Document:

<PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2004-6
                          RECORD DATE: JANUARY 31, 2005
                      DISTRIBUTION DATE: FEBRUARY 22, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate                       Beginning
                      Class     Certificate Pass-   Certificate      Interest      Principal       Current     Ending Certificate
Class     CUSIP    Description    Through Rate        Balance      Distribution  Distribution   Realized Loss       Balance
------  ---------  -----------  -----------------  --------------  ------------  -------------  -------------  ------------------
<S>     <C>        <C>          <C>                <C>             <C>           <C>            <C>            <C>
 A-1    81744FCG0          SEN       3.70269%      438,845,240.19  1,354,089.33  15,180,141.33      0.00         423,665,098.86
 A-2    81744FCH8          SEN       2.78000%      164,625,622.44    381,382.69   4,133,918.66      0.00         160,491,703.78
A-3-A   81744FCJ4          SEN       3.01750%      175,186,052.29    440,519.93   4,513,049.23      0.00         170,673,003.06
A-3-B   81744FCU9          SEN       3.16000%        3,120,362.25      8,216.95      80,385.10      0.00           3,039,977.15
 X-A    81744FCK1           IO       0.75287%                0.00    215,152.63           0.00      0.00                   0.00
 X-B    81744FCL9           IO       0.54230%                0.00     11,286.62           0.00      0.00                   0.00
 B-1    81744FCN5          SUB       3.00000%       15,725,000.00     39,312.50           0.00      0.00          15,725,000.00
 B-2    81744FCP0          SUB       3.38000%        9,250,000.00     26,054.17           0.00      0.00           9,250,000.00
 B-3    81744FCQ8          SUB       3.68304%        5,550,000.00     17,034.06           0.00      0.00           5,550,000.00
 B-4    81744FCR6          SUB       3.68304%        2,313,000.00      7,099.06           0.00      0.00           2,313,000.00
 B-5    81744FCS4          SUB       3.68304%        2,313,000.00      7,099.06           0.00      0.00           2,313,000.00
 B-6    81744FCT2          SUB       3.68304%        4,166,584.59     12,788.08           0.00      0.00           4,166,584.59
 A-R    81744FCM7            R       3.35971%                0.00          0.00           0.00      0.00                   0.00
        ---------  -----------       -------       --------------  ------------  -------------      ----         --------------
Totals                                             821,094,861.76  2,520,035.75  23,907,494.32      0.00         797,187,367.44
        ---------  -----------       -------       --------------  ------------  -------------      ----         --------------

<CAPTION>
            Total       Cumulative
Class   Distribution   Realized Loss
------  -------------  -------------
<S>     <C>            <C>
 A-1    16,534,230.66      0.00
 A-2     4,515,301.35      0.00
A-3-A    4,953,569.16      0.00
A-3-B       88,602.05      0.00
 X-A       215,152.63      0.00
 X-B        11,286.62      0.00
 B-1        39,312.50      0.00
 B-2        26,054.17      0.00
 B-3        17,034.06      0.00
 B-4         7,099.06      0.00
 B-5         7,099.06      0.00
 B-6        12,788.08      0.00
 A-R             0.00      0.00
        -------------      ----
Totals  26,427,530.07      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  Ending Certificate
Class       Amount          Balance     Distribution   Distribution  Accretion  Loss (1)     Reduction           Balance
------  --------------  --------------  ------------  -------------  ---------  --------  ---------------  ------------------
<S>     <C>             <C>             <C>           <C>            <C>        <C>       <C>              <C>
 A-1    500,000,000.00  438,845,240.19   125,192.81   15,054,948.52     0.00      0.00     15,180,141.33     423,665,098.86
 A-2    185,687,000.00  164,625,622.44    14,127.14    4,119,791.52     0.00      0.00      4,133,918.66     160,491,703.78
 A-3    196,500,000.00  175,186,052.29    48,464.89    4,464,584.34     0.00      0.00      4,513,049.23     170,673,003.06
 X-1      3,500,000.00    3,120,362.25       863.24       79,521.86     0.00      0.00         80,385.10       3,039,977.15
 X-2              0.00            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               0.00
 B-1     15,725,000.00   15,725,000.00         0.00            0.00     0.00      0.00              0.00      15,725,000.00
 B-2      9,250,000.00    9,250,000.00         0.00            0.00     0.00      0.00              0.00       9,250,000.00
 B-3      5,550,000.00    5,550,000.00         0.00            0.00     0.00      0.00              0.00       5,550,000.00
 B-4      2,313,000.00    2,313,000.00         0.00            0.00     0.00      0.00              0.00       2,313,000.00
 B-5      2,313,000.00    2,313,000.00         0.00            0.00     0.00      0.00              0.00       2,313,000.00
 B-6      4,166,584.59    4,166,584.59         0.00            0.00     0.00      0.00              0.00       4,166,584.59
 A-R            100.00            0.00         0.00            0.00     0.00      0.00              0.00               0.00
        --------------  --------------   ----------   -------------     ----      ----     -------------     --------------
Totals  925,004,684.59  821,094,861.76   188,648.08   23,718,846.24     0.00      0.00     23,907,494.32     797,187,367.44
        --------------  --------------   ----------   -------------     ----      ----     -------------     --------------

<CAPTION>
        Ending Certificate  Total Principal
Class       Percentage       Distribution
------  ------------------  ---------------
<S>     <C>                 <C>
 A-1        0.84733020      15,180,141.33
 A-2        0.86431308       4,133,918.66
 A-3        0.86856490       4,513,049.23
 X-1        0.86856490          80,385.10
 X-2        0.00000000               0.00
 X-B        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
 A-R        0.00000000               0.00
            ----------      -------------
Totals      0.86181982      23,907,494.32
            ----------      -------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                          Beginning     Scheduled    Unscheduled
         Original Face   Certificate    Principal     Principal                 Realized   Total Principal  Ending Certificate
Class       Amount         Balance     Distribution  Distribution   Accretion   Loss (3)      Reduction          Balance
------  --------------  -------------  ------------  ------------  ----------  ----------  ---------------  ------------------
<S>     <C>             <C>            <C>           <C>           <C>         <C>         <C>              <C>
 A-1    500,000,000.00   877.69048038   0.25038562    30.10989704  0.00000000  0.00000000    30.36028266       847.33019772
 A-2    185,687,000.00   886.57591775   0.07608039    22.18675255  0.00000000  0.00000000    22.26283294       864.31308481
 A-3    196,500,000.00   891.53207272   0.24664066    22.72053099  0.00000000  0.00000000    22.96717165       868.56490107
 X-1      3,500,000.00   891.53207143   0.24664000    22.72053143  0.00000000  0.00000000    22.96717143       868.56490000
 X-2              0.00     0.00000000   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         0.00000000
 B-1     15,725,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000     0.00000000      1000.00000000
 B-2      9,250,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000     0.00000000      1000.00000000
 B-3      5,550,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000     0.00000000      1000.00000000
 B-4      2,313,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000     0.00000000      1000.00000000
 B-5      2,313,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000     0.00000000      1000.00000000
 B-6      4,166,584.59  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000     0.00000000      1000.00000000
 A-R            100.00     0.00000000   0.00000000     0.00000000  0.00000000  0.00000000     0.00000000         0.00000000

