Document:

<PAGE>
                                                                    EXHIBIT 10.1

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

                               SMT SERIES 2002-12

                          RECORD DATE: JANUARY 30, 2004
                      DISTRIBUTION DATE: FEBRUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                    Certificate    Certificate     Beginning                                                         Ending
                       Class      Pass-Through    Certificate       Interest        Principal        Current       Certificate
   Class   CUSIP    Description      Rate           Balance       Distribution    Distribution    Realized Loss      Balance
-------------------------------------------------------------------------------------------------------------------------------
<S>      <C>        <C>           <C>          <C>               <C>              <C>             <C>            <C>
     A   81744BAA4      SEN         1.55000%   938,313,782.50    1,211,988.64     9,388,444.32         0.00      928,925,338.18
    X-1  81744BAB2       IO         0.81364%             0.00      154,290.33             0.00         0.00                0.00
    X-2  81744BAC0       IO         1.04745%             0.00      635,078.44             0.00         0.00                0.00
    A-R  81744BAD8      SEN         3.16256%             0.00            0.00             0.00         0.00                0.00
    B-1  81744BAE6      SUB         1.95000%    16,815,000.00       27,324.38             0.00         0.00       16,815,000.00
    B-2  81744BAF3      SUB         2.54879%     8,968,000.00       19,047.92             0.00         0.00        8,968,000.00
    B-3  81744BAG1      SUB         2.54879%     6,165,000.00       13,094.38             0.00         0.00        6,165,000.00
    B-4  SMT0212B4      SUB         2.54879%     2,802,000.00        5,951.41             0.00         0.00        2,802,000.00
    B-5  SMT0212B5      SUB         2.54879%     1,681,000.00        3,570.42             0.00         0.00        1,681,000.00
    B-6  SMT0212B6      SUB         2.54879%     4,486,095.46        9,528.41             0.00         0.00        4,486,095.46
-------------------------------------------------------------------------------------------------------------------------------
Totals                                         979,230,877.96    2,079,874.33     9,388,444.32         0.00      969,842,433.64
-------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

              Total          Cumulative
   Class  Distribution     Realized Loss
----------------------------------------
<S>       <C>              <C>
     A    10,600,432.96       0.00
    X-1      154,290.33       0.00
    X-2      635,078.44       0.00
    A-R            0.00       0.00
    B-1       27,324.38       0.00
    B-2       19,047.92       0.00
    B-3       13,094.38       0.00
    B-4        5,951.41       0.00
    B-5        3,570.42       0.00
    B-6        9,528.41       0.00
----------------------------------------
Totals    11,468,318.65       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       1,080,076,000.00     938,313,782.50       0.00         9,388,444.32      0.00          0.00
    X-1                  0.00               0.00       0.00                 0.00      0.00          0.00
    X-2                  0.00               0.00       0.00                 0.00      0.00          0.00
    A-R                100.00               0.00       0.00                 0.00      0.00          0.00
    B-1         16,815,000.00      16,815,000.00       0.00                 0.00      0.00          0.00
    B-2          8,968,000.00       8,968,000.00       0.00                 0.00      0.00          0.00
    B-3          6,165,000.00       6,165,000.00       0.00                 0.00      0.00          0.00
    B-4          2,802,000.00       2,802,000.00       0.00                 0.00      0.00          0.00
    B-5          1,681,000.00       1,681,000.00       0.00                 0.00      0.00          0.00
    B-6          4,486,095.46       4,486,095.46       0.00                 0.00      0.00          0.00
----------------------------------------------------------------------------------------------------------
Totals       1,120,993,195.46     979,230,877.96       0.00         9,388,444.32      0.00          0.00
----------------------------------------------------------------------------------------------------------

