Document:

<PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2004-6
                          RECORD DATE: OCTOBER 29, 2004
                      DISTRIBUTION DATE: NOVEMBER 22, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                    Certificate                       Beginning
                       Class    Certificate Pass-    Certificate        Interest
   Class    CUSIP   Description    Through Rate         Balance       Distribution
--------  --------- ----------- -----------------  ---------------- ----------------
<S>       <C>       <C>         <C>                <C>              <C>
   A-1    81744FCG0     SEN               2.88519%   472,107,011.99     1,135,096.84
   A-2    81744FCH8     SEN               2.19000%   175,974,114.59       321,152.76
  A-3-A   81744FCJ4     SEN               2.16375%   186,173,861.16       335,694.74
  A-3-B   81744FCU9     SEN               2.30625%     3,316,073.86         6,373.08
   X-A    81744FCK1     IO                0.73149%             0.00       222,777.76
   X-B    81744FCL9     IO                0.34489%             0.00         7,178.06
   B-1    81744FCN5     SUB               2.41000%    15,725,000.00        31,581.04
   B-2    81744FCP0     SUB               2.79000%     9,250,000.00        21,506.25
   B-3    81744FCQ8     SUB               2.89563%     5,550,000.00        13,392.30
   B-4    81744FCR6     SUB               2.89563%     2,313,000.00         5,581.33
   B-5    81744FCS4     SUB               2.89563%     2,313,000.00         5,581.33
   B-6    81744FCT2     SUB               2.89563%     4,166,584.59        10,054.08
   A-R    81744FCM7      R                2.87878%             0.00             0.23
                                                   ---------------- ----------------
Totals                                               876,888,646.19     2,115,969.80
                                                   ---------------- ----------------

<CAPTION>
               Principal       Current      Ending Certificate         Total          Cumulative
 Class       Distribution   Realized Loss         Balance          Distribution      Realized Loss
--------    -------------- --------------- --------------------  ----------------  ----------------
<S>         <C>            <C>             <C>                   <C>               <C>
   A-1        6,621,611.80            0.00       465,485,400.19      7,756,708.64              0.00
   A-2        2,419,579.69            0.00       173,554,534.90      2,740,732.45              0.00
  A-3-A       2,113,936.85            0.00       184,059,924.31      2,449,631.59              0.00
  A-3-B          37,652.82            0.00         3,278,421.04         44,025.90              0.00
   X-A                0.00            0.00                 0.00        222,777.76              0.00
   X-B                0.00            0.00                 0.00          7,178.06              0.00
   B-1                0.00            0.00        15,725,000.00         31,581.04              0.00
   B-2                0.00            0.00         9,250,000.00         21,506.25              0.00
   B-3                0.00            0.00         5,550,000.00         13,392.30              0.00
   B-4                0.00            0.00         2,313,000.00          5,581.33              0.00
   B-5                0.00            0.00         2,313,000.00          5,581.33              0.00
   B-6                0.00            0.00         4,166,584.59         10,054.08              0.00
   A-R                0.00            0.00                 0.00              0.23              0.00
            -------------- --------------- --------------------  ----------------  ----------------
Totals       11,192,781.16            0.00       865,695,865.03     13,308,750.96              0.00
            -------------- --------------- --------------------  ----------------  ----------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                               Beginning      Scheduled     Unscheduled
            Original Face     Certificate     Principal      Principal                 Realized
 Class          Amount          Balance      Distribution   Distribution    Accretion  Loss (1)
--------  -----------------  --------------  ------------  ---------------  ---------  ---------
<S>       <C>                <C>             <C>           <C>              <C>        <C>
   A-1       500,000,000.00  472,107,011.99     11,741.50     6,609,870.30       0.00       0.00
   A-2       185,687,000.00  175,974,114.59      3,446.76     2,416,132.93       0.00       0.00
   A-3       196,500,000.00  186,173,861.16      5,617.43     2,108,319.42       0.00       0.00
   X-1         3,500,000.00    3,316,073.86        100.06        37,552.76       0.00       0.00
   X-2                 0.00            0.00          0.00             0.00       0.00       0.00
   X-B                 0.00            0.00          0.00             0.00       0.00       0.00
   B-1        15,725,000.00   15,725,000.00          0.00             0.00       0.00       0.00
   B-2         9,250,000.00    9,250,000.00          0.00             0.00       0.00       0.00
   B-3         5,550,000.00    5,550,000.00          0.00             0.00       0.00       0.00
   B-4         2,313,000.00    2,313,000.00          0.00             0.00       0.00       0.00
   B-5         2,313,000.00    2,313,000.00          0.00             0.00       0.00       0.00
   B-6         4,166,584.59    4,166,584.59          0.00             0.00       0.00       0.00
   A-R               100.00            0.00          0.00             0.00       0.00       0.00
          -----------------  --------------  ------------  ---------------  ---------  ---------
Totals       925,004,684.59  876,888,646.19     20,905.75    11,171,875.41       0.00       0.00
          -----------------  --------------  ------------  ---------------  ---------  ---------

<CAPTION>
            Total Principal  Ending Certificate    Ending Certificate    Total Principal
 Class         Reduction          Balance              Percentage          Distribution
--------    ---------------  ------------------    -------------------  -----------------
<S>         <C>              <C>                   <C>                  <C>
   A-1         6,621,611.80      465,485,400.19             0.93097080       6,621,611.80
   A-2         2,419,579.69      173,554,534.90             0.93466174       2,419,579.69
   A-3         2,113,936.85      184,059,924.31             0.93669173       2,113,936.85
   X-1            37,652.82        3,278,421.04             0.93669173          37,652.82
   X-2                 0.00                0.00             0.00000000               0.00
   X-B                 0.00                0.00             0.00000000               0.00
   B-1                 0.00       15,725,000.00             1.00000000               0.00
   B-2                 0.00        9,250,000.00             1.00000000               0.00
   B-3                 0.00        5,550,000.00             1.00000000               0.00
   B-4                 0.00        2,313,000.00             1.00000000               0.00
   B-5                 0.00        2,313,000.00             1.00000000               0.00
   B-6                 0.00        4,166,584.59             1.00000000               0.00
   A-R                 0.00                0.00             0.00000000               0.00
            ---------------  ------------------    -------------------  -----------------
Totals        11,192,781.16       85,695,865.03             0.93588268      11,192,781.16
            ---------------  ------------------    -------------------  -----------------\
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                               Beginning        Scheduled     Unscheduled
           Original Face      Certificate       Principal      Principal                  Realized
 Class         Amount           Balance       Distribution    Distribution   Accretion    Loss (3)
--------  ----------------  ---------------  -------------- --------------- ----------- ------------
<S>       <C>               <C>              <C>            <C>             <C>         <C>
  A-1       500,000,000.00     944.21402398      0.02348300     13.21974060  0.00000000   0.00000000
  A-2       185,687,000.00     947.69216256      0.01856220     13.01185829  0.00000000   0.00000000
  A-3       196,500,000.00     947.44967511      0.02858743     10.72936092  0.00000000   0.00000000
  X-1         3,500,000.00     947.44967429      0.02858857     10.72936000  0.00000000   0.00000000
  X-2                 0.00       0.00000000      0.00000000      0.00000000  0.00000000   0.00000000
  X-B                 0.00       0.00000000      0.00000000      0.00000000  0.00000000   0.00000000
  B-1        15,725,000.00    1000.00000000      0.00000000      0.00000000  0.00000000   0.00000000
  B-2         9,250,000.00    1000.00000000      0.00000000      0.00000000  0.00000000   0.00000000
  B-3         5,550,000.00    1000.00000000      0.00000000      0.00000000  0.00000000   0.00000000
  B-4         2,313,000.00    1000.00000000      0.00000000      0.00000000  0.00000000   0.00000000
  B-5         2,313,000.00    1000.00000000      0.00000000      0.00000000  0.00000000   0.00000000
  B-6         4,166,584.59    1000.00000000      0.00000000      0.00000000  0.00000000   0.00000000
  A-R               100.00       0.00000000      0.00000000      0.00000000  0.00000000   0.00000000

