Document:

<PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2003-2
                         RECORD DATE: NOVEMBER 28, 2003
                      DISTRIBUTION DATE: DECEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                      Certificate                            Beginning
                         Class          Certificate         Certificate       Interest         Principal
Class      CUSIP      Description    Pass-Through Rate        Balance       Distribution     Distribution
---------------------------------------------------------------------------------------------------------
<S>      <C>          <C>            <C>                  <C>               <C>              <C>
 A-1     81743PAP1        SEN             1.45000%        464,900,765.62      561,755.09     4,793,980.72
 A-2     81743PAQ9        SEN             1.54625%        276,789,032.30      356,654.20       616,228.54
 M-1     81743PAR7        SUB             1.77000%         11,480,000.00       16,933.00             0.00
 M-2     81743PAS5        SUB             2.55000%          4,920,000.00       10,455.00             0.00
  X      SMT03002X         IO             0.00000%                  0.00      703,026.31             0.00
  R      SMT03002R        SUB             0.00000%                  0.00            0.00             0.00
         ------------------------------------------------------------------------------------------------
Totals                                                    758,089,797.92    1,648,823.60     5,410,209.26
---------------------------------------------------------------------------------------------------------

<CAPTION>
                      Certificate
                         Class          Current       Ending Certificate       Total         Cumulative
Class      CUSIP      Description    Realized Loss          Balance         Distribution    Realized Loss
---------------------------------------------------------------------------------------------------------
<S>      <C>          <C>            <C>              <C>                   <C>             <C>
 A-1     81743PAP1        SEN             0.00          460,106,784.90      5,355,735.81        0.00
 A-2     81743PAQ9        SEN             0.00          276,172,803.76        972,882.74        0.00
 M-1     81743PAR7        SUB             0.00           11,480,000.00         16,933.00        0.00
 M-2     81743PAS5        SUB             0.00            4,920,000.00         10,455.00        0.00
  X      SMT03002X         IO             0.00                    0.00        703,026.31        0.00
  R      SMT03002R        SUB             0.00                    0.00              0.00        0.00
         ------------------------------------------------------------------------------------------------
Totals                                    0.00          752,679,588.66      7,059,032.86        0.00
---------------------------------------------------------------------------------------------------------
</TABLE>

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

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                             Beginning         Scheduled     Unscheduled
         Original Face      Certificate        Principal      Principal                   Realized
Class        Amount           Balance        Distribution    Distribution    Accretion    Loss (1)
--------------------------------------------------------------------------------------------------
<S>      <C>               <C>               <C>             <C>             <C>          <C>
 A-1     500,000,000.00    464,900,765.62        0.00        4,793,980.72       0.00        0.00
 A-2     303,600,000.00    276,789,032.30        0.00          616,228.54       0.00        0.00
 M-1      11,480,000.00     11,480,000.00        0.00                0.00       0.00        0.00
 M-2       4,920,000.00      4,920,000.00        0.00                0.00       0.00        0.00
  X                0.00              0.00        0.00                0.00       0.00        0.00
  R                0.00              0.00        0.00                0.00       0.00        0.00
         -----------------------------------------------------------------------------------------
Totals   820,000,000.00    758,089,797.92        0.00        5,410,209.26       0.00        0.00
--------------------------------------------------------------------------------------------------

<CAPTION>
         Total Principal    Ending Certificate    Ending Certificate    Total Principal
Class       Reduction             Balance             Percentage          Distribution
---------------------------------------------------------------------------------------
<S>      <C>                <C>                   <C>                   <C>
 A-1      4,793,980.72        460,106,784.90          0.92021357         4,793,980.72
 A-2        616,228.54        276,172,803.76          0.90966009           616,228.54
 M-1              0.00         11,480,000.00          1.00000000                 0.00
 M-2              0.00          4,920,000.00          1.00000000                 0.00
  X               0.00                  0.00          0.00000000                 0.00
  R               0.00                  0.00          0.00000000                 0.00
         ------------------------------------------------------------------------------
Totals    5,410,209.26        752,679,588.66          0.91790194         5,410,209.26
---------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                              Beginning       Scheduled       Unscheduled
         Original Face       Certificate      Principal        Principal                    Realized
Class       Amount             Balance       Distribution    Distribution     Accretion     Loss (3)
-----------------------------------------------------------------------------------------------------
<S>      <C>                <C>              <C>             <C>             <C>           <C>
 A-1     500,000,000.00      929.80153124     0.00000000      9.58796144     0.00000000    0.00000000
 A-2     303,600,000.00      911.68982971     0.00000000      2.02973827     0.00000000    0.00000000
 M-1      11,480,000.00     1000.00000000     0.00000000      0.00000000     0.00000000    0.00000000
 M-2       4,920,000.00     1000.00000000     0.00000000      0.00000000     0.00000000    0.00000000
  X                0.00        0.00000000     0.00000000      0.00000000     0.00000000    0.00000000
  R                0.00        0.00000000     0.00000000      0.00000000     0.00000000    0.00000000
-----------------------------------------------------------------------------------------------------

