Document:

<PAGE>

                                  EXHIBIT 10.1

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

                               SMT SERIES 2002-12
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                     Certificate  Certificate     Beginning                                                     Ending
                        Class     Pass-Through   Certificate      Interest       Principal      Current       Certificate
   Class    CUSIP    Description      Rate         Balance      Distribution   Distribution   Realized Loss     Balance
   -----    -----    -----------  ------------   ------------   -------------  -------------  -------------  --------------
<S>       <C>        <C>          <C>           <C>             <C>            <C>            <C>            <C>
     A    81744BAA4      SEN        1.59875%    949,908,049.96   1,265,554.58  11,594,267.46       0.00      938,313,782.50
    X-1   81744BAB2       IO        0.76323%              0.00     147,029.78           0.00       0.00                0.00
    X-2   81744BAC0       IO        0.99711%              0.00     611,217.80           0.00       0.00                0.00
    A-R   81744BAD8      SEN        3.16453%              0.00           0.00           0.00       0.00                0.00
    B-1   81744BAE6      SUB        1.99875%     16,815,000.00      28,007.48           0.00       0.00       16,815,000.00
    B-2   81744BAF3      SUB        2.54689%      8,968,000.00      19,033.77           0.00       0.00        8,968,000.00
    B-3   81744BAG1      SUB        2.54689%      6,165,000.00      13,084.65           0.00       0.00        6,165,000.00
    B-4   SMT0212B4      SUB        2.54689%      2,802,000.00       5,946.99           0.00       0.00        2,802,000.00
    B-5   SMT0212B5      SUB        2.54689%      1,681,000.00       3,567.77           0.00       0.00        1,681,000.00
    B-6   SMT0212B6      SUB        2.54689%      4,486,095.46       9,521.33           0.00       0.00        4,486,095.46
                                                --------------  -------------  -------------       ----      --------------
Totals                                          990,825,145.42   2,102,964.15  11,594,267.46       0.00      979,230,877.96
                                                --------------  -------------  -------------       ----      --------------

<CAPTION>

                        Total        Cumulative
   Class    CUSIP    Distribution   Realized Loss
   -----    -----    -------------  -------------
<S>       <C>        <C>            <C>
     A    81744BAA4  12,859,822.04       0.00
    X-1   81744BAB2     147,029.78       0.00
    X-2   81744BAC0     611,217.80       0.00
    A-R   81744BAD8           0.00       0.00
    B-1   81744BAE6      28,007.48       0.00
    B-2   81744BAF3      19,033.77       0.00
    B-3   81744BAG1      13,084.65       0.00
    B-4   SMT0212B4       5,946.99       0.00
    B-5   SMT0212B5       3,567.77       0.00
    B-6   SMT0212B6       9,521.33       0.00
                     -------------       ----
Totals               13,697,231.61       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                                             Ending
           Original Face     Certificate     Principal      Principal               Realized  Total Principal   Certificate
   Class       Amount          Balance      Distribution  Distribution   Accretion  Loss (1)     Reduction         Balance
   -----  ----------------  --------------  ------------  -------------  ---------  --------  ---------------  --------------
<S>       <C>               <C>             <C>           <C>            <C>        <C>       <C>              <C>
     A    1,080,076,000.00  949,908,049.96      0.00      11,594,267.46     0.00      0.00     11,594,267.46   938,313,782.50
    X-1               0.00            0.00      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              0.00             0.00
    A-R             100.00            0.00      0.00               0.00     0.00      0.00              0.00             0.00
    B-1      16,815,000.00   16,815,000.00      0.00               0.00     0.00      0.00              0.00    16,815,000.00
    B-2       8,968,000.00    8,968,000.00      0.00               0.00     0.00      0.00              0.00     8,968,000.00
    B-3       6,165,000.00    6,165,000.00      0.00               0.00     0.00      0.00              0.00     6,165,000.00
    B-4       2,802,000.00    2,802,000.00      0.00               0.00     0.00      0.00              0.00     2,802,000.00
    B-5       1,681,000.00    1,681,000.00      0.00               0.00     0.00      0.00              0.00     1,681,000.00
    B-6       4,486,095.46    4,486,095.46      0.00               0.00     0.00      0.00              0.00     4,486,095.46
          ----------------  --------------      ----      -------------     ----      ----     -------------   --------------
Totals    1,120,993,195.46  990,825,145.42      0.00      11,594,267.46     0.00      0.00     11,594,267.46   979,230,877.96
          ----------------  --------------      ----      -------------     ----      ----     -------------   --------------

