Document:

<PAGE>

                                                                    EXHIBIT 10.1

CONTACTS

          Administrator:             Kumar X. Khambhaita
          Direct Phone No:           (714) 247-6327
          Address:                   Deutsche Bank
                                     1761 E. St. Andrew Place
                                     Santa Ana, CA 92705

          Web Site:                  http://www-apps.gis.deutsche-bank.com/invr
          Factor Information:        (800) 735-7777
          Main Phone No:             (714) 247-6000

ISSUANCE INFORMATION

<TABLE>
<S>                     <C>                                   <C>                     <C>
Seller:                 Redwood Trust                         Cut-Off Date:           April 1, 2002
Certificate Insurer:                                          Closing Date:           April 26, 2002
Servicer(s):            Cendant Mortgage Corporation          First Payment Date:     May 20, 2002
                        Morgan Stanley Dean Witter

Underwriter(s):         Greenwich Capital Markets, Inc.       Distribution Date:      October 20, 2003
                        Bear, Stearns & Co. Inc.              Record Date:            October 17, 2003
                                                                                      September 30, 2003
</TABLE>

<PAGE>

                            SEQUOIA MORTGAGE TRUST 6
                          COLLATERALIZED MORTGAGE BONDS
              BOND PAYMENT REPORT FOR OCTOBER 20, 2003 DISTRIBUTION

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
                                      Prior                                                                           Current
         Class     Original         Principal                                    Total       Realized  Deferred      Principal
 Class   Type     Face Value         Balance       Interest      Principal    Distribution    Losses   Interest       Balance
------------------------------------------------------------------------------------------------------------------------------------
                                       (1)           (2)            (3)       (4)=(2)+(3)      (5)       (6)     (7)=(1)-(3)-(5)+(6)
------   ----   --------------   --------------   ----------   ------------   ------------   --------  --------  -------------------
<S>      <C>    <C>              <C>              <C>          <C>            <C>            <C>       <C>       <C>
 LT-A           496,378,000.00   418,681,421.16   843,230.39   7,711,609.58   8,554,839.97      -         -        410,969,811.58
 LT-A2                  100.00                -            -              -              -      -         -                     -
 LT-X                   100.00                -            -              -              -      -         -                     -
LT-B-1            5,915,000.00     5,915,000.00    11,912.89              -      11,912.89      -         -          5,915,000.00
LT-B-2            5,143,000.00     5,143,000.00    10,358.08              -      10,358.08      -         -          5,143,000.00
LT-B-3            2,315,000.00     2,315,000.00     4,662.44              -       4,662.44      -         -          2,315,000.00
LT-B-4            1,534,000.00     1,534,000.00     3,089.50              -       3,089.50      -         -          1,534,000.00
LT-B-5            1,028,000.00     1,028,000.00     2,070.41              -       2,070.41      -         -          1,028,000.00
LT-B-6            2,068,996.83     2,068,996.83     4,166.99              -       4,166.99      -         -          2,068,996.83
 LT-R                        -                -            -              -              -      -         -                     -
Total           514,382,196.83   436,685,417.99   879,490.70   7,711,609.58   8,591,100.28      -         -        428,973,808.41
</TABLE>

Interest Accrual Detail

          Current Period Factor Information per $1,000 of Original Face

<TABLE>
<CAPTION>
                                               Orig. Principal      Prior                                               Current
           Period   Period                     (with Notional)    Principal                               Total        Principal
 Class    Starting  Ending   Method    Cusip       Balance         Balance      Interest   Principal   Distribution     Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                     (1)          (2)         (3)      (4)=(2)+(3)        (5)
------    --------  ------  --------   -----  ----------------   ------------   --------   ---------   ------------   ------------
<S>       <C>       <C>     <C>        <C>    <C>                <C>            <C>        <C>         <C>            <C>
 LT-A                       A-30/360            496,378,000.00     843.472960   1.698767   15.535760     17.234527      827.937200
LT-A2                       A-30/360                    100.00              -          -           -             -               -
 LT-X                       A-30/360                    100.00              -          -           -             -               -
LT-B-1                      A-30/360              5,915,000.00   1,000.000000   2.014014           -      2.014014    1,000.000000
LT-B-2                      A-30/360              5,143,000.00   1,000.000000   2.014015           -      2.014015    1,000.000000
LT-B-3                      A-30/360              2,315,000.00   1,000.000000   2.014013           -      2.014013    1,000.000000
LT-B-4                      A-30/360              1,534,000.00   1,000.000000   2.014016           -      2.014016    1,000.000000
LT-B-5                      A-30/360              1,028,000.00   1,000.000000   2.014018           -      2.014018    1,000.000000
LT-B-6                      A-30/360              2,068,996.83   1,000.000000   2.014015           -      2.014015    1,000.000000
 LT-R                       A-30/360                         -              -          -           -             -               -
</TABLE>

