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

                               SHT SERIES 2004-1
                         RECORD DATE: JANUARY 31, 2005
                      DISTRIBUTION DATE: FEBRUARY 22, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate                          Beginning
                                 Class        Certificate Pass-   Certificate        Interest        Principal          Current
   Class          CUSIP       Description       Through Rate        Balance        Distribution     Distribution     Realized Loss
   -----          -----       -----------       ------------        -------        ------------     ------------     -------------
<S>             <C>           <C>             <C>                <C>               <C>              <C>              <C>
    NOTE        817419AA2         SEN              2.73000%      281,059,479.17     703,351.35      6,716,823.40        0.00
     L          SHT04002L         DRAW             0.00000%                0.00           0.00              0.00        0.00
     O          SHT04002O          OC              0.00000%        3,193,199.21           0.00              0.00        0.00
   AMBAC                          FEE              0.12000%                0.00      28,105.95              0.00        0.00
                                                                 --------------     ----------      ------------        ----
Totals                                                           284,252,678.38     731,457.30      6,716,823.40        0.00
                                                                 --------------     ----------      ------------        ----

<CAPTION>
                             Ending Certificate      Total            Cumulative
   Class          CUSIP          Balance          Distribution       Realized Loss
   -----          -----          -------          ------------       -------------
<S>             <C>          <C>                  <C>                <C>
    NOTE        817419AA2       274,342,655.77     7,420,174.75           0.00
     L          SHT04002L                 0.00             0.00           0.00
     O          SHT04002O         3,550,065.96             0.00           0.00
   AMBAC                                  0.00        28,105.95           0.00
                                --------------     ------------           ----
Totals                          277,892,721.73     7,448,280.70           0.00
                                --------------     ------------           ----
</TABLE>

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

                        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>
    NOTE       317,044,000.00    281,059,479.17       0.00         6,716,823.40      0.00         0.00         6,716,823.40
     L                   0.00              0.00       0.00                 0.00      0.00         0.00                 0.00
     O                  81.98      3,193,199.21       0.00                 0.00      0.00         0.00                 0.00
   AMBAC                 0.00              0.00       0.00                 0.00      0.00         0.00                 0.00
               --------------    --------------       ----         ------------      ----         ----         ------------
Totals         317,044,081.98    284,252,678.38       0.00         6,716,823.40      0.00         0.00         6,716,823.40
               --------------    --------------       ----         ------------      ----         ----         ------------

<CAPTION>
                  Ending Certificate         Ending Certificate      Total Principal
   Class                Balance                 Percentage             Distribution
   -----                -------                 ----------             ------------
<S>               <C>                        <C>                     <C>
    NOTE            274,342,655.77                0.86531414           6,716,823.40
     L                        0.00                0.00000000                   0.00
     O                3,550,065.96           43,304.04928031                   0.00
   AMBAC                      0.00                0.00000000                   0.00
                    --------------           ---------------           ------------
Totals              277,892,721.73                0.87651130           6,716,823.40
                    --------------           ---------------           ------------
</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>
                                                     Scheduled     Unscheduled                                       Total
               Original Face        Beginning        Principal      Principal                       Realized        Principal
   Class          Amount       Certificate Balance  Distribution   Distribution     Accretion       Loss (3)        Reduction
   -----          ------       -------------------  ------------   ------------     ---------       --------        ---------
<S>            <C>             <C>                  <C>            <C>              <C>             <C>            <C>
    NOTE       317,044,000.00       886.49991537     0.00000000    21.18577674      0.00000000      0.00000000     21.18577674
     L                   0.00         0.00000000     0.00000000     0.00000000      0.00000000      0.00000000      0.00000000
     O                  81.98   8950954.01317390     0.00000000     0.00000000      0.00000000      0.00000000      0.00000000
   AMBAC                 0.00         0.00000000     0.00000000     0.00000000      0.00000000      0.00000000      0.00000000

<CAPTION>
                                           Ending             Total
               Ending Certificate        Certificate        Principal
   Class            Balance              Percentage        Distribution
   -----            -------              ----------        ------------
<S>            <C>                    <C>                  <C>
    NOTE            865.31413864          0.86531414       21.18577674
     L                0.00000000          0.00000000        0.00000000
     O         43304049.28031230      43304.04928031        0.00000000
   AMBAC              0.00000000          0.00000000        0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                   Beginning                      Payment of                   Non-
                                                  Certificate/       Current       Unpaid       Current      Supported
              Original Face  Current Certificate    Notional         Accrued      Interest      Interest     Interest     Realized
   Class         Amount            Rate             Balance          Interest     Shortfall     Shortfall    Shortfall    Loss (4)
   -----         ------            ----             -------          --------     ---------     ---------    ---------    --------
<S>           <C>            <C>                 <C>                <C>           <C>           <C>          <C>          <C>
    NOTE      317,044,000.00      2.73000%       281,059,479.17     703,351.35       0.00          0.00         0.00        0.00
     L                  0.00      0.00000%                 0.00           0.00       0.00          0.00         0.00        0.00
     O                 81.98      0.00000%         3,193,199.21           0.00       0.00          0.00         0.00        0.00
   AMBAC                0.00      0.12000%       281,059,479.17      28,105.95       0.00          0.00         0.00        0.00
              --------------                                        ----------       ----          ----         ----        ----
   Totals     317,044,081.98                                        731,457.30       0.00          0.00         0.00        0.00
              --------------                                        ----------       ----          ----         ----        ----

