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 2004-6
                          RECORD DATE: AUGUST 31, 2004
                      DISTRIBUTION DATE: SEPTEMBER 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate                       Beginning
                      Class     Certificate Pass-   Certificate      Interest     Principal
Class     CUSIP    Description     Through Rate       Balance      Distribution  Distribution
------  ---------  -----------  -----------------  --------------  ------------  -------------
<S>     <C>        <C>          <C>                <C>             <C>           <C>
 A-1    81744FCG0      SEN          2.80364%       487,737,776.98  1,139,533.82   4,740,808.39
 A-2    81744FCH8      SEN          1.88000%       181,840,305.20    284,883.14   2,780,961.00
A-3-A   81744FCJ4      SEN          2.16375%       191,970,670.81    346,147.12   2,567,196.69
A-3-B   81744FCU9      SEN          2.30625%         3,419,324.93      6,571.52      45,726.15
 X-A    81744FCK1       IO           0.74591%                 0.00    234,481.81           0.00
 X-B    81744FCL9       IO          0.55007%                 0.00     11,448.81           0.00
 B-1    81744FCN5      SUB          2.10000%        15,725,000.00     27,518.75           0.00
 B-2    81744FCP0      SUB          2.48000%         9,250,000.00     19,116.67           0.00
 B-3    81744FCQ8      SUB          2.79081%         5,550,000.00     12,907.50           0.00
 B-4    81744FCR6      SUB          2.79081%         2,313,000.00      5,379.29           0.00
 B-5    81744FCS4      SUB          2.79081%         2,313,000.00      5,379.29           0.00
 B-6    81744FCT2      SUB          2.79081%         4,166,584.59      9,690.13           0.00
 A-R    81744FCM7       R           2.80455%                 0.00          0.13           0.00
                                                   --------------  ------------  -------------
Totals                                             904,285,662.51  2,103,057.52  10,134,692.23
                                                   --------------  ------------  -------------

<CAPTION>
                      Current     Ending Certificate      Total       Cumulative
Class     CUSIP    Realized Loss        Balance       Distribution   Realized Loss
------  ---------  -------------  ------------------  -------------  -------------
<S>     <C>        <C>            <C>                 <C>            <C>
 A-1    81744FCG0     0.00        482,996,968.59       5,880,342.21      0.00
 A-2    81744FCH8     0.00        179,059,344.20       3,065,844.14      0.00
A-3-A   81744FCJ4     0.00        189,403,474.12       2,913,343.81      0.00
A-3-B   81744FCU9     0.00          3,373,598.78          52,297.67      0.00
 X-A    81744FCK1     0.00                  0.00         234,481.81      0.00
 X-B    81744FCL9     0.00                  0.00          11,448.35      0.00
 B-1    81744FCN5     0.00         15,725,000.00          27,518.75      0.00
 B-2    81744FCP0     0.00          9,250,000.00          19,116.67      0.00
 B-3    81744FCQ8     0.00          5,550,000.00          12,907.50      0.00
 B-4    81744FCR6     0.00          2,313,000.00           5,379.29      0.00
 B-5    81744FCS4     0.00          2,313,000.00           5,379.29      0.00
 B-6    81744FCT2     0.00          4,166,584.59           9,690.13      0.00
 A-R    81744FCM7     0.00                  0.00               0.13      0.00
                      ----        --------------      -------------      ----
Totals                0.00        894,150,970.28      12,237,749.75      0.00
                      ----        --------------      -------------      ----
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                          Beginning       Scheduled    Unscheduled
        Original Face    Certificate      Principal     Principal               Realized
Class       Amount         Balance      Distribution   Distribution  Accretion  Loss (1)
------  --------------  --------------  ------------  -------------  ---------  --------
<S>     <C>             <C>             <C>           <C>            <C>        <C>
 A-1    500,000,000.00  487,737,776.98    1,634.35     4,739,174.04    0.00       0.00
 A-2    185,687,000.00  181,840,305.20      221.00     2,780,740.00    0.00       0.00
 A-3    196,500,000.00  191,970,670.81      999.12     2,566,197.57    0.00       0.00
 X-1      3,500,000.00    3,419,324.93       17.80        45,708.35    0.00       0.00
 X-2              0.00            0.00        0.00             0.00    0.00       0.00
 X-B              0.00            0.00        0.00             0.00    0.00       0.00
 B-1     15,725,000.00   15,725,000.00        0.00             0.00    0.00       0.00
 B-2      9,250,000.00    9,250,000.00        0.00             0.00    0.00       0.00
 B-3      5,550,000.00    5,550,000.00        0.00             0.00    0.00       0.00
 B-4      2,313,000.00    2,313,000.00        0.00             0.00    0.00       0.00
 B-5      2,313,000.00    2,313,000.00        0.00             0.00    0.00       0.00
 B-6      4,166,584.59    4,166,584.59        0.00             0.00    0.00       0.00
 A-R            100.00            0.00        0.00             0.00    0.00       0.00
        --------------  --------------    --------    -------------    ----       ----
Totals  925,004,684.59  904,285,662.51    2,872.27    10,131,819.96    0.00       0.00
        --------------  --------------    --------    -------------    ----       ----

