------------------------------------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                          Beginning       Scheduled    Unscheduled
        Original Face    Certificate      Principal     Principal                 Realized   Total Principal  Ending Certificate
Class      Amount          Balance      Distribution  Distribution    Accretion   Loss (3)      Reduction          Balance
--------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>           <C>            <C>         <C>         <C>              <C>
 A-1    675,596,000.00   960.38395201    0.00048884    10.44141326   0.00000000  0.00000000    10.44190210       949.94204991
 A-2    149,609,000.00   975.49772179    0.00004077    25.29515303   0.00000000  0.00000000    25.29519381       950.20252799
 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     15,043,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-2      6,447,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-3      6,017,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-4      2,149,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-5      1,289,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-6      3,439,209.40  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
</TABLE>

<TABLE>
<CAPTION>
        Ending Certificate      Total Principal
Class       Percentage            Distribution
-----------------------------------------------
<S>     <C>                     <C>
 A-1        0.94994205            10.44190210
 A-2        0.95020253            25.29519381
 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-
                                           Certificate/     Current       Unpaid     Current   Supported
        Original Face       Current          Notional       Accrued      Interest   Interest    Interest  Realized  Total Interest
Class       Amount      Certificate Rate      Balance       Interest    Shortfall   Shortfall  Shortfall  Loss (4)   Distribution
----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>               <C>             <C>           <C>         <C>        <C>        <C>       <C>
 A-1    675,596,000.00      1.45875%      648,831,556.44    788,735.86     0.00        0.00       0.00      0.00       788,735.86
 A-2    149,609,000.00      1.53125%      145,943,238.66    186,229.65     0.00        0.00       0.00      0.00       186,229.65
 X-1A             0.00      1.02688%       88,635,720.72     75,848.80     0.00        0.00       0.00      0.00        75,849.88
 X-1B             0.00      1.26229%      560,195,835.72    589,273.96     0.00        0.00       0.00      0.00       589,282.36
 X-2              0.00      1.17582%      145,943,238.66    143,002.24     0.00        0.00       0.00      0.00       143,006.98
 X-B              0.00      0.94343%       15,043,000.00     11,826.66     0.00        0.00       0.00      0.00        11,831.40
 A-R            100.00      2.70140%                0.00          0.00     0.00        0.00       0.00      0.00             0.00
 B-1     15,043,000.00      1.74875%       15,043,000.00     21,922.04     0.00        0.00       0.00      0.00        21,922.04
 B-2      6,447,000.00      2.69218%        6,447,000.00     14,463.73     0.00        0.00       0.00      0.00        14,463.73
 B-3      6,017,000.00      2.69218%        6,017,000.00     13,499.03     0.00        0.00       0.00      0.00        13,499.03
 B-4      2,149,000.00      2.69218%        2,149,000.00      4,821.24     0.00        0.00       0.00      0.00         4,821.24
 B-5      1,289,000.00      2.69218%        1,289,000.00      2,891.85     0.00        0.00       0.00      0.00         2,891.85
 B-6      3,439,209.40      2.69218%        3,439,209.40      7,715.80     0.00        0.00       0.00      0.00         7,715.80
      ---------------------------------------------------------------------------------------------------------------------------
Totals  859,589,309.40                                    1,860,230.86     0.00        0.00       0.00      0.00     1,860,249.82
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
        Remaining         Ending
         Unpaid        Certificate/
        Interest        Notational
Class   Shortfall        Balance
------------------------------------
<S>     <C>           <C>
 A-1      0.00        641,777,049.15
 A-2      0.00        142,158,850.01
 X-1A     0.00         88,539,867.69
 X-1B     0.00        553,237,181.46
 X-2      0.00        142,158,850.01
 X-B      0.00         15,043,000.00
 A-R      0.00                  0.00
 B-1      0.00         15,043,000.00
 B-2      0.00          6,447,000.00
 B-3      0.00          6,017,000.00
 B-4      0.00          2,149,000.00
 B-5      0.00          1,289,000.00
 B-6      0.00          3,439,209.40
      ------------------------------
Totals    0.00
------------------------------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                           Payment of                 Non-
                             Current        Beginning                        Unpaid      Current    Supported
Class (5)  Original Face   Certificate    Certificate/    Current Accrued   Interest    Interest    Interest    Realized
               Amount          Rate     Notional Balance     Interest       Shortfall   Shortfall   Shortfall   Loss (6)
-------------------------------------------------------------------------------------------------------------------------
<S>        <C>             <C>          <C>               <C>              <C>         <C>         <C>         <C>
   A-1     675,596,000.00    1.45875%      960.38395201      1.16746674    0.00000000  0.00000000  0.00000000  0.00000000
   A-2     149,609,000.00    1.53125%      975.49772179      1.24477572    0.00000000  0.00000000  0.00000000  0.00000000
   X-1A              0.00    1.02688%      985.85898375      0.84363528    0.00000000  0.00000000  0.00000000  0.00000000
   X-1B              0.00    1.26229%      956.47336708      1.00612110    0.00000000  0.00000000  0.00000000  0.00000000
   X-2               0.00    1.17582%      975.49772179      0.95583982    0.00000000  0.00000000  0.00000000  0.00000000
   X-B               0.00    0.94343%     1000.00000000      0.78619025    0.00000000  0.00000000  0.00000000  0.00000000
   A-R             100.00    2.70140%        0.00000000      0.00000000    0.00000000  0.00000000  0.00000000  0.00000000
   B-1      15,043,000.00    1.74875%     1000.00000000      1.45729176    0.00000000  0.00000000  0.00000000  0.00000000
   B-2       6,447,000.00    2.69218%     1000.00000000      2.24348224    0.00000000  0.00000000  0.00000000  0.00000000
   B-3       6,017,000.00    2.69218%     1000.00000000      2.24348180    0.00000000  0.00000000  0.00000000  0.00000000
   B-4       2,149,000.00    2.69218%     1000.00000000      2.24348069    0.00000000  0.00000000  0.00000000  0.00000000
   B-5       1,289,000.00    2.69218%     1000.00000000      2.24348332    0.00000000  0.00000000  0.00000000  0.00000000
   B-6       3,439,209.40    2.69218%     1000.00000000      2.24348073    0.00000000  0.00000000  0.00000000  0.00000000
</TABLE>