<CAPTION>
          Ending Certificate  Total Principal
Class         Percentage        Distribution
------    ------------------  ---------------
<S>       <C>                 <C>
 A-1          0.84733020        30.36028266
 A-2          0.86431308        22.26283294
 A-3          0.86856490        22.96717165
 X-1          0.86856490        22.96717143
 X-2          0.00000000         0.00000000
 X-B          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
 A-R          0.00000000         0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                            Beginning                   Payment of                Non-
                                           Certificate/      Current      Unpaid     Current   Supported
        Original Face        Current         Notional        Accrued     Interest    Interest   Interest  Realized  Total Interest
 Class      Amount      Certificate Rate     Balance        Interest     Shortfall  Shortfall  Shortfall  Loss (4)   Distribution
------  --------------  ----------------  --------------  ------------  ----------  ---------  ---------  --------  --------------
<S>     <C>             <C>               <C>             <C>           <C>         <C>        <C>        <C>       <C>
  A-1   500,000,000.00       3.70269%     438,845,240.19  1,354,089.33     0.00        0.00      0.00       0.00     1,354,089.33
  A-2   185,687,000.00       2.78000%     164,625,622.44    381,382.69     0.00        0.00      0.00       0.00       381,382.69
  A-3   196,500,000.00       3.01750%     175,186,052.29    440,519.93     0.00        0.00      0.00       0.00       440,519.93
  X-1     3,500,000.00       3.16000%       3,120,362.25      8,216.95     0.00        0.00      0.00       0.00         8,216.95
  X-2             0.00       0.75287%     342,932,036.98    215,152.63     0.00        0.00      0.00       0.00       215,152.63
  X-B             0.00       0.54230%      24,975,000.00     11,286.62     0.00        0.00      0.00       0.00        11,286.62
  B-1    15,725,000.00       3.00000%      15,725,000.00     39,312.50     0.00        0.00      0.00       0.00        39,312.50
  B-2     9,250,000.00       3.38000%       9,250,000.00     26,054.17     0.00        0.00      0.00       0.00        26,054.17
  B-3     5,550,000.00       3.68304%       5,550,000.00     17,034.06     0.00        0.00      0.00       0.00        17,034.06
  B-4     2,313,000.00       3.68304%       2,313,000.00      7,099.06     0.00        0.00      0.00       0.00         7,099.06
  B-5     2,313,000.00       3.68304%       2,313,000.00      7,099.06     0.00        0.00      0.00       0.00         7,099.06
  B-6     4,166,584.59       3.68304%       4,166,584.59     12,788.08     0.00        0.03      0.00       0.00        12,788.08
  A-R           100.00       3.35971%               0.00          0.00     0.00        0.00      0.00       0.00             0.67
        --------------       -------      --------------  ------------     ----        ----      ----       ----     ------------
Totals  925,004,684.59                                    2,520,035.08     0.00        0.03      0.00       0.00     2,520,035.75
        --------------       -------      --------------  ------------     ----        ----      ----       ----     ------------

<CAPTION>
        Remaining      Ending
          Unpaid    Certificate/
         Interest    Notational
 Class  Shortfall      Balance
------  ---------  --------------
<S>     <C>        <C>
  A-1      0.00    423,665,098.86
  A-2      0.00    160,491,703.78
  A-3      0.00    170,673,003.06
  X-1      0.00      3,039,977.15
  X-2      0.00    334,204,683.99
  X-B      0.00     24,975,000.00
  B-1      0.00     15,725,000.00
  B-2      0.00      9,250,000.00
  B-3      0.00      5,550,000.00
  B-4      0.00      2,313,000.00
  B-5      0.00      2,313,000.00
  B-6      0.03      4,166,584.59
  A-R      0.00              0.00
           ----    --------------
Totals     0.03
           ----    --------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                       Payment of                 Non-
                         Current       Beginning                         Unpaid     Current    Supported
Class  Original Face   Certificate    Certificate/    Current Accrued   Interest    Interest    Interest    Realized
 (5)       Amount          Rate     Notional Balance      Interest     Shortfall   Shortfall   Shortfall    Loss (6)
-----  --------------  -----------  ----------------  ---------------  ----------  ----------  ----------  ----------
<S>    <C>             <C>          <C>               <C>              <C>         <C>         <C>         <C>
 A-1   500,000,000.00    3.70269%      877.69048038      2.70817866    0.00000000  0.00000000  0.00000000  0.00000000
 A-2   185,687,000.00    2.78000%      886.57591775      2.05390087    0.00000000  0.00000000  0.00000000  0.00000000
 A-3   196,500,000.00    3.01750%      891.53207272      2.24183170    0.00000000  0.00000000  0.00000000  0.00000000
 X-1     3,500,000.00    3.16000%      891.53207143      2.34770000    0.00000000  0.00000000  0.00000000  0.00000000
 X-2             0.00    0.75287%      889.14595768      0.55784258    0.00000000  0.00000000  0.00000000  0.00000000
 X-B             0.00    0.54230%     1000.00000000      0.45191672    0.00000000  0.00000000  0.00000000  0.00000000
 B-1    15,725,000.00    3.00000%     1000.00000000      2.50000000    0.00000000  0.00000000  0.00000000  0.00000000
 B-2     9,250,000.00    3.38000%     1000.00000000      2.81666703    0.00000000  0.00000000  0.00000000  0.00000000
 B-3     5,550,000.00    3.68304%     1000.00000000      3.06920000    0.00000000  0.00000000  0.00000000  0.00000000
 B-4     2,313,000.00    3.68304%     1000.00000000      3.06920017    0.00000000  0.00000000  0.00000000  0.00000000
 B-5     2,313,000.00    3.68304%     1000.00000000      3.06920017    0.00000000  0.00000000  0.00000000  0.00000000
 B-6     4,166,584.59    3.68304%     1000.00000000      3.06919966    0.00000000  0.00000000  0.00000000  0.00000000
 A-R           100.00    3.35971%        0.00000000      0.00000000    0.00000000  0.00000000  0.00000000  0.00000000
       --------------    --------      ------------      ----------    ----------  ----------  ----------  ----------