<CAPTION>
                                        Remaining              Ending
                                         Unpaid             Certificate/
                  Total Interest        Interest             Notational
   Class           Distribution         Shortfall              Balance
   -----           ------------         --------               -------
<S>               <C>                   <C>                <C>
    NOTE            703,351.35            0.00             274,342,655.77
     L                    0.00            0.00                       0.00
     O                    0.00            0.00               3,550,065.96
   AMBAC             28,105.95            0.00             274,342,655.77
                    ----------            ----
   Totals           731,457.30            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                              Current      Unpaid       Current      Supported
              Original Face    Certificate  Beginning  Certificate/   Accrued     Interest      Interest     Interest     Realized
  Class (5)      Amount           Rate        Notional Balance       Interest     Shortfall     Shortfall    Shortfall    Loss (6)
  ---------      ------           ----        ----------------       --------     ---------     ---------    ---------    --------
<S>           <C>              <C>          <C>                     <C>           <C>           <C>         <C>          <C>
    NOTE      317,044,000.00     2.73000%         886.49991537      2.21846605    0.00000000    0.00000000  0.00000000   0.00000000
      L                 0.00     0.00000%           0.00000000      0.00000000    0.00000000    0.00000000  0.00000000   0.00000000
      O                81.98     0.00000%    38950954.01317390      0.00000000    0.00000000    0.00000000  0.00000000   0.00000000
    AMBAC               0.00     0.12000%         886.49991537      0.08865000    0.00000000    0.00000000  0.00000000   0.00000000

<CAPTION>
                                Remaining
                                 Unpaid
               Total  Interest   Interest    Ending Certificate/
  Class (5)     Distribution    Shortfall    Notational Balance
  ---------     ------------    ---------    ------------------
<S>            <C>              <C>          <C>
    NOTE         2.21846605     0.00000000         865.31413864
      L          0.00000000     0.00000000           0.00000000
      O          0.00000000     0.00000000    43304049.28031230
    AMBAC        0.08865000     0.00000000         865.31413864
</TABLE>

(5)   Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                                   7,566,325.72
         Liquidations, Insurance Proceeds, Reserve Funds                              0.00
         Proceeds from Repurchased Loans                                              0.00
         Other Amounts (Servicer Advances)                                            0.00
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                    0.00
         Prepayment Penalties                                                         0.00
                                                                              ------------
Total Deposits                                                                7,566,325.72

Withdrawals
         Reimbursement for Servicer Advances                                          0.00
         Payment of Service Fee                                                 118,045.03
         Payment of Interest and Principal                                    7,448,280.69
                                                                              ------------
Total Withdrawals (Pool Distribution Amount)                                  7,566,325.72

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                                       114,491.87
Master Servicing Fee                                        3,553.16
Supported Prepayment/Curtailment Interest Shortfall             0.00
                                                          ----------
Net Servicing Fee                                         118,045.03
                                                          ==========
</TABLE>

                   OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                                 Beginning          Current          Current       Ending
                Account Type                      Balance         Withdrawals       Deposits       Balance
                ------------                      -------         -----------       --------       -------
<S>                                              <C>              <C>               <C>            <C>
Financial Guaranty                                 0.00              0.00             0.00          0.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

                    DELINQUENT

<TABLE>
<CAPTION>
                No. of       Principal
                 Loans        Balance
<S>             <C>          <C>
0-29 Days             0            0.00
30 Days               6      660,695.73
60 Days               1       10,000.00
90 Days               0            0.00
120 Days              0            0.00
150 Days              0            0.00
180+ Days             0            0.00
                      -      ----------
                      7      670,695.73

                No. of       Principal
                 Loans        Balance

0-29 Days      0.000000%       0.000000%
30 Days        0.132979%       0.237752%
60 Days        0.022163%       0.003599%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------        --------
               0.155142%       0.241351%
</TABLE>

                   BANKRUPTCY

<TABLE>
<CAPTION>
                No. of   Principal
                Loans     Balance
<S>             <C>      <C>
0-29 Days            2   164,356.58
30 Days              0         0.00
60 Days              0         0.00
90 Days              0         0.00
120 Days             0         0.00
150 Days             0         0.00
180+ Days            0         0.00
                     -   ----------
                     2   164,356.58

                No. of   Principal
                Loans     Balance

0-29 Days     0.044326%    0.059144%
30 Days       0.000000%    0.000000%
60 Days       0.000000%    0.000000%
90 Days       0.000000%    0.000000%
120 Days      0.000000%    0.000000%
150 Days      0.000000%    0.000000%
180+ Days     0.000000%    0.000000%
              --------     --------
              0.044326%    0.059144%
</TABLE>

                 FORECLOSURE

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

              No. of    Principal
              Loans      Balance

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

                    REO

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

              No. of    Principal
               Loans     Balance

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

                    TOTAL

<TABLE>
<CAPTION>
               No. of     Principal
               Loans       Balance
<S>            <C>        <C>
0-29 Days            2    164,356.58
30 Days              6    660,695.73
60 Days              1     10,000.00
90 Days              0          0.00
120 Days             0          0.00
150 Days             0          0.00
180+ Days            0          0.00
                     -    ----------
                     9    835,052.31