<CAPTION>
        Total Principal  Ending Certificate  Ending Certificate  Total Principal
Class      Reduction          Balance            Percentage       Distribution
------  ---------------  ------------------  ------------------  ---------------
<S>     <C>              <C>                 <C>                 <C>
 A-1     4,740,808.39      482,996,968.59        0.96599394        4,740,808.39
 A-2     2,780,961.00      179,059,344.20        0.96430738        2,780,961.00
 A-3     2,567,196.69      189,403,474.12        0.96388536        2,567,196.69
 X-1        45,726.15        3,373,598.78        0.96388537           45,726.15
 X-2             0.00                0.00        0.00000000                0.00
 X-B             0.00                0.00        0.00000000                0.00
 B-1             0.00       15,725,000.00        1.00000000                0.00
 B-2             0.00        9,250,000.00        1.00000000                0.00
 B-3             0.00        5,550,000.00        1.00000000                0.00
 B-4             0.00        2,313,000.00        1.00000000                0.00
 B-5             0.00        2,313,000.00        1.00000000                0.00
 B-6             0.00        4,166,584.59        1.00000000                0.00
 A-R             0.00                0.00        0.00000000                0.00
        -------------      --------------        ----------       --------------
Totals  10,134,692.23      894,150,970.28        0.96664480       10,134,692.23
        -------------      --------------        ----------       --------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                         Beginning      Scheduled    Unscheduled
       Original Face    Certificate     Principal     Principal                 Realized
Class      Amount         Balance      Distribution  Distribution  Accretion    Loss (3)
-----  -------------    -----------    ------------  ------------  ----------  ----------
<S>    <C>              <C>            <C>           <C>           <C>         <C>
 A-1   500,000,000.00   975.47555396    0.00326870     9.47834808  0.00000000  0.00000000
 A-2   185,687,000.00   979.28398434    0.00119017    14.97541562  0.00000000  0.00000000
 A-3   196,500,000.00   976.94997868    0.00508458    13.05952962  0.00000000  0.00000000
 X-1     3,500,000.00   976.94998000    0.00508571    13.05952857  0.00000000  0.00000000
 X-2             0.00     0.00000000    0.00000000     0.00000000  0.00000000  0.00000000
 X-B             0.00     0.00000000    0.00000000     0.00000000  0.00000000  0.00000000
 B-1    15,725,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000
 B-2     9,250,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000
 B-3     5,550,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000
 B-4     2,313,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000
 B-5     2,313,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000
 B-6     4,166,584.59  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000
 A-R           100.00     0.00000000    0.00000000     0.00000000  0.00000000  0.00000000

<CAPTION>
        Total Principal  Ending Certificate  Ending Certificate  Total Principal
Class      Reduction          Balance            Percentage       Distribution
-----   ---------------  ------------------  ------------------  ---------------
<S>     <C>              <C>                 <C>                 <C>
 A-1       9.48161678       965.99393718         0.96599394         9.48161678
 A-2      14.97660579       964.30737855         0.96430738        14.97660579
 A-3      13.06461420       963.88536448         0.96388536        13.06461420
 X-1      13.06461429       963.88536571         0.96388537        13.06461429
 X-2       0.00000000         0.00000000         0.00000000         0.00000000
 X-B       0.00000000         0.00000000         0.00000000         0.00000000
 B-1       0.00000000      1000.00000000         1.00000000         0.00000000
 B-2       0.00000000      1000.00000000         1.00000000         0.00000000
 B-3       0.00000000      1000.00000000         1.00000000         0.00000000
 B-4       0.00000000      1000.00000000         1.00000000         0.00000000
 B-5       0.00000000      1000.00000000         1.00000000         0.00000000
 B-6       0.00000000      1000.00000000         1.00000000         0.00000000
 A-R       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                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    500,000,000.00      2.80364%      487,737,776.98  1,139,533.82     0.00        0.00      0.00       0.00
 A-2    185,687,000.00      1.88000%      181,840,305.20    284,883.14     0.00        0.00      0.00       0.00
 A-3    196,500,000.00      2.16375%      191,970,670.81    346,147.12     0.00        0.00      0.00       0.00
 X-1      3,500,000.00      2.30625%        3,419,324.93      6,571.52     0.00        0.00      0.00       0.00
 X-2              0.00      0.74591%      377,230,300.94    234,481.81     0.00        0.00      0.00       0.00
 X-B              0.00      0.55007%       24,975,000.00     11,448.35     0.00        0.00      0.00       0.00
 B-1     15,725,000.00      2.10000%       15,725,000.00     27,518.75     0.00        0.00      0.00       0.00
 B-2      9,250,000.00      2.48000%        9,250,000.00     19,116.67     0.00        0.00      0.00       0.00
 B-3      5,550,000.00      2.79081%        5,550,000.00     12,907.50     0.00        0.00      0.00       0.00
 B-4      2,313,000.00      2.79081%        2,313,000.00      5,379.29     0.00        0.00      0.00       0.00
 B-5      2,313,000.00      2.79081%        2,313,000.00      5,379.29     0.00        0.00      0.00       0.00
 B-6      4,166,584.59      2.79081%        4,166,584.59      9,690.13     0.00        0.00      0.00       0.00
 A-R            100.00      2.80455%                0.00          0.00     0.00        0.00      0.00       0.00
        --------------                                    ------------     ----        ----      ----       ----
Totals  925,004,684.59                                    2,103,057.39     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     1,139,533.82      0.00    482,996,968.59
 A-2       284,883.14      0.00    179,059,344.20
 A-3       346,147.12      0.00    189,403,474.12
 X-1         6,571.52      0.00      3,373,598.78
 X-2       234,481.81      0.00    371,836,417.10
 X-B        11,448.35      0.00     24,975,000.00
 B-1        27,518.75      0.00     15,725,000.00
 B-2        19,116.67      0.00      9,250,000.00
 B-3        12,907.50      0.00      5,550,000.00
 B-4         5,379.29      0.00      2,313,000.00
 B-5         5,379.29      0.00      2,313,000.00
 B-6         9,690.13      0.00      4,166,584.59
 A-R             0.13      0.00              0.00
         ------------      ----
Totals   2,103,057.52      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   500,000,000.00    2.80364%     975.47555396      2.27906764     0.00000000  0.00000000  0.00000000  0.00000000
 A-2   185,687,000.00    1.88000%     979.28398434      1.53421155     0.00000000  0.00000000  0.00000000  0.00000000
 A-3   196,500,000.00    2.16375%     976.94997868      1.76156295     0.00000000  0.00000000  0.00000000  0.00000000
 X-1     3,500,000.00    2.30625%     976.94998000      1.87757714     0.00000000  0.00000000  0.00000000  0.00000000
 X-2             0.00    0.74591%     978.07367357      0.60795881     0.00000000  0.00000000  0.00000000  0.00000000
 X-B             0.00    0.55007%    1000.00000000      0.45839239     0.00000000  0.00000000  0.00000000  0.00000000
 B-1    15,725,000.00    2.10000%    1000.00000000      1.75000000     0.00000000  0.00000000  0.00000000  0.00000000
 B-2     9,250,000.00    2.48000%    1000.00000000      2.06666703     0.00000000  0.00000000  0.00000000  0.00000000
 B-3     5,550,000.00    2.79081%    1000.00000000      2.32567568     0.00000000  0.00000000  0.00000000  0.00000000
 B-4     2,313,000.00    2.79081%    1000.00000000      2.32567661     0.00000000  0.00000000  0.00000000  0.00000000
 B-5     2,313,000.00    2.79081%    1000.00000000      2.32567661     0.00000000  0.00000000  0.00000000  0.00000000
 B-6     4,166,584.59    2.79081%    1000.00000000      2.32567701     0.00000000  0.00000000  0.00000000  0.00000000
 A-R           100.00    2.80455%       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     2.27906764    0.00000000      965.99393718
 A-2     1.53421155    0.00000000      964.30737855
 A-3     1.76156295    0.00000000      963.88536448
 X-1     1.87757714    0.00000000      963.88536571
 X-2     0.60795881    0.00000000      964.08854097
 X-B     0.45839239    0.00000000     1000.00000000
 B-1     1.75000000    0.00000000     1000.00000000
 B-2     2.06666703    0.00000000     1000.00000000
 B-3     2.32567568    0.00000000     1000.00000000
 B-4     2.32567661    0.00000000     1000.00000000
 B-5     2.32567661    0.00000000     1000.00000000
 B-6     2.32567701    0.00000000     1000.00000000
 A-R     1.30000000    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                         12,543,845.36
            Liquidations, Insurance Proceeds, Reserve Funds                     0.00
            Proceeds from Repurchased Loans                                     0.00
            Other Amounts (Servicer Advances)                              12,920.67
            Realized Losses (Gains, Subsequent Expenses & Recoveries)           0.00
            Prepayment Penalties                                                0.00
                                                                       -------------
Total Deposits                                                         12,556,766.03

