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: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 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>
   1-A1         81743RAA0         SEN               1.27875%             0.00              0.00             0.00
   1-A2         81743RAB8         SEN               3.45500%    32,416,097.72         93,331.35     2,552,788.45
    2A          81743RAC6         SEN               1.44875%   381,676,551.11        460,794.92     4,357,876.98
    3A          81743RAD4         SEN               2.97527%    37,954,852.90         94,104.80     1,522,001.24
    X-1         81743RAE2          IO               1.78469%             0.00         48,217.59             0.00
   X-2A         81743RAFf9         IO               0.99239%             0.00        129,460.42             0.00
   X-2B         81743AFG7          IO               1.11858%             0.00        209,870.56             0.00
    X-B         81743RAH5          IO               1.21478%             0.00          9,187.60             0.00
    A-R         81743RAJ1         SEN               5.37281%             0.00              0.00             0.00
    B-1         81743RAK8         SUB               1.82375%     9,069,000.00         13,782.99             0.00
    B-2         81743RAL6         SUB               3.03853%     5,505,000.00         13,939.25             0.00
    B-3         81743RAM4         SUB               3.03853%     3,886,000.00          9,839.77             0.00
    B-4         SMT0208B4         SUB               3.03853%     1,618,000.00          4,096.95             0.00
    B-5         SMT0208B5         SUB               3.03853%       970,000.00          2,456.14             0.00
    B-6         SMT0208B6         SUB               3.03853%     2,306,324.82          5,839.86             0.00
----------------------------------------------------------------------------------------------------------------
Totals                                                         475,401,826.55      1,094,922.20     8,432,666.67
----------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                                  Ending
                                 Current        Certificate          Total          Cumulative
   Class          CUSIP       Realized Loss       Balance         Distribution     Realized Loss
------------------------------------------------------------------------------------------------
<S>             <C>           <C>             <C>                 <C>              <C>
   1-A1         81743RAA0          0.00                 0.00              0.00          0.00
   1-A2         81743RAB8          0.00        29,863,309.27      2,646,119.80          0.00
    2A          81743RAC6          0.00       377,318,674.13      4,818,671.90          0.00
    3A          81743RAD4          0.00        36,432,851.66      1,616,106.04          0.00
    X-1         81743RAE2          0.00                 0.00         48,217.59          0.00
   X-2A         81743RAFf9         0.00                 0.00        129,460.42          0.00
   X-2B         81743AFG7          0.00                 0.00        209,870.56          0.00
    X-B         81743RAH5          0.00                 0.00          9,187.60          0.00
    A-R         81743RAJ1          0.00                 0.00              0.00          0.00
    B-1         81743RAK8          0.00         9,069,000.00         13,782.99          0.00
    B-2         81743RAL6          0.00         5,505,000.00         13,939.25          0.00
    B-3         81743RAM4          0.00         3,886,000.00          9,839.77          0.00
    B-4         SMT0208B4          0.00         1,618,000.00          4,096.95          0.00
    B-5         SMT0208B5          0.00           970,000.00          2,456.14          0.00
    B-6         SMT0208B6          0.00         2,306,324.82          5,839.86          0.00
------------------------------------------------------------------------------------------------
Totals                             0.00       466,969,159.88      9,527,588.87          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     32,416,097.72     0.00          2,552,788.45     0.00          0.00
    2A        463,097,000.00    381,676,551.11     0.00          4,357,876.98     0.00          0.00
    3A         49,973,000.00     37,954,852.90     0.00          1,522,001.24     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    475,401,826.55     0.00          8,432,666.67     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>
   1-A1                   0.00                  0.00        0.00000000                0.00
   1-A2           2,552,788.45         29,863,309.27        0.48583506        2,552,788.45
    2A            4,357,876.98        377,318,674.13        0.81477244        4,357,876.98
    3A            1,522,001.24         36,432,851.66        0.72905072        1,522,001.24
    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            8,432,666.67        466,969,159.88        0.72075107        8,432,666.67
--------------------------------------------------------------------------------------------
</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      527.36542136    0.00000000      41.53036458    0.00000000     0.00000000
    2A        463,097,000.00      824.18273301    0.00000000       9.41028981    0.00000000     0.00000000
    3A         49,973,000.00      759.50719188    0.00000000      30.45647129    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
----------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<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         41.53036458            485.83505678          0.48583506        41.53036458
    2A           9.41028981            814.77244320          0.81477244         9.41028981
    3A          30.45647129            729.05072059          0.72905072        30.45647129
    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        Current
              Original Face        Current          Notional          Accrued       Interest      Interest
  Class          Amount       Certificate Rate      Balance          Interest      Shortfall      Shortfall
-----------------------------------------------------------------------------------------------------------
<S>           <C>              <C>                <C>              <C>             <C>            <C>
  1-A1         50,000,000.00      1.27875%                  0.00           0.00      0.00            0.00
  1-A2         61,468,000.00      3.45500%         32,416,097.72      93,331.35      0.00            0.00
   2A         463,097,000.00      1.44875%        381,676,551.11     460,794.92      0.00            0.00
   3A          49,973,000.00      2.97527%         37,954,852.90      94,104.80      0.00            0.00
   X-1                  0.00      1.78469%         32,416,097.72      48,210.68      0.00            0.00
  X-2A                  0.00      0.99239%        156,538,224.55     129,455.14      0.00            0.00
  X-2B                  0.00      1.11858%        225,138,326.56     209,862.01      0.00            0.00
   X-B                  0.00      1.21478%          9,069,000.00       9,180.69      0.00            0.00