<CAPTION>
              Total           Ending          Ending
            Principal      Certificate     Certificate    Total Principal
Class       Reduction        Balance        Percentage     Distribution
-------------------------------------------------------------------------
<S>         <C>           <C>              <C>            <C>
 A-1        9.58796144     920.21356980     0.92021357      9.58796144
 A-2        2.02973827     909.66009114     0.90966009      2.02973827
 M-1        0.00000000    1000.00000000     1.00000000      0.00000000
 M-2        0.00000000    1000.00000000     1.00000000      0.00000000
  X         0.00000000       0.00000000     0.00000000      0.00000000
  R         0.00000000       0.00000000     0.00000000      0.00000000
-------------------------------------------------------------------------
</TABLE>

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

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                  Beginning                     Payment of
                                                 Certificate/      Current        Unpaid      Current      Non-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      500,000,000.00        1.45000%        464,900,765.62    561,755.09       0.00         0.00            0.00          0.00
 A-2      303,600,000.00        1.54625%        276,789,032.30    356,654.20       0.00         0.00            0.00          0.00
 M-1       11,480,000.00        1.77000%         11,480,000.00     16,933.00       0.00         0.00            0.00          0.00
 M-2        4,920,000.00        2.55000%          4,920,000.00     10,455.00       0.00         0.00            0.00          0.00
  X                 0.00        0.00000%        758,089,797.92          0.00       0.00         0.00            0.00          0.00
  R                 0.00        0.00000%                  0.00          0.00       0.00         0.00            0.00          0.00
          --------------------------------------------------------------------------------------------------------------------------
Totals    820,000,000.00                                          945,797.29       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             561,755.09        0.00       460,106,784.90
 A-2             356,654.20        0.00       276,172,803.76
 M-1              16,933.00        0.00        11,480,000.00
 M-2              10,455.00        0.00         4,920,000.00
  X              703,026.31        0.00       752,679,588.66
  R                    0.00        0.00                 0.00
          --------------------------------------------------
Totals         1,648,823.60        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
             Original Face    Certificate      Certificate/     Current Accrued    Interest     Interest      Interest     Realized
Class (5)        Amount          Rate        Notional Balance       Interest       Shortfall    Shortfall    Shortfall     Loss (6)
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>              <C>            <C>                <C>               <C>           <C>          <C>          <C>
   A-1       500,000,000.00    1.45000%        929.80153124        1.12351018     0.00000000    0.00000000   0.00000000   0.00000000
   A-2       303,600,000.00    1.54625%        911.68982971        1.17475033     0.00000000    0.00000000   0.00000000   0.00000000
   M-1        11,480,000.00    1.77000%       1000.00000000        1.47500000     0.00000000    0.00000000   0.00000000   0.00000000
   M-2         4,920,000.00    2.55000%       1000.00000000        2.12500000     0.00000000    0.00000000   0.00000000   0.00000000
    X                  0.00    0.00000%        924.49975356        0.00000000     0.00000000    0.00000000   0.00000000   0.00000000
    R                  0.00    0.00000%          0.00000000        0.00000000     0.00000000    0.00000000   0.00000000   0.00000000
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                               Remaining
                                Unpaid
             Total Interest     Interest     Ending Certificate/
Class (5)     Distribution     Shortfall     Notational Balance
----------------------------------------------------------------
<S>          <C>               <C>           <C>
   A-1         1.12351018      0.00000000        920.21356980
   A-2         1.17475033      0.00000000        909.66009144
   M-1         1.47500000      0.00000000       1000.00000000
   M-2         2.12500000      0.00000000       1000.00000000
    X          0.85734916      0.00000000        917.90193739
    R          0.00000000      0.00000000          0.00000000
----------------------------------------------------------------
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                      7,290,238.75
         Liquidations, Insurance Proceeds, Reserve Funds                 0.00
         Proceeds from Repurchased Loans                                 0.00
         Other Amounts (Servicer Advances)                          19,902.64
         Realized Losses                                                 0.00
         Prepayment Penalties                                            0.00
                                                                 ------------
Total Deposits                                                   7,310,141.39

Withdrawals
         Reimbursement for Servicer Advances                         7,819.78
         Payment of Service Fee                                    243,288.75
         Payment of Interest and Principal                       7,059,032.86
                                                                 ------------
Total Withdrawals (Pool Distribution Amount)                     7,310,141.39

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                                           238,854.57
Master Servicing Fee                                            4,434.18
Supported Prepayment/Curtailment Interest Shortfall                 0.00
                                                              ----------

Net Servicing Fee                                             243,288.75
                                                              ==========
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
              Beginning     Current     Current    Ending
Account Type   Balance    Withdrawals  Deposits    Balance
-----------------------------------------------------------
<S>           <C>         <C>          <C>        <C>
Reserve Fund  10,000.00      0.00        0.00     10,000.00
-----------------------------------------------------------
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
           DELINQUENT                             BANKRUPTCY                          FORECLOSURE
----------------------------------------------------------------------------------------------------------
             No. of     Principal                  No. of    Principal                 No. of    Principal
             Loans       Balance                   Loans      Balance                  Loans      Balance
<S>        <C>         <C>           <C>         <C>         <C>         <C>         <C>         <C>
0-29 Days      0               0.00  0-29 Days       0          0.00     0-29 Days       0          0.00
30 Days       24       6,509,639.85  30 Days         0          0.00     30 Days         0          0.00
60 Days        2       1,983,999.99  60 Days         0          0.00     60 Days         0          0.00
90 Days        1         199,400.00  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
           ---------   ------------              ---------   -------                 --------    -------
              27       8,692,939.84                  0          0.00                     0          0.00