<TABLE>
<CAPTION>
                              Remaining
                               Unpaid
Class (5)  Total Interest     Interest       Ending Certificate/
            Distribution      Shortfall      Notational Balance
----------------------------------------------------------------
<S>        <C>               <C>             <C>
   A-1       1.16746674      0.00000000          949.94204991
   A-2       1.24477572      0.00000000          950.20252799
   X-1A      0.84364729      0.00000000          984.79284958
   X-1B      1.00613544      0.00000000          944.59222295
   X-2       0.95587151      0.00000000          950.20252799
   X-B       0.78650535      0.00000000         1000.00000000
   A-R       0.00000000      0.00000000            0.00000000
   B-1       1.45729176      0.00000000         1000.00000000
   B-2       2.24348224      0.00000000         1000.00000000
   B-3       2.24348180      0.00000000         1000.00000000
   B-4       2.24348069      0.00000000         1000.00000000
   B-5       2.24348332      0.00000000         1000.00000000
   B-6       2.24348073      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                                    12,972,220.36
           Liquidations, Insurance Proceeds, Reserve Funds                               18.97
           Proceeds from Repurchased Loans                                                0.00
           Other Amounts (Servicer Advances)                                         17,740.45
           Realized Losses (Gains, Subsequent Expenses & Recoveries)                      0.00
           Prepayment Penalties                                                           0.00
                                                                                 -------------
Total Deposits                                                                   12,989,979.78

Withdrawals
           Reimbursement for Servicer Advances                                       26,381.73
           Payment of Service Fee                                                   264,452.29
           Payment of Interest and Principal                                     12,699,145.76
                                                                                 -------------
Total Withdrawals (Pool Distribution Amount)                                     12,989,979.78

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                                                  259,270.07
Master Servicing Fee                                                   5,182.22
Supported Prepayment/Curtailment Interest Shortfall                        0.00
                                                                     ----------

Net Servicing Fee                                                    264,452.29
                                                                     ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                           Beginning       Current       Current      Ending
      Account Type          Balance      Withdrawals     Deposits     Balance
----------------------     ---------     -----------     --------    --------
<S>                        <C>           <C>             <C>         <C>
Class X-1 Reserve Fund     5,000.00          9.49          9.49      5,000.00
Class X-2 Reserve Fund     2,500.00          4.74          4.74      2,500.00
Class X-B Reserve Fund     2,500.00          4.74          4.74      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              21         6,941,073.17   30 Days             0           0.00       30 Days            0            0.00
60 Days               1           400,000.00   60 Days             0           0.00       60 Days            0            0.00
90 Days               1           255,000.00   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
                  --------------------------                   --------------------                      ---------------------
                     23         7,596,073.17                       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           0.945520%      0.848209%     30 Days         0.000000%     0.000000%    30 Days        0.000000%      0.000000%
60 Days           0.045025%      0.048881%     60 Days         0.000000%     0.000000%    60 Days        0.000000%      0.000000%
90 Days           0.045025%      0.031161%     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%
                  -----------------------                      ----------------------                    -----------------------
                  1.035570%      0.928251%                     0.000000%     0.000000%                   0.000000%      0.000000%
</TABLE>