               No. of     Principal
               Loans       Balance

0-29 Days     0.044326%     0.059144%
30 Days       0.132979%     0.237752%
60 Days       0.022163%     0.003599%
90 Days       0.000000%     0.000000%
120 Days      0.000000%     0.000000%
150 Days      0.000000%     0.000000%
180+ Days     0.000000%     0.000000%
              --------      --------
              0.199468%     0.300494%
</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>

<TABLE>
<S>                <C>           <C>           <C>              <C>              <C>            <C>
Class L            81.98         0.00002586%   3,550,065.96     1.29402624%      0.000000%      0.000000%
Class O             0.00         0.00000000%           0.00     0.00000000%      1.294026%      0.000000%
</TABLE>

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                                                   Mixed Arm
<S>                                                                                                      <C>
Weighted Average Gross Coupon                                                                             5.092803%
Weighted Average Net Coupon                                                                               4.609465%
Weighted Average Pass-Through Rate                                                                        4.594465%
Weighted Average Maturity (Stepdown Calculation)                                                               118

Beginning Scheduled Collateral Loan Count                                                                    4,629
Number of Loans Paid in Full                                                                                   117
Ending Scheduled Collateral Loan Count                                                                       4,512

Beginning Scheduled Collateral Balance                                                              281,059,479.17
Ending Scheduled Collateral Balance                                                                 274,342,655.77
Ending Actual Collateral Balance at 31-Jan-2005                                                     277,892,721.73

Monthly P&I Constant                                                                                          0.00
Special Servicing Fee                                                                                         0.00
Prepayment Penalties                                                                                          0.00
Realized Loss Amount                                                                                          0.00
Cumulative Realized Loss                                                                                      0.00
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                <C>
Additional Balance Contributed Amount                                      0.00
Additional Balance                                                 8,400,724.23
Cumulative Loss Percent                                                 0.00000%
Managed Amortization Period                                                 YES
Overcollateralization Amount                                       3,193,199.21
Six Month Rolling Delinquency                                         0.4518296%
Specified Overcollateralization Amount                             3,963,051.02
3 Largest Loan Balance                                             5,207,744.34
Draw Amount                                                        8,400,724.23
Rapid Amortization Event                                                     NO
Excess Cashflow                                                      356,866.74
</TABLE><PAGE>

                                  EXHIBIT 10.1

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

                               SMT SERIES 2004-11
                          RECORD DATE: JANUARY 31, 2005
                      DISTRIBUTION DATE: FEBRUARY 22, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                      Certificate    Certificate
                         Class       Pass-Through         Beginning            Interest        Principal        Current
Class      CUSIP      Description        Rate        Certificate Balance     Distribution     Distribution    Realized Loss
-----    ---------    -----------    ------------    -------------------     ------------     ------------    -------------
<S>      <C>          <C>            <C>             <C>                     <C>              <C>             <C>
 A-1     81744FFJ1        SEN          2.80000%        425,937,723.02          993,854.69     5,085,517.75        0.00
 A-2     81744FFK8        SEN          2.87000%         846,98,817.53          203,260.14     2,399,788.42        0.00
 A-3     81744FFL6        SEN          2.80000%        165,891,511.00          387,080.19     1,313,420.17        0.00
 X-A1    81744FFM4         IO          0.59935%                  0.00          255,184.95             0.00        0.00
 X-A2    81744FFN2         IO          0.98855%                  0.00          136,660.17             0.00        0.00
 X-B     81744FFP7         IO          0.36265%                  0.00            4,542.54             0.00        0.00
 B-1     81744FFR3        SUB          3.00000%          8,947,000.00           22,367.50             0.00        0.00
 B-2     81744FFS1        SUB          3.35000%          6,084,000.00           16,984.50             0.00        0.00
 B-3     81744FFT9        SUB          3.50432%          4,294,000.00           12,539.63             0.00        0.00
 B-4     81744FFU6        SUB          3.50432%          1,431,000.00            4,178.90             0.00        0.00
 B-5     81744FFV4        SUB          3.50432%          1,431,000.00            4,178.90             0.00        0.00
 B-6     81744FFW2        SUB          3.50432%          2,865,425.69            8,367.81             0.00        0.00
 A-R     81744FFQ5        RES          3.39334%                  0.00                0.00             0.00        0.00
                                                     ----------------        ------------     ------------    --------
Totals                                                 701,868,477.24        2,049,200.42     8,798,726.34        0.00
                                                     ----------------        ------------     ------------    --------