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

0-29 Days  0.000000%    0.000000%    0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days    1.144492%    0.862499%    30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days    0.095374%    0.262875%    60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days    0.047687%    0.026420%    90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days   0.000000%    0.000000%    120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days   0.000000%    0.000000%    150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days  0.000000%    0.000000%    180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
           --------    ---------                 --------    --------                --------    --------
           1.287554%    1.151795%                0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                REO                                 TOTAL
------------------------------------------------------------------------
              No. of    Principal                 No. of     Principal
              Loans      Balance                  Loans       Balance
<S>         <C>         <C>         <C>         <C>         <C>
0-29 Days       0          0.00     0-29 Days       0               0.00
30 Days         0          0.00     30 Days        24       6,509,639.85
60 Days         0          0.00     60 Days         2       1,983,999.99
90 Days         0          0.00     90 Days         1         199,400.00
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                    27       8,692,939.84

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days     0.000000%   0.000000%   30 Days     1.144492%    0.862499%
60 Days     0.000000%   0.000000%   60 Days     0.095374%    0.262875%
90 Days     0.000000%   0.000000%   90 Days     0.047687%    0.026420%
120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
            --------    --------                --------    ---------
            0.000000%   0.000000%               1.287554%    1.151795%
</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  19,902.64
</TABLE>

<PAGE>

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
                                     GROUP 1
----------------------------------------------------------------------------------------------------------
            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        16      3,891,646.10  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        199,400.00  90 Days         0          0.00     90 Days         0          0.00
120 Days        0              0.00  120 Days        0          0.00     120 Days        0          0.00
150 Days        0              0.00  150 Days        0          0.00     150 Days        0          0.00
180+ Days       0              0.00  180+ Days       0          0.00     180+ Days       0          0.00
            --------   ------------               -------    --------                  -----      -------
               17      4,091,046.10                  0          0.00                     0          0.00

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

0-29 Days   0.000000%    0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     1.267829%    0.825605%   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     0.079239%    0.042302%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%    0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%    0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%    0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    ---------                --------    --------                --------    --------
            1.347068%    0.867907%               0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                               GROUP 1
-------------------------------------------------------------------------
                  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        16       3,891,646.10
60 Days          0          0.00     60 Days         0               0.00
90 Days          0          0.00     90 Days         1         199,400.00
120 Days         0          0.00     120 Days        0               0.00
150 Days         0          0.00     150 Days        0               0.00
180+ Days        0          0.00     180+ Days       0               0.00
             --------    --------                --------    ------------
                 0          0.00                    17       4,091,046.10

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

0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days      0.000000%   0.000000%   30 Days     1.267829%    0.825605%
60 Days      0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days      0.000000%   0.000000%   90 Days     0.079239%    0.042302%
120 Days     0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days     0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days    0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
             --------    --------                --------    ---------
             0.000000%   0.000000%               1.347068%    0.867907%
</TABLE>

<TABLE>
<CAPTION>
                                     GROUP 2
----------------------------------------------------------------------------------------------------------
             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         8     2,617,893.75   30 Days         0          0.00     30 Days         0         0.00
60 Days         2     1,983,999.99   60 Days         0          0.00     60 Days         0         0.00
90 Days         0             0.00   90 Days         0          0.00     90 Days         0         0.00
120 Days        0             0.00   120 Days        0          0.00     120 Days        0         0.00
150 Days        0             0.00   150 Days        0          0.00     150 Days        0         0.00
180+ Days       0             0.00   180+ Days       0          0.00     180+ Days       0         0.00
            --------  ------------               --------    --------                --------    --------
               10     4,601,893.74                   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     0.958084%   0.923872%    30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.239521%   0.700167%    60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%    90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%    120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%    150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%    180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------   ---------                 --------    --------                --------    --------
            1.197605%   1.624039%                0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                                GROUP 2
------------------------------------------------------------------------
               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         8       2,617,893.75
60 Days         0         0.00      60 Days         2       1,983,999.99
90 Days         0         0.00      90 Days         0               0.00
120 Days        0         0.00      120 Days        0               0.00
150 Days        0         0.00      150 Days        0               0.00
180+ Days       0         0.00      180+ Days       0               0.00
             -------   ---------                 -------    ------------
                0         0.00                     10       4,601,893.74

              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     0.958084%    0.923872%
60 Days     0.000000%   0.000000%   60 Days     0.239521%    0.700167%
90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
            --------    --------                --------     --------
            0.000000%   0.000000%               1.197605%    1.624039%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                               Mixed Arm
<S>                                                               <C>
Weighted Average Gross Coupon                                           2.986996%
Weighted Average Net Coupon                                             2.609927%
Weighted Average Pass-Through Rate                                      2.602927%
Weighted Average Maturity (Stepdown Calculation)                             325

Beginning Scheduled Collateral Loan Count                                  2,111
Number of Loans Paid in Full                                                  14
Ending Scheduled Collateral Loan Count                                     2,097

Beginning Scheduled Collateral Balance                            760,139,797.92
Ending Scheduled Collateral Balance                               754,729,588.66
Ending Actual Collateral Balance at 28-Nov-2003                   754,730,053.52

Monthly P&I Constant                                                1,892,112.34
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realized Loss Amount                                                        0.00
Cumulative Realized Loss                                                    0.00

Ending Scheduled Balance for Premium Loans                        754,729,588.66

Scheduled Principal                                                         0.00
Unscheduled Principal                                               5,410,209.26