<CAPTION>
            Total Principal    Ending Certificate   Ending Certificate     Total Principal
 Class         Reduction            Balance              Percentage         Distribution
--------   -----------------  -------------------  --------------------  ------------------
<S>        <C>                <C>                  <C>                   <C>
  A-1            13.24322360         930.97080038            0.93097080         13.24322360
  A-2            13.03042049         934.66174207            0.93466174         13.03042049
  A-3            10.75794835         936.69172677            0.93669173         10.75794835
  X-1            10.75794857         936.69172571            0.93669173         10.75794857
  X-2             0.00000000           0.00000000            0.00000000          0.00000000
  X-B             0.00000000           0.00000000            0.00000000          0.00000000
  B-1             0.00000000        1000.00000000            1.00000000          0.00000000
  B-2             0.00000000        1000.00000000            1.00000000          0.00000000
  B-3             0.00000000        1000.00000000            1.00000000          0.00000000
  B-4             0.00000000        1000.00000000            1.00000000          0.00000000
  B-5             0.00000000        1000.00000000            1.00000000          0.00000000
  B-6             0.00000000        1000.00000000            1.00000000          0.00000000
  A-R             0.00000000           0.00000000            0.00000000          0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                               Beginning                   Payment of                     Non-
                                              Certificate/    Current        Unpaid       Current      Supported
          Original Face        Current         Notional       Accrued        Interest     Interest      Interest    Realized
Class        Amount        Certificate Rate     Balance       Interest      Shortfall     Shortfall    Shortfall     Loss (4)
------  -----------------  ----------------  -------------- ------------  ------------  ------------  ------------ -----------
<S>     <C>                <C>               <C>            <C>           <C>           <C>           <C>          <C>
  A-1      500,000,000.00           2.88519% 472,107,011.99 1,135,096.84          0.00          0.00          0.00        0.00
  A-2      185,687,000.00           2.19000% 175,974,114.59   321,152.76          0.00          0.00          0.00        0.00
  A-3      196,500,000.00           2.16375% 186,173,861.16   335,694.74          0.00          0.00          0.00        0.00
  X-1        3,500,000.00           2.30625%   3,316,073.86     6,373.08          0.00          0.00          0.00        0.00
  X-2                0.00           0.73149% 365,464,049.61   222,777.76          0.00          0.00          0.00        0.00
  X-B                0.00           0.34489%  24,975,000.00     7,178.06          0.00          0.00          0.00        0.00
  B-1       15,725,000.00           2.41000%  15,725,000.00    31,581.04          0.00          0.00          0.00        0.00
  B-2        9,250,000.00           2.79000%   9,250,000.00    21,506.25          0.00          0.00          0.00        0.00
  B-3        5,550,000.00           2.89563%   5,550,000.00    13,392.30          0.00          0.00          0.00        0.00
  B-4        2,313,000.00           2.89563%   2,313,000.00     5,581.33          0.00          0.00          0.00        0.00
  B-5        2,313,000.00           2.89563%   2,313,000.00     5,581.33          0.00          0.00          0.00        0.00
  B-6        4,166,584.59           2.89563%   4,166,584.59    10,054.08          0.00          0.00          0.00        0.00
  A-R              100.00           0.87878%           0.00         0.00          0.00          0.00          0.00        0.00
        -----------------                                   ------------  ------------  ------------  ------------ -----------
Totals     925,004,684.59                                   2,115,969.57          0.00          0.00          0.00        0.00
        -----------------                                   ------------  ------------  ------------  ------------ -----------

<CAPTION>
                            Remaining        Ending
                              Unpaid      Certificate/
          Total Interest     Interest      Notational
Class      Distribution      Shortfall       Balance
------   ----------------  ------------  ---------------
<S>      <C>               <C>           <C>
  A-1        1,135,096.84          0.00   465,485,400.19
  A-2          321,152.76          0.00   173,554,534.90
  A-3          335,694.74          0.00   184,059,924.31
  X-1            6,373.08          0.00     3,278,421.04
  X-2          222,777.76          0.00   360,892,880.25
  X-B            7,178.06          0.00    24,975,000.00
  B-1           31,581.04          0.00    15,725,000.00
  B-2           21,506.25          0.00     9,250,000.00
  B-3           13,392.30          0.00     5,550,000.00
  B-4            5,581.33          0.00     2,313,000.00
  B-5            5,581.33          0.00     2,313,000.00
  B-6           10,054.08          0.00     4,166,584.59
  A-R                0.23          0.00             0.00
         ----------------  ------------
Totals       2,115,969.80          0.00
         ----------------  ------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                               Payment of                  Non-
                           Current         Beginning                             Unpaid       Current    Supported
Class   Original Face    Certificate      Certificate/     Current Accrued      Interest     Interest    Interest     Realized
 (5)        Amount          Rate        Notional Balance       Interest         Shortfall    Shortfall   Shortfall    Loss (6)
-----  ----------------  -----------   -----------------  ------------------  ------------  ----------  -----------  -----------
<S>    <C>               <C>           <C>                <C>                 <C>           <C>         <C>          <C>
 A-1     500,000,000.00      2.88519%       944.21402398          2.27019368    0.00000000  0.00000000   0.00000000   0.00000000
 A-2     185,687,000.00      1.19000%       947.69216256          1.72953820    0.00000000  0.00000000   0.00000000   0.00000000
 A-3     196,500,000.00      2.16375%       947.44967511          1.70837018    0.00000000  0.00000000   0.00000000   0.00000000
 X-1       3,500,000.00      2.30625%       947.44967429          1.82088000    0.00000000  0.00000000   0.00000000   0.00000000
 X-2               0.00      0.73149%       947.56641943          0.57761283    0.00000000  0.00000000   0.00000000   0.00000000
 X-B               0.00      0.34489%      1000.00000000          0.28740981    0.00000000  0.00000000   0.00000000   0.00000000
 B-1      15,725,000.00      2.41000%      1000.00000000          2.00833323    0.00000000  0.00000000   0.00000000   0.00000000
 B-2       9,250,000.00      2.79000%      1000.00000000          2.32500000    0.00000000  0.00000000   0.00000000   0.00000000
 B-3       5,550,000.00      2.89563%      1000.00000000          2.41302703    0.00000000  0.00000000   0.00000000   0.00000000
 B-4       2,313,000.00      2.89563%      1000.00000000          2.41302637    0.00000000  0.00000000   0.00000000   0.00000000
 B-5       2,313,000.00      2.89563%      1000.00000000          2.41302637    0.00000000  0.00000000   0.00000000   0.00000000
 B-6       4,166,584.59      2.89563%      1000.00000000          2.41302673    0.00000000  0.00000000   0.00000000   0.00000000
 A-R             100.00      2.87878%         0.00000000          0.00000000    0.00000000  0.00000000   0.00000000   0.00000000

<CAPTION>
                         Remaining
                           Unpaid
Class    Total Interest   Interest   Ending Certificate/
 (5)      Distribution    Shortfall   Notational Balance
-----    --------------- ----------  -------------------
<S>      <C>             <C>         <C>
 A-1          2.27019368 0.00000000         930.97080038
 A-2          1.72953820 0.00000000         934.66174207
 A-3          1.70837018 0.00000000         936.69172677
 X-1          1.82088000 0.00000000         936.69172571
 X-2          0.57761283 0.00000000         935.71440119
 X-B          0.28740981 0.00000000        1000.00000000
 B-1          2.00833323 0.00000000        1000.00000000
 B-2          2.32500000 0.00000000        1000.00000000
 B-3          2.41302703 0.00000000        1000.00000000
 B-4          2.41302637 0.00000000        1000.00000000
 B-5          2.41302637 0.00000000        1000.00000000
 B-6          2.41302673 0.00000000        1000.00000000
 A-R          2.30000000 0.00000000           0.00000000
</TABLE>

