Document:

<PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2003-2
                           RECORD DATE: APRIL 30, 2003
                         DISTRIBUTION DATE: MAY 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
                    Certificate                       Beginning
                       Class     Certificate Pass-   Certificate       Interest        Principal
Class     CUSIP     Description    Through Rate        Balance       Distribution    Distribution
-------------------------------------------------------------------------------------------------
<S>     <C>         <C>          <C>                <C>              <C>             <C>
A-1     81743PAP1       SEN         1.64781%        500,000,000.00     480,611.25    2,206,156.52
A-2     81743PAQ9       SEN         1.63313%        303,600,000.00     289,227.32    1,819,421.87
M-1     81743PAR7       SUB         1.96781%         11,480,000.00      13,177.77            0.00
M-2     81743PAS5       SUB         2.74781%          4,920,000.00       7,886.21            0.00
 X      SMT03002X        IO         0.00000%                  0.00           0.00            0.00
 R      SMT03002R       SUB         0.00000%                  0.00           0.00            0.00
-------------------------------------------------------------------------------------------------
Totals                                              820,000,000.00     790,902.55    4,025,578.39
-------------------------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------
             Current      Ending Certificate          Total        Cumulative
Class     Realized Loss         Balance           Distribution    Realized Loss
-------------------------------------------------------------------------------
<S>       <C>             <C>                     <C>             <C>
A-1           0.00          497,793,843.48        2,686,767.77        0.00
A-2           0.00          301,780,578.13        2,108,649.19        0.00
M-1           0.00           11,480,000.00           13,177.77        0.00
M-2           0.00            4,920,000.00            7,886.21        0.00
 X            0.00                    0.00                0.00        0.00
 R            0.00                    0.00                0.00        0.00
--------------------------------------------------------------------------
Totals        0.00          815,974,421.61        4,816,480.94        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
Class       Amount           Balance       Distribution   Distribution   Accretion
----------------------------------------------------------------------------------
<S>      <C>              <C>              <C>            <C>            <C>
 A-1     500,000,000.00   500,000,000.00       0.00       2,206,156.52      0.00
 A-2     303,600,000.00   303,600,000.00       0.00       1,819,421.87      0.00
 M-1      11,480,000.00    11,480,000.00       0.00               0.00      0.00
 M-2       4,920,000.00     4,920,000.00       0.00               0.00      0.00
  X                0.00             0.00       0.00               0.00      0.00
  R                0.00             0.00       0.00               0.00      0.00
--------------------------------------------------------------------------------
Totals   820,000,000.00   820,000,000.00       0.00       4,025,578.39      0.00
--------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------------------------
         Realized    Total Principal   Ending Certificate   Ending Certificate    Total Principal
Class     Loss (1)      Reduction           Balance             Percentage         Distribution
-------------------------------------------------------------------------------------------------
<S>      <C>         <C>               <C>                  <C>                   <C>
 A-1       0.00      2,206,156.52        497,793,843.48         0.99558769         2,206,156.52
 A-2       0.00      1,819,421.87        301,780,578.13         0.99400717         1,819,421.87
 M-1       0.00              0.00         11,480,000.00         1.00000000                 0.00
 M-2       0.00              0.00          4,920,000.00         1.00000000                 0.00
  X        0.00              0.00                  0.00         0.00000000                 0.00
  R        0.00              0.00                  0.00         0.00000000                 0.00
-----------------------------------------------------------------------------------------------
Totals      0.00     4,025,578.39        815,974,421.61         0.99509076         4,025,578.39
-----------------------------------------------------------------------------------------------
</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
Class       Amount           Balance       Distribution   Distribution   Accretion
-----------------------------------------------------------------------------------
<S>      <C>              <C>              <C>            <C>            <C>
A-1      500,000,000.00   1000.00000000     0.00000000     4.41231304    0.00000000
A-2      303,600,000.00   1000.00000000     0.00000000     5.99282566    0.00000000
M-1       11,480,000.00   1000.00000000     0.00000000     0.00000000    0.00000000
M-2        4,920,000.00   1000.00000000     0.00000000     0.00000000    0.00000000
 X                 0.00      0.00000000     0.00000000     0.00000000    0.00000000
 R                 0.00      0.00000000     0.00000000     0.00000000    0.00000000
-----------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------------------------
         Realized    Total Principal   Ending Certificate   Ending Certificate    Total Principal
Class     Loss (1)      Reduction           Balance             Percentage         Distribution
-------------------------------------------------------------------------------------------------
<S>      <C>         <C>               <C>                  <C>                   <C>
A-1      0.00000000    4.41231304         995.58768696        0.99558769            4.41231304
A-2      0.00000000    5.99282566         994.00717434        0.99400717            5.99282566
M-1      0.00000000    0.00000000        1000.00000000        1.00000000            0.00000000
M-2      0.00000000    0.00000000        1000.00000000        1.00000000            0.00000000
 X       0.00000000    0.00000000           0.00000000        0.00000000            0.00000000
 R       0.00000000    0.00000000           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
                                              Certificate/     Current      Unpaid      Current
         Original Face        Current           Notional       Accrued     Interest     Interest
 Class       Amount       Certificate Rate      Balance        Interest    Shortfall    Shortfall
-------------------------------------------------------------------------------------------------
<S>      <C>              <C>                <C>              <C>          <C>          <C>
  A-1    500,000,000.00       1.64781%       500,000,000.00   480,611.25      0.00        0.00
  A-2    303,600,000.00       1.63313%       303,600,000.00   289,227.32      0.00        0.00
  M-1     11,480,000.00       1.96781%        11,480,000.00    13,177.77      0.00        0.00
  M-2      4,920,000.00       2.74781%         4,920,000.00     7,886.21      0.00        0.00
   X               0.00       0.00000%       820,000,000.00         0.00      0.00        0.00
   R               0.00       0.00000%                 0.00         0.00      0.00        0.00
-------------------------------------------------------------------------------------------------
Totals   820,000,000.00                                       790,902.55      0.00        0.00
-------------------------------------------------------------------------------------------------

