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

                                SHT SERIES 2004-1
                           RECORD DATE: JULY 30, 2004
                       DISTRIBUTION DATE: AUGUST 20, 2004

<TABLE>
<CAPTION>
                         CERTIFICATEHOLDER DISTRIBUTION SUMMARY
------------------------------------------------------------------------------------------
                     Certificate   Certificate                   Beginning
                        Class     Pass-Through    Certificate     Interest     Principal
   Class    CUSIP    Description      Rate          Balance     Distribution  Distribution
------------------------------------------------------------------------------------------
<S>       <C>        <C>          <C>           <C>             <C>           <C>
    NOTE  817419AA2      SEN         1.68000%   316,413,679.92    457,745.12  1,608,148.88
     L    SHT04002L      DRAW        1.95000%       237,043.03        398.03    237,043.03
     O    SHT04002O       OC         0.00000%       630,402.05          0.00          0.00
   AMBAC                 FEE         0.12000%             0.00     31,641.36          0.00
------------------------------------------------------------------------------------------
Totals                                          317,281,125.00    489,784.51  1,845,191.91
------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                       CERTIFICATEHOLDER DISTRIBUTION SUMMARY
--------------------------------------------------------------------------------
                                         Ending
                         Current       Certificate      Total       Cumulative
   Class    CUSIP     Realized Loss      Balance     Distribution  Realized Loss
--------------------------------------------------------------------------------
<S>       <C>         <C>            <C>             <C>           <C>
    NOTE  817419AA2        0.00      314,805,531.04  2,065,894.00       0.00
     L    SHT04002L        0.00                0.00    237,441.06       0.00
     O    SHT04002O        0.00        1,056,180.66          0.00       0.00
   AMBAC                   0.00                0.00     31,641.36       0.00
--------------------------------------------------------------------------------
Totals                     0.00      315,861,711.70  2,334,976.42       0.00
--------------------------------------------------------------------------------
</TABLE>

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

<TABLE>
<CAPTION>
                              PRINCIPAL DISTRIBUTION STATEMENT
----------------------------------------------------------------------------------------------
                             Beginning        Scheduled   Unscheduled
          Original Face     Certificate       Principal    Principal                Realized
   Class     Amount           Balance       Distribution  Distribution  Accretion   Loss (1)
----------------------------------------------------------------------------------------------
<S>       <C>             <C>               <C>           <C>           <C>         <C>
    NOTE  317,044,000.00   316,413,679.92        0.00     1,608,148.88     0.00       0.00
     L              0.00       237,043.03        0.00       237,043.03     0.00       0.00
     O             81.98       630,402.05        0.00             0.00     0.00       0.00
   AMBAC            0.00             0.00        0.00             0.00     0.00       0.00
----------------------------------------------------------------------------------------------
Totals    317,044,081.98   317,281,125.00        0.00     1,845,191.91     0.00       0.00
----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                      PRINCIPAL DISTRIBUTION STATEMENT
--------------------------------------------------------------------------
               Total         Ending              Ending          Total
             Principal     Certificate         Certificate     Principal
   Class     Reduction       Balance            Percentage    Distribution
--------------------------------------------------------------------------
<S>         <C>           <C>                <C>              <C>
    NOTE    1,608,148.88   314,805,531.04         0.99293956  1,608,148.88
     L        237,043.03             0.00         0.00000000    237,043.03
     O              0.00     1,056,180.66    12,883.39424250          0.00
   AMBAC            0.00             0.00         0.00000000          0.00
--------------------------------------------------------------------------
Totals      1,845,191.91   315,861,711.70         0.99627064  1,845,191.91
--------------------------------------------------------------------------
</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.

<TABLE>
<CAPTION>
                           PRINCIPAL DISTRIBUTION FACTORS STATEMENT
-----------------------------------------------------------------------------------------------
                               Beginning      Scheduled    Unscheduled
          Original Face       Certificate     Principal     Principal               Realized
   Class     Amount             Balance     Distribution  Distribution  Accretion    Loss (3)
-----------------------------------------------------------------------------------------------
<S>       <C>             <C>               <C>           <C>           <C>         <C>
    NOTE  317,044,000.00      998.01188453   0.00000000     5.07232081  0.00000000  0.00000000
     L              0.00        0.00000000   0.00000000     0.00000000  0.00000000  0.00000000
     O             81.98  7689705.41595511   0.00000000     0.00000000  0.00000000  0.00000000
   AMBAC            0.00        0.00000000   0.00000000     0.00000000  0.00000000  0.00000000
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                 PRINCIPAL DISTRIBUTION FACTORS STATEMENT
-------------------------------------------------------------------------
             Total            Ending            Ending          Total
           Principal        Certificate      Certificate      Principal
   Class   Reduction          Balance         Percentage     Distribution
-------------------------------------------------------------------------
<S>        <C>           <C>                <C>              <C>
    NOTE   5.07232081         992.93956372      0.99293956    5.07232081
     L     0.00000000           0.00000000      0.00000000    0.00000000
     O     0.00000000    12883394.24249820  12883.39424250    0.00000000
   AMBAC   0.00000000           0.00000000      0.00000000    0.00000000
-------------------------------------------------------------------------
</TABLE>

