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 2004-3
                           RECORD DATE: APRIL 30, 2004
                        DISTRIBUTION DATE: MAY 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    81744FAZ0      SEN        1.40000%    887,322,190.72  1,035,209.23  9,977,299.12
  M-1   81744FBA4      SUB        1.60000%     13,800,000.00     18,400.00          0.00
  M-2   81744FBB2      SUB        2.00000%      9,200,000.00     15,333.33          0.00
  M-3   81744FBC0      SUB        2.76554%      2,300,000.00      5,300.61          0.00
   X    81744FBD8       IO        0.00000%              0.00          0.00          0.00
   R    81744FBE6      RES        0.00000%              0.00          0.00          0.00
----------------------------------------------------------------------------------------
Totals                                        912,622,190.72  1,074,243.17  9,977,299.12
----------------------------------------------------------------------------------------

<CAPTION>
                   Certificate  Current      Ending
                      Class     Realized   Certificate        Total        Cumulative
 Class    CUSIP    Description    Loss       Balance       Distribution   Realized Loss
---------------------------------------------------------------------------------------
<S>     <C>        <C>          <C>       <C>             <C>             <C>
   A    81744FAZ0      SEN        0.00    877,344,891.60  11,012,508.35        0.00
  M-1   81744FBA4      SUB        0.00     13,800,000.00      18,400.00        0.00
  M-2   81744FBB2      SUB        0.00      9,200,000.00      15,333.33        0.00
  M-3   81744FBC0      SUB        0.00      2,300,000.00       5,300.61        0.00
   X    81744FBD8       IO        0.00              0.00           0.00        0.00
   R    81744FBE6      RES        0.00              0.00           0.00        0.00
-----------------------------------------------------------------------------------
Totals                            0.00    902,644,891.60  11,051,542.29        0.00
-----------------------------------------------------------------------------------
</TABLE>

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

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                           Beginning      Scheduled   Unscheduled
         Original Face    Certificate     Principal    Principal               Realized
Class        Amount         Balance     Distribution  Distribution  Accretion  Loss (1)
---------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>           <C>           <C>        <C>
  A     894,673,000.00  887,322,190.72       0.00     9,977,299.12     0.00      0.00
 M-1     13,800,000.00   13,800,000.00       0.00             0.00     0.00      0.00
 M-2      9,200,000.00    9,200,000.00       0.00             0.00     0.00      0.00
 M-3      2,300,000.00    2,300,000.00       0.00             0.00     0.00      0.00
  X               0.00            0.00       0.00             0.00     0.00      0.00
  R               0.00            0.00       0.00             0.00     0.00      0.00
-------------------------------------------------------------------------------------
Totals  919,973,000.00  912,622,190.72       0.00     9,977,299.12     0.00      0.00
-------------------------------------------------------------------------------------

<CAPTION>
            Total         Ending         Ending
          Principal    Certificate    Certificate   Total Principal
Class     Reduction      Balance       Percentage     Distribution
-------------------------------------------------------------------
<S>     <C>           <C>             <C>           <C>
  A     9,977,299.12  877,344,891.60   0.98063191     9,977,299.12
 M-1            0.00   13,800,000.00   1.00000000             0.00
 M-2            0.00    9,200,000.00   1.00000000             0.00
 M-3            0.00    2,300,000.00   1.00000000             0.00
  X             0.00            0.00   0.00000000             0.00
  R             0.00            0.00   0.00000000             0.00
------------------------------------------------------------------
Totals  9,977,299.12  902,644,891.60   0.98116455     9,977,299.12
------------------------------------------------------------------
</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.

<PAGE>

                    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    894,673,000.00    991.78380338   0.00000000    11.15189474  0.00000000  0.00000000
 M-1    13,800,000.00   1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
 M-2     9,200,000.00   1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
 M-3     2,300,000.00   1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
  X              0.00      0.00000000   0.00000000     0.00000000  0.00000000  0.00000000
  R              0.00      0.00000000   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      11.15189474   980.63190864   0.98063191     11.15189474
 M-1      0.00000000  1000.00000000   1.00000000      0.00000000
 M-2      0.00000000  1000.00000000   1.00000000      0.00000000
 M-3      0.00000000  1000.00000000   1.00000000      0.00000000
  X       0.00000000     0.00000000   0.00000000      0.00000000
  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.

