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 2003-6
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                             Certificate                         Beginning
                               Class       Certificate Pass-    Certificate       Interest         Principal
    Class        CUSIP       Description      Through Rate        Balance       Distribution     Distribution
-------------------------------------------------------------------------------------------------------------
<S>            <C>           <C>           <C>                 <C>              <C>              <C>
     A-1       81743PCX2        SEN            1.45875%        450,573,681.83     547,728.63     7,786,283.24
     X-1       81743PCZ7         IO            0.80000%                  0.00     395,145.56             0.00
     A-2       81743PCY0        SEN            1.55125%        177,238,448.44     229,117.62     1,200,583.56
     X-2       81743PDA1         IO            0.38320%                  0.00     200,487.66             0.00
     B-1       81743PDD5        SUB            1.72875%         11,287,000.00      16,260.33             0.00
     X-B       81743PDB9         IO            0.89460%                  0.00       8,416.89             0.00
     B-2       81743PDE3        SUB            2.62335%          5,643,000.00      12,336.30             0.00
     B-3       81743PDF0        SUB            2.62335%          3,320,000.00       7,257.94             0.00
     B-4       81743PDG8        SUB            2.62335%          1,660,000.00       3,628.97             0.00
     B-5       81743PDH6        SUB            2.62335%            996,000.00       2,177.38             0.00
     B-6       81743PDJ2        SUB            2.62335%          2,323,950.00       5,080.45             0.00
     A-R       81743PDC7        RES            2.62120%                  0.00           0.00             0.00
-------------------------------------------------------------------------------------------------------------
Totals                                                         653,042,080.27   1,427,637.73     8,986,866.80
-------------------------------------------------------------------------------------------------------------

<CAPTION>

                               Current       Ending Certificate       Total         Cumulative
    Class        CUSIP       Realized Loss        Balance          Distribution    Realized Loss
------------------------------------------------------------------------------------------------
<S>            <C>           <C>             <C>                   <C>             <C>
     A-1       81743PCX2         0.00          442,787,398.59       8,334,011.87       0.00
     X-1       81743PCZ7         0.00                    0.00         395,145.56       0.00
     A-2       81743PCY0         0.00          176,037,864.88       1,429,701.18       0.00
     X-2       81743PDA1         0.00                    0.00         200,487.66       0.00
     B-1       81743PDD5         0.00           11,287,000.00          16,260.33       0.00
     X-B       81743PDB9         0.00                    0.00           8,416.89       0.00
     B-2       81743PDE3         0.00            5,643,000.00          12,336.30       0.00
     B-3       81743PDF0         0.00            3,320,000.00           7,257.94       0.00
     B-4       81743PDG8         0.00            1,600,000.00           3,628.97       0.00
     B-5       81743PDH6         0.00              996,000.00           2,177.38       0.00
     B-6       81743PDJ2         0.00            2,323,950.00           5,080.45       0.00
     A-R       81743PDC7         0.00                    0.00               0.00       0.00
-------------------------------------------------------------------------------------------
Totals                           0.00          644,055,213.47      10,414,504.53       0.00
-------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                            Beginning      Scheduled    Unscheduled
          Original Face    Certificate     Principal     Principal               Realized
  Class       Amount         Balance      Distribution  Distribution  Accretion  Loss (1)
-----------------------------------------------------------------------------------------
<S>       <C>             <C>             <C>           <C>           <C>        <C>
   A-1    458,238,000.00  450,573,681.83    556.07      7,785,727.17    0.00       0.00
   X-1              0.00            0.00      0.00              0.00    0.00       0.00
   A-2    180,474,000.00  117,238,448.44    137.34      1,200,446.22    0.00       0.00
   X-2              0.00            0.00      0.00              0.00    0.00       0.00
   B-1     11,287,000.00   11,287,000.00      0.00              0.00    0.00       0.00
   B-2      5,643,000.00    5,643,000.00      0.00              0.00    0.00       0.00
   B-3      3,320,000.00    3,320,000.00      0.00              0.00    0.00       0.00
   B-4      1,660,000.00    1,660,000.00      0.00              0.00    0.00       0.00
   B-5        996,000.00      996,000.00      0.00              0.00    0.00       0.00
   B-6      2,323,950.00    2,323,950.00      0.00              0.00    0.00       0.00
   A-R            100.00            0.00      0.00              0.00    0.00       0.00
---------------------------------------------------------------------------------------
Totals    663,942,050.00  653,042,080.27    693.41      8,986,173.39    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     7,786,283.24       442,787,398.59          0.96628258       7,786,283.24
   X-1             0.00                 0.00          0.00000000               0.00
   A-2     1,200,583.56       176,037,864.88          0.97541953       1,200,583.56
   X-2             0.00                 0.00          0.00000000               0.00
   B-1             0.00        11,287,000.00          1.00000000               0.00
   B-2             0.00         5,643,000.00          1.00000000               0.00
   B-3             0.00         3,320,000.00          1.00000000               0.00
   B-4             0.00         1,660,000.00          1.00000000               0.00
   B-5             0.00           996,000.00          1.00000000               0.00
   B-6             0.00         2,323,950.00          1.00000000               0.00
   A-R             0.00                 0.00          0.00000000               0.00
-----------------------------------------------------------------------------------
Totals     8,986,866.80       644,055,213.47          0.97004733       8,986,866.80
-----------------------------------------------------------------------------------
</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    458,238,000.00    983.27437233   0.00121350   16.99057514   0.00000000  0.00000000
   X-1              0.00      0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   A-2    180,474,000.00    982.07192416   0.00076100    6.65162971   0.00000000  0.00000000
   X-2              0.00      0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   B-1     11,287,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   X-B              0.00      0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   B-2      5,643,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   B-3      3,320,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   B-4      1,660,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   B-5        996,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   B-6      2,323,950.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
   A-R            100.00      0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
--------------------------------------------------------------------------------------------

<CAPTION>
          Total Principal   Ending Certificate    Ending Certificate  Total Principal
  Class     Reduction            Balance              Percentage        Distribution
-------------------------------------------------------------------------------------
<S>       <C>               <C>                   <C>                 <C>
   A-1      16.99178863        966.28258370           0.96628258        16.99178863
   X-1       0.00000000          0.00000000           0.00000000         0.00000000
   A-2       6.65239070        975.41953345           0.97541953         6.65239070
   X-2       0.00000000          0.00000000           0.00000000         0.00000000
   B-1       0.00000000       1000.00000000           1.00000000         0.00000000
   X-B       0.00000000          0.00000000           0.00000000         0.00000000
   B-2       0.00000000       1000.00000000           1.00000000         0.00000000
   B-3       0.00000000       1000.00000000           1.00000000         0.00000000
   B-4       0.00000000       1000.00000000           1.00000000         0.00000000
   B-5       0.00000000       1000.00000000           1.00000000         0.00000000
   B-6       0.00000000       1000.00000000           1.00000000         0.00000000
   A-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.