(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.
<PAGE>
<TABLE>
<CAPTION>
                                       INTEREST DISTRIBUTION STATEMENT
------------------------------------------------------------------------------------------------------------
                                                    Beginning                       Payment of
                                      Current      Certificate/       Current         Unpaid        Current
               Original Face        Certificate      Notional         Accrued        Interest      Interest
   Class          Amount                Rate         Balance         Interest        Shortfall     Shortfall
------------------------------------------------------------------------------------------------------------
<S>            <C>                  <C>          <C>                <C>             <C>            <C>
    NOTE       317,044,000.00         1.68000%   316,413,679.92     457,745.12          0.00          0.00
     L                   0.00         1.95000%       237,043.03           0.00          0.00          0.00
     O                  81.98         0.00000%       630,402.05           0.00          0.00          0.00
   AMBAC                 0.00         0.12000%   316,413,679.92      31,641.37          0.00          0.00
------------------------------------------------------------------------------------------------------------
   Totals      317,044,081.98                                       489,386.49          0.00          0.00
------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                             INTEREST DISTRIBUTION STATEMENT
----------------------------------------------------------------------------------------
                                                             Remaining        Ending
                Non-Supported                                 Unpaid       Certificate/
                  Interest     Realized    Total Interest     Interest      Notational
   Class          Shortfall    Loss (4)     Distribution     Shortfall        Balance
----------------------------------------------------------------------------------------
<S>             <C>            <C>         <C>               <C>          <C>
    NOTE             0.00         0.00       457,745.12          0.00     314,805,531.04
     L               0.00         0.00           398.03          0.00               0.00
     O               0.00         0.00             0.00          0.00       1,056,180.66
   AMBAC             0.00         0.00        31,641.36          0.00     314,805,531.04
----------------------------------------------------------------------------------------
   Totals            0.00         0.00       489,784.51          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.

<TABLE>
<CAPTION>
                                INTEREST DISTRIBUTION FACTORS STATEMENT
----------------------------------------------------------------------------------------------------------
                                                                                  Payment of
                                    Current         Beginning         Current       Unpaid       Current
  Class (5)     Original Face     Certificate      Certificate/       Accrued      Interest     Interest
                   Amount            Rate       Notional Balance     Interest     Shortfall     Shortfall
----------------------------------------------------------------------------------------------------------
<S>             <C>               <C>           <C>                 <C>           <C>           <C>
    NOTE        317,044,000.00      1.68000%        998.01188453    1.44379051    0.00000000    0.00000000
      L                   0.00      1.95000%          0.00000000    0.00000000    0.00000000    0.00000000
      O                  81.98      0.00000%    7689705.41595511    0.00000000    0.00000000    0.00000000
    AMBAC                 0.00      0.12000%        998.01188453    0.09980119    0.00000000    0.00000000
----------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                         INTEREST DISTRIBUTION FACTORS STATEMENT
------------------------------------------------------------------------------------------
                                                           Remaining          Ending
                Non-Supported                  Total         Unpaid         Certificate/
  Class (5)     Interest       Realized       Interest      Interest         Notational
                Shortfall      Loss (6)     Distribution    Shortfall          Balance
------------------------------------------------------------------------------------------
<S>             <C>           <C>           <C>            <C>           <C>
    NOTE        0.00000000    0.00000000      1.44379051   0.00000000         992.93956372
      L         0.00000000    0.00000000      0.00000000   0.00000000           0.00000000
      O         0.00000000    0.00000000      0.00000000   0.00000000    12883394.24249820
    AMBAC       0.00000000    0.00000000      0.09980116   0.00000000         992.93956372
------------------------------------------------------------------------------------------
</TABLE>

(5)   Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                              2,698,160.64
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                       0.00
         Realized Losses (Gains, Subsequent Expenses & Recoveries)               0.00
         Prepayment Penalties                                                    0.00
Total Deposits                                                           2,698,160.64
                                                                      ---------------
Withdrawals
         Reimbursement for Servicer Advances                               237,043.02
         Payment of Service Fee                                            126,141.20
         Payment of Interest and Principal                               2,334,976.42
                                                                      ---------------
Total Withdrawals (Pool Distribution Amount)                             2,698,160.64

Ending Balance                                                                   0.00
                                                                      ===============

</TABLE>
<PAGE>
                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

                                 SERVICING FEES

<TABLE>
<S>                                                                   <C>
Gross Servicing Fee                                                   122,175.19
Master Servicing Fee                                                    3,966.01
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------
Net Servicing Fee                                                     126,141.20
                                                                      ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                    Beginning          Current          Current       Ending
                Account Type         Balance         Withdrawals       Deposits       Balance
---------------------------------------------------------------------------------------------
<S>                                 <C>              <C>               <C>            <C>
Financial Guaranty                    0.00              0.00             0.00          0.00

