Document:

<PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2003-3
                         RECORD DATE: SEPTEMBER 30, 2003
                       DISTRIBUTION DATE: OCTOBER 20, 2003

                     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>
  A-1     81743PAT3       SEN           1.45000%        373,289,398.99     451,058.02    9,043,234.63
  A-2     81743PAU0       SEN           1.34000%        147,654,996.12     164,881.41    1,231,093.25
 X-1A     81743PAV8        IO           0.93848%                  0.00      77,783.06            0.00
 X-1B     81743PAW6        IO           1.30492%                  0.00     297,772.96            0.00
  X-2     81743PAX4        IO           1.40737%                  0.00     173,170.68            0.00
  X-B     81743PAY2        IO           0.91280%                  0.00       6,903.05            0.00
  A-R     81743PBA3        R            2.63318%                  0.00           0.00            0.00
  B-1     81743PBB1       SUB           1.77000%          9,075,000.00      13,385.63            0.00
  B-2     81743PBC9       SUB           2.68280%          4,675,000.00      10,451.74            0.00
  B-3     81743PBD7       SUB           2.68280%          2,475,000.00       5,533.27            0.00
  B-4     81743PBE5       SUB           2.68280%          1,650,000.00       3,688.85            0.00
  B-5     81743PBF2       SUB           2.68280%            825,000.00       1,844.42            0.00
  B-6     81743PBG0       SUB           2.68280%          1,925,608.17       4,305.02            0.00
-----------------------------------------------------------------------------------------------------
Totals                                                  541,570,003.28   1,210,778.11   10,274,327.88
-----------------------------------------------------------------------------------------------------

<CAPTION>
-----------------------------------------------------------------------------------------
                            Current      Ending Certificate      Total        Cumulative
 Class      CUSIP        Realized Loss         Balance        Distribution  Realized Loss
-----------------------------------------------------------------------------------------
<S>       <C>             <C>            <C>                 <C>             <C>
  A-1     81743PAT3          0.00          364,246,164.36     9,494,292.65       0.00
  A-2     81743PAU0          0.00          146,423,902.87     1,395,974.66       0.00
 X-1A     81743PAV8          0.00                    0.00        77,783.06       0.00
 X-1B     81743PAW6          0.00                    0.00       297,772.96       0.00
  X-2     81743PAX4          0.00                    0.00       173,170.68       0.00
  X-B     81743PAY2          0.00                    0.00         6,903.05       0.00
  A-R     81743PBA3          0.00                    0.00             0.00       0.00
  B-1     81743PBB1          0.00            9,075,000.00        13,385.63       0.00
  B-2     81743PBC9          0.00            4,675,000.00        10,451.74       0.00
  B-3     81743PBD7          0.00            2,475,000.00         5,533.27       0.00
  B-4     81743PBE5          0.00            1,650,000.00         3,688.85       0.00
  B-5     81743PBF2          0.00              825,000.00         1,844.42       0.00
  B-6     81743PBG0          0.00            1,925,608.17         4,305.02       0.00
-----------------------------------------------------------------------------------------
Totals                       0.00          531,295,675.40    11,485,105.99       0.00
-----------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
                                  Beginning        Scheduled        Unscheduled
              Original Face      Certificate       Principal         Principal                   Realized
   Class          Amount           Balance       Distribution       Distribution    Accretion    Loss (1)
---------------------------------------------------------------------------------------------------------
<S>          <C>               <C>               <C>              <C>               <C>          <C>
    A-1      379,455,000.00    373,289,398.99        0.00          9,043,234.63        0.00         0.00
    A-2      149,922,000.00    147,654,996.12        0.00          1,231,093.25        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        9,075,000.00      9,075,000.00        0.00                  0.00        0.00         0.00
    B-2        4,675,000.00      4,675,000.00        0.00                  0.00        0.00         0.00
    B-3        2,475,000.00      2,475,000.00        0.00                  0.00        0.00         0.00
    B-4        1,650,000.00      1,650,000.00        0.00                  0.00        0.00         0.00
    B-5          825,000.00        825,000.00        0.00                  0.00        0.00         0.00
    B-6        1,925,608.17      1,925,608.17        0.00                  0.00        0.00         0.00
---------------------------------------------------------------------------------------------------------
Totals       550,002,708.17    541,570,003.28        0.00         10,274,327.88        0.00         0.00
---------------------------------------------------------------------------------------------------------