   A-R                100.00      5.37281%                  0.00           0.00      0.00            0.00
   B-1          9,069,000.00      1.82375%          9,069,000.00      13,782.99      0.00            0.00
   B-2          5,505,000.00      3.03853%          5,505,000.00      13,939.25      0.00            0.00
   B-3          3,886,000.00      3.03853%          3,886,000.00       9,839.77      0.00            0.00
   B-4          1,618,000.00      3.03853%          1,618,000.00       4,096.95      0.00            0.00
   B-5            970,000.00      3.03853%            970,000.00       2,456.14      0.00            0.00
   B-6          2,306,324.82      3.03853%          2,306,324.82       5,839.86      0.00            0.00
-----------------------------------------------------------------------------------------------------------
 Totals       647,892,424.82                                       1,094,894.55      0.00            0.00
-----------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                                         Remaining         Ending
             Non-Supported                                  Unpaid       Certificate/
               Interest    Realized    Total Interest     Interest       Notational
  Class       Shortfall     Loss (4)     Distribution     Shortfall        Balance
-------------------------------------------------------------------------------------
<S>          <C>           <C>         <C>               <C>           <C>
  1-A1           0.00         0.00              0.00        0.00                 0.00
  1-A2           0.00         0.00         93,331.35        0.00        29,863,309.27
   2A            0.00         0.00        460,794.92        0.00       377,318,674.13
   3A            0.00         0.00         94,104.80        0.00        36,432,851.66
   X-1           0.00         0.00         48,217.59        0.00        29,863,309.27
  X-2A           0.00         0.00        129,460.42        0.00       155,920,336.73
  X-2B           0.00         0.00        209,870.56        0.00       221,398,337.40
   X-B           0.00         0.00          9,187.60        0.00         9,069,000.00
   A-R           0.00         0.00              0.00        0.00                 0.00
   B-1           0.00         0.00         13,782.99        0.00         9,069,000.00
   B-2           0.00         0.00         13,939.25        0.00         5,505,000.00
   B-3           0.00         0.00          9,839.77        0.00         3,886,000.00
   B-4           0.00         0.00          4,096.95        0.00         1,618,000.00
   B-5           0.00         0.00          2,456.14        0.00           970,000.00
   B-6           0.00         0.00          5,839.86        0.00         2,306,324.82
-------------------------------------------------------------------------------------
 Totals          0.00         0.00      1,094,922.20        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       Current
 Class       Original Face   Certificate      Certificate/    Current Accrued    Interest     Interest
  (5)           Amount          Rate       Notional Balance      Interest        Shortfall    Shortfall
-------------------------------------------------------------------------------------------------------
<S>          <C>             <C>           <C>                <C>               <C>          <C>
  1-A1        50,000,000.00    1.27875%        0.00000000        0.00000000     0.00000000   0.00000000
  1-A2        61,468,000.00    3.45500%      527.36542136        1.51837297     0.00000000   0.00000000
   2A        463,097,000.00    1.44875%      824.18273301        0.99502895     0.00000000   0.00000000
   3A         49,973,000.00    2.97527%      759.50719188        1.88311288     0.00000000   0.00000000
   X-1                 0.00    1.78469%      290.81079521        0.43250691     0.00000000   0.00000000
  X-2A                 0.00    0.99239%      831.03785866        0.68725784     0.00000000   0.00000000
  X-2B                 0.00    1.11858%      819.48265199        0.76387827     0.00000000   0.00000000
   X-B                 0.00    1.21478%     1000.00000000        1.01231558     0.00000000   0.00000000
   A-R               100.00    5.37281%        0.00000000        0.00000000     0.00000000   0.00000000
   B-1         9,069,000.00    1.82375%     1000.00000000        1.51979160     0.00000000   0.00000000
   B-2         5,505,000.00    3.03853%     1000.00000000        2.53210718     0.00000000   0.00000000
   B-3         3,886,000.00    3.03853%     1000.00000000        2.53210757     0.00000000   0.00000000
   B-4         1,618,000.00    3.03853%     1000.00000000        2.53210754     0.00000000   0.00000000
   B-5           970,000.00    3.03853%     1000.00000000        2.53210309     0.00000000   0.00000000
   B-6         2,306,324.82    3.03853%     1000.00000000        2.53210647     0.00000000   0.00000000
-------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
               Non-
             Supported                                      Remaining
              Interest                                       Unpaid
 Class       Shortfall       Realized      Total Interest    Interest     Ending Certificate/
  (5)                        Loss (6)       Distribution    Shortfall     Notational Balance
---------------------------------------------------------------------------------------------
<S>          <C>            <C>            <C>             <C>            <C>
  1-A1       0.00000000     0.00000000       0.00000000    0.00000000          0.00000000
  1-A2       0.00000000     0.00000000       1.51837297    0.00000000        485.83505678
   2A        0.00000000     0.00000000       0.99502895    0.00000000        814.77244320
   3A        0.00000000     0.00000000       1.88311288    0.00000000        729.05072059
   X-1       0.00000000     0.00000000       0.43256890    0.00000000        267.90925889
  X-2A       0.00000000     0.00000000       0.68728587    0.00000000        827.75758528
  X-2B       0.00000000     0.00000000       0.76390940    0.00000000        805.86943792
   X-B       0.00000000     0.00000000       1.01307752    0.00000000       1000.00000000
   A-R       0.00000000     0.00000000       0.00000000    0.00000000          0.00000000
   B-1       0.00000000     0.00000000       1.51979160    0.00000000       1000.00000000
   B-2       0.00000000     0.00000000       2.53210718    0.00000000       1000.00000000
   B-3       0.00000000     0.00000000       2.53210757    0.00000000       1000.00000000
   B-4       0.00000000     0.00000000       2.53210754    0.00000000       1000.00000000
   B-5       0.00000000     0.00000000       2.53210309    0.00000000       1000.00000000
   B-6       0.00000000     0.00000000       2.53210647    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                              9,680,418.34
         Liquidations, Insurance Proceeds, Reserve Funds                        27.64
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                       0.00
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                         ------------
Total Deposits                                                           9,680,445.98