---------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                     DELINQUENT                            BANKRUPTCY                        FORECLOSURE
---------------------------------------------------------------------------------------------------------------
                No. of      Principal                 No. of    Principal                 No. of   Principal
                 Loans       Balance                  Loans      Balance                  Loans     Balance
<S>            <C>          <C>          <C>        <C>         <C>         <C>         <C>        <C>
0-29 Days          0             0.00    0-29 Days      0           0.00    0-29 Days       0          0.00
30 Days            3        76,304.65    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
               ---------------------                --------------------                --------------------
                   3        76,304.65                   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        0.056487%    0.024158%    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%
               ---------------------                --------------------                --------------------
               0.056487%    0.024158%               0.000000%   0.000000%               0.000000%   0.000000%

---------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------
       REO                                  TOTAL
-----------------------------------------------------------
No. of     Principal                 No. of      Principal
 Loans      Balance                  Loans        Balance
<S>        <C>          <C>         <C>         <C>
    0           0.00    0-29 Days       0            0.00
    0           0.00    30 Days         3       76,304.65
    0           0.00    60 Days         0            0.00
    0           0.00    90 Days         0            0.00
    0           0.00    120 Days        0            0.00
    0           0.00    150 Days        0            0.00
    0           0.00    180+ Days       0            0.00
--------------------                -----------------------
    0           0.00                    3       76,304.65

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

0.000000%   0.000000%   0-29 Days   0.000000%     0.000000%
0.000000%   0.000000%   30 Days     0.056487%     0.024158%
0.000000%   0.000000%   60 Days     0.000000%     0.000000%
0.000000%   0.000000%   90 Days     0.000000%     0.000000%
0.000000%   0.000000%   120 Days    0.000000%     0.000000%
0.000000%   0.000000%   150 Days    0.000000%     0.000000%
0.000000%   0.000000%   180+ Days   0.000000%     0.000000%
--------------------                -----------------------
0.000000%   0.000000%               0.056487%     0.024158%

-----------------------------------------------------------
</TABLE>

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

<TABLE>
<S>          <C>       <C>            <C>             <C>            <C>         <C>
------------------------------------------------------------------------------------------
Class L      81.98     0.00002586%    1,056,180.66    0.33463185%    0.000000%   0.000000%
Class O       0.00     0.00000000%            0.00    0.00000000%    0.334632%   0.000000%

Please refer to the prospectus supplement for a full description of loss exposure
------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                          3.939866%
Weighted Average Net Coupon                                            3.477783%
Weighted Average Pass-Through Rate                                     3.462783%
Weighted Average Maturity (Stepdown Calculation)                            124

Beginning Scheduled Collateral Loan Count                                 5,414
Number of Loans Paid in Full                                                103
Ending Scheduled Collateral Loan Count                                    5,311

Beginning Scheduled Collateral Balance                           317,044,081.98
Ending Scheduled Collateral Balance                              315,624,668.69
Ending Actual Collateral Balance at 30-July-2004                 315,861,711.71

Monthly P&I Constant                                                       0.00
Special Servicing Fee                                                      0.00
Prepayment Penalties                                                       0.00
Realized Loss Amount                                                       0.00
Cumulative Realized Loss                                                   0.00
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                <C>
Additional Balance Contributed Amount                 237,043.03
Additional Balance                                 14,061,478.94
Cumulative Loss Percent                                 0.00000%
Managed Amortization Period                                  YES
Overcollateralization Amount                        1,056,180.66
Six Month Rolling Delinquency                           0.00000%
Specified Overcollateralization Amount              3,963,051.02
3 Largest Loan Balance                              5,022,718.14
Draw Amount                                        14,061,478.94
Rapid Amortization Event                                      NO
Excess Cashflow                                       425,778.60
</TABLE><PAGE>

                                                                    EXHIBIT 10.1

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

                                SMT SERIES 2004-6
                           RECORD DATE: JULY 30, 2004
                       DISTRIBUTION DATE: AUGUST 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate                           Beginning
                                 Class        Certificate 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           81744FCG0             SEN             2.79988%    494,024,633.47    1,152,674.33    6,286,856.49           0.00
  A-2           81744FCH8             SEN             1.70000%    184,237,527.53      261,003.16    2,397,222.33           0.00
 A-3-A          81744FCJ4             SEN             2.16375%    193,391,040.71      348,708.22    1,420,369.89           0.00
 A-3-B          81744FCU9             SEN             2.30625%      3,444,624.13        6,620.14       25,299.21           0.00
  X-A           81744FCK1              IO             0.74678%              0.00      237,147.28            0.00           0.00
  X-B           81744FCL9              IO             0.69041%              0.00       14,369.07            0.00           0.00
  B-1           81744FCN5             SUB             1.92000%     15,725,000.00       25,160.00            0.00           0.00
  B-2           81744FCP0             SUB             2.30000%      9,250,000.00       17,729.17            0.00           0.00
  B-3           81744FCQ8             SUB             2.75115%      5,550,000.00       12,724.05            0.00           0.00
  B-4           81744FCR6             SUB             2.75115%      2,313,000.00        5,302.83            0.00           0.00
  B-5           81744FCS4             SUB             2.75115%      2,313,000.00        5,302.83            0.00           0.00
  B-6           81744FCT2             SUB             2.75115%      4,166,584.59        9,552.40            0.00           0.00
  A-R           81744FCM7               R             2.80084%              0.00            0.13            0.00           0.00
--------        ---------     -----------     ---------------     --------------    ------------   -------------   ------------
Totals                                                            914,415,410.43    2,096,293.61   10,129,747.92           0.00

