Document:

<PAGE>
                                                                    EXHIBIT 10.5

                     PROPERTY ACQUISITION SERVICES AGREEMENT

         This Agreement, entered into as of September 30, 2003, by and between
Gen-Net Lease Income Trust, Inc., a Michigan corporation ("Gen-Net"), and
Genesis Financial Group, Inc., a Michigan corporation ("Genesis").

         WHEREAS, Gen-Net is a publicly registered real estate investment trust
that specializes in acquiring and holding government leased properties as well
as other single user properties net leased to credit-worthy tenants;

         WHEREAS, Gen-Net is actively engaged in raising capital to acquire
properties as described in its publicly registered prospectus(es) ("Qualified
Properties");

         WHEREAS, Gen-Net utilizes the services of property acquisition
specialists in order to identify Qualified Properties and to assist in
negotiating acceptable acquisition terms with potential sellers;

         WHEREAS, Genesis has approximately ten years of experience in acquiring
properties similar to the Qualified Properties and has developed close
relationships with developers and real estate brokers engaged in marketing such
properties;

         WHEREAS, the Gen-Net Board of Directors has unanimously determined that
it would considerably benefit Gen-Net's interests to engage Genesis as a
property acquisition agent in connection with its property acquisition program,
as to be described in the prospectus that will be part of a registration
statement of Gen-Net's successor to be filed with the Securities and Exchange
Commission (the "Secondary Offering"); and

         WHEREAS, Genesis has the knowledge, experience and resources to perform
these property acquisition services on behalf of Gen-Net.

         NOW, THEREFORE, the parties agree as follows:

         1. Gen-Net hereby engages Genesis on a non-exclusive basis to perform
         property acquisition services by identifying Qualified Properties,
         assisting Gen-Net management in negotiating acquisition terms
         acceptable to Gen-Net with respect to the Qualified Properties,
         coordinating acquisition financing in conjunction with other Gen-Net
         service providers and closing the acquisition and financing. The term
         of this engagement shall commence with the completion of the Secondary
         Offering and shall terminate upon the earlier of one year from the date
         of the Secondary Offering or applying the last of the net proceeds from
         the Secondary Offering scheduled to be used to acquire Qualified
         Properties for that

<PAGE>

         purpose (recognizing that there may be remaining some portion of the
         scheduled net proceeds that are not sufficient enough to permit another
         Qualified Property acquisition). By mutual agreement between the
         parties, Gen-Net may engage Genesis to provide acquisition services in
         follow-on offerings, if any, on the same or similar terms and
         conditions as contained herein.

         2. Genesis shall first offer, to the exclusion of all other, all those
         Qualified Properties identified by it or its subagents to Gen-Net.
         Gen-Net shall identify to Genesis within ten (10) business days those
         Qualified Properties in which Gen-Net has no interest.

         3. Genesis shall be deemed to have earned and be entitled to its fee,
         described below, as to each acquisition of Qualified Property by
         Gen-Net in which:

         a)       Genesis performs services described in paragraph 1 and 2
                  above; and

         b)       the Qualified Property acquired was purchased from a seller or
                  through a real estate broker listed as a "registered seller or
                  broker" on a list of such parties agreed to between Genesis
                  and Gen-Net, which shall be attached to this Agreement and
                  incorporated herein by reference. It is agreed and understood
                  that the parties may, by further written and dated
                  agreement(s), amend the list of registered sellers and brokers
                  at any time during the course of this engagement.

         4. The parties agree that Gen-Net shall pay to Genesis at each closing
         of a Qualified Property purchased by Gen-Net a sum in cash equal to one
         percent (1%) of the total purchase price of the Qualified Property.
         Further, is understood by the parties that on occasion Genesis may
         participate in a portion of fees paid the listing brokers or finders by
         the seller of a Qualified Property. Genesis shall make a full
         disclosure of any additional compensation paid to Genesis and shall
         reduce the fee cost to Gen-Net by 50% thereof.

         5. Gen-Net shall reimburse Genesis for reasonable expenses incurred in
         connection with Genesis' performance of this engagement including but
         not limited to travel, meals, entertainment and related miscellaneous
         expenses. Such reimbursable expenses shall not exceed 2.0% of the
         aggregate acquisition fee then earned, paid up to date at the closing
         of each Qualified Property.

         6. This Agreement cannot be assigned by either party without the
         express prior written consent of the other party. This Agreement shall
         continue to apply in full force and effect as to any corporate
         successor to Gen-Net. Further, this Agreement supercedes and replaces
         those portion of a certain agreement by and

                                       2
<PAGE>

         between the parties for professional services, entitled Second Amended
         and Restated Omnibus Services Agreement effective June 2, 2003
         (Services Agreement), relating to the Property Acquisition Services. It
         is understood by the parties that the remainder of the Services
         Agreement shall be terminated in accordance with the terms thereof upon
         successful completion of the Secondary Offering.

         7. For purposes of this Agreement, Gen-Net shall also mean its
         successor entity, Government Properties Trust, Inc., as the context may
         require.

         8. This Agreement shall be construed and enforced under the laws of the
         State of Michigan.

         Effective as of the date set forth above.

                                            GEN-NET LEASE INCOME TRUST, INC.

Attest: /s/  Nancy K. Johnson               By: /s/ Thomas D. Peschio
        ---------------------------             --------------------------------
                                                President

                                            GENESIS FINANCIAL GROUP, INC.

Attest: /s/ Asha N. Boddu                       By: /s/ D. James Barton
        ---------------------------                 ----------------------------
                                                President

                                       3<PAGE>
                                                                               .
                                                                               .
                                                                               .