<CAPTION>
                      Ending Certificate       Total          Cumulative
Class      CUSIP           Balance          Distribution     Realized Loss
-----    ---------    ------------------    -------------    -------------
<S>      <C>          <C>                   <C>              <C>
 A-1     81744FFJ1      420,852,205.27       6,079,372.44         0.00
 A-2     81744FFK8       82,587,029.11       2,603,048.56         0.00
 A-3     81744FFL6      164,578,090.83       1,700,500.36         0.00
 X-A1    81744FFM4                0.00         255,184.95         0.00
 X-A2    81744FFN2                0.00         136,660.17         0.00
 X-B     81744FFP7                0.00           4,542.54         0.00
 B-1     81744FFR3        8,947,000.00          22,367.50         0.00
 B-2     81744FFS1        6,084,000.00          16,984.50         0.00
 B-3     81744FFT9        4,294,000.00          12,539.63         0.00
 B-4     81744FFU6        1,431,000.00           4,178.90         0.00
 B-5     81744FFV4        1,431,000.00           4,178.90         0.00
 B-6     81744FFW2        2,865,425.69           8,367.81         0.00
 A-R     81744FFQ5                0.00               0.00         0.00
                      ----------------      -------------    ---------
Totals                  693,069,750.90      10,847,926.76         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>
 A-1     433,985,000.00   425,937,723.02        0.00        5,085,517.75       0.00         0.00        5,085,517.75
 A-2      86,036,000.00    84,986,817.53        0.00        2,399,788.42       0.00         0.00        2,399,788.42
 A-3     170,694,000.00   165,891,511.00        0.00        1,313,420.17       0.00         0.00        1,313,420.17
 X-A1              0.00             0.00        0.00                0.00       0.00         0.00                0.00
 X-A2              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
 B-1       8,947,000.00     8,947,000.00        0.00                0.00       0.00         0.00                0.00
 B-2       6,084,000.00     6,084,000.00        0.00                0.00       0.00         0.00                0.00
 B-3       4,294,000.00     4,294,000.00        0.00                0.00       0.00         0.00                0.00
 B-4       1,431,000.00     1,431,000.00        0.00                0.00       0.00         0.00                0.00
 B-5       1,431,000.00     1,431,000.00        0.00                0.00       0.00         0.00                0.00
 B-6       2,865,425.69     2,865,425.69        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
         --------------   --------------    --------        ------------    -------       ------       -------------
Totals   715,767,525.69   701,868,477.24        0.00        8,798,726.34       0.00         0.00        8,798,726.34
         --------------   --------------    --------        ------------    -------       ------       -------------

<CAPTION>
         Ending Certificate     Ending Certificate     Total Principal
Class          Balance             Percentage           Distribution
-----    ------------------     ------------------     ---------------
<S>      <C>                    <C>                    <C>
 A-1       420,852,205.27           0.96973906          5,085,517.75
 A-2        82,587,029.11           0.95991247          2,399,788.42
 A-3       164,578,090.83           0.96417033          1,313,420.17
 X-A1                0.00           0.00000000                  0.00
 X-A2                0.00           0.00000000                  0.00
 X-B                 0.00           0.00000000                  0.00
 B-1         8,947,000.00           1.00000000                  0.00
 B-2         6,084,000.00           1.00000000                  0.00
 B-3         4,294,000.00           1.00000000                  0.00
 B-4         1,431,000.00           1.00000000                  0.00
 B-5         1,431,000.00           1.00000000                  0.00
 B-6         2,865,425.69           1.00000000                  0.00
 A-R                 0.00           0.00000000                  0.00
         ----------------       --------------         -------------
Totals     693,069,750.90           0.96828890          8,798,726.34
         ----------------       --------------         -------------
</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>
 A-1     433,985,000900    981.45724626      0.00000000      11.71818784    0.00000000    0.00000000      11.71818784
 A-2      86,036,000.00    987.80530859      0.00000000      27.89284044    0.00000000    0.00000000      27.89284044
 A-3     170,694,000.00    971.86492202      0.00000000       7.69458897    0.00000000    0.00000000       7.69458897
 X-A1              0.00      0.00000000      0.00000000       0.00000000    0.00000000    0.00000000       0.00000000
 X-A2              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
 B-1       8,947,000.00   1000.00000000      0.00000000       0.00000000    0.00000000    0.00000000       0.00000000
 B-2       6,084,000.00   1000.00000000      0.00000000       0.00000000    0.00000000    0.00000000       0.00000000
 B-3       4,294,000.00   1000.00000000      0.00000000       0.00000000    0.00000000    0.00000000       0.00000000
 B-4       1,431,000.00   1000.00000000      0.00000000       0.00000000    0.00000000    0.00000000       0.00000000
 B-5       1,431,000.00   1000.00000000      0.00000000       0.00000000    0.00000000    0.00000000       0.00000000
 B-6       2,865,425.69   1000.00000000      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

