Document:

<PAGE>

                                  EXHIBIT 10.1

The Bank of New York
Corporate Trust and Agency Services
5 Penn Plaza, 16th Floor
New York, NY 10001
Patricia O'Neil Manella
(212) 328-7574

Distribution Date: May 30, 2003

                      SEQUOIA MORTGAGE FUNDING CORPORATION
                 COLLATERALIZED MBS FUNDING BONDS, SERIES 2002-A

                    CERTIFICATE MONTHLY DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                          BEGINNING      PASS           INTEREST       PRINCIPAL       TOTAL        REALIZED    ENDING CERT
 CLASS       CUSIP      CERT BALANCE    THROUGH       DISTRIBUTION   DISTRIBUTION   DISTRIBUTION     LOSSES       BALANCE
----------------------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>             <C>           <C>            <C>            <C>             <C>        <C>
  A-1      81743UAA3    41,088,054.37   1.915000%      65,569.69     1,881,579.59   1,947,149.27      0.00     39,206,474.79
  A-2      81743UAB1    12,243,466.90   2.065000%      21,068.97       149,944.74     171,013.71      0.00     12,093,522.16
----------------------------------------------------------------------------------------------------------------------------
 Total                  53,331,521.28                  86,638.65     2,031,524.33   2,118,162.98      0.00     51,299,996.95
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

                           CURRENT PAYMENT INFORMATION
                                FACTORS PER $1.00

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------
                              ORIGINAL CERT     BEGINNING       INTEREST      PRINCIPAL       ENDING        CURRENT PASS
   CLASS          CUSIP          BALANCE         FACTOR          FACTOR        FACTOR         FACTOR          THROUGH
-------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>              <C>              <C>           <C>             <C>            <C>
    A-1         81743UAA3    64,761,000.00    634.456762166    1.012487250   29.054208367    605.402553799     1.915000%
    A-2         81743UAB1    15,861,000.00    771.922760460    1.328350417    9.453675039    762.469085421     2.065000%
-------------------------------------------------------------------------------------------------------------------------
   Total                     80,622,000.00    661.500846894    1.074627927   25.198138571    636.302708323
-------------------------------------------------------------------------------------------------------------------------
</TABLE>

             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION - GROUP I

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
                             ORIGINAL        BEGINNING       PASS         INTEREST      PRINCIPAL        TOTAL
   SERIES        CLASS       BALANCE          BALANCE       THROUGH     DISTRIBUTION  DISTRIBUTION   DISTRIBUTION
-----------------------------------------------------------------------------------------------------------------
<S>              <C>      <C>              <C>              <C>         <C>           <C>            <C>
  CWMBS 94K        A1     123,119,000.00    1,180,872.87    4.099612%     4,034.27      362,323.97     366,358.24
DLJMA 93-Q18      1A1      51,833,000.00      199,427.87    5.109685%       849.18       51,808.98      52,658.16
 DLJMA 94-2A      1A1      85,787,000.00      587,871.73    5.346993%     2,619.45        1,852.02       4,471.47
  ONE 00-2         2A     152,653,000.00    7,551,961.85    4.478005%    28,181.44      350,322.35     378,503.79
 RYMS3 92-B       1A2       7,712,906.00            0.00    0.000000%         0.00            0.00           0.00
  SBM7 94-2        A1      49,384,000.00    1,260,924.38    6.225102%     6,541.15      122,133.99     128,675.15
  SMS 91-K         A1     110,588,063.00            0.00    0.000000%         0.00            0.00           0.00
  SMS 91-K         A3       1,917,885.00            0.00    0.000000%         0.00            0.00           0.00
 EAGLE 98-1        M1      46,029,000.00   18,858,069.95    2.320000%    38,889.52      615,925.85     654,815.36
 INMC 94-R         M2       4,620,000.00    2,479,803.98    4.826946%     9,974.90      183,611.42     193,586.32
 INMC 94-V         B1       3,618,000.00    1,427,086.75    4.587102%     5,455.16      114,923.92     120,379.08
 INMC 94-X         B1       2,769,000.00    1,202,995.55    5.034054%     5,046.62       63,951.13      68,997.75
 INMC 95-C         B1      12,828,797.00    4,192,130.85    5.268122%    18,403.88        8,941.07      27,344.95
 INMC 95-T         A2      65,695,250.00    2,801,407.20    4.660331%    10,879.57        5,784.89      16,664.46
-----------------------------------------------------------------------------------------------------------------
    Total                 718,554,901.00   41,742,552.97                130,875.14    1,881,579.59   2,012,454.73
-----------------------------------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------
                            REALIZED   INTEREST    ENDING
   SERIES         CLASS      LOSSES   SHORTFALL    BALANCE
--------------------------------------------------------------
<S>               <C>       <C>       <C>        <C>
  CWMBS 94K         A1        0.00       0.00       818,548.90
DLJMA 93-Q18       1A1        0.00       0.00       147,618.89
 DLJMA 94-2A       1A1        0.00       0.00       586,019.72
  ONE 00-2          2A        0.00       0.00     7,201,639.49
 RYMS3 92-B        1A2        0.00       0.00             0.00
  SBM7 94-2         A1        0.00       0.00     1,138,790.38
  SMS 91-K          A1        0.00       0.00             0.00
  SMS 91-K          A3        0.00       0.00             0.00
 EAGLE 98-1         M1        0.00       0.00    18,242,144.10
 INMC 94-R          M2        0.00       0.00     2,296,192.56
 INMC 94-V          B1        0.00       0.00     1,312,162.83
 INMC 94-X          B1        0.00       0.00     1,139,044.42
 INMC 95-C          B1        0.00       0.00     4,183,189.78
 INMC 95-T          A2        0.00       0.00     2,795,622.31
--------------------------------------------------------------
    Total                     0.00       0.00    39,860,973.38
--------------------------------------------------------------
</TABLE>