(5)  Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
           Payments of Interest and Principal                                               13,502,657.17
           Liquidations, Insurance Proceeds, Reserve Funds                                           0.00
           Proceeds from Repurchased Loans                                                           0.00
           Other Amounts (Servicer Advances)                                                   103,316.38
           Realized Losses (Gains, Subsequent Expenses & Recoveries)                                 0.00
           Prepayment Penalties                                                                      0.00
                                                                                            -------------
Total Deposits                                                                              13,605,973.55

Withdrawals
           Reimbursement for Servicer Advances                                                  18,120.97
           Payment of Service Fee                                                              279,101.62
           Payment of Interest and Principal                                                13,308,750.96
                                                                                            -------------
Total Withdrawals (Pool Distribution Amount)                                                13,605,973.55

Ending Balance                                                                                       0.00
                                                                                            =============
</TABLE>

<PAGE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                             <C>
Total Prepayment/Curtailment Interest Shortfall                 0.00
Servicing Fee Support                                           0.00
                                                                ----
Non-Supported Prepayment Curtailment Interest Shortfall         0.00
                                                                ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                       <C>
Gross Servicing Fee                                       274,351.81
Master Servicing Fee                                        4,749.81
Supported Prepayment/Curtailment Interest Shortfall             0.00
                                                          ----------
Net Servicing Fee                                         279,101.62
                                                          ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                    Beginning     Current    Current    Ending
          Account Type               Balance    Withdrawals  Deposits   Balance
---------------------------------   ---------   -----------  --------  ---------
<S>                                 <C>         <C>          <C>       <C>
Class X-A Pool 2 Comp Sub Account    4,500.00      0.00        0.00    4,500.00
Class X-A Pool 3 Comp Sub Account    4,500.00      0.00        0.00    4,500.00
Class X-B Sub Account                1,000.00      0.00        0.00    1,000.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

                                   DELINQUENT

<TABLE>
<CAPTION>
            No. of     Principal
            Loans       Balance
<S>         <C>      <C>
0-29 Days        0            0.00
30 Days        131   41,835,424.02
60 Days          2      412,500.00
90 Days         0.            0.00
120 Days         0            0.00
150 Days         0            0.00
180+ Days        0            0.00
            ------   -------------
               133   42,247,924.02
            ------   -------------
</TABLE>

<TABLE>
<CAPTION>

            No. of   Principal
             Loans    Balance
<S>        <C>       <C>
0-29 Days  0.000000%  0.000000%
30 Days    4.895366%  4.832568%
60 Days    0.074738%  0.047649%
90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%
           --------  ---------
           4.970105%  4.880217%
           --------  ---------
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
           No. of   Principal
           Loans     Balance
<S>        <C>     <C>
0-29 Days    0            0.00
30 Days      0            0.00
60 Days      0            0.00
90 Days      0            0.00
120 Days     0            0.00
150 Days     0            0.00
180+ Days    0            0.00
           ---     -----------
             0            0.00
           ---     -----------
</TABLE>

<TABLE>
<CAPTION>

            No. of   Principal
            Loans     Balance
<S>        <C>       <C>
0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%
           --------  ---------
           0.000000%  0.000000%
           --------  ---------
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
             No. of  Principal
             Loans    Balance
<S>          <C>     <C>
0-29 Days      0           0.00
30 Days        0           0.00
60 Days        0           0.00
90 Days        0           0.00
120 Days       0           0.00
150 Days       0           0.00
180+ Days      0           0.00
             ---     ----------
               0           0.00
             ---     ----------
</TABLE>

<TABLE>
<CAPTION>
            No. of   Principal
            Loans     Balance
<S>        <C>       <C>
0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%
           --------  ---------
           0.000000%  0.000000%
           --------  ---------
</TABLE>

                                       REO

<TABLE>
<CAPTION>
            No. of  Principal
             Loans   Balance
<S>         <C>     <C>
0-29 Days     0           0.00
30 Days       0           0.00
60 Days       0           0.00
90 Days       0           0.00
120 Days      0           0.00
150 Days      0           0.00
180+ Days     0           0.00
            ---     ----------
              0           0.00
            ---     ----------
</TABLE>

<TABLE>
<CAPTION>
            No. of   Principal
            Loans     Balance
<S>        <C>       <C>
0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%
           --------  ---------
           0.000000%  0.000000%
           --------  ---------
</TABLE>

                                     TOTAL

<TABLE>
<CAPTION>
            No. of    Principal
            Loans      Balance
<S>         <C>     <C>
0-29 Days      0             0.00
30 Days      131    41,835,424.02
60 Days        2       412,500.00
90 Days        0.            0.00
120 Days       0             0.00
150 Days       0             0.00
180+ Days      0             0.00
            ----    -------------
             133    42,247,924.02
            ----    -------------
</TABLE>

<TABLE>
<CAPTION>
           No. of   Principal
           Loans     Balance
<S>       <C>       <C>
0-29 Days 0.000000%  0.000000%
30 Days   4.895366%  4.832568%
60 Days   0.074738%  0.047649%
90 Days   0.000000%  0.000000%
120 Days  0.000000%  0.000000%
150 Days  0.000000%  0.000000%
180+ Days 0.000000%  0.000000%
          --------  ---------
          4.970105%  4.880217%
          --------  ---------
</TABLE>

<TABLE>
<S>                                         <C>   <C>                                          <C>  <C>               <C>
Current Period Class A Insufficient Funds:  0.00  Principal Balance of Contaminated Properties 0.00 Periodic Advance  103,316.38
</TABLE>

<TABLE>
<CAPTION>
             Original $       Original%       Current $     Current %   Current Class %  Prepayment %
            -------------    ----------     -------------   ----------  ---------------  ------------
<S>         <C>              <C>            <C>             <C>         <C>              <C>
Class A     39,317,584.59    4.25052816%    39,317,584.59   4.54173182%       95.458268%    0.000000%
Class B-1   23,592,584.59    2.55053677%    23,592,584.59   2.72527403%        1.816458%   39.994827%
Class B-2   14,342,584.59    1.55054183%    14,342,584.59   1.65676945%        1.068505%   23.526369%
Class B-3    8,792,584.59    0.95054487%     8,792,584.59   1.01566670%        0.641103%   14.115821%
Class B-4    6,479,584.59    0.70049208%     6,479,584.59   0.74848279%        0.267184%    5.882864%
Class B-5    4,166,584.59    0.45043930%     4,166,584.59   0.48129889%        0.267184%    5.882864%
Class B-6            0.00    0.00000000%             0.00   0.00000000%        0.481299%   10.597255%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                   DELINQUENT

GROUP ONE

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>           <C>      <C>
0-29 Days       0               0.00
30 Days        80      26,241,648.25
60 Days         2         412,500.00
90 Days         0               0.00
120 Days        0               0.00
150 Days        0               0.00
180+ Days       0               0.00
              ---      -------------
               82      26,654,148.25
</TABLE>