<CAPTION>
             Ending
          Certificate  Total Principal
   Class   Percentage   Distribution
   -----  -----------  ---------------
<S>       <C>          <C>
     A    0.86874792    11,594,267.46
    X-1   0.00000000             0.00
    X-2   0.00000000             0.00
    A-R   0.00000000             0.00
    B-1   1.00000000             0.00
    B-2   1.00000000             0.00
    B-3   1.00000000             0.00
    B-4   1.00000000             0.00
    B-5   1.00000000             0.00
    B-6   1.00000000             0.00
          ----------    -------------
Totals    0.87353865    11,594,267.46
          ----------    -------------
</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                                               Ending
        Original Face     Certificate     Principal     Principal                 Realized   Total Principal   Certificate
Class       Amount          Balance      Distribution  Distribution  Accretion    Loss (3)      Reduction        Balance
-----  ----------------  --------------  ------------  ------------  ----------  ----------  ---------------  -------------
<S>    <C>               <C>             <C>           <C>           <C>         <C>         <C>              <C>
  A    1,080,076,000.00   879.48260119    0.00000000    10.73467743  0.00000000  0.00000000    10.73467743     868.74792376
 X-1               0.00     0.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000       0.00000000
 X-2               0.00     0.00000000    0.00000000     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       0.00000000
 B-1      16,815,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
 B-2       8,968,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
 B-3       6,165,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
 B-4       2,802,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
 B-5       1,681,000.00  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
 B-6       4,486,095.46  1000.00000000    0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000

<CAPTION>
         Ending
       Certificate  Total Principal
Class   Percentage   Distribution
-----  -----------  ---------------
<S>    <C>          <C>
  A     0.86874792    10.73467743
 X-1    0.00000000     0.00000000
 X-2    0.00000000     0.00000000
 A-R    0.00000000     0.00000000
 B-1    1.00000000     0.00000000
 B-2    1.00000000     0.00000000
 B-3    1.00000000     0.00000000
 B-4    1.00000000     0.00000000
 B-5    1.00000000     0.00000000
 B-6    1.00000000     0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                                       Payment of               Non-
                            Current        Beginning        Current      Unpaid     Current   Supported
         Original Face    Certificate     Certificate/     Accrued      Interest   Interest    Interest  Realized  Total Interest
 Class      Amount           Rate      Notional Balance    Interest    Shortfall   Shortfall  Shortfall  Loss (4)   Distribution
 -----  ----------------  -----------  ----------------  ------------  ----------  ---------  ---------  --------  --------------
<S>     <C>               <C>          <C>               <C>           <C>         <C>        <C>        <C>       <C>
   A    1,080,076,000.00    1.59875%    949,908,049.96   1,265,554.58     0.00        0.00       0.00      0.00     1,265,554.58
  X-1               0.00    0.76323%    231,162,303.70     147,024.42     0.00        0.00       0.00      0.00       147,029.78
  X-2               0.00    0.99711%    735,560,746.26     611,195.52     0.00        0.00       0.00      0.00       611,217.80
  A-R             100.00    3.16453%              0.00           0.00     0.00        0.00       0.00      0.00             0.00
  B-1      16,815,000.00    1.99875%     16,815,000.00      28,007.48     0.00        0.00       0.00      0.00        28,007.48
  B-2       8,968,000.00    2.54689%      8,968,000.00      19,033.77     0.00        0.00       0.00      0.00        19,033.77
  B-3       6,165,000.00    2.54689%      6,165,000.00      13,084.65     0.00        0.00       0.00      0.00        13,084.65
  B-4       2,802,000.00    2.54689%      2,802,000.00       5,946.99     0.00        0.00       0.00      0.00         5,946.99
  B-5       1,681,000.00    2.54689%      1,681,000.00       3,567.77     0.00        0.00       0.00      0.00         3,567.77
  B-6       4,486,095.46    2.54689%      4,486,095.46       9,521.33     0.00        0.00       0.00      0.00         9,521.33
        ----------------   --------     --------------  ------------     ----        ----       ----      ----     ------------
Totals  1,120,993,195.46                                 2,102,936.51     0.00        0.00       0.00      0.00     2,102,964.15
        ----------------                                 ------------     ----        ----       ----      ----     ------------