<PAGE>

             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION - GROUP II

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------
                             ORIGINAL         BEGINNING       PASS         INTEREST     PRINCIPAL        TOTAL
   SERIES         CLASS       BALANCE          BALANCE       THROUGH     DISTRIBUTION  DISTRIBUTION   DISTRIBUTION
------------------------------------------------------------------------------------------------------------------
<S>               <C>     <C>               <C>              <C>         <C>           <C>            <C>
GRCAP 94-HM4       A1     245,813,000.00       443,307.98    4.559838%     1,684.51       9,008.30       10,692.81
  INMC 95-E        B1       4,608,492.00     2,736,014.83    4.615045%    10,522.36       8,022.67       18,545.03
  PMLT 99-A        M1       2,914,000.00     2,176,379.62    2.581331%     4,681.63      41,370.30       46,051.93
   RTC 95-2        A3     119,696,000.00     7,048,918.44    3.723195%    21,870.41      91,543.47      113,413.88
------------------------------------------------------------------------------------------------------------------
      Total               373,031,492.00    12,404,620.87                 38,758.92     149,944.74      188,703.65
------------------------------------------------------------------------------------------------------------------

<CAPTION>
------------------------------------------------------------
                          REALIZED  INTEREST      ENDING
   SERIES        CLASS     LOSSES   SHORTFALL     BALANCE
------------------------------------------------------------
<S>              <C>      <C>       <C>        <C>
GRCAP 94-HM4      A1        0.00       0.00       434,299.68
  INMC 95-E       B1        0.00       0.00     2,727,992.16
  PMLT 99-A       M1        0.00       0.00     2,135,009.32
   RTC 95-2       A3        0.00       0.00     6,957,374.97
------------------------------------------------------------
      Total                 0.00       0.00    12,254,676.13
------------------------------------------------------------
</TABLE>