<TABLE>
<CAPTION>
                  No. of       Principal
                  Loans         Balance
<S>             <C>            <C>
0-29 Days       0.000000%       0.000000%
30 Days         5.242464%       5.380907%
60 Days         0.131062%       0.084584%
90 Days         0.000000%       0.000000%
120 Days        0.000000%       0.000000%
150 Days        0.000000%       0.000000%
180+ Days       0.000000%       0.000000%
                --------        --------
                5.373526%       5.465491%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
           No. of  Principal
           Loans    Balance
<S>        <C>     <C>
0-29 Days    0          0.00
30 Days      0          0.00
60 Days      0          0.00
90 Days      0          0.00
120 Days     0          0.00
150 Days     0          0.00
180+ Days    0          0.00
          ----     ---------
             0          0.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of       Principal
                 Loans         Balance
<S>            <C>            <C>
0-29 Days      0.000000%      0.000000%
30 Days        0.000000%      0.000000%
60 Days        0.000000%      0.000000%
90 Days        0.000000%      0.000000%
120 Days       0.000000%      0.000000%
150 Days       0.000000%      0.000000%
180+ Days      0.000000%      0.000000%
               --------       --------
               0.000000%      0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
           No. of   Principal
           Loans     Balance
<S>        <C>      <C>
0-29 Days     0            0.00
30 Days       0            0.00
60 Days       0            0.00
90 Days       0            0.00
120 Days      0            0.00
150 Days      0            0.00
180+ Days     0            0.00
           ----     -----------
              0            0.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of      Principal
                 Loans        Balance
<S>            <C>           <C>
0-29 Days      0.000000%     0.000000%
30 Days        0.000000%     0.000000%
60 Days        0.000000%     0.000000%
90 Days        0.000000%     0.000000%
120 Days       0.000000%     0.000000%
150 Days       0.000000%     0.000000%
180+ Days      0.000000%     0.000000%
               --------      --------
               0.000000%     0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
           No. of   Principal
            Loans    Balance
<S>       <C>       <C>
0-29 Days    0            0.00
30 Days      0            0.00
60 Days      0            0.00
90 Days      0            0.00
120 Days     0            0.00
150 Days     0            0.00
180+ Days    0            0.00
          ----      ----------
             0            0.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of      Principal
                 Loans         Balance
<S>            <C>           <C>
0-29 Days      0.000000%     0.000000%
30 Days        0.000000%     0.000000%
60 Days        0.000000%     0.000000%
90 Days        0.000000%     0.000000%
120 Days       0.000000%     0.000000%
150 Days       0.000000%     0.000000%
180+ Days      0.000000%     0.000000%
               --------      --------
               0.000000%     0.000000%
</TABLE>

                                      TOTAL

<TABLE>
<CAPTION>
            No. of    Principal
            Loans      Balance
<S>         <C>      <C>
0-29 Days     0               0.00
30 Days      80      26,241,648.25
60 Days       2         412,500.00
90 Days       0               0.00
120 Days      0               0.00
150 Days      0               0.00
180+ Days     0               0.00
            ---      -------------
             82      26,654,148.25
</TABLE>

<TABLE>
<CAPTION>
                  No. of        Principal
                  Loans          Balance
<S>             <C>             <C>
0-29 Days       0.000000%       0.000000%
30 Days         5.242464$       5.380907%
60 Days         0.131062%       0.084584%
90 Days         0.000000%       0.000000%
120 Days        0.000000%       0.000000%
150 Days        0.000000%       0.000000%
180+ Days       0.000000%       0.000000%
                --------        --------
                5.373526%       5.465491%
</TABLE>

                                   DELINQUENT

GROUP TWO

<TABLE>
<CAPTION>
                   No. of        Principal
                    Loans         Balance
<S>                <C>           <C>
0-29 Days             0                  0.00
30 Days              14          4,257,032.27
60 Days               0                  0.00
90 Days               0                  0.00
120 Days              0                  0.00
150 Days              0                  0.00
180+ Days             0                  0.00
                   ----          ------------
                     14          4,257,032.27
</TABLE>

<TABLE>
<CAPTION>
                   No. of       Principal
                    Loans        Balance
<S>               <C>           <C>
0-29 Days         0.000000%      0.000000%
30 Days           2.702703%      2.341601%
60 Days           0.000000%      0.000000%
90 Days           0.000000%      0.000000%
120 Days          0.000000%      0.000000%
150 Days          0.000000%      0.000000%
180+ Days         0.000000%      0.000000%
                  --------      ---------
                  2.702703%      2.341601%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
             1.183654%
                 No. of      Principal
                 Loans        Balance
<S>          <C>             <C>
0-29 Days          0                0.00
30 Days            0                0.00
60 Days            0                0.00
90 Days            0                0.00
120 Days           0                0.00
150 Days           0                0.00
180+ Days          0                0.00
             -------         -----------
                   0                0.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of     Principal
                 Loans        Balance
<S>            <C>          <C>
0-29 Days      0.000000%     0.000000%
30 Days        0.000000%     0.000000%
60 Days        0.000000%     0.000000%
90 Days        0.000000%     0.000000%
120 Days       0.000000%     0.000000%
150 Days       0.000000%     0.000000%
180+ Days      0.000000%     0.000000%
               --------      --------
               0.000000%     0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
                 No. of      Principal
                 Loans        Balance
<S>              <C>         <C>
0-29 Days          0                0.00
30 Days            0                0.00
60 Days            0                0.00
90 Days            0                0.00
120 Days           0                0.00
150 Days           0                0.00
180+ Days          0                0.00
                 ---         -----------
                   0                0.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of     Principal
                 Loans       Balance
<S>            <C>          <C>
0-29 Days      0.000000%     0.000000%
30 Days        0.000000%     0.000000%
60 Days        0.000000%     0.000000%
90 Days        0.000000%     0.000000%
120 Days       0.000000%     0.000000%
150 Days       0.000000%     0.000000%
180+ Days      0.000000%     0.000000%
               --------     ---------
               0.000000%     0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
                 No. of       Principal
                  Loans        Balance
<S>              <C>          <C>
0-29 Days           0                0.00
30 Days             0                0.00
60 Days             0                0.00
90 Days             0                0.00
120 Days            0                0.00
150 Days            0                0.00
180+ Days           0                0.00
                 ----         -----------
                    0                0.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of      Principal
                  Loans       Balance
<S>             <C>          <C>
0-29 Days       0.000000%     0.000000%
30 Days         0.000000%     0.000000%
60 Days         0.000000%     0.000000%
90 Days         0.000000%     0.000000%
120 Days        0.000000%     0.000000%
150 Days        0.000000%     0.000000%
180+ Days       0.000000%     0.000000%
                --------     ---------
                0.000000%     0.000000%
</TABLE>

                                     TOTAL

<TABLE>
<CAPTION>
                 No. of       Principal
                 Loans         Balance
<S>              <C>          <C>
0-29 Days          0                  0.00
30 Days           14          4,257,032.27
60 Days            0                  0.00
90 Days            0                  0.00
120 Days           0                  0.00
150 Days           0                  0.00
180+ Days          0                  0.00
                ----          ------------
                  14          4,257,032.27
</TABLE>

<TABLE>
<CAPTION>
                 No. of      Principal
                 Loans        Balance
<S>            <C>           <C>
0-29 Days      0.000000%      0.000000%
30 Days        2.702703%      2.341601%
60 Days        0.000000%      0.000000%
90 Days        0.000000%      0.000000%
120 Days       0.000000%      0.000000%
150 Days       0.000000%      0.000000%
180+ Days      0.000000%      0.000000%
               --------      ---------
               2.702703%      2.341601%
</TABLE>

<PAGE>

                                   DELINQUENT

GROUP THREE

<TABLE>
<CAPTION>
                   No. of        Principal
                    Loans         Balance
<S>                <C>          <C>
0-29 Days             0                  0.00
30 Days              37         11,336,743.50
60 Days               0                  0.00
90 Days               0                  0.00
120 Days              0                  0.00
150 Days              0                  0.00
180+ Days             0                  0.00
                   ----         -------------
                     37         11,336,743.50
</TABLE>

<TABLE>
<CAPTION>
                   No. of       Principal
                    Loans        Balance
<S>               <C>           <C>
0-29 Days         0.000000%      0.000000%
30 Days           5.854430%      5.777662%
60 Days           0.000000%      0.000000%
90 Days           0.000000%      0.000000%
120 Days          0.000000%      0.000000%
150 Days          0.000000%      0.000000%
180+ Days         0.000000%      0.000000%
                  --------       --------
                  5.854430%      5.777662%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
               1.183654%
                 No. of        Principal
                 Loans           Balance
<S>            <C>             <C>
0-29 Days          0                0.00
30 Days            0                0.00
60 Days            0                0.00
90 Days            0                0.00
120 Days           0                0.00
150 Days           0                0.00
180+ Days          0                0.00
               -----           ---------
                   0                0.00
</TABLE>

