Document:

<PAGE>

                                                                    EXHIBIT 10.1

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

                                SMT SERIES 2003-5
                           RECORD DATE: APRIL 30, 2004
                         DISTRIBUTION DATE: MAY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                                                                      Beginning
                       Certificate Class  Certificate Pass-Through   Certificate       Interest        Principal
  Class      CUSIP        Description              Rate                Balance       Distribution     Distribution
------------------------------------------------------------------------------------------------------------------
<S>        <C>         <C>                <C>                       <C>              <C>             <C>
   A-1     81743PCJ3          SEN                1.41000%           609,020,954.48     715,599.62    13,060,014.60
   A-2     81743PCK0          SEN                1.50000%           136,902,901.74     171,128.63     4,361,606.89
  X-1A     81743PCL8           IO                1.07201%                     0.00      74,036.88             0.00
  X-1B     81743PCM6           IO                1.35933%                     0.00     596,001.55             0.00
   X-2     81743PCN4           IO                1.26248%                     0.00     144,031.15             0.00
   X-B     81743PCP9           IO                1.03608%                     0.00      12,988.07             0.00
   A-R     81743PCQ7           R                 2.69726%                     0.00           0.00             0.00
   B-1     81743PCR5          SUB                1.70000%            15,043,000.00      21,310.92             0.00
   B-2     81743PCS3          SUB                2.73608%             6,447,000.00      14,699.57             0.00
   B-3     81743PCT1          SUB                2.73608%             6,017,000.00      13,719.14             0.00
   B-4     SEQ0305B4          SUB                2.73608%             2,149,000.00       4,899.86             0.00
   B-5     SEQ0305B5          SUB                2.73608%             1,289,000.00       2,939.00             0.00
   B-6     SEQ0305B6          SUB                2.73608%             3,439,209.40       7,841.61             0.00
------------------------------------------------------------------------------------------------------------------
Totals                                                              780,308,065.62   1,779,196.00    17,421,621.49
------------------------------------------------------------------------------------------------------------------