<CAPTION>
                                  Ending
         Ending Certificate     Certificate     Total Principal
Class          Balance          Percentage       Distribution
-----    ------------------     -----------     ---------------
<S>      <C>                    <C>             <C>
 A-1        969.73905842        0.96973906        11.71818784
 A-2        959.91246815        0.95991247        27.89284044
 A-3        964.17033305        0.96417033         7.69458897
 X-A1         0.00000000        0.00000000         0.00000000
 X-A2         0.00000000        0.00000000         0.00000000
 X-B          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
 A-R          0.00000000        0.00000000         0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                  Beginning                        Payment of                   Non-
                                                 Certificate         Current         Unpaid       Current     Supported
         Original Face          Current            Notional          Accrued        Interest      Interest     Interest    Realized
Class        Amount        Certificate Rate        Balance           Interest      Shortfall     Shortfall    Shortfall    Loss (4)
-----    --------------    ----------------     --------------     ------------    ----------    ---------    ---------    --------
<S>      <C>               <C>                  <C>                <C>             <C>           <C>          <C>          <C>
  A-1    433,985,000.00        2.80000%         425,937,723.02       993.854.69       0.00         0.00          0.00        0.00
  A-2     80,036,000.00        2.87000%          84,986,817.53       203,260.14       0.00         0.00          0.00        0.00
  A-3    170,694,000.00        2.80000%         165,891,511.00       387,080.19       0.00         0.00          0.00        0.00
  X-A1             0.00        0.59935%         510,924,540.55       255,184.95       0.00         0.00          0.00        0.00
  X-A2             0.00        0.98855%         165,891,511.00       136,660.17       0.00         0.00          0.00        0.00
  X-B              0.00        0.36265%          15,031,000.00         4,542.54       0.00         0.00          0.00        0.00
  B-1      8,947,000.00        3.00000%           8,947,000.00        22,367.50       0.00         0.00          0.00        0.00
  B-2      6,084,000.00        3.35000%           6,084,000.00        16,984.50       0.00         0.00          0.00        0.00
  B-3      4,294,000.00        3.50432%           4,294,000.00        12,539.63       0.00         0.00          0.00        0.00
  B-4      1,431,000.00        3.50432%           1,431,000.00         4,178.90       0.00         0.00          0.00        0.00
  B-5      1,431,000.00        3.50432%           1,431,000.00         4,178.90       0.00         0.00          0.00        0.00
  B-6      2,865,425.69        3.50432%           2,865,425.69         8,367.81       0.00         0.00          0.00        0.00
  A-R            100.00        3.39334%                   0.00             0.00       0.00         0.00          0.00        0.00
         --------------                                            ------------    -------       ------       -------      ------
Totals   715,767,525.69                                            2,049,199.92       0.00         0.00          0.00        0.00
         --------------                                            ------------    -------       ------       -------      ------

<CAPTION>
                           Remaining        Ending
                             Unpaid      Certificate/
         Total Interest     Interest      Notational
Class     Distribution     Shortfall       Balance
-----    --------------    ---------    --------------
<S>      <C>               <C>          <C>
  A-1      993.854.69         0.00      420,852,205.27
  A-2      203,260.14         0.00       82,587,029.11
  A-3      387,080.19         0.00      164,578,090.83
  X-A1     255,184.95         0.00      503,439,234.38
  X-A2     136,660.17         0.00      164,578,090.83
  X-B        4,542.54         0.00       15,031,000.00
  B-1       22,367.50         0.00        8,947,000.00
  B-2       16,984.50         0.00        6,084,000.00
  B-3       12,539.63         0.00        4,294,000.00
  B-4        4,178.90         0.00        1,431,000.00
  B-5        4,178.90         0.00        1,431,000.00
  B-6        8,367.81         0.00        2,865,425.69
  A-R            0.50         0.00                0.00
         ------------      -------
Totals   2,049,200.42         0.00
         ------------      -------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                 Payment of                    Non-
                             Current        Beginning                             Unpaid       Current      Supported
Class    Original Face     Certificate     Certificate/      Current Accrued     Interest      Interest      Interest     Realized
 (5)         Amount           Rate       Notional Balance        Interest        Shortfall    Shortfall     Shortfall     Loss (6)
-----    --------------    -----------   ----------------    ---------------    -----------   ----------    ----------    ----------
<S>      <C>               <C>           <C>                 <C>                <C>           <C>           <C>           <C>
 A-1     433,985,000.00      2.80000%      981.45724626         2.29006691      0.00000000    0.00000000    0.00000000    0.00000000
 A-2      86,036,000.00      2.87000%      987.80530859         2.36250105      0.00000000    0.00000000    0.00000000    0.00000000
 A-3     170,694,000.00      2.80000%      971.86492202         2.26768480      0.00000000    0.00000000    0.00000000    0.00000000
 X-A1              0.00      0.59935%      982.50751518         0.49072047      0.00000000    0.00000000    0.00000000    0.00000000
 X-A2              0.00      0.98855%      971.86492202         0.80061496      0.00000000    0.00000000    0.00000000    0.00000000
 X-B               0.00      0.36265%     1000.00000000         0.30221143      0.00000000    0.00000000    0.00000000    0.00000000
 B-1       8,947,000.00      3.00000%     1000.00000000         2.50000000      0.00000000    0.00000000    0.00000000    0.00000000
 B-2       6,084,000.00      3.35000%     1000.00000000         2.79166667      0.00000000    0.00000000    0.00000000    0.00000000
 B-3       4,294,000.00      3.50432%     1000.00000000         2.92026782      0.00000000    0.00000000    0.00000000    0.00000000
 B-4       1,431,000.00      3.50432%     1000.00000000         2.92026555      0.00000000    0.00000000    0.00000000    0.00000000
 B-5       1,431,000.00      3.50432%     1000.00000000         2.92026555      0.00000000    0.00000000    0.00000000    0.00000000
 B-6       2,865,425.69      3.50432%     1000.00000000         2.92026767      0.00000000    0.00000000    0.00000000    0.00000000
 A-R             100.00      3.39334%        0.00000000         0.00000000      0.00000000    0.00000000    0.00000000    0.00000000

