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 2003-1
                         RECORD DATE: SEPTEMBER 30, 2003
                       DISTRIBUTION DATE: OCTOBER 20, 2003

                     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>
  1A    81743PAA4      SEN           1.50000%      737,456,382.51    921,820.48  11,019,494.04
  2A    81743PAB2      SEN           1.59000%      176,219,185.35    233,490.42   1,135,379.50
 X-1A   81743PAC0       IO           0.90358%                0.00    125,602.33           0.00
 X-1B   81743PAD8       IO           1.11011%                0.00    527,902.24           0.00
  X-2   81743PAE6       IO           1.03007%                0.00    151,265.15           0.00
  X-B   81743PAF3       IO           0.57429%                0.00      7,611.73           0.00
  A-R   81743PAG1       R            2.74621%                0.00          0.00           0.00
  B-1   81743PAH9      SUB           2.00000%       15,905,000.00     26,508.33           0.00
  B-2   81743PAJ5      SUB           2.57429%        8,210,000.00     17,612.43           0.00
  B-3   81743PAK2      SUB           2.57429%        5,644,000.00     12,107.74           0.00
  B-4   SEQ0301B4      SUB           2.57429%        2,565,000.00      5,502.54           0.00
  B-5   SEQ0301B5      SUB           2.57429%        1,539,000.00      3,301.53           0.00
  B-6   SEQ0301B6      SUB           2.57429%        4,105,618.00      8,807.54           0.00
----------------------------------------------------------------------------------------------
Totals                                             951,644,185.86  2,041,532.46  12,154,873.54
----------------------------------------------------------------------------------------------
<CAPTION>
                      Current     Ending Certificate     Total        Cumulative
Class    CUSIP     Realized Loss       Balance        Distribution   Realized Loss
----------------------------------------------------------------------------------
<S>     <C>        <C>            <C>                 <C>            <C>
  1A    81743PAA4      0.00         726,436,888.47    11,941,314.52      0.00
  2A    81743PAB2      0.00         175,083,805.85     1,368,869.92      0.00
 X-1A   81743PAC0      0.00                   0.00       125,602.33      0.00
 X-1B   81743PAD8      0.00                   0.00       527,902.24      0.00
  X-2   81743PAE6      0.00                   0.00       151,265.15      0.00
  X-B   81743PAF3      0.00                   0.00         7,611.73      0.00
  A-R   81743PAG1      0.00                   0.00             0.00      0.00
  B-1   81743PAH9      0.00          15,905,000.00        26,508.33      0.00
  B-2   81743PAJ5      0.00           8,210,000.00        17,612.43      0.00
  B-3   81743PAK2      0.00           5,644,000.00        12,107.74      0.00
  B-4   SEQ0301B4      0.00           2,565,000.00         5,502.54      0.00
  B-5   SEQ0301B5      0.00           1,539,000.00         3,301.53      0.00
  B-6   SEQ0301B6      0.00           4,105,618.00         8,807.54      0.00
----------------------------------------------------------------------------------
Totals                 0.00         939,489,312.32    14,196,406.00      0.00
----------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                            Beginning      Scheduled     Unscheduled
        Original Face      Certificate     Principal      Principal               Realized
 Class     Amount            Balance      Distribution   Distribution  Accretion  Loss (1)
------------------------------------------------------------------------------------------
<S>     <C>               <C>             <C>           <C>            <C>        <C>
  1A      798,206,000.00  737,456,382.51     3.77       11,019,490.27    0.00       0.00
  2A      190,000,000.00  176,219,185.35     0.00        1,135,379.50    0.00       0.00
 X-1A               0.00            0.00     0.00                0.00    0.00       0.00
 X-1B               0.00            0.00     0.00                0.00    0.00       0.00
  X-2               0.00            0.00     0.00                0.00    0.00       0.00
  X-B               0.00            0.00     0.00                0.00    0.00       0.00
  A-R             100.00            0.00     0.00                0.00    0.00       0.00
  B-1      15,905,000.00   15,905,000.00     0.00                0.00    0.00       0.00
  B-2       8,210,000.00    8,210,000.00     0.00                0.00    0.00       0.00
  B-3       5,644,000.00    5,644,000.00     0.00                0.00    0.00       0.00
  B-4       2,565,000.00    2,565,000.00     0.00                0.00    0.00       0.00
  B-5       1,539,000.00    1,539,000.00     0.00                0.00    0.00       0.00
  B-6       4,105,618.00    4,105,618.00     0.00                0.00    0.00       0.00
------------------------------------------------------------------------------------------
Totals  1,026,174,718.00  951,644,185.86     3.77       12,154,869.77    0.00       0.00
------------------------------------------------------------------------------------------
<CAPTION>