<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-1     81743PCJ3          SEN                0.00       595,960,939.88      13,775,614.22           0.00
   A-2     81743PCK0          SEN                0.00       132,541,294.85       4,532,735.52           0.00
  X-1A     81743PCL8           IO                0.00                 0.00          74,036.88           0.00
  X-1B     81743PCM6           IO                0.00                 0.00         596,001.55           0.00
   X-2     81743PCN4           IO                0.00                 0.00         144,031.15           0.00
   X-B     81743PCP9           IO                0.00                 0.00          12,988.07           0.00
   A-R     81743PCQ7           R                 0.00                 0.00               0.00           0.00
   B-1     81743PCR5          SUB                0.00        15,043,000.00          21,310.92           0.00
   B-2     81743PCS3          SUB                0.00         6,447,000.00          14,699.57           0.00
   B-3     81743PCT1          SUB                0.00         6,017,000.00          13,719.14           0.00
   B-4     SEQ0305B4          SUB                0.00         2,149,000.00           4,899.86           0.00
   B-5     SEQ0305B5          SUB                0.00         1,289,000.00           2,939.00           0.00
   B-6     SEQ0305B6          SUB                0.00         3,439,209.40           7,841.61           0.00
------------------------------------------------------------------------------------------------------------
Totals                                           0.00       762,886,444.13      19,200,817.49           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>
                 Original       Beginning Certificate  Scheduled Principal     Unscheduled Principal                   Realized
 Class         Face Amount             Balance             Distribution             Distribution        Accretion      Loss (1)
-------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                <C>                    <C>                     <C>                      <C>            <C>
  A-1        675,596,000.00       609,020,954.48            1,942.76                13,058,071.84           0.00          0.00
  A-2        149,609,000.00       136,902,901.74               13.99                 4,361,592.90           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-2                  0.00                 0.00                0.00                         0.00           0.00          0.00
  X-B                  0.00                 0.00                0.00                         0.00           0.00          0.00
  A-R                100.00                 0.00                0.00                         0.00           0.00          0.00
  B-1         15,043,000.00        15,043,000.00                0.00                         0.00           0.00          0.00
  B-2          6,447,000.00         6,447,000.00                0.00                         0.00           0.00          0.00
  B-3          6,017,000.00         6,017,000.00                0.00                         0.00           0.00          0.00
  B-4          2,149,000.00         2,149,000.00                0.00                         0.00           0.00          0.00
  B-5          1,289,000.00         1,289,000.00                0.00                         0.00           0.00          0.00
  B-6          3,439,209.40         3,439,209.40                0.00                         0.00           0.00          0.00
------------------------------------------------------------------------------------------------------------------------------
Totals       859,589,309.40       780,308,065.62            1,956.75                17,419,664.74           0.00          0.00
------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
             Total Principal    Ending Certificate     Ending Certificate     Total Principal
 Class          Reduction            Balance               Percentage          Distribution
----------------------------------------------------------------------------------------------
<S>          <C>                <C>                    <C>                    <C>
  A-1        13,060,014.60        595,960,939.88             0.88212621         13,060,014.60
  A-2         4,361,606.89        132,541,294.85             0.88591793          4,361,606.89
 X-1A                 0.00                  0.00             0.00000000                  0.00
 X-1B                 0.00                  0.00             0.00000000                  0.00
  X-2                 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         15,043,000.00             1.00000000                  0.00
  B-2                 0.00          6,447,000.00             1.00000000                  0.00
  B-3                 0.00          6,017,000.00             1.00000000                  0.00
  B-4                 0.00          2,149,000.00             1.00000000                  0.00
  B-5                 0.00          1,289,000.00             1.00000000                  0.00
  B-6                 0.00          3,439,209.40             1.00000000                  0.00
---------------------------------------------------------------------------------------------
Totals       17,421,621.49        762,886,444.13             0.88750108         17,421,621.49
---------------------------------------------------------------------------------------------
</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>
               Original        Beginning Certificate  Scheduled Principal     Unscheduled Principal                   Realized
 Class       Face Amount             Balance             Distribution             Distribution        Accretion       Loss (3)
-------------------------------------------------------------------------------------------------------------------------------
<S>        <C>                 <C>                    <C>                     <C>                     <C>             <C>
  A-1      675,596,000.00          901.45731248           0.00287562                19.32822551       0.00000000      0.00000000
  A-2      149,609,000.00          915.07129745           0.00009351                29.15327888       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-2                0.00            0.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
  X-B                0.00            0.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
  A-R              100.00            0.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
  B-1       15,043,000.00         1000.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
  B-2        6,447,000.00         1000.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
  B-3        6,017,000.00         1000.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
  B-4        2,149,000.00         1000.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
  B-5        1,289,000.00         1000.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
  B-6        3,439,209.40         1000.00000000           0.00000000                 0.00000000       0.00000000      0.00000000
--------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
             Total Principal    Ending Certificate    Ending Certificate      Total Principal
 Class          Reduction            Balance              Percentage           Distribution
----------------------------------------------------------------------------------------------
<S>          <C>                <C>                   <C>                     <C>
  A-1          19.33110113         882.12621135          0.88212621              19.33110113
  A-2          29.15337239         885.91792506          0.88591793              29.15337239
 X-1A           0.00000000           0.00000000          0.00000000               0.00000000
 X-1B           0.00000000           0.00000000          0.00000000               0.00000000
  X-2           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-
                                                  Certificate/       Current         Unpaid       Current    Supported
              Original Face         Current         Notional         Accrued        Interest      Interest    Interest   Realized
 Class            Amount       Certificate Rate     Balance          Interest       Shortfall    Shortfall   Shortfall   Loss (4)
-----------------------------------------------------------------------------------------------------------------------------------
<S>          <C>               <C>               <C>             <C>                <C>          <C>         <C>         <C>
  A-1        675,596,000.00        1.41000%      609,020,954.48    715,599.62         0.00          0.00       0.00        0.00
  A-2        149,609,000.00        1.50000%      136,902,901.74    171,128.63         0.00          0.00       0.00        0.00
 X-1A                  0.00        1.07201%       82,876,652.82     74,036.88         0.00          0.00       0.00        0.00
 X-1B                  0.00        1.35933%      526,144,301.66    596,001.56         0.00          0.00       0.00        0.00
  X-2                  0.00        1.26248%      136,902,901.74    144,031.15         0.00          0.00       0.00        0.00
  X-B                  0.00        1.03608%       15,043,000.00     12,988.07         0.00          0.00       0.00        0.00
  A-R                100.00        2.69726%                0.00          0.00         0.00          0.00       0.00        0.00
  B-1         15,043,000.00        1.70000%       15,043,000.00     21,310.92         0.00          0.00       0.00        0.00
  B-2          6,447,000.00        2.73608%        6,447,000.00     14,699.57         0.00          0.00       0.00        0.00
  B-3          6,017,000.00        2.73608%        6,017,000.00     13,719.14         0.00          0.00       0.00        0.00
  B-4          2,149,000.00        2.73608%        2,149,000.00      4,899.86         0.00          0.00       0.00        0.00
  B-5          1,289,000.00        2.73608%        1,289,000.00      2,939.00         0.00          0.00       0.00        0.00
  B-6          3,439,209.40        2.73608%        3,439,209.40      7,841.61         0.00          0.00       0.00        0.00
-------------------------------------------------------------------------------------------------------------------------------
Totals       859,589,309.40                                      1,779,196.01         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           715,599.62        0.00       595,960,939.88
  A-2           171,128.63        0.00       132,541,294.85
 X-1A            74,036.88        0.00        81,184,588.78
 X-1B           596,001.55        0.00       514,776,351.10
  X-2           144,031.15        0.00       132,541,294.85
  X-B            12,988.07        0.00        15,043,000.00
  A-R                 0.00        0.00                 0.00
  B-1            21,310.92        0.00        15,043,000.00
  B-2            14,699.57        0.00         6,447,000.00
  B-3            13,719.14        0.00         6,017,000.00
  B-4             4,899.86        0.00         2,149,000.00
  B-5             2,939.00        0.00         1,289,000.00
  B-6             7,841.61        0.00         3,439,209.40
-----------------------------------------------------------
Totals        1,779,196.00        0.00
-----------------------------------------------------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                Payment of                    Non-
                                Current       Beginning                           Unpaid        Current    Supported
               Original Face  Certificate    Certificate/     Current Accrued    Interest      Interest     Interest      Realized
Class (5)         Amount         Rate      Notional Balance       Interest      Shortfall      Shortfall    Shortfall     Loss (6)
---------    ---------------  -----------  ----------------   ----------------  ----------    ----------   -----------   -----------
<S>          <C>              <C>          <C>                <C>               <C>           <C>          <C>           <C>
  A-1        675,596,000.00    1.41000%       901.45731248       1.05921234     0.00000000    0.00000000   (0.0000001)   0.00000000
  A-2        149,609,000.00    1.50000%       915.07129745       1.14383914     0.00000000    0.00000000    0.00000000   0.00000000
  X-1A                 0.00    1.07201%       921.80321954       0.82348203     0.00000000    0.00000000    0.00000000   0.00000000
  X-1B                 0.00    1.35933%       898.33408193       1.01760774     0.00000000    0.00000000   (0.0000002)   0.00000000
  X-2                  0.00    1.26248%       915.01729745       0.96271715     0.00000000    0.00000000    0.00000000   0.00000000
  X-B                  0.00    1.03608%      1000.00000000       0.86339626     0.00000000    0.00000000    0.00000000   0.00000000
  A-R                100.00    2.69726%         0.00000000       0.00000000     0.00000000    0.00000000    0.00000000   0.00000000
  B-1         15,043,000.00    1.70000%      1000.00000000       1.41666689     0.00000000    0.00000000    0.00000000   0.00000000
  B-2          6,447,000.00    2.73608%      1000.00000000       2.28006360     0.00000000    0.00000000    0.00000000   0.00000000
  B-3          6,017,000.00    2.73608%      1000.00000000       2.28006315     0.00000000    0.00000000    0.00000000   0.00000000
  B-4          2,149,000.00    2.73608%      1000.00000000       2.28006515     0.00000000    0.00000000    0.00000000   0.00000000
  B-5          1,289,000.00    2.73608%      1000.00000000       2.28006206     0.00000000    0.00000000    0.00000000   0.00000000
  B-6          3,439,209.40    2.73608%      1000.00000000       2.28006181     0.00000000    0.00000000    0.00000000   0.00000000