                 UNDERLYING POOL DELINQUENT INFORMATION BY GROUP

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
                         LOANS
                      OUTSTANDING     DELINQUENT 30-59 DAYS   DELINQUENT 60-89 DAYS   DELINQUENT 90+ DAYS      FORECLOSURE
    SERIES              BALANCE       NO.        BALANCE      NO.        BALANCE      NO.      BALANCE      NO.      BALANCE
------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>               <C>     <C>             <C>     <C>             <C>   <C>             <C>   <C>
   CWMBS 94K          8,475,733.38     0              0.00     1         61,491.70     0             0.00    1      238,478.93
DLJMA 93-Q18(1)       3,307,391.99     0              0.00     2         90,600.11     0             0.00    0            0.00
DLJMA 94-2A(1)          952,091.68     0              0.00     0              0.00     0             0.00    0            0.00
  ONE 00-2(2)       303,957,855.83    63      8,283,007.00     9        958,766.00    34     6,128,026.00   18    3,006,942.00
 RYMS3 92-B(2)                0.00     0              0.00     0              0.00     0             0.00    0            0.00
 SBM7 94-2(2)         4,213,871.07     0              0.00     0              0.00     0             0.00    1      116,855.04
   SMS 91-K                   0.00     0              0.00     0              0.00     0             0.00    0            0.00
  EAGLE 98-1         28,744,384.71    16      1,345,595.58     6        514,987.92    28     3,143,983.12   14    1,612,996.08
   INMC 94-R          7,049,844.65     0              0.00     1        101,358.67     0             0.00    3    1,407,396.56
   INMC 94-V          5,871,316.89     2        195,250.63     0              0.00     0             0.00    0            0.00
   INMC 94-X          5,383,033.52     3        405,127.96     1        137,282.16     2       191,346.97    2      546,123.28
   INMC 95-C          8,288,847.15     7      1,027,368.67     1         68,769.69     0             0.00    5      679,690.89
 INMC 95-T(2)         7,723,825.24     3        592,319.93     1        459,254.55     0             0.00    1       80,208.41
------------------------------------------------------------------------------------------------------------------------------
     Total          383,968,196.11    94      11,848,669.77    22     2,392,510.80    64    9,463,356.09    45    7,688,691.19
------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
---------------------------------------------------------
                           REO            REALIZED LOSSES
    SERIES           NO.    BALANCE        CURR. AMOUNT
---------------------------------------------------------
<S>                 <C>    <C>            <C>
   CWMBS 94K         0             0.00           0.00
DLJMA 93-Q18(1)      0             0.00           0.00
DLJMA 94-2A(1)       0             0.00           0.00
  ONE 00-2(2)        6       508,870.00      78,207.65
 RYMS3 92-B(2)       0             0.00           0.00
 SBM7 94-2(2)        1       125,961.28           0.00
   SMS 91-K          0             0.00           0.00
  EAGLE 98-1        17     1,932,960.20           0.00
   INMC 94-R         1        54,327.76           0.00
   INMC 94-V         0             0.00           0.00
   INMC 94-X         0             0.00           0.00
   INMC 95-C         0             0.00           0.00
 INMC 95-T(2)        0             0.00           0.00
---------------------------------------------------------
     Total          25     2,622,119.24      78,207.65
---------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
                    LOANS
                 OUTSTANDING    DELINQUENT 30-59 DAYS    DELINQUENT 60-89 DAYS   DELINQUENT 90+ DAYS       FORECLOSURE
   SERIES          BALANCE      NO.       BALANCE        NO.        BALANCE      NO.         BALANCE      NO.      BALANCE
------------------------------------------------------------------------------------------------------------------------------
<S>            <C>              <C>     <C>              <C>     <C>             <C>      <C>             <C>    <C>
GRCAP 94-HM4     6,012,262.79     0              0.00      0             0.00     0                0.00     0             0.00
  INMC 95-E     13,154,057.26     4        558,835.95      3     1,344,712.27     2           89,977.34     5       573,084.32
  PMLT 99-A     30,213.979.83    35      2,673,239.07      6       424,017.92     6          384,920.82    23     1,560,410.65
 RTC 95-2(1)    20,754,950.56     5        338,430.47      2       202,368.88     4          301,347.52     3       191,482.78
------------------------------------------------------------------------------------------------------------------------------
    Total       70,135,250.44    44      3,570,505.49     11     1,971,099.07    12          776,245.68    31     2,324,977.75
------------------------------------------------------------------------------------------------------------------------------
  Total All    454,103,446.55   138     15,419,175.26     33     4,363,609.87    76       10,239,601.77    76    10,013,668.94
------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
-----------------------------------------------------
                     REO              REALIZED LOSSES
   SERIES      NO.      BALANCE        CURR. AMOUNT
-----------------------------------------------------
<S>            <C>    <C>             <C>
GRCAP 94-HM4    0             0.00         0.00
  INMC 95-E     0             0.00         0.00
  PMLT 99-A     3       435,173.67         0.00
 RTC 95-2(1)    0             0.00         0.00
-----------------------------------------------------
    Total       3       435,173.67         0.00
-----------------------------------------------------
  Total All    28     3,057,292.91    78,207.65
-----------------------------------------------------
</TABLE>

(1)      Information shown for the Underlying Mortgage Loans for this Pooled
         Security is based on the Underlying Mortgage Loan group related to such
         Pooled Security only.

(2)      Information shown for the Underlying Mortgage Loans for this Pooled
         Security is based on all the Underlying Mortgage Loan groups in the
         related series.