<CAPTION>
-----------------------------------------------------------------------------------------------------------
              Original Face      Total Principal   Ending Certificate  Ending Certificate   Total Principal
   Class          Amount            Reduction            Balance          Percentage         Distribution
-----------------------------------------------------------------------------------------------------------
<S>          <C>                 <C>               <C>                 <C>                 <C>
    A-1      379,455,000.00        9,043,234.63      364,246,164.36        0.95991926        9,043,234.63
    A-2      149,922,000.00        1,231,093.25      146,423,902.87        0.97666722        1,231,093.25
   X-1A                0.00                0.00                0.00        0.00000000                0.00
   X-1B                0.00                0.00                0.00        0.00000000                0.00
    X-2                0.00                0.00                0.00        0.00000000                0.00
    X-B                0.00                0.00                0.00        0.00000000                0.00
    A-R              100.00                0.00                0.00        0.00000000                0.00
    B-1        9,075,000.00                0.00        9,075,000.00        1.00000000                0.00
    B-2        4,675,000.00                0.00        4,675,000.00        1.00000000                0.00
    B-3        2,475,000.00                0.00        2,475,000.00        1.00000000                0.00
    B-4        1,650,000.00                0.00        1,650,000.00        1.00000000                0.00
    B-5          825,000.00                0.00          825,000.00        1.00000000                0.00
    B-6        1,925,608.17                0.00        1,925,608.17        1.00000000                0.00
-----------------------------------------------------------------------------------------------------------
Totals       550,002,708.17       10,274,327.88      531,295,675.40        0.96598738       10,274,327.88
-----------------------------------------------------------------------------------------------------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
                                Beginning       Scheduled      Unscheduled
           Original Face       Certificate      Principal       Principal                     Realized
Class          Amount            Balance      Distribution     Distribution   Accretion       Loss (3)
------------------------------------------------------------------------------------------------------
<S>        <C>                <C>             <C>              <C>            <C>            <C>
 A-1       379,455,000.00      983.75143031    0.00000000      23.83216621    0.00000000     0.00000000
 A-2       149,922,000.00      984.87877776    0.00000000       8.21155834    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         9,075,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-2         4,675,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-3         2,475,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-4         1,650,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-5           825,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-6         1,925,608.17     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
-------------------------------------------------------------------------------------------------------