<CAPTION>
                                  Ending              Ending
             Total Principal    Certificate        Certificate       Total Principal
   Class        Reduction         Balance           Percentage         Distribution
------------------------------------------------------------------------------------
<S>          <C>               <C>                 <C>               <C>
     A        9,388,444.32     928,925,338.18       0.86005553       9,388,444.32
    X-1               0.00               0.00       0.00000000               0.00
    X-2               0.00               0.00       0.00000000               0.00
    A-R               0.00               0.00       0.00000000               0.00
    B-1               0.00      16,815,000.00       1.00000000               0.00
    B-2               0.00       8,968,000.00       1.00000000               0.00
    B-3               0.00       6,165,000.00       1.00000000               0.00
    B-4               0.00       2,802,000.00       1.00000000               0.00
    B-5               0.00       1,681,000.00       1.00000000               0.00
    B-6               0.00       4,486,095.46       1.00000000               0.00
------------------------------------------------------------------------------------
Totals        9,388,444.32     969,842,433.64       0.86516353       9,388,444.32
------------------------------------------------------------------------------------
</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       1,080,076,000.00       868.74792376    0.00000000        8.69239231    0.00000000    0.00000000
    X-1                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000
    X-2                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000
    A-R                100.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000
    B-1         16,815,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
    B-2          8,968,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
    B-3          6,165,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
    B-4          2,802,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
    B-5          1,681,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
    B-6          4,486,095.46      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
-------------------------------------------------------------------------------------------------------------

<CAPTION>
                                  Ending              Ending
              Total Principal   Certificate        Certificate       Total Principal
   Class        Reduction         Balance           Percentage         Distribution
------------------------------------------------------------------------------------
<S>           <C>              <C>                 <C>               <C>
     A        8.69239231        860.05553144        0.86005553         8.69239231
    X-1       0.00000000          0.00000000        0.00000000         0.00000000
    X-2       0.00000000          0.00000000        0.00000000         0.00000000
    A-R       0.00000000          0.00000000        0.00000000         0.00000000
    B-1       0.00000000       1000.00000000        1.00000000         0.00000000
    B-2       0.00000000       1000.00000000        1.00000000         0.00000000
    B-3       0.00000000       1000.00000000        1.00000000         0.00000000
    B-4       0.00000000       1000.00000000        1.00000000         0.00000000
    B-5       0.00000000       1000.00000000        1.00000000         0.00000000
    B-6       0.00000000       1000.00000000        1.00000000         0.00000000
------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>
                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                                             Payment of
                                Current        Beginning         Current      Unpaid       Current     Non-Supported
           Original Face      Certificate     Certificate/       Accrued     Interest      Interest     Interest     Realized
  Class       Amount             Rate       Notional Balance     Interest    Shortfall    Shortfall     Shortfall    Loss (4)
-----------------------------------------------------------------------------------------------------------------------------
<S>       <C>                 <C>           <C>                <C>           <C>          <C>          <C>           <C>
    A     1,080,076,000.00      1.55000%     938,313,782.50    1,211,988.64     0.00        0.00         0.00          0.00
   X-1                0.00      0.81364%     227,555,844.04      154,290.33     0.00        0.00         0.00          0.00