Withdrawals
            Reimbursement for Servicer Advances                            31,171.90
            Payment of Service Fee                                        287,844.39
            Payment of Interest and Principal                          12,237,749.74
                                                                       -------------
Total Withdrawals (Pool Distribution Amount)                           12,556,766.03

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                                       282,946.18
Master Servicing Fee                                        4,898.21
Supported Prepayment/Curtailment Interest Shortfall             0.00
                                                          ----------
Net Servicing Fee                                         287,844.39
                                                          ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                         Beginning      Current     Current      Ending
          Account Type                    Balance     Withdrawals   Deposits    Balance
---------------------------------        ---------    -----------   --------   ---------
<S>                                      <C>          <C>           <C>        <C>
Class X-A Pool 2 Comp Sub Account        4,500.00         0.00        0.00     4,500.00
Class X-A Pool 3 Comp Sub Account        4,500.00         0.00        0.00     4,500.00
Class X-B Sub Account                    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         14        4,543,318.86
60 Days          2          706,000.00
90 Days          0                0.00
120 Days         0                0.00
150 Days         0                0.00
180+ Days        0                0.00
                --        ------------
                16        5,249,318.86
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
0-29 Days      0.000000%  0.000000%
30 Days        0.509276%  0.508115%
60 Days        0.072754%  0.078958%
90 Days        0.000000%  0.000000%
120 Days       0.000000%  0.000000%
150 Days       0.000000%  0.000000%
180+ Days      0.000000%  0.000000%
               --------   --------
               0.582030%  0.587073%
</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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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
</TABLE>

<TABLE>
<CAPTION>
                 No. of    Principal
                 Loans      Balance
<S>            <C>        <C>
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       4,543,318.86
60 Days           2         706,000.00
90 Days           0               0.00
120 Days          0               0.00
150 Days          0               0.00
180+ Days         0               0.00
                 --       ------------
                 16       5,249,318.86
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
0-29 Days      0.000000%  0.000000%
30 Days        0.509276%  0.508115%
60 Days        0.072754%  0.078958%
90 Days        0.000000%  0.000000%
120 Days       0.000000%  0.000000%
150 Days       0.000000%  0.000000%
180+ Days      0.000000%  0.000000%
               --------   --------
               0.582030%  0.587073%
</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  12,920.67
</TABLE>

<TABLE>
<CAPTION>
               Original $        Original%      Current $       Current %     Current Class %  Prepayment %
              -------------     ----------    -------------    ----------     ---------------  ------------
<S>           <C>               <C>           <C>              <C>            <C>              <C>
Class A       39,317,584.59     4.25052816%   39,317,584.59    4.39719755%       95.602802%      0.000000%
Class B-1     23,592,584.59     2.55053677%   23,592,584.59    2.63854599%        1.758652%     39.994827%
Class B-2     14,342,584.59     1.55054183%   14,342,584.59    1.60404507%        1.034501%     23.526369%
Class B-3      8,792,584.59     0.95054487%    8,792,584.59    0.98334452%        0.620701%     14.115821%
Class B-4      6,479,584.59     0.70049208%    6,479,584.59    0.72466337%        0.258681%      5.882864%
Class B-5      4,166,584.59     0.45043930%    4,166,584.59    0.46598223%        0.258681%      5.882864%
Class B-6              0.00     0.00000000%            0.00    0.00000000%        0.465982%     10.597255%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                   DELINQUENT
GROUP ONE

<TABLE>
<CAPTION>
               No. of       Principal
               Loans         Balance
<S>            <C>        <C>
0-29 Days         0               0.00
30 Days           9       3,370,853.03
60 Days           1         282,000.00
90 Days           0               0.00
120 Days          0               0.00
150 Days          0               0.00
180+ Days         0               0.00
                 --       ------------
                 10       3,652,853.03
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
0-29 Days      0.000000%  0.000000%
30 Days        0.573248%  0.667243%
60 Days        0.063694%  0.055820%
90 Days        0.000000%  0.000000%
120 Days       0.000000%  0.000000%
150 Days       0.000000%  0.000000%
180+ Days      0.000000%  0.000000%
               --------   --------
               0.636943%  0.723063%
</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
</TABLE>

<TABLE>
<CAPTION>
                No. of    Principal
                Loans      Balance
<S>            <C>        <C>
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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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
</TABLE>

<TABLE>
<CAPTION>
                No. of    Principal
                Loans      Balance
<S>            <C>        <C>
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          9        3,370,853.03
60 Days          1          282,000.00
90 Days          0                0.00
120 Days         0                0.00
150 Days         0                0.00
180+ Days        0                0.00
                --        ------------
                10        3,652,853.03
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
0-29 Days      0.000000%  0.000000%
30 Days        0.573248%  0.667243%
60 Days        0.063694%  0.055820%
90 Days        0.000000%  0.000000%
120 Days       0.000000%  0.000000%
150 Days       0.000000%  0.000000%
180+ Days      0.000000%  0.000000%
               --------   --------
               0.636943%  0.723063%
</TABLE>