<CAPTION>
----------------------------------------------------------------------------------------------------------
              Original Face    Total Principal   Ending Certificate  Ending Certificate   Total Principal
Class             Amount          Reduction            Balance          Percentage          Distribution
----------------------------------------------------------------------------------------------------------
<S>           <C>              <C>               <C>                 <C>                  <C>
 A-1          379,455,000.00     23.83216621        959.91926410          0.95991926        23.83216621
 A-2          149,922,000.00      8.21155834        976.66721942          0.97666722         8.21155834
X-1A                    0.00      0.00000000          0.00000000          0.00000000         0.00000000
X-1B                    0.00      0.00000000          0.00000000          0.00000000         0.00000000
 X-2                    0.00      0.00000000          0.00000000          0.00000000         0.00000000
 X-B                    0.00      0.00000000          0.00000000          0.00000000         0.00000000
 A-R                  100.00      0.00000000          0.00000000          0.00000000         0.00000000
 B-1            9,075,000.00      0.00000000       1000.00000000          1.00000000         0.00000000
 B-2            4,675,000.00      0.00000000       1000.00000000          1.00000000         0.00000000
 B-3            2,475,000.00      0.00000000       1000.00000000          1.00000000         0.00000000
 B-4            1,650,000.00      0.00000000       1000.00000000          1.00000000         0.00000000
 B-5              825,000.00      0.00000000       1000.00000000          1.00000000         0.00000000
 B-6            1,925,608.17      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       Current     Non-Supported
          Original Face        Current             Notional         Accrued       Interest      Interest       Interest    Realized
 Class        Amount       Certificate Rate        Balance          Interest      Shortfall     Shortfall     Shortfall    Loss (4)
-----------------------------------------------------------------------------------------------------------------------------------
<S>       <C>              <C>                  <C>              <C>             <C>            <C>         <C>            <C>
  A-1     379,455,000.00       1.45000%         373,289,398.99     451,058.02       0.00          0.00         0.00          0.00
  A-2     149,922,000.00       1.34000%         147,654,996.12     164,881.41       0.00          0.00         0.00          0.00
 X-1A               0.00       0.93848%          99,458,019.30      77,783.06       0.00          0.00         0.00          0.00
 X-1B               0.00       1.30492%         273,831,379.69     297,772.96       0.00          0.00         0.00          0.00
  X-2               0.00       1.40737%         147,654,996.12     173,170.68       0.00          0.00         0.00          0.00
  X-B               0.00       0.91280%           9,075,000.00       6,903.05       0.00          0.00         0.00          0.00
  A-R             100.00       2.63318%                   0.00           0.00       0.00          0.00         0.00          0.00
  B-1       9,075,000.00       1.77000%           9,075,000.00      13,385.63       0.00          0.00         0.00          0.00
  B-2       4,675,000.00       2.68280%           4,675,000.00      10,451.74       0.00          0.00         0.00          0.00
  B-3       2,475,000.00       2.68280%           2,475,000.00       5,533.27       0.00          0.00         0.00          0.00
  B-4       1,650,000.00       2.68280%           1,650,000.00       3,688.85       0.00          0.00         0.00          0.00
  B-5         825,000.00       2.68280%             825,000.00       1,844.42       0.00          0.00         0.00          0.00
  B-6       1,925,608.17       2.68280%           1,925,608.17       4,305.02       0.00          0.00         0.00          0.00
-----------------------------------------------------------------------------------------------------------------------------------
Totals    550,002,708.17                                         1,210,778.10       0.00          0.00         0.00          0.00
-----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------
                                                     Remaining       Ending
                                                       Unpaid      Certificate/
           Original Face          Total Interest      Interest     Notational
 Class         Amount              Distribution      Shortfall       Balance
-------------------------------------------------------------------------------
<S>        <C>                    <C>                <C>         <C>
  A-1      379,455,000.00           451,058.02          0.00     364,246,164.36
  A-2      149,922,000.00           164,881.41          0.00     146,423,902.87
 X-1A                0.00            77,783.06          0.00      99,045,551.68
 X-1B                0.00           297,772.96          0.00     265,200,612.68
  X-2                0.00           173,170.68          0.00     146,423,902.87
  X-B                0.00             6,903.05          0.00       9,075,000.00
  A-R              100.00                 0.00          0.00               0.00
  B-1        9,075,000.00            13,385.63          0.00       9,075,000.00
  B-2        4,675,000.00            10,451.74          0.00       4,675,000.00
  B-3        2,475,000.00             5,533.27          0.00       2,475,000.00
  B-4        1,650,000.00             3,688.85          0.00       1,650,000.00
  B-5          825,000.00             1,844.42          0.00         825,000.00
  B-6        1,925,608.17             4,305.02          0.00       1,925,608.17
-------------------------------------------------------------------------------
Totals     550,002,708.17         1,210,778.11          0.00
-------------------------------------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                Payment of
                                 Current        Beginning                         Unpaid      Current    Non-Supported
 Class        Original Face   Certificate      Certificate/    Current Accrued   Interest     Interest     Interest       Realized
  (5)            Amount           Rate       Notional Balance     Interest       Shortfall    Shortfall    Shortfall      Loss (4)
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>              <C>            <C>               <C>              <C>          <C>         <C>              <C>
   A-1       379,455,000.00     1.45000%       983.75143031      1.18869964     0.00000000   0.00000000    0.00000000     0.00000000
   A-2       149,922,000.00     1.34000%       984.87877776      1.09978129     0.00000000   0.00000000    0.00000000     0.00000000
  X-1A                 0.00     0.93848%       986.37732001      0.77141539     0.00000000   0.00000000    0.00000000     0.00000000
  X-1B                 0.00     1.30492%       982.80114144      1.06872925     0.00000000   0.00000000    0.00000000     0.00000000
   X-2                 0.00     1.40737%       984.87877776      1.15507184     0.00000000   0.00000000    0.00000000     0.00000000
   X-B                 0.00     0.91280%      1000.00000000      0.76066667     0.00000000   0.00000000    0.00000000     0.00000000
   A-R               100.00     2.63318%         0.00000000      0.00000000     0.00000000   0.00000000    0.00000000     0.00000000
   B-1         9,075,000.00     1.77000%      1000.00000000      1.47500055     0.00000000   0.00000000    0.00000000     0.00000000
   B-2         4,675,000.00     2.68280%      1000.00000000      2.23566631     0.00000000   0.00000000    0.00000000     0.00000000
   B-3         2,475,000.00     2.68280%      1000.00000000      2.23566465     0.00000000   0.00000000    0.00000000     0.00000000
   B-4         1,650,000.00     2.68280%      1000.00000000      2.23566667     0.00000000   0.00000000    0.00000000     0.00000000
   B-5           825,000.00     2.68280%      1000.00000000      2.23566061     0.00000000   0.00000000    0.00000000     0.00000000
   B-6         1,925,608.17     2.68280%      1000.00000000      2.23566771     0.00000000   0.00000000    0.00000000     0.00000000
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
-----------------------------------------------------------------------------------
                                                   Remaining
                                                    Unpaid      Ending Certificate/
 Class      Original Face        Total Interest    Interest         Notational
  (5)          Amount             Distribution     Shortfall         Balance
-----------------------------------------------------------------------------------
<S>         <C>                   <C>             <C>           <C>
  A-1       379,455,000.00        1.18869964      0.00000000        959.91926410
  A-2       149,922,000.00        1.09978129      0.00000000        976.66721942
 X-1A                 0.00        0.77141539      0.00000000        982.28666237
 X-1B                 0.00        1.06872925      0.00000000        951.82467819
  X-2                 0.00        1.15507184      0.00000000        976.66721942
  X-B                 0.00        0.76066667      0.00000000       1000.00000000
  A-R               100.00        0.00000000      0.00000000          0.00000000
  B-1         9,075,000.00        1.47500055      0.00000000       1000.00000000
  B-2         4,675,000.00        2.23566631      0.00000000       1000.00000000
  B-3         2,475,000.00        2.23566465      0.00000000       1000.00000000
  B-4         1,650,000.00        2.23566667      0.00000000       1000.00000000
  B-5           825,000.00        2.23566061      0.00000000       1000.00000000
  B-6         1,925,608.17        2.23566771      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