                         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     894,673,000.00    1.40000%   887,322,190.72  1,035,209.22      0.00       0.00       0.00       0.00
 M-1     13,800,000.00    1.60000%    13,800,000.00     18,400.00      0.00       0.00       0.00       0.00
 M-2      9,200,000.00    2.00000%     9,200,000.00     15,333.33      0.00       0.00       0.00       0.00
 M-3      2,300,000.00    2.76554%     2,300,000.00      5,300.61      0.00       0.00       0.00       0.00
  X               0.00    0.00000%   914,020,064.45          0.00      0.00       0.00       0.00       0.00
  R               0.00    0.00000%             0.00          0.00      0.00       0.00       0.00       0.00
------------------------------------------------------------------------------------------------------------
Totals  919,973,000.00                               1,074,243.16      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     1,035,209.23       0.00     877,344,891.60
 M-1       18,400.00       0.00      13,800,000.00
 M-2       15,333.33       0.00       9,200,000.00
 M-3        5,300.61       0.00       2,300,000.00
  X             0.00       0.00     905,074,986.39
  R             0.00       0.00               0.00
--------------------------------------------------
Totals  1,074,243.17       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>
                                      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    894,673,000.00    1.40000%    991.78380338  1.15708110  0.00000000  0.00000000  0.00000000  0.00000000
 M-1    13,800,000.00    1.60000%   1000.00000000  1.33333333  0.00000000  0.00000000  0.00000000  0.00000000
 M-2     9,200,000.00    2.00000%   1000.00000000  1.66666630  0.00000000  0.00000000  0.00000000  0.00000000
 M-3     2,300,000.00    2.76554%   1000.00000000  2.30461304  0.00000000  0.00000000  0.00000000  0.00000000
  X              0.00    0.00000%    993.52858644  0.00000000  0.00000000  0.00000000  0.00000000  0.00000000
  R              0.00    0.00000%      0.00000000  0.00000000  0.00000000  0.00000000  0.00000000  0.00000000

<CAPTION>
                     Remaining       Ending
          Total        Unpaid     Certificate/
Class    Interest     Interest     Notational
 (5)   Distribution   Shortfall     Balance
----------------------------------------------
<S>    <C>           <C>         <C>
  A     1.15708111   0.00000000   980.63190864
 M-1    1.33333333   0.00000000  1000.00000000
 M-2    1.66666630   0.00000000  1000.00000000
 M-3    2.30461304   0.00000000  1000.00000000
  X     0.00000000   0.00000000   983.80539643
  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.

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                          11,325,830.31
         Liquidations, Insurance Proceeds, Reserve Funds                      0.00
         Proceeds from Repurchased Loans                                      0.00
         Other Amounts (Servicer Advances)                               21,522.29
         Realized Losses (Gains, Subsequent Expenses & Recoveries)            0.00
         Prepayment Penalties                                                 0.00
                                                                     -------------
Total Deposits                                                       11,347,352.60

Withdrawals
         Reimbursement for Servicer Advances                              5,036.70
         Payment of Service Fee                                         290,773.61
         Payment of Interest and Principal                           11,051,542.29
                                                                     -------------
Total Withdrawals (Pool Distribution Amount)                         11,347,352.60

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                                       285,822.66
Master Servicing Fee                                        4,950.95
Supported Prepayment/Curtailment Interest Shortfall             0.00
                                                          ----------

Net Servicing Fee                                         290,773.61
                                                          ==========
</TABLE>

                                 OTHER ACCOUNTS

<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>

<PAGE>

             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        24      8,783,336.27      30 Days         0           0.00      30 Days         0          0.00
60 Days         1        332,000.00      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
               --      ------------                     ---          ----                     ---         ----
               25      9,115,336.27                      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     0.867365%    0.970451%       30 Days     0.000000%   0.000000%     30 Days     0.000000%   0.000000%
60 Days     0.036140%    0.036682%       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%
            --------     --------                    --------    --------                  --------    --------
            0.903506%    1.007133%                   0.000000%   0.000000%                 0.000000%   0.000000%
</TABLE>

