Document:

<PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2002-8
                          RECORD DATE: JANUARY 30, 2004
                      DISTRIBUTION DATE: FEBRUARY 20, 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>
     1-A1     81743RAA0       SEN             1.23000%                    0.00            0.00
     1-A2     81743RAB8       SEN             3.45500%           29,863,309.27       85,981.44
      2A      81743RAC6       SEN             1.40000%          377,318,674.13      440,205.12
      3A      81743RAD4       SEN             2.97517%           36,432,851.66       90,328.37
     X-1      81743RAE2        IO             1.77190%                    0.00       44,095.65
     X-2A     81743RAFf9       IO             1.04171%                    0.00      135,353.25
     X-2B     81743AFG7        IO             1.16625%                    0.00      215,170.63
     X-B      81743RAH5        IO             1.26082%                    0.00        9,528.63
     A-R      81743RAJ1       SEN             5.37281%                    0.00            0.00
     B-1      81743RAK8       SUB             1.77500%            9,069,000.00       13,414.56
     B-2      81743RAL6       SUB             3.03582%            5,505,000.00       13,926.81
     B-3      81743RAM4       SUB             3.03582%            3,886,000.00        9,830.99
     B-4      SMT0208B4       SUB             3.03582%            1,618,000.00        4,093.29
     B-5      SMT0208B5       SUB             2.03582%              970,000.00        2,453.95
     B-6      SMT0208B6       SUB             2.03582%            2,306,324.82        5,834.65
----------------------------------------------------------------------------------------------
Totals                                                          466,969,159.88    1,070,217.34
<CAPTION>
                                                               Ending
                               Principal      Current        Certificate          Total         Cumulative
    Class       CUSIP        Distribution  Realized Loss       Balance         Distribution   Realized Loss
-----------------------------------------------------------------------------------------------------------
<S>           <C>            <C>           <C>             <C>                 <C>            <C>
     1-A1     81743RAA0              0.00      0.00                  0.00              0.00       0.00
     1-A2     81743RAB8      1,320,140.22      0.00         28,543,169.05      1,406,121.66       0.00
      2A      81743RAC6      3,178,210.48      0.00        374,140,463.65      3,618,415.60       0.00
      3A      81743RAD4        820,237.03      0.00         35,612,614.63        910,565.40       0.00
     X-1      81743RAE2              0.00      0.00                  0.00         44,095.65       0.00
     X-2A     81743RAFf9             0.00      0.00                  0.00        135,353.25       0.00
     X-2B     81743AFG7              0.00      0.00                  0.00        215,170.63       0.00
     X-B      81743RAH5              0.00      0.00                  0.00          9,528.63       0.00
     A-R      81743RAJ1              0.00      0.00                  0.00              0.00       0.00
     B-1      81743RAK8              0.00      0.00          9,069,000.00         13,414.56       0.00
     B-2      81743RAL6              0.00      0.00          5,505,000.00         13,926.81       0.00
     B-3      81743RAM4              0.00      0.00          3,886,000.00          9,830.99       0.00
     B-4      SMT0208B4              0.00      0.00          1,618,000.00          4,093.29       0.00
     B-5      SMT0208B5              0.00      0.00            970,000.00          2,453.95       0.00
     B-6      SMT0208B6              0.00      0.00          2,306,324.82          5,834.65       0.00
------------------------------------------------------------------------------------------------------
Totals                       5,318,587.73      0.00        461,650,572.15      6,388,805.07       0.00
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                        Beginning        Scheduled         Unscheduled
                Original Face          Certificate       Principal          Principal                   Realized
    Class           Amount               Balance        Distribution       Distribution    Accretion    Loss (1)
----------------------------------------------------------------------------------------------------------------
<S>           <C>                  <C>                 <C>               <C>               <C>          <C>
     1-A1      50,000,000.00                 0.00           0.00                 0.00       0.00          0.00
     1-A2      61,468,000.00        29,863,309.27           0.00         1,320,140.22       0.00          0.00
      2A      463,097,000.00       377,318,674.13         718.96         3,177,491.52       0.00          0.00
      3A       49,973,000.00        36,432,851.66           0.00           820,237.03       0.00          0.00
     X-1                0.00                 0.00           0.00                 0.00       0.00          0.00
     X-2A               0.00                 0.00           0.00                 0.00       0.00          0.00
     X-2B               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
     A-R              100.00                 0.00           0.00                 0.00       0.00          0.00
     B-1        9,069,000.00         9,069,000.00           0.00                 0.00       0.00          0.00
     B-2        5,505,000.00         5,505,000.00           0.00                 0.00       0.00          0.00
     B-3        3,886,000.00         3,886,000.00           0.00                 0.00       0.00          0.00
     B-4        1,618,000.00         1,618,000.00           0.00                 0.00       0.00          0.00
     B-5          970,000.00           970,000.00           0.00                 0.00       0.00          0.00
     B-6        2,306,324.82         2,306,324.82           0.00                 0.00       0.00          0.00
----------------------------------------------------------------------------------------------------------------
Totals        647,892,424.82       466,969,159.88         718.96         5,317,868.77       0.00          0.00