<CAPTION>
                           Remaining
                            Unpaid
Class    Total Interest     Interest     Ending Certificate/
 (5)      Distribution     Shortfall     Notational Balance
-----    ------------     -----------    ------------------
<S>      <C>               <C>           <C>
 A-1       2.29006691      0.00000000       969.73905842
 A-2       2.36250105      0.00000000       959.91246815
 A-3       2.26768480      0.00000000       964.17033305
 X-A1      0.49072047      0.00000000       968.11327693
 X-A2      0.80061496      0.00000000       964.17033305
 X-B       0.30221143      0.00000000      1000.00000000
 B-1       2.50000000      0.00000000      1000.00000000
 B-2       2.79166667      0.00000000      1000.00000000
 B-3       2.92026782      0.00000000      1000.00000000
 B-4       2.92026555      0.00000000      1000.00000000
 B-5       2.92026555      0.00000000      1000.00000000
 B-6       2.92026767      0.00000000      1000.00000000
 A-R       5.00000000      0.00000000         0.00000000
</TABLE>

(5)   Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
        Payments of Interest and Principal                           11,041,392.51
        Liquidations, Insurance Proceeds, Reserve Funds                       0.00
        Proceeds from Repurchased Loans                                       0.00
        Other Amounts (Servicer Advances)                                76,720.29
        Realized Losses (Gains, Subsequent Expenses & Recoveries)             0.00
        Prepayment Penalties                                                  0.00
                                                                     -------------
Total Deposits                                                       11,118,112.80

Withdrawals
        Reimbursement for Servicer Advances                              62,389.85
        Payment of Service Fee                                          207,796.19
        Payment of Interest and Principal                            10,847,926.76
                                                                     -------------
Total Withdrawals (Pool Distribution Amount)                         11,118,112.80

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>
<CAPTION>
<S>                                                        <C>
Gross Servicing Fee                                        202,239.73
Master Servicing Fee                                         5,556.46
Supported Prepayment/Curtailment Interest Shortfall              0.00
                                                           ----------

Net Servicing Fee                                          207,796.19
                                                           ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                      Beginning      Current      Current      Ending
           Account Type                Balance     Withdrawals    Deposits     Balance
           ------------               ---------    -----------    --------    --------
<S>                                   <C>          <C>            <C>         <C>
Class X-A1 Pool 1 Comp. Sub Amount    3,000.00         0.00         0.00      3,000.00
Class X-A1 Pool 2 Comp. Sub Amount    3,000.00         0.00         0.00      3,000.00
Class X-A2 Sub Amount                 3,000.00         0.00         0.00      3,000.00
Class X-B Sub Amount                  1,000.00         0.00         0.00      1,000.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

                          DELINQUENT

<TABLE>
<CAPTION>
                         No. of                   Principal
                         Loans                     Balance
<S>                     <C>                     <C>
0-29 Days                      0                         0.00
30 Days                       63                22,404,072.48
60 Days                        8                 2,786,149.20
90 Days                        1                    79,000.00
120 Days                       0                         0.00
150 Days                       0                         0.00
180+ Days                      0                         0.00
                        --------                -------------
                              72                25,269,221.68

                         No. of                   Principal
                         Loans                     Balance

0-29 Days               0.000000%                    0.000000%
30 Days                 3.298429%                    3.232580%
60 Days                 0.418848%                    0.402001%
90 Days                 0.052356%                    0.011399%
120 Days                0.000000%                    0.000000%
150 Days                0.000000%                    0.000000%
180+ Days               0.000000%                    0.000000%
                        --------                -------------
                        3.769634%                    3.645979%
</TABLE>

                          BANKRUPTCY

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

                         No. of                   Principal
                         Loans                     Balance

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

                          FORECLOSURE

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

                         No. of                   Principal
                         Loans                     Balance

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

                              REO

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

                         No. of                   Principal
                         Loans                     Balance

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

                             TOTAL

<TABLE>
<CAPTION>
                         No. of                   Principal
                         Loans                     Balance
<S>                     <C>                     <C>
0-29 Days                      0                         0.00
30 Days                       63                22,404,072.48
60 Days                        8                 2,786,149.20
90 Days                        1                    79,000.00
120 Days                       0                         0.00
150 Days                       0                         0.00
180+ Days                      0                         0.00
                        --------                -------------
                              72                25,269,221.68

                         No. of                   Principal
                         Loans                     Balance

0-29 Days               0.000000%                    0.000000%
30 Days                 3.298429%                    3.232580%
60 Days                 0.418848%                    0.402001%
90 Days                 0.052356%                    0.011399%
120 Days                0.000000%                    0.000000%
150 Days                0.000000%                    0.000000%
180+ Days               0.000000%                    0.000000%
                        --------                -------------
                        3.769634%                    3.645979%
</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  76,720.29
</TABLE>