<PAGE>

Distribution in Dollars - to Date

<TABLE>
<CAPTION>
                                                                                                                Current
          Original                   Unscheduled  Scheduled     Total         Total      Realized Deferred     Principal
Class    Face Value      Interest     Principal   Principal   Principal    Distribution   Losses  Interest      Balance
------------------------------------------------------------------------------------------------------------------------------
            (1)            (2)          (3)          (4)     (5)=(3)+(4)   (6)=(2)+(5)      (7)      (8)   (9)=(1)-(5)-(7)+(8)
------ -------------- ------------- ------------- --------- ------------- -------------- -------- -------- -------------------
<S>    <C>            <C>           <C>           <C>       <C>           <C>            <C>      <C>      <C>
 LT-A  496,378,000.00 20,588,825.12 85,408,188.42     -     85,408,188.42 105,997,013.54     -        -      410,969,811.58
LT-A2          100.00          0.27        100.00     -            100.00         100.27     -        -                   -
 LT-X          100.00             -        100.00     -            100.00         100.00     -        -                   -
LT-B-1   5,915,000.00    264,091.01             -     -                 -     264,091.01     -        -        5,915,000.00
LT-B-2   5,143,000.00    229,623.01             -     -                 -     229,623.01     -        -        5,143,000.00
LT-B-3   2,315,000.00    103,359.37             -     -                 -     103,359.37     -        -        2,315,000.00
LT-B-4   1,534,000.00     68,489.51             -     -                 -      68,489.51     -        -        1,534,000.00
LT-B-5   1,028,000.00     45,897.83             -     -                 -      45,897.83     -        -        1,028,000.00
LT-B-6   2,068,996.83     92,375.92             -     -                 -      92,375.92     -        -        2,068,996.83
 LT-R               -             -             -     -                 -              -     -        -                   -
Total  514,382,196.83 21,392,662.04 85,408,388.42     -     85,408,388.42 106,801,050.46     -        -      428,973,808.41
</TABLE>

Interest Detail

<TABLE>
<CAPTION>
         Pass-    Prior Principal                Non-        Prior    Unscheduled                       Paid or       Current
        Through   (with Notional)   Accrued    Supported     Unpaid    Interest         Optimal         Deferred      Unpaid
 Class   Rate        Balance        Interest   Interest SF  Interest  Adjustments       Interest        Interest     Interest
-------------------------------------------------------------------------------------------------------------------------------
                                      (1)         (2)         (3)         (4)     (5)=(1)-(2)+(3)+(4)     (6)       (7)=(5)-(6)
------  --------  --------------   ----------  -----------  --------  ----------- -------------------  ----------   -----------
<S>     <C>       <C>              <C>         <C>          <C>       <C>         <C>                  <C>          <C>
 LT-A   2.41682%  418,681,421.16   843,230.39      -           -           -          843,230.39       843,230.39        -
 LT-A2  2.41682%               -            -      -           -           -                   -                -        -
 LT-X                          -            -      -           -           -                   -                -        -
LT-B-1  2.41682%    5,915,000.00    11,912.89      -           -           -           11,912.89        11,912.89        -
LT-B-2  2.41682%    5,143,000.00    10,358.08      -           -           -           10,358.08        10,358.08        -
LT-B-3  2.41682%    2,315,000.00     4,662.44      -           -           -            4,662.44         4,662.44        -
LT-B-4  2.41682%    1,534,000.00     3,089.50      -           -           -            3,089.50         3,089.50        -
LT-B-5  2.41682%    1,028,000.00     2,070.41      -           -           -            2,070.41         2,070.41        -
LT-B-6  2.41682%    2,068,996.83     4,166.99      -           -           -            4,166.99         4,166.99        -
 LT-R                          -            -      -           -           -                   -                -        -
 Total            436,685,417.99   879,490.70      -           -           -          879,490.70       879,490.70        -
</TABLE>