<PAGE>

                         CERTIFICATE ACCOUNT INFORMATION

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                WITHDRAWALS                                                            ENDING
GROUP    BEGINNING BALANCE   FUNDS DEPOSITED    TRUSTEE FEE    MANAGEMENT FEE   AVAILABLE FUNDS    FUNDS DISTRIBUTED   BALANCE
--------------------------------------------------------------------------------------------------------------------------------
<S>      <C>                 <C>                <C>            <C>              <C>                <C>                 <C>
  I            0.00            2,012,454.73      1,043.56           385.21        2,011,025.95       1,947,149.27      63,876.67
 II            0.00              188,703.65        310.12           114.79          188,278.75         171,013.71      17,265.05
--------------------------------------------------------------------------------------------------------------------------------
Total          0.00            2,201,158.38      1,353.68           500.00        2,199,304.70       2,118,162.98      81,141.72
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
              ADDITIONAL REPORTING ITEMS                       POOL I           POOL II          TOTAL
------------------------------------------------------------------------------------------------------------
<S>           <C>                                          <C>              <C>              <C>
2.15(a)       Available Interest                               130,875.14       38,758.92        169,634.05
------------------------------------------------------------------------------------------------------------
              Available Principal                            1,881,579.59      149,944.74      2,031,524.33
------------------------------------------------------------------------------------------------------------
2.15(b)       Monthly Interest Amt.                            see p. 1
------------------------------------------------------------------------------------------------------------
2.15(c)       Carryforward Interest                                  0.00            0.00              0.00
------------------------------------------------------------------------------------------------------------
2.15(d)       Principal Paid                                   see p. 1
------------------------------------------------------------------------------------------------------------
2.15(e)       Class Print Amts.                                see p. 1
------------------------------------------------------------------------------------------------------------
2.15(f)       Beginning Actual OC                                  1.5679%         1.2991%
------------------------------------------------------------------------------------------------------------
              Ending Actual OC                                     1.6420%         1.3150%
------------------------------------------------------------------------------------------------------------
2.15(g)       2nd preceding pool bal                       408,305,837.21   71,157,121.71    479,462,958.92
------------------------------------------------------------------------------------------------------------
2.15(h)       Required OC                                          2.7000%         2.0000%
------------------------------------------------------------------------------------------------------------
2.15(i)       Has Step-up Occurred?                               No              No
------------------------------------------------------------------------------------------------------------
2.15(k)       Monies Deposited to Reserve Fund                       0.00            0.00              0.00
------------------------------------------------------------------------------------------------------------
2.15(l)       Amts. Dist. to Investor Certificateholders        63,876.67       17,265.05         81,141.72
------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Management Fee is to be paid on an annual basis. This month's Fee together
with last month's annualized amount equals the full annual Fee.<PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2003-1
                           RECORD DATE: APRIL 30, 2003
                         DISTRIBUTION DATE: MAY 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                           Certificate                            Beginning
                              Class       Certificate Pass-      Certificate        Interest
Class          CUSIP       Description       Through Rate         Balance         Distribution
----------------------------------------------------------------------------------------------
<S>          <C>           <C>            <C>                 <C>                 <C>
 1A          81743PAA4         SEN             1.70938%         792,652,156.02    1,129,119.78
 2A          81743PAB2         SEN             1.74000%         188,580,815.69      273,442.18
X-1A         81743PAC0          IO             0.96505%                   0.00      145,503.37
X-1B         81743PAD8          IO             1.17154%                   0.00      597,217.51
 X-2         81743PAE6          IO             1.14816%                   0.00      180,434.23
 X-B         81743PAF3          IO             0.63486%                   0.00        8,414.57
 A-R         81743PAG1          R              2.81712%                   0.00            0.00
 B-1         81743PAH9         SUB             2.20938%          15,905,000.00       29,283.49
 B-2         81743PAJ5         SUB             2.84424%           8,210,000.00       19,459.36
 B-3         81743PAK2         SUB             2.84424%           5,644,000.00       13,377.42
 B-4         SEQ0301B4         SUB             2.84424%           2,565,000.00        6,079.57
 B-5         SEQ0301B5         SUB             2.84424%           1,539,000.00        3,647.74
 B-6         SEQ0301B6         SUB             2.84424%           4,105,618.00        9,731.14
----------------------------------------------------------------------------------------------
Totals                                                        1,019,201,589.71    2,415,710.36
----------------------------------------------------------------------------------------------