   X-2                0.00      1.04745%     727,572,938.46      635,078.44     0.00        0.00         0.00          0.00
   A-R              100.00      3.16256%               0.00            0.00     0.00        0.00         0.00          0.00
   B-1       16,815,000.00      1.95000%      16,815,000.00       27,324.38     0.00        0.00         0.00          0.00
   B-2        8,968,000.00      2.54879%       8,968,000.00       19,047.92     0.00        0.00         0.00          0.00
   B-3        6,165,000.00      2.54879%       6,165,000.00       13,094.38     0.00        0.00         0.00          0.00
   B-4        2,802,000.00      2.54879%       2,802,000.00        5,951.41     0.00        0.00         0.00          0.00
   B-5        1,681,000.00      2.54879%       1,681,000.00        3,570.42     0.00        0.00         0.00          0.00
   B-6        4,486,095.46      2.54879%       4,486,095.46        9,528.41     0.00        0.00         0.00          0.00
-----------------------------------------------------------------------------------------------------------------------------
 Totals   1,120,993,195.46                                     2,079,874.33     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       1,211,988.64         0.00         928,925,338.18
   X-1        154,290.33         0.00         225,991,122.33
   X-2        635,078.44         0.00         719,749,215.85
   A-R              0.00         0.00                   0.00
   B-1         27,324.38         0.00          16,815,000.00
   B-2         19,047.92         0.00           8,968,000.00
   B-3         13,094.38         0.00           6,165,000.00
   B-4          5,951.41         0.00           2,802,000.00
   B-5          3,570.42         0.00           1,681,000.00
   B-6          9,528.41         0.00           4,486,095.46
-------------------------------------------------------------
 Totals     2,079,874.33         0.00
-------------------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                               Payment of
                                Current      Beginning            Current        Unpaid        Current    Non-Supported
Class (5)    Original Face    Certificate   Certificate           Accrued       Interest      Interest      Interest      Realized
                Amount           Rate     Notional Balance       Interest       Shortfall     Shortfall    Shortfall      Loss (6)
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>               <C>         <C>                    <C>           <C>           <C>          <C>             <C>
    A       1,080,076,000.00    1.55000%      868.74792376       1.12213274     0.00000000   0.00000000    0.00000000     0.00000000
   X-1                  0.00    0.81364%      911.26462722       0.61786732     0.00000000   0.00000000    0.00000000     0.00000000
   X-2                  0.00    1.04745%      858.82080186       0.74964110     0.00000000   0.00000000    0.00000000     0.00000000
   A-R                100.00    3.16256%        0.00000000       0.00000000     0.00000000   0.00000000    0.00000000     0.00000000
   B-1         16,815,000.00    1.95000%     1000.00000000       1.62500030     0.00000000   0.00000000    0.00000000     0.00000000
   B-2          8,968,000.00    2.54879%     1000.00000000       2.12398751     0.00000000   0.00000000    0.00000000     0.00000000
   B-3          6,165,000.00    2.54879%     1000.00000000       2.12398702     0.00000000   0.00000000    0.00000000     0.00000000
   B-4          2,802,000.00    2.54879%     1000.00000000       2.12398644     0.00000000   0.00000000    0.00000000     0.00000000
   B-5          1,681,000.00    2.54879%     1000.00000000       2.12398572     0.00000000   0.00000000    0.00000000     0.00000000
   B-6          4,486,095.46    2.54879%     1000.00000000       2.12398735     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       1.12213274           0.00000000     860.05553144
   X-1      0.61786732           0.00000000     904.99858052
   X-2      0.74964110           0.00000000     849.58574738
   A-R      0.00000000           0.00000000       0.00000000
   B-1      1.62500030           0.00000000    1000.00000000
   B-2      2.12398751           0.00000000    1000.00000000
   B-3      2.12398702           0.00000000    1000.00000000
   B-4      2.12398644           0.00000000    1000.00000000
   B-5      2.12398572           0.00000000    1000.00000000
   B-6      2.12398735           0.00000000    1000.00000000
-----------------------------------------------------------------
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                            <C>
Beginning Balance