Withdrawals

         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            152,857.11
         Payment of Interest and Principal                               9,527,588.87
                                                                         ------------
Total Withdrawals (Pool Distribution Amount)                             9,680,445.98

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                                                    149,291.59
Master Servicing Fee                                                     3,565.52
Non-Supported Prepayment/Curtailment Interest Shortfall                      0.00
                                                                       ----------
Net Servicing Fee                                                      152,857.11
                                                                       ==========
</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            6.91             6.91        2,500.00
Class X-2 Basis Risk Reserve Fund           5,000.00           13.82            13.82        5,000.00
Class X-B Basis Risk Reserve Fund           2,500.00            6.91             6.91        2,500.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
               DELINQUENT                             BANKRUPTCY                          FORECLOSURE
----------------------------------------------------------------------------------------------------------------
                  No. of      Principal                 No. of    Principal                 No. of     Principal
                  Loans       Balance                   Loans      Balance                  Loans       Balance
<S>             <C>           <C>         <C>         <C>         <C>         <C>          <C>         <C>
0-29 Days           0           0.00      0-29 Days       0         0.00      0-29 Days       0           0.00
30 Days             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>

<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%  466,969,159.88    100.00000000%    94.998744%         0.000000%
Class 1-A-1  597,892.324.82   92.28265402%  466,969,159.88    100.00000000%     0.000000%         0.000000%
Class 1-A-2  536,424,324.82   82.79527654%  437,105,850.61     93.60486477%     6.395135%       127.870574%
Class 2A      73,327,324.82   11.31782407%   59,787,176.48     12.80323876%    80.801626%     1,615.626558%
Class 3A      23,354,324.82    3.60466089%   23,354,324.82      5.00125636%     7.801982%       156.000449%
Class X-1     23,354,324.82    3.60466089%   23,354,324.82      5.00125636%     0.000000%         0.000000%
Class X-2-A   23,354,324.82    3.60466089%   23,354,324.82      5.00125636%     0.000000%         0.000000%
Class X-2-B   23,354,324.82    3.60466089%   23,354,324.82      5.00125636%     0.000000%         0.000000%
Class B-1     14,285,324.82    2.20489147%   14,285,324.82      3.05915809%     1.942098%        38.832208%
Class B-2      8,780,324.82    1.35521338%    8,780,324.82      1.88027938%     1.178879%        23.571651%
Class B-3      4,894,324.82    0.75542245%    4,894,324.82      1.04810451%     0.832175%        16.639316%
Class B-4      3,276,324.82    0.50568963%    3,276,324.82      0.70161482%     0.346490%         6.928053%
Class B-5      2,306,324.82    0.35597342%    2,306,324.82      0.49389232%     0.207722%         4.153406%
Class B-6              0.00    0.00000000%            0.00      0.00000000%     0.493892%         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         0.02699215%
         Fraud    19,436,773.00        3.00000004%       10,357,716.80         2.21807299%
Special Hazard    15,500,000.00        2.39237247%       15,499,500.00         3.31916994%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1