<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     458,238,000.00      1.45875%      450,573,681.83     547,728.63      0.00        0.00
  X-1               0.00      0.80000%      592,713,976.10     395,142.65      0.00        0.00
  A-2     180,474,000.00      1.55125%      177,238,448.44     229,117.62      0.00        0.00
  X-2               0.00      0.38320%      627,812,130.27     200,483.28      0.00        0.00
  B-1      11,287,000.00      1.72875%       11,287,000.00      16,260.33      0.00        0.00
  X-B               0.00      0.89460%       11,287,000.00       8,414.46      0.00        0.00
  B-2       5,643,000.00      2.62335%        5,643,000.00      12,336.30      0.00        0.00
  B-3       3,320,000.00      2.62335%        3,320,000.00       7,257.94      0.00        0.00
  B-4       1,660,000.00      2.62335%        1,660,000.00       3,628.97      0.00        0.00
  B-5         996,000.00      2.62335%          996,000.00       2,177.38      0.00        0.00
  B-6       2,323,950.00      2.62335%        2,323,950.00       5,080.45      0.00        0.00
  A-R             100.00      2.62120%                0.00           0.00      0.00        0.00
-----------------------------------------------------------------------------------------------
Totals    663,942,050.00                                     1,427,628.01      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        547,728.63      0.00      442,787,398.59
  X-1       0.00        0.00        395,145.56      0.00      570,924,121.28
  A-2       0.00        0.00        229,117.62      0.00      176,037,864.88
  X-2       0.00        0.00        200,487.66      0.00      618,825,263.47
  B-1       0.00        0.00         16,260.33      0.00       11,287,000.00
  X-B       0.00        0.00          8,416.89      0.00       11,287,000.00
  B-2       0.00        0.00         12,336.30      0.00        5,643,000.00
  B-3       0.00        0.00          7,257.94      0.00        3,320,000.00
  B-4       0.00        0.00          3,628.97      0.00        1,660,000.00
  B-5       0.00        0.00          2,177.38      0.00          996,000.00
  B-6       0.00        0.00          5,080.45      0.00        2,323,950.00
  A-R       0.00        0.00              0.00      0.00                0.00
----------------------------------------------------------------------------
Totals      0.00        0.00      1,427,637.73      0.00
----------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                    INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                             Payment of
                             Current       Beginning                           Unpaid     Current
           Original Face   Certificate    Certificate/     Current Accrued    Interest   Interest
Class (5)     Amount          Rate      Notional Balance      Interest       Shortfall   Shortfall
---------------------------------------------------------------------------------------------------
<S>        <C>             <C>          <C>                <C>               <C>         <C>
  A-1      458,238,000.00    1.45875%     983.27437233        1.19529290     0.00000000  0.00000000
  X-1                0.00    0.80000%     927.98315375        0.61865543     0.00000000  0.00000000
  A-2      180,474,000.00    1.55125%     982.07192416        1.26953256     0.00000000  0.00000000
  X-2                0.00    0.38320%     982.93460945        0.31388682     0.00000000  0.00000000
  B-1       11,287,000.00    1.72875%    1000.00000000        1.44062461     0.00000000  0.00000000
  X-B                0.00    0.89460%    1000.00000000        0.74550013     0.00000000  0.00000000
  B-2        5,643,000.00    2.62335%    1000.00000000        2.18612440     0.00000000  0.00000000
  B-3        3,320,000.00    2.62335%    1000.00000000        2.18612651     0.00000000  0.00000000
  B-4        1,660,000.00    2.62335%    1000.00000000        2.18612651     0.00000000  0.00000000
  B-5          996,000.00    2.62335%    1000.00000000        2.18612450     0.00000000  0.00000000
  B-6        2,323,950.00    2.62335%    1000.00000000        2.18612707     0.00000000  0.00000000
  A-R              100.00    2.62120%       0.00000000        0.00000000     0.00000000  0.00000000
---------------------------------------------------------------------------------------------------

<CAPTION>
              Non-                                 Remaining
           Supported                                 Unpaid
            Interest    Realized   Total Interest   Interest   Ending Certificate/
Class (5)  Shortfall    Loss (6)    Distribution   Shortfall   Notational Balance
----------------------------------------------------------------------------------
<S>        <C>         <C>         <C>             <C>         <C>
  A-1      0.00000000  0.00000000    1.19529290    0.00000000      966.28258370
  X-1      0.00000000  0.00000000    0.61865999    0.00000000      893.86784855
  A-2      0.00000000  0.00000000    1.26953256    0.00000000      975.41953345
  X-2      0.00000000  0.00000000    0.31389368    0.00000000      968.86431360
  B-1      0.00000000  0.00000000    1.44062461    0.00000000     1000.00000000
  X-B      0.00000000  0.00000000    0.74571542    0.00000000     1000.00000000
  B-2      0.00000000  0.00000000    2.18612440    0.00000000     1000.00000000
  B-3      0.00000000  0.00000000    2.18612651    0.00000000     1000.00000000
  B-4      0.00000000  0.00000000    2.18612651    0.00000000     1000.00000000
  B-5      0.00000000  0.00000000    2.18612450    0.00000000     1000.00000000
  B-6      0.00000000  0.00000000    2.18612707    0.00000000     1000.00000000
  A-R      0.00000000  0.00000000    0.00000000    0.00000000        0.00000000
-------------------------------------------------------------------------------
</TABLE>

(5)  Per $1 denomination

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

<PAGE>

                      CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                                             <C>
Beginning Balance                                                                        0.00
Deposits
               Payments of Interest and Principal                               10,597,033.27
               Liquidations, Insurance Proceeds, Reserve Funds                           9.72
               Proceeds from Repurchased Loans                                           0.00
               Other Amounts (Servicer Advances)                                    18,807.95
               Realized Losses (Gains, Subsequent Expenses & Recoveries)                 0.00
               Prepayment Penalties                                                      0.00
                                                                                -------------
Total Deposits                                                                  10,615,850.94

Withdrawals
               Reimbursement for Servicer Advances                                       0.00
               Payment of Service Fee                                              201,346.41
               Payment of Interest and Principal                                10,414,504.53
                                                                                -------------
Total Withdrawals (Pool Distribution Amount)                                    10,615,850.94