<CAPTION>
                                  Ending
                               Certificate           Total          Cumulative
 Class            CUSIP          Balance          Distribution     Realized Loss
--------        ---------     --------------     -------------     -------------
<S>             <C>           <C>                <C>               <C>
  A-1           81744FCG0     487,737,776.98      7,439,530.82             0.00
  A-2           81744FCH8     181,840,305.20      2,658,225.49             0.00
 A-3-A          81744FCJ4     191,970,670.81      1,769,078.11             0.00
 A-3-B          81744FCU9       3,419,324.93         31,919.35             0.00
  X-A           81744FCK1               0.00        237,147.28             0.00
  X-B           81744FCL9               0.00         14,369.07             0.00
  B-1           81744FCN5      15,725,000.00         25,160.00             0.00
  B-2           81744FCP0       9,250,000.00         17,729.17             0.00
  B-3           81744FCQ8       5,550,000.00         12,724.05             0.00
  B-4           81744FCR6       2,313,000.00          5,302.83             0.00
  B-5           81744FCS4       2,313,000.00          5,302.83             0.00
  B-6           81744FCT2       4,166.584.59          9,552.40             0.00
  A-R           81744FCM7               0.00              0.13             0.00
--------        ---------     --------------     -------------     ------------
Totals                        904,285,662.51     12,226,041.53             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                                  Total
                Original Face      Certificate      Principal        Principal                   Realized      Principal
Class              Amount            Balance       Distribution     Distribution    Accretion    Loss (1)      Reduction
------         --------------     --------------   ------------     ------------    ---------    --------    -------------
<S>            <C>                <C>              <C>              <C>             <C>          <C>         <C>
 A-1           500,000,000.00     494,024,633.47       523.10       6,286,333.39       0.00        0.00       6,286,856.49
 A-2           185,687,000.00     184,237,527.53       339.65       2,396,882.68       0.00        0.00       2,397,222.33
 A-3           196,500,000.00     193,391,040.71       146.00       1,420,223.89       0.00        0.00       1,420,369.89
 X-1             3,500,000.00       3,444,624.13         2.60          25,296.61       0.00        0.00          25,299.21
 X-2                     0.00               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               0.00
 B-1            15,725,000.00      15,725,000.00         0.00               0.00       0.00        0.00               0.00
 B-2             9,250,000.00       9,250,000.00         0.00               0.00       0.00        0.00               0.00
 B-3             5,550,000.00       5,550,000.00         0.00               0.00       0.00        0.00               0.00
 B-4             2,313,000.00       2,313,000.00         0.00               0.00       0.00        0.00               0.00
 B-5             2,313,000.00       2,313,000.00         0.00               0.00       0.00        0.00               0.00
 B-6             4,166,584.59       4,166,584.59         0.00               0.00       0.00        0.00               0.00
 A-R                   100.00               0.00         0.00               0.00       0.00        0.00               0.00
------         --------------     --------------   ----------      -------------    -------      ------      -------------
Totals         925,004,684.59     914,415,410.43     1,011.35      10,128,736.57       0.00        0.00      10,129,747.92