                                  EXHIBIT 10.1

<TABLE>
<CAPTION>
CONTACTS
------------------------------------------------------------------------------------------

<S>                            <C>
          Administrator:             Kumar X. Khambhaita
          Direct Phone No:           (714) 247-6327
          Address:                   Deutsche Bank
                                     1761 E. St. Andrew Place
                                     Santa Ana, CA 92705

          Web Site:            http://www-apps.gis.deutsche-bank.com/invr
          Factor Information:        (800) 735-7777
          Main Phone No:             (714) 247-6000

------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ISSUANCE INFORMATION
------------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>                                              <C>                        <C>

       Seller:                 Redwood Trust                                    Cut-Off Date:              April 1, 2002
       Certificate Insurer:                                                     Closing Date:              April 26, 2002
       Servicer(s):            Cendant Mortgage Corporation                     First Payment Date:        May 20, 2002
                               Morgan Stanley Dean Witter

       Underwriter(s):         Greenwich Capital Markets, Inc.                  Distribution Date:         September 19, 2003
                               Bear, Stearns & Co. Inc.                         Record Date:               September 18, 2003
                                                                                                           August 29, 2003

------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                            SEQUOIA MORTGAGE TRUST 6
                          COLLATERALIZED MORTGAGE BONDS
             BOND PAYMENT REPORT FOR SEPTEMBER 19, 2003 DISTRIBUTION

<TABLE>
<CAPTION>
Distribution in Dollars - Current Period
--------------------------------------------------------------------------------------------------------------------------------
                                                            Prior
                 Class            Original                Principal                                                   Total
    Class        Type            Face Value                Balance             Interest          Principal        Distribution
--------------------------------------------------------------------------------------------------------------------------------
                                                             (1)                  (2)               (3)            (4)=(2)+(3)
--------------------------------------------------------------------------------------------------------------------------------
<S>            <C>        <C>                       <C>                    <C>                <C>               <C>

    LT-A                            496,378,000.00     423,616,677.52      875,406.79         4,935,256.36      5,810,663.15
    LT-A2                                   100.00                -               -                    -                 -
    LT-X                                    100.00                -               -                    -                 -
   LT-B-1                             5,915,000.00       5,915,000.00       12,223.39                  -           12,223.39
   LT-B-2                             5,143,000.00       5,143,000.00       10,628.04                  -           10,628.04
--------------------------------------------------------------------------------------------------------------------------------
   LT-B-3                             2,315,000.00       2,315,000.00        4,783.96                  -            4,783.96
   LT-B-4                             1,534,000.00       1,534,000.00        3,170.02                  -            3,170.02
   LT-B-5                             1,028,000.00       1,028,000.00        2,124.37                  -            2,124.37
   LT-B-6                             2,068,996.83       2,068,996.83        4,275.60                  -            4,275.60
    LT-R                                         -                -               -                    -                 -
--------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------
    Total                           514,382,196.83     441,620,674.35      912,612.17         4,935,256.36      5,847,868.53
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Distribution in Dollars - Current Period
------------------------------------------------------------------
                                                    Current
                Realized         Deferred          Principal
    Class        Losses          Interest           Balance
------------------------------------------------------------------
                   (5)             (6)         (7)=(1)-(3)-(5)+(6)
------------------------------------------------------------------
<S>           <C>            <C>               <C>

    LT-A               -              -          418,681,421.16
    LT-A2              -              -                     -
    LT-X               -              -                     -
   LT-B-1              -              -            5,915,000.00
   LT-B-2              -              -            5,143,000.00
------------------------------------------------------------------
   LT-B-3              -              -            2,315,000.00
   LT-B-4              -              -            1,534,000.00
   LT-B-5              -              -            1,028,000.00
   LT-B-6              -              -            2,068,996.83
    LT-R               -              -                     -
------------------------------------------------------------------

------------------------------------------------------------------
    Total              -              -          436,685,417.99
------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Accrual Detail                             Current Period Factor Information per $1,000 of Original Face
-------------------------------------------------------------------------------------------------------------------------------
                                                                            Orig. Principal        Prior
                Period     Period                                           (with Notional)      Principal
    Class      Starting    Ending       Method              Cusip               Balance           Balance           Interest
-------------------------------------------------------------------------------------------------------------------------------
                                                                                                    (1)                (2)
-------------------------------------------------------------------------------------------------------------------------------
<S>            <C>        <C>       <C>             <C>                    <C>                <C>               <C>

    LT-A                               A-30/360                               496,378,000.00      853.415497        1.763589
    LT-A2                              A-30/360                                       100.00              -               -
    LT-X                               A-30/360                                       100.00              -               -
   LT-B-1                              A-30/360                                 5,915,000.00    1,000.000000        2.066507
   LT-B-2                              A-30/360                                 5,143,000.00    1,000.000000        2.066506
-------------------------------------------------------------------------------------------------------------------------------
   LT-B-3                              A-30/360                                 2,315,000.00    1,000.000000        2.066505
   LT-B-4                              A-30/360                                 1,534,000.00    1,000.000000        2.066506
   LT-B-5                              A-30/360                                 1,028,000.00    1,000.000000        2.066508
   LT-B-6                              A-30/360                                 2,068,996.83    1,000.000000        2.066509
    LT-R                               A-30/360                                            -              -               -
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Accrual Detail
---------------------------------------------------------------------
                                                       Current
                                     Total            Principal
    Class          Principal      Distribution         Balance
---------------------------------------------------------------------
                      (3)         (4)=(2)+(3)            (5)
---------------------------------------------------------------------
<S>              <C>            <C>               <C>