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

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

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

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

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

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

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

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

                                     GROUP 2

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

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

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

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

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

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

<PAGE>

                                     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                                                                             3.149550%
Weighted Average Net Coupon                                                                               2.772711%
Weighted Average Pass-Through Rate                                                                        2.763711%
Weighted Average Maturity (Stepdown Calculation)                                                               314

Beginning Scheduled Collateral Loan Count                                                                    1,262
Number of Loans Paid in Full                                                                                    18
Ending Scheduled Collateral Loan Count                                                                       1,244

Beginning Scheduled Collateral Balance                                                              475,401,826.55
Ending Scheduled Collateral Balance                                                                 466,969,159.88
Ending Actual Collateral Balance at 31-Dec-2003                                                     466,965,225.09

Monthly P&I Constant                                                                                  1,247,751.66
Special Servicing Fee                                                                                         0.00
Prepayment Penalties                                                                                          0.00
Realization Loss Amount                                                                                       0.00
Cumulative Realized Loss                                                                                      0.00

Class A Optimal Amount                                                                                9,468,425.57

Ending Scheduled Balance for Premium Loans                                                          466,969,159.88

Scheduled Principal                                                                                           0.00
Unscheduled Principal                                                                                 8,432,666.67
</TABLE>

                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
One Month Libor Loan Balance                                     163,066,815.74
Six Month Libor Loan Balance - POOL 1                             34,026,592.16
Six Month Libor Loan Balance - POOL 2                            231,545,946.13
Six Month Libor Loan Balance - POOL 3                             38,329,805.85
Pro Rata Senior Percent                                               95.087456%
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                     5.498694          2.913223                3.359265             3.149550
Weighted Average Net Rate                        5.248694          2.524571                2.984265             2.772711
Pass-Through Rate                                5.239694          2.515571                2.975264             2.763711
Weighted Average Maturity                             338               305                     342                  314
Record Date                                    12/31/2003        12/31/2003              12/31/2003           12/31/2003
Principal and Interest Constant                167,615.68        968,575.32              111,560.06         1,247,751.66
Beginning Loan Count                                   74             1,069                     119                1,262
Loans Paid in Full                                      4                11                       3                   18
Ending Loan Count                                      70             1,058                     116                1,244
Beginning Scheduled Balance                 36,579,380.61    398,970,638.85           39,851,807.09       475,401,826.55
Ending Scheduled Balance                    34,026,592.16    394,612,761.87           38,329,805.85       466,969,159.88
Scheduled Principal                                  0.00              0.00                    0.00                 0.00
Unscheduled Principal                        2,552,788.45      4,357,876.98            1,522,001.24         8,432,666.67
Scheduled Interest                             167,615.68        968,575.32              111,560.66         1,247,751.66
Servicing Fee                                    7,620.70        129,217.20               12,453.69           149,291.59
Master Servicing Fee                               274.35          2,992.28                  298.89             3,565.52
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                                   159,720.63        836,365.84               98,808.08         1,094,894.55
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 2002-9
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                           Certificate                         Beginning
                              Class         Certificate       Certificate        Interest         Principal         Current
  Class        CUSIP       Description   Pass-Through Rate      Balance        Distribution     Distribution     Realized Loss
--------     ---------     -----------   -----------------   --------------    --------------   -------------    -------------
<S>          <C>           <C>           <C>                 <C>               <C>              <C>              <C>
    1A       81743SAA8         SEN            1.49875%       334,586,750.16       417,884.91     4,703,823.82         0.00
    2A       81743SAB6         SEN            2.73894%       119,924,368.06       273,721.01     1,033,980.31         0.00
   X-1A      81743SAC4          IO            0.94252%                 0.00       140,082.20             0.00         0.00
   X-1B      81743SAD2          IO            1.00919%                 0.00       131,407.82             0.00         0.00
    X-B      81743SAE0          IO            0.65541%                 0.00         4,220.43             0.00         0.00
    A-R      81743SAF7         SEN            3.15893%                 0.00             0.00             0.00         0.00
    B-1      81743SAG5         SUB            1.89875%         7,702,000.00        12,186.81             0.00         0.00
    B-2      81743SAH3         SUB            2.55416%         4,564,000.00         9,714.30             0.00         0.00
    B-3      81743SAJ9         SUB            2.55416%         3,424,000.00         7,287.86             0.00         0.00
    B-4      SMT0209B4         SUB            2.55416%         1,426,000.00         3,035.19             0.00         0.00
    B-5      SMR0209B5         SUB            2.55416%           856,000.00         1,821.96             0.00         0.00
    B-6      SMT0209B6         SUB            2.55416%         1,997,086.78         4,250.72             0.00         0.00
--------     ---------     -----------        -------        --------------    --------------   -------------    -------------
Totals                                                       474,480,205.00     1,005,613.21     5,737,804.13         0.00
--------     ---------     -----------        -------        --------------    --------------   -------------    -------------