<PAGE>

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
                                   Prior                                                                           Current
        Class    Original        Principal                                 Total       Realized  Deferred         Principal
Class   Type    Face Value        Balance      Interest     Principal   Distribution    Losses   Interest          Balance
-------------------------------------------------------------------------------------------------------------------------------
                                   (1)           (2)          (3)       (4)=(2)+(3)      (5)       (6)      (7)=(1)-(3)-(5)+(6)
-----   ----- --------------  --------------  ----------  ------------  ------------   --------  --------   -------------------
<S>     <C>   <C>             <C>             <C>         <C>           <C>            <C>       <C>        <C>
  A     FLT   496,378,000.00  418,681,421.16  502,417.71  7,711,609.58  8,214,027.29      -         -          410,969,811.58
  X     CSTR          100.00               -  347,469.82             -    347,469.82      -         -                       -
 A-R     R            100.00               -           -             -             -      -         -                       -
 B-1    SUB     5,915,000.00    5,915,000.00    8,971.08             -      8,971.08      -         -            5,915,000.00
 B-2    SUB     5,143,000.00    5,143,000.00    7,800.22             -      7,800.22      -         -            5,143,000.00
 B-3    SUB     2,315,000.00    2,315,000.00    3,511.08             -      3,511.08      -         -            2,315,000.00
 B-4    SUB     1,534,000.00    1,534,000.00    3,089.50             -      3,089.50      -         -            1,534,000.00
 B-5    SUB     1,028,000.00    1,028,000.00    2,070.41             -      2,070.41      -         -            1,028,000.00
 B-6    SUB     2,068,996.00    2,068,996.00    4,166.98             -      4,166.98      -         -            2,068,996.00

Total         514,382,196.00  436,685,417.16  879,496.80  7,711,609.58  8,591,106.38      -         -          428,973,807.58
</TABLE>

Definitive Bond Record Date: 9/30/03

Interest Accrual Detail

         Current Period Factor Information per $1,000 of Original Face

<TABLE>
<CAPTION>
                                                                      Orig. Principal
            Period        Period                                      (with Notional)
Class      Starting       Ending        Method         Cusip              Balance
-----      --------      --------      --------      ---------        ---------------
<S>        <C>           <C>           <C>           <C>              <C>
  A        09/19/03      10/18/03      A-30/360      81743XAA7        496,378,000.00
  X                                    A-30/360      SQ0201UPX                100.00
 A-R                                   A-30/360      81743XAC3                100.00
 B-1       09/19/03      10/18/03      A-30/360      81743XAB5          5,915,000.00
 B-2       09/19/03      10/18/03      A-30/360      81743XAD1          5,143,000.00
 B-3       09/19/03      10/18/03      A-30/360      81743XAE9          2,315,000.00
 B-4                                   A-30/360      SQ0201UB4          1,534,000.00
 B-5                                   A-30/360      SQ0201UB5          1,028,000.00
 B-6                                   A-30/360      SQ0201UB6          2,068,996.00