    LT-A             9.942536       11.706125          843.472960
    LT-A2                  -              -                   -
    LT-X                   -              -                   -
   LT-B-1                  -         2.066507        1,000.000000
   LT-B-2                  -         2.066506        1,000.000000
---------------------------------------------------------------------
   LT-B-3                  -         2.066505        1,000.000000
   LT-B-4                  -         2.066506        1,000.000000
   LT-B-5                  -         2.066508        1,000.000000
   LT-B-6                  -         2.066509        1,000.000000
    LT-R                   -              -                   -
---------------------------------------------------------------------
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
Distribution in Dollars - to Date
-----------------------------------------------------------------------------------------------------------------------------------

                   Original                             Unscheduled          Scheduled            Total              Total
    Class         Face Value          Interest           Principal           Principal          Principal         Distribution
-----------------------------------------------------------------------------------------------------------------------------------
                      (1)                (2)                (3)                 (4)            (5)=(3)+(4)        (6)=(2)+(5)
-----------------------------------------------------------------------------------------------------------------------------------
<S>             <C>                 <C>                 <C>                 <C>               <C>                <C>

    LT-A          496,378,000.00      19,745,594.73       77,696,578.84                   -     77,696,578.84       97,442,173.57
    LT-A2                 100.00               0.27              100.00                   -            100.00              100.27
    LT-X                  100.00                  -              100.00                   -            100.00              100.00
   LT-B-1           5,915,000.00         252,178.12                   -                   -                 -          252,178.12
   LT-B-2           5,143,000.00         219,264.93                   -                   -                 -          219,264.93
   LT-B-3           2,315,000.00          98,696.93                   -                   -                 -           98,696.93
   LT-B-4           1,534,000.00          65,400.01                   -                   -                 -           65,400.01
   LT-B-5           1,028,000.00          43,827.42                   -                   -                 -           43,827.42
   LT-B-6           2,068,996.83          88,208.93                   -                   -                 -           88,208.93
    LT-R                       -                  -                   -                   -                 -                   -

-----------------------------------------------------------------------------------------------------------------------------------
    Total         514,382,196.83      20,513,171.34       77,696,778.84                   -     77,696,778.84       98,209,950.18
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Distribution in Dollars - to Date
-----------------------------------------------------------------
                                                  Current
                Realized        Deferred         Principal
    Class        Losses         Interest          Balance
-----------------------------------------------------------------
                  (7)             (8)        (9)=(1)-(5)-(7)+(8)
-----------------------------------------------------------------
<S>            <C>             <C>           <C>

    LT-A                  -               -      418,681,421.16
    LT-A2                 -               -                   -
    LT-X                  -               -                   -
   LT-B-1                 -               -        5,915,000.00
   LT-B-2                 -               -        5,143,000.00
   LT-B-3                 -               -        2,315,000.00
   LT-B-4                 -               -        1,534,000.00
   LT-B-5                 -               -        1,028,000.00
   LT-B-6                 -               -        2,068,996.83
    LT-R                  -               -                   -

-----------------------------------------------------------------
    Total                 -               -      436,685,417.99
-----------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Detail
----------------------------------------------------------------------------------------------------------------------------------
                   Pass-         Prior Principal                                Non-              Prior           Unscheduled
                  Through        (with Notional)          Accrued            Supported            Unpaid            Interest
    Class           Rate             Balance              Interest          Interest SF          Interest         Adjustments
----------------------------------------------------------------------------------------------------------------------------------
                                                            (1)                 (2)                (3)                (4)
----------------------------------------------------------------------------------------------------------------------------------
<S>            <C>             <C>                   <C>                 <C>                 <C>               <C>

    LT-A          2.47981%           423,616,677.52          875,406.79                   -                 -                   -
    LT-A2         2.47981%                        -                   -                   -                 -                   -
    LT-X                                          -                   -                   -                 -                   -
   LT-B-1         2.47981%             5,915,000.00           12,223.39                   -                 -                   -
   LT-B-2         2.47981%             5,143,000.00           10,628.04                   -                 -                   -
----------------------------------------------------------------------------------------------------------------------------------
   LT-B-3         2.47981%             2,315,000.00            4,783.96                   -                 -                   -
   LT-B-4         2.47981%             1,534,000.00            3,170.02                   -                 -                   -
   LT-B-5         2.47981%             1,028,000.00            2,124.37                   -                 -                   -
   LT-B-6         2.47981%             2,068,996.83            4,275.60                   -                 -                   -
    LT-R                                          -                   -                   -                 -                   -
----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------
    Total                            441,620,674.35          912,612.17                   -                 -                   -
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Detail
------------------------------------------------------------------
                                  Paid or           Current
                  Optimal         Deferred           Unpaid
    Class         Interest        Interest          Interest
------------------------------------------------------------------
               (5)=(1)-(2)+(3)+(4)  (6)           (7)=(5)-(6)
------------------------------------------------------------------
<S>            <C>             <C>             <C>

    LT-A           875,406.79      875,406.79                   -
    LT-A2                   -               -                   -
    LT-X                    -               -                   -
   LT-B-1           12,223.39       12,223.39                   -
   LT-B-2           10,628.04       10,628.04                   -
------------------------------------------------------------------
   LT-B-3            4,783.96        4,783.96                   -
   LT-B-4            3,170.02        3,170.02                   -
   LT-B-5            2,124.37        2,124.37                   -
   LT-B-6            4,275.60        4,275.60                   -
    LT-R                    -               -                   -
-------------------------------------------------------------------