<CAPTION>
                                Ending
                              Certificate          Total          Cumulative
  Class        CUSIP            Balance         Distribution     Realized Loss
--------     ---------      --------------      ------------     -------------
<S>          <C>            <C>                 <C>              <C>
    1A       81743SAA8      329,882,926.34      5,121,708.73         0.00
    2A       81743SAB6      118,890,387.75      1,307,701.32         0.00
   X-1A      81743SAC4                0.00        140,082.20         0.00
   X-1B      81743SAD2                0.00        131,407.82         0.00
    X-B      81743SAE0                0.00          4,220.43         0.00
    A-R      81743SAF7                0.00              0.00         0.00
    B-1      81743SAG5        7,702,000.00         12,186.81         0.00
    B-2      81743SAH3        4,564,000.00          9,714.30         0.00
    B-3      81743SAJ9        3,424,000.00          7,287.86         0.00
    B-4      SMT0209B4        1,426,000.00          3,035.19         0.00
    B-5      SMR0209B5          856,000.00          1,821.96         0.00
    B-6      SMT0209B6        1,997,086.78          4,250.72         0.00
--------     ---------      --------------      ------------     -------------
Totals                      468,742,400.87      6,743,417.34         0.00
--------     ---------      --------------      ------------     -------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                  Beginning        Scheduled     Unscheduled
              Original Face      Certificate       Principal      Principal                    Realized   Total Principal
 Class            Amount           Balance       Distribution    Distribution    Accretion     Loss (1)       Reduction
------        --------------    --------------   ------------    ------------    ---------     --------   ---------------
<S>           <C>               <C>              <C>             <C>             <C>           <C>        <C>
  1A          381,698,000.00    334,586,750.16       0.00        4,703,823.82       0.00         0.00       4,703,823.82
  2A          168,875,000.00    119,924,368.06       0.00        1,033,980.31       0.00         0.00       1,033,980.31
 X-1A                   0.00              0.00       0.00                0.00       0.00         0.00               0.00
 X-1B                   0.00              0.00       0.00                0.00       0.00         0.00               0.00
  X-B                   0.00              0.00       0.00                0.00       0.00         0.00               0.00
  A-R                 100.00              0.00       0.00                0.00       0.00         0.00               0.00
  B-1           7,702,000.00      7,702,000.00       0.00                0.00       0.00         0.00               0.00
  B-2           4,564,000.00      4,564,000.00       0.00                0.00       0.00         0.00               0.00
  B-3           3,424,000.00      3,424,000.00       0.00                0.00       0.00         0.00               0.00
  B-4           1,426,000.00      1,426,000.00       0.00                0.00       0.00         0.00               0.00
  B-5             856,000.00        856,000.00       0.00                0.00       0.00         0.00               0.00
  B-6           1,997,086.78      1,997,086.78       0.00                0.00       0.00         0.00               0.00
------        --------------    --------------   ------------    ------------    ---------     --------   ---------------
Totals        570,533,186.78    474,480,205.00       0.00        5,737,804.13       0.00         0.00       5,737,804.13
------        --------------    --------------   ------------    ------------    ---------     --------   ---------------