<CAPTION>
                              Remaining
                                Unpaid
             Total Interest    Interest         Ending Certificate/
Class (5)     Distribution     Shortfall        Notational Balance
---------    --------------  ------------       -------------------
<S>           <C>            <C>                <C>
  A-1          1.05921234      0.00000000          882.12621135
  A-2          1.14383914      0.00000000          885.91792506
  X-1A         0.82348203      0.00000000          902.98308110
  X-1B         1.01760772      0.00000000          878.92454466
  X-2          0.96271715      0.00000000          885.91792506
  X-B          0.86339626      0.00000000         1000.00000000
  A-R          0.00000000      0.00000000            0.00000000
  B-1          1.41666689      0.00000000         1000.00000000
  B-2          2.28006360      0.00000000         1000.00000000
  B-3          2.28006315      0.00000000         1000.00000000
  B-4          2.28006515      0.00000000         1000.00000000
  B-5          2.28006206      0.00000000         1000.00000000
  B-6          2.28006181      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                                 19,450,285.03
               Liquidations, Insurance Proceeds, Reserve Funds                             0.00
               Proceeds from Repurchased Loans                                             0.00
               Other Amounts (Servicer Advances)                                      12,922.74
               Realized Losses (Gains, Subsequent Expenses & Recoveries)                   0.00
               Prepayment Penalties                                                        0.00
                                                                                  -------------
Total Deposits                                                                    19,463,207.77

Withdrawals
               Reimbursement for Servicer Advances                                    13,509.27
               Payment of Service Fee                                                248,881.02
               Payment of Interest and Principal                                  19,200,817.48
                                                                                  -------------
Total Withdrawals (Pool Distribution Amount)                                      19,463,207.77

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                                             244,004.10
Master Servicing Fee                                              4,876.92
Supported Prepayment/Curtailment Interest Shortfall                   0.00
                                                                ----------

Net Servicing Fee                                               248,881.02
                                                                ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
     Account Type         Beginning Balance           Current Withdrawals         Current Deposits       Ending Balance
     ------------         -----------------           -------------------         ----------------       --------------
<S>                       <C>                         <C>                         <C>                    <C>
Class X-1 Reserve Fund        5,000.00                       0.00                        0.00                5,000.00
Class X-2 Reserve Fund        2,500.00                       0.00                        0.00                2,500.00
Class X-B Reserve Fund        2,500.00                       0.00                        0.00                2,500.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
               DELINQUENT                                  BANKRUPTCY                                FORECLOSURE
-----------------------------------------------------------------------------------------------------------------------------------
                 No. of                                      No. of                                     No. of
                  Loans     Principal Balance                 Loans   Principal Balance                  Loans   Principal 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            16             5,174,482.52   30 Days        0             0.00        30 Days          0                   0.00
60 Days             1               111,668.43   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
                  ----------------------------             -----------------------                        -------------------------
                   17             5,286,150.95                  0             0.00                         0                   0.00

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

0-29 Days       0.000000%             0.000000%  0-29 Days  0.000000%     0.000000%       0-29 Days    0.000000%           0.000000%
30 Days         0.756859%             0.678275%  30 Days    0.000000%     0.000000%       30 Days      0.000000%           0.000000%
60 Days         0.047304%             0.014638%  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%
                ------------------------------              ----------------------                     ----------------------------
                0.804163%             0.692912%             0.000000%     0.000000%                    0.000000%           0.000000%

<CAPTION>
                     REO                                                TOTAL
-----------------------------------------------------------------------------------------------------
                    No. of                                             No. of
                    Loans          Principal Balance                    Loans       Principal 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            16            5,174,482.52
 60 Days               0                   0.00        60 Days            1               111,668.43
 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                           17            5,286,150.95

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

 0-29 Days         0.000000%           0.000000%       0-29 Days      0.000000%             0.000000%
 30 Days           0.000000%           0.000000%       30 Days        0.756859%             0.678275%
 60 Days           0.000000%           0.000000%       60 Days        0.047304%             0.014638%
 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%                      0.804163%             0.692912%
</TABLE>

<TABLE>
<S>                                        <C>                                                    <C>                      <C>
Current Period Class A Insufficient Funds  0.00    Principal Balance of Contaminated Properties   0.00   Periodic Advance  12,922.74
</TABLE>

<PAGE>

     SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
                                   PERCENTAGE

<TABLE>
<CAPTION>
                        Original $        Original%            Current $              Current %     Current Class %  Prepayment %
                        ----------        ---------            ---------              ---------     ---------------  ------------
<S>                  <C>                 <C>                 <C>                     <C>            <C>              <C>
Class A              34,384,209.40       4.00007411%         34,384,209.40           4.50712025%       95.492880%      0.000000%
Class X-1-A          34,384,209.40       4.00007411%         34,384,209.40           4.50712025%        0.000000%      0.000000%
Class X-1-B          34,384,209.40       4.00007411%         34,384,209.40           4.50712025%        0.000000%      0.000000%
Class X-2            34,384,209.40       4.00007411%         34,384,209.40           4.50712025%        0.000000%      0.000000%
Class B-1            19,341,209.40       2.25005234%         19,341,209.40           2.53526715%        1.971853%     43.749734%
Class B-2            12,894,209.40       1.50004302%         12,894,209.40           1.69018725%        0.845080%     18.749886%
Class B-3             6,877,209.40       0.80005758%          6,877,209.40           0.90147222%        0.788715%     17.499312%
Class B-4             4,728,209.40       0.55005447%          4,728,209.40           0.61977892%        0.281693%      6.249962%
Class B-5             3,439,209.40       0.40009914%          3,439,209.40           0.45081538%        0.168964%      3.748814%
Class B-6                     0.00       0.00000000%                  0.00           0.00000000%        0.450815%     10.002293%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
           DELINQUENT                                BANKRUPTCY                              FORECLOSURE
---------------------------------------------------------------------------------------------------------------------------
ONE-MONTH LIBOR - GROUP 1
            No. of                                     No. of                                   No. of
             Loans    Principal Balance                 Loans   Principal Balance                Loans   Principal 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        1             143,982.75   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
            ---------------------------                --------------------------               --------------------------
               1             143,982.75                   0                  0.00                  0                 0.00

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

0-29 Days  0.000000%           0.000000%  0-29 Days   0.000000%          0.000000%  0-29 Days  0.000000%         0.000000%
30 Days    0.523560%           0.169353%  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%
           -----------------------------              ----------------------------             ---------------------------
           0.523560%           0.169353%              0.000000%          0.000000%             0.000000%         0.000000%
--------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                      REO                                                       TOTAL
-------------------------------------------------------------------------------------------------------------------
                    No. of                                                      No. of
                     Loans         Principal Balance                             Loans            Principal 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                     1                     143,982.75
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                               1                     143,982.75