<CAPTION>
        Remaining      Ending
         Unpaid     Certificate/
         Interest    Notational
 Class  Shortfall      Balance
 -----  ---------  ---------------
<S>     <C>        <C>
   A       0.00     938,313,782.50
  X-1      0.00     227,555,844.04
  X-2      0.00     727,572,938.46
  A-R      0.00               0.00
  B-1      0.00      16,815,000.00
  B-2      0.00       8,968,000.00
  B-3      0.00       6,165,000.00
  B-4      0.00       2,802,000.00
  B-5      0.00       1,681,000.00
  B-6      0.00       4,486,095.46
           ----     --------------
Totals     0.00
           ----
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                    Payment of                 Non-
                           Current        Beginning      Current      Unpaid      Current   Supported
Class   Original Face    Certificate     Certificate     Accrued     Interest    Interest    Interest    Realized   Total Interest
 (5)       Amount           Rate      Notional Balance   Interest   Shortfall    Shortfall  Shortfall    Loss (6)    Distribution
-----  ----------------  -----------  ----------------  ----------  ----------  ----------  ----------  ----------  --------------
<S>    <C>               <C>          <C>               <C>         <C>         <C>         <C>         <C>         <C>
  A    1,080,076,000.00    1.59875%      879.48260119   1.17172734  0.00000000  0.00000000  0.00000000  0.00000000    1.17172734
 X-1               0.00    0.76323%      925.70696831   0.58877044  0.00000000  0.00000000  0.00000000  0.00000000    0.58879190
 X-2               0.00    0.99711%      868.24954108   0.72144990  0.00000000  0.00000000  0.00000000  0.00000000    0.72147620
 A-R             100.00    3.16453%        0.00000000   0.00000000  0.00000000  0.00000000  0.00000000  0.00000000    0.00000000
 B-1      16,815,000.00    1.99875%     1000.00000000   1.66562474  0.00000000  0.00000000  0.00000000  0.00000000    1.66562474
 B-2       8,968,000.00    2.54689%     1000.00000000   2.12240968  0.00000000  0.00000000  0.00000000  0.00000000    2.12240968
 B-3       6,165,000.00    2.54689%     1000.00000000   2.12240876  0.00000000  0.00000000  0.00000000  0.00000000    2.12240876
 B-4       2,802,000.00    2.54689%     1000.00000000   2.12240899  0.00000000  0.00000000  0.00000000  0.00000000    2.12240899
 B-5       1,681,000.00    2.54689%     1000.00000000   2.12240928  0.00000000  0.00000000  0.00000000  0.00000000    2.12240928
 B-6       4,486,095.46    2.54689%     1000.00000000   2.12240914  0.00000000  0.00000000  0.00000000  0.00000000    2.12240914

<CAPTION>
       Remaining
         Unpaid
Class   Interest   Ending Certificate/
 (5)   Shortfall   Notational Balance
-----  ----------  -------------------
<S>    <C>         <C>
  A    0.00000000      868.74792376
 X-1   0.00000000      911.26462722
 X-2   0.00000000      858.82080186
 A-R   0.00000000        0.00000000
 B-1   0.00000000     1000.00000000
 B-2   0.00000000     1000.00000000
 B-3   0.00000000     1000.00000000
 B-4   0.00000000     1000.00000000
 B-5   0.00000000     1000.00000000
 B-6   0.00000000     1000.00000000
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                             <C>
Beginning Balance

Deposits
         Payments of Interest and Principal                     14,009,165.37
         Liquidations, Insurance Proceeds, Reserve Funds                27.64
         Proceeds from Repurchased Loans                                 0.00
         Other Amounts (Servicer Advances)                               0.00
         Realized Losses                                                 0.00
         Prepayment Penalties                                            0.00
                                                                -------------
Total Deposits                                                  14,009,193.01

Withdrawals
         Reimbursement for Servicer Advances                             0.00
         Payment of Service Fee                                    311,961.40
         Payment of Interest and Principal                      13,697,231.61
                                                                -------------
Total Withdrawals (Pool Distribution Amount)                    14,009,193.01

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                                             311,961.40
Supported Prepayment/Curtailment Interest Shortfall                   0.00
                                                                ----------

Net Servicing Fee                                               311,961.40
                                                                ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                 Beginning          Current          Current       Ending
Account Type                      Balance         Withdrawals       Deposits       Balance
------------                     ---------        -----------       --------       -------
<S>                              <C>              <C>               <C>           <C>
Reserve Fund                     10,000.00           27.64            27.64       10,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
           DELINQUENT                       BANKRUPTCY                    FORECLOSURE
           ----------                       ----------                    -----------
            No. of    Principal              No. of     Principal             No. of     Principal
            Loans      Balance               Loans       Balance              Loans       Balance
<S>        <C>        <C>         <C>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0            0.00  0-29 Days    0           0.00    0-29 Days    0          0.00
30 Days        0            0.00  30 Days      0           0.00    30 Days      0          0.00
60 Days        0            0.00  60 Days      0           0.00    60 Days      0          0.00
90 Days        0            0.00  90 Days      0           0.00    90 Days      0          0.00
120 Days       0            0.00  120 Days     0           0.00    120 Days     0          0.00
150 Days       0            0.00  150 Days     0           0.00    150 Days     0          0.00
180+ Days      0            0.00  180+ Days    0           0.00    180+ Days    0          0.00
               -      ----------               -           ----                 -          ----
               v      177,206.76               0           0.00                 0          0.00
            No. of    Principal               No. of    Principal              No. of    Principal
            Loans      Balance                 Loans     Balance                Loans     Balance
0-29 Days  0.000000%    0.000000% 0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%
30 Days    0.000000%    0.000000% 30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%
60 Days    0.000000%    0.000000% 60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%
90 Days    0.000000%    0.000000% 90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%
120 Days   0.000000%    0.000000% 120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%
150 Days   0.000000%    0.000000% 150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%
180+ Days  0.000000%    0.000000% 180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%
           --------     --------             --------   --------              --------   --------
           0.000000%    0.000000%            0.000000%  0.000000%             0.000000%  0.000000%
</TABLE>