<CAPTION>
                   Ending               Ending         Total Principal
                Certificate           Certificate       Distribution
Class              Balance            Percentage
------         --------------         -----------      ---------------
<S>            <C>                    <C>              <C>
 A-1           487,737,776.98          0.97547555       6,286,856.49
 A-2           181,840,305.20          0.97928398       2,397,222.33
 A-3           191,970,670.81          0.97694998       1,420,369.89
 X-1             3,419,324.93          0.97694998          25,299.21
 X-2                     0.00          0.00000000               0.00
X-B                      0.00          0.00000000               0.00
 B-1            15,725,000.00          1.00000000               0.00
 B-2             9,250,000.00          1.00000000               0.00
 B-3             5,550,000.00          1.00000000               0.00
 B-4             2,313,000.00          1.00000000               0.00
 B-5             2,313,000.00          1.00000000               0.00
 B-6             4,166,584.59          1.00000000               0.00
A-R                      0.00          0.00000000               0.00
------         --------------         -----------      -------------
Totals         904,285,662.51          0.97760117      10,129,747.92
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                    Beginning      Scheduled      Unscheduled                                     Total
               Original Face       Certificate     Principal       Principal                     Realized       Principal
Class              Amount            Balance      Distribution   Distribution     Accretion      Loss (3)       Reduction
------         --------------     -------------   ------------   ------------    ----------     ----------     -----------
<S>            <C>                <C>             <C>            <C>             <C>            <C>            <C>
A-1            500,000,000.00      988.04926694    0.00104620     12.57266678    0.00000000     0.00000000     12.57371298
A-2            185,687,000.00      992.19400136    0.00182915     12.90818786    0.00000000     0.00000000     12.91001702
A-3            196,500,000.00      984.17832422    0.00074300      7.22760249    0.00000000     0.00000000      7.22834550
X-1              3,500,000.00      984.17832286    0.00074286      7.22760286    0.00000000     0.00000000      7.22834571
X-2                      0.00        0.00000000    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-1             15,725,000.00     1000.00000000    0.00000000      0.00000000    0.00000000     0.00000000      0.00000000
B-2              9,250,000.00     1000.00000000    0.00000000      0.00000000    0.00000000     0.00000000      0.00000000
B-3              5,550,000.00     1000.00000000    0.00000000      0.00000000    0.00000000     0.00000000      0.00000000
B-4              2,313,000.00     1000.00000000    0.00000000      0.00000000    0.00000000     0.00000000      0.00000000
B-5              2,313,000.00     1000.00000000    0.00000000      0.00000000    0.00000000     0.00000000      0.00000000
B-6              4,166,584.59     1000.00000000    0.00000000      0.00000000    0.00000000     0.00000000      0.00000000
A-R                    100.00        0.00000000    0.00000000      0.00000000    0.00000000     0.00000000      0.00000000

<CAPTION>
                   Ending            Ending
                Certificate        Certificate    Total Principal
Class             Balance          Percentage       Distribution
------         --------------     -------------   ---------------
<S>            <C>                <C>             <C>
 A-1             975.47555396        0.97547555      12.57371298
 A-2             979.28398434        0.97928398      12.91001702
 A-3             976.94997868        0.97694998       7.22834550
 X-1             976.94998000        0.97694998       7.22834571
 X-2               0.00000000        0.00000000       0.00000000
 X-B               0.00000000        0.00000000       0.00000000
 B-1            1000.00000000        1.00000000       0.00000000
 B-2            1000.00000000        1.00000000       0.00000000
 B-3            1000.00000000        1.00000000       0.00000000
 B-4            1000.00000000        1.00000000       0.00000000
 B-5            1000.00000000        1.00000000       0.00000000
 B-6            1000.00000000        1.00000000       0.00000000
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
                               Current        Certificate/        Current         Unpaid         Current
           Original Face     Certificate       Notional           Accrued         Interest       Interest
 Class        Amount            Rate            Balance           Interest       Shortfall      Shortfall
------    --------------     -----------     --------------     ------------     ----------     ---------
<S>       <C>                <C>             <C>                <C>              <C>            <C>
A-1       500,000,000.00       2.79988%      494,024,633.47     1,152,674.33           0.00          0.00
A-2       185,687,000.00       1.70000%      184,237,527.53       261,003.16           0.00          0.00
A-3       196,500,000.00       2.16375%      193,391,040.71       348,708.22           0.00          0.00
X-1         3,500,000.00       2.30625%        3,444,624.13         6,620.14           0.00          0.00
X-2                 0.00       0.74678%      381,073,192.37       237,147.28           0.00          0.00
X-B                 0.00       0.69041%       24,975,000.00        14,369.07           0.00          0.00
B-1        15,725,000.00       1.92000%       15,725,000.00        25,160.00           0.00          0.00
B-2         9,250,000.00       2.30000%        9,250,000.00        17,729.17           0.00          0.00
B-3         5,550,000.00       2.75115%        5,550,000.00        12,724.05           0.00          0.00
B-4         2,313,000.00       2.75115%        2,313,000.00         5,302.83           0.00          0.00
B-5         2,313,000.00       2.75115%        2,313,000.00         5,302.83           0.00          0.00
B-6         4,166,584.59       2.75115%        4,166,584.59         9,552.40           0.00          0.00
A-R               100.00       2.80084%                0.00             0.00           0.00          0.00
------    --------------     ---------       --------------     ------------     ----------     ---------
Totals    925,004,684.59                                        2,096,293.48           0.00          0.00
------    --------------     ---------       --------------     ------------     ----------     ---------