Deposits
        Payments of Interest and Principal                     11,776,656.84
        Liquidations, Insurance Proceeds, Reserve Funds                 0.00
        Proceeds from Repurchased Loans                                 0.00
        Other Amounts (Servicer Advances)                               0.00
        Realized Losses                                                 0.00
        Prepayment Penalties                                            0.00
                                                               -------------
Total Deposits                                                 11,776,656.84

Withdrawals
        Reimbursement for Servicer Advances                             0.00
        Payment of Service Fee                                    308,338.18
        Payment of Interest and Principal                      11,468,318.66
                                                               -------------
Total Withdrawals (Pool Distribution Amount)                   11,776,656.84

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                                               308,338.18
Supported Prepayment/Curtailment Interest Shortfall                     0.00
                                                               -------------

Net Servicing Fee                                                 308,338.18
                                                               =============
</TABLE>

<PAGE>

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

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

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

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

Current Period Class A Insufficient Funds:              0.00     Principal Balance of Contaminated Properties  0.00

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

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

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

           Periodic Advance                            0.00
</TABLE>

<TABLE>
<CAPTION>
                    Original $         Original %          Current $           Current %
<S>               <C>                  <C>                <C>                  <C>
    Bankruptcy       218,860.00        0.01952376%          218,860.00         0.02256655%
         Fraud    33,629,796.00        3.00000001%        9,908,251.45         1.02163518%
Special Hazard    11,209,932.00        1.00000000%        9,698,424.34         1.00000000%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                            Mixed ARM
<S>                                                                             <C>
Weighted Average Gross Coupon                                                         2.926639%
Weighted Average Net Coupon                                                           2.548785%
Weighted Average Pass-Through Rate                                                    2.548785%
Weighted Average Maturity (Stepdown Calculation)                                           312

Beginning Scheduled Collateral Loan Count                                                2,839
Number of Loans Paid in Full                                                                21
Ending Scheduled Collateral Loan Count                                                   2,818

Beginning Scheduled Collateral Balance                                          979,230,877.96
Ending Scheduled Collateral Balance                                             969,842,433.64
Ending Actual Collateral Balance at 30-Jan-2004                                 969,849,901.52

Monthly P&I Constant                                                              2,388,212.51
Special Servicing Fee                                                                     0.00
Prepayment Penalties                                                                      0.00
Realization Loss Amount                                                                   0.00
Cumulative Realized Loss                                                                  0.00

Ending Scheduled Balance for Premium Loans                                      969,842,433.64

Scheduled Principal                                                                       0.00
Unscheduled Principal                                                             9,388,444.32
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Principal Balance of 1-Month Libor Loans                         231,750,482.89
Principal Balance of 6-Month Libor Loans                         738,091,950.75
Pro Rata Senior Percentage                                            95.821507%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
Payment Received from Cap Provide                                             0
</TABLE><PAGE>

                                  EXHIBIT 10.1

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

                               SMT SERIES 2002-11
                          RECORD DATE: JANUARY 30, 2004
                      DISTRIBUTION DATE: FEBRUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate  Certificate     Beginning
                      Class     Pass-Through   Certificate      Interest
Class     CUSIP    Description      Rate         Balance      Distribution
--------------------------------------------------------------------------
<S>     <C>        <C>          <C>           <C>             <C>
    A   81744AAA6      SEN        1.55000%    592,079,654.44    764,769.55
  X-1A  81744AAC2       IO        0.91699%              0.00    130,439.46
  X-1B  81744AAD0       IO        1.03815%              0.00    364,550.39
   X-B  81744AAE8       IO        0.48322%              0.00      3,916.52
   A-R  81744AAF5      SEN        3.25039%              0.00          0.00
   B-1  81744AAB4      SUB        2.07000%      9,726,000.00     16,777.35
   B-2  81744AAG3      SUB        2.55322%      5,764,000.00     12,263.98
   B-3  81744AAH1      SUB        2.55322%      3,962,000.00      8,429.89
   B-4  SMT0211B4      SUB        2.55322%      1,801,000.00      3,831.96
   B-5  SMT0211B5      SUB        2.55322%      1,080,000.00      2,297.90
   B-6  SMT0211B6      SUB        2.55322%      2,882,787.00      6,133.66
--------------------------------------------------------------------------
Totals                                        617,295,441.44  1,313,410.66
--------------------------------------------------------------------------