Required Overcollateralized Amount                                          0.00
Overcollateralized Increase Amount                                          0.00
Overcollateralized Reduction Amount                                         0.00
Specified O/C Amount                                                2,050,000.00
Overcollateralized Amount                                           2,050,000.00
Overcollateralized Deficiency Amount                                        0.00
Base Overcollateralization Amount                                           0.00

Extra Principal Distribution Amount                                         0.00
Excess Cash Amount                                                    703,026.31
</TABLE>

<PAGE>

<TABLE>
<S>                                                              <C>
MISCELLANEOUS REPORTING

M-1 Target Amount                                                741,899,185.65
M-2 Target Amount                                                750,955,940.72
Senior Target Amount                                             720,766,757.17

Group 1 - One-Month LIBOR Loans                                  138,990,839.60
Group 1 - Six-Month LIBOR Loans                                  332,378,078.70
Group 2 - Six Month LIBOR Loans                                  283,360,670.36
Applied Loss Amountn                                                          0
</TABLE>

<TABLE>
<CAPTION>

             GROUP                               1                  2                   TOTAL
    Collateral Description                    Mixed ARM        6 Month ARM            Mixed ARM
<S>                                        <C>               <C>                   <C>
Weighted Average Coupon Rate                     2.957688          3.036140              2.986996
Weighted Average Net Rate                        2.580854          2.658676              2.609927
Pass-Through Rate                                2.573854          2.651676              2.602927
Weighted Average Maturity                             319               332                   325
Record Date                                    11/28/2003        11/28/2003            11/28/2003
Principal and Interest Constant              1,173,617.58        718,494.76          1,892,112.34
Beginning Loan Count                                1,274               837                 2,111
Loans Paid in Full                                     12                 2                    14
Ending Loan Count                                   1,262               835                 2,097
Beginning Scheduled Balance                476,162,899.02    283,976,898.90        760,139,797.92
Ending Scheduled Balance                   471.368,918.30    283,360,670.36        754,729,588.66
Scheduled Principal                                  0.00              0.00                  0.00
Unscheduled Principal                        4,793,980.72        616,228.54          5,410,209.26
Scheduled Interest                           1,173,617.58        718,494.76          1,892,112.34
Servicing Fee                                  149,528.55         89,326.02            238,854.57
Master Servicing Fee                             2,777.64          1,656.54              4,434.18
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                                 1,021,311.39        627,512.20          1,648,823.59
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>

                                  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 2003-3
                         RECORD DATE: NOVEMBER 28, 2003
                      DISTRIBUTION DATE: DECEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate                           Beginning
                                 Class         Certificate Pass-   Certificate        Interest
  Class           CUSIP       Description        Through Rate        Balance        Distribution
------------------------------------------------------------------------------------------------
<S>             <C>           <C>              <C>               <C>                <C>
    A-1         81743PAT3         SEN               1.45000%     361,968,692.11      437,378.83
    A-2         81743PAU0         SEN               1.34000%     142,372,192.62      158,982.28
   X-1A         81743PAV8          IO               0.93526%               0.00       77,083.07
   X-1B         81743PAW6          IO               1.20509%               0.00      264,182.22
    X-2         81743PAX4          IO               1.30269%               0.00      154,555.10
    X-B         81743PAY2          IO               0.82873%               0.00        6,267.28
    A-R         81743PBA3          R                2.42138%               0.00            0.00
    B-1         81743PBB1         SUB               1.77000%       9,075,000.00       13,385.62
    B-2         81743PBC9         SUB               2.59873%       4,675,000.00       10,124.23
    B-3         81743PBD7         SUB               2.59873%       2,475,000.00        5,359.88
    B-4         81743PBE5         SUB               2.59873%       1,650,000.00        3,573.26
    B-5         81743PBF2         SUB               2.59873%         825,000.00        1,786.63
    B-6         81743PBG0         SUB               2.59873%       1,925,608.17        4,170.12
-----------------------------------------------------------------------------------------------
Totals                                                           524,966,492.90    1,136,848.52
-----------------------------------------------------------------------------------------------