<CAPTION>
                 Total Principal    Ending Certificate    Ending Certificate     Total Principal
    Class           Reduction            Balance              Percentage          Distribution
---------------------------------------------------------------------------------------------
<S>             <C>                 <C>                  <C>                    <C>
     1-A1                 0.00                0.00             0.00000000                 0.00
     1-A2         1,320,140.22       28,543,169.05             0.46435819         1,320,140.22
      2A          3,178,210.48      374,140,463.65             0.80790950         3,178,210.48
      3A            820,237.03       35,612,614.63             0.71263712           820,237.03
     X-1                  0.00                0.00             0.00000000                 0.00
     X-2A                 0.00                0.00             0.00000000                 0.00
     X-2B                 0.00                0.00             0.00000000                 0.00
     X-B                  0.00                0.00             0.00000000                 0.00
     A-R                  0.00                0.00             0.00000000                 0.00
     B-1                  0.00        9,069,000.00             1.00000000                 0.00
     B-2                  0.00        5,505,000.00             1.00000000                 0.00
     B-3                  0.00        3,886,000.00             1.00000000                 0.00
     B-4                  0.00        1,618,000.00             1.00000000                 0.00
     B-5                  0.00          970,000.00             1.00000000                 0.00
     B-6                  0.00        2,306,324.82             1.00000000                 0.00
----------------------------------------------------------------------------------------------
Totals            5,318,587.73      461,650,572.15             0.71254201         5,318,587.73
</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>
     1-A1           50,000,000.00          0.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     1-A2           61,468,000.00        485.83505678   0.00000000      21.47686959     0.00000000       0.00000000
      2A           463,097,000.00        814.77244320   0.00155250       6.86139517     0.00000000       0.00000000
      3A            49,973,000.00        729.05072059   0.00000000      16.41360395     0.00000000       0.00000000
     X-1                     0.00          0.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     X-2A                    0.00          0.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     X-2B                    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
     A-R                   100.00          0.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     B-1             9,069,000.00       1000.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     B-2             5,505,000.00       1000.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     B-3             3,886,000.00       1000.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     B-4             1,618,000.00       1000.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     B-5               970,000.00       1000.00000000   0.00000000       0.00000000     0.00000000       0.00000000
     B-6             2,306,324.82       1000.00000000   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>
     1-A1             0.00000000         0.00000000           0.00000000         0.00000000
     1-A2            21.47686959       464.35818719           0.46435819        21.47686959
      2A              6.86294768       807.90949553           0.80790950         6.86294768
      3A             16.41360395       712.63711664           0.71263712        16.41360395
     X-1              0.00000000         0.00000000           0.00000000         0.00000000
     X-2A             0.00000000         0.00000000           0.00000000         0.00000000
     X-2B             0.00000000         0.00000000           0.00000000         0.00000000
     X-B              0.00000000         0.00000000           0.00000000         0.00000000
     A-R              0.00000000         0.00000000           0.00000000         0.00000000
     B-1              0.00000000      1000.00000000           1.00000000         0.00000000
     B-2              0.00000000      1000.00000000           1.00000000         0.00000000
     B-3              0.00000000      1000.00000000           1.00000000         0.00000000
     B-4              0.00000000      1000.00000000           1.00000000         0.00000000
     B-5              0.00000000      1000.00000000           1.00000000         0.00000000
     B-6              0.00000000      1000.00000000           1.00000000         0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT
<TABLE>
<CAPTION>
                                             Beginning                  Payment of
                                           Certificate/     Current       Unpaid
        Original Face       Current          Notional       Accrued      Interest
Class      Amount       Certificate Rate     Balance        Interest    Shortfall
----------------------------------------------------------------------------------
<S>     <C>             <C>               <C>             <C>           <C>
 1-A1    50,000,000.00           1.23000%           0.00          0.00       0.00
 1-A2    61,468,000.00           3.45500%  29,863,309.27     85,981.44       0.00
  2A    463,097,000.00           1.40000% 377,318,674.13    440,205.12       0.00
  3A     49,973,000.00           2.97517%  36,432,851.66     90,328.37       0.00
  X-1             0.00           1.77190%  29,863,309.27     44,095.65       0.00
 X-2A             0.00           1.04171% 155,920,336.73    135,353.25       0.00
 X-2B             0.00           1.16625% 221,398,337.40    215,170.64       0.00
  X-B             0.00           1.26082%   9,069,000.00      9,528.63       0.00
  A-R           100.00           5.37281%           0.00          0.00       0.00
  B-1     9,069,000.00           1.77500%   9,069,000.00     13,414.56       0.00
  B-2     5,505,000.00           3.03582%   5,505,000.00     13,926.81       0.00
  B-3     3,886,000.00           3.03582%   3,886,000.00      9,830.99       0.00
  B-4     1,618,000.00           3.03582%   1,618,000.00      4,093.29       0.00
  B-5       970,000.00           3.03582%     970,000.00      2,453.95       0.00
  B-6     2,306,324.82           3.03582%   2,306,324.82      5,834.65       0.00
---------------------------------------------------------------------------------
Totals  647,892,424.82                                    1,070,217.35       0.00
<CAPTION>
                     Non-                              Remaining     Ending
         Current   Supported                            Unpaid    Certificate/
        Interest   Interest   Realize  Total Interest  Interest    Notational
Class   Shortfall  Shortfall  Loss(4)   Distribution   Shortfall    Balance
-------------------------------------------------------------------------------
<S>     <C>        <C>        <C>      <C>             <C>       <C>
 1-A1        0.00       0.00     0.00            0.00      0.00            0.00
 1-A2        0.00       0.00     0.00       85,981.44      0.00   28,543,169.05
  2A         0.00       0.00     0.00      440,205.12      0.00  374,140,463.65
  3A         0.00       0.00     0.00       90,328.37      0.00   35,612,614.63
  X-1        0.00       0.00     0.00       44,095.65      0.00   28,543,169.05
 X-2A        0.00       0.00     0.00      135,353.25      0.00  154,300,346.81
 X-2B        0.00       0.00     0.00      215,170.63      0.00  219,840,116.84
  X-B        0.00       0.00     0.00        9,528.63      0.00    9,069,000.00
  A-R        0.00       0.00     0.00            0.00      0.00            0.00
  B-1        0.00       0.00     0.00       13,414.56      0.00    9,069,000.00
  B-2        0.00       0.00     0.00       13,926.81      0.00    5,505,000.00
  B-3        0.00       0.00     0.00        9,830.99      0.00    3,886,000.00
  B-4        0.00       0.00     0.00        4,093.29      0.00    1,618,000.00
  B-5        0.00       0.00     0.00        2,453.95      0.00      970,000.00
  B-6        0.00       0.00     0.00        5,834.65      0.00    2,306,324.82
-------------------------------------------------------------------------------
Totals       0.00       0.00     0.00    1,070,217.34      0.00
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                         Payment of
                          Current       Beginning                          Unpaid
Class   Original Face   Certificate    Certificate/     Current Accrued   Interest
  (5)      Amount          Rate      Notional Balance      Interest      Shortfall
-----------------------------------------------------------------------------------
<S>     <C>             <C>          <C>                <C>              <C>
 1-A1    50,000,000.00      1.23000%       0.00000000        0.00000000  0.00000000
 1-A2    61,468,000.00      3.45500%     485.83505678        1.39880003  0.00000000
  2A    463,097,000.00      1.40000%     814.77244320        0.95056785  0.00000000
  3A     49,973,000.00      2.97517%     729.05072059        1.80754347  0.00000000
  X-1             0.00      1.77190%     267.90925889        0.39559021  0.00000000
 X-2A             0.00      1.04171%     827.75758528        0.71857002  0.00000000
 X-2B             0.00      1.16625%     805.86943792        0.78320120  0.00000000
  X-B             0.00      1.26082%    1000.00000000        1.05068144  0.00000000
  A-R           100.00      5.37281%       0.00000000        0.00000000  0.00000000
  B-1     9,069,000.00      1.77500%    1000.00000000        1.47916639  0.00000000
  B-2     5,505,000.00      3.03582%    1000.00000000        2.52984741  0.00000000
  B-3     3,886,000.00      3.03582%    1000.00000000        2.52984817  0.00000000
  B-4     1,618,000.00      3.03582%    1000.00000000        2.52984549  0.00000000
  B-5       970,000.00      3.03582%    1000.00000000        2.52984536  0.00000000
  B-6     2,306,324.82      3.03582%    1000.00000000        2.52984747  0.00000000