-------------------------------------------------------------------
    Total          912,612.17      912,612.17                   -
-------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
Distribution in Dollars - Current Period
--------------------------------------------------------------------------------------------------------------------------------
                                                           Prior
             Class              Original                 Principal                                                  Total
  Class       Type             Face Value                 Balance             Interest          Principal        Distribution
--------------------------------------------------------------------------------------------------------------------------------
                                                            (1)                 (2)                (3)           (4)=(2)+(3)
--------------------------------------------------------------------------------------------------------------------------------
<S>        <C>              <C>                                           <C>               <C>                <C>

    A         FLT                  496,378,000.00      423,616,677.52      504,809.87        4,935,256.36        5,440,066.23
    X         CSTR                         100.00                  -       378,067.74                 -            378,067.74
   A-R         R                           100.00                  -              -                   -                    -
   B-1        SUB                    5,915,000.00        5,915,000.00        8,921.79                 -              8,921.79
   B-2        SUB                    5,143,000.00        5,143,000.00        7,757.36                 -              7,757.36
--------------------------------------------------------------------------------------------------------------------------------
   B-3        SUB                    2,315,000.00        2,315,000.00        3,491.79                 -              3,491.79
   B-4        SUB                    1,534,000.00        1,534,000.00        3,170.02                 -              3,170.02
   B-5        SUB                    1,028,000.00        1,028,000.00        2,124.37                 -              2,124.37
   B-6        SUB                    2,068,996.00        2,068,996.00        4,275.59                 -              4,275.59

--------------------------------------------------------------------------------------------------------------------------------
  Total                            514,382,196.00      441,620,673.52      912,618.53        4,935,256.36        5,847,874.89
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Definitive Bond Record Date: 8/29/03

<TABLE>
<CAPTION>
Distribution in Dollars - Current Period
-----------------------------------------------------------------
                                                    Current
               Realized         Deferred           Principal
  Class         Losses          Interest            Balance
-----------------------------------------------------------------
                  (5)              (6)         (7)=(1)-(3)-(5)+(6)
-----------------------------------------------------------------
<S>          <C>            <C>                <C>

    A               -                    -       418,681,421.16
    X               -                    -                  -
   A-R              -                    -                  -
   B-1              -                    -         5,915,000.00
   B-2              -                    -         5,143,000.00
-----------------------------------------------------------------
   B-3              -                    -         2,315,000.00
   B-4              -                    -         1,534,000.00
   B-5              -                    -         1,028,000.00
   B-6              -                    -         2,068,996.00

-----------------------------------------------------------------
  Total             -                    -       436,685,417.16
-----------------------------------------------------------------
</TABLE>

Definitive Bond Record Date: 8/29/03

<TABLE>
<CAPTION>
Interest Accrual Detail                            Current Period Factor Information per $1,000 of Original Face
-----------------------------------------------------------------------------------------------------------------------------------
                                                                          Orig. Principal         Prior
             Period      Period                                           (with Notional)       Principal
  Class     Starting     Ending        Method              Cusip              Balance            Balance            Interest
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                   (1)                 (2)
-----------------------------------------------------------------------------------------------------------------------------------
<S>        <C>         <C>         <C>             <C>                    <C>               <C>                <C>

    A       08/19/03    09/18/03      A-30/360           81743XAA7          496,378,000.00        853.415497             1.016987
    X                                 A-30/360           SQ0201UPX                  100.00               -       3,780,677.400000
   A-R                                A-30/360           81743XAC3                  100.00               -                     -
   B-1      08/19/03    09/18/03      A-30/360           81743XAB5            5,915,000.00      1,000.000000             1.508333
   B-2      08/19/03    09/18/03      A-30/360           81743XAD1            5,143,000.00      1,000.000000             1.508334
-----------------------------------------------------------------------------------------------------------------------------------
   B-3      08/19/03    09/18/03      A-30/360           81743XAE9            2,315,000.00      1,000.000000             1.508333
   B-4                                A-30/360           SQ0201UB4            1,534,000.00      1,000.000000             2.066506
   B-5                                A-30/360           SQ0201UB5            1,028,000.00      1,000.000000             2.066508
   B-6                                A-30/360           SQ0201UB6            2,068,996.00      1,000.000000             2.066505

-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Accrual Detail
--------------------------------------------------------------
                                                  Current
                                Total            Principal
  Class      Principal      Distribution          Balance
--------------------------------------------------------------
                (3)          (4)=(2)+(3)            (5)
--------------------------------------------------------------
<S>          <C>         <C>                  <C>

    A          9.942536          10.959523         843.472960
    X                -    3,780,677.400000                 -
   A-R               -                  -                  -
   B-1               -            1.508333       1,000.000000
   B-2               -            1.508334       1,000.000000
--------------------------------------------------------------
   B-3               -            1.508333       1,000.000000
   B-4               -            2.066506       1,000.000000
   B-5               -            2.066508       1,000.000000
   B-6               -            2.066505       1,000.000000

--------------------------------------------------------------
</TABLE>

Interest will accrue on all Bonds on the basis of a 360-day year consisting of
twelve 30-day months.
<PAGE>

<TABLE>
<CAPTION>
Distribution in Dollars - to Date
------------------------------------------------------------------------------------------------------------------------------------

                    Original                              Unscheduled          Scheduled           Total                Total
    Class          Face Value           Interest           Principal           Principal         Principal          Distribution
------------------------------------------------------------------------------------------------------------------------------------
                       (1)                (2)                 (3)                 (4)           (5)=(3)+(4)          (6)=(2)+(5)
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>                  <C>               <C>                   <C>              <C>                 <C>