        Original Face     Total Principal  Ending Certificate  Ending Certificate  Total Principal
 Class     Amount            Reduction           Balance           Percentage        Distribution
--------------------------------------------------------------------------------------------------
<S>     <C>               <C>              <C>                 <C>                 <C>
  1A      798,206,000.00   11,019,494.04     726,436,888.47       0.91008698        11,019,494.04
  2A      190,000,000.00    1,135,379.50     175,083,805.85       0.92149372         1,135,379.50
 X-1A               0.00            0.00               0.00       0.00000000                 0.00
 X-1B               0.00            0.00               0.00       0.00000000                 0.00
  X-2               0.00            0.00               0.00       0.00000000                 0.00
  X-B               0.00            0.00               0.00       0.00000000                 0.00
  A-R             100.00            0.00               0.00       0.00000000                 0.00
  B-1      15,905,000.00            0.00      15,905,000.00       1.00000000                 0.00
  B-2       8,210,000.00            0.00       8,210,000.00       1.00000000                 0.00
  B-3       5,644,000.00            0.00       5,644,000.00       1.00000000                 0.00
  B-4       2,565,000.00            0.00       2,565,000.00       1.00000000                 0.00
  B-5       1,539,000.00            0.00       1,539,000.00       1.00000000                 0.00
  B-6       4,105,618.00            0.00       4,105,618.00       1.00000000                 0.00
--------------------------------------------------------------------------------------------------
Totals  1,026,174,718.00   12,154,873.54     939,489,312.32       0.91552569        12,154,873.54
--------------------------------------------------------------------------------------------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                        Beginning     Scheduled     Unscheduled
        Original Face   Certificate    Principal      Principal                Realized
Class      Amount         Balance     Distribution  Distribution   Accretion   Loss (3)
<S>    <C>             <C>            <C>           <C>           <C>         <C>
----------------------------------------------------------------------------------------
 1A    798,206,000.00   923.89230664   0.00000472   13.80532127   0.00000000  0.00000000
 2A    190,000,000.00   927.46939658   0.00000000    5.97568158   0.00000000  0.00000000
X-1A             0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
X-1B             0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 X-2             0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 X-B             0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 A-R           100.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-1    15,905,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-2     8,210,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-3     5,644,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-4     2,565,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-5     1,539,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-6     4,105,618.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
----------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>