<CAPTION>
                        Non-                                 Remaining
          Current    Supported                                 Unpaid
Class     Interest   Interest     Realized   Total Interest   Interest   Ending Certificate/
 (5)     Shortfall   Shortfall    Loss (6)    Distribution    Shortfall  Notational Balance
--------------------------------------------------------------------------------------------
<S>      <C>         <C>         <C>         <C>             <C>         <C>
 1-A1    0.00000000  0.00000000  0.00000000      0.00000000  0.00000000           0.00000000
 1-A2    0.00000000  0.00000000  0.00000000      1.39880003  0.00000000         464.35818719
  2A     0.00000000  0.00000000  0.00000000      0.95056785  0.00000000         807.90949553
  3A     0.00000000  0.00000000  0.00000000      1.80754347  0.00000000         712.63711664
  X-1    0.00000000  0.00000000  0.00000000      0.39559021  0.00000000         256.06603734
 X-2A    0.00000000  0.00000000  0.00000000      0.71857002  0.00000000         819.15730277
 X-2B    0.00000000  0.00000000  0.00000000      0.78320116  0.00000000         800.19765943
  X-B    0.00000000  0.00000000  0.00000000      1.05068144  0.00000000        1000.00000000
  A-R    0.00000000  0.00000000  0.00000000      0.00000000  0.00000000           0.00000000
  B-1    0.00000000  0.00000000  0.00000000      1.47916639  0.00000000        1000.00000000
  B-2    0.00000000  0.00000000  0.00000000      2.52984741  0.00000000        1000.00000000
  B-3    0.00000000  0.00000000  0.00000000      2.52984817  0.00000000        1000.00000000
  B-4    0.00000000  0.00000000  0.00000000      2.52984549  0.00000000        1000.00000000
  B-5    0.00000000  0.00000000  0.00000000      2.52984536  0.00000000        1000.00000000
  B-6    0.00000000  0.00000000  0.00000000      2.52984747  0.00000000        1000.00000000
</TABLE>

(5)      Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits

        Payments of Interest and Principal                6,539,229.63
        Liquidations, Insurance Proceeds, Reserve Funds           0.00
        Proceeds from Repurchased Loans                           0.00
        Other Amounts (Servicer Advances)                         0.00
        Realized Losses                                           0.00
        Prepayment Penalties                                      0.00
                                                          -------------
Total Deposits                                             6,539,229.63

Withdrawals

        Reimbursement for Servicer Advances                       0.00
        Payment of Service Fee                              150,424.56
        Payment of Interest and Principal                 6,388,805.07
                                                          -------------
Total Withdrawals (Pool Distribution Amount)               6,539,229.63

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

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

                                 SERVICING FEES

<TABLE>
<S>                                                       <C>
Gross Servicing Fee                                       146,922.30
Master Servicing Fee                                        3,502.26
Non-Supported Prepayment/Curtailment Interest Shortfall         0.00
                                                          ----------

Net Servicing Fee                                         150,424.56
                                                          ==========
</TABLE>

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

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

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

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

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

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

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

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

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

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

<PAGE>

<TABLE>
<CAPTION>
                Original $       Original%       Current $       Current %     Current Class %   Prepayment %
              --------------   ------------   --------------   -------------   ---------------   ------------
<S>           <C>              <C>            <C>              <C>             <C>               <C>
Class A       647,892,324.82    99.99998457%  461,650,572.15    100.00000000%        94.941125%      0.000000%
Class 1-A-1   597,892.324.82    92.28265402%  461,650,572.15    100.00000000%         0.000000%      0.000000%
Class 1-A-2   536,424,324.82    82.79527654%  433,107,403.10     93.81714856%         6.182851%    122.217916%
Class 2A       73,327,324.82    11.31782407%   58,966,939.45     12.77306756%        81.044081%  1,602.017898%
Class 3A       23,354,324.82     3.60466089%   23,354,324.82      5.05887488%         7.714193%    152.488307%
Class X-1      23,354,324.82     3.60466089%   23,354,324.82      5.05887488%         0.000000%      0.000000%
Class X-2-A    23,354,324.82     3.60466089%   23,354,324.82      5.05887488%         0.000000%      0.000000%
Class X-2-B    23,354,324.82     3.60466089%   23,354,324.82      5.05887488%         0.000000%      0.000000%
Class B-1      14,285,324.82     2.20489147%   14,285,324.82      3.09440206%         1.964473%     38.832208%
Class B-2       8,780,324.82     1.35521338%    8,780,324.82      1.90194172%         1.192460%     23.571651%
Class B-3       4,894,324.82     0.75542245%    4,894,324.82      1.06017952%         0.841762%     16.639316%
Class B-4       3,276,324.82     0.50568963%    3,276,324.82      0.70969799%         0.350482%      6.928053%
Class B-5       2,306,324.82     0.35597342%    2,306,324.82      0.49958236%         0.210116%      4.153406%
Class B-6               0.00     0.00000000%            0.00      0.00000000%         0.499582%      9.875365%
</TABLE>

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

<TABLE>
<CAPTION>
                  Original $     Original %       Current $     Current %
<S>              <C>             <C>          <C>             <C>
    Bankruptcy      126,045.00   0.01945462%     126,045.00   0.02730312%
         Fraud   19,436,773.00   3.00000004%  10,357,716.80   2.24362698%
Special Hazard   15,500,000.00   2.39237247%  15,499,500.00   3.35740946%
</TABLE>