<CAPTION>
----------------------------------------------------------------------------
             Non-                                 Remaining       Ending
         Supported                                 Unpaid      Certificate/
          Interest   Realized    Total Interest   Interest      Notational
 Class   Shortfall    Loss (4)    Distribution    Shortfall       Balance
----------------------------------------------------------------------------
<S>      <C>         <C>         <C>              <C>         <C>
  A-1       0.00       0.00        480,611.25       0.00      497,793,843.48
  A-2       0.00       0.00        289,227.32       0.00      301,780,578.13
  M-1       0.00       0.00         13,177.77       0.00       11,480,000.00
  M-2       0.00       0.00          7,886.21       0.00        4,920,000.00
   X        0.00       0.00              0.00       0.00       815,974,421.6
   R        0.00       0.00              0.00       0.00                0.00
----------------------------------------------------------------------------
Totals      0.00       0.00        790,902.55       0.00
----------------------------------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                                                            Payment of
                           Current        Beginning                           Unpaid      Current
Class   Original Face    Certificate     Certificate/     Current Accrued    Interest    Interest
 (5)       Amount           Rate       Notional Balance      Interest        Shortfall   Shortfall
---------------------------------------------------------------------------------------------------
<S>     <C>              <C>           <C>                <C>               <C>          <C>
A-1     500,000,000.00    1.64781%      1000.00000000       0.96122250      0.00000000   0.00000000
A-2     303,600,000.00    1.63313%      1000.00000000       0.95265916      0.00000000   0.00000000
M-1      11,480,000.00    1.96781%      1000.00000000       1.14788937      0.00000000   0.00000000
M-2       4,920,000.00    2.74781%      1000.00000000       1.60288821      0.00000000   0.00000000
 X                0.00    0.00000%      1000.00000000       0.00000000      0.00000000   0.00000000
 R                0.00    0.00000%         0.00000000       0.00000000      0.00000000   0.00000000
---------------------------------------------------------------------------------------------------

<CAPTION>
------------------------------------------------------------------------------------
           Non-                                    Remaining
        Supported                                    Unpaid
Class   Interest      Realized    Total Interest   Interest      Ending Certificate/
 (5)    Shortfall     Loss (6)     Distribution    Shortfall     Notational Balance
------------------------------------------------------------------------------------
<S>     <C>          <C>          <C>              <C>           <C>
A-1     0.00000000   0.00000000     0.96122250     0.00000000       995.58768696
A-2     0.00000000   0.00000000     0.95265916     0.00000000       994.00717434
M-1     0.00000000   0.00000000     1.14788937     0.00000000      1000.00000000
M-2     0.00000000   0.00000000     1.60288821     0.00000000      1000.00000000
 X      0.00000000   0.00000000     0.00000000     0.00000000       995.09075806
 R      0.00000000   0.00000000     0.00000000     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.