<CAPTION>
              Ending Certificate   Ending Certificate    Total Principal
 Class             Balance             Percentage          Distribution
------        ------------------   ------------------    ---------------
<S>           <C>                  <C>                   <C>
  1A            329,882,926.34         0.86427150          4,703,823.82
  2A            118,890,387.75         0.70401414          1,033,980.31
 X-1A                     0.00         0.00000000                  0.00
 X-1B                     0.00         0.00000000                  0.00
  X-B                     0.00         0.00000000                  0.00
  A-R                     0.00         0.00000000                  0.00
  B-1             7,702,000.00         1.00000000                  0.00
  B-2             4,564,000.00         1.00000000                  0.00
  B-3             3,424,000.00         1.00000000                  0.00
  B-4             1,426,000.00         1.00000000                  0.00
  B-5               856,000.00         1.00000000                  0.00
  B-6             1,997,086.78         1.00000000                  0.00
------        ------------------   ------------------    ---------------
Totals          468,742,400.87         0.82158656          5,737,804.13
------        ------------------   ------------------    ---------------
</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     Total Principal
Class          Amount            Balance       Distribution    Distribution    Accretion      Loss (3)        Reduction
-----      --------------     -------------    ------------    ------------   ----------     ----------    ---------------
<S>        <C>                <C>              <C>             <C>            <C>            <C>           <C>
 1A        381,698,000.00      876.59521275     0.00000000     12.32370810    0.00000000     0.00000000      12.32370810
 2A        168,875,000.00      710.13689451     0.00000000      6.12275535    0.00000000     0.00000000       6.12275535
X-1A                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
X-1B                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
 X-B                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
 A-R               100.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
 B-1         7,702,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
 B-2         4,564,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
 B-3         3,424,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
 B-4         1,426,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
 B-5           856,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
 B-6         1,997,086.78     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000

<CAPTION>
           Ending Certificate   Ending Certificate  Total Principal
Class           Balance             Percentage        Distribution
-----      ------------------   ------------------  ---------------
<S>        <C>                  <C>                 <C>
 1A           864.27150465          0.86427150        12.32370810
 2A           704.01413916          0.70401414         6.12275535
X-1A            0.00000000          0.00000000         0.00000000
X-1B            0.00000000          0.00000000         0.00000000
 X-B            0.00000000          0.00000000         0.00000000
 A-R            0.00000000          0.00000000         0.00000000
 B-1         1000.00000000          1.00000000         0.00000000
 B-2         1000.00000000          1.00000000         0.00000000
 B-3         1000.00000000          1.00000000         0.00000000
 B-4         1000.00000000          1.00000000         0.00000000
 B-5         1000.00000000          1.00000000         0.00000000
 B-6         1000.00000000          1.00000000         0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                 Beginning                     Payment of                     Non-
                                                Certificate/      Current        Unpaid       Current      Supported
            Original Face       Current          Notional         Accrued       Interest      Interest     Interest
 Class         Amount       Certificate Rate      Balance         Interest      Shortfall     Shortfall    Shortfall
------     --------------   ----------------   --------------   ------------   ----------     ---------    ---------
<S>        <C>              <C>                <C>              <C>            <C>            <C>          <C>
  1A       381,698,000.00       1.49875%       334,586,750.16     417,884.91       0.00          0.00         0.00
  2A       168,875,000.00       2.73894%       119,924,368.06     273,721.01       0.00          0.00         0.00
 X-1A                0.00       0.94252%       178,341,526.65     140,075.07       0.00          0.00         0.00
 X-1B                0.00       1.00919%       156,245,223.51     131,401.13       0.00          0.00         0.00
  X-B                0.00       0.65541%         7,702,000.00       4,206.61       0.00          0.00         0.00
  A-R              100.00       3.15893%                 0.00           0.00       0.00          0.00         0.00
  B-1        7,702,000.00       1.89875%         7,702,000.00      12,186.81       0.00          0.00         0.00
  B-2        4,564,000.00       2.55416%         4,564,000.00       9,714.30       0.00          0.00         0.00
  B-3        3,424,000.00       2.55416%         3,424,000.00       7,287.86       0.00          0.00         0.00
  B-4        1,426,000.00       2.55416%         1,426,000.00       3,035.19       0.00          0.00         0.00
  B-5          856,000.00       2.55416%           856,000.00       1,821.96       0.00          0.00         0.00
  B-6        1,997,086.78       2.55416%         1,997,086.78       4,250.72       0.00          0.00         0.00
------     --------------       -------        --------------   ------------   ----------     ---------    ---------
Totals     570,533,186.78                                       1,005,585.57       0.00          0.00         0.00
------     --------------       -------        --------------   ------------   ----------     ---------    ---------