<TABLE>
<CAPTION>
<S>                                                                               <C>
                                         CERTIFICATE ACCOUNT

Beginning Balance                                                                          0.00

Deposits
         Payments of Interest and Principal                                       11,656,868.63
         Liquidations, Insurance Proceeds, Reserve Funds                                   0.00
         Proceeds from Repurchased Loans                                                   0.00
         Other Amounts (Servicer Advances)                                             8,251.37
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                         0.00
         Prepayment Penalties                                                              0.00
                                                                                  -------------
Total Deposits                                                                    11,665,120.00

Withdrawals
         Reimbursement for Servicer Advances                                           5,794.17
         Payment of Service Fee                                                      174,219.84
         Payment of Interest and Principal                                        11,485,105.99
                                                                                  -------------
Total Withdrawals (Pool Distribution Amount)                                      11,665,120.00

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                                           169,706.77
Master Servicing Fee                                            4,513.07
Supported Prepayment/Curtailment Interest Shortfall                 0.00
                                                              ----------

Net Servicing Fee                                             174,219.84
                                                              ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------
                   Beginning          Current          Current       Ending
Account Type        Balance         Withdrawals       Deposits       Balance
----------------------------------------------------------------------------
<S>                <C>              <C>               <C>           <C>
Reserve Fund       5,000.00            0.00             0.00        5,000.00
Reserve Fund       2,500.00            0.00             0.00        2,500.00
Reserve Fund       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            8       3,407,672.19  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
                   --------------------                  ------------------                     ------------------
                   8       3,407,672.19                  0             0.00                     0             0.00

<CAPTION>
                 No. of     Principal                  No. of    Principal                 No. of    Principal
                 Loans       Balance                   Loans      Balance                  Loans      Balance
<S>            <C>          <C>          <C>         <C>         <C>         <C>         <C>         <C>
0-29 Days      0.000000%    0.000000%    0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days        0.515796%    0.641387%    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%
               ---------------------                 --------------------                --------------------
               0.515796%    0.641387%                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         8       3,407,672.19
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                  8       3,407,672.19