<TABLE>
<CAPTION>

                 No. of     Principal
                 Loans       Balance
<S>            <C>          <C>
0-29 Days      0.000000%     0.000000%
30 Days        0.000000%     0.000000%
60 Days        0.000000%     0.000000%
90 Days        0.000000%     0.000000%
120 Days       0.000000%     0.000000%
150 Days       0.000000%     0.000000%
180+ Days      0.000000%     0.000000%
               --------      --------
               0.000000%     0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
                 No. of        Principal
                 Loans           Balance
<S>              <C>           <C>
0-29 Days          0                0.00
30 Days            0                0.00
60 Days            0                0.00
90 Days            0                0.00
120 Days           0                0.00
150 Days           0                0.00
180+ Days          0                0.00
                 ---           ---------
                   0                0.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of     Principal
                 Loans       Balance
<S>            <C>          <C>
0-29 Days      0.000000%     0.000000%
30 Days        0.000000%     0.000000%
60 Days        0.000000%     0.000000%
90 Days        0.000000%     0.000000%
120 Days       0.000000%     0.000000%
150 Days       0.000000%     0.000000%
180+ Days      0.000000%     0.000000%
               --------      --------
               0.000000%     0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
                 No. of         Principal
                  Loans           Balance
<S>              <C>            <C>
0-29 Days           0                0.00
30 Days             0                0.00
60 Days             0                0.00
90 Days             0                0.00
120 Days            0                0.00
150 Days            0                0.00
180+ Days           0                0.00
                 ----           ---------
                    0                0.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of      Principal
                  Loans       Balance
<S>             <C>          <C>
0-29 Days       0.000000%     0.000000%
30 Days         0.000000%     0.000000%
60 Days         0.000000%     0.000000%
90 Days         0.000000%     0.000000%
120 Days        0.000000%     0.000000%
150 Days        0.000000%     0.000000%
180+ Days       0.000000%     0.000000%
                --------      --------
                0.000000%     0.000000%
</TABLE>

                                      TOTAL

<TABLE>
<CAPTION>
                 No. of          Principal
                 Loans            Balance
<S>              <C>           <C>
0-29 Days          0                    0.00
30 Days           37           11,336,743.50
60 Days            0                    0.00
90 Days            0                    0.00
120 Days           0                    0.00
150 Days           0                    0.00
180+ Days          0                    0.00
                 ---           -------------
                  37           11,336,743.50
</TABLE>

<TABLE>
<CAPTION>
                 No. of       Principal
                 Loans          Balance
<S>            <C>            <C>
0-29 Days      0.000000%       0.000000%
30 Days        5.854430%       5.777662%
60 Days        0.000000%       0.000000%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------        --------
               5.854430%       5.777662%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
             Collateral Description                                               Mixed Arm
<S>                                                                             <C>
Weighted Average Gross Coupon                                                         3.278034%
Weighted Average Net Coupon                                                           2.902590%
Weighted Average Pass-Through Rate                                                    2.895579%
Weighted Average Maturity (Stepdown Calculation)                                           340

Beginning Scheduled Collateral Loan Count                                                2,703
Number of Loans Paid in Full                                                                27
Ending Scheduled Collateral Loan Count                                                   2,676

Beginning Scheduled Collateral Balance                                          876,888,646.19
Ending Scheduled Collateral Balance                                             865,695,865.03
Ending Actual Collateral Balance at 29-Oct-2004                                 865,697,610.63

Monthly P&I Constant                                                              2,416,297.50
Special Servicing Fee                                                                     0.00
Prepayment Penalties                                                                      0.00
Realization Loss Amount                                                                   0.00
Cumulative Realized Loss                                                                  0.00

Class A Optimal Amount                                                           13,213,876.34

Scheduled Principal                                                                  20,905.29
Unscheduled Principal                                                            11,171,875.87
</TABLE>

MISCELLANEOUS REPORTING

Rapid Prepayment Condition?                     NO

<PAGE>

<TABLE>
<CAPTION>
            GROUP                     GROUP ONE        GROUP TWO        GROUP THREE         TOTAL
<S>                               <C>                <C>             <C>                <C>
Collateral Description            6 Month LIBOR ARM       Mixed ARM  6 Month LIBOR ARM       Mixed ARM
Weighted Average Coupon Rate               3.267397        3.316292           3.269008        3.278034
Weighted Average Net Rate                  2.892092        2.940982           2.893098        2.902590
Pass-Through Rate                          2.885057        2.933482           2.886598        2.895579
Weighted Average Maturity                       341             336                341             340
Record Date                              10/29/2004      10/29/2004         10/29/2004      10/29/2004
Principal and Interest Constant        1,357,640.11      512,550.88         546,106.51    2,416,297.50
Beginning Loan Count                          1,544             522                637           2,703
Loans Paid in Full                               18               4                  5              27
Ending Loan Count                             1,526             518                632           2,676
Beginning Scheduled Balance          494,301,167.81  184,219,427.23     198,368,051.15  876,888,646.19
Ending Scheduled Balance             487,679,556.01  181,799,847.54     196,216,461.48  865,695,865.03
Scheduled Principal                       11,741.50        3,446.30           5,717.49       20,905.29
Unscheduled Principal                  6,609,870.30    2,416,133.39       2,145,872.18   11,171,875.87
Scheduled Interest                     1,345,898.61      509,104.58         540,389.02    2,395,392.21
Servicing Fee                            154,595.06       57,616.29          62,140.46      274,351.81
Master Servicing Fee                       2,677.46          997.86           1,074.49        4,749.81
Trustee Fee                                    0.00            0.00               0.00            0.00
FRY Amount                                     0.00            0.00               0.00            0.00
Special Hazard Fee                             0.00            0.00               0.00            0.00
Other Fee                                    220.43          153.53               0.00          373.96
Pool Insurance Fee                             0.00            0.00               0.00            0.00
Spread 1                                       0.00            0.00               0.00            0.00
Spread 2                                       0.00            0.00               0.00            0.00
Spread 3                                       0.00            0.00               0.00            0.00
Net Interest                           1,188,405.66      450,336.90         477,174.07    2,115,916.63
Realized Loss Amount                           0.00            0.00               0.00            0.00
Cumulative Realized Loss                       0.00            0.00               0.00            0.00
Percentage of Cumulative Losses                0.00            0.00               0.00            0.00
Prepayment Penalties                           0.00            0.00               0.00            0.00
Special Servicing Fee                          0.00            0.00               0.00            0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                      <C>
Group One
Pro-Rata Senior Percent                   95.509993%
Senior Percent                           100.000000%
Senior Prepay Percent                    100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepay Percent                 0.000000%
Interest Transfer Amount                       0.00
Principal Transfer Amount                      0.00

Group Two
Pro-Rata Senior Percent                   95.524189%
Senior Percent                           100.000000%
Senior Prepay Percent                    100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepay Percent                 0.000000%
Interest Transfer Amount                       0.00
Principal Transfer Amount                      0.00

Group Three
Pro-Rata Senior Percent                   95.524422%
Senior Percent                           100.000000%
Senior Prepay Percent                    100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepay Percent                 0.000000%
Interest Transfer Amount                       0.00
Principal Transfer Amount                      0.00
</TABLE><PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2004-8
                          RECORD DATE: OCTOBER 29, 2004
                      DISTRIBUTION DATE: NOVEMBER 22, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                 Certificate Certificate
                     Class   Pass-Through      Beginning        Interest
Class    CUSIP   Description     Rate     Certificate Balance  Distribution
-----  --------- ----------- ------------ ------------------- -------------
<S>    <C>       <C>         <C>          <C>                 <C>
 A-1   81744FDJ3     SEN       2.26000%      353,986.674.62     666,674.90
 A-2   81744FDK0     SEN       2.35000%      411,059,775.91     804,992.06
 X-A   81744FDL8      IO       0.71574%                0.00     456,313.31
 X-B   81744FDM6      IO       0.46705%                0.00       9,574.59
 B-1   81744FDP9     SUB       2.43000%       16,400,000.00      33,210.00
 B-2   81744FDQ7     SUB       2.81000%        8,200,000.00      19,201.67
 B-3   81744FDR5     SUB       3.02372%        4,100,000.00      10,331.04
 B-4   81744FDS3     SUB       3.02372%        2,460,000.00       6,198.63
 B-5   81744FDT1     SUB       3.02372%        2,050,000.00       5,165.52
 B-6   81744FDU8     SUB       3.02372%        3,690,645.34       9,299.56
 A-R   81744FDN4     SEN       2.97736%                0.00           1.09
                                             --------------   ------------
Totals                                       801,947,095.87   2,020,962.37