<CAPTION>
                                       Remaining       Ending
                                        Unpaid      Certificate/
           Realized  Total Interest     Interest     Notational
 Class     Loss (4)   Distribution     Shortfall      Balance
------     --------  --------------    ---------   --------------
<S>        <C>       <C>               <C>         <C>
  1A         0.00        417,884.91       0.00     329,882,926.34
  2A         0.00        273,721.01       0.00     118,890,387.75
 X-1A        0.00        140,082.20       0.00     175,600,751.69
 X-1B        0.00        131,407.82       0.00     154,282,174.65
  X-B        0.00          4,220.43       0.00       7,702,000.00
  A-R        0.00              0.00       0.00               0.00
  B-1        0.00         12,186.81       0.00       7,702,000.00
  B-2        0.00          9,714.30       0.00       4,564,000.00
  B-3        0.00          7,287.86       0.00       3,424,000.00
  B-4        0.00          3,035.19       0.00       1,426,000.00
  B-5        0.00          1,821.96       0.00         856,000.00
  B-6        0.00          4,250.72       0.00       1,997,086.78
------     --------  --------------    ---------   --------------
Totals       0.00      1,005,613.12       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         Current        Unpaid        Current       Supported
             Original Face    Certificate     Certificate/       Accrued       Interest       Interest       Interest
Class (5)        Amount          Rate       Notional Balance    Interest      Shortfall      Shortfall      Shortfall
---------    --------------   -----------   ----------------   ----------    ----------      ----------    ----------
<S>          <C>              <C>           <C>                <C>           <C>             <C>           <C>
   1A        381,698,000.00    1.49875%       876.59521275     1.09483090    0.00000000      0.00000000    0.00000000
   2A        168,875,000.00    2.73894%       710.13689451     1.62084980    0.00000000      0.00000000    0.00000000
  X-1A                 0.00    0.94252%       875.22517199     0.68742950    0.00000000      0.00000000    0.00000000
  X-1B                 0.00    1.00919%       878.16425694     0.73852994    0.00000000      0.00000000    0.00000000
   X-B                 0.00    0.65541%      1000.00000000     0.54617112    0.00000000      0.00000000    0.00000000
   A-R               100.00    3.15893%         0.00000000     0.00000000    0.00000000      0.00000000    0.00000000
   B-1         7,702,000.00    1.89875%      1000.00000000     1.58229161    0.00000000      0.00000000    0.00000000
   B-2         4,564,000.00    2.55416%      1000.00000000     2.12846188    0.00000000      0.00000000    0.00000000
   B-3         3,424,000.00    2.55416%      1000.00000000     2.12846379    0.00000000      0.00000000    0.00000000
   B-4         1,426,000.00    2.55416%      1000.00000000     2.12846424    0.00000000      0.00000000    0.00000000
   B-5           856,000.00    2.55416%      1000.00000000     2.12845794    0.00000000      0.00000000    0.00000000
   B-6         1,997,086.78    2.55416%      1000.00000000     2.12846034    0.00000000      0.00000000    0.00000000

<CAPTION>
                                              Remaining
                                               Unpaid             Ending
              Realized    Total Interest      Interest         Certificate/
Class (5)     Loss (6)     Distribution       Shortfall     Notational Balance
---------    ----------   --------------     ----------     ------------------
<S>          <C>          <C>                <C>            <C>
   1A        0.00000000     1.09483090       0.00000000        864.27150465
   2A        0.00000000     1.62084980       0.00000000        704.01413916
  X-1A       0.00000000     0.68746450       0.00000000        861.77460172
  X-1B       0.00000000     0.73856754       0.00000000        867.13109186
   X-B       0.00000000     0.54796546       0.00000000       1000.00000000
   A-R       0.00000000     0.00000000       0.00000000          0.00000000
   B-1       0.00000000     1.58229161       0.00000000       1000.00000000
   B-2       0.00000000     2.12846188       0.00000000       1000.00000000
   B-3       0.00000000     2.12846379       0.00000000       1000.00000000
   B-4       0.00000000     2.12846424       0.00000000       1000.00000000
   B-5       0.00000000     2.12845794       0.00000000       1000.00000000
   B-6       0.00000000     2.12846034       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                              6,895,442.13
         Liquidations, Insurance Proceeds, Reserve Funds                        27.64
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                       0.00
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                         ------------
Total Deposits                                                           6,895,469.77

Withdrawals
         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            152,052.43
         Payment of Interest and Principal                               6,743,417.34
                                                                         ------------
Total Withdrawals (Pool Distribution Amount)                             6,895,469.77

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                                                        148,493.83
Master Servicing Fee                                                         3,558.60
Supported Prepayment/Curtailment Interest Shortfall                              0.00
                                                                           ----------
Net Servicing Fee                                                          152,052.43
                                                                           ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                         Beginning          Current          Current       Ending
        Account Type                      Balance         Withdrawals       Deposits       Balance
        ------------                      -------         -----------       --------       -------
<S>                                      <C>              <C>               <C>           <C>
X-1 Basis Risk Reserve Fund              5,000.00            13.82            13.82       5,000.00
X-2 Basis Risk Reserve Fund              5,000.00            13.82            13.82       5,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
               DELINQUENT                             BANKRUPTCY                          FORECLOSURE
--------------------------------------    ---------------------------------   ---------------------------------
                No. of       Principal                 No. of     Principal                No. of     Principal
                Loans         Balance                  Loans       Balance                 Loans       Balance
<S>           <C>            <C>          <C>        <C>          <C>         <C>        <C>          <C>
0-29 Days         0             0.00      0-29 Days      0           0.00     0-29 Days      0           0.00
30 Days           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>