<CAPTION>

                Non-                                        Remaining         Ending
              Supported                                      Unpaid        Certificate/
              Interest      Realized     Total Interest     Interest        Notational
 Class        Shortfall     Loss (4)      Distribution      Shortfall         Balance
------        ---------     --------     --------------     ---------     --------------
<S>           <C>           <C>          <C>                <C>           <C>
A-1                0.00         0.00       1,152,674.33          0.00     487,737,776.98
A-2                0.00         0.00         261,003.16          0.00     181,840,305.20
A-3                0.00         0.00         348,708.22          0.00     191,970,670.81
X-1                0.00         0.00           6,620.14          0.00       3,419,324.93
X-2                0.00         0.00         237,147.28          0.00     377,230,300.94
X-B                0.00         0.00          14,369.07          0.00      24,975,000.00
B-1                0.00         0.00          25,160.00          0.00      15,725,000.00
B-2                0.00         0.00          17,729.17          0.00       9,250,000.00
B-3                0.00         0.00          12,724.05          0.00       5,550,000.00
B-4                0.00         0.00           5,302.83          0.00       2,313,000.00
B-5                0.00         0.00           5,302.83          0.00       2,313,000.00
B-6                0.00         0.00           9,552.40          0.00       4,166,584.59
A-R                0.00         0.00               0.13          0.00               0.00
------        ---------     --------     --------------     ---------     --------------
Totals             0.00         0.00       2,096,293.61          0.00
------        ---------     --------     --------------     ---------     --------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                       Payment of
                               Current           Beginning                              Unpaid          Current
 Class     Original Face     Certificate        Certificate/       Current Accrued     Interest        Interest
  (5)         Amount            Rate          Notional Balance         Interest        Shortfall       Shortfall
------     --------------    -----------      ----------------     ---------------     ----------     ----------
<S>        <C>               <C>              <C>                  <C>                 <C>            <C>
  A-1      500,000,000.00        2.79988%         988.04926694          2.30534866     0.00000000     0.00000000
  A-2      185,687,000.00        1.70000%         992.19400136          1.40560815     0.00000000     0.00000000
  A-3      196,500,000.00        2.16375%         984.17832422          1.77459654     0.00000000     0.00000000
  X-1        3,500,000.00        2.30625%         984.17832286          1.89146857     0.00000000     0.00000000
  X-2                0.00        0.74678%         988.03743027          0.61486978     0.00000000     0.00000000
  X-B                0.00        0.69041%        1000.00000000          0.57533814     0.00000000     0.00000000
  B-1       15,725,000.00        1.92000%        1000.00000000          1.60000000     0.00000000     0.00000000
  B-2        9,250,000.00        2.30000%        1000.00000000          1.91666703     0.00000000     0.00000000
  B-3        5,550,000.00        2.75115%        1000.00000000          2.29262162     0.00000000     0.00000000
  B-4        2,313,000.00        2.75115%        1000.00000000          2.29261997     0.00000000     0.00000000
  B-5        2,313,000.00        2.75115%        1000.00000000          2.29261997     0.00000000     0.00000000
  B-6        4,166,584.59        2.75115%        1000.00000000          2.29262116     0.00000000     0.00000000
  A-R              100.00        2.80084%           0.00000000          0.00000000     0.00000000     0.00000000

<CAPTION>

                Non-                                            Remaining
              Supported                                          Unpaid
 Class         Interest       Realized      Total Interest      Interest       Ending Certificate/
  (5)         Shortfall       Loss (6)       Distribution       Shortfall      Notational Balance
------        ----------     ----------     --------------     ----------      -------------------
<S>           <C>            <C>            <C>                <C>             <C>
  A-1         0.00000000     0.00000000         2.30534866     0.00000000             975.47555396
  A-2         0.00000000     0.00000000         1.40560815     0.00000000             979.28398434
  A-3         0.00000000     0.00000000         1.77459654     0.00000000             976.94997868
  X-1         0.00000000     0.00000000         1.89146857     0.00000000             976.94998000
  X-2         0.00000000     0.00000000         0.61486978     0.00000000             978.07367357
  X-B         0.00000000     0.00000000         0.57533814     0.00000000            1000.00000000
  B-1         0.00000000     0.00000000         1.60000000     0.00000000            1000.00000000
  B-2         0.00000000     0.00000000         1.91666703     0.00000000            1000.00000000
  B-3         0.00000000     0.00000000         2.29262162     0.00000000            1000.00000000
  B-4         0.00000000     0.00000000         2.29261997     0.00000000            1000.00000000
  B-5         0.00000000     0.00000000         2.29261997     0.00000000            1000.00000000
  B-6         0.00000000     0.00000000         2.29262116     0.00000000            1000.00000000
  A-R         0.00000000     0.00000000         1.30000000     0.00000000               0.00000000
</TABLE>

(5)   Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                            12,490,320.85
         Liquidations, Insurance Proceeds, Reserve Funds                        0.00
         Proceeds from Repurchased Loans                                        0.00
         Other Amounts (Servicer Advances)                                 31,171.90
         Realized Losses (Gains, Subsequent Expenses & Recoveries)              0.00
         Prepayment Penalties                                                   0.00
                                                                       -------------
Total Deposits                                                         12,521,492.75

Withdrawals
         Reimbursement for Servicer Advances                                4,385.96
         Payment of Service Fee                                           291,065.25
         Payment of Interest and Principal                             12,226,041.54
                                                                       -------------
Total Withdrawals (Pool Distribution Amount)                           12,521,492.75