      A             496,378,000.00     11,784,061.35         77,696,578.84                -       77,696,578.84        89,480,640.19
      X                     100.00      8,121,051.15                100.00                -              100.00         8,121,151.15
     A-R                    100.00              0.27                100.00                -              100.00               100.27
     B-1              5,915,000.00        181,680.67                     -                -                   -           181,680.67
     B-2              5,143,000.00        157,968.53                     -                -                   -           157,968.53
     B-3              2,315,000.00         71,105.78                     -                -                   -            71,105.78
     B-4              1,534,000.00         65,400.01                     -                -                   -            65,400.01
     B-5              1,028,000.00         43,827.42                     -                -                   -            43,827.42
     B-6              2,068,996.00         88,208.89                     -                -                   -            88,208.89

------------------------------------------------------------------------------------------------------------------------------------
    Total           514,382,196.00     20,513,304.07         77,696,778.84                -       77,696,778.84        98,210,082.91
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Distribution in Dollars - to Date
-------------------------------------------------------------------
                                                     Current
                  Realized        Deferred          Principal
    Class          Losses         Interest           Balance
-------------------------------------------------------------------
                    (7)              (8)        (9)=(1)-(5)-(7)+(8)
-------------------------------------------------------------------
<S>            <C>             <C>              <C>

      A                     -                -      418,681,421.16
      X                     -                -                   -
     A-R                    -                -                   -
     B-1                    -                -        5,915,000.00
     B-2                    -                -        5,143,000.00
     B-3                    -                -        2,315,000.00
     B-4                    -                -        1,534,000.00
     B-5                    -                -        1,028,000.00
     B-6                    -                -        2,068,996.00

-------------------------------------------------------------------
    Total                   -                -      436,685,417.16
-------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Detail
-----------------------------------------------------------------------------------------------------------------------------------
                    Pass-          Prior Principal                                  Non-              Prior         Unscheduled
                   Through         (with Notional)           Accrued              Supported          Unpaid          Interest
    Class            Rate              Balance              Interest             Interest SF        Interest        Adjustments
-----------------------------------------------------------------------------------------------------------------------------------
                                                               (1)                   (2)               (3)              (4)
-----------------------------------------------------------------------------------------------------------------------------------
<S>            <C>               <C>                    <C>                  <C>                  <C>            <C>

      A            1.43000%           423,616,677.52             504,809.87                    -              -                  -
      X            1.03818%                        -             378,067.74                    -              -                  -
     A-R           2.47981%                        -                      -                    -              -                  -
     B-1           1.81000%             5,915,000.00               8,921.79                    -              -                  -
     B-2           1.81000%             5,143,000.00               7,757.36                    -              -                  -
-----------------------------------------------------------------------------------------------------------------------------------
     B-3           1.81000%             2,315,000.00               3,491.79                    -              -                  -
     B-4           2.47981%             1,534,000.00               3,170.02                    -              -                  -
     B-5           2.47981%             1,028,000.00               2,124.37                    -              -                  -
     B-6           2.47981%             2,068,996.00               4,275.59                    -              -                  -

-----------------------------------------------------------------------------------------------------------------------------------
    Total                             441,620,673.52             912,618.53                    -              -                  -
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Detail
--------------------------------------------------------------------
                                     Paid or           Current
                  Optimal           Deferred            Unpaid
    Class        Interest           Interest           Interest
--------------------------------------------------------------------
             (5)=(1)-(2)+(3)+(4)       (6)           (7)=(5)-(6)
--------------------------------------------------------------------
<S>          <C>                   <C>                 <C>

      A             504,809.87         504,809.87                 -
      X             378,067.74         378,067.74                 -
     A-R                     -                  -                 -
     B-1              8,921.79           8,921.79                 -
     B-2              7,757.36           7,757.36                 -
--------------------------------------------------------------------
     B-3              3,491.79           3,491.79                 -
     B-4              3,170.02           3,170.02                 -
     B-5              2,124.37           2,124.37                 -
     B-6              4,275.59           4,275.59                 -

--------------------------------------------------------------------
    Total           912,618.53         912,618.53                 -
--------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                            COLLECTION ACCOUNT REPORT
--------------------------------------------------------------------------------

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

               Principal Collections                                                                          4,935,256.36
               Principal Withdrawals                                                                                  0.00
               Principal Other Accounts                                                                               0.00
               TOTAL PRINCIPAL                                                                                4,935,256.36

               Interest Collected                                                                               930,237.63
               Interest Withdrawals                                                                                   0.00
               Interest Other Accounts                                                                                6.37
               Fees                                                                                            (17,625.46)
               TOTAL INTEREST                                                                                   912,618.54

               TOTAL AVAILABLE TO CERTIFICATEHOLDERS                                                          5,847,874.90

---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - COLLECTIONS                                                                                              TOTAL
---------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                       <C>

               Scheduled Principal                                                                                    0.00
               Curtailments                                                                                     972,028.62
               Prepayments In Full                                                                            3,963,227.74
               Repurchased Principal Amounts                                                                          0.00
               Substitution Principal Amount                                                                          0.00
               Liquidations                                                                                           0.00
               Insurance Principal                                                                                    0.00
               Other Principal                                                                                        0.00
               Total Realized Loss Of Principal                                                                       0.00

               TOTAL PRINCIPAL COLLECTED                                                                      4,935,256.36

---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
PRINCIPAL - WITHDRAWALS                                                                                              TOTAL
---------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                       <C>
                                          SPACE INTENTIONALLY LEFT BLANK

---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - OTHER ACCOUNTS                                                                                           TOTAL
---------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                       <C>

               Amounts remaining in Pre-Funding Account                                                               0.00

---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - COLLECTIONS                                                                                               TOTAL
---------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                       <C>