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                                                              191,934.55
Master Servicing Fee                                                               9,411.86
Supported Prepayment/Curtailment Interest Shortfall                                    0.00
                                                                                 ----------
Net Servicing Fee                                                                201,346.41
                                                                                 ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                       Beginning      Current     Current    Ending
 Account Type                           Balance     Withdrawals   Deposits   Balance
-------------------------------------------------------------------------------------
<S>                                    <C>          <C>           <C>        <C>
Class A-1 Companion Sub Account        4,000.00        3.89         3.89     4,000.00
Class A-1 NAS Sub Account              1,000.00        0.97         0.97     1,000.00
Class A-2 Companion Sub Account          500.00        0.49         0.49       500.00
Class A-2 NAS Sub Account              2,000.00        1.94         1.94     2,000.00
Class B-1 Sub Account                  2,500.00        2.43         2.43     2,500.00
</TABLE>

            LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

0-29 Days         0              0.00   0-29 Days        0         0.00      0-29 Days      0         0.00
30 Days          18      7,649,994.53   30 Days          0         0.00      30 Days        0         0.00
60 Days           1         87,500.00   60 Days          0         0.00      60 Days        0         0.00
90 Days           1        100,000.00   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          1        167,341.10   150 Days         0         0.00      150 Days       0         0.00
180+ Days         0              0.00   180+ Days        0         0.00      180+ Days      0         0.00
              ---------  ------------                 ---------  ---------               ---------  ---------
                 21      8,004,835.63                    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       0.966702%   1.187800%     30 Days       0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days       0.053706%   0.013586%     60 Days       0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days       0.053706%   0.015527%     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      0.053706%   0.025983%     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%
              --------    --------                    --------   --------                --------   --------
              1.127820%   1.242896%                   0.000000%  0.000000%               0.000000%  0.000000%

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

0-29 Days      0         0.00     0-29 Days       0               0.00
30 Days        0         0.00     30 Days        18       7,649,994.53
60 Days        0         0.00     60 Days         1          87,500.00
90 Days        0         0.00     90 Days         1         100,000.00
120 Days       0         0.00     120 Days        0               0.00
150 Days       0         0.00     150 Days        1         167,341.10
180+ Days      0         0.00     180+ Days       0               0.00
            --------   ---------              ---------   ------------
               0         0.00                    21       8,004,835.63

             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     0.966702%    1.187800%
60 Days     0.000000%  0.000000%  60 Days     0.053706%    0.013586%
90 Days     0.000000%  0.000000%  90 Days     0.053706%    0.015527%
120 Days    0.000000%  0.000000%  120 Days    0.000000%    0.000000%
150 Days    0.000000%  0.000000%  150 Days    0.053706%    0.025983%
180+ Days   0.000000%  0.000000%  180+ Days   0.000000%    0.000000%
            --------   --------               --------    ---------
            0.000000%  0.000000%              1.127820%    1.242896%
</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 18,807.95
</TABLE>
<PAGE>

     SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
                                   PERCENTAGE

<TABLE>
<CAPTION>
                   Original $            Original%        Current $           Current %          Current Class %      Prepayment %
----------------------------------------------------------------------------------------------------------------------------------
<S>              <C>                    <C>             <C>                  <C>                 <C>                  <C>
Class A          25,229,950.00          3.80002806%     25,229,950.00        3.91735824%            96.082642%          0.000000%
Class X-1        25,229,950.00          3.80002806%     25,229,950.00        3.91735824%             0.000000%          0.000000%
Class X-2        25,229,950.00          3.80002806%     25,229,950.00        3.91735824%             0.000000%          0.000000%
Class B-1        13,942,950.00          2.10002799%     13,942,950.00        2.16486874%             1.752490%         44.736514%
Class B-2         8,299,950.00          1.25010327%      8,299,950.00        1.28870162%             0.876167%         22.366275%
Class B-3         4,979,950.00          0.75005895%      4,979,950.00        0.77321787%             0.515484%         13.158964%
Class B-4         3,319,950.00          0.50003679%      3,319,950.00        0.51547599%             0.257742%          6.579482%
Class B-5         2,323,950.00          0.35002349%      2,323,950.00        0.36083087%             0.154645%          3.947689%
Class B-6                 0.00          0.00000000%              0.00        0.00000000%             0.360831%          9.211077%
</TABLE>

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

                          DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
             ELINQUENT                          BANKRUPTCY                       FORECLOSURE
-------------------------------------------------------------------------------------------------------
<S>           <C>        <C>         <C>          <C>        <C>        <C>        <C>        <C>
POOL 1 - 1 MONTH
               No. of    Principal                 No. of    Principal              No. of    Principal
                Loans     Balance                   Loans     Balance               Loans      Balance

0-29 Days         0        0.00      0-29 Days        0        0.00     0-29 Days      0        0.00
30 Days           0        0.00      30 Days          0        0.00     30 Days        0        0.00
60 Days           0        0.00      60 Days          0        0.00     60 Days        0        0.00
90 Days           0        0.00      90 Days          0        0.00     90 Days        0        0.00
120 Days          0        0.00      120 Days         0        0.00     120 Days       0        0.00
150 Days          0        0.00      150 Days         0        0.00     150 Days       0        0.00
180+ Days         0        0.00      180+ Days        0        0.00     180+ Days      0        0.00
              ---------  ---------                ---------  ---------             ---------  ---------
                  0        0.00                    0           0.00                    0        0.00

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

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

<CAPTION>
              REO                                  TOTAL
-----------------------------------------------------------------------
<S>          <C>         <C>         <C>           <C>        <C>

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

0-29 Days        0         0.00      0-29 Days         0        0.00
30 Days          0         0.00      30 Days           0        0.00
60 Days          0         0.00      60 Days           0        0.00
90 Days          0         0.00      90 Days           0        0.00
120 Days         0         0.00      120 Days          0        0.00
150 Days         0         0.00      150 Days          0        0.00
180+ Days        0         0.00      180+ Days         0        0.00
             ---------   ---------                 --------   ---------
              0            0.00                        0        0.00

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

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

<PAGE>

<TABLE>
<CAPTION>
            DELINQUENT                             BANKRUPTCY                             FORECLOSURE
---------------------------------------------------------------------------------------------------------------
POOL 1 - 6 MONTH
               No. of      Principal                   No. of    Principal                 No. of     Principal
                Loans       Balance                     Loans     Balance                   Loans      Balance
<S>           <C>         <C>            <C>          <C>        <C>         <C>          <C>         <C>
0-29 Days         0               0.00   0-29 Days        0        0.00      0-29 Days        0         0.00
30 Days          13       4,771,479.63   30 Days          0        0.00      30 Days          0         0.00
60 Days           1          87,500.00   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
              ----------  ------------                --------   --------                 --------    --------
                 14       4,858,979.63                    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       1.125541%    1.220375%     30 Days      0.000000%  0.000000%   30 Days      0.000000%   0.000000%
60 Days       0.086580%    0.022379%     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%
              --------     --------                   --------   --------                 --------    --------
              1.212121%    1.242754%                  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        13      4,771,479.63
60 Days         0        0.00     60 Days         1         87,500.00
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                    14      4,858,979.63