<CAPTION>
----------------------------------------------------------------------------------------------------------------
                          Principal        Current               Ending               Total          Cumulative
Class          CUSIP    Distribution     Realized Loss     Certificate Balance    Distribution     Realized Loss
----------------------------------------------------------------------------------------------------------------
<S>          <C>        <C>              <C>               <C>                   <C>               <C>
 1A          81743PAA4  8,127,050.00         0.00             784,525,106.02      9,256,169.78         0.00
 2A          81743PAB2  1,462,618.95         0.00             187,118,196.74      1,736,061.13         0.00
X-1A         81743PAC0          0.00         0.00                       0.00        145,503.37         0.00
X-1B         81743PAD8          0.00         0.00                       0.00        597,217.51         0.00
 X-2         81743PAE6          0.00         0.00                       0.00        180,434.23         0.00
 X-B         81743PAF3          0.00         0.00                       0.00          8,414.57         0.00
 A-R         81743PAG1          0.00         0.00                       0.00              0.00         0.00
 B-1         81743PAH9          0.00         0.00              15,905,000.00         29,283.49         0.00
 B-2         81743PAJ5          0.00         0.00               8,210,000.00         19,459.36         0.00
 B-3         81743PAK2          0.00         0.00               5,644,000.00         13,377.42         0.00
 B-4         SEQ0301B4          0.00         0.00               2,565,000.00          6,079.57         0.00
 B-5         SEQ0301B5          0.00         0.00               1,539,000.00          3,647.74         0.00
 B-6         SEQ0301B6          0.00         0.00               4,105,618.00          9,731.14         0.00
----------------------------------------------------------------------------------------------------------------
Totals                  9,589,668.95         0.00           1,009,611,920.76     12,005,379.31        00.00
----------------------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------
                                Beginning         Scheduled      Unscheduled
           Original Face       Certificate        Principal       Principal
Class          Amount            Balance         Distribution    Distribution
-----------------------------------------------------------------------------
<S>        <C>                <C>                 <C>             <C>
 1A         798,206,000.00     792,652,156.02        0.00        8,127,050.00
 2A         190,000,000.00     188,580,815.69        0.00        1,462,618.95
X-1A                  0.00               0.00        0.00                0.00
X-1B                  0.00               0.00        0.00                0.00
 X-2                  0.00               0.00        0.00                0.00
 X-B                  0.00               0.00        0.00                0.00
 A-R                100.00               0.00        0.00                0.00
 B-1         15,905,000.00      15,905,000.00        0.00                0.00
 B-2          8,210,000.00       8,210,000.00        0.00                0.00
 B-3          5,644,000.00       5,644,000.00        0.00                0.00
 B-4          2,565,000.00       2,565,000.00        0.00                0.00
 B-5          1,539,000.00       1,539,000.00        0.00                0.00
 B-6          4,105,618.00       4,105,618.00        0.00                0.00
         --------------------------------------------------------------------
Totals    1,026,174,718.00   1,019,201,589.71        0.00        9,589,668.95
-----------------------------------------------------------------------------