<TABLE>
<CAPTION>
                   Original $          Original%           Current $           Current %      Current Class %    Prepayment %
                 -------------        ----------         -------------        ----------      ---------------    ------------
<S>              <C>                  <C>                <C>                  <C>             <C>                <C>
Class A          25,052,425.69        3.50007856%        25,052,425.69        3.61470482%        96.385295%         0.000000%
Class B-1        16,105,425.69        2.25009170%        16,105,425.69        2.32378136%         1.290923%        35.713109%
Class B-2        10,021,425.69        1.40009505%        10,021,425.69        1.44594764%         0.877834%        24.285074%
Class B-3         5,727,425.69        0.80017959%         5,727,425.69        0.82638518%         0.619562%        17.140057%
Class B-4         4,296,425.69        0.60025435%         4,296,425.69        0.61991245%         0.206473%         5.712022%
Class B-5         2,865,425.69        0.40032910%         2,865,425.69        0.41343973%         0.206473%         5.712022%
Class B-6                 0.00        0.00000000%                 0.00        0.00000000%         0.413440%        11.437718%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

              DELINQUENT

POOL  ONE

<TABLE>
<CAPTION>
                No. of       Principal
                 Loans        Balance
<S>            <C>         <C>
0-29 Days             0             0.00
30 Days              41    15,349,228.96
60 Days               4     1,310,408.07
90 Days               1        79,000.00
120 Days              0             0.00
150 Days              0             0.00
180+ Days             0             0.00
               --------    -------------
                     46    16,738,637.03

                No. of       Principal
                Loans         Balance
0-29 Days      0.000000%        0.000000%
30 Days        3.534483%        3.515676%
60 Days        0.344828%        0.300143%
90 Days        0.086207%        0.018095%
120 Days       0.000000%        0.000000%
150 Days       0.000000%        0.000000%
180+ Days      0.000000%        0.000000%
               --------    -------------
               3.965517%        3.833915%
</TABLE>

              BANKRUPTCY

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

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

             FORECLOSURE

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

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

                  REO

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

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

                TOTAL

<TABLE>
<CAPTION>
                No. of       Principal
                 Loans        Balance
<S>            <C>         <C>
0-29 Days             0             0.00
30 Days              41    15,349,228.96
60 Days               4     1,310,408.07
90 Days               1        79,000.00
120 Days              0             0.00
150 Days              0             0.00
180+ Days             0             0.00
               --------    -------------
                     46    16,738,637.03

                No. of       Principal
                Loans         Balance
0-29 Days      0.000000%        0.000000%
30 Days        3.534483%        3.515676%
60 Days        0.344828%        0.300143%
90 Days        0.086207%        0.018095%
120 Days       0.000000%        0.000000%
150 Days       0.000000%        0.000000%
180+ Days      0.000000%        0.000000%
               --------    -------------
               3.965517%        3.833915%
</TABLE>

POOL TWO      DELINQUENT

<TABLE>
<CAPTION>
                No. of       Principal
                 Loans        Balance
<S>            <C>         <C>
0-29 Days             0            0.00
30 Days               8    2,889,343.28
60 Days               1      918,750.00
90 Days               0            0.00
120 Days              0            0.00
150 Days              0            0.00
180+ Days             0            0.00
               --------    ------------
                      9    3,808,093.28

                No. of       Principal
                 Loans        Balance
0-29 Days      0.000000%       0.000000%
30 Days        3.418803%       3.371156%
60 Days        0.427350%       1.071956%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------    ------------
               3.846154%       4.443112%
</TABLE>

              BANKRUPTCY

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

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

            FORECLOSURE

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

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

                 REO

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

                No. of     Principal
                Loans       Balance
0-29 Days      0.000000%   0.000000%
30 Days        0.000000%   0.000000%
60 Days        0.000000%   0.000000%
90 Days        0.000000%   0.000000%
120 Days       0.000000%   0.000000%
150 Days       0.000000%   0.000000%
180+ Days      0.000000%   0.000000%
               --------    --------
               0.000000%   0.000000%

</TABLE>

                 TOTAL

<TABLE>
<CAPTION>
                No. of       Principal
                 Loans        Balance
<S>            <C>         <C>
0-29 Days             0            0.00
30 Days               8    2,889,343.28
60 Days               1      918,750.00
90 Days               0            0.00
120 Days              0            0.00
150 Days              0            0.00
180+ Days             0            0.00
               --------    ------------
                      9    3,808,093.28

                No. of       Principal
                 Loans        Balance
0-29 Days      0.000000%       0.000000%
30 Days        3.418803%       3.371156%
60 Days        0.427350%       1.071956%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------    ------------
               3.846154%       4.443112%
</TABLE>

<PAGE>

              DELINQUENT

POOL THREE

<TABLE>
<CAPTION>

                No. of       Principal
                Loans         Balance
<S>            <C>         <C>
0-29 Days             0            0.00
30 Days              14    4,165,500.24
60 Days               3      556,991.13
90 Days               0            0.00
120 Days              0            0.00
150 Days              0            0.00
180+ Days             0            0.00
               --------    ------------
                     17    4,722,491.37

                No. of       Principal
                 Loans        Balance
0-29 Days      0.000000%       0.000000%
30 Days        2.713178%       2.439258%
60 Days        0.581395%       0.326166%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------    ------------
               3.294574%       2.765424%
</TABLE>