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

0-29 Days          0.000000%                0.000000%  0-29 Days               0.000000%                   0.000000%
30 Days            0.000000%                0.000000%  30 Days                 0.523560%                   0.169353%
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%                          0.523560%                   0.169353%
-------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
              DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
----------------------------------------------------------------------------------------------------------------------------------
SIX-MONTH LIBOR - GROUP 1
               No. of                                        No. of                                      No. of
                Loans        Principal Balance               Loans      Principal Balance                Loans    Principal 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          10               3,726,747.19   30 Days       0                     0.00   30 Days         0                 0.00
60 Days           1                 111,668.43   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
              --------------------------------             ------------------------------               --------------------------
                 11               3,838,415.62                 0                     0.00                   0                 0.00

               No. of                                        No. of                                      No. of
                Loans        Principal Balance               Loans      Principal Balance                Loans    Principal Balance
0-29 Days     0.000000%               0.000000%  0-29 Days 0.000000%             0.000000%  0-29 Days   0.000000%         0.000000%
30 Days       0.645161%               0.691298%  30 Days   0.000000%             0.000000%  30 Days     0.000000%         0.000000%
60 Days       0.064516%               0.020714%  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%
              --------------------------------              -----------------------------               --------------------------
              0.709677%               0.712013%            0.000000%             0.000000%              0.000000%         0.000000%

<CAPTION>
                          REO                                                  TOTAL
                        No. of                                                 No. of
                         Loans    Principal Balance                            Loans              Principal 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                   10                     3,726,747.19
60 Days                    0                   0.00   60 Days                    1                       111,668.43
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                              11                    3,838,415.62

                        No. of                                                 No. of
                         Loans    Principal Balance                            Loans              Principal Balance
0-29 Days              0.000000%           0.000000%  0-29 Days              0.000000%                     0.000000%
30 Days                0.000000%           0.000000%  30 Days                0.645161%                     0.691298%
60 Days                0.000000%           0.000000%  60 Days                0.064516%                     0.020714%
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%                         0.709677%                     0.712013%
</TABLE>

<TABLE>
<CAPTION>
                 DELINQUENT                                  BANKRUPTCY                             FORECLOSURE
----------------------------------------------------------------------------------------------------------------------------------
SIX-MONTH LIBOR - GROUP 2
                  No. of                                      No. of                                    No. of
                   Loans      Principal Balance               Loans     Principal Balance                Loans   Principal 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              5             1,303,752.58   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
                 ------------------------------              ----------------------------              --------------------------
                     5             1,303,752.58                  0                   0.00                  0                 0.00

                  No. of      Principal Balance               No. of    Principal Balance               No. of   Principal Balance
                   Loans                                       Loans                                     Loans
0-29 Days        0.000000%             0.000000%  0-29 Days  0.000000%           0.000000%  0-29 Days  0.000000%         0.000000%
30 Days          1.340483%             0.939465%  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%
                 ------------------------------              ----------------------------              --------------------------
                 1.340483%             0.939465%             0.000000%           0.000000%             0.000000%         0.000000%

<CAPTION>
                         REO                                                   TOTAL
------------------------------------------------------------------------------------------------------------------
                        No. of                                                No. of
                         Loans    Principal Balance                           Loans              Principal 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                     5                   1,303,752.58
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                               5                   1,303,752.58

                        No. of                                                No. of
                         Loans    Principal Balance                           Loans              Principal Balance
0-29 Days              0.000000%           0.000000%  0-29 Days               0.000000%                   0.000000%
30 Days                0.000000%           0.000000%  30 Days                 1.340483%                   0.939465%
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%                          1.340483%                   0.939465%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT
<TABLE>
<CAPTION>
Collateral Description                                             Mixed Arm
<S>                                                           <C>
Weighted Average Gross Coupon                                       3.118887%
Weighted Average Net Coupon                                         2.743644%
Weighted Average Pass-Through Rate                                  2.736144%
Weighted Average Maturity (Stepdown Calculation)                         328

Beginning Scheduled Collateral Loan Count                              2,151
Number of Loans Paid in Full                                              37
Ending Scheduled Collateral Loan Count                                 2,114

Beginning Scheduled Collateral Balance                        780,308,065.62
Ending Scheduled Collateral Balance                           762,886,444.13
Ending Actual Collateral Balance at 30-Apr-2004               762,889,116.30

Monthly P&I Constant                                            2,030,033.77
Special Servicing Fee                                                   0.00
Prepayment Penalties                                                    0.00
Realized Loss Amount                                                    0.00
Cumulative Realized Loss                                                0.00

Class A Optimal Amount                                         19,122,419.32

Ending Scheduled Balance for Premium Loans                    762,886,444.13

Scheduled Principal                                                 1,956.75
Unscheduled Principal                                          17,419,664.74
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
Pro Rata Senior Percent - Group 1                                  95.582093%
Pro Rata Senior Percent - Group 2                                  95.644322%

Senior Percent - Group 1                                          100.000000%
Senior Percent - Group 2                                          100.000000%

Senior Prepayment Percent - Group 1                               100.000000%
Senior Prepayment Percent - Group 2                               100.000000%

Subordinate Percent - Group 1                                       0.000000%
Subordinate Percent - Group 2                                       0.000000%

Subordinate Prepayment Percent - Group 1                            0.000000%
Subordinate Prepayment Percent - Group 2                            0.000000%

Principal Transfer Amount - Group 1                                     0.00
Principal Transfer Amount - Group 2                                     0.00