Limit of subordinate's exposure to certain types of losses
<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1

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

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

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

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

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

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------------------                --------------------
            0.000000%   0.000000%               0.000000%   0.000000%
            --------------------                --------------------
</TABLE>
                                    GROUP 2

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

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

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

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

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

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

<PAGE>

                                     Group 3

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

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

0-29 Days     0.000000%    0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days       0.000000%    0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days       0.000000%    0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days       0.000000%    0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days      0.000000%    0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days      0.000000%    0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days     0.000000%    0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
              ---------------------                --------------------                ---------------------
              0.000000%    0.000000%               0.000000%   0.000000%               0.000000%    0.000000%
              ---------------------                --------------------                ---------------------
</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         0           0.00
60 Days         0         0.00      60 Days         0           0.00
90 Days         0         0.00      90 Days         0           0.00
120 Days        0         0.00      120 Days        0           0.00
150 Days        0         0.00      150 Days        0           0.00
180+ Days       0         0.00      180+ Days       0           0.00
            ---------------------               --------------------
                0         0.00                      0           0.00

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                    Mixed Arm
<S>                                                                     <C>
Weighted Average Gross Coupon                                                 3.136752%
Weighted Average Net Coupon                                                   2.759197%
Weighted Average Pass-Through Rate                                            2.750197%
Weighted Average Maturity (Stepdown Calculation)                                   313

Beginning Scheduled Collateral Loan Count                                        1,244
Number of Loans Paid in Full                                                        14
Ending Scheduled Collateral Loan Count                                           1,230

Beginning Scheduled Collateral Balance                                  466,969,159.88
Ending Scheduled Collateral Balance                                     461,650,572.15
Ending Actual Collateral Balance at 30-Jan-2004                         461,646,825.39

Monthly P&I Constant                                                      1,221,357.77
Special Servicing Fee                                                             0.00
Prepayment Penalties                                                              0.00
Realization Loss Amount                                                           0.00
Cumulative Realized Loss                                                          0.00

Class A Optimal Amount                                                    6,329,722.20

Ending Scheduled Balance for Premium Loans                              461,650,572.15

Scheduled Principal                                                             718.96
Unscheduled Principal                                                     5,317,868.77
</TABLE>

                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
One Month Libor Loan Balance                                     161,432,651.37
Six Month Libor Loan Balance - POOL 1                             32,706,451.94
Six Month Libor Loan Balance - POOL 2                            230,001,900.02
Six Month Libor Loan Balance - POOL 3                             37,509,568.82
Pro Rata Senior Percent                                               94.998744%
Senior Percentage                                                    100.000000%
Senior Prepay Percentage                                             100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                 GROUP                           1                   2                     3                   TOTAL
<S>                                         <C>              <C>                      <C>                 <C>
Collateral Description                          Mixed ARM         Mixed ARM               Mixed ARM            Mixed ARM
Weighted Average Coupon Rate                     5.485899          2.912586                3.359173             3.136752
Weighted Average Net Rate                        5.235899          2.523784                2.984173             2.759197
Pass-Through Rate                                5.226899          2.514784                2.975173             2.750197
Weighted Average Maturity                             337               304                     341                  313
Record Date                                    01/30/2004        01/30/2004              01/30/2004           01/30/2004
Principal and Interest Constant                155,555.38        958,505.34              107,297.05         1,221,357.77
Beginning Loan Count                                   70             1,058                     116                1,244
Loans Paid in Full                                      3                 9                       2                   14
Ending Loan Count                                      67             1,049                     114                1,230
Beginning Scheduled Balance                 34,026,592.16    394,612,761.87           38,329,805.85       466,969,159.88
Ending Scheduled Balance                    32,706,451.94    391,434,551.39           37,509,568.82       461,650,572.15
Scheduled Principal                                  0.00            718.96                    0.00               718.96
Unscheduled Principal                        1,320,140.22      3,177,491.52              820,237.03         5,317,868.77
Scheduled Interest                             155,555.38        957,786.38              107,297.05         1,220,638.81
Servicing Fee                                    7,088.87        127,855.37               11,978.06           146,922.30
Master Servicing Fee                               255.20          2,959.59                  287.47             3,502.26
Trustee Fee                                          0.00              0.00                    0.00                 0.00
FRY Amount                                           0.00              0.00                    0.00                 0.00
Special Hazard Fee                                   0.00              0.00                    0.00                 0.00
Other Fee                                            0.00              0.00                    0.00                 0.00
Pool Insurance Fee                                   0.00              0.00                    0.00                 0.00
Spread 1                                             0.00              0.00                    0.00                 0.00
Spread 2                                             0.00              0.00                    0.00                 0.00
Spread 3                                             0.00              0.00                    0.00                 0.00
Net Interest                                   148,211.31        826,971.42               95,031.52         1,070,214.25
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>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2003-1

                          RECORD DATE: JANUARY 30, 2004
                      DISTRIBUTION DATE: FEBRUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate                        Beginning
                      Class     Certificate Pass-   Certificate       Interest       Principal
 Class     CUSIP   Description   Through Rate         Balance       Distribution   Distribution
 -----     -----   -----------   ------- ----         -------       ------------   ------------
<S>     <C>        <C>          <C>                <C>              <C>            <C>
   1A   81743PAA4      SEN           1.48000%      700,288,217.43     863,688.80   7,290,798.04
   2A   81743PAB2      SEN           1.59000%      168,765,678.89     223,614.52   2,246,816.66
  X-1A  81743PAC0       IO           0.92174%                0.00     122,790.97           0.00
  X-1B  81743PAD8       IO           1.12426%                0.00     506,317.45           0.00
   X-2  81743PAE6       IO           1.02525%                0.00     144,188.45           0.00
   X-B  81743PAF3       IO           0.58903%                0.00       7,807.08           0.00
   A-R  81743PAG1       R            2.74482%                0.00           0.00           0.00
   B-1  81743PAH9      SUB           1.98000%       15,905,000.00      26,243.25           0.00
   B-2  81743PAJ5      SUB           2.56903%        8,210,000.00      17,576.44           0.00
   B-3  81743PAK2      SUB           2.56903%        5,644,000.00      12,083.00           0.00
   B-4  SEQ0301B4      SUB           2.56903%        2,565,000.00       5,491.30           0.00
   B-5  SEQ0301B5      SUB           2.56903%        1,539,000.00       3,294.78           0.00
   B-6  SEQ0301B6      SUB           2.56903%        4,105,618.00       8,789.54           0.00
Totals                                             907,022,514.32   1,941,885.58   9,537,614.70
</TABLE>