<CAPTION>
------------------------------------------------------------------------------------------------------------
                     Realized   Total Principal    Ending Certificate    Ending Certificate  Total Principal
Class   Accretion    Loss (1)     Reduction              Balance             Percentage       Distribution
------------------------------------------------------------------------------------------------------------
<S>     <C>          <C>        <C>                <C>                   <C>                 <C>
 1A       0.00         0.00      8,127,050.00         784,525,106.02         0.98286045        8,127,050.00
 2A       0.00         0.00      1,462,618.95         187,118,196.74         0.98483261        1,462,618.95
X-1A      0.00         0.00              0.00                   0.00         0.00000000                0.00
X-1B      0.00         0.00              0.00                   0.00         0.00000000                0.00
 X-2      0.00         0.00              0.00                   0.00         0.00000000                0.00
 X-B      0.00         0.00              0.00                   0.00         0.00000000                0.00
 A-R      0.00         0.00              0.00                   0.00         0.00000000                0.00
 B-1      0.00         0.00              0.00          15,905,000.00         1.00000000                0.00
 B-2      0.00         0.00              0.00           8,210,000.00         1.00000000                0.00
 B-3      0.00         0.00              0.00           5,644,000.00         1.00000000                0.00
 B-4      0.00         0.00              0.00           2,565,000.00         1.00000000                0.00
 B-5      0.00         0.00              0.00           1,539,000.00         1.00000000                0.00
 B-6      0.00         0.00              0.00           4,105,618.00         1.00000000                0.00
        ----------------------------------------------------------------------------------------------------
Totals    0.00         0.00      9,589,668.95       1,009,611,920.76         0.98385967        9,589,668.95
------------------------------------------------------------------------------------------------------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
                                Beginning      Scheduled      Unscheduled
           Original Face       Certificate     Principal       Principal
Class          Amount            Balance      Distribution    Distribution    Accretion
----------------------------------------------------------------------------------------
<S>        <C>                <C>             <C>             <C>             <C>
 1A        798,206,000.00      993.04209192    0.00000000      10.18164484    0.00000000
 2A        190,000,000.00      992.53060889    0.00000000       7.69799447    0.00000000
X-1A                 0.00        0.00000000    0.00000000       0.00000000    0.00000000
X-1B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000
 X-2                 0.00        0.00000000    0.00000000       0.00000000    0.00000000
 X-B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000
 A-R               100.00        0.00000000    0.00000000       0.00000000    0.00000000
 B-1        15,905,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-2         8,210,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-3         5,644,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-4         2,565,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-5         1,539,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-6         4,105,618.00     1000.00000000    0.00000000       0.00000000    0.00000000
----------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------------------------------------------
        Realized     Total Principal   Ending Certificate    Ending Certificate    Total Principal
Class   Loss (3)       Reduction            Balance             Percentage          Distribution
--------------------------------------------------------------------------------------------------
<S>    <C>           <C>               <C>                   <C>                   <C>
 1A    0.00000000      10.18164484        982.86044708           0.98286045          10.18164484
 2A    0.00000000       7.69799447        984.83261442           0.98483261           7.69799447
X-1A   0.00000000       0.00000000          0.00000000           0.00000000           0.00000000
X-1B   0.00000000       0.00000000          0.00000000           0.00000000           0.00000000
 X-2   0.00000000       0.00000000          0.00000000           0.00000000           0.00000000
 X-B   0.00000000       0.00000000          0.00000000           0.00000000           0.00000000
 A-R   0.00000000       0.00000000          0.00000000           0.00000000           0.00000000
 B-1   0.00000000       0.00000000       1000.00000000           1.00000000           0.00000000
 B-2   0.00000000       0.00000000       1000.00000000           1.00000000           0.00000000
 B-3   0.00000000       0.00000000       1000.00000000           1.00000000           0.00000000
 B-4   0.00000000       0.00000000       1000.00000000           1.00000000           0.00000000
 B-5   0.00000000       0.00000000       1000.00000000           1.00000000           0.00000000
 B-6   0.00000000       0.00000000       1000.00000000           1.00000000           0.00000000
--------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
                                                  Beginning                     Payment of
                                                 Certificate/      Current        Unpaid
          Original Face         Current            Notional        Accrued       Interest
Class         Amount         Certificate Rate      Balance         Interest      Shortfall
------------------------------------------------------------------------------------------
<S>      <C>                 <C>                <C>              <C>            <C>
 1A        798,206,000.00        1.70938%       792,652,156.02   1,129,119.79      0.00
 2A        190,000,000.00        1.74000%       188,580,815.69     273,442.18      0.00
X-1A                 0.00        0.96505%       180,927,468.34     145,503.37      0.00
X-1B                 0.00        1.17154%       611,724,688.67     597,217.51      0.00
 X-2                 0.00        1.14816%       188,580,815.69     180,434.23      0.00
 X-B                 0.00        0.63486%        15,905,000.00       8,414.57      0.00
 A-R               100.00        2.81712%                 0.00           0.00      0.00
 B-1        15,905,000.00        2.20938%        15,905,000.00      29,283.49      0.00
 B-2         8,210,000.00        2.84424%         8,210,000.00      19,459.36      0.00
 B-3         5,644,000.00        2.84424%         5,644,000.00      13,377.42      0.00
 B-4         2,565,000.00        2.84424%         2,565,000.00       6,079.57      0.00
 B-5         1,539,000.00        2.84424%         1,539,000.00       3,647.74      0.00
 B-6         4,105,618.00        2.84424%         4,105,618.00       9,731.14      0.00
------------------------------------------------------------------------------------------
Totals   1,026,174,718.00                                        2,415,710.37      0.00
------------------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------------------
                                                                Remaining        Ending
        Current    Non-Supported                                 Unpaid       Certificate/
       Interest      Interest       Realized  Total Interest    Interest       Notational
Class  Shortfall     Shortfall      Loss (4)   Distribution     Shortfall       Balance
-------------------------------------------------------------------------------------------
<S>    <C>         <C>              <C>       <C>               <C>          <C>
 1A      0.00          0.00           0.00     1,129,119.78       0.00       784,525,106.02
 2A      0.00          0.00           0.00       273,442.18       0.00       187,118,196.74
X-1A     0.00          0.00           0.00       145,503.37       0.00       179,416,941.90
X-1B     0.00          0.00           0.00       597,217.51       0.00       605,108,165.11
 X-2     0.00          0.00           0.00       180,434.23       0.00       187,118,196.74
 X-B     0.00          0.00           0.00         8,414.57       0.00        15,905,000.00
 A-R     0.00          0.00           0.00             0.00       0.00                 0.00
 B-1     0.00          0.00           0.00        29,283.49       0.00        15,905,000.00
 B-2     0.00          0.00           0.00        19,459.36       0.00         8,210,000.00
 B-3     0.00          0.00           0.00        13,377.42       0.00         5,644,000.00
 B-4     0.00          0.00           0.00         6,079.57       0.00         2,565,000.00
 B-5     0.00          0.00           0.00         3,647.74       0.00         1,539,000.00
 B-6     0.00          0.00           0.00         9,731.14       0.00         4,105,618.00
-------------------------------------------------------------------------------------------
Totals   0.00          0.00           0.00     2,415,710.36       0.00
-------------------------------------------------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                                                                    Payment of
                                 Current          Beginning                           Unpaid
             Original Face     Certificate      Certificate/      Current Accrued    Interest
Class (5)        Amount           Rate        Notional Balance        Interest      Shortfall
----------------------------------------------------------------------------------------------
<S>          <C>               <C>            <C>                 <C>               <C>
   1A        798,206,000.00      1.70938%        993.04209192        1.41457192     0.00000000
   2A        190,000,000.00      1.74000%        992.53060889        1.43916937     0.00000000
  X-1A                 0.00      0.96505%        987.71317881        0.79432713     0.00000000
  X-1B                 0.00      1.17154%        994.62924184        0.97104140     0.00000000
   X-2                 0.00      1.14816%        992.53060889        0.94965384     0.00000000
   X-B                 0.00      0.63486%       1000.00000000        0.52905187     0.00000000
   A-R               100.00      2.81712%          0.00000000        0.00000000     0.00000000
   B-1        15,905,000.00      2.20938%       1000.00000000        1.84114995     0.00000000
   B-2         8,210,000.00      2.84424%       1000.00000000        2.37020219     0.00000000
   B-3         5,644,000.00      2.84424%       1000.00000000        2.37020198     0.00000000
   B-4         2,565,000.00      2.84424%       1000.00000000        2.37020273     0.00000000
   B-5         1,539,000.00      2.84424%       1000.00000000        2.37020143     0.00000000
   B-6         4,105,618.00      2.84424%       1000.00000000        2.37020103     0.00000000
----------------------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------------------------------------
                                                                           Remaining
            Current      Non-Supported                                      Unpaid
            Interest        Interest       Realized       Total Interest    Interest      Ending Certificate/
Class (5)  Shortfall       Shortfall       Loss (6)        Distribution    Shortfall      Notational Balance
-------------------------------------------------------------------------------------------------------------
<S>        <C>           <C>              <C>             <C>              <C>            <C>
   1A      0.00000000      0.00000000     0.00000000        1.41457190     0.00000000         982.86044708
   2A      0.00000000      0.00000000     0.00000000        1.43916937     0.00000000         984.83261442
  X-1A     0.00000000      0.00000000     0.00000000        0.79432713     0.00000000         979.46696343
  X-1B     0.00000000      0.00000000     0.00000000        0.97104140     0.00000000         983.87115420
   X-2     0.00000000      0.00000000     0.00000000        0.94965384     0.00000000         984.83261442
   X-B     0.00000000      0.00000000     0.00000000        0.52905187     0.00000000        1000.00000000
   A-R     0.00000000      0.00000000     0.00000000        0.00000000     0.00000000          0.000000000
   B-1     0.00000000      0.00000000     0.00000000        1.84114995     0.00000000        1000.00000000
   B-2     0.00000000      0.00000000     0.00000000        2.37020219     0.00000000        1000.00000000
   B-3     0.00000000      0.00000000     0.00000000        2.37020198     0.00000000        1000.00000000
   B-4     0.00000000      0.00000000     0.00000000        2.37020273     0.00000000        1000.00000000
   B-5     0.00000000      0.00000000     0.00000000        2.37020143     0.00000000        1000.00000000
   B-6     0.00000000      0.00000000     0.00000000        2.37020103     0.00000000        1000.00000000
-------------------------------------------------------------------------------------------------------------
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                             12,334,720.10
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                       0.00
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          12,334,720.10