<CAPTION>
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance
<S>          <C>         <C>         <C>         <C>          <C>
0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.515796%    0.641387%
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%               0.515796%    0.641387%
</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  8,251.37
</TABLE>

<PAGE>

             Subordinated Level/Credit Enhancement/Class Percentage
                            and Prepayment Percentage

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------
            Original $       Original %     Current $        Current %       Current Class %          Prepayment %
           -------------    -----------   -------------     -----------      ---------------          ------------
<S>        <C>              <C>           <C>               <C>              <C>                      <C>
 Class A   20,625,608.17    3.75009211%   20,625,608.17     3.88213365%        96.117866%               0.000000%
Class X-2  20,625,608.17    3.75009211%   20,625,608.17     3.88213365%         0.000000%               0.000000%
Class B-1  11,550,608.17    2.10010024%   11,550,608.17     2.17404521%         1.708088%              43.998703%
Class B-2   6,875,608.17    1.25010442%    6,875,608.17     1.29412086%         0.879924%              22.665998%
Class B-3   4,400,608.17    0.80010664%    4,400,608.17     0.82827856%         0.465842%              11.999646%
Class B-4   2,750,608.17    0.50010811%    2,750,608.17     0.51771703%         0.310562%               7.999764%
Class B-5   1,925,608.17    0.35010885%    1,925,608.17     0.36243626%         0.155281%               3.999882%
Class B-6           0.00    0.00000000%            0.00     0.00000000%         0.362436%               9.336007%
</TABLE>

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

<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             6      2,365,172.19  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
                    -------------------                  ------------------                     ------------------
                    6      2,365,172.19                  0             0.00                      0          0.00

<CAPTION>
                  No. of     Principal                No. of     Principal                No. of     Principal
                   Loans      Balance                 Loans       Balance                 Loans       Balance
<S>             <C>          <C>         <C>         <C>         <C>         <C>         <C>         <C>
0-29 Days       0.000000%    0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days         0.546946%    0.624005%   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%
                ---------------------                --------------------                --------------------
                0.546946%    0.624005%               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         6       2,365,172.19
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                    6       2,365,172.19

<CAPTION>
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance
<S>          <C>         <C>         <C>         <C>          <C>
0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.546946%    0.624005%
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%               0.546946%    0.624005%
</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           2      1,042,500.00    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
                  --------------------                   ------------------                    -------------------
                  2      1,042,500.00                    0             0.00                    0              0.00

<CAPTION>
                No. of     Principal                 No. of    Principal                 No. of     Principal
                Loans       Balance                  Loans      Balance                  Loans       Balance
<S>           <C>          <C>         <C>         <C>         <C>         <C>         <C>          <C>
0-29 Days     0.000000%    0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days       0.440529%    0.684656%   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%
              ---------------------                --------------------                ---------------------
              0.440529%    0.684656%               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         2       1,042,500.00
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                     2       1,042,500.00

<CAPTION>
              No. of    Principal                 No. of     Principal
              Loans      Balance                  Loans       Balance
<S>          <C>        <C>         <C>         <C>          <C>
0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.440529%    0.684656%
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%               0.440529%    0.684656%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                   Mixed Arm
<S>                                                                 <C>
Weighted Average Gross Coupon                                             3.068851%
Weighted Average Net Coupon                                               2.692818%
Weighted Average Pass-Through Rate                                        2.682818%
Weighted Average Maturity (Stepdown Calculation)                               354

Beginning Scheduled Collateral Loan Count                                    1,571
Number of Loans Paid in Full                                                    20
Ending Scheduled Collateral Loan Count                                       1,551

Beginning Scheduled Collateral Balance                              541,570,003.28
Ending Scheduled Collateral Balance                                 531,295,675.40
Ending Actual Collateral Balance at 30-Sept-2003                    531,297,213.12

Monthly P&I Constant                                                  1,384,997.97
Special Servicing Fee                                                         0.00
Prepayment Penalties                                                          0.00
Realized Loss Amount                                                          0.00
Cumulative Realized Loss                                                      0.00

Class A Optimal Amount                                               11,438,994.02

Ending Scheduled Balance for Premium Loans                          531,295,675.40