Interest Transfer Amount - Group 1                                      0.00
Interest Transfer Amount - Group 2                                      0.00
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
             GROUP                     1 MO. LIBOR - GR 1           6 MO LIBOR - GR 1          6 MO LIBOR - GR 2            TOTAL
<S>                                    <C>                          <C>                        <C>                  <C>
Collateral Description                  1 Month LIBOR ARM           6 Month LIBOR ARM           6 Month LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate                     2.864506                    3.152129                    3.145143         3.118887
Weighted Average Net Rate                        2.489506                    2.776826                    2.769981         2.743644
Pass-Through Rate                                2.482006                    2.769326                    2.762481         2.736144
Weighted Average Maturity                             313                         331                         328              328
Record Date                                    04/30/2004                  04/30/2004                  04/30/2004       04/30/2004
Principal and Interest Constant                206,977.97                1,447,885.19                  375,170.61     2,030,033.77
Beginning Loan Count                                  193                       1,575                         383            2,151
Loans Paid in Full                                      2                          25                          10               37
Ending Loan Count                                     191                       1,550                         373            2,114
Beginning Scheduled Balance                 86,707,300.43              550,463,254.54              143,137,510.65   780,308,065.62
Ending Scheduled Balance                    85,019,259.12              539,091,281.25              138,775,903.76   762,886,444.13
Scheduled Principal                                  0.00                    1,942.76                       13.99         1,956.75
Unscheduled Principal                        1,688,041.31               11,370,030.53                4,361,592.90    17,419,664.74
Scheduled Interest                             206,977.97                1,445,942.43                  375,156.62     2,028,077.02
Servicing Fee                                   27,096.03                  172,158.33                   44,749.74       244,004.10
Master Servicing Fee                               541.92                    3,440.39                      894.61         4,876.92
Trustee Fee                                          0.00                        0.00                        0.00             0.00
FRY Amount                                           0.00                        0.00                        0.00             0.00
Special Hazard Fee                                   0.00                        0.00                        0.00             0.00
Other Fee                                            0.00                        0.00                        0.00             0.00
Pool Insurance Fee                                   0.00                        0.00                        0.00             0.00
Spread 1                                             0.00                        0.00                        0.00             0.00
Spread 2                                             0.00                        0.00                        0.00             0.00
Spread 3                                             0.00                        0.00                        0.00             0.00
Net Interest                                   179,340.02                1,270,343.71                  395,512.27     1,779,196.00
Realized Loss Amount                                 0.00                        0.00                        0.00             0.00
Cumulative Realized Loss                             0.00                        0.00                        0.00             0.00
Percentage of Cumulative Losses                      0.00                        0.00                        0.00             0.00
Prepayment Penalties                                 0.00                        0.00                        0.00             0.00
Special Servicing Fee                                0.00                        0.00                        0.00             0.00
</TABLE><PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2003-6
                           RECORD DATE: APRIL 30, 2004
                         DISTRIBUTION DATE: MAY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate     Certificate         Beginning
                                 Class           Pass-           Certificate        Interest        Principal        Current
   Class          CUSIP       Description     Through Rate         Balance        Distribution    Distribution    Realized Loss
-------------------------------------------------------------------------------------------------------------------------------
<S>             <C>           <C>             <C>              <C>                <C>             <C>             <C>
    A-1         81743PCX2         SEN           1.41000%       426,688,236.65       501,358.67    8,595,170.22         0.00
    X-1         81743PCZ7          IO           0.80000%                 0.00       340,038.16            0.00         0.00
    A-2         81743PCY0         SEN           1.61000%       168,482,157.07       226,046.89    1,245,179.45         0.00
    X-2         81743PDA1          IO           0.50582%                 0.00       250,873.53            0.00         0.00
    B-1         81743PDD5         SUB           1.68000%        11,287,000.00        15,801.80            0.00         0.00
    X-B         81743PDB9          IO           0.97802%                 0.00         9,199.04            0.00         0.00
    B-2         81743PDE3         SUB           2.65802%         5,643,000.00        12,499.31            0.00         0.00
    B-3         81743PDF0         SUB           2.65802%         3,320,000.00         7,353.84            0.00         0.00
    B-4         81743PDG8         SUB           2.65802%         1,660,000.00         3,676.92            0.00         0.00
    B-5         81743PDH6         SUB           2.65802%           996,000.00         2,206.15            0.00         0.00
    B-6         81743PDJ2         SUB           2.65802%         2,323,950.00         5,147.58            0.00         0.00
    A-R         81743PDC7         RES           2.65853%                 0.00             0.00            0.00         0.00
---------------------------------------------------------------------------------------------------------------------------
Totals                                                         620,400,343.72     1,374,201.89    9,840,349.67         0.00
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                  Ending
                Certificate          Total          Cumulative
   Class          Balance         Distribution     Realized Loss
----------------------------------------------------------------
<S>           <C>                <C>               <C>
    A-1       418,093,066.43      9,096,528.89         0.00
    X-1                 0.00        340,038.16         0.00
    A-2       167,236,977.62      1,471,226.34         0.00
    X-2                 0.00        250,873.53         0.00
    B-1        11,287,000.00         15,801.80         0.00
    X-B                 0.00          9,199.04         0.00
    B-2         5,643,000.00         12,499.31         0.00
    B-3         3,320,000.00          7,353.84         0.00
    B-4         1,660,000.00          3,676.92         0.00
    B-5           996,000.00          2,206.15         0.00
    B-6         2,323,950.00          5,147.58         0.00
    A-R                 0.00              0.00         0.00
-----------------------------------------------------------
Totals        610,559,994.05     11,214,551.56         0.00
-----------------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                    Beginning         Scheduled      Unscheduled
               Original Face       Certificate        Principal       Principal                    Realized   Total Principal
   Class           Amount            Balance        Distribution     Distribution     Accretion    Loss (1)      Reduction
-----------------------------------------------------------------------------------------------------------------------------
<S>            <C>                <C>               <C>              <C>              <C>          <C>        <C>
    A-1        458,238,000.00     426,688,236.65       1,098.44      8,594,071.78        0.00         0.00      8,595,170.22
    X-1                  0.00               0.00           0.00              0.00        0.00         0.00              0.00
    A-2        180,474,000.00     168,482,157.07         288.65      1,244,890.80        0.00         0.00      1,245,179.45
    X-2                  0.00               0.00           0.00              0.00        0.00         0.00              0.00
    B-1         11,287,000.00      11,287,000.00           0.00              0.00        0.00         0.00              0.00
    B-2          5,643,000.00       5,643,000.00           0.00              0.00        0.00         0.00              0.00
    B-3          3,320,000.00       3,320,000.00           0.00              0.00        0.00         0.00              0.00
    B-4          1,660,000.00       1,660,000.00           0.00              0.00        0.00         0.00              0.00
    B-5            996,000.00         996,000.00           0.00              0.00        0.00         0.00              0.00
    B-6          2,323,950.00       2,323,950.00           0.00              0.00        0.00         0.00              0.00
    A-R                100.00               0.00           0.00              0.00        0.00         0.00              0.00
----------------------------------------------------------------------------------------------------------------------------
Totals         663,942,050.00     620,400,343.72       1,387.09      9,838,962.58        0.00         0.00      9,840,349.67
----------------------------------------------------------------------------------------------------------------------------