                                   DELINQUENT

GROUP TWO

<TABLE>
<CAPTION>
               No. of      Principal
               Loans        Balance
<S>            <C>        <C>
0-29 Days         0             0.00
30 Days           3       733,465.83
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
                 --       ----------
                  3       733,465.83
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
0-29 Days      0.000000%  0.000000%
30 Days        0.566038%  0.391590%
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%
               --------   --------
               0.566038%  0.391590%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
              1.183654%
               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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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          3        733,465.83
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
                --        ----------
                 3        733,465.83
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
0-29 Days      0.000000%  0.000000%
30 Days        0.566038%  0.391590%
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%
               --------   --------
               0.566038%  0.391590%
</TABLE>

<PAGE>

                                   DELINQUENT

GROUP THREE

<TABLE>
<CAPTION>
               No. of      Principal
               Loans        Balance
<S>            <C>        <C>
0-29 Days        0              0.00
30 Days          2        439,000.00
60 Days          1        424,000.00
90 Days          0              0.00
120 Days         0              0.00
150 Days         0              0.00
180+ Days        0              0.00
                --        ----------
                 3        863,000.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
0-29 Days      0.000000%  0.000000%
30 Days        0.308166%  0.217698%
60 Days        0.154083%  0.210260%
90 Days        0.000000%  0.000000%
120 Days       0.000000%  0.000000%
150 Days       0.000000%  0.000000%
180+ Days      0.000000%  0.000000%
               --------   --------
               0.462250%  0.427958%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
              1.183654%
               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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
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          2        439,000.00
60 Days          1        424,000.00
90 Days          0              0.00
120 Days         0              0.00
150 Days         0              0.00
180+ Days        0              0.00
                --        ----------
                 3        863,000.00
</TABLE>

<TABLE>
<CAPTION>
                 No. of   Principal
                 Loans     Balance
<S>            <C>        <C>
0-29 Days      0.000000%  0.000000%
30 Days        0.308166%  0.217698%
60 Days        0.154083%  0.210260%
90 Days        0.000000%  0.000000%
120 Days       0.000000%  0.000000%
150 Days       0.000000%  0.000000%
180+ Days      0.000000%  0.000000%
               --------   --------
               0.462250%  0.427958%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                            Mixed Arm
<S>                                                            <C>
Weighted Average Gross Coupon                                        3.173308%
Weighted Average Net Coupon                                          2.797835%
Weighted Average Pass-Through Rate                                   2.790788%
Weighted Average Maturity (Stepdown Calculation)                          342

Beginning Scheduled Collateral Loan Count                               2,770
Number of Loans Paid in Full                                               21
Ending Scheduled Collateral Loan Count                                  2,749

Beginning Scheduled Collateral Balance                         904,285,662.51
Ending Scheduled Collateral Balance                            894,150,970.28
Ending Actual Collateral Balance at 31-Aug-2004                894,151,435.34

Monthly P&I Constant                                             2,394,183.19
Special Servicing Fee                                                    0.00
Prepayment Penalties                                                     0.00
Realization Loss Amount                                                  0.00
Cumulative Realized Loss                                                 0.00

Class A Optimal Amount                                          12,146,309.64

Scheduled Principal                                                  2,868.74
Unscheduled Principal                                           10,131,823.49
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                             <C>
Rapid Prepayment Condition?                                     NO
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
           GROUP                                GROUP ONE              GROUP TWO       GROUP THREE           TOTAL
<S>                                         <C>                     <C>             <C>                   <C>
Collateral Description                      6 Month LIBOR ARM            Mixed ARM  6 Month LIBOR ARM          Mixed ARM
Weighted Average Coupon Rate                         3.185955             3.139648           3.173062           3.173308
Weighted Average Net Rate                            2.810658             2.764142           2.797177           2.797835
Pass-Through Rate                                    2.803639             2.756672           2.790452           2.790788
Weighted Average Maturity                                 343                  338                343                342
Record Date                                        08/31/2004           08/31/2004         08/31/2004         08/31/2004
Principal and Interest Constant                  1,355,480.81           497,555.92         541,146.46       2,394,183.19
Beginning Loan Count                                    1,578                  537                655              2,770
Loans Paid in Full                                          8                    7                  6                 21
Ending Loan Count                                       1,570                  530                649              2,749
Beginning Scheduled Balance                    509,931,932.80       190,085,617.84     204,268,111.87     904,285,662.51
Ending Scheduled Balance                       505,191,124.41       187,304,656.84     201,655,189.03     894,150,970.28
Scheduled Principal                                  1,630.82               221.00           1,016.92           2,868.74
Unscheduled Principal                            4,739,177.57         2,780,740.00       2,611,905.92      10,131,823.49
Scheduled Interest                               1,353,849.99           497,334.92         540,129.54       2,391,314.45
Servicing Fee                                      159,479.74            59,481.95          63,984.49         282,946.18
Master Servicing Fee                                 2,762.13             1,029.63           1,106.45           4,898.21
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                                              220.44               153.54              38.29             412.27
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                                     1,191,387.68           436,669.80         475,000.31       2,103,057.79
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 One

Pro-Rata Senior Percent                   95.647624%
Senior Percent                           100.000000%
Senior Prepay Percent                    100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepay Percent                 0.000000%
Interest Transfer Amount                       0.00
Principal Transfer Amount                      0.00

Group Two

Pro-Rata Senior Percent                   95.662316%
Senior Percent                           100.000000%
Senior Prepay Percent                    100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepay Percent                 0.000000%
Interest Transfer Amount                       0.00
Principal Transfer Amount                      0.00