<CAPTION>
             Prior                                                                        Current
           Principal                                                   Total             Principal
Class       Balance              Interest         Principal         Distribution          Balance
---------------------------------------------------------------------------------------------------
              (1)                  (2)               (3)            (4)=(2)+(3)             (5)
-----     ------------      ----------------      ---------      ----------------      ------------
<S>       <C>               <C>                   <C>            <C>                   <C>
  A         843.472960              1.012168      15.535760             16.547928        827.937200
  X                  -      3,474,698.200000              -      3,474,698.200000                 -
 A-R                 -                     -              -                     -                 -
 B-1      1,000.000000              1.516666              -              1.516666      1,000.000000
 B-2      1,000.000000              1.516667              -              1.516667      1,000.000000
 B-3      1,000.000000              1.516665              -              1.516665      1,000.000000
 B-4      1,000.000000              2.014016              -              2.014016      1,000.000000
 B-5      1,000.000000              2.014018              -              2.014018      1,000.000000
 B-6      1,000.000000              2.014011              -              2.014011      1,000.000000
</TABLE>

Interest will accrue on all Bonds on the basis of a 360-day year consisting of
twelve 30-day months.

<PAGE>

Distribution in Dollars - to Date

<TABLE>
<CAPTION>
                                                                                                                Current
          Original                  Unscheduled  Scheduled    Total           Total     Realized Deferred      Principal
Class    Face Value     Interest     Principal   Principal  Principal      Distribution  Losses  Interest       Balance
-----------------------------------------------------------------------------------------------------------------------------
            (1)           (2)          (3)          (4)     (5)=(3)+(4)    (6)=(2)+(5)     (7)     (8)    (9)=(1)-(5)-(7)+(8)
----- -------------- ------------- ------------- --------- -------------  ------------- -------- -------- -------------------
<S>   <C>            <C>           <C>           <C>       <C>            <C>           <C>      <C>      <C>
  A   496,378,000.00 12,286,479.06 85,408,188.42      -    85,408,188.42  97,694,667.48     -       -        410,969,811.58
  X           100.00  8,468,520.97        100.00      -           100.00   8,468,620.97     -       -                     -
 A-R          100.00          0.27        100.00      -           100.00         100.27     -       -                     -
 B-1    5,915,000.00    190,651.75             -      -                      190,651.75     -       -          5,915,000.00
 B-2    5,143,000.00    165,768.75             -      -                -     165,768.75     -       -          5,143,000.00
 B-3    2,315,000.00     74,616.86             -      -                -      74,616.86     -       -          2,315,000.00
 B-4    1,534,000.00     68,489.51             -      -                -      68,489.51     -       -          1,534,000.00
 B-5    1,028,000.00     45,897.83             -      -                -      45,897.83     -       -          1,028,000.00
 B-6    2,068,996.00     92,375.87             -      -                -      92,375.87     -       -          2,068,996.00

Total 514,382,196.00 21,392,800.87 85,408,388.42      -    85,408,388.42 106,801,189.29     -       -        428,973,807.58
</TABLE>

Interest Detail

<TABLE>
<CAPTION>
         Pass-   Prior Principal                  Non-       Prior    Unscheduled                         Paid or      Current
       Through   (with Notional)      Accrued   Supported    Unpaid    Interest           Optimal         Deferred     Unpaid
Class    Rate       Balance          Interest  Interest SF  Interest  Adjustments        Interest         Interest     Interest
--------------------------------------------------------------------------------------------------------------------------------
                                       (1)        (2)         (3)         (4)      (5)=(1)-(2)+(3)+(4)      (6)      (7)=(5)-(6)
-----  --------  --------------    ----------  -----------  --------  -----------  -------------------  -----------  -----------
<S>    <C>       <C>               <C>         <C>          <C>       <C>          <C>                  <C>          <C>
  A    1.44000%  418,681,421.16    502,417.71      -           -           -             502,417.71      502,417.71       -
  X    0.96506%               -    347,469.82      -           -           -             347,469.82      347,469.82       -
 A-R   2.41682%               -            -       -           -           -                      -               -       -
 B-1   1.82000%    5,915,000.00      8,971.08      -           -           -               8,971.08        8,971.08       -
 B-2   1.82000%    5,143,000.00      7,800.22      -           -           -               7,800.22        7,800.22       -
 B-3   1.82000%    2,315,000.00      3,511.08      -           -           -               3,511.08        3,511.08       -
 B-4   2.41682%    1,534,000.00      3,089.50      -           -           -               3,089.50        3,089.50       -
 B-5   2.41682%    1,028,000.00      2,070.41      -           -           -               2,070.41        2,070.41       -
 B-6   2.41682%    2,068,996.00      4,166.98      -           -           -               4,166.98        4,166.98       -
Total            436,685,417.16    879,496.80      -           -           -             879,496.80      879,496.80       -
</TABLE>