<TABLE>
<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         24     8,783,336.27
60 Days          0          0.00       60 Days          1       332,000.00
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                       25     9,115,336.27

              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     0.867365%    0.970451%
60 Days      0.000000%   0.000000%     60 Days     0.036140%    0.036682%
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%                 0.903506%    1.007133%
</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   21,522.29
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
        Collateral Description                                       Mixed Arm
<S>                                                              <C>
Weighted Average Gross Coupon                                         3.147251%
Weighted Average Net Coupon                                           2.772000%
Weighted Average Pass-Through Rate                                    2.765500%
Weighted Average Maturity (Stepdown Calculation)                            344

Beginning Scheduled Collateral Loan Count                                 2,784
Number of Loans Paid in Full                                                 17
Ending Scheduled Collateral Loan Count                                    2,767

Beginning Scheduled Collateral Balance                           914,020,064.45
Ending Scheduled Collateral Balance                              905,074,986.39
Ending Actual Collateral Balance at 30-Apr-2004                  905,077,661.68

Monthly P&I Constant                                               2,397,208.67
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                       905,074,986.39

Scheduled Principal                                                        0.00
Unscheduled Principal                                              8,945,078.06

Required Overcollateralized Amount                                         0.00
Overcollateralized Increase Amount                                 1,032,221.06
Overcollateralized Reduction Amount                                        0.00
Specified O/C Amount                                               4,599,867.97
Overcollateralization Amount                                       2,430,094.78
Overcollateralized Deficiency Amount                               3,201,994.24
Base Overcollateralization Amount                                          0.00

Extra Principal Distribution Amount                                1,032,221.06
Excess Cash Amount                                                 1,032,221.06
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Applied Loss Amount                                                        0.00
1 Month LIBOR Loan Balance                                        88,102,800.62
6 Month LIBOR Loan Balance                                       816,972,185.77
M-1 Target Amount                                                873,397,361.87
M-2 Target Amount                                                891,498,861.59
M-3 Target Amount                                                896,024,236.53
Senior Target Amount                                             846,245,112.27
Step Down Date Reached?                                                      No
Trigger Event?                                                               No
</TABLE><PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2004-2
                           RECORD DATE: APRIL 30, 2004
                         DISTRIBUTION DATE: MAY 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     81744FAN7      SEN           1.45000%      663,746,300.67    802,026.78  9,499,093.62
  X-1    81744FAP2      IO            0.80000%                0.00    415,668.00          0.00
  X-2    81744FAQ0      IO            0.55641%                0.00    307,763.34          0.00
  X-B    81744FAR8      IO            0.97677%                0.00     15,099.29          0.00
  B-1    81744FAT4      SUB           1.60000%       11,550,000.00     15,400.00          0.00
  B-2    81744FAU1      SUB           2.08000%        7,000,000.00     12,133.33          0.00
  B-3    81744FAV9      SUB           2.75791%        3,150,000.00      7,239.50          0.00
  B-4    81744FAW7      SUB           2.75791%        1,750,000.00      4,021.95          0.00
  B-5    81744FAX5      SUB           2.75791%        1,400,000.00      3,217.56          0.00
  B-6    81744FAY6      SUB           2.75791%        3,150,069.00      7,239.66          0.00
  A-R    81744FAS6      RES           2.74914%                0.00          0.00          0.00
----------------------------------------------------------------------------------------------
Totals                                              691,746,369.67  1,589,809.41  9,499,093.62
----------------------------------------------------------------------------------------------

<CAPTION>
                    Certificate
                       Class        Current     Ending Certificate      Total        Cumulative
 Class     CUSIP    Description  Realized Loss        Balance        Distribution  Realized Loss
------------------------------------------------------------------------------------------------
<S>      <C>        <C>          <C>            <C>                 <C>            <C>
   A     81744FAN7      SEN           0.00        654,247,207.05    10,301,120.40       0.00
  X-1    81744FAP2      IO            0.00                  0.00       415,668.00       0.00
  X-2    81744FAQ0      IO            0.00                  0.00       307,763.34       0.00
  X-B    81744FAR8      IO            0.00                  0.00        15,099.29       0.00
  B-1    81744FAT4      SUB           0.00         11,550,000.00        15,400.00       0.00
  B-2    81744FAU1      SUB           0.00          7,000,000.00        12,133.33       0.00
  B-3    81744FAV9      SUB           0.00          3,150,000.00         7,239.50       0.00
  B-4    81744FAW7      SUB           0.00          1,750,000.00         4,021.95       0.00
  B-5    81744FAX5      SUB           0.00          1,400,000.00         3,217.56       0.00
  B-6    81744FAY6      SUB           0.00          3,150,069.00         7,239.66       0.00
  A-R    81744FAS6      RES           0.00                  0.00             0.00       0.00
--------------------------------------------------------------------------------------------
Totals                                0.00        682,247,276.05    11,088,903.03       0.00
--------------------------------------------------------------------------------------------
</TABLE>