               Scheduled Interest                                                                             1,052,649.58
               Repurchased Interest                                                                                   0.00
               Substitution Interest Amount                                                                           0.00
               Liquidation Interest                                                                                   0.00
               Insurance Interest                                                                                     0.00
               Other Interest                                                                                         0.00

               Delinquent Interest                                                                             (930,200.18)
               Interest Advanced                                                                                807,788.23
               Prepayment Interest Shortfalls                                                                    (4,456.40)
               Compensating Interest                                                                              4,456.40
               Civil Relief Act Shortfalls                                                                            0.00

               TOTAL INTEREST COLLECTED                                                                         930,237.63

---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - WITHDRAWALS                                                                                               TOTAL
---------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                       <C>

               Current Nonrecoverable Advances                                                                        0.00

               TOTAL INTEREST WITHDRAWALS                                                                             0.00

---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
INTEREST - OTHER ACCOUNTS                                                       TOTAL
--------------------------------------------------------------------------------------
<S>                                                                              <C>

    Basis Risk Shortfall                                                         0.00
    Basis Risk Reserve Fund Interest Earnings                                    6.37

    TOTAL INTEREST OTHER ACCOUNTS                                                6.37

--------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - FEES                                                                TOTAL
--------------------------------------------------------------------------------------
<S>                                                                         <C>

    Current Servicing Fees                                                  16,153.39
    Trustee Fee                                                              1,472.07

    TOTAL FEES                                                              17,625.46

--------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------

                            CREDIT ENHANCEMENT REPORT
--------------------------------------------------------------------------------

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

    BASIS RISK RESERVE FUND

    Beginning Balance                                                       10,000.00
    Basis Risk Deposit                                                           0.00
    Basis Risk Shortfall paid                                                    0.00
    Investment Earnings distributed to the Class X Bondholder                    6.37
    Ending Balance                                                          10,000.00

--------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INSURANCE                                                                      TOTAL
--------------------------------------------------------------------------------------
<S>                                                                         <C>
                          SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
STRUCTURAL FEATURES                                                            TOTAL
--------------------------------------------------------------------------------------
<S>                                                                       <C>

    Pro Rata Senior Percentage                                             95.923199%
    Senior Percentage                                                     100.000000%
    Subordinate Percentage                                                  0.000000%
    Senior Prepayment Percentage                                          100.000000%
    Subordinate Percentage                                                  0.000000%

--------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------

                                COLLATERAL REPORT
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
COLLATERAL                                                                     TOTAL
--------------------------------------------------------------------------------------
<S>                                                                    <C>
Loan Count:
ORIGINAL                                                                         1254
Prior                                                                           1,086
Prefunding                                                                          -
Scheduled Paid Offs                                                                 -
Full Voluntary Prepayments                                                       (11)
Repurchases                                                                         -
Liquidations                                                                        -
--------------------------------------------------------------------------------------
Current                                                                         1,075

PRINCIPAL BALANCE:
Original                                                               514,382,196.83
Prior                                                                  441,620,674.35
Prefunding                                                                          -
Scheduled Principal                                                                 -
Partial and Full Voluntary Prepayments                                 (4,935,256.36)
Repurchases                                                                         -
Liquidations                                                                        -
--------------------------------------------------------------------------------------
Current                                                                436,685,417.99
--------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PREFUNDING                                                                     TOTAL
--------------------------------------------------------------------------------------
<S>                                                                    <C>
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

Weighted Average Coupon Original                                            3.667751%
Weighted Average Coupon Prior                                               2.987543%
Weighted Average Coupon Current                                             2.860327%
--------------------------------------------------------------------------------------
Weighted Average Months to Maturity Original                                      297
Weighted Average Months to Maturity Prior                                         282
Weighted Average Months to Maturity Current                                       281
--------------------------------------------------------------------------------------
Weighted Avg Remaining Amortization Term Original                                 296
Weighted Avg Remaining Amortization Term Prior                                    281
Weighted Avg Remaining Amortization Term Current                                  280
--------------------------------------------------------------------------------------
Weighted Average Seasoning Original                                              3.66
Weighted Average Seasoning Prior                                                18.63
Weighted Average Seasoning Current                                              19.63

--------------------------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                                            TOTAL
--------------------------------------------------------------------------------------
<S>                                                                         <C>

Weighted Average Margin Original                                               1.652%
Weighted Average Margin Prior                                                  1.643%
Weighted Average Margin Current                                                1.643%
--------------------------------------------------------------------------------------
Weighted Average Max Rate Original                                            12.000%
Weighted Average Max Rate Prior                                               12.000%
Weighted Average Max Rate Current                                             12.000%
--------------------------------------------------------------------------------------
Weighted Average Min Rate Original                                             1.652%
Weighted Average Min Rate Prior                                                1.643%
Weighted Average Min Rate Current                                              1.643%
--------------------------------------------------------------------------------------
Weighted Average Cap Up Original                                               0.000%
Weighted Average Cap Up Prior                                                  0.000%
Weighted Average Cap Up Current                                                0.000%
--------------------------------------------------------------------------------------
Weighted Average Cap Down Original                                             0.000%
Weighted Average Cap Down Prior                                                0.000%
Weighted Average Cap Down Current                                              0.000%

--------------------------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<PAGE>

<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES                                                      TOTAL
--------------------------------------------------------------------------------------
<S>                                                                      <C>

Current Servicing Fees                                                      16,153.39
Delinquent Servicing Fees                                                  122,411.95
TOTAL SERVICING FEES                                                       138,565.34