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                    5,034,335.56
         Liquidations, Insurance Proceeds, Reserve Funds               0.00
         Proceeds from Repurchased Loans                               0.00
         Other Amounts (Servicer Advances)                         3,869.36
         Realized Losses                                               0.00
         Prepayment Penalties                                          0.00
                                                               ------------
Total Deposits                                                 5,038,204.92

Withdrawals
         Reimbursement for Servicer Advances                           0.00
         Payment of Service Fee                                  221,723.97
         Payment of Interest and Principal                     4,816,480.95
                                                               ------------
Total Withdrawals (Pool Distribution Amount)                   5,038,204.92

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

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

                                 SERVICING FEES

<TABLE>
<S>                                                            <C>
Gross Servicing Fee                                            217,686.30
Master Servicing Fee                                             4,037.67
Supported Prepayment/Curtailment Interest Shortfall                  0.00
                                                               ----------

Net Servicing Fee                                              221,723.97
                                                               ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                 Beginning      Current       Current    Ending
Account Type      Balance     Withdrawals    Deposits    Balance
----------------------------- -------------- ---------------------
<S>              <C>          <C>            <C>        <C>
Reserve Fund     10,000.00       0.00          0.00     10,000.00
</TABLE>

           LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

0-29 Days       0                0.00    0-29 Days       0             0.00   0-29 Days       0           0.00
30 Days         6        1,608,645.33    30 Days         0             0.00   30 Days         0           0.00
60 Days         0                0.00    60 Days         0             0.00   60 Days         0           0.00
90 Days         0                0.00    90 Days         0             0.00   90 Days         0           0.00
120 Days        0                0.00    120 Days        0             0.00   120 Days        0           0.00
150 Days        0                0.00    150 Days        0             0.00   150 Days        0           0.00
180+ Days       0                0.00    180+ Days       0             0.00   180+ Days       0           0.00
            --------------------------               ----------------------               --------------------
                6        1,608,645.33                    0             0.00                   0           0.00

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

0-29 Days   0.000000%        0.000000%   0-29 Days   0.000000%    0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.323974%        0.233383%   30 Days     0.000000%    0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%        0.000000%   60 Days     0.000000%    0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%        0.000000%   90 Days     0.000000%    0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%        0.000000%   120 Days    0.000000%    0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%        0.000000%   150 Days    0.000000%    0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%        0.000000%   180+ Days   0.000000%    0.000000%   180+ Days   0.000000%   0.000000%
            -------------------------                ---------------------                --------------------
            0.323974%        0.233383%               0.000000%    0.000000%               0.000000%   0.000000%
--------------------------------------------------------------------------------------------------------------

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

0-29 Days       0           0.00    0-29 Days       0               0.00
30 Days         0           0.00    30 Days         6       1,608,645.33
60 Days         0           0.00    60 Days         0               0.00
90 Days         0           0.00    90 Days         0               0.00
120 Days        0           0.00    120 Days        0               0.00
150 Days        0           0.00    150 Days        0               0.00
180+ Days       0           0.00    180+ Days       0               0.00
              -------------------                -----------------------
                0           0.00                    6       1,608,645.33

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%       0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.323974%       0.233383%
60 Days     0.000000%   0.000000%   60 Days     0.000000%       0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%       0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%       0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%       0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%       0.000000%
            --------------------                ------------------------
            0.000000%   0.000000%               0.323974%       0.233383%
------------------------------------------------------------------------
</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    3,869.36
</TABLE>
<PAGE>

                         DELINQUENCY STATUS BY GROUP

                                   GROUP 1

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

0-29 Days        0               0.00    0-29 Days       0           0.00     0-29 Days       0           0.00
30 Days          4       1,308,645.33    30 Days         0           0.00     30 Days         0           0.00
60 Days          0               0.00    60 Days         0           0.00     60 Days         0           0.00
90 Days          0               0.00    90 Days         0           0.00     90 Days         0           0.00
120 Days         0               0.00    120 Days        0           0.00     120 Days        0           0.00
150 Days         0               0.00    150 Days        0           0.00     150 Days        0           0.00
180+ Days        0               0.00    180+ Days       0           0.00     180+ Days       0           0.00
              -----------------------                --------------------                  -------------------
                 4       1,308,645.33                    0           0.00                     0           0.00