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

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                           Beginning      Scheduled     Unscheduled
         Original Face    Certificate     Principal      Principal
 Class       Amount         Balance      Distribution  Distribution  Accretion
------------------------------------------------------------------------------
<S>      <C>             <C>             <C>           <C>           <C>
   A     671,998,000.00  663,746,300.67      0.00      9,499,093.62     0.00
  X-1              0.00            0.00      0.00              0.00     0.00
  X-2              0.00            0.00      0.00              0.00     0.00
  X-B              0.00            0.00      0.00              0.00     0.00
  B-1     11,550,000.00   11,550,000.00      0.00              0.00     0.00
  B-2      7,000,000.00    7,000,000.00      0.00              0.00     0.00
  B-3      3,150,000.00    3,150,000.00      0.00              0.00     0.00
  B-4      1,750,000.00    1,750,000.00      0.00              0.00     0.00
  B-5      1,400,000.00    1,400,000.00      0.00              0.00     0.00
  B-6      3,150,069.00    3,150,069.00      0.00              0.00     0.00
  A-R            100.00          100.00      0.00              0.00     0.00
----------------------------------------------------------------------------
Totals   699,998,169.00  691,746,369.67      0.00      9,499,093.62     0.00
----------------------------------------------------------------------------

<CAPTION>
         Realized  Total Principal  Ending Certificate  Ending Certificate  Total Principal
 Class   Loss (1)     Reduction          Balance            Percentage       Distribution
-------------------------------------------------------------------------------------------
<S>      <C>       <C>              <C>                 <C>                 <C>
   A        0.00    9,499,093.62     654,247,207.05         0.97358505       9,499,093.62
  X-1       0.00            0.00               0.00         0.00000000               0.00
  X-2       0.00            0.00               0.00         0.00000000               0.00
  X-B       0.00            0.00               0.00         0.00000000               0.00
  B-1       0.00            0.00      11,550,000.00         1.00000000               0.00
  B-2       0.00            0.00       7,000,000.00         1.00000000               0.00
  B-3       0.00            0.00       3,150,000.00         1.00000000               0.00
  B-4       0.00            0.00       1,750,000.00         1.00000000               0.00
  B-5       0.00            0.00       1,400,000.00         1.00000000               0.00
  B-6       0.00            0.00       3,150,069.00         1.00000000               0.00
  A-R       0.00            0.00               0.00         0.00000000               0.00
-----------------------------------------------------------------------------------------
Totals      0.00    9,499,093.62     682,247,276.05         0.97464152       9,499,093.62
-----------------------------------------------------------------------------------------
</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.

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                          Beginning      Scheduled    Unscheduled
        Original Face    Certificate     Principal     Principal
 Class     Amount          Balance     Distribution  Distribution  Accretion
----------------------------------------------------------------------------
<S>     <C>             <C>            <C>           <C>           <C>
   A    671,998,000.00   987.72064898   0.00000000    14.13559805  0.00000000
  X-1             0.00     0.00000000   0.00000000     0.00000000  0.00000000
  X-2             0.00     0.00000000   0.00000000     0.00000000  0.00000000
  X-B             0.00     0.00000000   0.00000000     0.00000000  0.00000000
  B-1    11,550,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
  B-2     7,000,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
  B-3     3,150,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
  B-4     1,750,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
  B-5     1,400,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
  B-6     3,150,069.00  1000.00000000   0.00000000     0.00000000  0.00000000
  A-R           100.00     0.00000000   0.00000000     0.00000000  0.00000000
-----------------------------------------------------------------------------