<CAPTION>
                                         Ending
          Principal      Current      Certificate       Total        Cumulative
Class   Distribution  Realized Loss      Balance     Distribution  Realized Loss
--------------------------------------------------------------------------------
<S>     <C>           <C>            <C>             <C>           <C>
    A   7,864,279.10       0.00      584,215,375.34  8,629,048.65       0.00
  X-1A          0.00       0.00                0.00    130,439.46       0.00
  X-1B          0.00       0.00                0.00    364,550.39       0.00
   X-B          0.00       0.00                0.00      3,916.52       0.00
   A-R          0.00       0.00                0.00          0.00       0.00
   B-1          0.00       0.00        9,726,000.00     16,777.35       0.00
   B-2          0.00       0.00        5,764,000.00     12,263.98       0.00
   B-3          0.00       0.00        3,962,000.00      8,429.89       0.00
   B-4          0.00       0.00        1,801,000.00      3,831.96       0.00
   B-5          0.00       0.00        1,080,000.00      2,297.90       0.00
   B-6          0.00       0.00        2,882,787.00      6,133.66       0.00
----------------------------------------------------------------------------
Totals  7,864,279.10       0.00      609,431,162.34  9,177,689.76       0.00
----------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                           Beginning     Scheduled    Unscheduled
         Original Face    Certificate    Principal      Principal              Realized
 Class       Amount         Balance     Distribution  Distribution  Accretion  Loss (1)
---------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>           <C>           <C>        <C>
    A   695,210,000.00  592,079,654.44      0.13      7,864,278.97     0.00      0.00
  X-1A            0.00            0.00      0.00              0.00     0.00      0.00
  X-1B            0.00            0.00      0.00              0.00     0.00      0.00
   X-B            0.00            0.00      0.00              0.00     0.00      0.00
   A-R          100.00            0.00      0.00              0.00     0.00      0.00
   B-1    9,726,000.00    9,726,000.00      0.00              0.00     0.00      0.00
   B-2    5,726,000.00    5,764,000.00      0.00              0.00     0.00      0.00
   B-3    3,962,000.00    3,962,000.00      0.00              0.00     0.00      0.00
   B-4    1,801,000.00    1,801,000.00      0.00              0.00     0.00      0.00
   B-5    1,080,000.00    1,080,000.00      0.00              0.00     0.00      0.00
   B-6    2,882,787.00    2,882,787.00      0.00              0.00     0.00      0.00
-------------------------------------------------------------------------------------
Totals  720,425,887.00  617,295,441.44      0.13      7,864,278.97     0.00      0.00
-------------------------------------------------------------------------------------

<CAPTION>
           Total          Ending         Ending
         Principal     Certificate    Certificate  Total Principal
 Class   Reduction       Balance       Percentage   Distribution
------------------------------------------------------------------
<S>     <C>           <C>             <C>          <C>
    A   7,864,279.10  584,215,375.34   0.84034375   7,864,279.10
  X-1A          0.00            0.00   0.00000000           0.00
  X-1B          0.00            0.00   0.00000000           0.00
   X-B          0.00            0.00   0.00000000           0.00
   A-R          0.00            0.00   0.00000000           0.00
   B-1          0.00    9,726,000.00   1.00000000           0.00
   B-2          0.00    5,764,000.00   1.00000000           0.00
   B-3          0.00    3,962,000.00   1.00000000           0.00
   B-4          0.00    1,801,000.00   1.00000000           0.00
   B-5          0.00    1,080,000.00   1.00000000           0.00
   B-6          0.00    2,882,787.00   1.00000000           0.00
----------------------------------------------------------------
Totals  7,864,279.10  609,431,162.34   0.84593179   7,864,279.10
----------------------------------------------------------------
</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     695,210,000.00   851.65583700   0.00000019   11.31209127   0.00000000  0.00000000
X-1A              0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
X-1B              0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 X-B              0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 A-R            100.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-1      9,726,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-2      5,764,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-3      3,962,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-4      1,801,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-5      1,080,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-6      2,882,787.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000