             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     1.125541%   1.220375%
60 Days     0.000000%  0.000000%  60 Days     0.086580%   0.022379%
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%              1.212121%   1.242754%
------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
            DELINQUENT                             BANKRUPTCY                             FORECLOSURE
---------------------------------------------------------------------------------------------------------------
POOL 2
               No. of      Principal                   No. of    Principal                 No. of     Principal
                Loans       Balance                     Loans     Balance                   Loans      Balance
<S>           <C>         <C>            <C>          <C>        <C>         <C>          <C>         <C>
0-29 Days         0               0.00   0-29 Days        0        0.00      0-29 Days        0         0.00
30 Days           5       2,878,514.90   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         100,000.00   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          1         167,341.10   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
             --------     ------------                --------   --------                 --------    --------
                  7       3,145,856.00                    0        0.00                       0         0.00

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

0-29 Days     0.000000%    0.000000%     0-29 Days    0.000000%  0.000000%   0-29 Days    0.000000%   0.000000%
30 Days       0.943396%    1.571549%     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       0.188679%    0.054596%     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      0.188679%    0.091361%     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%
             ---------     --------                   --------   --------                 --------    --------
              1.320755%    1.717506%                  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        5       2,878,514.90
60 Days         0        0.00     60 Days        0               0.00
90 Days         0        0.00     90 Days        1         100,000.00
120 Days        0        0.00     120 Days       0               0.00
150 Days        0        0.00     150 Days       1         167,341.10
180+ Days       0        0.00     180+ Days      0               0.00
            ---------  ---------              ---------  ------------
                0        0.00                    7       3,145,856.00

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

0-29 Days   0.000000%  0.000000%  0-29 Days   0.000000%   0.000000%
30 Days     0.000000%  0.000000%  30 Days     0.943396%   1.571549%
60 Days     0.000000%  0.000000%  60 Days     0.000000%   0.000000%
90 Days     0.000000%  0.000000%  90 Days     0.188679%   0.054596%
120 Days    0.000000%  0.000000%  120 Days    0.000000%   0.000000%
150 Days    0.000000%  0.000000%  150 Days    0.188679%   0.091361%
180+ Days   0.000000%  0.000000%  180+ Days   0.000000%   0.000000%
            --------   --------               --------   ---------
            0.000000%  0.000000%              1.320755%   1.717506%
------------------------------------------------------------------
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<S>                                                                    <C>
Collateral Description                                                    Mixed Arm
Weighted Average Gross Coupon                                                2.993328%
Weighted Average Net Coupon                                                  2.640638%
Weighted Average Pass-Through Rate                                           2.623343%
Weighted Average Maturity (Stepdown Calculation)                                  326

Beginning Scheduled Collateral Loan Count                                       1,879
Number of Loans Paid in Full                                                       17
Ending Scheduled Collateral Loan Count                                          1,862

Beginning Scheduled Collateral Balance                                 653,042,080.46
Ending Scheduled Collateral Balance                                    644,055,213.66
Ending Actual Collateral Balance at 31-Dec-2003                        644,047,117.17

Monthly P&I Constant                                                     1,629,667.81
Special Servicing Fee                                                            0.00
Prepayment Penalties                                                             0.00
Realized Loss Amount                                                             0.00
Cumulative Realized Loss                                                         0.00

Class A Optimal Amount                                                  10,359,338.99

Ending Scheduled Balance for Premium Loans                             644,055,213.66

Scheduled Principal                                                            693.41
Unscheduled Principal                                                    8,986,173.39
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
           GROUP                        POOL 1 - 1 MONTH        POOL 1 - 6 MONTH          POOL 2               TOTAL
<S>                                     <C>                     <C>                 <C>                   <C>
Collateral Description                  1 Month LIBOR ARM       6 Month LIBOR ARM   6 Month LIBOR ARM          Mixed ARM
Weighted Average Coupon Rate                     2.857631                3.009884            3.009255           2.993328
Weighted Average Net Rate                        2.516264                2.656171            2.654462           2.640638
Pass-Through Rate                                2.496086                2.636009            2.644462           2.623343
Weighted Average Maturity                             311                     327                 332                326
Record Date                                    12/31/2003              12/31/2003          12/31/2003         12/31/2003
Principal and Interest Constant                167,366.83              999,823.42          462,477.56       1,629,667.81
Beginning Loan Count                                  178                   1,167                 534              1,879
Loans Paid in Full                                      1                      12                   4                 17
Ending Loan Count                                     177                   1,155                 530              1,862
Beginning Scheduled Balance                 70,248,906.79          398,425,839.90      184,367,333.77     653,042,080.46
Ending Scheduled Balance                    68,899,430.93          390,989,032.52      183,166,750.21     644,055,213.66
Scheduled Principal                                 78.93                  477.14              137.34             693.41
Unscheduled Principal                          349,396.93            7,436,330.24        1,200,446.22       8,986,173.39
Scheduled Interest                             167,287.90              999,346.28          462,340.22       1,628,974.40
Servicing Fee                                   19,983.93              117,440.41           54,510.21         191,934.55
Master Servicing Fee                             1,181.20                6,694.26            1,536.40           9,411.86
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                                   146,122.77              875,211.61          406,293.61       1,427,627.99
Realized Loss Amount                                 0.00                    0.00                0.00               0.00
Cumulative Realized Loss                             0.00                    0.00                0.00               0.00
Percentage of Cumulative Losses                      0.00                    0.00                0.00               0.00
Prepayment Penalties                                 0.00                    0.00                0.00               0.00
Special Servicing Fee                                0.00                    0.00                0.00               0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                       <C>
Group Pool 1 - 1 Month
1 Month LIBOR Loan Balance                 69,899,430.93
6 Month LIBOR Loan Balance                390,989,032.52
Interest Transfer Amount                            0.00
Principal Transfer Amount                           0.00
Pro-Rata Pct                                   96.137819%
Senior Pct                                    100.000000%
Senior Prepay Pct                             100.000000%
Subordinate Pct                                 0.000000%
Subordinate Prepay Pct                          0.000000%