<TABLE>
<CAPTION>
                      Current     Ending Certificate       Total        Cumulative
 Class     CUSIP   Realized Loss       Balance         Distribution   Realized Loss
 -----     -----   -------------       -------         ------------   -------------
<S>     <C>        <C>            <C>                 <C>             <C>
   1A   81743PAA4       0.00        692,997,419.39     8,154,486.84        0.00
   2A   81743PAB2       0.00        166,518,862.23     2,470,431.18        0.00
  X-1A  81743PAC0       0.00                  0.00       122,790.97        0.00
  X-1B  81743PAD8       0.00                  0.00       506,317.45        0.00
   X-2  81743PAE6       0.00                  0.00       144,188.45        0.00
   X-B  81743PAF3       0.00                  0.00         7,807.08        0.00
   A-R  81743PAG1       0.00                  0.00             0.00        0.00
   B-1  81743PAH9       0.00         15,905,000.00        26,243.25        0.00
   B-2  81743PAJ5       0.00          8,210,000.00        17,576.44        0.00
   B-3  81743PAK2       0.00          5,644,000.00        12,083.00        0.00
   B-4  SEQ0301B4       0.00          2,565,000.00         5,491.30        0.00
   B-5  SEQ0301B5       0.00          1,539,000.00         3,294.78        0.00
   B-6  SEQ0301B6       0.00          4,105,618.00         8,789.54        0.00
Totals                  0.00        897,484,899.62    11,479,500.28        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>
  1A          798,206,000.00     700,288,217.43      0.00         7,290,798.04    0.00       0.00
  2A          190,000,000.00     168,765,678.89      0.00         2,246,816.66    0.00       0.00
 X-1A                   0.00               0.00      0.00                 0.00    0.00       0.00
 X-1B                   0.00               0.00      0.00                 0.00    0.00       0.00
  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
  A-R                 100.00               0.00      0.00                 0.00    0.00       0.00
  B-1          15,905,000.00      15,905,000.00      0.00                 0.00    0.00       0.00
  B-2           8,210,000.00       8,210,000.00      0.00                 0.00    0.00       0.00
  B-3           5,644,000.00       5,644,000.00      0.00                 0.00    0.00       0.00
  B-4           2,565,000.00       2,565,000.00      0.00                 0.00    0.00       0.00
  B-5           1,539,000.00       1,539,000.00      0.00                 0.00    0.00       0.00
  B-6           4,105,618.00       4,105,618.00      0.00                 0.00    0.00       0.00
Totals      1,026,174,718.00     907,022,514.32      0.00         9,537,614.70    0.00       0.00
</TABLE>

<TABLE>
<CAPTION>

            Total Principal  Ending Certificate  Ending Certificate  Total Principal
   Class       Reduction         Balance             Percentage        Distribution
------------------------------------------------------------------------------------
<S>         <C>              <C>                 <C>                 <C>
   1A         7,290,798.04    692,997,419.39          0.86819370      7,290,798.04
   2A         2,246,816.66    166,518,862.23          0.87641506      2,246,816.66
  X-1A                0.00              0.00          0.00000000              0.00
  X-1B                0.00              0.00          0.00000000              0.00
   X-2                0.00              0.00          0.00000000              0.00
   X-B                0.00              0.00          0.00000000              0.00
   A-R                0.00              0.00          0.00000000              0.00
   B-1                0.00     15,905,000.00          1.00000000              0.00
   B-2                0.00      8,210,000.00          1.00000000              0.00
   B-3                0.00      5,644,000.00          1.00000000              0.00
   B-4                0.00      2,565,000.00          1.00000000              0.00
   B-5                0.00      1,539,000.00          1.00000000              0.00
   B-6                0.00      4,105,618.00          1.00000000              0.00
Totals        9,537,614.70    897,484,899.62          0.87459268      9,537,614.70
</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>
 1A         798,206,000.00         877.32767911     0.00000000     9.13398050   0.00000000  0.00000000
 2A         190,000,000.00         888.24041521     0.00000000    11.82535084   0.00000000  0.00000000
X-1A                  0.00           0.00000000     0.00000000     0.00000000   0.00000000  0.00000000
X-1B                  0.00           0.00000000     0.00000000     0.00000000   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
 A-R                100.00           0.00000000     0.00000000     0.00000000   0.00000000  0.00000000
 B-1         15,905,000.00        1000.00000000     0.00000000     0.00000000   0.00000000  0.00000000
 B-2          8,210,000.00        1000.00000000     0.00000000     0.00000000   0.00000000  0.00000000
 B-3          5,644,000.00        1000.00000000     0.00000000     0.00000000   0.00000000  0.00000000
 B-4          2,565,000.00        1000.00000000     0.00000000     0.00000000   0.00000000  0.00000000
 B-5          1,539,000.00        1000.00000000     0.00000000     0.00000000   0.00000000  0.00000000
 B-6          4,105,618.00        1000.00000000     0.00000000     0.00000000   0.00000000  0.00000000
</TABLE>