<CAPTION>
           Total        Ending        Ending
         Principal    Certificate   Certificate  Total Principal
 Class   Reduction      Balance      Percentage   Distribution
---------------------------------------------------------------
<S>     <C>          <C>            <C>          <C>
  A     11.31209145   840.34374554  0.84034375     11.31209145
X-1A     0.00000000     0.00000000  0.00000000      0.00000000
X-1B     0.00000000     0.00000000  0.00000000      0.00000000
 X-B     0.00000000     0.00000000  0.00000000      0.00000000
 A-R     0.00000000     0.00000000  0.00000000      0.00000000
 B-1     0.00000000  1000.00000000  1.00000000      0.00000000
 B-2     0.00000000  1000.00000000  1.00000000      0.00000000
 B-3     0.00000000  1000.00000000  1.00000000      0.00000000
 B-4     0.00000000  1000.00000000  1.00000000      0.00000000
 B-5     0.00000000  1000.00000000  1.00000000      0.00000000
 B-6     0.00000000  1000.00000000  1.00000000      0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                       Beginning                   Payment of               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    695,210,000.00    1.55000%   592,079,654.44    764,769.55      0.00       0.00       0.02      0.00
 X-1A             0.00    0.91699%   170,696,581.83    130,439.46      0.00       0.00       0.00      0.00
 X-1B             0.00    1.03815%   421,383,072.61    364,550.39      0.00       0.00       0.00      0.00
  X-B             0.00    0.48322%     9,726,000.00      3,916.52      0.00       0.00       0.00      0.00
  A-R           100.00    3.25039%             0.00          0.00      0.00       0.00       0.00      0.00
  B-1     9,726,000.00    2.07000%     9,726,000.00     16,777.35      0.00       0.00       0.00      0.00
  B-2     5,764,000.00    2.55322%     5,764,000.00     12,263.98      0.00       0.00       0.00      0.00
  B-3     3,962,000.00    2.55322%     3,962,000.00      8,429.89      0.00       0.00       0.00      0.00
  B-4     1,801,000.00    2.55322%     1,801,000.00      3,831.96      0.00       0.00       0.00      0.00
  B-5     1,080,000.00    2.55322%     1,080,000.00      2,297.90      0.00       0.00       0.00      0.00
  B-6     2,882,787.00    2.55322%     2,882,787.00      6,133.66      0.00       0.00       0.00      0.00
-----------------------------------------------------------------------------------------------------------
Totals  720,425,887.00                               1,313,410.66      0.00       0.00       0.02      0.00
-----------------------------------------------------------------------------------------------------------

<CAPTION>
                        Remaining      Ending
                         Unpaid     Certificate/
        Total Interest  Interest     Notational
 Class   Distribution   Shortfall      Balance
-------------------------------------------------
<S>     <C>             <C>        <C>
   A      764,769.55       0.00    584,215,375.34
 X-1A     130,439.46       0.00    170,352,451.10
 X-1B     364,550.39       0.00    413,862,924.24
  X-B       3,916.52       0.00      9,726,000.00
  A-R           0.00       0.00              0.00
  B-1      16,777.35       0.00      9,726,000.00
  B-2      12,263.98       0.00      5,764,000.00
  B-3       8,429.89       0.00      3,962,000.00
  B-4       3,831.96       0.00      1,801,000.00
  B-5       2,297.90       0.00      1,080,000.00
  B-6       6,133.66       0.00      2,882,787.00
-------------------------------------------------
Totals  1,313,410.66       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>
                                      Beginning                Payment of                Non-
                         Current     Certificate/   Current      Unpaid     Current    Supported
Class   Original Face  Certificate     Notional     Accrued     Interest    Interest   Interest     Realized
 (5)       Amount         Rate         Balance      Interest    Shortfall  Shortfall   Shortfall    Loss (6)
-------------------------------------------------------------------------------------------------------------
<S>    <C>             <C>          <C>            <C>         <C>         <C>         <C>         <C>
  A    695,210,000.00    1.55000%    851.65583700  1.10005545  0.00000000  0.00000000  0.00000003  0.00000000
X-1A             0.00    0.91699%    890.15094826  0.68021754  0.00000000  0.00000000  0.00000000  0.00000000
X-1B             0.00    1.03815%    836.99338264  0.72410660  0.00000000  0.00000000  0.00000000  0.00000000
 X-B             0.00    0.48322%   1000.00000000  0.40268559  0.00000000  0.00000000  0.00000000  0.00000000
 A-R           100.00    3.25039%      0.00000000  0.00000000  0.00000000  0.00000000  0.00000000  0.00000000
 B-1     9,726,000.00    2.07000%   1000.00000000  1.72500000  0.00000000  0.00000000  0.00000000  0.00000000
 B-2     5,726,000.00    2.55322%   1000.00000000  2.12768563  0.00000000  0.00000000  0.00000000  0.00000000
 B-3     3,962,000.00    2.55322%   1000.00000000  2.12768551  0.00000000  0.00000000  0.00000000  0.00000000
 B-4     1,801,000.00    2.55322%   1000.00000000  2.12768462  0.00000000  0.00000000  0.00000000  0.00000000
 B-5     1,080,000.00    2.55322%   1000.00000000  2.12768519  0.00000000  0.00000000  0.00000000  0.00000000
 B-6     2,882,787.00    2.55322%   1000.00000000  2.12768408  0.00000000  0.00000000  0.00000000  0.00000000