Total Servicing Fees                                                       138,565.34
Compensating Interest                                                      (4,456.40)
Delinquent Servicing Fees                                                (122,411.95)
COLLECTED SERVICING FEES                                                    11,696.99

Prepayment Interest Shortfall                                                4,456.40

Total Advanced Interest                                                    807,788.23

Current Nonrecoverable Advances                                                  0.00

--------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL COLLATERAL INFORMATION                                              TOTAL
--------------------------------------------------------------------------------------
<S>                                                                     <C>

Mortgage Loans which adjust based on One-Month LIBOR                             0.00
Mortgage Loans which adjust based on Six-Month LIBOR                             0.00

Special Hazard Loss Coverage Amount                                      5,800,000.00
Current Special Hazard Losses                                                    0.00
Cumulative Special Hazard Losses                                                 0.00
Bankruptcy Loss Coverage Amount                                            100,000.00
Current Bankruptcy Losses                                                        0.00
Cumulative Bankruptcy Losses                                                     0.00
Fraud Loss Coverage Amount                                               9,267,516.97
Current Fraud Losses                                                             0.00
Cumulative Fraud Losses                                                          0.00

--------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------

                           DELINQUENCY REPORT - TOTAL
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                   <1 PAYMENT         1 PAYMENT         2  PAYMENTS      3+ PAYMENTS                  TOTAL
----------------------------------------------------------------------------------------------------------------------------
<S>             <C>                <C>               <C>                <C>              <C>                    <C>
DELINQUENT      Balance                              665,909.34                   -                -             665,909.34
                % Balance                                 0.15%               0.00%            0.00%                  0.15%
                # Loans                                       3                   -                -                      3
                % # Loans                                 0.28%               0.00%            0.00%                  0.28%
----------------------------------------------------------------------------------------------------------------------------
FORECLOSURE     Balance                     -                 -                   -                -                      -
                % Balance               0.00%             0.00%               0.00%            0.00%                  0.00%
                # Loans                     -                 -                   -                -                      -
                % # Loans               0.00%             0.00%               0.00%            0.00%                  0.00%
----------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY      Balance                     -                 -                   -                -                      -
                % Balance               0.00%             0.00%               0.00%            0.00%                  0.00%
                # Loans                     -                 -                   -                -                      -
                % # Loans               0.00%             0.00%               0.00%            0.00%                  0.00%
----------------------------------------------------------------------------------------------------------------------------
REO             Balance                     -                 -                   -                -                      -
                % Balance               0.00%             0.00%               0.00%            0.00%                  0.00%
                # Loans                     -                 -                   -                -                      -
                % # Loans               0.00%             0.00%               0.00%            0.00%                  0.00%
----------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------
TOTAL           Balance                     -        665,909.34                   -                -             665,909.34
                % Balance               0.00%             0.15%               0.00%            0.00%                  0.15%
                # Loans                     -                 3                   -                -                      3
                % # Loans               0.00%             0.28%               0.00%            0.00%                  0.28%
----------------------------------------------------------------------------------------------------------------------------
Note:  <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
</TABLE>

<PAGE>

--------------------------------------------------------------------------------

     REO REPORT - MORTGAGE LOANS THAT BECOME REO DURING CURRENT DISTRIBUTION
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                                LOAN GROUP
----------------------------------------------------------------------------------------------------------------------------
<S>                                                    <C>

Total Loan Count =   0                                 Loan Group 1  =  MSDW Group;  REO Book Value  =  000.00
Total Original Principal Balance =   000.00
Total Current Balance =   000.00
REO Book Value =   000.00

----------------------------------------------------------------------------------------------------------------------------
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
  Loan Number      Original          Stated                          Current         State &
       &          Principal        Principal           Paid to         Note           LTV at        Original     Origination
   Loan Group      Balance          Balance             Date           Rate        Origination         Term          Date
---------------------------------------------------------------------------------------------------------------------------------
<S>               <C>              <C>                 <C>           <C>           <C>              <C>          <C>
                                                SPACE INTENTIONALLY LEFT BLANK

---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------

                 FORECLOSURE REPORT - MORTGAGE LOANS THAT BECOME FORECLOSURE DURING CURRENT DISTRIBUTION
----------------------------------------------------------------------------------------------------------------------------

SUMMARY                                                LOAN GROUP
----------------------------------------------------------------------------------------------------------------------------
<S>                                                    <C>

Total Loan Count =   0                                 Loan Group 1  =  MSDW Group
Total Original Principal Balance =   000.00
Total Current Balance =   000.00

----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
  Loan Number     Original         Stated                           Current        State &
       &         Principal        Principal            Paid to        Note          LTV at        Original       Origination
   Loan Group     Balance          Balance              Date          Rate        Origination       Term             Date
---------------------------------------------------------------------------------------------------------------------------------
<S>               <C>             <C>                 <C>           <C>           <C>              <C>          <C>
                                                SPACE INTENTIONALLY LEFT BLANK

---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------

                    PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS                                                          TOTAL
--------------------------------------------------------------------------------------
<S>                                                                    <C>

CURRENT
Number of Paid in Full Loans                                                       11
Number of Repurchased Loans                                                         -
--------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full                                              11

Paid in Full Balance                                                     3,963,227.74
Repurchased Loans Balance                                                           -
Curtailments Amount                                                        972,028.62
--------------------------------------------------------------------------------------
Total Prepayment Amount                                                  4,935,256.36

CUMULATIVE
Number of Paid in Full Loans                                                      179
Number of Repurchased Loans                                                         -
--------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full                                             179