<TABLE>
<CAPTION>

            Total Principal  Ending Certificate    Ending Certificate  Total Principal
Class          Reduction           Balance             Percentage        Distribution
--------------------------------------------------------------------------------------
<S>         <C>              <C>                   <C>                 <C>
 1A            9.13398050        868.19369861          0.86819370         9.13398050
 2A           11.82535084        876.41506437          0.87641506        11.82535084
X-1A           0.00000000          0.00000000          0.00000000         0.00000000
X-1B           0.00000000          0.00000000          0.00000000         0.00000000
 X-2           0.00000000          0.00000000          0.00000000         0.00000000
 X-B           0.00000000          0.00000000          0.00000000         0.00000000
 A-R           0.00000000          0.00000000          0.00000000         0.00000000
 B-1           0.00000000       1000.00000000          1.00000000         0.00000000
 B-2           0.00000000       1000.00000000          1.00000000         0.00000000
 B-3           0.00000000       1000.00000000          1.00000000         0.00000000
 B-4           0.00000000       1000.00000000          1.00000000         0.00000000
 B-5           0.00000000       1000.00000000          1.00000000         0.00000000
 B-6           0.00000000       1000.00000000          1.00000000         0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                 Beginning                     Payment of                    Non-
                                  Current      Certificate/        Current       Unpaid        Current     Supported
             Original Face      Certificate      Notional         Accrued       Interest      Interest     Interest     Realized
 Class           Amount            Rate          Balance          Interest      Shortfall     Shortfall    Shortfall    Loss (4)
--------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                <C>           <C>              <C>             <C>            <C>          <C>          <C>
  1A         798,206,000.00       1.48000%    700,288,217.43     863,688.80       0.00          0.00         0.00         0.00
  2A         190,000,000.00       1.59000%    168,765,678.89     223,614.52       0.00          0.00         0.00         0.00
 X-1A                  0.00       0.92174%    159,860,510.23     122,790.97       0.00          0.00         0.00         0.00
 X-1B                  0.00       1.12426%    540,427,708.19     506,317.46       0.00          0.00         0.00         0.00
  X-2                  0.00       1.02525%    168,765,678.89     144,188.46       0.00          0.00         0.00         0.00
  X-B                  0.00       0.58903%     15,905,000.00       7,807.08       0.00          0.00         0.00         0.00
  A-R                100.00       2.74482%              0.00           0.00       0.00          0.00         0.00         0.00
  B-1         15,905,000.00       1.98000%     15,905,000.00      26,243.35       0.00          0.00         0.00         0.00
  B-2          8,210,000.00       2.56903%      8,210,000.00      17,576.44       0.00          0.00         0.00         0.00
  B-3          5,644,000.00       2.56903%      5,644,000.00      12,083.00       0.00          0.00         0.00         0.00
  B-4          2,565,000.00       2.56903%      2,565,000.00       5,491.30       0.00          0.00         0.00         0.00
  B-5          1,539,000.00       2.56903%      1,539,000.00       3,294.78       0.00          0.00         0.00         0.00
  B-6          4,105,618.00       2.56903%      4,105,618.00       8,789.54       0.00          0.00         0.00         0.00
Totals     1,026,174,718.00                                    1,941,885.60       0.00          0.00         0.00         0.00
</TABLE>

<TABLE>
<CAPTION>
                                Remaining           Ending
                                 Unpaid          Certificate/
              Total Interest     Interest         Notational
 Class         Distribution     Shortfall           Balance
--------------------------------------------------------------
<S>           <C>               <C>             <C>
  1A            863,688.80         0.00         692,997,419.39
  2A            223,614.52         0.00         166,518,862.23
 X-1A           122,790.97         0.00         159,070,732.23
 X-1B           506,317.45         0.00         533,926,688.15
  X-2           144,188.45         0.00         166,518,862.23
  X-B             7,807.08         0.00          15,905,000.00
  A-R                 0.00         0.00                   0.00
  B-1            26,243.25         0.00          15,905,000.00
  B-2            17,576.44         0.00           8,210,000.00
  B-3            12,083.00         0.00           5,644,000.00
  B-4             5,491.30         0.00           2,565,000.00
  B-5             3,294.78         0.00           1,539,000.00
  B-6             8,789.54         0.00           4,105,618.00
Totals        1,941,885.58         0.00
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                       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>
 1A     798,206,000.00   1.48000%     877.32767911      1.08203747     0.00000000   0.00000000   0.00000000    0.00000000
 2A     190,000,000.00   1.59000%     888.24041521      1.17691853     0.00000000   0.00000000   0.00000000    0.00000000
X-1A              0.00   0.92174%     872.70514629      0.67033635     0.00000000   0.00000000   0.00000000    0.00000000
X-1B              0.00   1.12426%     878.70444273      0.82324314     0.00000000   0.00000000   0.00000000    0.00000000
 X-2              0.00   1.02525%     888.24041521      0.75888663     0.00000000   0.00000000   0.00000000    0.00000000
 X-B              0.00   0.58903%    1000.00000000      0.49085696     0.00000000   0.00000000   0.00000000    0.00000000
 A-R            100.00   2.74482%       0.00000000      0.00000000     0.00000000   0.00000000   0.00000000    0.00000000
 B-1     15,905,000.00   1.98000%    1000.00000000      1.65000000     0.00000000   0.00000000   0.00000000    0.00000000
 B-2      8,210,000.00   2.56903%    1000.00000000      2.10485749     0.00000000   0.00000000   0.00000000    0.00000000
 B-3      5,644,000.00   2.56903%    1000.00000000      2.14085755     0.00000000   0.00000000   0.00000000    0.00000000
 B-4      2,565,000.00   2.56903%    1000.00000000      2.14085770     0.00000000   0.00000000   0.00000000    0.00000000
 B-5      1,539,000.00   2.56903%    1000.00000000      2.14085770     0.00000000   0.00000000   0.00000000    0.00000000
 B-6      4,105,618.00   2.56903%    1000.00000000      2.14085675     0.00000000   0.00000000   0.00000000    0.00000000
</TABLE>

<TABLE>
<CAPTION>
                        Remaining
                          Unpaid
Class   Total Interest   Interest       Ending Certificate/
 (5)     Distribution   Shortfall       Notational Balance
-----------------------------------------------------------
<S>     <C>             <C>             <C>
 1A      1.08203747     0.00000000         868.19369861
 2A      1.17691853     0.00000000         876.41506437
X-1A     0.67033635     0.00000000         868.39361667
X-1B     0.82324312     0.00000000         868.13415719
 X-2     0.75888658     0.00000000         876.41506437
 X-B     0.49085696     0.00000000        1000.00000000
 A-R     0.00000000     0.00000000          0.000000000
 B-1     1.65000000     0.00000000        1000.00000000
 B-2     2.14085749     0.00000000        1000.00000000
 B-3     2.14085755     0.00000000        1000.00000000
 B-4     2.14085770     0.00000000        1000.00000000
 B-5     2.14085770     0.00000000        1000.00000000
 B-6     2.14085675     0.00000000        1000.00000000
</TABLE>

(5)  Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits

         Payments of Interest and Principal                        11,772,139.42
         Liquidations, Insurance Proceeds, Reserve Funds                    0.00
         Proceeds from Repurchased Loans                                    0.00
         Other Amounts (Servicer Advances)                                671.43
         Realized Losses                                                    0.00
         Prepayment Penalties                                               0.00
                                                                   -------------
Total Deposits                                                     11,772,810.85