        Original Face  Total Principal  Ending Certificate  Ending Certificate  Total Principal
Class      Amount         Reduction          Balance            Percentage        Distribution
<S>    <C>             <C>              <C>                 <C>                 <C>
-----------------------------------------------------------------------------------------------
 1A    798,206,000.00    13.80532599        910.08698064        0.91008698        13.80532599
 2A    190,000,000.00     5.97568158        921.49371500        0.92149372         5.97568158
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     0.00000000       1000.00000000        1.00000000         0.00000000
 B-2     8,210,000.00     0.00000000       1000.00000000        1.00000000         0.00000000
 B-3     5,644,000.00     0.00000000       1000.00000000        1.00000000         0.00000000
 B-4     2,565,000.00     0.00000000       1000.00000000        1.00000000         0.00000000
 B-5     1,539,000.00     0.00000000       1000.00000000        1.00000000         0.00000000
 B-6     4,105,618.00     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               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>
  1A      798,206,000.00      1.50000%      737,456,382.51    921,820.48     0.00        0.00      0.00
  2A      190,000,000.00      1.59000%      176,219,185.35    233,490.42     0.00        0.00      0.00
 X-1A               0.00      0.90358%      166,806,090.11    125,602.33     0.00        0.00      0.00
 X-1B               0.00      1.11011%      570,650,293.39    527,902.24     0.00        0.00      0.00
  X-2               0.00      1.03007%      176,219,185.35    151,265.15     0.00        0.00      0.00
  X-B               0.00      0.57429%       15,905,000.00      7,611.73     0.00        0.00      0.00
  A-R             100.00      2.74621%                0.00          0.00     0.00        0.00      0.00
  B-1      15,905,000.00      2.00000%       15,905,000.00     26,508.33     0.00        0.00      0.00
  B-2       8,210,000.00      2.57429%        8,210,000.00     17,612.43     0.00        0.00      0.00
  B-3       5,644,000.00      2.57429%        5,644,000.00     12,107.74     0.00        0.00      0.00
  B-4       2,565,000.00      2.57429%        2,565,000.00      5,502.54     0.00        0.00      0.00
  B-5       1,539,000.00      2.57429%        1,539,000.00      3,301.53     0.00        0.00      0.00
  B-6       4,105,618.00      2.57429%        4,105,618.00      8,807.54     0.00        0.00      0.00
----------------------------------------------------------------------------------------------------------
Totals  1,026,174,718.00                                    2,041,532.46     0.00        0.00      0.00
----------------------------------------------------------------------------------------------------------
<CAPTION>
                                                    Remaining      Ending
                                                     Unpaid     Certificate/
         Original Face    Realized  Total Interest  Interest     Notational
 Class       Amount       Loss (4)   Distribution   Shortfall      Balance
-----------------------------------------------------------------------------
<S>     <C>               <C>       <C>             <C>        <C>
  1A      798,206,000.00    0.00       921,820.48     0.00     726,436,888.47
  2A      190,000,000.00    0.00       233,490.42     0.00     175,083,805.85
 X-1A               0.00    0.00       125,602.33     0.00     165,277,665.15
 X-1B               0.00    0.00       527,902.24     0.00     561,159,224.31
  X-2               0.00    0.00       151,265.15     0.00     175,083,805.85
  X-B               0.00    0.00         7,611.73     0.00      15,905,000.00
  A-R             100.00    0.00             0.00     0.00               0.00
  B-1      15,905,000.00    0.00        26,508.33     0.00      15,905,000.00
  B-2       8,210,000.00    0.00        17,612.43     0.00       8,210,000.00
  B-3       5,644,000.00    0.00        12,107.74     0.00       5,644,000.00
  B-4       2,565,000.00    0.00         5,502.54     0.00       2,565,000.00
  B-5       1,539,000.00    0.00         3,301.53     0.00       1,539,000.00
  B-6       4,105,618.00    0.00         8,807.54     0.00       4,105,618.00
-----------------------------------------------------------------------------
Totals  1,026,174,718.00    0.00     2,041,532.46     0.00
-----------------------------------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                           Payment of                 Non-
                           Current         Beginning                         Unpaid     Current     Supported
Class (5)  Original Face   Certificate    Certificate/    Current Accrued   Interest    Interest    Interest
               Amount         Rate      Notional Balance      Interest      Shortfall   Shortfall   Shortfall
-------------------------------------------------------------------------------------------------------------
<S>        <C>             <C>          <C>               <C>              <C>         <C>         <C>
   1A      798,206,000.00    1.50000%     923.89230664       1.15486539    0.00000000  0.00000000  0.00000000
   2A      190,000,000.00    1.59000%     927.46939658       1.22889695    0.00000000  0.00000000  0.00000000
  X-1A               0.00    0.90358%     910.62222347       0.68568404    0.00000000  0.00000000  0.00000000
  X-1B               0.00    1.11011%     927.84463204       0.85833875    0.00000000  0.00000000  0.00000000
   X-2               0.00    1.03007%     927.46939658       0.79613237    0.00000000  0.00000000  0.00000000
   X-B               0.00    0.57429%    1000.00000000       0.47857466    0.00000000  0.00000000  0.00000000
   A-R             100.00    2.74621%       0.00000000       0.00000000    0.00000000  0.00000000  0.00000000
   B-1      15,905,000.00    2.00000%    1000.00000000       1.66666646    0.00000000  0.00000000  0.00000000
   B-2       8,210,000.00    2.57429%    1000.00000000       2.14524117    0.00000000  0.00000000  0.00000000
   B-3       5,644,000.00    2.57429%    1000.00000000       2.14524096    0.00000000  0.00000000  0.00000000
   B-4       2,565,000.00    2.57429%    1000.00000000       2.14523977    0.00000000  0.00000000  0.00000000
   B-5       1,539,000.00    2.57429%    1000.00000000       2.14524366    0.00000000  0.00000000  0.00000000
   B-6       4,105,618.00    2.57429%    1000.00000000       2.14524098    0.00000000  0.00000000  0.00000000
-------------------------------------------------------------------------------------------------------------
<CAPTION>
                                                        Remaining
                                                         Unpaid
Class (5)  Original Face    Realized   Total Interest    Interest  Ending Certificate/
               Amount       Loss (6)    Distribution    Shortfall  Notational Balance
--------------------------------------------------------------------------------------
<S>        <C>             <C>         <C>             <C>         <C>
   1A      798,206,000.00  0.00000000    1.15486539    0.00000000      910.08698064
   2A      190,000,000.00  0.00000000    1.22889695    0.00000000      921.49371500
  X-1A               0.00  0.00000000    0.68568404    0.00000000      902.27829709
  X-1B               0.00  0.00000000    0.85833875    0.00000000      912.41269833
   X-2               0.00  0.00000000    0.79613237    0.00000000      921.49371500
   X-B               0.00  0.00000000    0.47857466    0.00000000     1000.00000000
   A-R             100.00  0.00000000    0.00000000    0.00000000       0.000000000
   B-1      15,905,000.00  0.00000000    1.66666646    0.00000000     1000.00000000
   B-2       8,210,000.00  0.00000000    2.14524117    0.00000000     1000.00000000
   B-3       5,644,000.00  0.00000000    2.14524096    0.00000000     1000.00000000
   B-4       2,565,000.00  0.00000000    2.14523977    0.00000000     1000.00000000
   B-5       1,539,000.00  0.00000000    2.14524366    0.00000000     1000.00000000
   B-6       4,105,618.00  0.00000000    2.14524098    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                14,503,644.80
         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                                             14,503,644.80
Withdrawals
         Reimbursement for Servicer Advances                        0.00
         Payment of Service Fee                               307,238.81
         Payment of Interest and Principal                 14,196,405.99
                                                           -------------
Total Withdrawals (Pool Distribution Amount)               14,503,644.80
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                                     299,308.46
Master Servicing Fee                                      7,930.35
Supported Prepayment/Curtailment Interest Shortfall           0.00
                                                        ----------
Net Servicing Fee                                       307,238.81
                                                        ==========
</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>
         DELINQUENT                    BANKRUPTCY                    FORECLOSURE
--------------------------------------------------------------------------------------------------
            No. of    Principal               No. of   Principal               No. of    Principal
             Loans     Balance                Loans     Balance                Loans      Balance
<S>        <C>        <C>        <C>        <C>        <C>        <C>        <C>         <C>
0-29 Days      0        0.00     0-29 Days      0       0.00      0-29 Days     0          0.00
30 Days        0        0.00     30 Days        0       0.00      30 Days       0          0.00
60 Days        0        0.00     60 Days        0       0.00      60 Days       0          0.00
90 Days        0        0.00     90 Days        0       0.00      90 Days       0          0.00
120 Days       0        0.00     120 Days       0       0.00      120 Days      0          0.00
150 Days       0        0.00     150 Days       0       0.00      150 Days      0          0.00
180+ Days      0        0.00     180+ Days      0       0.00      180+ Days     0          0.00
           --------------------             --------------------             ---------------------
               0        0.00                    0       0.00                    0          0.00