<CAPTION>
                       Remaining     Ending
                         Unpaid    Certificate/
Class  Total Interest   Interest    Notational
 (5)    Distribution   Shortfall      Balance
-----  --------------  ----------  -------------
<S>    <C>             <C>         <C>
 A-1     2.70817866    0.00000000   847.33019772
 A-2     2.05390087    0.00000000   864.31308481
 A-3     2.24183170    0.00000000   868.56490107
 X-1     2.34770000    0.00000000   868.56490000
 X-2     0.55784258    0.00000000   866.51788624
 X-B     0.45191672    0.00000000  1000.00000000
 B-1     2.50000000    0.00000000  1000.00000000
 B-2     2.81666703    0.00000000  1000.00000000
 B-3     3.06920000    0.00000000  1000.00000000
 B-4     3.06920017    0.00000000  1000.00000000
 B-5     3.06920017    0.00000000  1000.00000000
 B-6     3.06919966    0.00000000  1000.00000000
 A-R     6.70000000    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                         26,685,664.24
        Liquidations, Insurance Proceeds, Reserve Funds                     0.00
        Proceeds from Repurchased Loans                                     0.00
        Other Amounts (Servicer Advances)                              50,099.09
        Realized Losses (Gains, Subsequent Expenses & Recoveries)           0.00
        Prepayment Penalties                                                0.00
                                                                   -------------
Total Deposits                                                     26,735,763.33

Withdrawals
        Reimbursement for Servicer Advances                            46,870.61
        Payment of Service Fee                                        261,362.65
        Payment of Interest and Principal                          26,427,530.07
                                                                   -------------
Total Withdrawals (Pool Distribution Amount)                       26,735,763.33

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                                  256,915.05
Master Servicing Fee                                   4,447.60
Supported Prepayment/Curtailment Interest Shortfall        0.00
                                                     ----------

Net Servicing Fee                                    261,362.65
                                                     ==========
</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

             DELINQUENT

<TABLE>
<CAPTION>
             No. of     Principal
             Loans       Balance
           ---------  -------------
<S>        <C>        <C>
0-29 Days         0            0.00
30 Days          42   13,306,560.01
60 Days           3    1,532,697.73
90 Days           0            0.00
120 Days          0            0.00
150 Days          0            0.00
180+ Days         0            0.00
           --------   -------------
                 45   14,839,257.74

             No. of     Principal
             Loans       Balance

0-29 Days  0.000000%       0.000000%
30 Days    1.662050%       1.669184%
60 Days    0.118718%       0.192263%
90 Days    0.000000%       0.000000%
120 Days   0.000000%       0.000000%
150 Days   0.000000%       0.000000%
180+ Days  0.000000%       0.000000%
           ---------       --------
           1.780768%       1.861447%
</TABLE>

           BANKRUPTCY

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

            No. of    Principal
             Loans     Balance

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

           FORECLOSURE

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

             No. of    Principal
              Loans      Balance

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

               REO

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

             No. of   Principal
              Loans    Balance

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

              TOTAL

<TABLE>
<CAPTION>
             No. of     Principal
              Loans      Balance
           ---------  -------------
<S>        <C>        <C>
0-29 Days         0            0.00
30 Days          42   13,306,560.01
60 Days           3    1,532,697.73
90 Days           0            0.00
120 Days          0            0.00
150 Days          0            0.00
180+ Days         0            0.00
           ---------  -------------
                 45      14,839,257

             No. of     Principal
              Loans      Balance

0-29 Days  0.000000%       0.000000%
30 Days    1.662050%       1.669184%
60 Days    0.118718%       0.192263%
90 Days    0.000000%       0.000000%
120 Days   0.000000%       0.000000%
150 Days   0.000000%       0.000000%
180+ Days  0.000000%       0.000000%
           --------      ----------
           1.780768%       1.861447%
</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  50,099.09
</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  4.93203809%    95.067962%        0.000000%
Class B-1  23,592,584.59  2.55053677%  23,592,584.59  2.95947798%     1.972560%       39.994827%
Class B-2  14,342,584.59  1.55054183%  14,342,584.59  1.79914850%     1.160329%       23.526369%
Class B-3   8,792,584.59  0.95054487%   8,792,584.59  1.10295082%     0.696198%       14.115821%
Class B-4   6,479,584.59  0.70049208%   6,479,584.59  0.81280573%     0.290145%        5.882864%
Class B-5   4,166,584.59  0.45043930%   4,166,584.59  0.52266064%     0.290145%        5.882864%
Class B-6           0.00  0.00000000%           0.00  0.00000000%     0.522661%       10.597255%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
             DELINQUENT
GROUP ONE
             No. of     Principal
              Loans      Balance
<S>          <C>      <C>
0-29 Days         0           0.00
30 Days          28   9,285,420.57
60 Days           1     649,097.75
90 Days           0           0.00
120 Days          0           0.00
150 Days          0           0.00
180+ Days         0           0.00
             ------   ------------
                 29   9,934,518.32

             No. of     Principal
              Loans     Balance

0-29 Days  0.000000%      0.000000%
30 Days    1.943095%      2.082583%
60 Days    0.069396%      0.145583%
90 Days    0.000000%      0.000000%
120 Days   0.000000%      0.000000%
150 Days   0.000000%      0.000000%
180+ Days  0.000000%      0.000000%
           --------       --------
           2.012491%      2.228166%
</TABLE>

            BANKRUPTCY

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

             No. of   Principal
              Loans     Balance
0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%
           --------   --------
           0.000000%  0.000000%
</TABLE>

           FORECLOSURE

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

             No. of   Principal
              Loans    Balance

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

             REO

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

             No. of   Principal
              Loans     Balance

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

            TOTAL

<TABLE>
<CAPTION>
             No. of    Principal
              Loans     Balance
<S>          <C>      <C>
0-29 Days         0           0.0
30 Days          28   9,285,420.5
60 Days           1     649,097.7
90 Days           0           0.0
120 Days          0           0.0
150 Days          0           0.0
180+ Days         0           0.0
             ------   -----------
                 29   9,934,518.3

             No. of      Principal
              Loans        Balance

0-29 Days  0.000000%     0.000000%
30 Days    1.943095%     2.082583%
60 Days    0.069396%     0.145583%
90 Days    0.000000%     0.000000%
120 Days   0.000000%     0.000000%
150 Days   0.000000%     0.000000%
180+ Days  0.000000%     0.000000%
           --------      --------
           2.012491%     2.228166%
</TABLE>