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

0-29 Days    0.000000%       0.000000%   0-29 Days   0.000000%   0.000000%    0-29 Days   0.000000%   0.000000%
30 Days      0.354610%       0.304989%   30 Days     0.000000%   0.000000%    30 Days     0.000000%   0.000000%
60 Days      0.000000%       0.000000%   60 Days     0.000000%   0.000000%    60 Days     0.000000%   0.000000%
90 Days      0.000000%       0.000000%   90 Days     0.000000%   0.000000%    90 Days     0.000000%   0.000000%
120 Days     0.000000%       0.000000%   120 Days    0.000000%   0.000000%    120 Days    0.000000%   0.000000%
150 Days     0.000000%       0.000000%   150 Days    0.000000%   0.000000%    150 Days    0.000000%   0.000000%
180+ Days    0.000000%       0.000000%   180+ Days   0.000000%   0.000000%    180+ Days   0.000000%   0.000000%
             ------------------------                --------------------                 --------------------
             0.354610%       0.304989%               0.000000%   0.000000%                0.000000%   0.000000%
--------------------------------------------------------------------------------------------------------------

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

0-29 Days         0          0.00    0-29 Days       0               0.00
30 Days           0.         0.00    30 Days         4       1,308,645.33
60 Days           0          0.00    60 Days         0               0.00
90 Days           0          0.00    90 Days         0               0.00
120 Days          0          0.00    120 Days        0               0.00
150 Days          0          0.00    150 Days        0               0.00
180+ Days         0          0.00    180+ Days       0               0.00
               -------------------                -----------------------
                  0          0.00                    4       1,308,645.33

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

0-29 Days     0.000000%  0.000000%   0-29 Days    0.000000%      0.000000%
30 Days       0.000000%  0.000000%   30 Days      0.354610%      0.304989%
60 Days       0.000000%  0.000000%   60 Days      0.000000%      0.000000%
90 Days       0.000000%  0.000000%   90 Days      0.000000%      0.000000%
120 Days      0.000000%  0.000000%   120 Days     0.000000%      0.000000%
150 Days      0.000000%  0.000000%   150 Days     0.000000%      0.000000%
180+ Days     0.000000%  0.000000%   180+ Days    0.000000%      0.000000%
             ---------------------                -----------------------
              0.000000%  0.000000%                0.354610%      0.304989%
-------------------------------------------------------------------------
</TABLE>

                                   GROUP 2

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

0-29 Days       0               0.00     0-29 Days       0           0.00   0-29 Days       0              0.00
30 Days         2         300,000.00     30 Days         0           0.00   30 Days         0              0.00
60 Days         0               0.00     60 Days         0           0.00   60 Days         0              0.00
90 Days         0               0.00     90 Days         0           0.00   90 Days         0              0.00
120 Days        0               0.00     120 Days        0           0.00   120 Days        0              0.00
150 Days        0               0.00     150 Days        0           0.00   150 Days        0              0.00
180+ Days       0               0.00     180+ Days       0           0.00   180+ Days       0              0.00
              ------------------------                 ------------------                   -------------------
                2         300,000.00                     0           0.00                   0              0.00

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

0-29 Days   0.000000%       0.000000%    0-29 Days   0.000000%   0.000000%    0-29 Days   0.000000%    0.000000%
30 Days     0.276243%       0.115299%    30 Days     0.000000%   0.000000%    30 Days     0.000000%    0.000000%
60 Days     0.000000%       0.000000%    60 Days     0.000000%   0.000000%    60 Days     0.000000%    0.000000%
90 Days     0.000000%       0.000000%    90 Days     0.000000%   0.000000%    90 Days     0.000000%    0.000000%
120 Days    0.000000%       0.000000%    120 Days    0.000000%   0.000000%    120 Days    0.000000%    0.000000%
150 Days    0.000000%       0.000000%    150 Days    0.000000%   0.000000%    150 Days    0.000000%    0.000000%
180+ Days   0.000000%       0.000000%    180+ Days   0.000000%   0.000000%    180+ Days   0.000000%    0.000000%
            ------------------------                 --------------------                 ---------------------
            0.276243%       0.115299%                0.000000%   0.000000%                0.000000%    0.000000%
---------------------------------------------------------------------------------------------------------------

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

0-29 Days       0           0.00    0-29 Days       0             0.00
30 Days         0           0.00    30 Days         2       300,000.00
60 Days         0           0.00    60 Days         0             0.00
90 Days         0           0.00    90 Days         0             0.00
120 Days        0           0.00    120 Days        0             0.00
150 Days        0           0.00    150 Days        0             0.00
180+ Days       0           0.00    180+ Days       0             0.00
              -------------------                 --------------------
                0           0.00                    2       300,000.00