Scheduled Principal                                                           0.00
Unscheduled Principal                                                10,274,327.88
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
MISCELLANEOUS REPORTING
<S>                                             <C>
Group 1 One Month Libor Loan Balance            103,065,576.25
Group 1 Six Month Libor Loan Balance            275,964,477.98
Group 2 Six Month Libor Loan Balance            152,265,621.17

Pro-Rata Senior Percent                              96.191516%
Group 1 Senior Percent                              100.000000%
Group 2 Senior Percent                              100.000000%
Group 1 Senior Prepayment Percent                   100.000000%
Group 2 Senior Prepayment Percent                   100.000000%
</TABLE>

<TABLE>
<CAPTION>
             GROUP                                1                 2                  TOTAL
<S>                                        <C>               <C>                   <C>
Collateral Description                        Mixed ARM        Mixed ARM             Mixed ARM
Weighted Average Coupon Rate                     3.043728          3.132367              3.068851
Weighted Average Net Rate                        2.667286          2.757367              2.692818
Pass-Through Rate                                2.657286          2.747367              2.682818
Weighted Average Maturity                             329               333                   354
Record Date                                    09/30/2003        09/30/2003            09/30/2003
Principal and Interest Constant                984,324.56        400,673.41          1,384,997.97
Beginning Loan Count                                1,114               457                 1,571
Loans Paid in Full                                     17                 3                    20
Ending Loan Count                                   1,097               454                 1,551
Beginning Scheduled Balance                388,073,288.86    155,496,714.42        541,570,003.28
Ending Scheduled Balance                   379,030,054.23    152,265,621.17        531,295,675.40
Scheduled Principal                                  0.00              0.00                  0.00
Unscheduled Principal                        9,043,234.63      1,231,093.25         10,274,327.88
Scheduled Interest                             984,324.56        400,673.41          1,384,997.97
Servicing Fee                                  121,739.04         47,967.73            169,706.77
Master Servicing Fee                             3,233.93          1,279.14              4,513.07
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                                   859,351.59        351,426.54          1,210,778.13
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>exv10wxay

 

Exhibit 10(a)

AMENDMENT TO THE NORWEST CORPORATION

DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS

      The Norwest Corporation Deferred Compensation Plan for Non-Employee
Directors (the “Plan”) is amended effective January 1, 2004 as follows:

      1.     The third sentence in paragraph 5(b) of the Plan is amended to read in
full as follows:

      “A participant’s election to defer is irrevocable, except as provided
hereinafter in paragraphs 5(d), 7(b) and 7(c).”

      2.     Paragraph 7(b) of the Plan is amended by the addition of the following
sentences to the end thereof to read in full as follows:

      ” Notwithstanding the foregoing, a participant, while still a member of
the Board, may elect one time to defer commencement of payment of a Deferred
Cash Account until March 1 of any year so long as the new payment commencement
date (i.e., March 1 of the year so elected) is at least 36 months beyond the
original March 1 payment commencement date. To be effective, the election must
be made by the participant at least 12 months prior to the original March 1
payment commencement date. A new payment commencement election shall not
change the form of payment (lump sum or installments) originally elected by the
participant.”

      3.     Paragraph 7(c) of the Plan is amended by the addition of the following
sentences to the end thereof to read in full as follows:

      ” Notwithstanding the foregoing, a participant, while still a member of
the Board, may elect one time to defer commencement of payment of a Phantom
Stock Account until March 1 of any year so long as the new payment commencement
date (i.e., March 1 of the year so elected) is at least 36 months beyond the
original March 1 payment commencement date. To be effective, the election must
be made by the participant at least 12 months prior to the original March 1
payment commencement date. Such an election shall also apply to amounts
credited to a participant’s Deferred Cash Account as a result of a subsequent
election by the participant under paragraph 5(d). A new payment commencement
election shall not change the form of payment (lump sum or installments)
originally elected by the participant.”

      4.     The Plan is amended by the addition of new paragraph 13 to read in full
as follows:

               13.     Severability. If any provision of the Plan is determined to be
illegal or invalid (in whole or in part) for any reason, or if legislative,
Internal Revenue

 

 

Service, Department of Labor, court or other action could in the opinion of the
Plan Administrator cause a provision to be interpreted so as to cause
participants in the Plan to be in constructive receipt of amounts in their
Deferred Cash or Phantom Stock Accounts for U.S. federal income tax purposes,
the Plan shall be construed and enforced as if the provision had not been
included in the Plan.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]