Withdrawals

         Reimbursement for Servicer Advances                              671.43
         Payment of Service Fee                                       292,639.15
         Payment of Interest and Principal                         11,479,500.27
                                                                   -------------
Total Withdrawals (Pool Distribution Amount)                       11,772,810.85

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

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

                                 SERVICING FEES

<TABLE>
<S>                                                                   <C>
Gross Servicing Fee                                                   285,080.62
Master Servicing Fee                                                    7,558.53
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------

Net Servicing Fee                                                     292,639.15
                                                                      ==========
</TABLE>

<PAGE>

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

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
                DELINQUENT                     BANKRUPTCY                         FORECLOSURE
-------------------------------------------------------------------------------------------------------
             No. of    Principal                No. of    Principal                 No. of    Principal
              Loans     Balance                 Loans      Balance                  Loans      Balance
-------------------------------------------------------------------------------------------------------
<S>         <C>        <C>         <C>         <C>        <C>         <C>          <C>        <C>
0-29 Days       0            0.00  0-29 Days      0          0.00     0-29 Days       0          0.00
30 Days         0            0.00  30 Days        0          0.00     30 Days         0          0.00
60 Days         0            0.00  60 Days        0          0.00     60 Days         0          0.00
90 Days         0            0.00  90 Days        0          0.00     90 Days         0          0.00
120 Days        1      280,250.00  120 Days       0          0.00     120 Days        0          0.00
150 Days        0            0.00  150 Days       0          0.00     150 Days        0          0.00
180+ Days       0            0.00  180+ Days      0          0.00     180+ Days       0          0.00
            ---------------------               -----------------                  --------------------
                1      280,250.00                 0          0.00                     0          0.00

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

0-29 Days   0.000000%   0.000000%  0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%  30 Days     0.000000%  0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%  60 Days     0.000000%  0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%  90 Days     0.000000%  0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.038865%   0.031226%  120 Days    0.000000%  0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%  150 Days    0.000000%  0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%  180+ Days   0.000000%  0.000000%   180+ Days   0.000000%   0.000000%
           ----------------------              --------------------               --------------------
            0.038865%   0.031226%              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        0             0.00
60 Days       0           0.00    60 Days        0             0.00
90 Days       0           0.00    90 Days        0             0.00
120 Days      0           0.00    120 Days       1       280,250.00
150 Days      0           0.00    150 Days       0             0.00
180+ Days     0           0.00    180+ Days      0             0.00
           ---------------------               --------------------
              0           0.00                   1       280,250.00

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

0-29 Days  0.000000%   0.000000%  0-29 Days   0.000000%   0.000000%
30 Days    0.000000%   0.000000%  30 Days     0.000000%   0.000000%
60 Days    0.000000%   0.000000%  60 Days     0.000000%   0.000000%
90 Days    0.000000%   0.000000%  90 Days     0.000000%   0.000000%
120 Days   0.000000%   0.000000%  120 Days    0.038865%   0.031226%
150 Days   0.000000%   0.000000%  150 Days    0.000000%   0.000000%
180+ Days  0.000000%   0.000000%  180+ Days   0.000000%   0.000000%
           ---------------------              ---------------------
           0.000000%   0.000000%              0.038865%   0.031226%
</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   671.43
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                  Original $          Original%        Current $         Current %   Current Class %     Prepayment %
                  ----------          ---------        ---------         ---------   ---------------     ------------
<S>           <C>                    <C>            <C>               <C>            <C>                <C>
Class A       1,026,174,618.00       99.99999026%   897,484,899.62    100.00000000%     95.769442%          0.000000%
Class 1A        227,968,618.00       22.21538048%   204,487,480.23     22.78450371%     77.215496%      1,825.184734%
Class 2A         37,968,618.00        3.70001495%    37,968,618.00      4.23055786%     18.553946%        438.569722%
Class X-1-A      37,968,618.00        3.70001495%    37,968,618.00      4.23055786%      0.000000%          0.000000%
Class X-1-B      37,968,618.00        3.70001495%    37,968,618.00      4.23055786%      0.000000%          0.000000%
Class X-2        37,968,618.00        3.70001495%    37,968,618.00      4.23055786%      0.000000%          0.000000%
Class B-1        22,063,618.00        2.15008396%    22,063,618.00      2.45838320%      1.772175%         41.889858%
Class B-2        13,853,618.00        1.35002527%    13,853,618.00      1.54360458%      0.914779%         21.623120%
Class B-3         8,209,618.00        0.80002146%     8,209,618.00      0.91473606%      0.628869%         14.864908%
Class B-4         5,644,618.00        0.55006403%     5,644,618.00      0.62893738%      0.285799%          6.755579%
Class B-5         4,105,618.00        0.40008957%     4,105,618.00      0.45745817%      0.171479%          4.053347%
Class B-6                 0.00        0.00000000%             0.00      0.00000000%      0.457458%         10.813188%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

                                     POOL 1

<TABLE>
<CAPTION>
           DELINQUENT                            BANKRUPTCY                            FORECLOSURE
--------------------------------------------------------------------------------------------------------------
             No. of     Principal                  No. of      Principal                No. of       Principal
             Loans       Balance                   Loans        Balance                 Loans         Balance
--------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>          <C>         <C>           <C>         <C>         <C>           <C>
0-29 Days       0             0.00   0-29 Days       0              0.00   0-29 Days        0             0.00
30 Days         0             0.00   30 Days         0              0.00   30 Days          0             0.00
60 Days         0             0.00   60 Days         0              0.00   60 Days          0             0.00
90 Days         0             0.00   90 Days         0              0.00   90 Days          0             0.00
120 Days        1       280,250.00   120 Days        0              0.00   120 Days         0             0.00
150 Days        0             0.00   150 Days        0              0.00   150 Days         0             0.00
180+ Days       0             0.00   180+ Days       0              0.00   180+ Days        0             0.00
           ----------   ----------               ----------    ---------               -----------   ---------
                1       280,250.00                   0              0.00                    0             0.00