<TABLE>
<CAPTION>
             DELINQUENT
GROUP TWO
             No. of     Principal
             Loans       Balance
<S>          <C>      <C>
0-29 Days         0           0.00
30 Days          10   2,722,243.32
60 Days           0           0.00
90 Days           0           0.00
120 Days          0           0.00
150 Days          0           0.00
180+ Days         0           0.00
            -------   ------------
                 10   2,722,243.32

             No. of       Principal
             Loans         Balance

0-29 Days  0.000000%      0.000000%
30 Days    2.049180%      1.613303%
60 Days    0.000000%      0.000000%
90 Days    0.000000%      0.000000%
120 Days   0.000000%      0.000000%
150 Days   0.000000%      0.000000%
180+ Days  0.000000%      0.000000%
           ---------      ---------
           2.049180%      1.613303%
</TABLE>

             BANKRUPTCY
             1.183654%

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

             No. of   Principal
              Loans    Balance

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

            FORECLOSURE

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

             No. of   Principal
             Loans     Balance

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

                REO

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

              No. of  Principal
               Loans   Balance

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

               TOTAL

<TABLE>
<CAPTION>
             No. of    Principal
              Loans      Balance
<S>          <C>      <C>
0-29 Days         0           0.00
30 Days          10   2,722,243.32
60 Days           0           0.00
90 Days           0           0.00
120 Days          0           0.00
150 Days          0           0.00
180+ Days         0           0.00
             ------   ------------
                 10   2,722,243.32

            No. of     Principal
            Loans       Balance

0-29 Days  0.000000%      0.000000%
30 Days    2.049180%      1.613303%
60 Days    0.000000%      0.000000%
90 Days    0.000000%      0.000000%
120 Days   0.000000%      0.000000%
150 Days   0.000000%      0.000000%
180+ Days  0.000000%      0.000000%
           --------       --------
           2.049180%      1.613303%
</TABLE>

<PAGE>

             DELINQUENT

GROUP THREE
<TABLE>
<CAPTION>
               No. of      Principal
               Loans        Balance
<S>            <C>      <C>
0-29 Days           0           0.00
30 Days             4   1,298,896.12
60 Days             2     883,599.98
90 Days             0           0.00
120 Days            0           0.00
150 Days            0           0.00
180+ Days           0           0.00
              -------   ------------
                    6   2,182,496.10

               No. of     Principal
                Loans       Balance

0-29 Days    0.000000%      0.000000%
30 Days      0.668896%      0.711367%
60 Days      0.334448%      0.483922%
90 Days      0.000000%      0.000000%
120 Days     0.000000%      0.000000%
150 Days     0.000000%      0.000000%
180+ Days    0.000000%      0.000000%
             --------       --------
             1.003344%      1.195289%
</TABLE>

          BANKRUPTCY
           1.183654%

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

             No. of    Principal
              Loans     Balance

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

         FORECLOSURE

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

             No. of   Principal
              Loans     Balance

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

              REO

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

             No. of    Principal
              Loans     Balance

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

             TOTAL

<TABLE>
<CAPTION>
               No. of     Principal
               Loans       Balance
 <S>           <C>      <C>
 0-29 Days          0           0.00
 30 Days            4   1,298,896.12
 60 Days            2     883,599.98
 90 Days            0           0.00
 120 Days           0           0.00
 150 Days           0           0.00
 180+ Days          0           0.00
              -------   ------------
                    6   2,182,496.10

               No. of      Principal
                Loans       Balance

 0-29 Days   0.000000%      0.000000%
 30 Days     0.668896%      0.711367%
 60 Days     0.334448%      0.483922%
 90 Days     0.000000%      0.000000%
 120 Days    0.000000%      0.000000%
 150 Days    0.000000%      0.000000%
 180+ Days   0.000000%      0.000000%
             --------       --------
             1.003344%      1.195289%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                      4.065458%
Weighted Average Net Coupon                                        3.689986%
Weighted Average Pass-Through Rate                                 3.682940%
Weighted Average Maturity (Stepdown Calculation)                        337

Beginning Scheduled Collateral Loan Count                             2.577
Number of Loans Paid in Full                                             50
Ending Scheduled Collateral Loan Count                                2,527

Beginning Scheduled Collateral Balance                       821,094,861.76
Ending Scheduled Collateral Balance                          797,187,367.44
Ending Actual Collateral Balance at 31-Jan-2005              797,189,404.22

Monthly P&I Constant                                           2,970,419.98
Special Servicing Fee                                                  0.00
Prepayment Penalties                                                   0.00
Realization Loss Amount                                                0.00
Cumulative Realized Loss                                               0.00

Class A Optimal Amount                                        26,306,855.84

Scheduled Principal                                              188,648.08
Unscheduled Principal                                         23,718,846.24
</TABLE>

<TABLE>
<S>                                  <C>
MISCELLANEOUS REPORTING
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                4.085090           4.012613             4.065906           4.065458
Weighted Average Net Rate                   3.709762           3.637287             3.689943           3.689986
Pass-Through Rate                           3.702690           3.629722             3.683443           3.682940
Weighted Average Maturity                        338                333                  338                337
Record Date                               01/31/2005         01/31/2005           01/31/2005         01/31/2005
Principal and Interest Constant         1,694,682.31         592,180.68           683,556.99       2,970,419.98
Beginning Loan Count                           1,470                498                  609              2,577
Loans Paid in Full                                29                 10                   11                 50
Ending Loan Count                              1,441                488                  598              2,527
Beginning Scheduled Balance           461,039,396.01     172,870,935.08       187,184,530.67     821,094,861.76
Ending Scheduled Balance              445,859,254.68     168,737,016.42       182,591,096.34     797,187,367.44
Scheduled Principal                       125,192.81          14,127.14            49,328.13         188,648.08
Unscheduled Principal                  15,054,948.52      4,119,791.525         4,544,106.20      23,718,846.24
Scheduled Interest                      1,569,489.50         578,053.54           634,228.86       2,781,771.90
Servicing Fee                             144,200.62          54,069.15            58,645.28         256,915.05
Master Servicing Fee                        2,497.30             936.38             1,013.92           4,447.60
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                                     220.05             153.48                 0.00             373.53
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                            1,422,571.53         522,894.53           574,569.66       2,520,035.72
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>

<TABLE>
<CAPTION>
MISCELLANEOUS REPORTING

Group One
<S>                            <C>
Pro-Rata Senior Percent         95.186061%
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         95.230365%
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         95.257025%
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><PAGE>
                                                                               .
                                                                               .
                                                                               .