Paid in Full Balance                                                    66,476,967.19
Repurchased Loans Balance                                                           -
Curtailments Amount                                                     11,219,811.65
--------------------------------------------------------------------------------------
Total Prepayment Amount                                                 77,696,778.84

                           SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                     TOTAL
--------------------------------------------------------------------------------------
<S>                                                                    <C>

    SMM                                                                         1.12%
    3 Months Avg SMM                                                            1.07%
    12 Months Avg SMM                                                           1.00%
    Avg SMM Since Cut-off                                                       0.96%

    CPR                                                                        12.62%
    3 Months Avg CPR                                                           12.14%
    12 Months Avg CPR                                                          11.35%
    Avg CPR Since Cut-off                                                      10.92%

    PSA                                                                       321.35%
    3 Months Avg  PSA Approximation                                           325.78%
    12 Months Avg PSA Approximation                                           401.55%
    Avg PSA Since Cut-off Approximation                                       468.95%

--------------------------------------------------------------------------------------
</TABLE>

PREPAYMENT CALCULATION METHODOLOGY
--------------------------------------------------------------------------------

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments +
Repurchases)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)/\12)

PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) *
(1-SMMn+1) *.......*(1-SMMm)]/\(1/months in period n,m)

Average CPR over period between the nth month and mth month (AvgCPRn,m):
1-((1-AvgSMMn,m)/\12)

Average PSA Approximation over period between the nth month and mth month:
AvgCPRn,m/(0.02*Avg WASn,m))

Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of
months in the period n,m)

Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial
      and full voluntary prepayments and repurchases. Dates correspond to
      distribution dates.
--------------------------------------------------------------------------------

<PAGE>

--------------------------------------------------------------------------------

  PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                                               LOAN GROUP
---------------------------------------------------------             -------------------------------------------------------
<S>                                                                   <C>

Total Loan Count =   11                                               Loan Group 1    =    MSDW Group
Total Original Principal Balance =   4,070,600.00
Total Prepayment Amount =   3,963,227.74

---------------------------------------------------------             -------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Loan Number             Original                                  Current      State &         Type Prepayment
     &        Loan     Principal       Prepayment    Prepayment     Note        LTV at                 &            Origination
Loan Group   Status     Balance          Amount        Date         Rate     Origination        Original Term           Date
--------------------------------------------------------------------------------------------------------------------------------
<S>          <C>     <C>             <C>             <C>          <C>        <C>               <C>                  <C>

390441967 1             306,000.00      305,840.63     Aug-29-03    2.875%     SC  -  88.95%     Paid Off  -  300     Nov-06-01
390442230 1             160,000.00      159,981.61     Aug-21-03    2.875%     GA  -  69.26%     Paid Off  -  300     Oct-17-01
390443607 1             220,000.00      215,709.01     Aug-20-03    3.000%     WA  -  67.69%     Paid Off  -  300     Nov-14-01
390443826 1             165,000.00       75,224.96     Aug-19-03    2.875%     CA  -  52.47%     Paid Off  -  300     Dec-28-01
390443895 1           1,008,000.00    1,008,000.00     Aug-13-03    3.000%     CA  -  69.52%     Paid Off  -  300     Nov-29-01
390443937 1             400,000.00      400,000.00     Aug-18-03    2.875%     AZ  -  73.19%     Paid Off  -  300     Dec-05-01
390446533 1             320,000.00      319,951.67     Aug-12-03    2.875%     IA  -  80.00%     Paid Off  -  300     Dec-31-01
390446597 1             688,000.00      679,896.68     Aug-13-03    3.000%     UT  -  80.00%     Paid Off  -  300     Jan-17-02
390446877 1             510,000.00      510,000.00     Aug-27-03    3.000%     NY  -  71.33%     Paid Off  -  300     Jan-22-02
390447677 1              68,000.00       63,825.92     Aug-26-03    2.875%     CA  -  46.26%     Paid Off  -  300     Feb-21-02
390448289 1             225,600.00      224,797.26     Aug-28-03    3.000%     MA  -  68.36%     Paid Off  -  300     Feb-15-02

--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------

   REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                                         LOAN GROUP
----------------------------------------------------            ---------------------------------------------------
<S>                                                             <C>

Total Loan Count =   0                                          Loan Group 1    =    MSDW Group
Total Original Principal Balance =   0.00
Total Prior Principal Balance =   0.00
Total Realized Loss Amount =   0.00
Total Net Liquidation Proceeds =   0.00
----------------------------------------------------            ---------------------------------------------------
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------

 Loan Number                  Original           Prior                      Current        State &
      &          Loan         Principal        Principal       Realized       Note         LTV at       Original   Origination
  Loan Group    Status         Balance          Balance      Loss/(Gain)      Rate       Origination      Term         Date
--------------------------------------------------------------------------------------------------------------------------------
<S>             <C>           <C>              <C>           <C>            <C>          <C>            <C>        <C>
                                                SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------

               TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
TRIGGER EVENTS                                                                 TOTAL
--------------------------------------------------------------------------------------
<S>                                                                         <C>
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADJUSTABLE RATE CERTIFICATE INFORMATION                                        TOTAL
--------------------------------------------------------------------------------------
<S>                                                                         <C>
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL INFORMATION                                                         TOTAL
--------------------------------------------------------------------------------------
<S>                                                                         <C>

Basis Risk Shortfall
Class A                                                                          0.00
Class B-1                                                                        0.00
Class B-2                                                                        0.00
Class B-3                                                                        0.00
Unpaid Basis Risk Shortfall
Class A                                                                          0.00
Class B-1                                                                        0.00
Class B-2                                                                        0.00
Class B-3                                                                        0.00

--------------------------------------------------------------------------------------
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}]]