              BANKRUPTCY
               1.183654%

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

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

           FORECLOSURE

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

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

                 REO

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

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

                 TOTAL

<TABLE>
<CAPTION>
                No. of       Principal
                Loans         Balance
<S>            <C>         <C>
0-29 Days             0            0.00
30 Days              14    4,165,500.24
60 Days               3      556,991.13
90 Days               0            0.00
120 Days              0            0.00
150 Days              0            0.00
180+ Days             0            0.00
               --------    ------------
                     17    4,722,491.37

                No. of       Principal
                 Loans        Balance
0-29 Days      0.000000%       0.000000%
30 Days        2.713178%       2.439258%
60 Days        0.581395%       0.326166%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------    ------------
               3.294574%       2.765424%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                    Fixed & Mixed Arm
<S>                                                       <C>
Weighted Average Gross Coupon                                     3.858837%
Weighted Average Net Coupon                                       3.513063%
Weighted Average Pass-Through Rate                                3.503563%
Weighted Average Maturity (Stepdown Calculation)                       301

Beginning Scheduled Collateral Loan Count                            1,929
Number of Loans Paid in Full                                            19
Ending Scheduled Collateral Loan Count                               1,910

Beginning Scheduled Collateral Balance                      701,868,477.24
Ending Scheduled Collateral Balance                         693,069,750.90
Ending Actual Collateral Balance at 31-Jan-2005             693,070,869.75

Monthly P&I Constant                                          2,256,996.42
Special Servicing Fee                                                 0.00
Prepayment Penalties                                                  0.00
Realization Loss Amount                                               0.00
Cumulative Realized Loss                                              0.00

Class A Optimal Amount                                       10,774,766.48

Scheduled Principal                                                   0.00
Unscheduled Principal                                         8,798,726.34
</TABLE>

MISCELLANEOUS REPORTING
Rapid Prepay Condition?                        NO

<PAGE>

<TABLE>
<CAPTION>
          GROUP                           POOL ONE             POOL TWO             POOL THREE             TOTAL
<S>                                    <C>                <C>                     <C>                <C>
Collateral Description                      Mixed ARM     6 Month LIBOR ARM            Mixed ARM     Fixed & Mixed ARM
Weighted Average Coupon Rate                 3.803709              3.765634             4.048051              3.858837
Weighted Average Net Rate                    3.426451              3.390634             3.798051              3.513063
Pass-Through Rate                            3.416951              3.381134             3.788551              3.503563
Weighted Average Maturity                         331                   335                  208                   301
Record Date                                01/31/2005            01/31/2005           01/31/2005            01/31/2005
Principal and Interest Constant          1,400,013.20            276,483.97           580,499.25          2,256,996.24
Beginning Loan Count                            1,169                   239                  521                 1,929
Loans Paid in Full                                  9                     5                    5                    10
Ending Loan Count                               1,160                   234                  516                 1,910
Beginning Scheduled Balance            441,678,340.17         88,107,534.79       172,082,602.28        701,868,477.24
Ending Scheduled Balance               436,592,822.42         85,707,746.37       170,769,182.11        693,069,750.90
Scheduled Principal                              0.00                  0.00                 0.00                  0.00
Unscheduled Principal                    5,085,517.75          2,399,788.42         1,313,420.17          8,798,726.34
Scheduled Interest                       1,400,013.20            276,483.97           580,499.25          2,256,996.42
Servicing Fee                              138,855.59             27,533.60            35,850.54            202,239.73
Master Servicing Fee                         3,496.62                697.52             1,362.32              5,556.46
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                             1,257,660.99            248,252.85           543,286.39          2,049,200.23
Realized Loss Amount                             0.00                  0.00                 0.00                  0.00
Cumulative Realized Loss                         0.00                  0.00                 0.00                  0.00
Percentage of Cumulative Losses                  0.00                  0.00                 0.00                  0.00
Prepayment Penalties                             0.00                  0.00                 0.00                  0.00
Special Servicing Fee                            0.00                  0.00                 0.00                  0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

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

One Month Libor Loan Balance           218,208,204.71
Six Month Libor Loan Balance           218,384,617.71
Principal Transfer Amount                        0.00
Pro Rata Senior Percent                     96.436181%
Senior Percent                             100.000000%
Senior Prepayment Percent                  100.000000%
Subordinate Percent                          0.000000%
Subordinate Prepayment Percent               0.000000%
Interest Transfer Amount                         0.00

Group Pool Two

Principal Transfer Amount                        0.00
Pro Rata Senior Percent                     96.458059%
Senior Percent                             100.000000%
Senior Prepayment Percent                  100.000000%
Subordinate Percent                          0.000000%
Subordinate Prepayment Percent               0.000000%
Interest Transfer Amount                         0.00

Group Pool Three

One Month Libor Loan Balance            85,435,951.10
Six Month Libor Loan Balance            85,333,231.01
Principal Transfer Amount                        0.00
Pro Rata Senior Percent                     96.402256%
Senior Percent                             100.000000%
Senior Prepayment Percent                  100.000000%
Subordinate Percent                          0.000000%
Subordinate Prepayment Percent               0.000000%
Interest Transfer Amount                         0.00
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}]]