<TABLE>
<CAPTION>
              REO                           TOTAL
              ---                           -----
            No. of    Principal              No. of    Principal
            Loans      Balance               Loans      Balance
<S>         <C>       <C>        <C>        <C>       <C>
0-29 Days    0          0.00     0-29 Days    0             0.00
30 Days      0          0.00     30 Days      v       177,206.76
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                  v       177,206.76

            No. of    Principal              No. of    Principal
            Loans      Balance               Loans      Balance
0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%   0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%   0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%   0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%   0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%   0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%   0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%   0.000000%
           --------   --------              --------    --------
           0.000000%  0.000000%             0.000000%   0.000000%
</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>
<CAPTION>
                    Original $         Original %          Current $           Current %
<S>               <C>                  <C>               <C>                   <C>
    Bankruptcy       218,860.00        0.01952376%          218,860.00         0.02235019%
         Fraud    33,629,796.00        3.00000001%       19,816,502.91         2.02368036%
Special Hazard    11,209,932.00        1.00000000%        9,792,308.78         1.00000000%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<S>                                                      <C>
Collateral Description                                        Mixed ARM
Weighted Average Gross Coupon                                 2.924711%
Weighted Average Net Coupon                                   2.546891%
Weighted Average Pass-Through Rate                            2.546891%
Weighted Average Maturity (Stepdown Calculation)                    313

Beginning Scheduled Collateral Loan Count                         2,863
Number of Loans Paid in Full                                         24
Ending Scheduled Collateral Loan Count                            2,839

Beginning Scheduled Collateral Balance                   990,825,145.42
Ending Scheduled Collateral Balance                      979,230,877.96
Ending Actual Collateral Balance at 31-Dec-2003          979,237,853.24

Monthly P&I Constant                                       2,414,897.91
Special Servicing Fee                                              0.00
Prepayment Penalties                                               0.00
Realization Loss Amount                                            0.00
Cumulative Realized Loss                                           0.00

Ending Scheduled Balance for Premium Loans               979,230,877.96

Scheduled Principal                                                0.00
Unscheduled Principal                                     11,594,267.46
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Principal Balance of 1-Month Libor Loans                         233,298,077.73
Principal Balance of 6-Month Libor Loans                         745,932,800.23
Pro Rata Senior Percentage                                            95.870402%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
Payment Received from Cap Provide                                             0
</TABLE><PAGE>

                                                                    EXHIBIT 10.1

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

                                SMT SERIES 2003-1
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 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>
    1A          81743PAA4         SEN               1.52875%     707,826,747.93      901,741.78     7,538,530.50       0.00
    2A          81743PAB2         SEN               1.59000%     172,048,970.77      227,964.89     3,283,291.88       0.00
   X-1A         81743PAC0          IO               0.87377%               0.00      117,198.91             0.00       0.00
   X-1B         81743PAD8          IO               1.07113%               0.00      488,152.67             0.00       0.00
    X-2         81743PAE6          IO               1.02494%               0.00      146,956.41             0.00       0.00
    X-B         81743PAF3          IO               0.53777%               0.00        7,134.62             0.00       0.00
    A-R         81743PAG1          R                2.74552%               0.00            0.00             0.00       0.00
    B-1         81743PAH9         SUB               2.02875%      15,905,000.00       26,889.39             0.00       0.00
    B-2         81743PAJ5         SUB               2.56652%       8,210,000.00       17,559.28             0.00       0.00
    B-3         81743PAK2         SUB               2.56652%       5,644,000.00       12,071.21             0.00       0.00
    B-4         SEQ0301B4         SUB               2.56652%       2,565,000.00        5,485.94             0.00       0.00
    B-5         SEQ0301B5         SUB               2.56652%       1,539,000.00        3,291.56             0.00       0.00
    B-6         SEQ0301B6         SUB               2.56652%       4,105,618.00        8,780.96             0.00       0.00
---------------------------------------------------------------------------------------------------------------------------
Totals                                                           917,844,336.70    1,963,227.62    10,821,822.38       0.00
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------