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                             Beginning     Scheduled     Unscheduled
          Original Face     Certificate    Principal      Principal               Realized   Total Principal
Class         Amount          Balance     Distribution   Distribution  Accretion   Loss (1)     Reduction
------  ----------------  --------------  ------------  -------------  ---------  ---------  ---------------
<S>     <C>               <C>             <C>           <C>            <C>        <C>        <C>
 A-1      498,828,000.00  458,416.516.23      0.00      10,980,493.45     0.00       0.00     10,980,493.45
 A-2      252,102,000.00  230,764,849.19      0.00       5,184,952.61     0.00       0.00      5,184,952.61
A-3-A     247,874,000.00  225,459,991.04      0.00       7,780,029.79     0.00       0.00      7,780,029.79
A-3-B       3,956,000.00    3,598,278.66      0.00         124,167.11     0.00       0.00        124,167.11
 X-A                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       18,900,000.00   18,900,000.00      0.00               0.00     0.00       0.00              0.00
 B-2       11,025,000.00   11,025,000.00      0.00               0.00     0.00       0.00              0.00
 B-3        6,300,000.00    6,300,000.00      0.00               0.00     0.00       0.00              0.00
 B-4        3,150,000.00    3,150,000.00      0.00               0.00     0.00       0.00              0.00
 B-5        2,625,000.00    2,625,000.00      0.00               0.00     0.00       0.00              0.00
 B-6        5,250,582.74    5,250,582.74      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  1,050,010,682.74  965,490,217.86      0.00      24,069,642.96     0.00       0.00     24,069,642.96
        ----------------  --------------      ----      -------------     ----       ----     -------------

<CAPTION>
        Ending Certificate  Ending Certificate  Total Principal
Class         Balance            Percentage       Distribution
------  ------------------  ------------------  ---------------
<S>     <C>                 <C>                 <C>
 A-1      447,436,022.78        0.89697455       10,980,493.45
 A-2      225,579,896.58        0.89479614        5,184,952.61
A-3-A     217,679,961.25        0.87818796        7,780,029.79
A-3-B       3,474,111.55        0.87818796          124,167.11
 X-A                0.00        0.00000000                0.00
 X-B                0.00        0.00000000                0.00
 B-1       18,900,000.00        1.00000000                0.00
 B-2       11,025,000.00        1.00000000                0.00
 B-3        6,300,000.00        1.00000000                0.00
 B-4        3,150,000.00        1.00000000                0.00
 B-5        2,625,000.00        1.00000000                0.00
 B-6        5,250,582.74        1.00000000                0.00
 A-R                0.00        0.00000000                0.00
          --------------        ----------       -------------
Totals    941,420,574.90        0.89658190       24,069,642.96
          --------------        ----------       -------------

</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>
 A-1   498,828,000.00   918.98713831   0.00000000   22.01258440   0.00000000  0.00000000    22.01258440
 A-2   252,102,000.00   915.36302445   0.00000000   20.56688408   0.00000000  0.00000000    20.56688408
A-3-A  247,874,000.00   909.57498987   0.00000000   31.38703450   0.00000000  0.00000000    31.38703450
A-3-B    3,956,000.00   909.57498989   0.00000000   31.38703488   0.00000000  0.00000000    31.38703488
 X-A             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    18,900,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-2    11,025,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-3     6,300,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-4     3,150,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-5     2,625,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-6     5,250,582.74  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 A-R           100.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000

<CAPTION>
       Ending Certificate  Ending Certificate  Total Principal
Class       Balance            Percentage       Distribution
-----  ------------------  ------------------  ---------------
<S>    <C>                 <C>                 <C>
 A-1       896.97455391        0.89697455        22.01258440
 A-2       894.79614037        0.89479614        20.56688408
A-3-A      878.18795537        0.87818796        31.38703450
A-3-B      878.18795501        0.87818796        31.38703488
 X-A         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                Non-
                                             Certificate/      Current      Unpaid     Current   Supported
         Original Face         Current         Notional        Accrued     Interest    Interest   Interest   Realized
 Class       Amount       Certificate Rate      Balance       Interest     Shortfall  Shortfall   Shortfall  Loss (4)
------  ----------------  ----------------  --------------  ------------  ----------  ---------  ----------  --------
<S>     <C>               <C>               <C>             <C>           <C>         <C>        <C>         <C>
  A-1     498,828,000.00      3.82899%      458,416,516.23  1,462,728.37     0.00        0.00       0.00       0.00
  A-2     252,102,000.00      2.81000%      230,764,849.19    540,374.36     0.00        0.00       0.00       0.00
 A-3-A    247,874,000.00      3.22750%      225,459,991.04    606,393.43     0.00        0.00       0.00       0.00
 A-3-B      3,956,000.00      3.45250%        3,598,278.66     10,352.55     0.00        0.00       0.00       0.00
  X-A               0.00      0.78683%      459,823,118.89    301,502.19     0.00        0.00       0.00       0.00
  X-B               0.00      0.62414%       29,925,000.00     15,564.59     0.00        0.00       0.00       0.00
  B-1      18,900,000.00      3.05000%       18,900,000.00     48,037.50     0.00        0.00       0.00       0.00
  B-2      11,025,000.00      3.44000%       11,025,000.00     31,605.00     0.00        0.00       0.00       0.00
  B-3       6,300,000.00      3.81783%        6,300,000.00     20,043.60     0.00        0.00       0.00       0.00
  B-4       3,150,000.00      3.81783%        3,150,000.00     10,021.80     0.00        0.00       0.00       0.00
  B-5       2,625,000.00      3.81783%        2,625,000.00      8,351.50     0.00        0.00       0.00       0.00
  B-6       5,250,582.74      3.81783%        5,250,582.74     16,704.85     0.00        0.00       0.00       0.00
  A-R             100.00      3.20809%                0.00          0.00     0.00        0.00       0.00       0.00
        ----------------      -------       --------------  ------------     ----        ----       ----       ----
Totals  1,050,010,682.74                                    3,071,679.74     0.00        0.00       0.00       0.00
        ----------------      -------       --------------  ------------     ----        ----       ----       ----