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%     0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.276243%     0.115299%
60 Days     0.000000%   0.000000%   60 Days     0.000000%     0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%     0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%     0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%     0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%     0.000000%
            --------------------                ----------------------
            0.000000%   0.000000%               0.276243%     0.115299%
----------------------------------------------------------------------
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                          Mixed Arm
<S>                                                        <C>
Weighted Average Gross Coupon                                    3.711106%
Weighted Average Net Coupon                                      3.392541%
Weighted Average Pass-Through Rate                               3.326707%
Weighted Average Maturity (Stepdown Calculation)                      332

Beginning Scheduled Collateral Loan Count                           1,859
Number of Loans Paid in Full                                            7
Ending Scheduled Collateral Loan Count                              1,852

Beginning Scheduled Collateral Balance                     820,000,000.00
Ending Scheduled Collateral Balance                        689,271,692.68
Ending Actual Collateral Balance at 30-Apr-2003            689,271,881.88

Monthly P&I Constant                                         1,840,832.08
Special Servicing Fee                                                0.00
Prepayment Penalties                                                 0.00
Realized Loss Amount                                                 0.00
Cumulative Realized Loss                                             0.00

Ending Scheduled Balance for Premium Loans                 689,271,692.68

Scheduled Principal                                                  0.00
Unscheduled Principal                                        2,897,610.28

Required Overcollateralized Amount                                   0.00
Overcollateralized Increase Amount                           1,127,968.11
Overcollateralized Reduction Amount                                  0.00
Specified O/C Amount                                         2,050,000.00
Overcollateralized Amount                                    1,127,968.11
Overcollateralized Deficiency Amount                         2,050,000.00
Base Overcollateralization Amount                                    0.00

Extra Principal Distribution Amount                          1,127,968.11

Excess Cash Amount                                                   0.00

Group One Prefunding Balance                                79,536,812.16
Group Two Prefunding Balance                                48,293,884.88

Capitalized Interest Account Ending Balance                          0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                          <C>
M-1 Target Amount                            803,211,649.09
M-2 Target Amount                            813,016,877.77
Senior Target Amount                         780,332,782.18

Group 1 - One-Month LIBOR Loans              144,785,998.22
Group 1 - Six-Month LIBOR Loans              363,857,119.36
Group 2 - Six Month LIBOR Loans              308,486,272.14

Applied Loss Amountn                                      0
</TABLE>

<TABLE>
<CAPTION>
          GROUP                             1                2                TOTAL

<S>                                  <C>               <C>                <C>
Collateral Description                 Mixed ARM        6 Month ARM         Mixed ARM
Weighted Average Coupon Rate               3.680190          3.762022           3.711106
Weighted Average Net Rate                  3.303085          3.384139           3.392541
Pass-Through Rate                          3.296085          3.377139           3.326707
Weighted Average Maturity                       326               339                332
Record Date                              04/30/2003        04/30/2003         04/30/2003
Principal and Interest Constant        1,135,980.96        704,851.12       1,840,832.08
Beginning Loan Count                          1,132               727              1,859
Loans Paid in Full                                4                 3                  7
Ending Loan Count                             1,128               724              1,852
Beginning Scheduled Balance          430,667,296.31    261,502,006.65     692,169,302.96
Ending Scheduled Balance             429,079,305.42    260,192,387.26     689,271,692.68
Scheduled Principal                            0.00              0.00               0.00
Unscheduled Principal                  1,587,990.89      1,309,619.39       2,897,610.28
Scheduled Interest                     1,320,781.10        819,813.52       2,140,594.62
Servicing Fee                            135,338.69         82,347.61         217,686.30
Master Servicing Fee                       2,512.23          1,525.44           4,037.67
Trustee Fee                                    0.00              0.00               0.00
FRY Amount                                     0.00              0.00               0.00
Special Hazard Fee                             0.00              0.00               0.00
Other Fee                                      0.00              0.00               0.00
Pool Insurance Fee                             0.00              0.00               0.00
Spread 1                                       0.00              0.00               0.00
Spread 2                                       0.00              0.00               0.00
Spread 3                                       0.00              0.00               0.00
Net Interest                           1,182,930.18        735,940.47       1,918,870.65
Realized Loss Amount                           0.00              0.00               0.00
Cumulative Realized Loss                       0.00              0.00               0.00
Percentage of Cumulative Losses                0.00              0.00               0.00
Prepayment Penalties                           0.00              0.00               0.00
Special Servicing Fee                          0.00              0.00               0.00
</TABLE><PAGE>

                                  EXHIBIT 10.1

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

                               SMT SERIES 2002-12
                           RECORD DATE: APRIL 30, 2003
                         DISTRIBUTION DATE: MAY 20, 2003