<TABLE>
<CAPTION>
                  REO                                        TOTAL
--------------------------------------    -----------------------------------------
                 No. of      Principal                     No. of        Principal
                 Loans        Balance                      Loans          Balance
<S>            <C>           <C>          <C>            <C>           <C>
0-29 Days          0            0.00      0-29 Days          0                 0.00
30 Days            0            0.00      30 Days           21         6,941,073.17
60 Days            0            0.00      60 Days            1           400,000.00
90 Days            0            0.00      90 Days            1           255,000.00
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                        23         7,596,073.17

                 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        0.945520%       0.848209%
60 Days        0.000000%     0.000000%    60 Days        0.045025%       0.048881%
90 Days        0.000000%     0.000000%    90 Days        0.045025%       0.031161%
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%                   1.035570%       0.928251%
</TABLE>

<TABLE>
<S>                                        <C>   <C>                                           <C>                     <C>
Current Period Class A Insufficient Funds  0.00  Principal Balance of Contaminated Properties  0.00  Periodic Advance  17,740.45
</TABLE>

<PAGE>

     SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
                                   PERCENTAGE

<TABLE>
<CAPTION>
                 Original $       Original%          Current $        Current %      Current Class %      Prepayment %
               -------------     -----------       -------------     -----------     ---------------      ------------
<S>            <C>               <C>               <C>               <C>             <C>                  <C>
Class A        34,384,209.40     4.00007411%       34,384,209.40     4.20180429%        95.798196%          0.000000%
Class X-1-A    34,384,209.40     4.00007411%       34,384,209.40     4.20180429%         0.000000%          0.000000%
Class X-1-B    34,384,209.40     4.00007411%       34,384,209.40     4.20180429%         0.000000%          0.000000%
Class X-2      34,384,209.40     4.00007411%       34,384,209.40     4.20180429%         0.000000%          0.000000%
Class B-1      19,341,209.40     2.25005234%       19,341,209.40     2.36352611%         1.838278%         43.749734%
Class B-2      12,894,209.40     1.50004302%       12,894,209.40     1.57569260%         0.787834%         18.749886%
Class B-3       6,877,209.40     0.80005758%        6,877,209.40     0.84040577%         0.735287%         17.499312%
Class B-4       4,728,209.40     0.55005447%        4,728,209.40     0.57779460%         0.262611%          6.249962%
Class B-5       3,439,209.40     0.40009914%        3,439,209.40     0.42027678%         0.157518%          3.748814%
Class B-6               0.00     0.00000000%                0.00     0.00000000%         0.420277%         10.002293%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
--------------------------------------------   ---------------------------------------    ---------------------------------------
ONE-MONTH LIBOR - GROUP 1
                    No. of       Principal                       No. of      Principal                     No. of       Principal
                    Loans         Balance                        Loans        Balance                      Loans         Balance
<S>               <C>            <C>           <C>             <C>           <C>          <C>            <C>            <C>
0-29 Days             0             0.00       0-29 Days           0           0.00       0-29 Days          0            0.00
30 Days               0             0.00       30 Days             0           0.00       30 Days            0            0.00
60 Days               0             0.00       60 Days             0           0.00       60 Days            0            0.00
90 Days               0             0.00       90 Days             0           0.00       90 Days            0            0.00
120 Days              0             0.00       120 Days            0           0.00       120 Days           0            0.00
150 Days              0             0.00       150 Days            0           0.00       150 Days           0            0.00
180+ Days             0             0.00       180+ Days           0           0.00       180+ Days          0            0.00
                  ----------------------                       --------------------                      ---------------------
                      0             0.00                           0           0.00                          0            0.00

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

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

<TABLE>
<CAPTION>
                  REO                                        TOTAL
--------------------------------------    -----------------------------------------
ONE-MONTH LIBOR - GROUP 1
                 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>

<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
--------------------------------------------   ---------------------------------------    ---------------------------------------
SIX-MONTH LIBOR - GROUP 1
                    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        5,488,933.17    30 Days             0            0.00      30 Days            0             0.00
60 Days               1          400,000.00    60 Days             0            0.00      60 Days            0             0.00
90 Days               1          255,000.00    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
                  -------------------------                    ---------------------                     ----------------------
                      18       6,143,933.17                        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           0.982198%      0.950458%     30 Days         0.000000%     0.000000%    30 Days        0.000000%      0.000000%
60 Days           0.061387%      0.069264%     60 Days         0.000000%     0.000000%    60 Days        0.000000%      0.000000%
90 Days           0.061387%      0.044156%     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%
                  -----------------------                      ----------------------                    -----------------------
                  1.104972%      1.063877%                     0.000000%     0.000000%                   0.000000%      0.000000%
</TABLE>

<TABLE>
<CAPTION>
                  REO                                        TOTAL
--------------------------------------    ------------------------------------------
SIX-MONTH LIBOR - GROUP 1
                 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          5,488,933.17
60 Days            0            0.00      60 Days            1            400,000.00
90 Days            0            0.00      90 Days            1            255,000.00
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                        18          6,143,933.17