                            Ending Certificate     Total          Cumulative
   Class          CUSIP          Balance        Distribution      Realized Loss
-------------------------------------------------------------------------------
<S>             <C>         <C>                <C>                <C>
    1A          81743PAA4   700,288,217.43      8,440,272.28          0.00
    2A          81743PAB2   168,765,678.89      3,511,256.77          0.00
   X-1A         81743PAC0             0.00        117,198.91          0.00
   X-1B         81743PAD8             0.00        488,152.67          0.00
    X-2         81743PAE6             0.00        146,956.41          0.00
    X-B         81743PAF3             0.00          7,134.62          0.00
    A-R         81743PAG1             0.00              0.00          0.00
    B-1         81743PAH9    15,905,000.00         26,889.39          0.00
    B-2         81743PAJ5     8,210,000.00         17,559.28          0.00
    B-3         81743PAK2     5,644,000.00         12,071.21          0.00
    B-4         SEQ0301B4     2,565,000.00          5,485.94          0.00
    B-5         SEQ0301B5     1,539,000.00          3,291.56          0.00
    B-6         SEQ0301B6     4,105,618.00          8,780.96          0.00
--------------------------------------------------------------------------
Totals                      907,022,514.32     12,785,050.00          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>
    1A         798,206,000.00     707,826,747.93      23.19        7,538,507.31      0.00         0.00         7,538,530.50
    2A         190,000,000.00     172,048,970.77       0.00        3,283,291.88      0.00         0.00         3,283,291.88
   X-1A                  0.00               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                 0.00
    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
    A-R                100.00               0.00       0.00                0.00      0.00         0.00                 0.00
    B-1         15,905,000.00      15,905,000.00       0.00                0.00      0.00         0.00                 0.00
    B-2          8,210,000.00       8,210,000.00       0.00                0.00      0.00         0.00                 0.00
    B-3          5,644,000.00       5,644,000.00       0.00                0.00      0.00         0.00                 0.00
    B-4          2,565,000.00       2,565,000.00       0.00                0.00      0.00         0.00                 0.00
    B-5          1,539,000.00       1,539,000.00       0.00                0.00      0.00         0.00                 0.00
    B-6          4,105,618.00       4,105,618.00       0.00                0.00      0.00         0.00                 0.00
---------------------------------------------------------------------------------------------------------------------------
Totals       1,026,174,718.00     917,844,336.70      23.19       10,821,799.19      0.00         0.00        10,821,822.38
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>
---------------------------------------------------------------------