Group Three

Pro-Rata Senior Percent                   95.653695%
Senior Percent                           100.000000%
Senior Prepay Percent                    100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepay Percent                 0.000000%
Interest Transfer Amount                       0.00
Principal Transfer Amount                      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 2003-8
                        RECORD DAT-- CE: AUGUST 31, 2004
                      DISTRIBUTION DATE: SEPTEMBER 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                  Certificate  Certificate       Beginning
                     Class        Pass-         Certificate        Interest       Principal
Class    CUSIP    Description  Through Rate       Balance        Distribution    Distribution
-----    -----    -----------  ------------     -----------      ------------    ------------
<S>    <C>        <C>          <C>            <C>               <C>             <C>
 A-1   81743PDX1      SEN        1.92000%     717,050,728.58    1,147,281.17    11,008,801.82
 X-1   81743PDZ6       IO        0.61879%               0.00      359,877.60             0.00
 A-2   81743PDY9      SEN        2.21063%     140,605,621.21      259,022.50     4,335,320.03
 X-2   81743PEA0       IO        0.11370%               0.00       81,263.06             0.00
 B-1   81743PED4      SUB        2.19000%      14,166,000.00       25,852.95             0.00
 X-B   81743PEB8       IO        0.24908%               0.00        2,830.75             0.00
 B-2   81743PEE2      SUB        2.85000%       8,304,000.00       19,722.00             0.00
 B-3   81743PEF9      SUB        2.58508%       4,884,000.00       10,521.29             0.00
 B-4   81743PEG7      SUB        2.58508%       2,443,000.00        5,262.80             0.00
 B-5   81743PEH5      SUB        2.58508%       1,465,000.00        3,155.95             0.00
 B-6   81743PEJ1      SUB        2.58508%       3,908,267.00        8,419.33             0.00
 A-R   81743PEC6      RES        2.56251%               0.00            0.00             0.00
                                              --------------    ------------    -------------
Totals                                        892,826,616.79    1,923,209.40    15,344,121.85
                                              --------------    ------------    -------------

<CAPTION>
                     Current        Ending Certificate      Total         Cumulative
Class    CUSIP     Realized Loss         Balance         Distribution    Realized Loss
-----    -----     -------------    ------------------   ------------    -------------
<S>    <C>         <C>              <C>                  <C>             <C>
 A-1   81743PDX1       0.00           706,041,926.76     12,156,082.99        0.00
 X-1   81743PDZ6       0.00                     0.00        359,877.60        0.00
 A-2   81743PDY9       0.00           136,270,301.18      4,594,342.53        0.00
 X-2   81743PEA0       0.00                     0.00         81,263.06        0.00
 B-1   81743PED4       0.00            14,166,000.00         25,852.95        0.00
 X-B   81743PEB8       0.00                     0.00          2,830.75        0.00
 B-2   81743PEE2       0.00             8,304,000.00         19,722.00        0.00
 B-3   81743PEF9       0.00             4,884,000.00         10,521.29        0.00
 B-4   81743PEG7       0.00             2,443,000.00          5,262.80        0.00
 B-5   81743PEH5       0.00             1,465,000.00          3,155.95        0.00
 B-6   81743PEJ1       0.00             3,908,267.00          8,419.33        0.00
 A-R   81743PEC6       0.00                     0.00              0.00        0.00
                       ----           --------------     -------------        ----
Totals                 0.00           877,482,494.94     17,267,331.25        0.00
                       ----           --------------     -------------        ----
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                Beginning        Scheduled      Unscheduled
            Original Face      Certificate       Principal        Principal                    Realized
Class         Amount             Balance        Distribution    Distribution     Accretion     Loss (1)
-----     ---------------    --------------    -------------   -------------     ---------     --------
<S>       <C>                <C>               <C>             <C>               <C>           <C>
 A-1      791,768,000.00     717,050,728.58         0.00       11,008,801.82        0.00         0.00
 X-1                0.00               0.00         0.00                0.00        0.00         0.00
 A-2      150,000,000.00     140,605,621.21         0.00        4,335,320.03        0.00         0.00
 X-2                0.00               0.00         0.00                0.00        0.00         0.00
 B-1       14,166,000.00      14,166,000.00         0.00                0.00        0.00         0.00
 X-B                0.00               0.00         0.00                0.00        0.00         0.00
 B-2        8,304,000.00       8,304,000.00         0.00                0.00        0.00         0.00
 B-3        4,884,000.00       4,884,000.00         0.00                0.00        0.00         0.00
 B-4        2,443,000.00       2,443,000.00         0.00                0.00        0.00         0.00
 B-5        1,465,000.00       1,465,000.00         0.00                0.00        0.00         0.00
 B-6        3,908,267.00       3,908,267.00         0.00                0.00        0.00         0.00
 A-R              100.00               0.00         0.00                0.00        0.00         0.00
          --------------     -------------          ----       -------------        ----         ----
Totals    976,938,367.00     892,826,616.79         0.00       15,344,121.85        0.00         0.00
          --------------     --------------         ----       -------------        ----         ----

<CAPTION>
             Total Principal   Ending Certificate   Ending Certificate     Total Principal
Class           Reduction           Balance             Percentage          Distribution
-----        ---------------   ------------------   ------------------     ---------------
<S>          <C>               <C>                  <C>                    <C>
 A-1          11,008,801.82      706,041,926.76         0.89172829          11,008,801.82
 X-1                   0.00                0.00         0.00000000                   0.00
 A-2           4,335,320.03      136,270,301.18         0.90846867           4,335,320.03
 X-2                   0.00                0.00         0.00000000                   0.00
 B-1                   0.00       14,166,000.00         1.00000000                   0.00
 X-B                   0.00                0.00         0.00000000                   0.00
 B-2                   0.00        8,304,000.00         1.00000000                   0.00
 B-3                   0.00        4,884,000.00         1.00000000                   0.00
 B-4                   0.00        2,443,000.00         1.00000000                   0.00
 B-5                   0.00        1,465,000.00         1.00000000                   0.00
 B-6                   0.00        3,908,267.00         1.00000000                   0.00
 A-R                   0.00                0.00         0.00000000                   0.00
              -------------      --------------         ----------          -------------
Totals        15,344,121.85      877,482,494.94         0.89819637          15,344,121.85
              -------------      --------------         ----------          -------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                Beginning       Scheduled     Unscheduled
           Original Face       Certificate      Principal      Principal                      Realized
Class          Amount            Balance      Distribution    Distribution    Accretion       Loss (3)
-----      --------------     -------------   ------------    ------------    ---------      ----------
<S>        <C>                <C>             <C>             <C>             <C>            <C>
 A-1       791,768,000.00      905.63236779    0.00000000      13.90407521    0.00000000     0.00000000
 X-1                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 A-2       150,000,000.00      937.37080807    0.00000000      28.90213353    0.00000000     0.00000000
 X-2                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-1        14,166,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 X-B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-2         8,304,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-3         4,884,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-4         2,443,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-5         1,465,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-6         3,908,267.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 A-R               100.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000