Group 1 - 6 Month
6 Month LIBOR Loan Balance                183,166,750.21
Interest Transfer Amount                            0.00
Principal Transfer Amount                           0.00
Pro-Rata Pct                                   96.133325%
Senior Pct                                    100.000000%
Senior Prepay Pct                             100.000000%
Subordinate Pct                                 0.000000%
Subordinate Prepay Pct                          0.000000%
</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 2003-8
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                         Certificate                          Beginning
                            Class          Certificate       Certificate        Interest         Principal        Current
 Class       CUSIP       Description    Pass-Through Rate      Balance        Distribution     Distribution    Realized Loss
------     ---------     -----------    -----------------   --------------    ------------     ------------    -------------
<S>        <C>           <C>            <C>                 <C>               <C>              <C>             <C>
  A-1      81743PDX1         SEN            1.46625%        791,768,000.00      870,697.37     2,696,789.55         0.00
  X-1      81743PDZ6          IO            0.80000%                  0.00      627,845.33             0.00         0.00
  A-2      81743PDY9         SEN            1.56000%        150,000,000.00      175,500.00     1,133,431.59         0.00
  X-2      81743PEA0          IO            0.42114%                  0.00      330,515.57             0.00         0.00
  B-1      81743PED4         SUB            1.73625%         14,166,000.00       18,446.79             0.00         0.00
  X-B      81743PEB8          IO            0.77206%                  0.00       14,456.88             0.00         0.00
  B-2      81743PEE2         SUB            2.39625%          8,304,000.00       14,923.84             0.00         0.00
  B-3      81743PEF9         SUB            2.55421%          4,884,000.00       10,395.62             0.00         0.00
  B-4      81743PEG7         SUB            2.55421%          2,443,000.00        5,199.94             0.00         0.00
  B-5      81743PEH5         SUB            2.55421%          1,465,000.00        3,118.26             0.00         0.00
  B-6      81743PEJ1         SUB            2.55421%          3,908,267.00        8,318.77             0.00         0.00
  A-R      81743PEC6         RES            2.55607%                100.00            0.21           100.00         0.00
------     ---------     -----------    -----------------   --------------    ------------     ------------    -------------
Totals                                                      976,938,367.00    2,079,418.58     3,830,321.14         0.00
------     ---------     -----------    -----------------   --------------    ------------     ------------    -------------

<CAPTION>
                        Ending Certificate       Total         Cumulative
 Class       CUSIP            Balance         Distribution    Realized Loss
------     ---------    ------------------    ------------    -------------
<S>        <C>          <C>                   <C>             <C>
  A-1      81743PDX1      789,071,210.45      3,567,486.92         0.00
  X-1      81743PDZ6                0.00        627,845.33         0.00
  A-2      81743PDY9      148,866,568.41      1,308,931.59         0.00
  X-2      81743PEA0                0.00        330,515.57         0.00
  B-1      81743PED4       14,166,000.00         18,446.79         0.00
  X-B      81743PEB8                0.00         14,456.88         0.00
  B-2      81743PEE2        8,304,000.00         14,923.84         0.00
  B-3      81743PEF9        4,884,000.00         10,395.62         0.00
  B-4      81743PEG7        2,443,000.00          5,199.94         0.00
  B-5      81743PEH5        1,465,000.00          3,118.26         0.00
  B-6      81743PEJ1        3,908,267.00          8,318.77         0.00
  A-R      81743PEC6                0.00            100.21         0.00
------     ---------    ------------------    ------------    -------------
Totals                    973,108,045.86      5,909,739.72         0.00
------     ---------    ------------------    ------------    -------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                 Beginning        Scheduled      Unscheduled
           Original Face        Certificate       Principal       Principal                   Realized    Total Principal
 Class         Amount             Balance       Distribution     Distribution    Accretion    Loss (1)       Reduction
------     --------------     --------------    ------------     ------------    ---------    --------    ---------------
<S>        <C>                <C>               <C>              <C>             <C>          <C>         <C>
  A-1      791,768,000.00     791,768,000.00        0.00         2,696,789.55      0.00         0.00       2,696,789.55
  X-1                0.00               0.00        0.00                 0.00      0.00         0.00               0.00
  A-2      150,000,000.00     150,000,000.00        0.00         1,133,431.59      0.00         0.00       1,133,431.59
  X-2                0.00               0.00        0.00                 0.00      0.00         0.00               0.00
  B-1       14,166,000.00      14,166,000.00        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-2        8,304,000.00       8,304,000.00        0.00                 0.00      0.00         0.00               0.00
  B-3        4,884,000.00       4,884,000.00        0.00                 0.00      0.00         0.00               0.00
  B-4        2,443,000.00       2,443,000.00        0.00                 0.00      0.00         0.00               0.00
  B-5        1,465,000.00       1,465,000.00        0.00                 0.00      0.00         0.00               0.00
  B-6        3,908,267.00       3,908,267.00        0.00                 0.00      0.00         0.00               0.00
  A-R              100.00             100.00        0.00               100.00      0.00         0.00               0.00
------     --------------     --------------    ------------     ------------    ---------    --------    ---------------
Totals     976,938,367.00     976,938,367.00        0.00         3,830,321.14      0.00         0.00       3,830,321.14
------     --------------     --------------    ------------     ------------    ---------    --------    ---------------

<CAPTION>
             Ending Certificate   Ending Certificate     Total Principal
 Class             Balance            Percentage           Distribution
------       ------------------   ------------------     ---------------
<S>          <C>                  <C>                    <C>
  A-1          789,071,210.45         0.99659396          2,696,789.55
  X-1                    0.00         0.00000000                  0.00
  A-2          148,866,568.41         0.99244379          1,133,431.59
  X-2                    0.00         0.00000000                  0.00
  B-1           14,166,000.00         1.00000000                  0.00
  X-B                    0.00         0.00000000                  0.00
  B-2            8,304,000.00         1.00000000                  0.00
  B-3            4,884,000.00         1.00000000                  0.00
  B-4            2,443,000.00         1.00000000                  0.00
  B-5            1,465,000.00         1.00000000                  0.00
  B-6            3,908,267.00         1.00000000                  0.00
  A-R                    0.00         0.00000000                100.00
------       ------------------   ------------------     ---------------
Totals         973,108,045.86         0.99607926          3,830,321.14
------       ------------------   ------------------     ---------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                Beginning       Scheduled      Unscheduled
            Original Face      Certificate      Principal       Principal                     Realized    Total Principal
Class          Amount            Balance      Distribution    Distribution     Accretion      Loss (3)        Reduction
-----      --------------     -------------   ------------   -------------    ----------     ----------   ---------------
<S>        <C>                <C>             <C>            <C>              <C>            <C>          <C>
 A-1       791,768,000.00     1000.00000000    0.00000000       3.40603504    0.00000000     0.00000000       3.40603504
 X-1                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 A-2       150,000,000.00     1000.00000000    0.00000000       7.55621060    0.00000000     0.00000000       7.55621060
 X-2                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-1        14,166,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 X-B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-2         8,304,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-3         4,884,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-4         2,443,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-5         1,465,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-6         3,908,267.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 A-R               100.00     1000.00000000    0.00000000    1000.00000000    0.00000000     0.00000000    1000.00000000