<CAPTION>
                              Principal           Current        Ending Certificate      Total            Cumulative
  Class           CUSIP      Distribution      Realized Loss          Balance         Distribution       Realized Loss
----------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>               <C>               <C>                  <C>                <C>
    A-1         81743PAT3    4,434,275.50            0.00         357,534,416.61      4,871,654.33             0.00
    A-2         81743PAU0    1,283,519.85            0.00         141,088,672.77      1,442,502.13             0.00
   X-1A         81743PAV8            0.00            0.00                   0.00         77,083.07             0.00
   X-1B         81743PAW6            0.00            0.00                   0.00        264,182.22             0.00
    X-2         81743PAX4            0.00            0.00                   0.00        154,555.10             0.00
    X-B         81743PAY2            0.00            0.00                   0.00          6,267.28             0.00
    A-R         81743PBA3            0.00            0.00                   0.00              0.00             0.00
    B-1         81743PBB1            0.00            0.00           9,075,000.00         13,385.62             0.00
    B-2         81743PBC9            0.00            0.00           4,675,000.00         10,124.23             0.00
    B-3         81743PBD7            0.00            0.00           2,475,000.00          5,359.88             0.00
    B-4         81743PBE5            0.00            0.00           1,650,000.00          3,573.26             0.00
    B-5         81743PBF2            0.00            0.00             825,000.00          1,786.63             0.00
    B-6         81743PBG0            0.00            0.00           1,925,608.17          4,170.12             0.00
-------------------------------------------------------------------------------------------------------------------
Totals                       5,717,795.35            0.00         519,248,697.55      6,854,643.87             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
 Class                 Amount               Balance                    Distribution     Distribution       Accretion
--------------------------------------------------------------------------------------------------------------------
<S>                 <C>                  <C>                           <C>              <C>                <C>
   A-1              379,455,000.00       361,968,692.11                     0.00        4,434,275.50          0.00
   A-2              149,922,000.00       142,372,192.62                     0.00        1,283,519.85          0.00
  X-1A                        0.00                 0.00                     0.00                0.00          0.00
  X-1B                        0.00                 0.00                     0.00                0.00          0.00
   X-2                        0.00                 0.00                     0.00                0.00          0.00
   X-B                        0.00                 0.00                     0.00                0.00          0.00
   A-R                      100.00                 0.00                     0.00                0.00          0.00
   B-1                9,075,000.00         9,075,000.00                     0.00                0.00          0.00
   B-2                4,675,000.00         4,675,000.00                     0.00                0.00          0.00
   B-3                2,475,000.00         2,475,000.00                     0.00                0.00          0.00
   B-4                1,650,000.00         1,650,000.00                     0.00                0.00          0.00
   B-5                  825,000.00           825,000.00                     0.00                0.00          0.00
   B-6                1,925,608.17         1,925,608.17                     0.00                0.00          0.00
------------------------------------------------------------------------------------------------------------------
Totals              550,002,708.17       524,966,492.90                     0.00        5,717,795.35          0.00
------------------------------------------------------------------------------------------------------------------

<CAPTION>
                        Realized     Total Principal      Ending Certificate        Ending Certificate     Total Principal
 Class                  Loss (1)        Reduction               Balance                  Percentage          Distribution
--------------------------------------------------------------------------------------------------------------------------
<S>                     <C>          <C>                  <C>                       <C>                    <C>
   A-1                     0.00        4,434,275.50          357,534,416.61              0.94223140          4,434,275.50
   A-2                     0.00        1,283,519.85          141,088,672.77              0.94108051          1,283,519.85
  X-1A                     0.00                0.00                    0.00              0.00000000                  0.00
  X-1B                     0.00                0.00                    0.00              0.00000000                  0.00
   X-2                     0.00                0.00                    0.00              0.00000000                  0.00
   X-B                     0.00                0.00                    0.00              0.00000000                  0.00
   A-R                     0.00                0.00                    0.00              0.00000000                  0.00
   B-1                     0.00                0.00            9,075,000.00              1.00000000                  0.00
   B-2                     0.00                0.00            4,675,000.00              1.00000000                  0.00
   B-3                     0.00                0.00            2,475,000.00              1.00000000                  0.00
   B-4                     0.00                0.00            1,650,000.00              1.00000000                  0.00
   B-5                     0.00                0.00              825,000.00              1.00000000                  0.00
   B-6                     0.00                0.00            1,925,608.17              1.00000000                  0.00
-------------------------------------------------------------------------------------------------------------------------
Totals                     0.00        5,717,795.35          519,248,697.55              0.94408389          5,717,795.35
-------------------------------------------------------------------------------------------------------------------------
</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
  Class                 Amount                  Balance               Distribution      Distribution       Accretion
---------------------------------------------------------------------------------------------------------------------
<S>                  <C>                     <C>                       <C>              <C>                <C>
   A-1               379,455,000.00           953.91730801             0.00000000        11.68590610       0.00000000
   A-2               149,922,000.00           949.64176562             0.00000000         8.56125085       0.00000000
  X-1A                         0.00             0.00000000             0.00000000         0.00000000       0.00000000
  X-1B                         0.00             0.00000000             0.00000000         0.00000000       0.00000000
   X-2                         0.00             0.00000000             0.00000000         0.00000000       0.00000000
   X-B                         0.00             0.00000000             0.00000000         0.00000000       0.00000000
   A-R                       100.00             0.00000000             0.00000000         0.00000000       0.00000000
   B-1                 9,075,000.00          1000.00000000             0.00000000         0.00000000       0.00000000
   B-2                 4,675,000.00          1000.00000000             0.00000000         0.00000000       0.00000000
   B-3                 2,475,000.00          1000.00000000             0.00000000         0.00000000       0.00000000
   B-4                 1,650,000.00          1000.00000000             0.00000000         0.00000000       0.00000000
   B-5                   825,000.00          1000.00000000             0.00000000         0.00000000       0.00000000
   B-6                 1,925,608.17          1000.00000000             0.00000000         0.00000000       0.00000000