            Ending Certificate    Ending Certificate  Total Principal
   Class        Balance             Percentage         Distribution
---------------------------------------------------------------------
<S>         <C>                   <C>                 <C>
    1A      700,288,217.43          0.87732768         7,538,530.50
    2A      168,765,678.89          0.88824042         3,283,291.88
   X-1A               0.00          0.00000000                 0.00
   X-1B               0.00          0.00000000                 0.00
    X-2               0.00          0.00000000                 0.00
    X-B               0.00          0.00000000                 0.00
    A-R               0.00          0.00000000                 0.00
    B-1      15,905,000.00          1.00000000                 0.00
    B-2       8,210,000.00          1.00000000                 0.00
    B-3       5,644,000.00          1.00000000                 0.00
    B-4       2,565,000.00          1.00000000                 0.00
    B-5       1,539,000.00          1.00000000                 0.00
    B-6       4,105,618.00          1.00000000                 0.00
-------------------------------------------------------------------
Totals      907,022,514.32          0.88388702        10,821,822.38
-------------------------------------------------------------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
                               Beginning       Scheduled      Unscheduled
           Original Face      Certificate      Principal       Principal                     Realized       Total Principal
Class         Amount            Balance       Distribution   Distribution     Accretion      Loss (3)         Reduction
---------------------------------------------------------------------------------------------------------------------------
<S>        <C>               <C>              <C>            <C>             <C>            <C>             <C>
 1A        798,206,000.00     886.77202117    0.00002905       9.44431301    0.00000000     0.00000000       9.44434206
 2A        190,000,000.00     905.52089879    0.00000000      17.28048358    0.00000000     0.00000000      17.28048358
X-1A                 0.00       0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
X-1B                 0.00       0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 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
 A-R               100.00       0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-1        15,905,000.00    1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-2         8,210,000.00    1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-3         5,644,000.00    1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-4         2,565,000.00    1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-5         1,539,000.00    1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-6         4,105,618.00    1000.00000000    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>
 1A          877.32767911           0.87732768            9.44434206
 2A          888.24041521           0.88824042           17.28048358
X-1A           0.00000000           0.00000000            0.00000000
X-1B           0.00000000           0.00000000            0.00000000
 X-2           0.00000000           0.00000000            0.00000000
 X-B           0.00000000           0.00000000            0.00000000
 A-R           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
--------------------------------------------------------------------
</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>
  1A          798,206,000.00       1.52875%      707,826,747.93     901,741.78       0.00         0.00          0.00         0.00
  2A          190,000,000.00       1.59000%      172,048,970.77     227,964.89       0.00         0.00          0.00         0.00
 X-1A                   0.00       0.87377%      160,953,306.38     117,196.23       0.00         0.00          0.00         0.00
 X-1B                   0.00       1.07113%      546,873,442.54     488,141.53       0.00         0.00          0.00         0.00
  X-2                   0.00       1.02494%      172,048,970.77     146,949.51       0.00         0.00          0.00         0.00
  X-B                   0.00       0.53777%       15,905,000.00       7,127.71       0.00         0.00          0.00         0.00
  A-R                 100.00       2.74552%                0.00           0.00       0.00         0.00          0.00         0.00
  B-1          15,905,000.00       2.02875%       15,905,000.00      26,889.39       0.00         0.00          0.00         0.00
  B-2           8,210,000.00       2.56652%        8,210,000.00      17,559.28       0.00         0.00          0.00         0.00
  B-3           5,644,000.00       2.56652%        5,644,000.00      12,071.12       0.00         0.00          0.00         0.00
  B-4           2,565,000.00       2.56652%        2,565,000.00       5,485.94       0.00         0.00          0.00         0.00
  B-5           1,539,000.00       2.56652%        1,539,000.00       3,291.56       0.00         0.00          0.00         0.00
  B-6           4,105,618.00       2.56652%        4,105,618.00       8,780.96       0.00         0.00          0.00         0.00
---------------------------------------------------------------------------------------------------------------------------------
Totals      1,026,174,718.00                                      1,963,199.99       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>
  1A           901,741.78          0.00      700,288,217.43
  2A           227,964.89          0.00      168,765,678.89
 X-1A          117,198.91          0.00      159,860,510.23
 X-1B          488,152.67          0.00      540,427,708.19
  X-2          146,956.41          0.00      168,765,678.89
  X-B            7,134.62          0.00       15,905,000.00
  A-R                0.00          0.00                0.00
  B-1           26,889.39          0.00       15,905,000.00
  B-2           17,559.28          0.00        8,210,000.00
  B-3           12,071.21          0.00        5,644,000.00
  B-4            5,485.94          0.00        2,565,000.00
  B-5            3,291.56          0.00        1,539,000.00
  B-6            8,780.96          0.00        4,105,618.00
-----------------------------------------------------------
Totals       1,963,227.62          0.00
-----------------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                                                               Payment of                     Non-
                               Current       Beginning                           Unpaid       Current      Supported
Class (5)   Original Face    Certificate    Certificate/    Current Accrued     Interest     Interest      Interest       Realized
                Amount          Rate      Notional Balance      Interest        Shortfall    Shortfall     Shortfall      Loss (6)
-----------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>          <C>               <C>                <C>          <C>           <C>            <C>
  1A        798,206,000.00    1.52875%      886.77202117       1.12971060      0.00000000   0.00000000    0.00000000     0.00000000
  2A        190,000,000.00    1.59000%      905.52089879       1.19981521      0.00000000   0.00000000    0.00000000     0.00000000
 X-1A                 0.00    0.87377%      878.67090245       0.63979374      0.00000000   0.00000000    0.00000000     0.00000000
 X-1B                 0.00    1.07113%      889.18483692       0.79369012      0.00000000   0.00000000    0.00000000     0.00000000
  X-2                 0.00    1.02494%      905.52089879       0.77341847      0.00000000   0.00000000    0.00000000     0.00000000
  X-B                 0.00    0.53777%     1000.00000000       0.44814272      0.00000000   0.00000000    0.00000000     0.00000000
  A-R               100.00    2.74552%        0.00000000       0.00000000      0.00000000   0.00000000    0.00000000     0.00000000
  B-1        15,905,000.00    2.02875%     1000.00000000       1.69062496      0.00000000   0.00000000    0.00000000     0.00000000
  B-2         8,210,000.00    2.56652%     1000.00000000       2.13876736      0.00000000   0.00000000    0.00000000     0.00000000
  B-3         5,644,000.00    2.56652%     1000.00000000       2.13876860      0.00000000   0.00000000    0.00000000     0.00000000
  B-4         2,565,000.00    2.56652%     1000.00000000       2.13876803      0.00000000   0.00000000    0.00000000     0.00000000
  B-5         1,539,000.00    2.56652%     1000.00000000       2.13876543      0.00000000   0.00000000    0.00000000     0.00000000
  B-6         4,105,618.00    2.56652%     1000.00000000       2.13876693      0.00000000   0.00000000    0.00000000     0.00000000
-----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------
                               Remaining
                                Unpaid
Class (5)    Total Interest    Interest    Ending Certificate/
              Distribution     Shortfall   Notational Balance
--------------------------------------------------------------
<S>          <C>              <C>          <C>
  1A           1.12971060     0.00000000       877.32767911
  2A           1.19981521     0.00000000       888.24041521
 X-1A          0.63980837     0.00000000       872.70514629
 X-1B          0.79370823     0.00000000       878.70444273
  X-2          0.77345479     0.00000000       888.24041521
  X-B          0.44857718     0.00000000      1000.00000000
  A-R          0.00000000     0.00000000        0.000000000
  B-1          1.69062496     0.00000000      1000.00000000
  B-2          2.13876736     0.00000000      1000.00000000
  B-3          2.13876860     0.00000000      1000.00000000
  B-4          2.13876803     0.00000000      1000.00000000
  B-5          2.13876543     0.00000000      1000.00000000
  B-6          2.13876693     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                             13,081,133.51
         Liquidations, Insurance Proceeds, Reserve Funds                        27.63
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                     671.43
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          13,081,832.57

Withdrawals

         Reimbursement for Servicer Advances                                   671.43
         Payment of Service Fee                                            296,111.14
         Payment of Interest and Principal                              12,785,050.00
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            13,081,832.57