Withdrawals
         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            329,340.79
         Payment of Interest and Principal                              12,005,379.31
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            12,334,720.10

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                                      320,847.45
Master Servicing Fee                                       8,493.34
Supported Prepayment/Curtailment Interest Shortfall            0.00
                                                         ----------

Net Servicing Fee                                        329,340.79
                                                         ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                            Beginning          Current          Current       Ending
           Account Type                      Balance         Withdrawals       Deposits       Balance
-----------------------------------------------------------------------------------------------------
<S>                                         <C>              <C>               <C>           <C>
Class X-1 Reserve Fund Sub Account          5,000.00            0.00             0.00        5,000.00
Class X-2 Reserve Fund Sub Account          2,500.00            0.00             0.00        2,500.00
Class X-B Reserve Fund Sub Account          2,500.00            0.00             0.00        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            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>

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

<PAGE>

<TABLE>
<CAPTION>
               Original $         Original %      Current $          Current %      Current Class %     Prepayment %
            ----------------    -----------    ----------------    -------------    ---------------    -------------
<S>         <C>                 <C>            <C>                 <C>              <C>                <C>
Class A     1,026,174,618.00    99.99999026%   1,009,611,920.76    100.00000000%       96.239286%          0.000000%
Class 1A      227,968,618.00    22.21538048%     225,086,814.74     22.29438957%       77.705610%      2,066.246146%
Class 2A       37,968,618.00     3.70001495%      37,968.618.00      3.76071411%       18.533675%        492.823301%
Class X-2      37,968,618.00     3.70001495%      37,968,618.00      3.76071411%        0.000000%          0.000000%
Class B-1      22,063,618.00     2.15008396%      22,063,618.00      2.18535633%        1.575358%         41.889858%
Class B-2      13,853,618.00     1.35002527%      13,853,618.00      1.37217259%        0.813184%         21.623120%
Class B-3       8,209,618.00     0.80002146%       8,209,618.00      0.81314591%        0.559027%         14.864908%
Class B-4       5,644,618.00     0.55006403%       5,644,618.00      0.55908789%        0.254058%          6.755579%
Class B-5       4,105,618.00     0.40008957%       4,105,618.00      0.40665308%        0.152435%          4.053347%
Class B-6               0.00     0.00000000%               0.00      0.00000000%        0.406653%         10.813188%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     POOL 1