<CAPTION>
             Realized                Total Principal              Ending Certificate      Ending Certificate     Total Principal
  Class      Loss (3)                   Reduction                      Balance                Percentage           Distribution
--------------------------------------------------------------------------------------------------------------------------------
<S>         <C>                      <C>                          <C>                     <C>                    <C>
   A-1      0.00000000                 11.68590610                    942.23140191             0.94223140          11.68590610
   A-2      0.00000000                  8.56125085                    941.08051367             0.94108051           8.56125085
  X-1A      0.00000000                  0.00000000                      0.00000000             0.00000000           0.00000000
  X-1B      0.00000000                  0.00000000                      0.00000000             0.00000000           0.00000000
   X-2      0.00000000                  0.00000000                      0.00000000             0.00000000           0.00000000
   X-B      0.00000000                  0.00000000                      0.00000000             0.00000000           0.00000000
   A-R      0.00000000                  0.00000000                      0.00000000             0.00000000           0.00000000
   B-1      0.00000000                  0.00000000                   1000.00000000             1.00000000           0.00000000
   B-2      0.00000000                  0.00000000                   1000.00000000             1.00000000           0.00000000
   B-3      0.00000000                  0.00000000                   1000.00000000             1.00000000           0.00000000
   B-4      0.00000000                  0.00000000                   1000.00000000             1.00000000           0.00000000
   B-5      0.00000000                  0.00000000                   1000.00000000             1.00000000           0.00000000
   B-6      0.00000000                  0.00000000                   1000.00000000             1.00000000           0.00000000
</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
                                                          Certificate/            Current           Unpaid          Current
                   Original Face          Current          Notional               Accrued          Interest         Interest
     Class             Amount         Certificate Rate      Balance              Interest          Shortfall       Shortfall
----------------------------------------------------------------------------------------------------------------------------
<S>               <C>                 <C>                <C>                   <C>                <C>              <C>
      A-1          379,455,000.00          1.45000%      361,968,692.11          437,378.84           0.00            0.00
      A-2          149,922,000.00          1.34000%      143,372,192.62          158,982.28           0.00            0.00
     X-1A                    0.00          0.93526%       98,902,597.89           77,083.07           0.00            0.00
     X-1B                    0.00          1.20509%      263,066,094.22          264,182.22           0.00            0.00
      X-2                    0.00          1.30269%      142,372,192.62          154,555.10           0.00            0.00
      X-B                    0.00          0.82873%        9,075,000.00            6,267.28           0.00            0.00
      A-R                  100.00          2.42138%                0.00                0.00           0.00            0.00
      B-1            9,075,000.00          1.77000%        9,075,000.00           13,385.63           0.00            0.00
      B-2            4,675,000.00          2.59873%        4,675,000.00           10,124.23           0.00            0.00
      B-3            2,475,000.00          2.59873%        2,475,000.00            5,359.88           0.00            0.00
      B-4            1,650,000.00          2.59873%        1,650,000.00            3,573.26           0.00            0.00
      B-5              825,000.00          2.59873%          825,000.00            1,786.63           0.00            0.00
      B-6            1,925,608.17          2.59873%        1,925,608.17            4,170.12           0.00            0.00
--------------------------------------------------------------------------------------------------------------------------
    Totals         550,002,708.17                                              1,136,848.54           0.00            0.00
--------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                            Non-                                              Remaining            Ending
                          Supported                                             Unpaid          Certificate/
                           Interest       Realized        Total Interest       Interest          Notational
     Class                Shortfall       Loss (4)         Distribution       Shortfall           Balance
------------------------------------------------------------------------------------------------------------
<S>                       <C>             <C>             <C>                <C>              <C>
      A-1                   0.00            0.00           437,378.83            0.00         357,534,416.61
      A-2                   0.00            0.00           158,982.28            0.00         141,088,672.77
     X-1A                   0.00            0.00            77,083.07            0.00          96,981,099.84
     X-1B                   0.00            0.00           264,182.22            0.00         260,553,316.77
      X-2                   0.00            0.00           154,555.10            0.00         141,088,672.77
      X-B                   0.00            0.00             6,267.28            0.00           9,075,000.00
      A-R                   0.00            0.00                 0.00            0.00                   0.00
      B-1                   0.00            0.00            13,385.62            0.00           9,075,000.00
      B-2                   0.00            0.00            10,124.23            0.00           4,675,000.00
      B-3                   0.00            0.00             5,359.88            0.00           2,475,000.00
      B-4                   0.00            0.00             3,573.26            0.00           1,650,000.00
      B-5                   0.00            0.00             1,786.63            0.00             825,000.00
      B-6                   0.00            0.00             4,170.12            0.00           1,925,608.17
------------------------------------------------------------------------------------------------------------
    Totals                  0.00            0.00         1,136,848.52            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
                Original Face     Certificate      Certificate/      Current Accrued      Interest         Interest       Interest
   Class (5)       Amount            Rate        Notional Balance        Interest        Shortfall         Shortfall      Shortfall
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>                <C>            <C>                 <C>                <C>               <C>             <C>
      A-1      379,455,000.00      1.45000%         953.91730801        1.15265009       0.00000000       0.00000000      0.00000000
      A-2      149,922,000.00      1.34000%         949.64176452        1.06043329       0.00000000       0.00000000      0.00000000
     X-1A                0.00      0.93526%         980.86891469        0.76447322       0.00000000       0.00000000      0.00000000
     X-1B                0.00      1.20509%         944.16373305        0.94816959       0.00000000       0.00000000      0.00000000
      X-2                0.00      1.30269%         949.64176452        1.03090340       0.00000000       0.00000000      0.00000000
      X-B                0.00      0.82873%        1000.00000000        0.69060937       0.00000000       0.00000000      0.00000000
      A-R              100.00      2.42138%           0.00000000        0.00000000       0.00000000       0.00000000      0.00000000
      B-1        9,075,000.00      1.77000%        1000.00000000        1.47500055       0.00000000       0.00000000      0.00000000
      B-2        4,675,000.00      2.59873%        1000.00000000        2.16561070       0.00000000       0.00000000      0.00000000
      B-3        2,475,000.00      2.59873%        1000.00000000        2.16560808       0.00000000       0.00000000      0.00000000
      B-4        1,650,000.00      2.59873%        1000.00000000        2.16561212       0.00000000       0.00000000      0.00000000
      B-5          825,000.00      2.59873%        1000.00000000        2.16561212       0.00000000       0.00000000      0.00000000
      B-6        1,925,608.17      2.59873%        1000.00000000        2.16561192       0.00000000       0.00000000      0.00000000