                 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        0.982198%       0.950458%
60 Days        0.000000%     0.000000%    60 Days        0.061387%       0.069264%
90 Days        0.000000%     0.000000%    90 Days        0.061387%       0.044156%
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%                   1.104972%       1.063877%
</TABLE>

<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
--------------------------------------------   ---------------------------------------    ---------------------------------------
SIX-MONTH LIBOR - GROUP 2
                    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        1,452,140.00    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
                  -------------------------                    ---------------------                     ----------------------
                      5        1,452,140.00                        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           1.275510%      0.978574%     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%
                  -----------------------                      ----------------------                    -----------------------
                  1.275510%      0.978574%                     0.000000%     0.000000%                   0.000000%      0.000000%
</TABLE>

<TABLE>
<CAPTION>
                  REO                                        TOTAL
--------------------------------------    ------------------------------------------
SIX-MONTH LIBOR - GROUP 2
                 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          1,452,140.00
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                         5          1,452,140.00

                 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        1.275510%       0.978574%
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%                   1.275510%       0.978574%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
            Collateral Description                                     Mixed Arm
<S>                                                                 <C>
Weighted Average Gross Coupon                                             3.074947%
Weighted Average Net Coupon                                               2.699718%
Weighted Average Pass-Through Rate                                        2.692218%
Weighted Average Maturity (Stepdown Calculation)                               332

Beginning Scheduled Collateral Loan Count                                    2,240
Number of Loans Paid in Full                                                    19
Ending Scheduled Collateral Loan Count                                       2,221

Beginning Scheduled Collateral Balance                              829,159,004.50
Ending Scheduled Collateral Balance                                 818,320,108.56
Ending Actual Collateral Balance at 31-Dec-2003                     818,321,173.13

Monthly P&I Constant                                                  2,125,019.54
Special Servicing Fee                                                         0.00
Prepayment Penalties                                                          0.00
Realized Loss Amount                                                          0.00
Cumulative Realized Loss                                                      0.00

Class A Optimal Amount                                               12,621,986.46

Ending Scheduled Balance for Premium Loans                          818,320,108.56

Scheduled Principal                                                         336.36
Unscheduled Principal                                                10,838,559.58
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
Pro Rata Senior Percent - Group 1                                  95.841893%
Pro Rata Senior Percent - Group 2                                  95.903077%

Senior Percent - Group 1                                          100.000000%
Senior Percent - Group 2                                          100.000000%

Senior Prepayment Percent - Group 1                               100.000000%
Senior Prepayment Percent - Group 2                               100.000000%

Subordinate Percent - Group 1                                       0.000000%
Subordinate Percent - Group 2                                       0.000000%

Subordinate Prepayment Percent - Group 1                            0.000000%
Subordinate Prepayment Percent - Group 2                            0.000000%

Principal Transfer Amount - Group 1                                     0.00
Principal Transfer Amount - Group 2                                     0.00

Interest Transfer Amount - Group 1                                      0.00
Interest Transfer Amount - Group 2                                      0.00
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                  1 MO. LIBOR - GR 1   6 MO LIBOR - GR 1   6 MO LIBOR - GR 2         TOTAL
Collateral Description             1 Month LIBOR ARM    6 Month LIBOR ARM   6 Month LIBOR ARM        Mixed ARM
<S>                                <C>                  <C>                 <C>                   <C>
Weighted Average Coupon Rate                2.868134             3.103823           3.089720            3.074947
Weighted Average Net Rate                   2.493134             2.728538           2.714568            2.699718
Pass-Through Rate                           2.485634             2.721038           2.707068            2.692218
Weighted Average Maturity                        317                  335                332                 332
Record Date                               12/31/2003           12/31/2003         12/31/2003          12/31/2003
Principal and Interest Constant           221,051.43         1,512,139.56         391,828.55        2,125,019.54
Beginning Loan Count                             200                1,643                397               2,240
Loans Paid in Full                                 0                   14                  5                  19
Ending Loan Count                                200                1,629                392               2,221
Beginning Scheduled Balance            92,481,187.39       584,499,969.54     152,177,847.57      829,159,004.50
Ending Scheduled Balance               92,423,399.99       577,503,249.65     148,393,458.92      818,320,108.56
Scheduled Principal                            11.10               319.16               6.10              336.36
Unscheduled Principal                      57,776.30         6,996,400.73       3,784,382.55       10,838,559.58
Scheduled Interest                        221,040.33         1,511,820.40         391,822.45        2,124,683.18
Servicing Fee                              28,900.37           182,794.85          47,574.85          259,270.07
Master Servicing Fee                          578.00             3,653.11             951.11            5,182.22
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                              191,561.96         1,325,372.44         343,296.49        1,860,230.89
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>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}]]