<CAPTION>
             Total Principal  Ending Certificate  Ending Certificate   Total Principal
Class           Reduction           Balance           Percentage         Distribution
-----        ---------------  ------------------  ------------------   ---------------
<S>          <C>              <C>                 <C>                  <C>
 A-1           13.90407521        891.72829258          0.89172829        13.90407521
 X-1            0.00000000          0.00000000          0.00000000         0.00000000
 A-2           28.90213353        908.46867453          0.90846867        28.90213353
 X-2            0.00000000          0.00000000          0.00000000         0.00000000
 B-1            0.00000000       1000.00000000          1.00000000         0.00000000
 X-B            0.00000000          0.00000000          0.00000000         0.00000000
 B-2            0.00000000       1000.00000000          1.00000000         0.00000000
 B-3            0.00000000       1000.00000000          1.00000000         0.00000000
 B-4            0.00000000       1000.00000000          1.00000000         0.00000000
 B-5            0.00000000       1000.00000000          1.00000000         0.00000000
 B-6            0.00000000       1000.00000000          1.00000000         0.00000000
 A-R            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                   Non-
                             Current     Certificate/        Current        Unpaid      Current     Supported
          Original Face    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>
  A-1    791,768,000.00     1.92000%    717,050,728.58    1,147,281.17       0.00         0.00         0.00         0.00
  X-1              0.00     0.61879%    697,895,185.50      359,877.60       0.00         0.00         0.00         0.00
  A-2    150,000,000.00     2.21063%    140,605,621.21      259,022.50       0.00         0.00         0.00         0.00
  X-2              0.00     0.11370%    857,656,349.79       81,263.06       0.00         0.00         0.00         0.00
  B-1     14,166,000.00     2.19000%     14,166,000.00       25,852.95       0.00         0.00         0.00         0.00
  X-B              0.00     2.24908%     22,470,000.00        4,663.95       0.00         0.00         0.00         0.00
  B-2      8,304,000.00     2.85000%      8,304,000.00       19,722.00       0.00         0.00         0.00         0.00
  B-3      4,884,000.00     2.58508%      4,884,000.00       10,521.29       0.00         0.00         0.00         0.00
  B-4      2,443,000.00     2.58508%      2,443,000.00        5,262.80       0.00         0.00         0.00         0.00
  B-5      1,465,000.00     2.58508%      1,465,000.00        3,155.95       0.00         0.00         0.00         0.00
  B-6      3,908,267.00     2.58508%      3,908,267.00        8,419.33       0.00         0.00         0.00         0.00
  A-R            100.00     2.56251%              0.00            0.00       0.00         0.00         0.00         0.00
         --------------                                   ------------       ----         ----         ----         ----
Totals   976,938,367.00                                   1,925,042.60       0.00         0.00         0.00         0.00
         --------------                                   ------------       ----         ----         ----         ----

<CAPTION>
                           Remaining         Ending
              Total          Unpaid       Certificate/
             Interest       Interest       Notational
 Class     Distribution     Shortfall        Balance
------     ------------    ----------    --------------
<S>        <C>             <C>           <C>
  A-1      1,147,281.17        0.00      706,041,926.76
  X-1        359,877.60        0.00      672,045,904.98
  A-2        259,022.50        0.00      136,270,301.18
  X-2         81,263.06        0.00      842,312,227.94
  B-1         25,582.95        0.00       14,166,000.00
  X-B          2,830.75        0.00       22,470,000.00
  B-2         19,722.00        0.00        8,304,000.00
  B-3         10,521.29        0.00        4,884,000.00
  B-4          5,262.80        0.00        2,443,000.00
  B-5          3,155.95        0.00        1,465,000.00
  B-6          8,419.33        0.00        3,908,267.00
  A-R              0.00        0.00                0.00
           ------------        ----
Totals     1,923,209.40        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
            Original Face   Certificate     Certificate/     Current 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>
   A-1     791,768,000.00     1.92000%      905.63236779        1.44901179     0.00000000     0.00000000    0.00000000    0.00000000
   X-1               0.00     0.61879%      741.04785733        0.38212978     0.00000000     0.00000000    0.00000000    0.00000000
   A-2     150,000,000.00     2.21063%      937.37080807        1.72681667     0.00000000     0.00000000    0.00000000    0.00000000
   X-2               0.00     0.11370%      910.68750456        0.08628777     0.00000000     0.00000000    0.00000000    0.00000000
   B-1      14,166,000.00     2.19000%     1000.00000000        1.82500000     0.00000000     0.00000000    0.00000000    0.00000000
   X-B               0.00     0.24908%     1000.00000000        0.20756342     0.00000000     0.00000000    0.00000000    0.00000000
   B-2       8,304,000.00     2.85000%     1000.00000000        2.37500000     0.00000000     0.00000000    0.00000000    0.00000000
   B-3       4,884,000.00     2.58508%     1000.00000000        2.15423628     0.00000000     0.00000000    0.00000000    0.00000000
   B-4       2,443,000.00     2.58508%     1000.00000000        2.15423659     0.00000000     0.00000000    0.00000000    0.00000000
   B-5       1,465,000.00     2.58508%     1000.00000000        2.15423208     0.00000000     0.00000000    0.00000000    0.00000000
   B-6       3,908,267.00     2.58508%     1000.00000000        2.15423614     0.00000000     0.00000000    0.00000000    0.00000000
   A-R             100.00     2.56251%        0.00000000        0.00000000     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>
   A-1        1.44901179       0.00000000         891.72829258
   X-1        0.38212978       0.00000000         713.60027627
   A-2        1.72681667       0.00000000         908.46867453
   X-2        0.08628777       0.00000000         894.39461517
   B-1        1.82500000       0.00000000        1000.00000000
   X-B        0.12597908       0.00000000        1000.00000000
   B-2        2.37500000       0.00000000        1000.00000000
   B-3        2.15423628       0.00000000        1000.00000000
   B-4        2.15423659       0.00000000        1000.00000000
   B-5        2.15423208       0.00000000        1000.00000000
   B-6        2.15423614       0.00000000        1000.00000000
   A-R        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                           17,596,221.74
         Liquidations, Insurance Proceeds, Reserve Funds                       0.00
         Proceeds from Repurchased Loans                                       0.00
         Other Amounts (Servicer Advances)                                10,738.95
         Realized Losses (Gains, Subsequent Expenses & Recoveries)             0.00
         Prepayment Penalties                                                  0.00
                                                                      -------------
Total Deposits                                                        17,606,960.69