<CAPTION>
                                                             Remaining
                                                              Unpaid
                  Realized                Total Interest      Interest     Ending Certificate/
   Class          Loss (6)                 Distribution      Shortfall      Notational Balance
----------------------------------------------------------------------------------------------
<S>               <C>                     <C>                <C>           <C>
      A-1         0.00000000                 1.15265006      0.00000000         942.23140191
      A-2         0.00000000                 1.06043329      0.00000000         941.08051367
     X-1A         0.00000000                 0.76447322      0.00000000         961.81241115
     X-1B         0.00000000                 0.94816959      0.00000000         935.14518832
      X-2         0.00000000                 1.03090340      0.00000000         941.08051367
      X-B         0.00000000                 0.69060937      0.00000000        1000.00000000
      A-R         0.00000000                 0.00000000      0.00000000           0.00000000
      B-1         0.00000000                 1.47499945      0.00000000        1000.00000000
      B-2         0.00000000                 2.16561070      0.00000000        1000.00000000
      B-3         0.00000000                 2.16560808      0.00000000        1000.00000000
      B-4         0.00000000                 2.16561212      0.00000000        1000.00000000
      B-5         0.00000000                 2.16561212      0.00000000        1000.00000000
      B-6         0.00000000                 2.16561192      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                             7,022,158.88
               Liquidations, Insurance Proceeds, Reserve Funds                        0.00
               Proceeds from Repurchased Loans                                        0.00
               Other Amounts (Servicer Advances)                                  7,592.67
               Realized Losses (Gains, Subsequent Expenses & Recoveries)              0.00
               Prepayment Penalties                                                   0.00
                                                                              ------------
Total Deposits                                                                7,029,751.55

Withdrawals
               Reimbursement for Servicer Advances                                6,214.78
               Payment of Service Fee                                           168,892.90
               Payment of Interest and Principal                              6,854,643.87
                                                                              ------------
Total Withdrawals (Pool Distribution Amount)                                  7,029,751.55

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                                                           164,518.17
Master Servicing Fee                                                            4,374.73
Supported Prepayment/Curtailment Interest Shortfall                                 0.00
                                                                              ----------

Net Servicing Fee                                                             168,892.90
                                                                              ==========
</TABLE>

<PAGE>

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

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
             DELINQUENT                            BANKRUPTCY                          FORECLOSURE
-----------------------------------------------------------------------------------------------------------
              No. of          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         11       3,298,330.51   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
            -------------------------               --------------------               --------------------
                11       3,298,330.51                   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       0.720839%      0.635211%  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%
              -----------------------               --------------------               --------------------
              0.720839%      0.635211%              0.000000%   0.000000%              0.000000%   0.000000%

<CAPTION>
              REO                               TOTAL
----------------------------------------------------------------------
             No. of      Principal              No. of       Principal
              Loans       Balance                Loans        Balance
<C>         <C>          <C>       <C>          <C>       <C>
0-29 Days       0           0.00   0-29 Days       0              0.00
30 Days         0           0.00   30 Days        11      3,298,330.51
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                  11      3,298,330.51

             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     0.720839%      0.635211%
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%              0.720839%      0.635211%
</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   7,592.67
</TABLE>
<PAGE>

Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage

<TABLE>
<CAPTION>
               Original $   Original %     Current $    Current %    Current Class %   Prepayment %
             -------------  ----------   -------------  ----------   ---------------   ------------
<S>          <C>            <C>          <C>            <C>          <C>               <C>
  Class A    20,625,608.17  3.75009211%  20,625,608.17  3.97220220%        96.027798%      0.000000%
Class X-1-A  20,625,608.17  3.75009211%  20,625,608.17  3.97220220%         0.000000%      0.000000%
Class X-1-B  20,625,608.17  3.75009211%  20,625,608.17  3.97220220%         0.000000%      0.000000%
 Class X-2   20,625,608.17  3.75009211%  20,625,608.17  3.97220220%         0.000000%      0.000000%
 Class B-1   11,550,608.17  2.10010024%  11,550,608.17  2.22448477%         1.747717%     43.998703%
 Class B-2    6,875,608.17  1.25010442%   6,875,608.17  1.32414548%         0.900339%     22.665998%
 Class B-3    4,400,608.17  0.80010664%   4,400,608.17  1.32414548%         0.476650%     11.999646%
 Class B-4    2,750,608.17  0.50010811%   2,750,608.17  0.84749527%         0.317767%      7.999764%
 Class B-5    1,925,608.17  0.35010885%   1,925,608.17  0.37084507%         0.158883%      3.999882%
 Class B-6            0.00  0.00000000%           0.00  0.00000000%         0.370845%      9.336007%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     GROUP 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         9         2,744,912.18   30 Days         0           0.00       30 Days         0         0.00
60 Days         0                 0.00   60 Days         0           0.00       60 Days         0         0.00
90 Days         0                 0.00   90 Days         0           0.00       90 Days         0         0.00
120 Days        0                 0.00   120 Days        0           0.00       120 Days        0         0.00
150 Days        0                 0.00   150 Days        0           0.00       150 Days        0         0.00
180+ Days       0                 0.00   180+ Days       0           0.00       180+ Days       0         0.00
             -------------------------                -------------------                    -----------------
                9         2,744,912.18                   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     0.831025%         0.737248%  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%
            --------------------------               --------------------                ---------------------
            0.831025%         0.737248%              0.000000%   0.000000%               0.000000%    0.000000%
            --------------------------               --------------------                ---------------------