            No. of    Principal               No. of   Principal               No. of    Principal
             Loans     Balance                Loans     Balance                Loans      Balance
0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%   0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%  30 Days    0.000000%   0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%  60 Days    0.000000%   0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%  90 Days    0.000000%   0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%  120 Days   0.000000%   0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%  150 Days   0.000000%   0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%  180+ Days  0.000000%   0.000000%
           --------------------             --------------------             ---------------------
           0.000000%  0.000000%             0.000000%  0.000000%             0.000000%   0.000000%
<CAPTION>
              REO                             TOTAL
----------------------------------------------------------------
            No. of    Principal              No. of    Principal
             Loans     Balance               Loans      Balance
<S>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0        0.00     0-29 Days     0         0.00
30 Days        0        0.00     30 Days       0         0.00
60 Days        0        0.00     60 Days       0         0.00
90 Days        0        0.00     90 Days       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%  939,489,312.32  100.00000000%    95.958590%         0.000000%
Class 1A     227,968,618.00  22.21538048%  213,052,423.85   22.67747180%    77.322528%     1,913.256070%
Class 2A      37,968,618.00   3.70001495%   37,968,618.00    4.01414032%    18.636061%       461.127676%
Class X-2     37,968,618.00   3.70001495%   37,968,618.00    4.04141032%     0.000000%         0.000000%
Class B-1     22,063,618.00   2.15008396%   22,063,618.00    2.34846929%     1.692941%        41.889858%
Class B-2     13,853,618.00   1.35002527%   13,853,618.00    1.47459027%     0.873879%        21.623120%
Class B-3      8,209,618.00   0.80002146%    8,209,618.00    0.87383836%     0.600752%        14.864908%
Class B-4      5,644,618.00   0.55006403%    5,644,618.00    0.60081769%     0.273021%         6.755579%
Class B-5      4,105,618.00   0.40008957%    4,105,618.00    0.43700529%     0.163812%         4.053347%
Class B-6              0.00   0.00000000%            0.00    0.00000000%     0.437005%        10.813188%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     POOL 1

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

                                     POOL 2

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

             No. of   Principal               No. of   Principal               No. of   Principal
             Loans     Balance                Loans     Balance                Loans     Balance
0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%
           --------------------             --------------------             --------------------
           0.000000%  0.000000%             0.000000%  0.000000%             0.000000%  0.000000%
           --------------------             --------------------             --------------------
<CAPTION>
              REO                             TOTAL
----------------------------------------------------------------
             No. of   Principal               No. of   Principal
             Loans     Balance                Loans     Balance
<S>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0        0.00     0-29 Days      0        0.00
30 Days        0        0.00     30 Days        0        0.00
60 Days        0        0.00     60 Days        0        0.00
90 Days        0        0.00     90 Days        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                           2.961743%
Weighted Average Net Coupon                             2.584322%
Weighted Average Pass-Through Rate                      2.574322%
Weighted Average Maturity (Stepdown Calculation)              319

Beginning Scheduled Collateral Loan Count                   2,702
Number of Loans Paid in Full                                   34
Ending Scheduled Collateral Loan Count                      2,668

Beginning Scheduled Collateral Balance             951,644,185.86
Ending Scheduled Collateral Balance                939,489,312.32
Ending Actual Collateral Balance at 30-Sept-2003   939,490,547.86

Monthly P&I Constant                                 2,348,775.01
Special Servicing Fee                                        0.00
Prepayment Penalties                                         0.00
Realization Loss Amount                                      0.00
Cumulative Realized Loss                                     0.00

Class A Optimal Amount                              14,114,954.15

Ending Scheduled Balance for Premium Loans         939,489,312.32

Scheduled Principal                                          3.77
Unscheduled Principal                               12,154,869.77
</TABLE>

MISCELLANEOUS REPORTING

Cap Agreement Deposit - 1 month Libor Loan      0
Cap Agreement Deposit - 6 month Libor Loan      0