Withdrawals
         Reimbursement for Servicer Advances                              54,608.44
         Payment of Service Fee                                          285,021.00
         Payment of Interest and Principal                            17,267,331.25
                                                                      -------------
Total Withdrawals (Pool Distribution Amount)                          17,606,960.69

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                                                      280,928.88
Master Servicing Fee                                                       4,092.12
Supported Prepayment/Curtailment Interest Shortfall                            0.00
                                                                         ----------

Net Servicing Fee                                                        285,021.00
                                                                         ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                     Beginning          Current          Current      Ending
        Account Type                  Balance         Withdrawals       Deposits      Balance
        ------------                 ---------        -----------       --------     --------
<S>                                  <C>              <C>               <C>          <C>
Class 1-A Companion Sub Account       4,000.00             0.00             0.00     4,000.00
Class 1-A NAS Sub Account             1,000.00             0.00             0.00     1,000.00
Class 2-A Companion Sub Account       2,000.00             0.00             0.00     2,000.00
Class 2-A NAS Sub Account               500.00             0.00             0.00       500.00
Class X-B Sub Account                 2,500.00         1,833.23         1,833.23     2,500.00
</TABLE>

             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                 14            4,136,710.28
60 Days                  1              510,000.00
90 Days                  1              100,000.00
120 Days                 0                    0.00
150 Days                 0                    0.00
180+ Days                0                    0.00
                  --------            ------------
                        16            4,746,710.28
</TABLE>

<TABLE>
<CAPTION>
                    No. of             Principal
                    Loans               Balance
<S>               <C>                  <C>
0-29 Days         0.000000%              0.000000%
30 Days           0.537841%              0.471428%
60 Days           0.038417%              0.058121%
90 Days           0.038417%              0.011396%
120 Days          0.000000%              0.000000%
150 Days          0.000000%              0.000000%
180+ Days         0.000000%              0.000000%
                  --------               --------
                  0.614675%              0.540945%
</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
</TABLE>

<TABLE>
<CAPTION>
                    No. of             Principal
                    Loans               Balance
<S>               <C>                  <C>
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
</TABLE>

<TABLE>
<CAPTION>
                    No. of             Principal
                    Loans               Balance
<S>               <C>                  <C>
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
</TABLE>

<TABLE>
<CAPTION>
                    No. of             Principal
                    Loans               Balance
<S>               <C>                  <C>
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            4,136,710.28
60 Days                  1              510,000.00
90 Days                  1              100,000.00
120 Days                 0                    0.00
150 Days                 0                    0.00
180+ Days                0                    0.00
                    ------            ------------
                        16            4,746,710.28
</TABLE>

<TABLE>
<CAPTION>
                    No. of             Principal
                    Loans               Balance
<S>               <C>                  <C>
0-29 Days         0.000000%              0.000000%
30 Days           0.537841%              0.471428%
60 Days           0.038417%              0.058121%
90 Days           0.038417%              0.011396%
120 Days          0.000000%              0.000000%
150 Days          0.000000%              0.000000%
180+ Days         0.000000%              0.000000%
                  --------               --------
                  0.614675%              0.540945%
</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  10,738.95
</TABLE>

<PAGE>

     SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
                                   PERCENTAGE

<TABLE>
<CAPTION>
                Original $        Original%       Current $         Current %      Current Class %     Prepayment %
              -------------      ----------     -------------      ----------      ---------------     ------------
<S>           <C>                <C>            <C>                <C>             <C>                 <C>
Class A       35,170,267.00      3.60004973%    35,170,267.00      4.00808759%       95.991912%          0.000000%
Class X-1     35,170,267.00      3.60004973%    35,170,267.00      4.00808759%        0.000000%          0.000000%
Class X-2     35,170,267.00      3.60004973%    35,170,267.00      4.00808759%        0.000000%          0.000000%
Class B-1     21,004,267.00      2.15000943%    21,004,267.00      2.39369641%        1.614391%         40.278341%
Class B-2     12,700,267.00      1.30000698%    12,700,267.00      1.44735275%        0.946344%         23.610853%
Class B-3      7,816,267.00      0.80007780%     7,816,267.00      0.89076045%        0.556592%         13.886730%
Class B-4      5,373,267.00      0.55001085%     5,373,267.00      0.61235033%        0.278410%          6.946208%
Class B-5      3,908,267.00      0.40005257%     3,908,267.00      0.44539544%        0.166955%          4.165450%
Class B-6              0.00      0.00000000%             0.00      0.00000000%        0.445395%         11.112418%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

                                   DELINQUENT

POOL 1 -- 1 MO LIBOR

<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
</TABLE>

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

                                   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
</TABLE>

<TABLE>
<CAPTION>
                    No. of          Principal
                     Loans           Balance
<S>                <C>              <C>
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
</TABLE>

<TABLE>
<CAPTION>
                    No. of          Principal
                     Loans           Balance
<S>                <C>              <C>
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
</TABLE>

<TABLE>
<CAPTION>
                    No. of          Principal
                     Loans           Balance
<S>                <C>              <C>
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                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
</TABLE>

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

<PAGE>

                                   DELINQUENT

POOL 1 -- 6 MO LIBOR

<TABLE>
<CAPTION>
                     No. of       Principal
                      Loans        Balance
<S>                  <C>         <C>
0-29 Days               0                0.00
30 Days                 9        3,081,190.30
60 Days                 1          510,000.00
90 Days                 0                0.00
120 Days                0                0.00
150 Days                0                0.00
180+ Days               0                0.00
                       --        ------------
                       10        3,591,190.30
</TABLE>

<TABLE>
<CAPTION>
                     No. of        Principal
                      Loans         Balance
<S>                 <C>            <C>
0-29 Days           0.000000%      0.000000%
30 Days             0.466321%      0.494621%
60 Days             0.051813%      0.081870%
90 Days             0.000000%      0.000000%
120 Days            0.000000%      0.000000%
150 Days            0.000000%      0.000000%
180+ Days           0.000000%      0.000000%
                    --------       --------
                    0.518135%      0.576491%
</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
</TABLE>

<TABLE>
<CAPTION>
                   No. of       Principal
                   Loans         Balance
<S>              <C>            <C>
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
</TABLE>

<TABLE>
<CAPTION>
                   No. of       Principal
                    Loans        Balance
<S>               <C>           <C>
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
</TABLE>