<PAGE>

                            COLLECTION ACCOUNT REPORT

<TABLE>
<CAPTION>
          SUMMARY                                                       TOTAL
-------------------------------                                      ------------
<S>                                                                  <C>
Principal Collections                                                7,711,609.58
Principal Withdrawals                                                        0.00
Principal Other Accounts                                                     0.00
TOTAL PRINCIPAL                                                      7,711,609.58

Interest Collected                                                     895,727.90
Interest Withdrawals                                                         0.00
Interest Other Accounts                                                      6.11
Fees                                                                  (16,237.21)
TOTAL INTEREST                                                         879,496.80

TOTAL AVAILABLE TO CERTIFICATEHOLDERS                                8,591,106.38
</TABLE>

<TABLE>
<CAPTION>
     PRINCIPAL - COLLECTIONS                                             TOTAL
-------------------------------                                      ------------
<S>                                                                  <C>
Scheduled Principal                                                          0.00
Curtailments                                                         1,093,488.15
Prepayments In Full                                                  6,618,121.43
Repurchased Principal Amounts                                                0.00
Substitution Principal Amount                                                0.00
Liquidations                                                                 0.00
Insurance Principal                                                          0.00
Other Principal                                                              0.00
Total Realized Loss Of Principal                                             0.00

TOTAL PRINCIPAL COLLECTED                                            7,711,609.58
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
PRINCIPAL - WITHDRAWALS                                                 TOTAL
-----------------------                                                 -----
<S>                                                                     <C>
                            SPACE INTENTIONALLY LEFT BLANK
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - OTHER ACCOUNTS                                              TOTAL
--------------------------                                              -----
<S>                                                                     <C>
Amounts remaining in Pre-Funding Account                                 0.00
</TABLE>

<TABLE>
<CAPTION>
INTEREST - COLLECTIONS                                                  TOTAL
----------------------                                              ------------
<S>                                                                 <C>
Scheduled Interest                                                  1,017,969.33
Repurchased Interest                                                        0.00
Substitution Interest Amount                                                0.00
Liquidation Interest                                                        0.00
Insurance Interest                                                          0.00
Other Interest                                                              0.00

Delinquent Interest                                                  (908,500.75)
Interest Advanced                                                     786,259.32
Prepayment Interest Shortfalls                                         (5,948.80)
Compensating Interest                                                   5,948.80
Civil Relief Act Shortfalls                                                 0.00

TOTAL INTEREST COLLECTED                                              895,727.90
</TABLE>

<TABLE>
<CAPTION>
INTEREST - WITHDRAWALS                                                  TOTAL
----------------------                                                  -----
<S>                                                                     <C>
Current Nonrecoverable Advances                                         0.00

TOTAL INTEREST WITHDRAWALS                                              0.00
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
INTEREST - OTHER ACCOUNTS                                                                          TOTAL
-------------------------                                                                          -----
<S>                                                                                                <C>
Basis Risk Shortfall                                                                                0.00
Basis Risk Reserve Fund Interest Earnings                                                           6.11

TOTAL INTEREST OTHER ACCOUNTS                                                                       6.11
</TABLE>

<TABLE>
<CAPTION>
INTEREST - FEES                                                                                  TOTAL
-------------------------                                                                        -----
<S>                                                                                            <C>
Current Servicing Fees                                                                         14,781.59
Trustee Fee                                                                                     1,455.62

TOTAL FEES                                                                                     16,237.21
</TABLE>

<PAGE>

                            CREDIT ENHANCEMENT REPORT

<TABLE>
<CAPTION>
ACCOUNTS                                                                                        TOTAL
--------                                                                                      ---------
<S>                                                                                           <C>
BASIS RISK RESERVE FUND