<CAPTION>
                       Remaining       Ending
                        Unpaid      Certificate/
Class  Total Interest  Interest      Notational
 (5)    Distribution   Shortfall      Balance
------------------------------------------------
<S>    <C>             <C>         <C>
  A      1.10005545    0.00000000   840.34374554
X-1A     0.68021754    0.00000000   888.35637046
X-1B     0.72410660    0.00000000   822.05610862
 X-B     0.40268559    0.00000000  1000.00000000
 A-R     0.00000000    0.00000000     0.00000000
 B-1     1.72500000    0.00000000  1000.00000000
 B-2     2.12768563    0.00000000  1000.00000000
 B-3     2.12768551    0.00000000  1000.00000000
 B-4     2.12768462    0.00000000  1000.00000000
 B-5     2.12768519    0.00000000  1000.00000000
 B-6     2.12768408    0.00000000  1000.00000000
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                        9,371,666.31
         Liquidations, Insurance Proceeds, Reserve Funds                   0.00
         Proceeds from Repurchased Loans                                   0.00
         Other Amounts (Servicer Advances)                             1,077.08
         Realized Losses                                                   0.00
         Prepayment Penalties                                              0.00
                                                                   ------------
Total Deposits                                                     9,372,743.39

Withdrawals
         Reimbursement for Servicer Advances                           5,241.55
         Payment of Service Fee                                      189,812.08
         Payment of Interest and Principal                         9,177,689.76
                                                                   ------------
Total Withdrawals (Pool Distribution Amount)                       9,372,743.39

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                                                186,211.18
Master Servicing Fee                                                 3,600.90
Supported Prepayment/Curtailment Interest Shortfall                      0.00
                                                                   ----------

Net Servicing Fee                                                  189,812.08
                                                                   ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                            Beginning          Current          Current       Ending
           Account Type                      Balance         Withdrawals       Deposits       Balance
-----------------------------------------------------------------------------------------------------
<S>                                         <C>              <C>               <C>           <C>
Class X-1 Basis Risk Reserve Fund           5,000.00            0.00             0.00        5,000.00
Class X-B Basis Risk Reserve Fund           5,000.00            0.00             0.00        5,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
           DELINQUENT                        BANKRUPTCY                       FORECLOSURE
--------------------------------------------------------------------------------------------------
             No. of    Principal               No. of   Principal               No. of   Principal
             Loans      Balance                Loans     Balance                Loans     Balance
<S>        <C>        <C>         <C>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0            0.00  0-29 Days      0           0.00  0-29 Days      0           0.00
30 Days        0            0.00  30 Days        0           0.00  30 Days        0           0.00
60 Days        1       42,301.91  60 Days        0           0.00  60 Days        0           0.00
90 Days        1      431,542.26  90 Days        0           0.00  90 Days        0           0.00
120 Days       0            0.00  120 Days       0           0.00  120 Days       0           0.00
150 Days       0            0.00  150 Days       0           0.00  150 Days       0           0.00
180+ Days      0            0.00  180+ Days      0           0.00  180+ Days      0           0.00
           ---------------------             --------------------             --------------------
               2      473,844.17                 0           0.00                 0           0.00

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

0-29 Days  0.000000%   0.000000%  0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%
30 Days    0.000000%   0.000000%  30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%
60 Days    0.056625%   0.006941%  60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%
90 Days    0.056625%   0.070811%  90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%
120 Days   0.000000%   0.000000%  120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%
150 Days   0.000000%   0.000000%  150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%
180+ Days  0.000000%   0.000000%  180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%
           --------------------              -------------------              -------------------
           0.113250%   0.077752%             0.000000%  0.000000%             0.000000%  0.000000%

Current Period Class A Insufficient Funds:    0.00    Principal Balance of Contaminated Properties