<CAPTION>
                        Remaining      Ending
                         Unpaid     Certificate/
        Total Interest   Interest    Notational
 Class   Distribution   Shortfall     Balance
------  --------------  ---------  --------------
<S>     <C>             <C>        <C>
  A-1    1,462,728.37      0.00    447,436,022.78
  A-2      540,374.36      0.00    225,579,896.58
 A-3-A     606,393.43      0.00    217,679,961.25
 A-3-B      10,352.55      0.00      3,474,111.55
  X-A      301,502.19      0.00    446,733,969.38
  X-B       15,564.59      0.00     29,925,000.00
  B-1       48,037.50      0.00     18,900,000.00
  B-2       31,605.00      0.00     11,025,000.00
  B-3       20,043.60      0.00      6,300,000.00
  B-4       10,021.80      0.00      3,150,000.00
  B-5        8,351.50      0.00      2,625,000.00
  B-6       16,704.85      0.00      5,250,582.74
  A-R            1.08      0.00              0.00
         ------------      ----    --------------
Totals   3,071,680.82      0.00
         ------------      ----    --------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                       Payment of                  Non-
                         Current        Beginning                        Unpaid      Current    Supported
Class     Original     Certificate    Certificate/    Current Accrued   Interest     Interest   Interest    Realized
 (5)    Face Amount       Rate      Notional Balance     Interest       Shortfall   Shortfall   Shortfall   Loss (6)
-----  --------------  -----------  ----------------  ---------------  ----------  ----------  ----------  ----------
<S>    <C>             <C>          <C>               <C>              <C>         <C>         <C>         <C>
 A-1   498,828,000.00    3.82899%      918.98713831      2.93233012    0.00000000  0.00000000  0.00000000  0.00000000
 A-2   252,102,000.00    2.81000%      915.36302445      2.14347510    0.00000000  0.00000000  0.00000000  0.00000000
A-3-A  247,874,000.00    3.22750%      909.57498987      2.44637772    0.00000000  0.00000000  0.00000000  0.00000000
A-3-B    3,956,000.00    3.45250%      909.57498989      2.61692366    0.00000000  0.00000000  0.00000000  0.00000000
 X-A             0.00    0.78683%      912.47056922      0.59829935    0.00000000  0.00000000  0.00000000  0.00000000
 X-B             0.00    0.62414%     1000.00000000      0.52011997    0.00000000  0.00000000  0.00000000  0.00000000
 B-1    18,900,000.00    3.05000%     1000.00000000      2.54166667    0.00000000  0.00000000  0.00000000  0.00000000
 B-2    11,025,000.00    3.44000%     1000.00000000      2.86666667    0.00000000  0.00000000  0.00000000  0.00000000
 B-3     6,300,000.00    3.81783%     1000.00000000      3.18152381    0.00000000  0.00000000  0.00000000  0.00000000
 B-4     3,150,000.00    3.81783%     1000.00000000      3.18152381    0.00000000  0.00000000  0.00000000  0.00000000
 B-5     2,625,000.00    3.81783%     1000.00000000      3.18152381    0.00000000  0.00000000  0.00000000  0.00000000
 B-6     5,250,582.74    3.81783%     1000.00000000      3.18152305    0.00000000  0.00000000  0.00000000  0.00000000
 A-R           100.00    3.20809%        0.00000000      0.00000000    0.00000000  0.00000000  0.00000000  0.00000000

<CAPTION>
                        Remaining
                         Unpaid
Class  Total Interest   Interest   Ending Certificate/
 (5)    Distribution    Shortfall  Notational Balance
-----  --------------  ----------  ------------------
<S>    <C>             <C>         <C>
 A-1     2.93233012    0.00000000      896.97455391
 A-2     2.14347510    0.00000000      894.79614037
A-3-A    2.44637772    0.00000000      878.18795537
A-3-B    2.61692366    0.00000000      878.18795501
 X-A     0.59829935    0.00000000      886.49653005
 X-B     0.52011997    0.00000000     1000.00000000
 B-1     2.54166667    0.00000000     1000.00000000
 B-2     2.86666667    0.00000000     1000.00000000
 B-3     3.18152381    0.00000000     1000.00000000
 B-4     3.18152381    0.00000000     1000.00000000
 B-5     3.18152381    0.00000000     1000.00000000
 B-6     3.18152305    0.00000000     1000.00000000
 A-R    10.80000000    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                             27,424,977.56
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                  65,348.87
         Realized Losses (Gains, Subsequent Expenses & Recoveries)               0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          27,490,326.43

Withdrawals
         Reimbursement for Servicer Advances                                41,552.55
         Payment of Service Fee                                            307,450.10
         Payment of Interest and Principal                              27,141,323.78
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            27,490,326.43

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                                                        303,024.93
Master Servicing Fee                                                         4,425.17
Supported Prepayment/Curtailment Interest Shortfall                              0.00
                                                                           ----------
Net Servicing Fee                                                          307,450.10
                                                                           ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                   Beginning       Current       Current     Ending
Account Type        Balance      Withdrawals    Deposits     Balance
------------       ---------     -----------    --------     -------
<S>                <C>           <C>            <C>          <C>
Reserve Fund       4,500.00         0.00          0.00       4,500.00
Reserve Fund       4,500.00         0.00          0.00       4,500.00
Reserve Fund       1,000.00         0.00          0.00       1,000.00
</TABLE>
<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

              DELINQUENT

<TABLE>
<CAPTION>
            No. of       Principal
            Loans        Balance
<S>         <C>       <C>
0-29 Days         0            0.00
30 Days          52   19,523,748.78
60 Days           0            0.00
90 Days           1      101,600.00
120 Days          1      385,500.00
150 Days          0            0.00
180+ Days         0            0.00
                 54   20,010,848.78
           --------   -------------

            No. of      Principal
            Loans        Balance

0-29 Days  0.000000%       0.000000%
30 Days    1.801178%       2.073854%
60 Days    0.000000%       0.000000%
90 Days    0.034638%       0.010792%
120 Days   0.034638%       0.040949%
150 Days   0.000000%       0.000000%
180+ Days  0.000000%       0.000000%
           --------   -------------
           1.870454%       2.125595%
</TABLE>

            BANKRUPTCY

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

             No. of    Principal
             Loans      Balance

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

           FORECLOSURE

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

              No. of    Principal
              Loans      Balance

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

                REO

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

             No. of      Principal
             Loans        Balance

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

                TOTAL

<TABLE>
<CAPTION>
              No. of    Principal
              Loans     Balance
 <S>         <C>        <C>
0-29 Days           0            0.00
30 Days            52   19,523,748.78
60 Days             0            0.00
90 Days             1      101,600.00
120 Days            1      385,500.00
150 Days            0            0.00
180+ Days           0            0.00
                   54   20,010,848.78
             --------   -------------