<CAPTION>
           Ending Certificate    Ending Certificate   Total Principal
   Class        Balance               Percentage        Distribution
---------------------------------------------------------------------
<S>        <C>                   <C>                  <C>
    A-1       418,093,066.43          0.91239283       8,595,170.22
    X-1                 0.00          0.00000000               0.00
    A-2       167,236,977.62          0.92665413       1,245,179.45
    X-2                 0.00          0.00000000               0.00
    B-1        11,287,000.00          1.00000000               0.00
    B-2         5,643,000.00          1.00000000               0.00
    B-3         3,320,000.00          1.00000000               0.00
    B-4         1,660,000.00          1.00000000               0.00
    B-5           996,000.00          1.00000000               0.00
    B-6         2,323,950.00          1.00000000               0.00
    A-R                 0.00          0.00000000               0.00
-------------------------------------------------------------------
Totals        610,559,994.05          0.91959832       9,840,349.67
-------------------------------------------------------------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                Beginning      Scheduled       Unscheduled
            Original Face      Certificate     Principal        Principal                     Realized     Total Principal
Class          Amount            Balance      Distribution    Distribution     Accretion      Loss (3)        Reduction
--------------------------------------------------------------------------------------------------------------------------
<S>        <C>                <C>             <C>             <C>             <C>            <C>           <C>
 A-1       458,238,000.00      931.14983186    0.00239709      18.75460302    0.00000000     0.00000000      18.75700012
 X-1                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 A-2       180,474,000.00      933.55362584    0.00159940       6.89789554    0.00000000     0.00000000       6.89949494
 X-2                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-1        11,287,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 X-B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-2         5,643,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-3         3,320,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-4         1,660,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-5           996,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-6         2,323,950.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 A-R               100.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
------------------------------------------------------------------------------------------------------------------------

<CAPTION>
       Ending Certificate   Ending Certificate    Total Principal
Class        Balance             Percentage        Distribution
-----------------------------------------------------------------
<S>    <C>                  <C>                   <C>
 A-1       912.39283174          0.91239283        18.75700012
 X-1         0.00000000          0.00000000         0.00000000
 A-2       926.65413090          0.92665413         6.89949494
 X-2         0.00000000          0.00000000         0.00000000
 B-1      1000.00000000          1.00000000         0.00000000
 X-B         0.00000000          0.00000000         0.00000000
 B-2      1000.00000000          1.00000000         0.00000000
 B-3      1000.00000000          1.00000000         0.00000000
 B-4      1000.00000000          1.00000000         0.00000000
 B-5      1000.00000000          1.00000000         0.00000000
 B-6      1000.00000000          1.00000000         0.00000000
 A-R         0.00000000          0.00000000         0.00000000
--------------------------------------------------------------
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                   Beginning                      Payment of                    Non-
                                    Current      Certificate/       Current         Unpaid       Current      Supported
              Original Face       Certificate       Notional        Accrued        Interest      Interest      Interest    Realized
 Class           Amount              Rate           Balance         Interest       Shortfall     Shortfall    Shortfall    Loss (4)
-----------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                  <C>           <C>                <C>            <C>            <C>          <C>          <C>
  A-1        458,238,000.00         1.41000%    426,688,236.65     501,358.68         0.00          0.00         0.00        0.00
  X-1                  0.00         0.80000%    510,057,243.67     340,038.16         0.00          0.00         0.00        0.00
  A-2        180,474,000.00         1.61000%    168,482,157.07     226,046.89         0.00          0.00         0.00        0.00
  X-2                  0.00         0.50582%    595,170,393.72     250,873.53         0.00          0.00         0.00        0.00
  B-1         11,287,000.00         1.68000%     11,287,000.00      15,801.80         0.00          0.00         0.00        0.00
  X-B                  0.00         0.97802%     11,287,000.00       9,199.04         0.00          0.00         0.00        0.00
  B-2          5,643,000.00         2.65802%      5,643,000.00      12,499.31         0.00          0.00         0.00        0.00
  B-3          3,320,000.00         2.65802%      3,320,000.00       7,353.84         0.00          0.00         0.00        0.00
  B-4          1,660,000.00         2.65802%      1,660,000.00       3,676.92         0.00          0.00         0.00        0.00
  B-5            996,000.00         2.65802%        996,000.00       2,206.15         0.00          0.00         0.00        0.00
  B-6          2,323,950.00         2.65802%      2,323,950.00       5,147.58         0.00          0.00         0.00        0.00
  A-R                100.00         2.65853%              0.00           0.00         0.00          0.00         0.00        0.00
---------------------------------------------------------------------------------------------------------------------------------
Totals       663,942,050.00                                      1,374,201.90         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       501,358.67         0.00       418,093,066.43
  X-1       340,038.16         0.00       491,182,019.32
  A-2       226,046.89         0.00       167,236,977.62
  X-2       250,873.53         0.00       585,330,044.05
  B-1        15,801.80         0.00        11,287,000.00
  X-B         9,199.04         0.00        11,287,000.00
  B-2        12,499.31         0.00         5,643,000.00
  B-3         7,353.84         0.00         3,320,000.00
  B-4         3,676.92         0.00         1,660,000.00
  B-5         2,206.15         0.00           996,000.00
  B-6         5,147.58         0.00         2,323,950.00
  A-R             0.00         0.00                 0.00
--------------------------------------------------------
Totals    1,374,201.89         0.00
--------------------------------------------------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                   Payment of                     Non-
                                Current         Beginning                            Unpaid       Current     Supported
              Original Face    Certificate     Certificate/      Current Accrued    Interest      Interest     Interest
Class (5)         Amount          Rate       Notional Balance        Interest      Shortfall     Shortfall    Shortfall
------------------------------------------------------------------------------------------------------------------------
<S>           <C>              <C>           <C>                 <C>               <C>          <C>           <C>
   A-1        458,238,000.00    1.41000%        931.14983186        1.09410106     0.00000000   0.00000000    0.00000000
   X-1                  0.00    0.80000%        798.57156852        0.53238104     0.00000000   0.00000000    0.00000000
   A-2        180,474,000.00    1.61000%        933.55362584        1.25251776     0.00000000   0.00000000    0.00000000
   X-2                  0.00    0.50582%        931.82904614        0.39278036     0.00000000   0.00000000    0.00000000
   B-1         11,287,000.00    1.68000%       1000.00000000        1.40000000     0.00000000   0.00000000    0.00000000
   X-B                  0.00    0.97802%       1000.00000000        0.81501196     0.00000000   0.00000000    0.00000000
   B-2          5,643,000.00    2.65802%       1000.00000000        2.21501152     0.00000000   0.00000000    0.00000000
   B-3          3,320,000.00    2.65802%       1000.00000000        2.21501205     0.00000000   0.00000000    0.00000000
   B-4          1,660,000.00    2.65802%       1000.00000000        2.21501205     0.00000000   0.00000000    0.00000000
   B-5            996,000.00    2.65802%       1000.00000000        2.21501004     0.00000000   0.00000000    0.00000000
   B-6          2,323,950.00    2.65802%       1000.00000000        2.21501323     0.00000000   0.00000000    0.00000000
   A-R                100.00    2.65853%          0.00000000        0.00000000     0.00000000   0.00000000    0.00000000
------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                                             Remaining
                                              Unpaid
              Realized     Total Interest     Interest    Ending Certificate/
Class (5)     Loss (6)      Distribution     Shortfall    Notational Balance
-----------------------------------------------------------------------------
<S>          <C>           <C>              <C>           <C>
   A-1       0.00000000      1.09410103     0.00000000         912.39283174
   X-1       0.00000000      0.53238104     0.00000000         769.01955705
   A-2       0.00000000      1.25251776     0.00000000         926.65413090
   X-2       0.00000000      0.39278036     0.00000000         916.42249410
   B-1       0.00000000      1.40000000     0.00000000        1000.00000000
   X-B       0.00000000      0.81501196     0.00000000        1000.00000000
   B-2       0.00000000      2.21501152     0.00000000        1000.00000000
   B-3       0.00000000      2.21501205     0.00000000        1000.00000000
   B-4       0.00000000      2.21501205     0.00000000        1000.00000000
   B-5       0.00000000      2.21501004     0.00000000        1000.00000000
   B-6       0.00000000      2.21501323     0.00000000        1000.00000000
   A-R       0.00000000      0.00000000     0.00000000           0.00000000
---------------------------------------------------------------------------
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits

         Payments of Interest and Principal                             11,400,432.70
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                  12,697.76
         Realized Losses (Gains, Subsequent Expenses & Recoveries)               0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          11,413,130.46

Withdrawals

         Reimbursement for Servicer Advances                                11,211.89
         Payment of Service Fee                                            187,357.01
         Payment of Interest and Principal                              11,214,551.56
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            11,413,130.46

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                                            182,187.00
Master Servicing Fee                                             5,170.01
Supported Prepayment/Curtailment Interest Shortfall                  0.00
                                                               ----------
Net Servicing Fee                                              187,357.01
                                                               ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                             Beginning          Current          Current       Ending
         Account Type                         Balance         Withdrawals       Deposits       Balance
-------------------------------------------------------------------------------------------------------
<S>                                          <C>              <C>               <C>            <C>
Class A-1 Companion Sub Account               4,000.00            0.00             0.00        4,000.00
Class A-1 NAS Sub Account                     1,000.00            0.00             0.00        1,000.00
Class A-2 Companion Sub Account                 500.00            0.00             0.00          500.00
Class A-2 NAS Sub Account                     2,000.00            0.00             0.00        2,000.00
Class B-1 Sub Account                         2,500.00            0.00             0.00        2,500.00
-------------------------------------------------------------------------------------------------------
</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              15   5,807,223.96   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
                 ---------------------                -------------------                 -------------------
                     15   5,807,223.96                      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        0.837521%      0.951129%  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%
               -----------------------               --------------------                --------------------
               0.837521%      0.951129%              0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                REO                                 TOTAL
-------------------------------------------------------------------------
               No. of    Principal                No. of        Principal
               Loans      Balance                 Loans          Balance
<S>          <C>         <C>         <C>          <C>       <C>
0-29 Days           0        0.00    0-29 Days          0           0.00
30 Days             0        0.00    30 Days           15   5,807,223.96
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                      15   5,807,223.96

               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     0.837521%      0.951129%
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%               0.837521%      0.951129%
</TABLE>

<TABLE>
<S>                                                <C>
Current Period Class A Insufficient Funds               0.00
Principal Balance of Contaminated Properties            0.00
Periodic Advance                                   12,697.76
</TABLE>

<PAGE>

     SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
                                   PERCENTAGE

<TABLE>
<CAPTION>
               Original $        Original%      Current $       Current %    Current Class %    Prepayment %
              -------------     -----------   -------------    -----------   ---------------    ------------
<S>           <C>               <C>           <C>              <C>              <C>               <C>
Class A       25,229,950.00     3.80002806%   25,229,950.00    4.13226386%      95.867736%        0.000000%
Class X-1     25,229,950.00     3.80002806%   25,229,950.00    4.13226386%       0.000000%        0.000000%
Class X-2     25,229,950.00     3.80002806%   25,229,950.00    4.13226386%       0.000000%        0.000000%
Class B-1     13,942,950.00     2.10002799%   13,942,950.00    2.28363308%       1.848631%       44.736514%
Class B-2      8,299,950.00     1.25010327%    8,299,950.00    1.35939958%       0.924233%       22.366275%
Class B-3      4,979,950.00     0.75005895%    4,979,950.00    0.81563647%       0.543763%       13.158964%
Class B-4      3,319,950.00     0.50003679%    3,319,950.00    0.54375492%       0.271882%        6.579482%
Class B-5      2,323,950.00     0.35002349%    2,323,950.00    0.38062599%       0.163129%        3.947689%
Class B-6              0.00     0.00000000%            0.00    0.00000000%       0.380626%        9.211077%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
               DELINQUENT                              BANKRUPTCY                         FORECLOSURE
----------------------------------------------------------------------------------------------------------------
POOL 1 - 1 MONTH

                 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               1    1,200,000.00    30 Days            0        0.00    30 Days            0        0.00
60 Days               0            0.00    60 Days            0        0.00    60 Days            0        0.00
90 Days               0            0.00    90 Days            0        0.00    90 Days            0        0.00
120 Days              0            0.00    120 Days           0        0.00    120 Days           0        0.00
150 Days              0            0.00    150 Days           0        0.00    150 Days           0        0.00
180+ Days             0            0.00    180+ Days          0        0.00    180+ Days          0        0.00
               ------------------------                --------------------                --------------------
                      1    1,200,000.00                       0        0.00                       0        0.00

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

0-29 Days      0.000000%      0.000000%    0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days        0.578035%      1.775573%    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%
               ------------------------                --------------------                --------------------
               0.578035%      1.775573%                0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
               REO                                   TOTAL
--------------------------------------------------------------------------
               No. of    Principal                No. of       Principal
               Loans      Balance                 Loans         Balance
<S>          <C>         <C>         <C>         <C>         <C>
0-29 Days           0        0.00    0-29 Days          0            0.00
30 Days             0        0.00    30 Days            1    1,200,000.00
60 Days             0        0.00    60 Days            0            0.00
90 Days             0        0.00    90 Days            0            0.00
120 Days            0        0.00    120 Days           0            0.00
150 Days            0        0.00    150 Days           0            0.00
180+ Days           0        0.00    180+ Days          0            0.00
             --------------------                ------------------------
                    0        0.00                       1    1,200,000.00