Beginning Balance                                                                             10,000.00
Basis Risk Deposit                                                                                 0.00
Basis Risk Shortfall paid                                                                          0.00
Investment Earnings distributed to the Class X Bondholder                                          6.11
Ending Balance                                                                                10,000.00
</TABLE>

<TABLE>
<CAPTION>
INSURANCE                                                                                        TOTAL
---------                                                                                        -----
<S>                                                                                              <C>
                                         SPACE INTENTIONALLY LEFT BLANK
</TABLE>

<TABLE>
<CAPTION>
STRUCTURAL FEATURES                                                            TOTAL
-------------------                                                         ----------
<S>                                                                         <C>
Pro Rata Senior Percentage                                                   95.877124%
Senior Percentage                                                           100.000000%
Subordinate Percentage                                                        0.000000%
Senior Prepayment Percentage                                                100.000000%
Subordinate Percentage                                                        0.000000%
</TABLE>

<PAGE>

                                COLLATERAL REPORT

<TABLE>
<CAPTION>
COLLATERAL                                                                           TOTAL
----------                                                                           -----
<S>                                                                              <C>
Loan Count:
ORIGINAL                                                                                   1254
Prior                                                                                     1,075
Prefunding                                                                                    -
Scheduled Paid Offs                                                                           -
Full Voluntary Prepayments                                                                  (21)
Repurchases                                                                                   -
Liquidations                                                                                  -
Current                                                                                   1,054

PRINCIPAL BALANCES:
Original                                                                         514,382,196.83
Prior                                                                            436,685,417.99
Prefunding                                                                                    -
Scheduled Principal                                                                           -
Partial and Full Voluntary Prepayments                                            (7,711,609.58)
Repurchases                                                                                   -
Liquidations                                                                                  -
Current                                                                          428,973,808.41
</TABLE>

<TABLE>
<CAPTION>
PREFUNDING                                                                                TOTAL
----------                                                                                -----
<S>                                                                                       <C>
                                       SPACE INTENTIONALLY LEFT BLANK
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
CHARACTERISTICS                                                                   TOTAL
---------------                                                                   -----
<S>                                                                             <C>
Weighted Average Coupon Original                                                3.667751%
Weighted Average Coupon Prior                                                   2.860327%
Weighted Average Coupon Current                                                 2.797353%
Weighted Average Months to Maturity Original
Weighted Average Months to Maturity Prior
Weighted Average Months to Maturity Current
Weighted Avg Remaining Amortization Term Original
Weighted Avg Remaining Amortization Term Prior
Weighted Avg Remaining Amortization Term Current
Weighted Average Seasoning Original
Weighted Average Seasoning Prior
Weighted Average Seasoning Current
</TABLE>

Note: Original information refers to deal issue.

<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                                              TOTAL
-------------------                                                              -----
<S>                                                                             <C>
Weighted Average Margin Original                                                 1.652%
Weighted Average Margin Prior                                                    1.643%
Weighted Average Margin Current                                                  1.643%
Weighted Average Max Rate Original                                              12.000%
Weighted Average Max Rate Prior                                                 12.000%
Weighted Average Max Rate Current                                               12.000%
Weighted Average Min Rate Original                                               1.652%
Weighted Average Min Rate Prior                                                  1.643%
Weighted Average Min Rate Current                                                1.643%
Weighted Average Cap Up Original                                                 0.000%
Weighted Average Cap Up Prior                                                    0.000%
Weighted Average Cap Up Current                                                  0.000%
Weighted Average Cap Down Original                                               0.000%
Weighted Average Cap Down Prior                                                  0.000%
Weighted Average Cap Down Current                                                0.000%
</TABLE>

Note: Original information refers to deal issue.