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

<PAGE>

                   PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

                                 SERVICING FEES

<TABLE>
<S>                                                             <C>
Gross Servicing Fee                                                    286,112.16
Master Servicing Fee                                                     4,953.09
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                -----------------
Net Servicing Fee                                                      291,065.25
                                                                =================
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                          Beginning            Current          Current       Ending
                Account Type               Balance            Withdrawals      Deposits      Balance
---------------------------------       --------------        -----------      --------      --------
<S>                                     <C>                   <C>              <C>           <C>
Class X-A Pool 2 Comp Sub Account             4,500.00               0.00          0.00      4,500.00
Class X-A Pool 3 Comp Sub Account             4,500.00               0.00          0.00      4,500.00
Class X-B Sub Account                         1,000.00               0.00          0.00      1,000.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
              DELINQUENT                                    BANKRUPTCY                                   FORECLOSURE
--------------------------------------      ------------------------------------------     ---------------------------------------
<S>          <C>         <C>                <C>             <C>            <C>             <C>             <C>          <C>
             No. of        Principal                         No. of        Principal                       No. of       Principal
              Loans         Balance                          Loans          Balance                        Loans         Balance
0-29 Days       0                 0.00      0-29 Days           0                0.00      0-29 Days          0               0.00
30 Days        38        13,465,052.68      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

             ----        -------------                      -----          ----------                      ----         ----------
               38        13,465,052.68                          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      1.371841%        1.489026%     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%
             --------    -------------                      --------       ----------                      --------     ----------
             1.371841%        1.489026%                        00000%        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            38          13,465,052.68
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                         38          13,465,052.68

               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         1.371841%           1.489026%
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%                     1.371841%           1.489026%
</TABLE>

<TABLE>
<S>                      <C>   <C>                            <C>         <C>        <C>              <C>
Current Period Class     0.00  Principal Balance of           0.00        Periodic   Advance          31,171.90
 A Insufficient Funds:          Contaminated Properties
</TABLE>

<TABLE>
<CAPTION>
                Original $        Original%         Current $         Current %       Current Class %      Prepayment %
---------      -------------     ----------       -------------      ----------       ---------------      ------------
<S>            <C>               <C>              <C>                <C>              <C>                  <C>
Class A        39,317,584.59     4.25052816%      39,317,584.59      4.34791640%            95.652084%        0.000000%
Class B-1      23,592,584.59     2.55053677%      23,592,584.59      2.60897475%             1.738942%       39.994827%
Class B-2      14,342,584.59     1.55054183%      14,342,584.59      1.58606790%             1.022907%       23.526369%
Class B-3       8,792,584.59     0.95054487%       8,792,584.59      0.97232379%             0.613744%       14.115821%
Class B-4       6,479,584.59     0.70049208%       6,479,584.59      0.71654178%             0.255782%        5.882864%
Class B-5       4,166,584.59     0.45043930%       4,166,584.59      0.46075978%             0.255782%        5.882864%
Class B-6               0.00     0.00000000%               0.00      0.00000000%             0.460760%       10.597255%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

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

0-29 Days          0               0.00  0-29 Days      0           0.00    0-29 Days       0           0.00
30 Days           21       7,546,102.69  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
               -----       ------------              ----       --------                -----       --------
                  21       7,546,102.69                 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        1.330798%       1.479824% 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%
               --------        --------             --------    --------                --------    --------
               1.330798%       1.479824%            0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                REO                                  TOTAL
----------------------------------   -----------------------------------
<C>          <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        21      7,546,102.69
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                   21      7,546,102.69

              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     1.330798%     1.479824%
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%               1.330798%     1.479824%
</TABLE>

<TABLE>
<CAPTION>
              DELINQUENT                            BANKRUPTCY                         FORECLOSURE
-------------------------------------    -------------------------------    ---------------------------------
<S>             <C>     <C>              <C>        <C>         <C>         <C>         <C>         <C>
GROUP TWO                                            1.183654%
                No. of      Principal                 No. of    Principal                 No. of    Principal
                 Loans       Balance                  Loans      Balance                  Loans      Balance

0-29 Days          0            0.00     0-29 Days      0           0.00    0-29 Days       0           0.00
30 Days            8    3,099,250.00     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
               -----    ------------                 ----       --------                  ---       --------
                   8    3,099,250.00                    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        1.489758%    1.630453%    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%
               --------     --------                --------    --------                --------    --------
               1.489758%    1.630453%               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         8      3,099,250.00
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                    8      3,099,250.00

              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     1.489758%     1.630453%
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%               1.489758%     1.630453%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
-------------------------------------    -------------------------------    --------------------------------
<S>            <C>       <C>             <C>        <C>         <C>         <C>         <C>         <C>
GROUP THREE                                          1.183654%
                No. of      Principal                 No. of    Principal                 No. of    Principal
                 Loans       Balance                  Loans      Balance                  Loans      Balance

0-29 Days          0             0.00    0-29 Days      0           0.00    0-29 Days       0           0.00
30 Days            9     2,819,699.99    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
                ----     ------------                ----       --------                  ---       --------
                   9     2,819,699.99                   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        1.374046%    1.380392%    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%
               --------     --------                --------    --------                --------    --------
               1.374046%    1.380392%               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         9      2,819,699.99
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                    9      2,819,699.99