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

0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%       0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.578035%       1.775573%
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%               0.578035%       1.775573%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                        FORECLOSURE
-------------------------------------------------------------------------------------------------------------
POOL 1 - 6 MONTH
                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              10   3,481,137.40   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
               -----------------------               --------------------               ---------------------
                     10   3,481,137.40                      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        0.904159%      0.944394%  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%
               -----------------------               --------------------               ---------------------
               0.904159%      0.944394%              0.000000%   0.000000%              0.000000%   0.000000%

<CAPTION>
                  REO                                    TOTAL
-----------------------------------------------------------------------------
                No. of      Principal                 No. of       Principal
                 Loans       Balance                  Loans         Balance
<S>            <C>        <C>            <C>         <C>         <C>
0-29 Days             0           0.00   0-29 Days          0            0.00
30 Days               0           0.00   30 Days           10    3,481,137.40
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                     10    3,481,137.40

                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     0.904159%       0.944394%
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%              0.904159%       0.944394%
</TABLE>

<TABLE>
<CAPTION>
               DELINQUENT                             BANKRUPTCY                           FORECLOSURE
----------------------------------------------------------------------------------------------------------------
POOL 2
                 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   1,126,086.56   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   1,126,086.56                      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        0.781250%      0.645814%  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%
               -----------------------               -----------------------                --------------------
               0.781250%      0.645814%              0.000000%      0.000000%               0.000000%   0.000000%

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

0-29 Days           0        0.00    0-29 Days          0            0.00
30 Days             0        0.00    30 Days            4    1,126,086.56
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    1,126,086.56

               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     0.781250%       0.645814%
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%               0.781250%       0.645814%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                        Mixed Arm
<S>                                                        <C>
Weighted Average Gross Coupon                                    3.020422%
Weighted Average Net Coupon                                      2.668029%
Weighted Average Pass-Through Rate                               2.658029%
Weighted Average Maturity (Stepdown Calculation)                      322

Beginning Scheduled Collateral Loan Count                           1,814
Number of Loans Paid in Full                                           23
Ending Scheduled Collateral Loan Count                              1,791

Beginning Scheduled Collateral Balance                     620,400,343.91
Ending Scheduled Collateral Balance                        610,559,994.24
Ending Actual Collateral Balance at 30-Apr-2004            610,561,387.51

Monthly P&I Constant                                         1,562,946.00
Special Servicing Fee                                                0.00
Prepayment Penalties                                                 0.00
Realized Loss Amount                                                 0.00
Cumulative Realized Loss                                             0.00

Class A Optimal Amount                                      11,158,666.93

Ending Scheduled Balance for Premium Loans                 610,559,994.24

Scheduled Principal                                              1,387.09
Unscheduled Principal                                        9,838,962.58
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                   GROUP                POOL 1 - 1 MONTH      POOL 1 - 6 MONTH           POOL 2                 TOTAL
<S>                                     <C>                  <C>                   <C>                    <C>
Collateral Description                  1 Month LIBOR ARM    6 Month LIBOR ARM     6 Month LIBOR ARM           Mixed ARM
Weighted Average Coupon Rate                     2.852756             3.040178              3.043464            3.020422
Weighted Average Net Rate                        2.512251             2.686621              2.688930            2.668029
Pass-Through Rate                                2.502251             2.676621              2.678930            2.658029
Weighted Average Maturity                             307                  323                   328                 322
Record Date                                    04/30/2004           04/30/2004            04/30/2004          04/30/2004
Principal and Interest Constant                162,972.21           954,296.97            445,676.82        1,562,946.00
Beginning Loan Count                                  175                1,124                   515               1,814
Loans Paid in Full                                      2                   18                     3                  23
Ending Loan Count                                     173                1,106                   512               1,791
Beginning Scheduled Balance                 68,474,732.69       376,314,568.82        175,611,042.40      620,400,343.91
Ending Scheduled Balance                    67,583,666.79       368,610,464.50        174,365,862.95      610,559,994.24
Scheduled Principal                                187.47               910.97                288.65            1,387.09
Unscheduled Principal                          890,878.43         7,703,193.35          1,244,890.80        9,838,962.58
Scheduled Interest                             162,784.74           953,386.00            445,388.17        1,561,558.91
Servicing Fee                                   19,429.97           110,873.67             51,883.36          182,187.00
Master Servicing Fee                               570.63             3,135.96              1,463.42            5,170.01
Trustee Fee                                          0.00                 0.00                  0.00                0.00
FRY Amount                                           0.00                 0.00                  0.00                0.00
Special Hazard Fee                                   0.00                 0.00                  0.00                0.00
Other Fee                                            0.00                 0.00                  0.00                0.00
Pool Insurance Fee                                   0.00                 0.00                  0.00                0.00
Spread 1                                             0.00                 0.00                  0.00                0.00
Spread 2                                             0.00                 0.00                  0.00                0.00
Spread 3                                             0.00                 0.00                  0.00                0.00
Net Interest                                   142,784.14           839,376.37            392,041.39        1,374,201.90
Realized Loss Amount                                 0.00                 0.00                  0.00                0.00
Cumulative Realized Loss                             0.00                 0.00                  0.00                0.00
Percentage of Cumulative Losses                      0.00                 0.00                  0.00                0.00
Prepayment Penalties                                 0.00                 0.00                  0.00                0.00
Special Servicing Fee                                0.00                 0.00                  0.00                0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                     <C>
Group Pool 1 - 1 Month
1 Month LIBOR Loan Balance                               67,583,666.79
6 Month LIBOR Loan Balance                              368,610,464.50
Interest Transfer Amount                                          0.00
Principal Transfer Amount                                         0.00
Pro-Rata Pct                                                 95.930418%
Senior Pct                                                  100.000000%
Senior Prepay Pct                                           100.000000%
Subordinate Pct                                               0.000000%
Subordinate Prepay Pct                                        0.000000%

Group 1 - 6 Month

6 Month LIBOR Loan Balance                              174,365,862.95
Interest Transfer Amount                                          0.00
Principal Transfer Amount                                         0.00
Pro-Rata Pct                                                 95.940526%
Senior Pct                                                  100.000000%
Senior Prepay Pct                                           100.000000%
Subordinate Pct                                               0.000000%
Subordinate Prepay Pct                                        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"}]]