<CAPTION>
               REO                              TOTAL
----------------------------------------------------------------------
             No. of      Principal              No. of     Principal
             Loans        Balance               Loans       Balance
<S>          <C>         <C>       <C>          <C>       <C>
0-29 Days       0           0.00   0-29 Days       0              0.00
30 Days         0.          0.00   30 Days         9      2,744,912.18
60 Days         0           0.00   60 Days         0              0.00
90 Days         0           0.00   90 Days         0              0.00
120 Days        0           0.00   120 Days        0              0.00
150 Days        0           0.00   150 Days        0              0.00
180+ Days       0           0.00   180+ Days       0              0.00
             -------------------                ----------------------
                0           0.00                   9      2,744,912.18

             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     0.831025%      0.737248%
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%              0.831025%      0.737248%
            --------------------               -----------------------
</TABLE>

                                     GROUP 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         2       533,418.33   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
             ---------------------                -------------------                 --------------------
                2       533,418.33                   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     0.451467%     0.376653%  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%
            ----------------------               --------------------                ---------------------
            0.451467%     0.376653%              0.000000%   0.000000%               0.000000%    0.000000%
            ----------------------               --------------------                ---------------------

<CAPTION>
               REO                               TOTAL
--------------------------------------------------------------------
             No. of      Principal                No. of    Principal
             Loans        Balance                 Loans      Balance
<S>          <C>         <C>       <C>            <C>     <C>
0-29 Days       0           0.00   0-29 Days       0            0.00
30 Days         0           0.00   30 Days         2      533,418.33
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                   2      533,418.33

             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     0.451467%    0.376653%
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%              0.451467%    0.376653%
            --------------------               ---------------------
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
             Collateral Description                    Mixed Arm
<S>                                                    <C>
Weighted Average Gross Coupon                                2.984742%
Weighted Average Net Coupon                                  2.608677%
Weighted Average Pass-Through Rate                           2.598677%
Weighted Average Maturity (Stepdown Calculation)                  352

Beginning Scheduled Collateral Loan Count                       1,539
Number of Loans Paid in Full                                       13
Ending Scheduled Collateral Loan Count                          1,526

Beginning Scheduled Collateral Balance                 524,966,492.90
Ending Scheduled Collateral Balance                    519,248,697.55
Ending Actual Collateral Balance at 38-Nov-2003        519,249,281.55

Monthly P&I Constant                                     1,305,741.42
Special Servicing Fee                                            0.00
Prepayment Penalties                                             0.00
Realized Loss Amount                                             0.00
Cumulative Realized Loss                                         0.00

Class A Optimal Amount                                   6,809,976.86

Ending Scheduled Balance for Premium Loans             519,248,697.55

Scheduled Principal                                              0.00
Unscheduled Principal                                    5,717,795.35
</TABLE>
<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                   <C>
Group 1 One Month Libor Loan Balance                                  100,991,225.40
Group 1 Six Month Libor Loan Balance                                  271,327,081.08
Group 2 Six Month Libor Loan Balance                                  146,930,391.07

Pro-Rata Senior Percent                                                    96.071062%
Group 1 Senior Percent                                                    100.000000%
Group 2 Senior Percent                                                    100.000000%
Group 1 Senior Prepayment Percent                                         100.000000%
Group 2 Senior Prepayment Percent                                         100.000000%
</TABLE>

<TABLE>
<CAPTION>
           GROUP                                 1                   2                  TOTAL
<S>                                        <C>               <C>                   <C>
Collateral Description                     Mixed ARM         Mixed ARM             Mixed ARM
Weighted Average Coupon Rate                     2.967849          3.027685              2.984742
Weighted Average Net Rate                        2.591364          2.652685              2.608677
Pass-Through Rate                                2.581364          2.642685              2.598677
Weighted Average Maturity                             327               331                   352
Record Date                                    11/28/2003        11/28/2003            11/28/2003
Principal and Interest Constant                931,787.22        373,954.20          1,305,741.42
Beginning Loan Count                                1,092               447                 1,539
Loans Paid in Full                                      9                 4                    13
Ending Loan Count                                   1,083               443                 1,526
Beginning Scheduled Balance                376,752,581.98    148,213,910.92        524,966,492.90
Ending Scheduled Balance                   372,318,306.48    146,930,391.07        519,248,697.55
Scheduled Principal                                  0.00              0.00                  0.00
Unscheduled Principal                        4,434,275.50      1,283,519.85          5,717,795.35
Scheduled Interest                             931,787.22        373,954.20          1,305,741.42
Servicing Fee                                  118,201.33         46,316.84            164,518.17
Master Servicing Fee                             3,139.61          1,235.12              4,374.73
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                                   810,446.28        326,402.24          1,136,848.52
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>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00059-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00059-of-00352.parquet"}]]