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                                                    288,462.42
Master Servicing Fee                                                     7,648.72
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------

Net Servicing Fee                                                      296,111.14
                                                                       ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------
                                            Beginning          Current          Current       Ending
           Account Type                      Balance         Withdrawals       Deposits       Balance
----------------------------------------------------------------------------------------------------
<S>                                         <C>              <C>               <C>           <C>
Class X-1 Reserve Fund Sub Account          5,000.00            13.82            13.82       5,000.00
Class X-2 Reserve Fund Sub Account          2,500.00            6.91             6.91        2,500.00
Class X-B Reserve Fund Sub Account          2,500.00            6.91             6.91        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            0              0.00  30 Days         0           0.00    30 Days         0           0.00
60 Days            0              0.00  60 Days         0           0.00    60 Days         0           0.00
90 Days            1        280,250.00  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        280,250.00                  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        0.000000%    0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days        0.000000%    0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days        0.038521%    0.030898%   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%
               ---------------------                --------------------                --------------------
               0.038521%    0.030898%               0.000000%   0.000000%               0.000000%   0.000000%
------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------
                REO                                 TOTAL
-------------------------------------------------------------------------
              No. of     Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance
<S>          <C>         <C>         <C>         <C>          <C>
0-29 Days        0            0.00   0-29 Days       0              0.00
30 Days          0            0.00   30 Days         0              0.00
60 Days          0            0.00   60 Days         0              0.00
90 Days          0            0.00   90 Days         1        280,250.00
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        280,250.00

              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     0.000000%    0.000000%
60 Days      0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days      0.000000%   0.000000%   90 Days     0.038521%    0.030898%
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%               0.038521%    0.030898%
---------------------    --------                --------     --------
</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    671.43
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                       Original $          Original%        Current $        Current %      Current Class %     Prepayment %
                   ----------------    --------------    --------------    -------------    ---------------    -------------
<S>                <C>                 <C>               <C>               <C>              <C>                <C>
Class A            1,026,174,618.00      99.99999026%    907,022,514.32    100.00000000%        95.813928%         0.000000%
Class 1A             227,968,618.00      22.21538048%    206,734,296.89     22.79263123%        77.207369%     1,844.386902%
Class 2A              37,968,618.00       3.70001495%     37,968,618.00      4.18607228%        18.606559%       444.487284%
Class X-1-A           37,968,618.00       3.70001495%     37,968,618.00      4.18607728%         0.000000%          0.00000%
Class X-1-B           37,968,618.00       3.70001495%     37,968,618.00      4.18607728%         0.000000%          0.00000%
Class X-2             37,968,618.00       3.70001495%     37,968,618.00      4.18607228%         0.000000%          0.00000%
Class B-1             22,063,618.00       2.15008396%     22,063,618.00      2.43253256%         1.753540%        41.889858%
Class B-2             13,853,618.00       1.35002527%     13,853,618.00      1.52737311%         0.905159%        21.623120%
Class B-3              8,209,618.00       0.80002146%      8,209,618.00      0.90511733%         0.622256%        14.864908%
Class B-4              5,644,618.00       0.55006403%      5,644,618.00      0.62232391%         0.282793%         6.755579%
Class B-5              4,105,618.00       0.40008957%      4,105,618.00      0.45264786%         0.169676%         4.053347%
Class B-6                      0.00       0.00000000%              0.00      0.00000000%         0.452648%        10.813188%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     POOL 1

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
--------------------------------------------------------------------------------------------------------------
                 No. of      Principal                 No. of    Principal                 No. of    Principal
                  Loans       Balance                  Loans      Balance                  Loans      Balance
<S>              <C>         <C>         <C>         <C>         <C>         <C>        <C>          <C>
0-29 Days           0              0.00  0-29 Days       0             0.00  0-29 Days       0          0.00
30 Days             0              0.00  30 Days         0             0.00  30 Days         0          0.00
60 Days             0              0.00  60 Days         0             0.00  60 Days         0          0.00
90 Days             1        280,250.00  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        280,250.00                  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         0.000000%    0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days         0.000000%    0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days         0.048309%    0.038340%   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%
                --------    ---------                --------    --------                --------    --------
                0.048309%    0.038340%               0.000000%   0.000000%               0.000000%   0.000000%
--------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------
                REO                                 TOTAL
-------------------------------------------------------------------------
               No. of    Principal                 No. of      Principal
               Loans      Balance                  Loans       Balance
<S>          <C>         <C>         <C>         <C>          <C>
0-29 Days        0          0.00     0-29 Days       0               0.00
30 Days          0.         0.00     30 Days         0               0.00
60 Days          0          0.00     60 Days         0               0.00
90 Days          0          0.00     90 Days         1         280,250.00
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         280,250.00

               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     0.000000%    0.000000%
60 Days      0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days      0.000000%   0.000000%   90 Days     0.048309%    0.038340%
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%               0.048309%    0.038340%
----------------------------------------------------------------------
</TABLE>