<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           2.951391        3.005070         2.961743
Weighted Average Net Rate              2.573392        2.630070         2.584322
Pass-Through Rate                      2.563392        2.620070         2.574322
Weighted Average Maturity                   317             325              319
Record Date                          09/30/2003      09/30/2003       09/30/2003
Principal and Interest Constant    1,889,202.00      459,573.01     2,348,775.01
Beginning Loan Count                      2,155             547            2,702
Loans Paid in Full                           29               5               34
Ending Loan Count                         2,126             542            2,668
Beginning Scheduled Balance      768,125,158.51  183,519,027.35   951,644,185.86
Ending Scheduled Balance         757,105,664.47  182,383,647.85   939,489,312.32
Scheduled Principal                        3.77            0.00             3.77
Unscheduled Principal             11,019,490.27    1,135,379.50    12,154,869.77
Scheduled Interest                 1,889,198.23      459,573.01     2,348,771.24
Servicing Fee                        241,958.75       57,349.71       299,308.46
Master Servicing Fee                   6,401.03        1,529.32         7,930.35
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                       1,640,838.45       400,693.98    2,041,532.43
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     172,255,371.82
Six Month Libor Loan Balance     584,850,292.65
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     182,383,647.85
Senior Percent                      100.000000%
Senior Prepayment Percent           100.000000%
Subordinate Percent                   0.000000%
Subordinate Prepayment Percent        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 2003-2
                         RECORD DATE: SEPTEMBER 30, 2003
                       DISTRIBUTION DATE: OCTOBER 20, 2003
                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate                          Beginning
                                 Class         Certificate        Certificate        Interest        Principal
 Class            CUSIP       Description   Pass-Through Rate       Balance        Distribution    Distribution
---------------------------------------------------------------------------------------------------------------
<S>             <C>           <C>           <C>                 <C>               <C>             <C>
  A-1           81743PAP1         SEN            1.45000%       478,543,740.44      578,240.35     7,918,718.37
  A-2           81743PAQ9         SEN            1.63313%       286,626,417.54      390,081.83     6,001,341.61
  M-1           81743PAR7         SUB            1.77000%        11,480,000.00       16,933.00             0.00
  M-2           81743PAS5         SUB            2.55000%         4,920,000.00       10,455.00             0.00
   X            SMT03002X          IO            0.00000%                 0.00      717,612.38             0.00
   R            SMT03002R         SUB            0.00000%                 0.00            0.00             0.00
---------------------------------------------------------------------------------------------------------------
Totals                                                          781,570,157.98    1,713,322.56    13,920,059.98
---------------------------------------------------------------------------------------------------------------

<CAPTION>
                                 Current      Ending Certificate      Total          Cumulative
 Class            CUSIP       Realized Loss         Balance        Distribution     Realized Loss
-------------------------------------------------------------------------------------------------
<S>             <C>           <C>             <C>                  <C>              <C>
  A-1           81743PAP1          0.00         470,625,022.07      8,496,958.72         0.00
  A-2           81743PAQ9          0.00         280,625,075.93      6,391,423.44         0.00
  M-1           81743PAR7          0.00          11,480,000.00         16,933.00         0.00
  M-2           81743PAS5          0.00           4,920,000.00         10,455.00         0.00
   X            SMT03002X          0.00                   0.00        717,612.38         0.00
   R            SMT03002R          0.00                   0.00              0.00         0.00
-------------------------------------------------------------------------------------------------
Totals                             0.00         767,650,098.00     15,633,382.54         0.00
-------------------------------------------------------------------------------------------------
</TABLE>

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

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                    Beginning        Scheduled       Unscheduled
               Original Face       Certificate       Principal        Principal                     Realized
 Class            Amount             Balance        Distribution     Distribution     Accretion      Loss (1)
-------------------------------------------------------------------------------------------------------------
<S>            <C>                <C>               <C>             <C>               <C>           <C>
  A-1          500,000,000.00     478,543,740.44        0.00         7,918,718.37        0.00         0.00
  A-2          303,600,000.00     286,626,417.54        0.00         6,001,341.61        0.00         0.00
  M-1           11,480,000.00      11,480,000.00        0.00                 0.00        0.00         0.00
  M-2            4,920,000.00       4,920,000.00        0.00                 0.00        0.00         0.00
   X                     0.00               0.00        0.00                 0.00        0.00         0.00
   R                     0.00               0.00        0.00                 0.00        0.00         0.00
-------------------------------------------------------------------------------------------------------------
Totals         820,000,000.00     781,570,157.98        0.00        13,920,059.98        0.00         0.00
-------------------------------------------------------------------------------------------------------------