<CAPTION>

         Realized   Total Principal  Ending Certificate  Ending Certificate  Total Principal
 Class   Loss (3)      Reduction          Balance            Percentage       Distribution
--------------------------------------------------------------------------------------------
<S>     <C>         <C>              <C>                 <C>                 <C>
   A    0.00000000    14.13559805       973.58505092           0.97358505      14.13559805
  X-1   0.00000000     0.00000000         0.00000000           0.00000000       0.00000000
  X-2   0.00000000     0.00000000         0.00000000           0.00000000       0.00000000
  X-B   0.00000000     0.00000000         0.00000000           0.00000000       0.00000000
  B-1   0.00000000     0.00000000      1000.00000000           1.00000000       0.00000000
  B-2   0.00000000     0.00000000      1000.00000000           1.00000000       0.00000000
  B-3   0.00000000     0.00000000      1000.00000000           1.00000000       0.00000000
  B-4   0.00000000     0.00000000      1000.00000000           1.00000000       0.00000000
  B-5   0.00000000     0.00000000      1000.00000000           1.00000000       0.00000000
  B-6   0.00000000     0.00000000      1000.00000000           1.00000000       0.00000000
  A-R   0.00000000     0.00000000         0.00000000           0.00000000       0.00000000
------------------------------------------------------------------------------------------
</TABLE>

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

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                             Beginning                  Payment of
                                           Certificate/     Current       Unpaid
        Original Face       Current          Notional       Accrued      Interest
 Class     Amount       Certificate Rate      Balance       Interest    Shortfall
----------------------------------------------------------------------------------
<S>     <C>             <C>               <C>             <C>           <C>
   A    671,998,000.00      1.45000%      663,746,300.67    802,026.78      0.00
  X-1             0.00      0.80000%      623,501,996.31    415,668.00      0.00
  X-2             0.00      0.55641%      663,746,300.67    307,763.34      0.00
  X-B             0.00      0.97677%       18,550,000.00     15,099.29      0.00
  B-1    11,550,000.00      1.60000%       11,550,000.00     15,400.00      0.00
  B-2     7,000,000.00      2.08000%        7,000,000.00     12,133.33      0.00
  B-3     3,150,000.00      2.75791%        3,150,000.00      7,239.50      0.00
  B-4     1,750,000.00      2.75791%        1,750,000.00      4,021.95      0.00
  B-5     1,400,000.00      2.75791%        1,400,000.00      3,217.56      0.00
  B-6     3,150,069.00      2.75791%        3,150,069.00      7,239.66      0.00
  A-R           100.00      2.74914%                0.00          0.00      0.00
--------------------------------------------------------------------------------
Totals  699,998,169.00                                    1,589,809.41      0.00
--------------------------------------------------------------------------------

<CAPTION>
                      Non-                               Remaining      Ending
         Current   Supported                              Unpaid     Certificate/
        Interest    Interest  Realized   Total Interest  Interest     Notational
 Class  Shortfall  Shortfall  Loss (4)    Distribution   Shortfall     Balance
----------------------------------------------------------------------------------
<S>     <C>        <C>        <C>       <C>              <C>        <C>
   A       0.00       0.00      0.00      802,026.78        0.00    654,247,207.05
  X-1      0.00       0.00      0.00      415,668.00        0.00    600,528,818.95
  X-2      0.00       0.00      0.00      307,763.34        0.00    654,247,207.05
  X-B      0.00       0.00      0.00       15,099.29        0.00     18,550,000.00
  B-1      0.00       0.00      0.00       15,400.00        0.00     11,550,000.00
  B-2      0.00       0.00      0.00       12,133.33        0.00      7,000,000.00
  B-3      0.00       0.00      0.00        7,239.50        0.00      3,150,000.00
  B-4      0.00       0.00      0.00        4,021.95        0.00      1,750,000.00
  B-5      0.00       0.00      0.00        3,217.56        0.00      1,400,000.00
  B-6      0.00       0.00      0.00        7,239.66        0.00      3,150,069.00
  A-R      0.00       0.00      0.00            0.00        0.00              0.00
----------------------------------------------------------------------------------
Totals     0.00       0.00      0.00    1,589,809.41        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
                               Current       Beginning                         Unpaid
            Original Face    Certificate    Certificate/    Current Accrued   Interest
Class (5)      Amount            Rate     Notional Balance      Interest      Shortfall
---------------------------------------------------------------------------------------
<S>         <C>              <C>          <C>               <C>              <C>
    A        671,998,000.00    1.45000%      987.72064898     1.19349578     0.00000000
   X-1                 0.00    0.80000%      927.83311306     0.61855541     0.00000000
   X-2                 0.00    0.55641%      987.72064898     0.45798252     0.00000000
   X-B                 0.00    0.97677%     1000.00000000     0.81397790     0.00000000
   B-1        11,550,000.00    1.60000%     1000.00000000     1.33333333     0.00000000
   B-2         7,000,000.00    2.08000%     1000.00000000     1.73333286     0.00000000
   B-3         3,150,000.00    2.75791%     1000.00000000     2.29825397     0.00000000
   B-4         1,750,000.00    2.75791%     1000.00000000     2.29825714     0.00000000
   B-5         1,400,000.00    2.75791%     1000.00000000     2.29825714     0.00000000
   B-6         3,150,069.00    2.75791%     1000.00000000     2.29825442     0.00000000
   A-R               100.00    2.74914%        0.00000000     0.00000000     0.00000000
---------------------------------------------------------------------------------------