              No. of       Principal
              Loans        Balance

0-29 Days    0.000000%       0.000000%
30 Days      1.801178%       2.073854%
60 Days      0.000000%       0.000000%
90 Days      0.034638%       0.010792%
120 Days     0.034638%       0.040949%
150 Days     0.000000%       0.000000%
180+ Days    0.000000%       0.000000%
             --------   -------------
             1.870454%       2.125595%
</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  65,348.87
</TABLE>

<TABLE>
<CAPTION>
               Original $      Original%        Current $        Current %   Current Class %     Prepayment %
             -------------     ----------     -------------     ---------    ---------------     ------------
<S>          <C>               <C>            <C>               <C>          <C>                 <C>
Class A      47,250,582.74     4.50000972%    47,250,582.74     5.01907267%      94.980927%        0.000000%
Class B-1    28,350,582.74     2.70002803%    28,350,582.74     3.01146836%       2.007604%       39.999507%
Class B-2    17,325,582.74     1.65003871%    17,325,582.74     1.84036585%       1.171103%       23.333046%
Class B-3    11,025,582.74     1.05004482%    11,025,582.74     1.17116441%       0.669201%       13.333169%
Class B-4     7,875,582.74     0.75004787%     7,875,582.74     0.83656369%       0.334601%        6.666584%
Class B-5     5,250,582.74     0.50005041%     5,250,582.74     0.55772976%       0.278834%        5.555487%
Class B-6             0.00     0.00000000%             0.00     0.00000000%       0.557730%       11.112207%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

            DELINQUENT

GROUP ONE

<TABLE>
<CAPTION>
               No. of       Principal
               Loans         Balance
<S>           <C>         <C>
0-29 Days            0            0.00
30 Days             25    7,975,514.90
60 Days              0            0.00
90 Days              0            0.00
120 Days             1      385,500.00
150 Days             0            0.00
180+ Days            0            0.00
              --------    ------------
                    26    8,361,014.90

               No. of       Principal
               Loans         Balance

0-29 Days     0.000000%       0.000000%
30 Days       1.748252%       1.693524%
60 Days       0.000000%       0.000000%
90 Days       0.000000%       0.000000%
120 Days      0.069930%       0.081857%
150 Days      0.000000%       0.000000%
180+ Days     0.000000%       0.000000%
              --------    ------------
              1.818182%       1.775381%
</TABLE>

              BANKRUPTCY

<TABLE>
<CAPTION>
               No. of       Principal
               Loans         Balance
<S>           <C>         <C>
0-29 Days            0            0.00
30 Days             25    7,975,514.90
60 Days              0            0.00
90 Days              0            0.00
120 Days             1      385,500.00
150 Days             0            0.00
180+ Days            0            0.00
              --------    ------------
                    26    8,361,014.90

               No. of       Principal
               Loans         Balance

0-29 Days     0.000000%       0.000000%
30 Days       1.748252%       1.693524%
60 Days       0.000000%       0.000000%
90 Days       0.000000%       0.000000%
120 Days      0.069930%       0.081857%
150 Days      0.000000%       0.000000%
180+ Days     0.000000%       0.000000%
              --------    ------------
              1.818182%       1.775381%
</TABLE>

              FORECLOSURE

<TABLE>
<CAPTION>
               No. of       Principal
               Loans         Balance
<S>           <C>         <C>
0-29 Days            0            0.00
30 Days             25    7,975,514.90
60 Days              0            0.00
90 Days              0            0.00
120 Days             1      385,500.00
150 Days             0            0.00
180+ Days            0            0.00
              --------    ------------
                    26    8,361,014.90

               No. of       Principal
               Loans         Balance

0-29 Days     0.000000%       0.000000%
30 Days       1.748252%       1.693524%
60 Days       0.000000%       0.000000%
90 Days       0.000000%       0.000000%
120 Days      0.069930%       0.081857%
150 Days      0.000000%       0.000000%
180+ Days     0.000000%       0.000000%
              --------    ------------
              1.818182%       1.775381%
</TABLE>

                REO

<TABLE>
<CAPTION>
               No. of       Principal
               Loans         Balance
<S>           <C>         <C>
0-29 Days        0                0.00
30 Days         25        7,975,514.90
60 Days          0                0.00
90 Days          0                0.00
120 Days         1          385,500.00
150 Days         0                0.00
180+ Days        0                0.00
              --------    ------------
                26        8,361,014.90

               No. of       Principal
               Loans         Balance

0-29 Days     0.000000%       0.000000%
30 Days       1.748252%       1.693524%
60 Days       0.000000%       0.000000%
90 Days       0.000000%       0.000000%
120 Days      0.069930%       0.081857%
150 Days      0.000000%       0.000000%
180+ Days     0.000000%       0.000000%
              --------    ------------
              1.818182%       1.775381%
</TABLE>

               TOTAL

<TABLE>
<CAPTION>
               No. of       Principal
               Loans         Balance
<S>           <C>         <C>
0-29 Days        0                0.00
30 Days         25        7,975,514.90
60 Days          0                0.00
90 Days          0                0.00
120 Days         1          385,500.00
150 Days         0                0.00
180+ Days        0                0.00
              --------    ------------
                26        8,361,014.90

               No. of       Principal
               Loans         Balance

0-29 Days     0.000000%       0.000000%
30 Days       1.748252%       1.693524%
60 Days       0.000000%       0.000000%
90 Days       0.000000%       0.000000%
120 Days      0.069930%       0.081857%
150 Days      0.000000%       0.000000%
180+ Days     0.000000%       0.000000%
              --------    ------------
              1.818182%       1.775381%
</TABLE>

               DELINQUENT

<TABLE>
<CAPTION>
                No. of      Principal
                Loans       Balance
<S>            <C>         <C>
0-29 Days             0            0.00
30 Days              13    4,822,536.10
60 Days               0            0.00
90 Days               0            0.00
120 Days              0            0.00
150 Days              0            0.00
180+ Days             0            0.00
               --------    ------------
                     13    4,822,536.10

                No. of      Principal
                Loans       Balance

0-29 Days      0.000000%       0.000000%
30 Days        1.895044%       2.030890%
60 Days        0.000000%       0.000000%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------    ------------
               1.895044%       2.030890%
</TABLE>

            BANKRUPTCY
            1.183654%

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

              No. of      Principal
              Loans       Balance

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

            FORECLOSURE

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

             No. of     Principal
             Loans       Balance

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

              REO

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

             No. of    Principal
             Loans      Balance

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

             TOTAL

<TABLE>
<CAPTION>
             No. of      Principal
             Loans        Balance
<S>          <C>          <C>
0-29 Days           0            0.00
30 Days            13    4,822,536.10
60 Days             0            0.00
90 Days             0            0.00
120 Days            0            0.00
150 Days            0            0.00
180+ Days           0            0.00
             --------    ------------
                   13    4,822,536.10