<CAPTION>
               Original Face      Total Principal     Ending  Certificate    Ending Certificate    Total Principal
 Class            Amount             Reduction              Balance              Percentage          Distribution
------------------------------------------------------------------------------------------------------------------
<S>            <C>                <C>                 <C>                    <C>                   <C>
  A-1          500,000,000.00       7,918,718.37         470,625,022.07          0.94125004          7,918,718.37
  A-2          303,600,000.00       6,001,341.61         280,625,075.93          0.92432502          6,001,341.61
  M-1           11,480,000.00               0.00          11,480,000.00          1.00000000                  0.00
  M-2            4,920,000.00               0.00           4,920,000.00          1.00000000                  0.00
   X                     0.00               0.00                   0.00          0.00000000                  0.00
   R                     0.00               0.00                   0.00          0.00000000                  0.00
------------------------------------------------------------------------------------------------------------------
Totals         820,000,000.00      13,920,059.98         767,650,098.00          0.93615866         13,920,059.98
------------------------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                               Beginning        Scheduled      Unscheduled
            Original Face     Certificate       Principal       Principal                     Realized
Class          Amount           Balance       Distribution    Distribution     Accretion      Loss (3)
-------------------------------------------------------------------------------------------------------
<S>        <C>                <C>             <C>             <C>             <C>            <C>
 A-1       500,000,000.00      957.08748088    0.00000000      15.83743674    0.00000000     0.00000000
 A-2       303,600,000.00      944.09228439    0.00000000      19.76726486    0.00000000     0.00000000
 M-1        11,480,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 M-2         4,920,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
  X                  0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
  R                  0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000

<CAPTION>
            Original Face     Total Principal     Ending Certificate     Ending Certificate    Total Principal
Class          Amount            Reduction             Balance               Percentage          Distribution
--------------------------------------------------------------------------------------------------------------
<S>        <C>                <C>                 <C>                    <C>                   <C>
 A-1       500,000,000.00       15.83743674          941.25004414            0.94125004          15.83743674
 A-2       303,600,000.00       19.76726486          924.32501953            0.92432502          19.76726486
 M-1        11,480,000.00        0.00000000         1000.00000000            1.00000000           0.00000000
 M-2         4,920,000.00        0.00000000         1000.00000000            1.00000000           0.00000000
  X                  0.00        0.00000000            0.00000000            0.00000000           0.00000000
  R                  0.00        0.00000000            0.00000000            0.00000000           0.00000000
</TABLE>

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

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                        Beginning                        Payment of
                                                       Certificate/       Current          Unpaid        Current
               Original Face         Current             Notional         Accrued         Interest      Interest
Class             Amount          Certificate Rate       Balance          Interest        Shortfall     Shortfall
-----------------------------------------------------------------------------------------------------------------
<S>           <C>                 <C>                 <C>                <C>             <C>            <C>
 A-1          500,000,000.00         1.45000%         478,543,740.44     578,240.35          0.00          0.00
 A-2          303,600,000.00         1.63313%         286,626,417.54     390,081.83          0.00          0.00
 M-1           11,480,000.00         1.77000%          11,480,000.00      16,933.00          0.00          0.00
 M-2            4,920,000.00         2.55000%           4,920,000.00      10,455.00          0.00          0.00
  X                     0.00         0.00000%         781,570,157.98           0.00          0.00          0.00
  R                     0.00         0.00000%                   0.00           0.00          0.00          0.00
-----------------------------------------------------------------------------------------------------------------
Totals        820,000,000.00                                             995,710.18          0.00          0.00
-----------------------------------------------------------------------------------------------------------------

<CAPTION>
                                    Non-                                       Remaining        Ending
                                 Supported                                       Unpaid       Certificate/
               Original Face      Interest    Realized     Total Interest       Interest       Notational
Class             Amount         Shortfall     Loss (4)     Distribution       Shortfall        Balance
-----------------------------------------------------------------------------------------------------------
<S>           <C>                <C>          <C>          <C>                 <C>           <C>
 A-1          500,000,000.00        0.00         0.00         578,240.35          0.00       470,625,022.07
 A-2          303,600,000.00        0.00         0.00         390,081.83          0.00       280,625,075.93
 M-1           11,480,000.00        0.00         0.00          16,933.00          0.00        11,480,000.00
 M-2            4,920,000.00        0.00         0.00          10,455.00          0.00         4,920,000.00
  X                     0.00        0.00         0.00         717,612.38          0.00       767,650,098.00
  R                     0.00        0.00         0.00               0.00          0.00                 0.00
-----------------------------------------------------------------------------------------------------------
Totals        820,000,000.00        0.00         0.00       1,713,322.56          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      Current
Class       Original Face    Certificate       Certificate/       Current Accrued      Interest     Interest
 (5)           Amount            Rate        Notional Balance         Interest        Shortfall    Shortfall
-------------------------------------------------------------------------------------------------------------
<S>        <C>               <C>             <C>                  <C>                <C>           <C>
 A-1       500,000,000.00      1.45000%        957.08748088          1.15648070       0.00000000   0.00000000
 A-2       303,600,000.00      1.63313%        944.09228439          1.28485451       0.00000000   0.00000000
 M-1        11,480,000.00      1.77000%       1000.00000000          1.47500000       0.00000000   0.00000000
 M-2         4,920,000.00      2.55000%       1000.00000000          2.12500000       0.00000000   0.00000000
  X                  0.00      0.00000%        953.13433900          0.00000000       0.00000000   0.00000000
  R                  0.00      0.00000%          0.00000000          0.00000000       0.00000000   0.00000000
-------------------------------------------------------------------------------------------------------------