              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     1.374046%     1.380392%
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%               1.374046%     1.380392%
</TABLE>

<PAGE>
                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                                                             3.133542%
Weighted Average Net Coupon                                                                               2.758073%
Weighted Average Pass-Through Rate                                                                        2.751032%
Weighted Average Maturity (Stepdown Calculation)                                                               343

Beginning Scheduled Collateral Loan Count                                                                    2,791
Number of Loans Paid in Full                                                                                    21
Ending Scheduled Collateral Loan Count                                                                       2,770

Beginning Scheduled Collateral Balance                                                              914,415,410.43
Ending Scheduled Collateral Balance                                                                 904,285,662.51
Ending Actual Collateral Balance at 30-July-2004                                                    904,285,924.07

Monthly P&I Constant                                                                                  2,388,490.85
Special Servicing Fee                                                                                         0.00
Prepayment Penalties                                                                                          0.00
Realization Loss Amount                                                                                       0.00
Cumulative Realized Loss                                                                                      0.00

Class A Optimal Amount                                                                               12,135,901.05

Scheduled Principal                                                                                         691.72
Unscheduled Principal                                                                                10,129,056.20
</TABLE>

                            MISCELLANEOUS REPORTING

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

<PAGE>

<TABLE>
<CAPTION>
            GROUP                       GROUP ONE                GROUP TWO                GROUP THREE                 TOTAL
<S>                                  <C>                       <C>                     <C>                        <C>
Collateral Description               6 Month LIBOR ARM              Mixed ARM          6 Month LIBOR ARM               Mixed ARM
Weighted Average Coupon Rate                  3.182249               2.970655                   3.163726                3.133542
Weighted Average Net Rate                     2.806956               2.595153                   2.787846                2.758073
Pass-Through Rate                             2.799944               2.587696                   2.781123                2.751032
Weighted Average Maturity                          344                    339                        344                     343
Record Date                                 07/30/2004             07/30/2004                 07/30/2004              07/30/2004
Principal and Interest Constant           1,369,303.75             476,780.20                 542,406.90            2,388,490.85
Beginning Loan Count                             1,594                    539                        658                   2,791
Loans Paid in Full                                  16                      2                          3                      21
Ending Loan Count                                1,578                    537                        655                   2,770
Beginning Scheduled Balance             516,218,789.29         192,482,840.17             205,713,780.97          914,415,410.43
Ending Scheduled Balance                509,931,932.80         190,085,617.84             204,268,111.87          904,285,662.51
Scheduled Principal                             356.33                 280.13                      55.26                  691.72
Unscheduled Principal                     6,286,500.16           2,396,942.20               1,445,613.84           10,129,056.20
Scheduled Interest                        1,368,947.42             476,500.07                 542,351.64            2,387,799.13
Servicing Fee                               161,444.42              60,231.36                  64,436.38              286,112.16
Master Servicing Fee                          2,796.19               1,042.62                   1,114.28                4,953.09
Trustee Fee                                       0.00                   0.00                       0.00                    0.00
FRY Amount                                        0.00                   0.00                       0.00                    0.00
Special Hazard Fee                                0.00                   0.00                       0.00                    0.00
Other Fee                                       220.62                 153.55                      38.29                  412.46
Pool Insurance Fee                                0.00                   0.00                       0.00                    0.00
Spread 1                                          0.00                   0.00                       0.00                    0.00
Spread 2                                          0.00                   0.00                       0.00                    0.00
Spread 3                                          0.00                   0.00                       0.00                    0.00
Net Interest                              1,204,486.19             415,072.54                 476,762.69            2,096,321.42
Realized Loss Amount                              0.00                   0.00                       0.00                    0.00
Cumulative Realized Loss                          0.00                   0.00                       0.00                    0.00
Percentage of Cumulative Losses                   0.00                   0.00                       0.00                    0.00
Prepayment Penalties                              0.00                   0.00                       0.00                    0.00
Special Servicing Fee                             0.00                   0.00                       0.00                    0.00
</TABLE>

<PAGE>

                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                 <C>
Group One

Pro-Rata Senior Percent                                              95.700630%
Senior Percent                                                      100.000000%
Senior Prepay Percent                                               100.000000%
Subordinate Percent                                                   0.000000%
Subordinate Prepay Percent                                            0.000000%
Interest Transfer Amount                                                  0.00
Principal Transfer Amount                                                 0.00

Group Two

Pro-Rata Senior Percent                                              95.716339%
Senior Percent                                                      100.000000%
Senior Prepay Percent                                               100.000000%
Subordinate Percent                                                   0.000000%
Subordinate Prepay Percent                                            0.000000%
Interest Transfer Amount                                                  0.00
Principal Transfer Amount                                                 0.00

Group Three

Pro-Rata Senior Percent                                              95.684239%
Senior Percent                                                      100.000000%
Senior Prepay Percent                                               100.000000%
Subordinate Percent                                                   0.000000%
Subordinate Prepay Percent                                            0.000000%
Interest Transfer Amount                                                  0.00
Principal Transfer Amount                                                 0.00
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]