<TABLE>
<CAPTION>
                   No. of       Principal
                   Loans         Balance
<S>              <C>            <C>
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                 9        3,081,190.30
60 Days                 1          510,000.00
90 Days                 0                0.00
120 Days                0                0.00
150 Days                0                0.00
180+ Days               0                0.00
                       --        ------------
                       10        3,591,190.30
</TABLE>

<TABLE>
<CAPTION>
                     No. of        Principal
                      Loans         Balance
<S>                 <C>            <C>
0-29 Days           0.000000%      0.000000%
30 Days             0.466321%      0.494621%
60 Days             0.051813%      0.081870%
90 Days             0.000000%      0.000000%
120 Days            0.000000%      0.000000%
150 Days            0.000000%      0.000000%
180+ Days           0.000000%      0.000000%
                    --------       --------
                    0.518135%      0.576491%
</TABLE>

                                   DELINQUENT

POOL 2

<TABLE>
<CAPTION>
                  No. of        Principal
                   Loans         Balance
<S>               <C>         <C>
0-29 Days            0                0.00
30 Days              5        1,055,519.98
60 Days              0                0.00
90 Days              1          100,000.00
120 Days             0                0.00
150 Days             0                0.00
180+ Days            0                0.00
                    --        ------------
                     6        1,155,519.98
</TABLE>

<TABLE>
<CAPTION>
                  No. of        Principal
                   Loans         Balance
<S>              <C>            <C>
0-29 Days        0.000000%      0.000000%
30 Days          1.121076%      0.743989%
60 Days          0.000000%      0.000000%
90 Days          0.224215%      0.070486%
120 Days         0.000000%      0.000000%
150 Days         0.000000%      0.000000%
180+ Days        0.000000%      0.000000%
                 --------       --------
                 1.345291%      0.814475%
</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
</TABLE>

<TABLE>
<CAPTION>
                 No. of       Principal
                 Loans         Balance
<S>            <C>            <C>
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
</TABLE>

<TABLE>
<CAPTION>
                No. of       Principal
                 Loans        Balance
<S>            <C>           <C>
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
</TABLE>

<TABLE>
<CAPTION>
                No. of       Principal
                Loans         Balance
<S>           <C>            <C>
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              5        1,055,519.98
60 Days              0                0.00
90 Days              1          100,000.00
120 Days             0                0.00
150 Days             0                0.00
180+ Days            0                0.00
                    --        ------------
                     6        1,155,519.98
</TABLE>

<TABLE>
<CAPTION>
                  No. of        Principal
                   Loans         Balance
<S>              <C>            <C>
0-29 Days        0.000000%      0.000000%
30 Days          1.121076%      0.743989%
60 Days          0.000000%      0.000000%
90 Days          0.224215%      0.070486%
120 Days         0.000000%      0.000000%
150 Days         0.000000%      0.000000%
180+ Days        0.000000%      0.000000%
                 --------       --------
                 1.345291%      0.814475%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                        Mixed Arm
<S>                                                        <C>

Weighted Average Gross Coupon                                    2.967963%
Weighted Average Net Coupon                                      2.590382%
Weighted Average Pass-Through Rate                               2.584882%
Weighted Average Maturity (Stepdown Calculation)                      314

Beginning Scheduled Collateral Loan Count                           2,635
Number of Loans Paid in Full                                           32
Ending Scheduled Collateral Loan Count                              2,603

Beginning Scheduled Collateral Balance                     892,826,617.74
Ending Scheduled Collateral Balance                        877,482,495.89
Ending Actual Collateral Balance at 31-Aug-2004            877,484,723.79

Monthly P&I Constant                                         2,208,230.36
Special Servicing Fee                                                0.00
Prepayment Penalties                                                 0.00
Realized Loss Amount                                                 0.00
Cumulative Realized Loss                                             0.00

Class A Optimal Amount                                      17,189,732.95

Ending Scheduled Balance for Premium Loans                 877,482,495.89

Scheduled Principal                                                  0.00
Unscheduled Principal                                       15,344,121.85
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
          GROUP                       POOL 1 -- 1 MO LIBOR    POOL 1 -- 6 MO LIBOR        POOL 2               TOTAL
<S>                                   <C>                     <C>                    <C>                  <C>
Collateral Description                 1 Month LIBOR ARM        6 Month LIBOR ARM    6 MonthLIBOR ARM          Mixed ARM
Weighted Average Coupon Rate                    3.036970                 2.964395            2.929379           2.967963
Weighted Average Net Rate                       2.645972                 2.589026            2.552734           2.590382
Pass-Through Rate                               2.640472                 2.583526            2.547234           2.584882
Weighted Average Maturity                            299                      316                 315                314
Record Date                                   08/31/2004               08/31/2004          08/31/2004         08/31/2004
Principal and Interest Constant               289,623.37             1,561,688.73          356,916.26       2,208,230.36
Beginning Loan Count                                 231                    1,950                 454              2,635
Loans Paid in Full                                     4                       20                   8                 32
Ending Loan Count                                    227                    1,930                 446              2,603
Beginning Scheduled Balance               114,439,870.23           632,178,465.28      146,208,282.23     892,826,617.74
Ending Scheduled Balance                  112,672,186.07           622,937,347.62      141,872,962.20     877,482,495.89
Scheduled Principal                                 0.00                     0.00                0.00               0.00
Unscheduled Principal                       1,767,684.16             9,241,117.66        4,335,320.03      15,344,121.85
Scheduled Interest                            289,625.37             1,561,688.73          356,916.26       2,208,230.36
Servicing Fee                                  37,288.11               197,750.21           45,890.56         280,928.88
Master Servicing Fee                              524.51                 2,897.49              670.12           4,092.12
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                                  251,812.75             1,361,041.03          310,355.85       1,923,209.36
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 1 -- 1 Mo LIBOR

     Interest Transfer Amount                                        0.00
     Principal Transfer Amount                                       0.00
     Prorata Senior Percent                                    96.039796%
     Senior Percentage                                        100.000000%
     Senior Prepayment Percentage                             100.000000%
     Subordinate Percentage                                     0.000000%
     Subordinate Prepayment Percentage                          0.000000%

Group Pool 1 -- 6Mo LIBOR

     Interest Transfer Amount                                        0.00
     Principal Transfer Amount                                       0.00
     Prorata Senior Percent                                    96.168028%
     Senior Percentage                                        100.000000%
     Senior Prepayment Percentage                             100.000000%
     Subordinate Percentage                                     0.000000%
     Subordinate Prepayment Percentage                          0.000000%
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}]]