<CAPTION>
                          Non-                                  Remaining
             Current    Supported                                Unpaid
            Interest    Interest     Realized   Total Interest   Interest   Ending Certificate/
Class (5)   Shortfall   Shortfall    Loss (6)    Distribution   Shortfall   Notational Balance
-----------------------------------------------------------------------------------------------
<S>        <C>          <C>         <C>         <C>             <C>         <C>
    A      0.00000000   0.00000000  0.00000000    1.19349578    0.00000000      973.58505092
   X-1     0.00000000   0.00000000  0.00000000    0.61855541    0.00000000      893.64673548
   X-2     0.00000000   0.00000000  0.00000000    0.45798252    0.00000000      973.58505092
   X-B     0.00000000   0.00000000  0.00000000    0.81397790    0.00000000     1000.00000000
   B-1     0.00000000   0.00000000  0.00000000    1.33333333    0.00000000     1000.00000000
   B-2     0.00000000   0.00000000  0.00000000    1.73333286    0.00000000     1000.00000000
   B-3     0.00000000   0.00000000  0.00000000    2.29825397    0.00000000     1000.00000000
   B-4     0.00000000   0.00000000  0.00000000    2.29825714    0.00000000     1000.00000000
   B-5     0.00000000   0.00000000  0.00000000    2.29825714    0.00000000     1000.00000000
   B-6     0.00000000   0.00000000  0.00000000    2.29825442    0.00000000     1000.00000000
   A-R     0.00000000   0.00000000  0.00000000    0.00000000    0.00000000        0.00000000
--------------------------------------------------------------------------------------------
</TABLE>

(5) Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits

           Payments of Interest and Principal                                               11,323,045.43
           Liquidations, Insurance Proceeds, Reserve Funds                                           0.00
           Proceeds from Repurchased Loans                                                           0.00
           Other Amounts (Servicer Advances)                                                     2,633.61
           Realized Losses (Gains, Subsequent Expenses & Recoveries)                                 0.00
           Prepayment Penalties                                                                      0.00
                                                                                            -------------
Total Deposits                                                                              11,325,679.04

Withdrawals

           Reimbursement for Servicer Advances                                                  13,745.51
           Payment of Service Fee                                                              223,030.50
           Payment of Interest and Principal                                                11,088,903.03
                                                                                            -------------
Total Withdrawals (Pool Distribution Amount)                                                11,325,679.04

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                                                                  217,554.17
Master Servicing Fee                                                                   5,476.33
Supported Prepayment/Curtailment Interest Shortfall                                        0.00
                                                                                     ----------

Net Servicing Fee                                                                    223,030.50
                                                                                     ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                          Beginning        Current         Current          Ending
     Account Type          Balance       Withdrawals       Deposits         Balance
---------------------     ---------      -----------       --------        --------
<S>                       <C>            <C>               <C>             <C>
Class X-1 Sub Account     4,500.00           0.00            0.00          4,500.00
Class X-2 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