<CAPTION>
             Ending Certificate   Ending Certificate   Total Principal
Class              Balance             Percentage        Distribution
-----        ------------------   ------------------   ---------------
<S>          <C>                  <C>                  <C>
 A-1             996.59396496          0.99659396         3.40603504
 X-1               0.00000000          0.00000000         0.00000000
 A-2             992.44378940          0.99244379         7.55621060
 X-2               0.00000000          0.00000000         0.00000000
 B-1            1000.00000000          1.00000000         0.00000000
 X-B               0.00000000          0.00000000         0.00000000
 B-2            1000.00000000          1.00000000         0.00000000
 B-3            1000.00000000          1.00000000         0.00000000
 B-4            1000.00000000          1.00000000         0.00000000
 B-5            1000.00000000          1.00000000         0.00000000
 B-6            1000.00000000          1.00000000         0.00000000
 A-R               0.00000000          0.00000000      1000.00000000
</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
 Class           Amount       Certificate Rate      Balance          Interest      Shortfall     Shortfall     Shortfall
------       --------------   ----------------   --------------   ------------     ----------    ---------     ---------
<S>          <C>              <C>                <C>              <C>              <C>           <C>           <C>
  A-1        791,768,000.00        1.46625%      791,768,000.00     870,697.37        0.00          0.00         0.00
  X-1                  0.00        0.80000%      941,768,000.00     627,845.33        0.00          0.00         0.00
  A-2        150,000,000.00        1.56000%      150,000,000.00     175,500.00        0.00          0.00         0.00
  X-2                  0.00        0.42114%      941,768,000.00     330,515.57        0.00          0.00         0.00
  B-1         14,166,000.00        1.73625%       14,166,000.00      18,446.79        0.00          0.00         0.00
  X-B                  0.00        0.77206%       22,470,000.00      14,456.88        0.00          0.00         0.00
  B-2          8,304,000.00        2.39625%        8,304,000.00      14,923.85        0.00          0.00         0.00
  B-3          4,884,000.00        2.55421%        4,884,000.00      10,395.62        0.00          0.00         0.00
  B-4          2,443,000.00        2.55421%        2,443,000.00       5,199.94        0.00          0.00         0.00
  B-5          1,465,000.00        2.55421%        1,465,000.00       3,118.26        0.00          0.00         0.00
  B-6          3,908,267.00        2.55421%        3,908,267.00       8,318.77        0.00          0.00         0.00
  A-R                100.00        2.55607%              100.00           0.21        0.00          0.00         0.00
------       --------------   ----------------   --------------   ------------     ----------    ---------     ---------
Totals       976,938,367.00                                       2,079,418.59        0.00          0.00         0.00
------       --------------   ----------------   --------------   ------------     ----------    ---------     ---------

<CAPTION>
                                             Remaining      Ending
                                               Unpaid     Certificate/
               Realized  Total Interest       Interest     Notational
 Class         Loss (4)   Distribution       Shortfall       Balance
------         --------  --------------      ---------   --------------
<S>            <C>       <C>                 <C>         <C>
  A-1            0.00       870,697.37          0.00     789,071,210.45
  X-1            0.00       627,845.33          0.00     907,319,431.93
  A-2            0.00       175,500.00          0.00     148,866,568.41
  X-2            0.00       330,515.57          0.00     937,937,778.86
  B-1            0.00        18,446.79          0.00      14,166,000.00
  X-B            0.00        14,456.88          0.00      22,470,000.00
  B-2            0.00        14,923.84          0.00       8,304,000.00
  B-3            0.00        10,395.62          0.00       4,884,000.00
  B-4            0.00         5,199.94          0.00       2,443,000.00
  B-5            0.00         3,118.26          0.00       1,465,000.00
  B-6            0.00         8,318.77          0.00       3,908,267.00
  A-R            0.00             0.21          0.00               0.00
------         --------  --------------      ---------   --------------
Totals           0.00     2,079,418.58          0.00
------         --------  --------------      ---------   --------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                     Payment of                    Non-
                                   Current         Beginning                           Unpaid       Current     Supported
                Original Face    Certificate     Certificate/      Current Accrued    Interest     Interest      Interest
 Class (5)         Amount           Rate       Notional Balance       Interest        Shortfall    Shortfall    Shortfall
----------     --------------    -----------   ----------------    ---------------   ----------   ----------    ----------
<S>            <C>               <C>           <C>                 <C>               <C>          <C>           <C>
    A-1        791,768,000.00     1.46625%       1000.00000000       1.09968750      0.00000000   0.00000000    0.00000000
    X-1                  0.00     0.80000%       1000.00000000       0.66666666      0.00000000   0.00000000    0.00000000
    A-2        150,000,000.00     1.56000%       1000.00000000       1.17000000      0.00000000   0.00000000    0.00000000
    X-2                  0.00     0.42114%       1000.00000000       0.35095222      0.00000000   0.00000000    0.00000000
    B-1         14,166,000.00     1.73625%       1000.00000000       1.30218763      0.00000000   0.00000000    0.00000000
    X-B                  0.00     0.77206%       1000.00000000       0.64338585      0.00000000   0.00000000    0.00000000
    B-2          8,304,000.00     2.39625%       1000.00000000       1.79718810      0.00000000   0.00000000    0.00000000
    B-3          4,884,000.00     2.55421%       1000.00000000       2.12850532      0.00000000   0.00000000    0.00000000
    B-4          2,443,000.00     2.55421%       1000.00000000       2.12850594      0.00000000   0.00000000    0.00000000
    B-5          1,465,000.00     2.55421%       1000.00000000       2.12850512      0.00000000   0.00000000    0.00000000
    B-6          3,908,267.00     2.55421%       1000.00000000       2.12850606      0.00000000   0.00000000    0.00000000
    A-R                100.00     2.55607%       1000.00000000       2.10000000      0.00000000   0.00000000    0.00000000