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

0-29 Days    0.000000%    0.000000%  0-29 Days     0.000000%    0.000000%  0-29 Days      0.000000%   0.000000%
30 Days      0.000000%    0.000000%  30 Days       0.000000%    0.000000%  30 Days        0.000000%   0.000000%
60 Days      0.000000%    0.000000%  60 Days       0.000000%    0.000000%  60 Days        0.000000%   0.000000%
90 Days      0.000000%    0.000000%  90 Days       0.000000%    0.000000%  90 Days        0.000000%   0.000000%
120 Days     0.048709%    0.038726%  120 Days      0.000000%    0.000000%  120 Days       0.000000%   0.000000%
150 Days     0.000000%    0.000000%  150 Days      0.000000%    0.000000%  150 Days       0.000000%   0.000000%
180+ Days    0.000000%    0.000000%  180+ Days     0.000000%    0.000000%  180+ Days      0.000000%   0.000000%
           ----------   ----------               ----------    ---------               -----------   ---------
             0.048709%    0.038726%                0.000000%    0.000000%                 0.000000%   0.000000%
           ----------   ----------               ----------    ---------               -----------   ---------
</TABLE>

<TABLE>
<CAPTION>
              REO                               TOTAL
--------------------------------------------------------------------
             No. of    Principal               No. of     Principal
              Loans     Balance                Loans      Balance
--------------------------------------------------------------------
<C>         <C>        <C>         <C>         <C>        <C>
0-29 Days       0           0.00   0-29 Days      0             0.00
30 Days         0           0.00   30 Days        0             0.00
60 Days         0           0.00   60 Days        0             0.00
90 Days         0           0.00   90 Days        0             0.00
120 Days        0           0.00   120 Days       1       280,250.00
150 Days        0           0.00   150 Days       0             0.00
180+ Days       0           0.00   180+ Days      0             0.00
            --------   ---------               --------   ----------
                0           0.00                  1       280,250.00

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

0-29 Days   0.000000%   0.000000%  0-29 Days   0.000000%    0.000000%
30 Days     0.000000%   0.000000%  30 Days     0.000000%    0.000000%
60 Days     0.000000%   0.000000%  60 Days     0.000000%    0.000000%
90 Days     0.000000%   0.000000%  90 Days     0.000000%    0.000000%
120 Days    0.000000%   0.000000%  120 Days    0.048709%    0.038726%
150 Days    0.000000%   0.000000%  150 Days    0.000000%    0.000000%
180+ Days   0.000000%   0.000000%  180+ Days   0.000000%    0.000000%
            --------   ---------               --------   ----------
            0.000000%   0.000000%              0.048709%    0.038726%
            --------   ---------               --------   ----------
</TABLE>

                                     POOL 2

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

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

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

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

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                       Mixed Arm
----------------------------------------------------------------------
<S>                                                     <C>
Weighted Average Gross Coupon                                 2.956299%
Weighted Average Net Coupon                                   2.579134%
Weighted Average Pass-Through Rate                            2.569134%
Weighted Average Maturity (Stepdown Calculation)                   315

Beginning Scheduled Collateral Loan Count                        2,596
Number of Loans Paid in Full                                        23
Ending Scheduled Collateral Loan Count                           2,573

Beginning Scheduled Collateral Balance                  907,022,514.32
Ending Scheduled Collateral Balance                     897,484,899.62
Ending Actual Collateral Balance at 30-Jan-2004         897,488,100.32

Monthly P&I Constant                                      2,234,524.71
Special Servicing Fee                                             0.00
Prepayment Penalties                                              0.00
Realization Loss Amount                                           0.00
Cumulative Realized Loss                                          0.00

Class A Optimal Amount                                   11,398,214.91

Ending Scheduled Balance for Premium Loans              897,484,899.62

Scheduled Principal                                               0.00
Unscheduled Principal                                     9,537,614.70
</TABLE>

MISCELLANEOUS REPORTING

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

<PAGE>

<TABLE>
<CAPTION>
           GROUP                                 1                 2                TOTAL
                                                                6 Month
    Collateral Description                    Mixed ARM        LIBOR  ARM        Mixed ARM
<S>                                        <C>               <C>               <C>
Weighted Average Coupon Rate                     2.945714          3.000245          2.956299
Weighted Average Net Rate                        2.568028          2.625245          2.579134
Pass-Through Rate                                2.558028          2.615245          2.569134
Weighted Average Maturity                             313               321               315
Record Date                                    01/30/2004        01/30/2004        01/30/2004
Principal and Interest Constant              1,794,324.98        440,199.73      2,234,524.71
Beginning Loan Count                                2,070               526             2,596
Loans Paid in Full                                     17                 6                23
Ending Loan Count                                   2,053               520             2,573
Beginning Scheduled Balance                730,956,993.43    176,065,520.89    907,022,514.32
Ending Scheduled Balance                   723,666,195.39    173,818,704.23    897,484,899.62
Scheduled Principal                                  0.00              0.00              0.00
Unscheduled Principal                        7,290,798.04      2,246,816.66      9,537,614.70
Scheduled Interest                           1,794,324.98        440,199.73      2,234,524.71
Servicing Fee                                  230,060.14         55,020.48        285,080.62
Master Servicing Fee                             6,091.32          1,467.21          7,558.53
Trustee Fee                                          0.00              0.00              0.00
FRY Amount                                           0.00              0.00              0.00
Special Hazard Fee                                   0.00              0.00              0.00
Other Fee                                            0.00              0.00              0.00
Pool Insurance Fee                                   0.00              0.00              0.00
Spread 1                                             0.00              0.00              0.00
Spread 2                                             0.00              0.00              0.00
Spread 3                                             0.00              0.00              0.00
Net Interest                                 1,558,173.52        383,712.04      1,941,885.56
Realized Loss Amount                                 0.00              0.00              0.00
Cumulative Realized Loss                             0.00              0.00              0.00
Percentage of Cumulative Losses                      0.00              0.00              0.00
Prepayment Penalties                                 0.00              0.00              0.00
Special Servicing Fee                                0.00              0.00              0.00
</TABLE>

<PAGE>

                             MISCELLANEOUS REPORTING
<TABLE>
<S>                                                              <C>
Group Pool 1
One Month Libor Loan Balance                                     166,110,447.47
Six Month Libor Loan Balance                                     557,555,747.92
Senior Percent                                                      100.000000%
Senior Prepayment Percent                                           100.000000%
Subordinate Percent                                                   0.000000%
Subordinate Prepayment Percent                                        0.000000%

Group Pool 2
Six Month Libor Loan Balance                                     173,818,704.23
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-00061-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00061-of-00352.parquet"}]]