<CAPTION>
         Principal     Current    Ending Certificate    Total      Cumulative
Class  Distribution Realized Loss       Balance      Distribution Realized Loss
-----  ------------ ------------- ------------------ ------------ -------------
<S>    <C>          <C>           <C>                <C>          <C>
 A-1   1,531,769.04     0.00        352,454,905.58   2,198,443.94     0.00
 A-2   4,307,279.48     0.00        406,752,496.43   5,112,271.54     0.00
 X-A           0.00     0.00                  0.00     456,313.31     0.00
 X-B           0.00     0.00                  0.00       9,574.59     0.00
 B-1           0.00     0.00         16,400,000.00      33,210.00     0.00
 B-2           0.00     0.00          8,200,000.00      19,201.67     0.00
 B-3           0.00     0.00          4,100,000.00      10,331.04     0.00
 B-4           0.00     0.00          2,460,000.00       6,198.63     0.00
 B-5           0.00     0.00          2,050,000.00       5,165.52     0.00
 B-6           0.00     0.00          3,690,645.34       9,299.56     0.00
 A-R           0.00     0.00                  0.00           1.09     0.00
       ------------     ----        --------------   ------------     ----
Totals 5,839,048.52     0.00        796,108,047.35   7,860,010.89     0.00
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                           Beginning     Scheduled  Unscheduled
        Original Face     Certificate    Principal   Principal                     Realized
Class      Amount           Balance    Distribution Distribution     Accretion     Loss (1)
-----   --------------  -------------- ------------ ------------     ---------     --------
<S>     <C>             <C>            <C>          <C>              <C>           <C>
 A-1    365,049,000.00  353,986,674.62      0.00    1,531,769.04        0.00         0.00
 A-2    418,050,000.00  411,059,775.91    223.95    4,307,055.53        0.00         0.00
 X-A              0.00            0.00      0.00            0.00        0.00         0.00
 X-B              0.00            0.00      0.00            0.00        0.00         0.00
 B-1     16,400,000.00   16,400,000.00      0.00            0.00        0.00         0.00
 B-2      8,200,000.00    8,200,000.00      0.00            0.00        0.00         0.00
 B-3      4,100,000.00    4,100,000.00      0.00            0.00        0.00         0.00
 B-4      2,460,000.00    2,460,000.00      0.00            0.00        0.00         0.00
 B-5      2,050,000.00    2,050,000.00      0.00            0.00        0.00         0.00
 B-6      3,690,645.34    3,690,645.34      0.00            0.00        0.00         0.00
 A-R            100.00            0.00      0.00            0.00        0.00         0.00
        --------------  --------------    ------    ------------        ----         ----
Totals  819,999,745.34  801,947,095.87    223.95    5,838,824.57        0.00         0.00

<CAPTION>
       Total Principal  Ending Certificate    Ending Certificate  Total Principal
Class     Reduction           Balance             Percentage        Distribution
-----  ---------------  ------------------    ------------------  ---------------
<S>    <C>              <C>                   <C>                 <C>
 A-1    1,531,769.04      352,454,905.58          0.96550026       1,531,769.04
 A-2    4,307,279.48      406,752,496.43          0.97297571       4,307,279.48
 X-A            0.00                0.00          0.00000000               0.00
 X-B            0.00                0.00          0.00000000               0.00
 B-1            0.00       16,400,000.00          1.00000000               0.00
 B-2            0.00        8,200,000.00          1.00000000               0.00
 B-3            0.00        4,100,000.00          1.00000000               0.00
 B-4            0.00        2,460,000.00          1.00000000               0.00
 B-5            0.00        2,050,000.00          1.00000000               0.00
 B-6            0.00        3,690,645.34          1.00000000               0.00
 A-R            0.00                0.00          0.00000000               0.00
        ------------      --------------          ----------       ------------
Totals  5,839,048.52      796,108,047.35          0.97086377       5,839,048.52
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                Beginning       Scheduled      Unscheduled
            Original Face      Certificate      Principal       Principal                     Realized
Class           Amount           Balance      Distribution     Distribution   Accretion       Loss (3)
-----      --------------     -------------   ------------     ------------   ---------      ----------
<S>        <C>                <C>             <C>              <C>            <C>            <C>
 A-1       365,049,000.00      969.69632740    0.00000000       4.19606420    0.00000000     0.00000000
 A-2       418,050,000.00      983.27897598    0.00053570      10.30272821    0.00000000     0.00000000
 X-A                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 X-B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-1        16,400,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-2         8,200,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-3         4,100,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-4         2,460,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-5         2,050,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-6         3,690,645.34     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 A-R               100.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000

<CAPTION>
           Total Principal   Ending Certificate   Ending Certificate  Total Principal
Class         Reduction            Balance            Percentage        Distribution
-----      ---------------   ------------------   ------------------  ---------------
<S>        <C>               <C>                  <C>                 <C>
 A-1          4.19606420        965.50026320          0.96550026         4.19606420
 A-2         10.30326392        972.97571207          0.97297571        10.30326392
 X-A          0.00000000          0.00000000          0.00000000         0.00000000
 X-B          0.00000000          0.00000000          0.00000000         0.00000000
 B-1          0.00000000       1000.00000000          1.00000000         0.00000000
 B-2          0.00000000       1000.00000000          1.00000000         0.00000000
 B-3          0.00000000       1000.00000000          1.00000000         0.00000000
 B-4          0.00000000       1000.00000000          1.00000000         0.00000000
 B-5          0.00000000       1000.00000000          1.00000000         0.00000000
 B-6          0.00000000       1000.00000000          1.00000000         0.00000000
 A-R          0.00000000          0.00000000          0.00000000         0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                  Beginning                     Payment of                     Non-
                                                Certificate/       Current        Unpaid       Current      Supported
              Original Face         Current        Notional        Accrued       Interest      Interest     Interest     Realized
Class            Amount        Certificate Rate    Balance         Interest      Shortfall     Shortfall    Shortfall    Loss (4)
-----        --------------    ---------------- --------------   ------------   ----------     ---------    ---------    --------
<S>          <C>               <C>              <C>              <C>            <C>            <C>          <C>          <C>
 A-1         365,049,000.00         2.26000%    353,986,674.62     666,674.90      0.00          0.00         0.00         0.00
 A-2         418,050,000.00         2.35000%    411,059,775.91     804,992.06      0.00          0.00         0.00         0.00
 X-A                   0.00         0.71574%    765,046,450.53     456,313.31      0.00          0.00         0.00         0.00
 X-B                   0.00         0.46705%     24,600,000.00       9,574.59      0.00          0.00         0.00         0.00
 B-1          16,400,000.00         2.43000%     16,400,000.00      33,210.00      0.00          0.00         0.00         0.00
 B-2           8,200,000.00         2.81000%      8,200,000.00      19,201.67      0.00          0.00         0.00         0.00
 B-3           4,100,000.00         3.02372%      4,100,000.00      10,331.04      0.00          0.00         0.00         0.00
 B-4           2,460,000.00         3.02372%      2,460,000.00       6,198.63      0.00          0.00         0.00         0.00
 B-5           2,050,000.00         3.02372%      2,050,000.00       5,165.52      0.00          0.00         0.00         0.00
 B-6           3,690,645.34         3.02372%      3,690,645.34       9,299.56      0.00          0.00         0.00         0.00
 A-R                 100.00         2.97736%              0.00           0.00      0.00          0.00         0.00         0.00
             --------------                                      ------------      ----          ----         ----         ----
Totals       819,999,745.34                                      2,020,961.28      0.00          0.00         0.00         0.00