<CAPTION>
                                                Remaining
                                                  Unpaid
                Realized      Total Interest     Interest       Ending Certificate/
 Class (5)      Loss (6)       Distribution      Shortfall      Notational Balance
----------     ----------     --------------    ----------      -------------------
<S>            <C>            <C>               <C>             <C>
    A-1        0.00000000       1.09968750      0.00000000         996.59396496
    X-1        0.00000000       0.66666666      0.00000000         963.42138608
    A-2        0.00000000       1.17000000      0.00000000         992.44378940
    X-2        0.00000000       0.35095222      0.00000000         995.93294618
    B-1        0.00000000       1.30218763      0.00000000        1000.00000000
    X-B        0.00000000       0.64338585      0.00000000        1000.00000000
    B-2        0.00000000       1.79718690      0.00000000        1000.00000000
    B-3        0.00000000       2.12850532      0.00000000        1000.00000000
    B-4        0.00000000       2.12850594      0.00000000        1000.00000000
    B-5        0.00000000       2.12850512      0.00000000        1000.00000000
    B-6        0.00000000       2.12850606      0.00000000        1000.00000000
    A-R        0.00000000       2.10000000      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                                        5,262,466.94
         Liquidations, Insurance Proceeds, Reserve Funds                                   0.00
         Proceeds from Repurchased Loans                                                   0.00
         Other Amounts (Servicer Advances)                                               806.25
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                         0.00
         Prepayment Penalties                                                              0.00
                                                                                   ------------
Total Deposits                                                                     5,263,273.19

Withdrawals
         Reimbursement for Servicer Advances                                               0.00
         Payment of Service Fee                                                      311,894.37
         Payment of Interest and Principal                                         4,951,378.82
                                                                                   ------------
Total Withdrawals (Pool Distribution Amount)                                       5,263,273.19

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                                                   307,416.75
Master Servicing Fee                                                    4,477.62
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------

Net Servicing Fee                                                     311,894.37
                                                                      ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                              Beginning          Current          Current      Ending
         Account Type                          Balance         Withdrawals       Deposits      Balance
         ------------                         ---------        -----------       --------     --------
<S>                                           <C>              <C>               <C>          <C>
Class 1-A Companion Sub Account                4,000.00           0.00             0.00       4,000.00
Class 1-A NAS Sub Account                      1,000.00           0.00             0.00       1,000.00
Class 2-A Companion Sub Account                2,000.00           0.00             0.00       2,000.00
Class 2-A NAS Sub Account                        500.00           0.00             0.00         500.00
Class X-B Sub Account                          2,000.00           0.00             0.00       2,000.00
</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            1        322,500.00   30 Days         0          0.00     30 Days         0          0.00
60 Days            0              0.00   60 Days         0          0.00     60 Days         0          0.00
90 Days            0              0.00   90 Days         0          0.00     90 Days         0          0.00
120 Days           0              0.00   120 Days        0          0.00     120 Days        0          0.00
150 Days           0              0.00   150 Days        0          0.00     150 Days        0          0.00
180+ Days          0              0.00   180+ Days       0          0.00     180+ Days       0          0.00
               -----------------------               ---------------------               ---------------------
                   1        322,500.00                   0          0.00                     0          0.00

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

0-29 Days      0.000000%    0.000000%    0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days        0.035702%    0.033141%    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%
               -----------------------               ---------------------               ---------------------
               0.035702%    0.033141%                0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                REO                                  TOTAL
----------------------------------   ------------------------------------
               No. of    Principal                 No. of      Principal
               Loans      Balance                  Loans        Balance
<S>          <C>         <C>         <C>         <C>           <C>
0-29 Days        0          0.00     0-29 Days       0               0.00
30 Days          0          0.00     30 Days         1         322,500.00
60 Days          0          0.00     60 Days         0               0.00
90 Days          0          0.00     90 Days         0               0.00
120 Days         0          0.00     120 Days        0               0.00
150 Days         0          0.00     150 Days        0               0.00
180+ Days        0          0.00     180+ Days       0               0.00
             ---------------------               ------------------------
                 0          0.00                     1         322,500.00

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

0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%     0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.035702%     0.033141%
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%               0.035702%     0.033141%
</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   806.25
</TABLE>

<PAGE>

                  SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS
                      PERCENTAGE AND PREPAYMENT PERCENTAGE

<TABLE>
<CAPTION>
                  Original $           Original%         Current $        Current %      Current Class %    Prepayment %
                  ----------           ---------         ---------        ---------      ---------------    ------------
<S>             <C>                   <C>              <C>               <C>             <C>                <C>
Class A         35,170,267.00         3.60004973%      35,170,267.00     3.61422014%        96.385780%        0.000000%
Class X-1       35,170,267.00         3.60004973%      35,170,267.00     3.61422014%         0.000000%        0.000000%
Class X-2       35,170,267.00         3.60004973%      35,170,267.00     3.61422014%         0.000000%        0.000000%
Class B-1       21,004,267.00         2.15000943%      21,004,267.00     2.15847223%         1.455748%       40.278341%
Class B-2       12,700,267.00         1.30000698%      12,700,267.00     1.30512403%         0.853348%       23.610853%
Class B-3        7,816,267.00         0.80007780%       7,816,267.00     0.80322704%         0.501897%       13.886730%
Class B-4        5,373,267.00         0.55001085%       5,373,267.00     0.55217579%         0.251051%        6.946208%
Class B-5        3,908,267.00         0.40005257%       3,908,267.00     0.40162724%         0.150549%        4.165450%
Class B-6                0.00         0.00000000%               0.00     0.00000000%         0.401627%       11.112418%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
-------------------------------------    ---------------------------------   ---------------------------------
POOL 1 -- 1 MO LIBOR
                 No. of     Principal                  No. of    Principal                 No. of    Principal
                 Loans       Balance                   Loans      Balance                  Loans      Balance
<S>            <C>          <C>          <C>         <C>         <C>         <C>         <C>         <C>
0-29 Days          0           0.00      0-29 Days       0          0.00     0-29 Days       0          0.00
30 Days            0           0.00      30 Days         0          0.00     30 Days         0          0.00
60 Days            0           0.00      60 Days         0          0.00     60 Days         0          0.00
90 Days            0           0.00      90 Days         0          0.00     90 Days         0          0.00
120 Days           0           0.00      120 Days        0          0.00     120 Days        0          0.00
150 Days           0           0.00      150 Days        0          0.00     150 Days        0          0.00
180+ Days          0           0.00      180+ Days       0          0.00     180+ Days       0          0.00
               ----------------------                ---------------------               ---------------------
                   0           0.00                      0          0.00                     0          0.00