<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        4      1,118,189.20   30 Days        0          0.00   30 Days        0          0.00
60 Days        0              0.00   60 Days        0          0.00   60 Days        0          0.00
90 Days        0              0.00   90 Days        0          0.00   90 Days        0          0.00
120 Days       0              0.00   120 Days       0          0.00   120 Days       0          0.00
150 Days       0              0.00   150 Days       0          0.00   150 Days       0          0.00
180+ Days      0              0.00   180+ Days      0          0.00   180+ Days      0          0.00
           -----------------------              -------------------              -------------------
               4      1,118,189.20                  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    0.202020%      0.163898%  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%
           -----------------------              -------------------              -------------------
           0.202020%      0.163898%             0.000000%  0.000000%             0.000000%  0.000000%
</TABLE>

<TABLE>
<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        4      1,118,189.20
60 Days        0          0.00   60 Days        0              0.00
90 Days        0          0.00   90 Days        0              0.00
120 Days       0          0.00   120 Days       0              0.00
150 Days       0          0.00   150 Days       0              0.00
180+ Days      0          0.00   180+ Days      0              0.00
           -------------------              -----------------------
               0          0.00                  4      1,118,189.20

            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    0.202020%      0.163898%
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%             0.202020%      0.163898%
</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  2,633.61
</TABLE>

<TABLE>
<CAPTION>
             Original $     Original%     Current $     Current %    Current Class %     Prepayment %
           --------------  -----------  -------------  -----------   ---------------     ------------
<S>        <C>             <C>          <C>            <C>           <C>                 <C>
Class A     28,000,069.00  4.00002032%  28,000,069.00  4.10409392%   95.895906%            0.000000%
Class X-1   28,000,069.00  4.00002032%  28,000,069.00  4.10409392%    0.000000%            0.000000%
Class X-2   28,000,069.00  4.00002032%  28,000,069.00  4.10409392%    0.000000%            0.000000%
Class B-1   16,450,069.00  2.35001600%  16,450,069.00  2.41115935%    1.692935%           41.249898%
Class B-2    9,450,069.00  1.35001339%   9,450,069.00  1.38513840%    1.026021%           24.999938%
Class B-3    6,300,069.00  0.90001221%   6,300,069.00  0.92342897%    0.461709%           11.249972%
Class B-4    4,550,069.00  0.65001156%   4,550,069.00  0.66692373%    0.256505%            6.249985%
Class B-5    3,150,069.00  0.45001103%   3,150,069.00  0.46171954%    0.205204%            4.999988%
Class B-6            0.00  0.00000000%           0.00  0.00000000%    0.461720%           11.250219%
</TABLE>

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
            Collateral Description                               Mixed Arm
<S>                                                           <C>
Weighted Average Gross Coupon                                       3.139516%
Weighted Average Net Coupon                                         2.762116%
Weighted Average Pass-Through Rate                                  2.752616%
Weighted Average Maturity (Stepdown Calculation)                         342

Beginning Scheduled Collateral Loan Count                              2,000
Number of Loans Paid in Full                                              20
Ending Scheduled Collateral Loan Count                                 1,980

Beginning Scheduled Collateral Balance                        691,746,369.74
Ending Scheduled Collateral Balance                           682,247,276.12
Ending Actual Collateral Balance at 30-Apr-2004               682,247,612.21

Monthly P&I Constant                                            1,809,790.80
Special Servicing Fee                                                   0.00
Prepayment Penalties                                                    0.00
Realization Loss Amount                                                 0.00
Cumulative Realized Loss                                                0.00

Class A Optimal Amount                                         11,039,651.03

Ending Scheduled Balance for Premium Loans                    682,247,276.12

Scheduled Principal                                                     0.00
Unscheduled Principal                                           9,499,093.62
</TABLE>

<TABLE>
<CAPTION>
    MISCELLANEOUS REPORTING
<S>                                                          <C>
One-Month Libor Loan Balance                                  77,309,645.65
Six-Month Libor Loan Balance                                 604,937,630.47
Prorata Senior Percentage                                         95.952264%
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-00067-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00067-of-00352.parquet"}]]