<CAPTION>
                                 Non-                                         Remaining
                              Supported                                        Unpaid
Class       Original Face      Interest      Realized       Total Interest    Interest          Ending Certificate/
 (5)           Amount         Shortfall       Loss (6)       Distribution     Shortfall         Notational Balance
------------------------------------------------------------------------------------------------------------------
<S>        <C>                <C>            <C>            <C>               <C>               <C>
 A-1       500,000,000.00     0.00000000     0.00000000       1.15648070      0.00000000           941.25004414
 A-2       303,600,000.00     0.00000000     0.00000000       1.28485451      0.00000000           924.32501953
 M-1        11,480,000.00     0.00000000     0.00000000       1.47500000      0.00000000          1000.00000000
 M-2         4,920,000.00     0.00000000     0.00000000       2.12500000      0.00000000          1000.00000000
  X                  0.00     0.00000000     0.00000000       0.87513705      0.00000000           936.15865610
  R                  0.00     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                             15,891,502.73
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                   5,934.62
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          15,897,437.35

Withdrawals
         Reimbursement for Servicer Advances                                13,269.61
         Payment of Service Fee                                            250,785.19
         Payment of Interest and Principal                              15,633,382.55
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            15,897,437.35

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                                                    246,214.06
Master Servicing Fee                                                     4,571.13
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------
Net Servicing Fee                                                      250,785.19
                                                                       ==========
</TABLE>

<PAGE>

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

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
               DELINQUENT                                  BANKRUPTCY                           FORECLOSURE
-----------------------------------------    -----------------------------------     ---------------------------------
                 No. of       Principal                      No. of    Principal                   No. of    Principal
                 Loans         Balance                       Loans      Balance                    Loans      Balance
----------------------------------------------------------------------------------------------------------------------
<S>            <C>           <C>             <C>           <C>         <C>           <C>         <C>         <C>
0-29 Days          0                 0.00    0-29 Days         0           0.00      0-29 Days       0           0.00
30 Days            8         2,704,139.33    30 Days           0           0.00      30 Days         0           0.00
60 Days            0                 0.00    60 Days           0           0.00      60 Days         0           0.00
90 Days            0                 0.00    90 Days           0           0.00      90 Days         0           0.00
120 Days           0                 0.00    120 Days          0           0.00      120 Days        0           0.00
150 Days           0                 0.00    150 Days          0           0.00      150 Days        0           0.00
180+ Days          0                 0.00    180+ Days         0           0.00      180+ Days       0           0.00
               --------------------------                  --------------------                  --------------------
                   8         2,704,139.33                      0           0.00                      0           0.00

<CAPTION>
                 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      0.000000%         0.000000%   0-29 Days     0.000000%   0.000000%     0-29 Days   0.000000%   0.000000%
30 Days        0.374883%         0.351322%   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%
               --------------------------                  --------------------                  --------------------
               0.374883%         0.351322%                 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         8       2,704,139.33
60 Days          0           0.00    60 Days         0               0.00
90 Days          0           0.00    90 Days         0               0.00
120 Days         0           0.00    120 Days        0               0.00
150 Days         0           0.00    150 Days        0               0.00
180+ Days        0           0.00    180+ Days       0               0.00
             --------------------                ------------------------
                 0           0.00                    8       2,704,139.33

<CAPTION>
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance
<S>          <C>         <C>         <C>         <C>          <C>
0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%       0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.374883%       0.351322%
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%               0.374883%       0.351322%
</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   5,934.62
</TABLE>

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1

<TABLE>
<CAPTION>
               DELINQUENT                               BANKRUPTCY                           FORECLOSURE
----------------------------------------    -----------------------------------   -----------------------------------
                 No. of      Principal                    No. of      Principal                 No. of      Principal
                  Loans       Balance                     Loans        Balance                  Loans        Balance
---------------------------------------------------------------------------------------------------------------------
<S>             <C>         <C>             <C>         <C>           <C>         <C>         <C>           <C>
0-29 Days           0               0.00    0-29 Days       0             0.00    0-29 Days       0             0.00
30 Days             5       1,224,400.00    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
                ------------------------                ----------------------                ----------------------
                    5       1,224,400.00                    0             0.00                    0             0.00

<CAPTION>
                 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       0.000000%       0.000000%   0-29 Days   0.000000%     0.000000%   0-29 Days   0.000000%     0.000000%
30 Days         0.387597%       0.254083%   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%
                ------------------------                ----------------------                ----------------------
                0.387597%       0.254083%               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       1,224,400.00
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                    5       1,224,400.00

<CAPTION>
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance
<S>          <C>         <C>         <C>         <C>         <C>
0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%       0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.387597%       0.254083%
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%               0.387597%       0.254083%
</TABLE>