             No. of        Principal
              Loans        Balance

0-29 Days    0.000000%       0.000000%
30 Days      1.895044%       2.030890%
60 Days      0.000000%       0.000000%
90 Days      0.000000%       0.000000%
120 Days     0.000000%       0.000000%
150 Days     0.000000%       0.000000%
180+ Days    0.000000%       0.000000%
             --------    ------------
             1.895044%       2.030890%
</TABLE>
<PAGE>

                      DELINQUENT

GROUP THREE

<TABLE>
<CAPTION>
                      No. of            Principal
                      Loans              Balance
<S>                  <C>            <C>
0-29 Days                   0                    0.00
30 Days                    14            6,725,697.78
60 Days                     0                    0.00
90 Days                     1              101,600.00
120 Days                    0                    0.00
150 Days                    0                    0.00
180+ Days                   0                    0.00
                     --------       -----------------
                           15            6,827,297.78

                      No. of            Principal
                      Loans              Balance

0-29 Days            0.000000%               0.000000%
30 Days              1.815824%               2.886289%
60 Days              0.000000%               0.000000%
90 Days              0.129702%               0.043601%
120 Days             0.000000%               0.000000%
150 Days             0.000000%               0.000000%
180+ Days            0.000000%               0.000000%
                     --------       -----------------
                     1.945525%               2.929890%
</TABLE>

                 BANKRUPTCY
                 1.183654%

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

                   No. of         Principal
                    Loans          Balance

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

                  FORECLOSURE

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

                    No. of          Principal
                    Loans            Balance

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

                     REO

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

                    No. of         Principal
                    Loans           Balance

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

                    TOTAL

<TABLE>
<CAPTION>
                     No. of            Principal
                     Loans              Balance
<S>                <C>             <C>
0-29 Days                 0                     0.00
30 Days                  14             6,725,697.78
60 Days                   0                     0.00
90 Days                   1               101,600.00
120 Days                  0                     0.00
150 Days                  0                     0.00
180+ Days                 0                     0.00
                   --------        -----------------
                         15             6,827,297.78

                    No. of             Principal
                    Loans               Balance

0-29 Days          0.000000%                0.000000%
30 Days            1.815824%                2.886289%
60 Days            0.000000%                0.000000%
90 Days            0.129702%                0.043601%
120 Days           0.000000%                0.000000%
150 Days           0.000000%                0.000000%
180+ Days          0.000000%                0.000000%
                   --------        -----------------
                   1.945525%                2.929890%
</TABLE>
<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                     Mixed Arm
<S>                                                     <C>
Weighted Average Gross Coupon                                 4.199894%
Weighted Average Net Coupon                                   3.823267%
Weighted Average Pass-Through Rate                            3.817767%
Weighted Average Maturity (Stepdown Calculation)                   336

Beginning Scheduled Collateral Loan Count                        2,945
Number of Loans Paid in Full                                        58
Ending Scheduled Collateral Loan Count                           2,887

Beginning Scheduled Collateral Balance                  965,490,217.86
Ending Scheduled Collateral Balance                     941,420,574.90
Ending Actual Collateral Balance at 31-Jan-2005         941,423,480.62

Monthly P&I Constant                                      3,379,130.38
Special Servicing Fee                                             0.00
Prepayment Penalties                                              0.00
Realization Loss Amount                                           0.00
Cumulative Realized Loss                                          0.00

Class A Optimal Amount                                   26,990,993.86

Scheduled Principal                                               0.00
Unscheduled Principal                                    24,069,642.96
</TABLE>

MISCELLANEOUS REPORTING

Rapid Prepayment Event                                  NO

<PAGE>

<TABLE>
<CAPTION>
         GROUP                        GROUP ONE           GROUP TWO         GROUP THREE             TOTAL
Collateral Description            6 Month LIBOR ARM       Mixed ARM      6 Month LIBOR ARM        Mixed ARM
<S>                               <C>                  <C>               <C>                   <C>
Weighted Average Coupon Rate               4.211372          4.122907             4.254471           4.199894
Weighted Average Net Rate                  3.834495          3.746911             3.877707           3.823267
Pass-Through Rate                          3.828995          3.741411             3.872208           3.817767
Weighted Average Maturity                       335               333                  341                336
Record Date                              01/31/2005        01/31/2005           01/31/2005         01/31/2005
Principal and Interest Constant        1,691,292.15        833,664.14           854,174.09       3,379,130.38
Beginning Loan Count                          1,454               702                  789              2,945
Loans Paid in Full                               24                16                   18                 58
Ending Loan Count                             1,430               686                  771              2,887
Beginning Scheduled Balance          481,921,522.76    242,643,581.16       240,925,113.94     965,490,217.86
Ending Scheduled Balance             470,941,029.31    237,458,628.55       233,020,917.04     941,420,574.90
Scheduled Principal                            0.00              0.00                 0.00               0.00
Unscheduled Principal                 10,980,493.45      5,184,952.61         7,904,196.90      24,069,642.96
Scheduled Interest                     1,691,292.15        833,664.14           854,174.09       3,379,130.38
Servicing Fee                            151,354.14         76,027.63            75,643.16         303,024.93
Master Servicing Fee                       2,208.81          1,112.12             1,104.24           4,425.17
Trustee Fee                                    0.00              0.00                 0.00               0.00
FRY Amount                                     0.00              0.00                 0.00               0.00
Special Hazard Fee                             0.00              0.00                 0.00               0.00
Other Fee                                      0.00              0.00                 0.00               0.00
Pool Insurance Fee                             0.00              0.00                 0.00               0.00
Spread 1                                       0.00              0.00                 0.00               0.00
Spread 2                                       0.00              0.00                 0.00               0.00
Spread 3                                       0.00              0.00                 0.00               0.00
Net Interest                           1,537,729.20        756,524.39           777,426.69       3,071,680.28
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

Principal Transfer Amount                                                  0.00
Pro-Rata Senior Percent                                               95.122649%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
Interest Transfer Amount                                                   0.00

Group Two

One-Month LIBOR Loan Balance                                     166,143,485.39
Six-Month LIBOR Loan Balance                                      71,315,143.16
Principal Transfer Amount                                                  0.00
Pro-Rata Senior Percent                                               95.104452%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
Interest Transfer Amount                                                   0.00

Group Three

Principal Transfer Amount                                                  0.00
Pro-Rate Senior Percent                                               95.074468%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
Interest Transfer Amount                                                   0.00
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}]]