<CAPTION>
                             Remaining       Ending
                              Unpaid       Certificate/
         Total Interest      Interest      Notational
Class     Distribution       Shortfall       Balance
-----    --------------      ---------   --------------
<S>      <C>                 <C>         <C>
 A-1        665,674.90          0.00     352,454,905.58
 A-2        804,992.06          0.00     406,752,496.43
 X-A        456,313.31          0.00     759,207,402.01
 X-B          9,574.59          0.00      24,600,000.00
 B-1         33,210.00          0.00      16,400,000.00
 B-2         19,201.67          0.00       8,200,000.00
 B-3         10,331.04          0.00       4,100,000.00
 B-4          6,198.63          0.00       2,460,000.00
 B-5          5,165.52          0.00       2,050,000.00
 B-6          9,299.56          0.00       3,690,645.34
 A-R              1.09          0.00               0.00
          ------------          ----
Totals    2,020,962.37          0.00
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                Payment of                    Non-
                                Current       Beginning                           Unpaid      Current      Supported
Class         Original Face  Certificate     Certificate/     Current Accrued    Interest    Interest      Interest        Realized
 (5)              Amount         Rate      Notional Balance       Interest      Shortfall    Shortfall     Shortfall       Loss (6)
-----        --------------  -----------   ----------------   ---------------   ----------   ----------    ----------     ----------
<S>          <C>             <C>           <C>                <C>               <C>          <C>           <C>            <C>
 A-1         365,049,000.00    2.26000%      969.69632740        1.82626141     0.00000000   0.00000000    0.00000000     0.00000000
 A-2         418,050,000.00    2.35000%      983.27897598        1.92558799     0.00000000   0.00000000    0.00000000     0.00000000
 X-A                   0.00    0.71574%      976.94729597        0.58270194     0.00000000   0.00000000    0.00000000     0.00000000
 X-B                   0.00    0.46705%     1000.00000000        0.38921098     0.00000000   0.00000000    0.00000000     0.00000000
 B-1          16,400,000.00    2.43000%     1000.00000000        2.02500000     0.00000000   0.00000000    0.00000000     0.00000000
 B-2           8,200,000.00    2.81000%     1000.00000000        2.34166707     0.00000000   0.00000000    0.00000000     0.00000000
 B-3           4,100,000.00    3.02372%     1000.00000000        2.51976585     0.00000000   0.00000000    0.00000000     0.00000000
 B-4           2,460,000.00    3.02372%     1000.00000000        2.51976829     0.00000000   0.00000000    0.00000000     0.00000000
 B-5           2,050,000.00    3.02372%     1000.00000000        2.51976585     0.00000000   0.00000000    0.00000000     0.00000000
 B-6           3,690,645.34    3.02372%     1000.00000000        2.51976528     0.00000000   0.00000000    0.00000000     0.00000000
 A-R                 100.00    2.97736%        0.00000000        0.00000000     0.00000000   0.00000000    0.00000000     0.00000000

<CAPTION>
                              Remaining
                               Unpaid
Class        Total Interest    Interest       Ending Certificate/
 (5)          Distribution     Shortfall      Notational Balance
-----        --------------   ----------      -------------------
<S>          <C>              <C>             <C>
 A-1           1.82626141     0.00000000         965.50026320
 A-2           1.92558799     0.00000000         972.97571207
 X-A           0.58270194     0.00000000         969.49096093
 X-B           0.38921098     0.00000000        1000.00000000
 B-1           2.02500000     0.00000000        1000.00000000
 B-2           2.34166707     0.00000000        1000.00000000
 B-3           2.51976585     0.00000000        1000.00000000
 B-4           2.51976829     0.00000000        1000.00000000
 B-5           2.51976585     0.00000000        1000.00000000
 B-6           2.51976528     0.00000000        1000.00000000
 A-R          10.90000000     0.00000000           0.00000000
</TABLE>

(5) Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                                   7,978,390.38
         Liquidations, Insurance Proceeds, Reserve Funds                              0.00
         Proceeds from Repurchased Loans                                              0.00
         Other Amounts (Servicer Advances)                                      139,719.78
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                    0.00
         Prepayment Penalties                                                         0.00
                                                                              ------------
Total Deposits                                                                8,118,110.16

Withdrawals
         Reimbursement for Servicer Advances                                      1,581.18
         Payment of Service Fee                                                 256,518.19
         Payment of Interest and Principal                                    7,860,010.89
                                                                              ------------
Total Withdrawals (Pool Distribution Amount)                                  8,118,110.16

Ending Balance                                                                        0.00
                                                                              ============
</TABLE>

<PAGE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                                         <C>
Total Prepayment/Curtailment Interest Shortfall                             0.00
Servicing Fee Support                                                       0.00
                                                                            ----
Non-Supported Prepayment Curtailment Interest Shortfall                     0.00
                                                                            ====

</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                    <C>
Gross Servicing Fee                                                    251,506.02
Master Servicing Fee                                                     5,012.17
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------
Net Servicing Fee                                                      256,518.19
                                                                       ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                            Beginning          Current          Current       Ending
           Account Type                      Balance         Withdrawals       Deposits       Balance
---------------------------------           ---------        -----------       --------       -------
<S>                                         <C>              <C>               <C>           <C>
Class X-A Pool 1 Comp Sub Account           4,500.00            0.00             0.00        4,500.00
Class X-A Pool 2 Comp Sub Account           4,500.00            0.00             0.00        4,500.00
Class X-B Sub Account                       1,000.00            0.00             0.00        1,000.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
            DELINQUENT                            BANKRUPTCY                         FORECLOSURE
------------------------------------  --------------------------------   ---------------------------------
            No. of       Principal                 No. of    Principal                 No. of    Principal
             Loans        Balance                  Loans      Balance                  Loans      Balance
<S>        <C>         <C>            <C>        <C>         <C>         <C>         <C>         <C>
0-29 Days      0                0.00  0-29 Days      0          0.00     0-29 Days       0          0.00
30 Days      160       50,271,819.51  30 Days        0          0.00     30 Days         0          0.00
60 Days        3        2,821,615.50  60 Days        0          0.00     60 Days         0          0.00
90 Days        1          406,000.00  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
             ---       -------------                --          ----                    --          ----
             164       53,499,435.01                 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    7.095344%     6.314666%    30 Days    0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days    0.133038%     0.354424%    60 Days    0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days    0.044346%     0.050998%    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%
           --------      --------                --------    --------                --------    --------
           7.272727%     6.720089%               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       160       50,271,819.51
60 Days          0          0.00     60 Days         3        2,821,615.50
90 Days          0          0.00     90 Days         1          406,000.00
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                   164       53,499,435.01

              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     7.095344%     6.314666%
60 Days      0.000000%   0.000000%   60 Days     0.133038%     0.354424%
90 Days      0.000000%   0.000000%   90 Days     0.044346%     0.050998%
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%               7.272727%     6.720089%
</TABLE>

<TABLE>
<S>                                         <C>    <C>                                           <C>   <C>               <C>
Current Period Class A Insufficient Funds:  0.00   Principal Balance of Contaminated Properties  0.00  Periodic Advance  139,719.78
</TABLE>

<TABLE>
<CAPTION>
            Original $      Original%     Current $      Current %   Current Class %  Prepayment %
           -------------   -----------  -------------   -----------  ---------------  ------------
<S>        <C>             <C>          <C>             <C>          <C>              <C>
Class A    36,900,645.34   4.50008061%  36,900,645.34   4.63513030%     95.364870%      0.000000%
Class B-1  20,500,645.34   2.50007976%  20,500,645.34   2.57510842%      2.060022%     44.443667%
Class B-2  12,300,645.34   1.50007934%  12,300,645.34   1.54509748%      1.030011%     22.221834%
Class B-3   8,200,645.34   1.00007912%   8,200,645.34   1.03009200%      0.515005%     11.110917%
Class B-4   5,740,645.34   0.70007900%   5,740,645.34   0.72108872%      0.309003%      6.666550%
Class B-5   3,690,645.34   0.45007889%   3,690,645.34   0.46358599%      0.257503%      5.555458%
Class B-6           0.00   0.00000000%           0.00   0.00000000%      0.463586%     10.001574%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
              DELINQUENT                         BANKRUPTCY                         FORECLOSURE
-----------------------------------  --------------------------------   ---------------------------------
POOL ONE