                                     GROUP 2

<TABLE>
<CAPTION>
             DELINQUENT                                BANKRUPTCY                              FORECLOSURE
---------------------------------------    -----------------------------------     ------------------------------------
                No. of       Principal                   No. of      Principal                   No. of       Principal
                Loans         Balance                    Loans        Balance                    Loans         Balance
-----------------------------------------------------------------------------------------------------------------------
<S>           <C>          <C>             <C>         <C>           <C>           <C>         <C>            <C>
0-29 Days         0                0.00    0-29 Days       0             0.00      0-29 Days       0              0.00
30 Days           3        1,479,739.33    30 Days         0             0.00      30 Days         0              0.00
60 Days           0                0.00    60 Days         0             0.00      60 Days         0              0.00
90 Days           0                0.00    90 Days         0             0.00      90 Days         0              0.00
120 Days          0                0.00    120 Days        0             0.00      120 Days        0              0.00
150 Days          0                0.00    150 Days        0             0.00      150 Days        0              0.00
180+ Days         0                0.00    180+ Days       0             0.00      180+ Days       0              0.00
              -------------------------                ----------------------                  -----------------------
                  3        1,479,739.33                    0             0.00                      0              0.00

<CAPTION>
                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     0.000000%        0.000000%   0-29 Days   0.000000%     0.000000%     0-29 Days   0.000000%      0.000000%
30 Days       0.355450%        0.514131%   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%
              -------------------------                ----------------------                  -----------------------
              0.355450%        0.514131%               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         3         1,479,739.33
60 Days         0             0.00    60 Days         0                 0.00
90 Days         0             0.00    90 Days         0                 0.00
120 Days        0             0.00    120 Days        0                 0.00
150 Days        0             0.00    150 Days        0                 0.00
180+ Days       0             0.00    180+ Days       0                 0.00
            ----------------------                --------------------------
                0             0.00                    3         1,479,739.33

<CAPTION>
              No. of      Principal                 No. of       Principal
              Loans        Balance                  Loans         Balance
<S>         <C>           <C>         <C>         <C>            <C>
0-29 Days   0.000000%     0.000000%   0-29 Days   0.000000%         0.000000%
30 Days     0.000000%     0.000000%   30 Days     0.355450%         0.514131%
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%               0.355450%         0.514131%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                               Mixed Arm
<S>                                                               <C>
Weighted Average Gross Coupon                                          3.007745%
Weighted Average Net Coupon                                            2.630704%
Weighted Average Pass-Through Rate                                     2.623704%
Weighted Average Maturity (Stepdown Calculation)                             327

Beginning Scheduled Collateral Loan Count                                  2,163
Number of Loans Paid in Full                                                  29
Ending Scheduled Collateral Loan Count                                     2,134

Beginning Scheduled Collateral Balance                            783,620,157.98
Ending Scheduled Collateral Balance                               769,700,098.00
Ending Actual Collateral Balance at 30-Sept-2003                  769,702,985.73

Monthly P&I Constant                                                1,964,107.74
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realized Loss Amount                                                        0.00
Cumulative Realized Loss                                                    0.00

Ending Scheduled Balance for Premium Loans                        769,700,098.00

Scheduled Principal                                                         0.00
Unscheduled Principal                                              13,920,059.98

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

Extra Principal Distribution Amount                                         0.00
Excess Cash Amount                                                    717,612.38
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
M-1 Target Amount                                                 756,615,196.33
M-2 Target Amount                                                 765,851,597.51
Senior Target Amount                                              735,063,593.59

Group 1 - One-Month LIBOR Loans                                   141,918,789.18
Group 1 - Six-Month LIBOR Loans                                   339,968,366.29
Group 2 - Six Month LIBOR Loans                                   287,812,942.53

Applied Loss Amountn                                                          0
</TABLE>

<TABLE>
<CAPTION>
         GROUP                                   1                  2                  TOTAL
<S>                                        <C>               <C>                   <C>
Collateral Description                       Mixed ARM         6 Month ARM           Mixed ARM
Weighted Average Coupon Rate                     2.979343           3.055092             3.007745
Weighted Average Net Rate                        2.602555           2.677630             2.630704
Pass-Through Rate                                2.595555           2.670630             2.623704
Weighted Average Maturity                             321                334                  327
Record Date                                    09/30/2003         09/30/2003           09/30/2003
Principal and Interest Constant              1,216,083.02         748,024.72         1,964,107.74
Beginning Loan Count                                1,306                857                2,163
Loans Paid in Full                                     16                 13                   29
Ending Loan Count                                   1,290                844                2,134
Beginning Scheduled Balance                489,805,873.84     293,814,284.14       783,620,157.98
Ending Scheduled Balance                   481,887,155.47     287,812,942.53       769,700,098.00
Scheduled Principal                                  0.00               0.00                 0.00
Unscheduled Principal                        7,918,718.37       6,001,341.61        13,920,059.98
Scheduled Interest                           1,216,083.02         748,024.72         1,964,107.74
Servicing Fee                                  153,794.23          92,419.83           246,214.06
Master Servicing Fee                             2,857.21           1,713.92             4,571.13
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                                 1,059,431.58         653,890.97         1,713,322.55
Realized Loss Amount                                 0.00               0.00                 0.00
Cumulative Realized Loss                             0.00               0.00                 0.00
Percentage of Cumulative Losses                      0.00               0.00                 0.00
Prepayment Penalties                                 0.00               0.00                 0.00
Special Servicing Fee                                0.00               0.00                 0.00
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]