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
              DELINQUENT                              BANKRUPTCY                           FORECLOSURE
-----------------------------------------------------------------------------------------------------------------
<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            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>

                                     POOL 2

<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            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>

                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                    3.232002%
Weighted Average Net Coupon                                      2.854239%
Weighted Average Pass-Through Rate                               2.844239%
Weighted Average Maturity (Stepdown Calculation)                      324

Beginning Scheduled Collateral Loan Count                           2,858
Number of Loans Paid in Full                                           20
Ending Scheduled Collateral Loan Count                              2,838

Beginning Scheduled Collateral Balance                   1,019,201,589.71
Ending Scheduled Collateral Balance                      1,009,611,920.76
Ending Actual Collateral Balance at 30-Apr-2003          1,009,613,028.17

Monthly P&I Constant                                         2,745,051.71
Special Servicing Fee                                                0.00
Prepayment Penalties                                                 0.00
Realization Loss Amount                                              0.00
Cumulative Realized Loss                                             0.00

Class A Optimal Amount                                      11,915,386.03

Ending Scheduled Balance for Premium Loans               1,009,611,920.76

Scheduled Principal                                                  0.00
Unscheduled Principal                                        9,589,668.95
</TABLE>

                            MISCELLANEOUS REPORTING

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

<PAGE>

<TABLE>
<CAPTION>
              GROUP                           1                 2                 TOTAL
<S>                                     <C>               <C>                <C>
                                                             6 Month
Collateral Description                    Mixed ARM         LIBOR ARM           Mixed ARM
Weighted Average Coupon Rate                  3.222210          3.273161             3.232002
Weighted Average Net Rate                     2.843789          2.898161             2.854239
Pass-Through Rate                             2.833789          2.888161             2.844239
Weighted Average Maturity                          322               330                  324
Record Date                                 04/30/2003        04/30/2003           04/30/2003
Principal and Interest Constant           2,210,760.45        534,290.72         2,745,051.17
Beginning Loan Count                             2,280               578                2,858
Loans Paid in Full                                  17                 3                   20
Ending Loan Count                                2,263               575                2,838
Beginning Scheduled Balance             823,320,932.02    195,880,657.69     1,019,201,589.71
Ending Scheduled Balance                815,193,882.02    194,418,038.74     1,009,611,920.76
Scheduled Principal                               0.00              0.00                 0.00
Unscheduled Principal                     8,127,050.00      1,462,618.95         9,589,668.95
Scheduled Interest                        2,210,760.45        534,290.72         2,745,051.17
Servicing Fee                               259,634.74         61,212.71           320,847.45
Master Servicing Fee                          6,861.00          1,632.34             8,493.34
Trustee Fee                                       0.00              0.00                 0.00
FRY Amount                                        0.00              0.00                 0.00
Special Hazard Fee                                0.00              0.00                 0.00
Other Fee                                         0.00              0.00                 0.00
Pool Insurance Fee                                0.00              0.00                 0.00
Spread 1                                          0.00              0.00                 0.00
Spread 2                                          0.00              0.00                 0.00
Spread 3                                          0.00              0.00                 0.00
Net Interest                              1,944,264.71        471,445.67         2,415,710.38
Realized Loss Amount                              0.00              0.00                 0.00
Cumulative Realized Loss                          0.00              0.00                 0.00
Percentage of Cumulative Losses                   0.00              0.00                 0.00
Prepayment Penalties                              0.00              0.00                 0.00
Special Servicing Fee                             0.00              0.00                 0.00
</TABLE>

<PAGE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Group Pool 1
One Month Libor Loan Balance                                     186,430,736.33
Six Month Libor Loan Balance                                     628,763,145.69
Senior Percent                                                       100.000000%
Senior Prepayment Percent                                            100.000000%
Subordinate Percent                                                    0.000000%
Subordinate Prepayment Percent                                         0.000000%

Group Pool 2
Six Month Libor Loan Balance                                     194,418,038.74
Senior Percent                                                       100.000000%
Senior Prepayment Percent                                            100.000000%
Subordinate Percent                                                    0.000000%
Subordinate Prepayment Percent                                         0.000000%
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]