             No. of     Principal                 No. of    Principal                 No. of    Principal
             Loans       Balance                  Loans      Balance                  Loans      Balance
<S>        <C>        <C>            <C>        <C>         <C>         <C>         <C>         <C>
0-29 Days      0               0.00  0-29 Days      0          0.00     0-29 Days       0          0.00
30 Days       75      26,186,826.56  30 Days        0          0.00     30 Days         0          0.00
60 Days        1         786,915.51  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
              --      -------------                --          ----                    --          ----
              76      26,973,742.07                 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    7.338522%    7.084091%    30 Days    0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days    0.097847%    0.212877%    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%
           --------     --------                --------    --------                --------    --------
           7.436399%    7.296989%               0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                 REO                                  TOTAL
----------------------------------   -------------------------------------
              No. of     Principal                 No. of      Principal
               Loans      Balance                  Loans        Balance
<S>          <C>         <C>         <C>         <C>         <C>
0-29 Days        0          0.00     0-29 Days       0                0.00
30 Days          0          0.00     30 Days        75       26,186,826.56
60 Days          0          0.00     60 Days         1          786,915.51
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                    76       26,973,742.07

              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     7.338522%     7.084091%
60 Days      0.000000%   0.000000%   60 Days     0.097847%     0.212877%
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%               7.436399%     7.296989%

<CAPTION>
              DELINQUENT                          BANKRUPTCY                         FORECLOSURE
-----------------------------------  --------------------------------   ---------------------------------
POOL TWO                                        1.183654%

            No. of      Principal                 No. of    Principal                 No. of    Principal
             Loans       Balance                  Loans      Balance                  Loans      Balance
<S>        <C>        <C>            <C>        <C>         <C>         <C>         <C>         <C>
0-29 Days      0               0.00  0-29 Days      0          0.00     0-29 Days       0          0.00
30 Days       85      24,084,992.95  30 Days        0          0.00     30 Days         0          0.00
60 Days        2       2,034,699.99  60 Days        0          0.00     60 Days         0          0.00
90 Days        1         406,000.00  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
              --      -------------                --          ----                    --          ----
              88      26,525,692.94                 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    6.893755%    5.647719%    30 Days    0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days    1.062206%    0.477119%    60 Days    0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days    0.081103%    0.095203%    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%
           --------     --------                --------    --------                --------    --------
           7.137064%    6.220042%               0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                 REO                                  TOTAL
----------------------------------   -------------------------------------
              No. of     Principal                 No. of      Principal
              Loans       Balance                  Loans        Balance
<S>          <C>         <C>         <C>         <C>         <C>
0-29 Days        0          0.00     0-29 Days       0                0.00
30 Days          0          0.00     30 Days        85       24,084,992.95
60 Days          0          0.00     60 Days         2        2,034,699.99
90 Days          0          0.00     90 Days         1          406,000.00
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                    88       26,525,692.94

              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     6.893755%     5.647719%
60 Days      0.000000%   0.000000%   60 Days     1.062206%     0.477119%
90 Days      0.000000%   0.000000%   90 Days     0.081103%     0.095203%
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%               7.137064%     6.220042%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                              Mixed Arm
<S>                                                                              <C>
Weighted Average Gross Coupon                                                          3.407925%
Weighted Average Net Coupon                                                            3.031582%
Weighted Average Pass-Through Rate                                                     3.024082%
Weighted Average Maturity (Stepdown Calculation)                                            339

Beginning Scheduled Collateral Loan Count                                                 2,264
Number of Loans Paid in Full                                                                  9
Ending Scheduled Collateral Loan Count                                                    2,255

Beginning Scheduled Collateral Balance                                           801,947,095.87
Ending Scheduled Collateral Balance                                              796,108,047.35
Ending Actual Collateral Balance at 29-Oct-2004                                  796,112,041.71

Monthly P&I Constant                                                               2,277,703.88
Special Servicing Fee                                                                      0.00
Prepayment Penalties                                                                       0.00
Realization Loss Amount                                                                    0.00
Cumulative Realized Loss                                                                   0.00

Class A Optimal Amount                                                             7,767,028.80

Scheduled Principal                                                                      223.95
Unscheduled Principal                                                              5,838,824.57
</TABLE>

MISCELLANEOUS REPORTING

Rapid Prepay Condition?                   NO

<PAGE>

<TABLE>
<CAPTION>
           GROUP                                      POOL 1                 POOL 2                     TOTAL
           -----                                      ------                 ------                     -----
<S>                                               <C>                   <C>                          <C>
Collateral Description                                 Mixed ARM        1 Month LIBOR ARM                Mixed ARM
Weighted Average Coupon Rate                            3.349512                 3.458260                 3.407925
Weighted Average Net Rate                               2.972669                 3.082349                 3.031582
Pass-Through Rate                                       2.965169                 3.074849                 3.024082
Weighted Average Maturity                                    337                      341                      339
Record Date                                           10/29/2004               10/29/2004               10/29/2004
Principal and Interest Constant                     1,036,083.11             1,241,620.77             2,277,703.88
Beginning Loan Count                                       1,024                    1,240                    2,264
Loans Paid in Full                                             2                        7                        9
Ending Loan Count                                          1,022                    1,233                    2,255
Beginning Scheduled Balance                       371,188,275.53           430,758,820.34           801,947,095.87
Ending Scheduled Balance                          369,956,506.49           426,451,540.86           796,108,047.35
Scheduled Principal                                         0.00                   223.95                   223.95
Unscheduled Principal                               1,531,769.04             4,307,055.53             5,838,824.57
Scheduled Interest                                  1,036,083.11             1,241,396.82             2,277,479.93
Servicing Fee                                         116,566.55               134,939.47               251,506.02
Master Servicing Fee                                    2,319.93                 2,692.24                 5,012.17
Trustee Fee                                                 0.00                     0.00                     0.00
FRY Amount                                                  0.00                     0.00                     0.00
Special Hazard Fee                                          0.00                     0.00                     0.00
Other Fee                                                   0.00                     0.00                     0.00
Pool Insurance Fee                                          0.00                     0.00                     0.00
Spread 1                                                    0.00                     0.00                     0.00
Spread 2                                                    0.00                     0.00                     0.00
Spread 3                                                    0.00                     0.00                     0.00
Net Interest                                          917,196.63             1,103,765.11             2,020,961.74
Realized Loss Amount                                        0.00                     0.00                     0.00
Cumulative Realized Loss                                    0.00                     0.00                     0.00
Percentage of Cumulative Losses                             0.00                     0.00                     0.00
Prepayment Penalties                                        0.00                     0.00                     0.00
Special Servicing Fee                                       0.00                     0.00                     0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                <C>
Group Pool One

One-Month LIBOR Loan Balance                       201,703,200.91
Six-Month LIBOR Loan Balance                       167,953,305.58
Principal Transfer Amount                                    0.00
Interest Transfer Amount                                     0.00
Pro Rata Senior Percent                                 95.365802%
Senior Percent                                         100.000000%
Senior Prepayment Percent                              100.000000%
Subordinate Percent                                      0.000000%
Subordinate Prepayment Percent                           0.000000%

Group Pool Two

Principal Transfer Amount                                    0.00
Interest Transfer Amount                                     0.00
Pro Rata Senior Percent                                 95.426897%
Senior Percent                                         100.000000%
Senior Prepayment Percent                              100.000000%
Subordinate Percent                                      0.000000%
Subordinate Prepayment Percent                           0.000000%
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}]]