                     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      81744BAA4     SEN         1.77938%      1,054,245,333.95   1,563,252.54   9,730,870.67        0.00
X-1     81744BAB2      IO         0.83813%                  0.00     171,861.28           0.00        0.00
X-2     81744BAC0      IO         1.20029%                  0.00     825,196.93           0.00        0.00
A-R     81744BAD8     SEN         3.43039%                  0.00           0.00           0.00        0.00
B-1     81744BAE6     SUB         2.17938%         16,815,000.00      30,538.56           0.00        0.00
B-2     81744BAF3     SUB         2.90275%          8,968,000.00      21,693.21           0.00        0.00
B-3     81744BAG1     SUB         2.90275%          6,165,000.00      14,912.87           0.00        0.00
B-4     SMT0212B4     SUB         2.90275%          2,802,000.00       6,777.92           0.00        0.00
B-5     SMT0212B5     SUB         2.90275%          1,681,000.00       4,066.27           0.00        0.00
B-6     SMT0212B6     SUB         2.90275%          4,486,095.46      10,851.67           0.00        0.00
-------------------------------------------------------------------------------------------------------------
Totals                                          1,095,162,429.41   2,649,151.25   9,730,870.67        0.00
-------------------------------------------------------------------------------------------------------------

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

         Ending Certificate     Total         Cumulative
Class         Balance        Distribution    Realized Loss
----------------------------------------------------------
<S>      <C>                 <C>             <C>
 A         1,044,514,463.28   11,294,123.21        0.00
X-1                    0.00      171,861.28        0.00
X-2                    0.00      825,196.93        0.00
A-R                    0.00            0.00        0.00
B-1           16,815,000.00       30,538.56        0.00
B-2            8,968,000.00       21,693.21        0.00
B-3            6,165,000.00       14,912.87        0.00
B-4            2,802,000.00        6,777.92        0.00
B-5            1,681,000.00        4,066.27        0.00
B-6            4,486,095.46       10,851.67        0.00
----------------------------------------------------------
Totals     1,085,431,558.74   12,380,021.92        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      1,080,076,000.00  1,054,245,333.95      0.00      9,730,870.67     0.00      0.00     9,730,870.67
X-1                 0.00              0.00      0.00              0.00     0.00      0.00             0.00
X-2                 0.00              0.00      0.00              0.00     0.00      0.00             0.00
A-R               100.00              0.00      0.00              0.00     0.00      0.00             0.00
B-1        16,815,000.00     16,815,000.00      0.00              0.00     0.00      0.00             0.00
B-2         8,968,000.00      8,968,000.00      0.00              0.00     0.00      0.00             0.00
B-3         6,165,000.00      6,165,000.00      0.00              0.00     0.00      0.00             0.00
B-4         2,802,000.00      2,802,000.00      0.00              0.00     0.00      0.00             0.00
B-5         1,681,000.00      1,681,000.00      0.00              0.00     0.00      0.00             0.00
B-6         4,486,095.46      4,486,095.46      0.00              0.00     0.00      0.00             0.00
      ------------------------------------------------------------------------------------------------------
Totals  1,120,993,195.46  1,095,162,429.41      0.00      9,730,870.67     0.00      0.00     9,730,870.67
------------------------------------------------------------------------------------------------------------