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

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

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

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

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

<PAGE>

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
--------------------------------------   ---------------------------------   ---------------------------------
POOL 1 -- 6 MO LIBOR
                 No. of     Principal                  No. of    Principal                 No. of    Principal
                 Loans       Balance                   Loans      Balance                  Loans      Balance
<S>            <C>          <C>          <C>         <C>         <C>         <C>         <C>         <C>
0-29 Days          0              0.00   0-29 Days       0          0.00     0-29 Days       0          0.00
30 Days            1        322,500.00   30 Days         0          0.00     30 Days         0          0.00
60 Days            0              0.00   60 Days         0          0.00     60 Days         0          0.00
90 Days            0              0.00   90 Days         0          0.00     90 Days         0          0.00
120 Days           0              0.00   120 Days        0          0.00     120 Days        0          0.00
150 Days           0              0.00   150 Days        0          0.00     150 Days        0          0.00
180+ Days          0              0.00   180+ Days       0          0.00     180+ Days       0          0.00
               -----------------------               ---------------------               ---------------------
                   1        322,500.00                   0          0.00                     0          0.00

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

0-29 Days      0.000000%    0.000000%    0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days        0.047985%    0.046126%    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%
               -----------------------               ---------------------               ---------------------
               0.047985%    0.046126%                0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                REO                                 TOTAL
----------------------------------   -----------------------------------
POOL 1 -- 6 MO LIBOR
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance
<S>          <C>         <C>         <C>         <C>          <C>
0-29 Days        0          0.00     0-29 Days       0              0.00
30 Days          0          0.00     30 Days         1        322,500.00
60 Days          0          0.00     60 Days         0              0.00
90 Days          0          0.00     90 Days         0              0.00
120 Days         0          0.00     120 Days        0              0.00
150 Days         0          0.00     150 Days        0              0.00
180+ Days        0          0.00     180+ Days       0              0.00
             ---------------------               -----------------------
                 0          0.00                     1        322,500.00

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

0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.047985%    0.046126%
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%               0.047985%    0.046126%
</TABLE>

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
-------------------------------------    ---------------------------------   ---------------------------------
POOL 2
                 No. of     Principal                  No. of    Principal                 No. of    Principal
                 Loans       Balance                   Loans      Balance                  Loans      Balance
<S>            <C>          <C>          <C>         <C>         <C>         <C>         <C>         <C>
0-29 Days          0           0.00      0-29 Days       0          0.00     0-29 Days       0          0.00
30 Days            0           0.00      30 Days         0          0.00     30 Days         0          0.00
60 Days            0           0.00      60 Days         0          0.00     60 Days         0          0.00
90 Days            0           0.00      90 Days         0          0.00     90 Days         0          0.00
120 Days           0           0.00      120 Days        0          0.00     120 Days        0          0.00
150 Days           0           0.00      150 Days        0          0.00     150 Days        0          0.00
180+ Days          0           0.00      180+ Days       0          0.00     180+ Days       0          0.00
               ----------------------                ---------------------               ---------------------
                   0           0.00                      0          0.00                     0          0.00

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

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

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

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
          Collateral Description                                 Mixed Arm
<S>                                                            <C>
Weighted Average Gross Coupon                                       2.937315%
Weighted Average Net Coupon                                         2.559706%
Weighted Average Pass-Through Rate                                  2.554206%
Weighted Average Maturity (Stepdown Calculation)                         322

Beginning Scheduled Collateral Loan Count                              2,805
Number of Loans Paid in Full                                               4
Ending Scheduled Collateral Loan Count                                 2,801

Beginning Scheduled Collateral Balance                        976,938,367.00
Ending Scheduled Collateral Balance                           973,108,046.81
Ending Actual Collateral Balance at 31-Dec-2003               973,108,438.42

Monthly P&I Constant                                            2,391,312.96
Special Servicing Fee                                                   0.00
Prepayment Penalties                                                    0.00
Realized Loss Amount                                                    0.00
Cumulative Realized Loss                                                0.00

Class A Optimal Amount                                          5,834,879.63

Ending Scheduled Balance for Premium Loans                    973,108,046.81

Scheduled Principal                                                     0.00
Unscheduled Principal                                           3,830,321.14
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
          GROUP                          POOL 1 -- 1 MO LIBOR   POOL 1 -- 6 MO LIBOR         POOL 2                TOTAL
Collateral Description                     1 Month LIBOR ARM      6 Month LIBOR ARM     6 MonthLIBOR ARM         Mixed ARM
<S>                                      <C>                    <C>                     <C>                 <C>
Weighted Average Coupon Rate                        2.800697               2.963000             2.926419          2.937315
Weighted Average Net Rate                           2.410377               2.587326             2.549852          2.559706
Pass-Through Rate                                   2.404877               2.581826             2.544352          2.554206
Weighted Average Maturity                                307                    324                  323               322
Record Date                                       12/31/2003             12/31/2003           12/31/2003        12/31/2003
Principal and Interest Constant                   278,985.49           1,732,861.95           379,465.52      2,391,312.96
Beginning Loan Count                                     243                  2,087                  475             2,805
Loans Paid in Full                                         0                      3                    1                 4
Ending Loan Count                                        243                  2,804                  474             2,801
Beginning Scheduled Balance                   119,535,472.03         701,800,234.90       155,602,661.02    976,938,367.95
Ending Scheduled Balance                      119,466,562.00         699,172,255.38       154,469,229.43    973,108,046.81
Scheduled Principal                                     0.00                   0.00                 0.00              0.00
Unscheduled Principal                              68,910.03           2,627,979.52         1,133,431.59      3,830,321.14
Scheduled Interest                                278,985.49           1,732,861.95           379,465.52      2,391,312.96
Servicing Fee                                      38,880.88             219,706.79            48,829.08        307,416.75
Master Servicing Fee                                  547.87               3,216.57               713.18          4,477.62
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                                      239,556.74           1,509,938.59           329,923.26      2,079,418.59
Realized Loss Amount                                    0.00                   0.00                 0.00              0.00
Cumulative Realized Loss                                0.00                   0.00                 0.00              0.00
Percentage of Cumulative Losses                         0.00                   0.00                 0.00              0.00
Prepayment Penalties                                    0.00                   0.00                 0.00              0.00
Special Servicing Fee                                   0.00                   0.00                 0.00              0.00
</TABLE>

<PAGE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
Group Pool 1 -- 1 Mo LIBOR
                       Interest Transfer Amount                         0.00
                       Principal Transfer Amount                        0.00
                       Prorata Senior Percent                      96.400058%
                       Senior Percentage                           96.400058%
                       Senior Prepayment Percentage               100.000000%
                       Subordinate Percentage                       3.599942%
                       Subordinate Prepayment Percentage            0.000000%

 Group Pool 1 -- 6 Mo LIBOR
                       Interest Transfer Amount                         0.00
                       Principal Transfer Amount                        0.00
                       Prorata Senior Percent                      96.399380%
                       Senior Percentage                           96.399380%
                       Senior Prepayment Percentage               100.000000%
                       Subordinate Percentage                       3.600620%
                       Subordinate Prepayment Percentage            0.000000%
</TABLE>

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