<CAPTION>
              REO                             TOTAL
-----------------------------------------------------------------
            No. of    Principal               No. of    Principal
             Loans     Balance                Loans      Balance
<C>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0           0.00  0-29 Days      0            0.00
30 Days        0           0.00  30 Days        0            0.00
60 Days        0           0.00  60 Days        1       42,301.91
90 Days        0           0.00  90 Days        1      431,542.26
120 Days       0           0.00  120 Days       0            0.00
150 Days       0           0.00  150 Days       0            0.00
180+ Days      0           0.00  180+ Days      0            0.00
           --------------------             ---------------------
               0           0.00                 2      473,844.17

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

0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%   0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%   0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.056625%   0.006941%
90 Days    0.000000%  0.000000%  90 Days    0.056625%   0.070811%
120 Days   0.000000%  0.000000%  120 Days   0.000000%   0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%   0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%   0.000000%
           -------------------              --------------------
           0.000000%  0.000000%             0.113250%   0.077752%

   0.00    Periodic Advance                         1,077.08
</TABLE>
<PAGE>

 Subordinated 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    25,215,787.00     3.50012228%  25,215,787.00     4.13759397%          95.862406%       0.000000%
Class X-1-A  25,215,787.00     3.50012228%  25,215,787.00     4.13759397%           0.000000%       0.000000%
Class X-1-B  25,215,787.00     3.50012228%  25,215,787.00     4.13759397%           0.000000%       0.000000%
 Class B-1   15,489,787.00     2.15008751%  15,489,787.00     2.54167951%           1.595914%      38.571075%
 Class B-2    9,725,787.00     1.35000521%   9,725,787.00     1.59587950%           0.945800%      22.858696%
 Class B-3    5,763,787.00     0.80005273%   5,763,787.00     0.94576506%           0.650114%      15.712379%
 Class B-4    3,962,787.00     0.55006172%   3,962,787.00     0.65024358%           0.295521%       7.142351%
 Class B-5    2,882,787.00     0.40015039%   2,882,787.00     0.47302914%           0.177214%       4.283031%
 Class B-6            0.00     0.00000000%           0.00     0.00000000%           0.473029%      11.432469%
</TABLE>

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

<TABLE>
<CAPTION>
                  Original $     Original %      Current $       Current %
<S>             <C>              <C>           <C>               <C>
    Bankruptcy     119,754.00     0.01662267%     119,754.00     0.01965013%
         Fraud  21,612,777.00     3.00000005%  12,860,062.82     2.11017480%
Special Hazard  11,600,000.00     1.61015869%  11,600,000.00     1.90341432%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
             Collateral Description                        Mixed ARM
<S>                                                      <C>
Weighted Average Gross Coupon                                  2.922211%
Weighted Average Net Coupon                                    2.560223%
Weighted Average Pass-Through Rate                             2.553223%
Weighted Average Maturity (Stepdown Calculation)                    311

Beginning Scheduled Collateral Loan Count                         1,783
Number of Loans Paid in Full                                         17
Ending Scheduled Collateral Loan Count                            1,766

Beginning Scheduled Collateral Balance                   617,295,441.44
Ending Scheduled Collateral Balance                      609,431,162.34
Ending Actual Collateral Balance at 30-Jan-2004          609,429,198.74

Monthly P&I Constant                                       1,503,222.86
Special Servicing Fee                                              0.00
Prepayment Penalties                                               0.00
Realization Loss Amount                                            0.00
Cumulative Realized Loss                                           0.00

Class A Optimal Amount                                     8,629,048.65

Ending Scheduled Balance for Premium Loans               609,431,162.34

Scheduled Principal                                                0.13
Unscheduled Principal                                      7,864,278.97
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                       <C>
Pro Rata Senior Percentage                     95.915119%
Senior Percentage                             100.000000%
Senior Prepayment Percentage                  100.000000%
Subordinate Percentage                          0.000000%
Subordinate Prepayment Percentage               0.000000%
One Month LIBOR Loan Balance              177,705,169.47
Six Month LIBOR Loan Balance              431,725,992.87
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00061-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00061-of-00352.parquet"}]]