<CAPTION>
---------------------------------------------------------------
        Ending Certificate  Ending Certificate  Total Principal
Class        Balance            Percentage       Distribution
---------------------------------------------------------------
<S>     <C>                 <C>                 <C>
 A       1,044,514,463.28      0.96707497       9,730,870.67
X-1                  0.00      0.00000000               0.00
X-2                  0.00      0.00000000               0.00
A-R                  0.00      0.00000000               0.00
B-1         16,815,000.00      1.00000000               0.00
B-2          8,968,000.00      1.00000000               0.00
B-3          6,165,000.00      1.00000000               0.00
B-4          2,802,000.00      1.00000000               0.00
B-5          1,681,000.00      1.00000000               0.00
B-6          4,486,095.46      1.00000000               0.00
      ---------------------------------------------------------
Totals   1,085,431,558.74      0.96827667       9,730,870.67
---------------------------------------------------------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                              Beginning      Scheduled    Unscheduled
          Original Face      Certificate     Principal     Principal                Realized    Total Principal
Class         Amount           Balance      Distribution  Distribution  Accretion   Loss (3)       Reduction
---------------------------------------------------------------------------------------------------------------
<S>     <C>                 <C>             <C>           <C>           <C>         <C>         <C>
 A      1,080,076,000.00     976.08439957    0.00000000     9.00943144  0.00000000  0.00000000     9.00943144
X-1                 0.00       0.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000
X-2                 0.00       0.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000
A-R               100.00       0.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000
B-1        16,815,000.00    1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000
B-2         8,968,000.00    1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000
B-3         6,165,000.00    1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000
B-4         2,802,000.00    1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000
B-5         1,681,000.00    1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000
B-6         4,486,095.46    1000.00000000    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       967.07496813   0.96707497     9.00943144
X-1        0.00000000   0.00000000     0.00000000
X-2        0.00000000   0.00000000     0.00000000
A-R        0.00000000   0.00000000     0.00000000
B-1     1000.00000000   1.00000000     0.00000000
B-2     1000.00000000   1.00000000     0.00000000
B-3     1000.00000000   1.00000000     0.00000000
B-4     1000.00000000   1.00000000     0.00000000
B-5     1000.00000000   1.00000000     0.00000000
B-6     1000.00000000   1.00000000     0.00000000
---------------------------------------------------
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
                                                                            Payment of               Non-
                                               Beginning        Current      Unpaid     Current    Supported
          Original Face       Current         Certificate/      Accrued      Interest   Interest   Interest
Class        Amount       Certificate Rate  Notional Balance    Interest    Shortfall   Shortfall  Shortfall
------------------------------------------------------------------------------------------------------------
<S>     <C>               <C>               <C>               <C>           <C>         <C>        <C>
 A      1,080,076,000.00      1.77938%      1,054,245,333.95  1,563,252.55      0.00       0.00      0.00
X-1                 0.00      0.83813%        246,064,901.67    171,861.28      0.00       0.00      0.00
X-2                 0.00      1.20029%        824,995,432.28    825,196.93      0.00       0.00      0.00
A-R               100.00      3.43039%                  0.00          0.00      0.00       0.00      0.00
B-1        16,815,000.00      2.17938%         16,815,000.00     30,538.56      0.00       0.00      0.00
B-2         8,968,000.00      2.90275%          8,968,000.00     21,693.21      0.00       0.00      0.00
B-3         6,165,000.00      2.90275%          6,165,000.00     14,912.87      0.00       0.00      0.00
B-4         2,802,000.00      2.90275%          2,802,000.00      6,777.92      0.00       0.00      0.00
B-5         1,681,000.00      2.90275%          1,681,000.00      4,066.27      0.00       0.00      0.00
B-6         4,486,095.46      2.90275%          4,486,095.46     10,851.67      0.00       0.00      0.00
------------------------------------------------------------------------------------------------------------
Totals  1,120,993,195.46                                      2,649,151.26      0.00       0.00      0.00
------------------------------------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------
                                  Remaining     Ending
                                   Unpaid    Certificate/
        Realized  Total Interest  Interest    Notational
Class   Loss (4)   Distribution   Shortfall     Balance
-------------------------------------------------------------
<S>     <C>       <C>             <C>        <C>
 A        0.00     1,563,252.54      0.00    1,044,514,463.28
X-1       0.00       171,861.28      0.00      244,581,472.45
X-2       0.00       825,196.93      0.00      816,747,990.83
A-R       0.00             0.00      0.00                0.00
B-1       0.00        30,538.56      0.00       16,815,000.00
B-2       0.00        21,693.21      0.00        8,968,000.00
B-3       0.00        14,912.87      0.00        6,165,000.00
B-4       0.00         6,777.92      0.00        2,802,000.00
B-5       0.00         4,066.27      0.00        1,681,000.00
B-6       0.00        10,851.67      0.00        4,486,095.46
-------------------------------------------------------------
Totals    0.00     2,649,151.25      0.00
-------------------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
                                                                         Payment of                 Non-
                           Current       Beginning                        Unpaid      Current     Supported
Class   Original Face    Certificate    Certificate     Current Accrued  Interest     Interest     Interest
 (5)       Amount           Rate      Notional Balance     Interest      Shortfall    Shortfall   Shortfall
------------------------------------------------------------------------------------------------------------
<S>    <C>               <C>          <C>               <C>              <C>          <C>         <C>
 A     1,080,076,000.00    1.77938%     976.08439957      1.44735421      0.00000000  0.00000000  0.00000000
X-1                0.00    0.83813%     985.38555157      0.68823152      0.00000000  0.00000000  0.00000000
X-2                0.00    1.20029%     973.81747070      0.97405532      0.00000000  0.00000000  0.00000000
A-R              100.00    3.43039%       0.00000000      0.00000000      0.00000000  0.00000000  0.00000000
B-1       16,815,000.00    2.17938%    1000.00000000      1.81614987      0.00000000  0.00000000  0.00000000
B-2        8,968,000.00    2.90275%    1000.00000000      2.41895740      0.00000000  0.00000000  0.00000000
B-3        6,165,000.00    2.90275%    1000.00000000      2.41895702      0.00000000  0.00000000  0.00000000
B-4        2,802,000.00    2.90275%    1000.00000000      2.41895789      0.00000000  0.00000000  0.00000000
B-5        1,681,000.00    2.90275%    1000.00000000      2.41895895      0.00000000  0.00000000  0.00000000
B-6        4,486,095.46    2.90275%    1000.00000000      2.41895655      0.00000000  0.00000000  0.00000000
------------------------------------------------------------------------------------------------------------