<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     570,533,086.78    99.99998247%    468,742,400.87   100.00000000%       95.739859%          0.000000%
  Class 1A    188,844,086.78    33.09957968%    138,859,474.53    29.62383481%       70.376165%      1,651.968014%
  Class 2A     19,969,086.78     3.50007453%     19,969,086.78     4.26014091%       25.363694%        595.372182%
Class X-1-A    19,969,086.78     3.50007453%     19,969,086.78     4.26014091%        0.000000%          0.000000%
Class X-1-B    19,969,086.78     3.50007453%     19,969,086.78     4.26014091%        0.000000%          0.000000%
 Class B-1     12,267,086.78     2.15010924%     12,267,086.78     2.61702094%        1.643120%         38.569616%
 Class B-2      7,703,086.78     1.35015578%      7,703,086.78     1.64335182%        0.973669%         22.855327%
 Class B-3      4,279,086.78     0.75001540%      4,279,086.78     0.91288665%        0.730465%         17.146503%
 Class B-4      2,853,086.78     0.50007376%      2,853,086.78     0.60866838%        0.304218%          7.141038%
 Class B-5      1,997,086.78     0.35003867%      1,997,086.78     0.42605209%        0.182616%          4.286626%
 Class B-6              0.00     0.00000000%              0.00     0.00000000%        0.426052%         10.000892%
</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       100,000.00        0.01752746%          100,000.00         0.02133368%
         Fraud    17,115,996.00        3.00000007%        9,879,946.13         2.10775601%
Special Hazard     6,000,000.00        1.05164785%        5,997,988.72         1.27959167%
</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
---------------------------------   ----------------------------------
              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>

                                     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>

                              COLLATERAL STATEMENT

<TABLE>
<S>                                                           <C>
Collateral Description                                             Mixed Arm
Weighted Average Gross Coupon                                       2.927763%
Weighted Average Net Coupon                                         2.552210%
Weighted Average Pass-Through Rate                                  2.543210%
Weighted Average Maturity (Stepdown Calculation)                         316

Beginning Scheduled Collateral Loan Count                              1,301
Number of Loans Paid in Full                                              10
Ending Scheduled Collateral Loan Count                                 1,291

Beginning Scheduled Collateral Balance                        474,480,205.01
Ending Scheduled Collateral Balance                           468,742,400.88
Ending Actual Collateral Balance at 31-Dec-2003               468,741,474.46

Monthly P&I Constant                                            1,157,638.00
Special Servicing Fee                                                   0.00
Prepayment Penalties                                                    0.00
Realization Loss Amount                                                 0.00
Cumulative Realized Loss                                                0.00

Class A Optimal Amount                                          6,700,886.26

Ending Scheduled Balance for Premium Loans                    468,742,400.88

Scheduled Principal                                                     0.00
Unscheduled Principal                                           5,737,804.13
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
Pro Rata Senior Percent                                            95.791376%
Senior Percentage                                                 100.000000%
Senior Prepay Percentage                                          100.000000%
Subordinate Percentage                                              0.000000%
Subordinate Prepayment Percentage                                   0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                  1                 2                 TOTAL
<S>                                        <C>                <C>                 <C>
                                                Mixed ARM        6 Month ARM          Mixed ARM
Collateral Description
Weighted Average Coupon Rate                     2.857157           3.122936            2.927763
Weighted Average Net Rate                        2.481403           2.747936            2.552210
Pass-Through Rate                                2.472403           2.738936            2.543210
Weighted Average Maturity                             300                342                 316
Record Date                                    12/31/2003         12/31/2003          12/31/2003
Principal and Interest Constant                829,601.20         328,036.80        1,157,638.00
Beginning Loan Count                                  920                381               1,301
Loans Paid in Full                                      7                  3                  10
Ending Loan Count                                     913                378               1,291
Beginning Scheduled Balance                348,430,836.95     126,049,368.06      474,480,205.01
Ending Scheduled Balance                   343,727,013.13     125,015,387.75      468,742,400.88
Scheduled Principal                                  0.00               0.00                0.00
Unscheduled Principal                        4,703,823.82       1,033,980.31        5,737,804.13
Scheduled Interest                             829,601.20         328,036.80        1,157,638.00
Servicing Fee                                  109,103.40          39,390.43          148,493.83
Master Servicing Fee                             2,613.23             945.37            3,558.60
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                                   717,884.57         287,701.00        1,005,585.57
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>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                            <C>
Group 1
One Month LIBOR Loans                                          182,970,129.89
Six Month LIBOR Loans                                          160,756,883.24
</TABLE>

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