                                     POOL 2

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

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

0-29 Days     0.000000%    0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days       0.000000%    0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days       0.000000%    0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days       0.000000%    0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days      0.000000%    0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days      0.000000%    0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days     0.000000%    0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
              --------     --------                --------    --------                --------     --------
              0.000000%    0.000000%               0.000000%   0.000000%               0.000000%    0.000000%
------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<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         0          0.00
60 Days         0          0.00     60 Days         0          0.00
90 Days         0          0.00     90 Days         0          0.00
120 Days        0          0.00     120 Days        0          0.00
150 Days        0          0.00     150 Days        0          0.00
180+ Days       0          0.00     180+ Days       0          0.00
            ----------- -----------             ----------- --------
                0          0.00                     0          0.00

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%
--------------------------------------------------------------------
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                             Mixed Arm
<S>                                                             <C>
Weighted Average Gross Coupon                                         2.953849%
Weighted Average Net Coupon                                           2.576710%
Weighted Average Pass-Through Rate                                    2.566710%
Weighted Average Maturity (Stepdown Calculation)                           316

Beginning Scheduled Collateral Loan Count                                2,618
Number of Loans Paid in Full                                                22
Ending Scheduled Collateral Loan Count                                   2,596

Beginning Scheduled Collateral Balance                          917,844,336.70
Ending Scheduled Collateral Balance                             907,022,514.32
Ending Actual Collateral Balance at 31-Dec-2003                 907,024,483.60

Monthly P&I Constant                                              2,259,334.31
Special Servicing Fee                                                     0.00
Prepayment Penalties                                                      0.00
Realization Loss Amount                                                   0.00
Cumulative Realized Loss                                                  0.00

Class A Optimal Amount                                           12,703,816.32

Ending Scheduled Balance for Premium Loans                      907,022,514.32

Scheduled Principal                                                      23.19
Unscheduled Principal                                            10,821,799.19
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                         <C>
Cap Agreement Deposit - 1 month Libor Loan                                  0
Cap Agreement Deposit - 6 month Libor Loan                                  0
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                                 1                 2                  TOTAL
<S>                                        <C>               <C>                   <C>
                                                             6 Month LIBOR
Collateral Description                        Mixed ARM             ARM               Mixed ARM
Weighted Average Coupon Rate                     2.942656          2.999937              2.953849
Weighted Average Net Rate                        2.564997          2.624937              2.576710
Pass-Through Rate                                2.554997          2.614937              2.566710
Weighted Average Maturity                             314               322                   316
Record Date                                    12/31/2003        12/31/2003            12/31/2003
Principal and Interest Constant              1,810,971.65        448,362.66          2,259,334.31
Beginning Loan Count                                2,088               530                 2,618
Loans Paid in Full                                     18                 4                    22
Ending Loan Count                                   2,070               526                 2,596
Beginning Scheduled Balance                738,495,523.93    179,348,812.77        917,844,336.70
Ending Scheduled Balance                   730,956,993.43    176,065,520.89        907,022,514.32
Scheduled Principal                                 23.19              0.00                 23.19
Unscheduled Principal                        7,538,507.31      3,283,291.88         10,821,799.19
Scheduled Interest                           1,810,948.46        448,362.66          2,259,311.12
Servicing Fee                                  232,415.92         56,046.50            288,462.42
Master Servicing Fee                             6,154.15          1,494.57              7,648.72
Trustee Fee                                          0.00              0.00                  0.00
FRY Amount                                           0.00              0.00                  0.00
Special Hazard Fee                                   0.00              0.00                  0.00
Other Fee                                            0.00              0.00                  0.00
Pool Insurance Fee                                   0.00              0.00                  0.00
Spread 1                                             0.00              0.00                  0.00
Spread 2                                             0.00              0.00                  0.00
Spread 3                                             0.00              0.00                  0.00
Net Interest                                 1,572,378.39        390,821.59          1,963,199.98
Realized Loss Amount                                 0.00              0.00                  0.00
Cumulative Realized Loss                             0.00              0.00                  0.00
Percentage of Cumulative Losses                      0.00              0.00                  0.00
Prepayment Penalties                                 0.00              0.00                  0.00
Special Servicing Fee                                0.00              0.00                  0.00
</TABLE>

<PAGE>

                             MISCELLANEOUS REPORTING

<TABLE>
<CAPTION>
Group Pool 1
<S>                                                          <C>
One Month Libor Loan Balance                                 166,861,521.95
Six Month Libor Loan Balance                                 564,095,471.48
Senior Percent                                                   100.000000%
Senior Prepayment Percent                                        100.000000%
Subordinate Percent                                                0.000000%
Subordinate Prepayment Percent                                     0.000000%

Group Pool 2
Six Month Libor Loan Balance                                 176,065,520.89
Senior Percent                                                   100.000000%
Senior Prepayment Percent                                        100.000000%
Subordinate Percent                                                0.000000%
Subordinate Prepayment Percent                                     0.000000%
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}]]