<CAPTION>
------------------------------------------------------------------
                                   Remaining
                                    Unpaid
Class  Realized    Total Interest   Interest   Ending Certificate/
 (5)   Loss (6)     Distribution   Shortfall   Notational Balance
------------------------------------------------------------------
<S>    <C>         <C>             <C>         <C>
 A     0.00000000     1.44735420   0.00000000       967.07496813
X-1    0.00000000     0.68823152   0.00000000       979.44504681
X-2    0.00000000     0.97405532   0.00000000       964.08226217
A-R    0.00000000     0.00000000   0.00000000         0.00000000
B-1    0.00000000     1.81614987   0.00000000      1000.00000000
B-2    0.00000000     2.41895740   0.00000000      1000.00000000
B-3    0.00000000     2.41895702   0.00000000      1000.00000000
B-4    0.00000000     2.41895789   0.00000000      1000.00000000
B-5    0.00000000     2.41895895   0.00000000      1000.00000000
B-6    0.00000000     2.41895655   0.00000000      1000.00000000
------------------------------------------------------------------
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                                     <C>
Beginning Balance

Deposits
         Payments of Interest and Principal                             12,724,589.60
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                       0.00
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          12,724,589.60

Withdrawals
         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            344,567.68
         Payment of Interest and Principal                              12,380,021.92
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            12,724,589.60

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

Non-Supported Prepayment Curtailment Interest Shortfall                   0.01
                                                                          ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                     <C>
Gross Servicing Fee                                                     344,567.68
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       344,567.68
                                                                        ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
               Beginning     Current       Current     Ending
Account Type    Balance    Withdrawals    Deposits     Balance
---------------------------------------------------------------
<S>            <C>         <C>            <C>         <C>
Reserve Fund   10,000.00      0.00          0.00      10,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

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

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

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

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

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

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

<TABLE>
<CAPTION>
                    Original $    Original %       Current $      Current %
<S>               <C>             <C>            <C>              <C>
Bankruptcy           218,860.00   0.01952376%       218,860.00    0.02016341%
Fraud             33,629,796.00   3.00000001%    33,629,796.00    3.09828802%
Special Hazard    11,209,932.00   1.00000000%    10,854,315.59    1.00000000%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<S>                                                                             <C>
Collateral Description                                                                 Mixed ARM

Weighted Average Gross Coupon                                                           3.280301%
Weighted Average Net Coupon                                                             2.902749%
Weighted Average Pass-Through Rate                                                      2.902749%
Weighted Average Maturity (Stepdown Calculation)                                             321

Beginning Scheduled Collateral Loan Count                                                  3,130
Number of Loans Paid in Full                                                                  24
Ending Scheduled Collateral Loan Count                                                     3,106

Beginning Scheduled Collateral Balance                                          1,095,162,429.41
Ending Scheduled Collateral Balance                                             1,085,431,558.74
Ending Actual Collateral Balance at 30-Apr-2003                                 1,085,432,609.43

Monthly P&I Constant                                                                2,993,718.92
Special Servicing Fee                                                                       0.00
Prepayment Penalties                                                                        0.00
Realization Loss Amount                                                                     0.00
Cumulative Realized Loss                                                                    0.00

Ending Scheduled Balance for Premium Loans                                      1,085,431,558.74

Scheduled Principal                                                                         0.00
Unscheduled Principal                                                               9,730,870.67
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Principal Balance of 1-Month Libor Loans                         250,135,757.15
Principal Balance of 6-Month Libor Loans                         835,295,801.59
Pro Rata Senior Percentage                                            96.263833%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
Payment Received from Cap Provide                                             0
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]