<PAGE>

<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES                                                            TOTAL
-------------------------                                                            -----
<S>                                                                              <C>
Current Servicing Fees                                                             14,781.59
Delinquent Servicing Fees                                                         122,241.43
TOTAL SERVICING FEES                                                              137,023.02

Total Servicing Fees                                                              137,023.02
Compensating Interest                                                              (5,948.80)
Delinquent Servicing Fees                                                        (122,241.43)
COLLECTED SERVICING FEES                                                            8,832.79

Prepayment Interest Shortfall                                                       5,948.80

Total Advanced Interest                                                           786,259.32

Current Nonrecoverable Advances                                                         0.00
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL COLLATERAL INFORMATION                                                   TOTAL
---------------------------------                                                   -----
<S>                                                                              <C>
Mortgage Loans which adjust based on One-Month LIBOR                                     0.00
Mortgage Loans which adjust based on Six-Month LIBOR                                     0.00

Special Hazard Loss Coverage Amount                                              5,800,000.00
Current Special Hazard Losses                                                            0.00
Cumulative Special Hazard Losses                                                         0.00
Bankruptcy Loss Coverage Amount                                                    100,000.00
Current Bankruptcy Losses                                                                0.00
Cumulative Bankruptcy Losses                                                             0.00
Fraud Loss Coverage Amount                                                       9,267,516.97
Current Fraud Losses                                                                     0.00
Cumulative Fraud Losses                                                                  0.00
</TABLE>

<PAGE>

                           DELINQUENCY REPORT - TOTAL

<TABLE>
<CAPTION>
                           <1 PAYMENT      1 PAYMENT       2  PAYMENTS               3+ PAYMENTS                     TOTAL
                           ----------      ---------       -----------               -----------                     -----
<S>            <C>         <C>             <C>             <C>                       <C>                             <C>
DELINQUENT      Balance                          -                -                         -                            -
               % Balance                      0.00%            0.00%                     0.00%                        0.00%
               # Loans                           -                -                         -                            -
               % # Loans                      0.00%            0.00%                     0.00%                        0.00%
FORECLOSURE    Balance            -              -                -                         -                            -
               % Balance       0.00%          0.00%            0.00%                     0.00%                        0.00%
               # Loans            -              -                -                         -                            -
               % # Loans       0.00%          0.00%            0.00%                     0.00%                        0.00%
BANKRUPTCY     Balance            -              -                -                         -                            -
               % Balance       0.00%          0.00%            0.00%                     0.00%                        0.00%
               # Loans            -              -                -                         -                            -
               % # Loans       0.00%          0.00%            0.00%                     0.00%                        0.00%
REO            Balance            -              -                -                         -                            -
               % Balance       0.00%          0.00%            0.00%                     0.00%                        0.00%
               # Loans            -              -                -                         -                            -
               % # Loans       0.00%          0.00%            0.00%                     0.00%                        0.00%
TOTAL          Balance            -              -                -                         -                            -
               % Balance       0.00%          0.00%            0.00%                     0.00%                        0.00%
               # Loans            -              -                -                         -                            -
               % # Loans       0.00%          0.00%            0.00%                     0.00%                        0.00%
</TABLE>

Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+
Payments = 90+
<PAGE>

     REO REPORT - MORTGAGE LOANS THAT BECOME REO DURING CURRENT DISTRIBUTION

<TABLE>
<CAPTION>
                  SUMMARY                                                       LOAN GROUP
-------------------------------------------               --------------------------------------------------------
<S>                                                       <C>
Total Loan Count =   0                                    Loan Group 1  =  MSDW Group;   REO Book Value  =  000.00
Total Original Principal Balance =   000.00
Total Current Balance =   000.00
REO Book Value =   000.00
</TABLE>

REO Book Value reported corresponds to total REO loans, including loans that
become REO during current distribution.

<TABLE>
<CAPTION>
   Loan
  Number     Original     Stated               Current   State &
    &        Principal   Principal   Paid to    Note      LTV at      Original   Origination
Loan Group    Balance     Balance      Date     Rate    Origination     Term        Date
--------------------------------------------------------------------------------------------
<S>          <C>         <C>         <C>       <C>      <C>           <C>        <C>
                             SPACE INTENTIONALLY LEFT BLANK
</TABLE>

<PAGE>

       FORECLOSURE REPORT - MORTGAGE LOANS THAT BECOME FORECLOSURE DURING
                              CURRENT DISTRIBUTION

<TABLE>
<CAPTION>
                  SUMMARY                                           LOAN GROUP
-------------------------------------------               --------------------------------
<S>                                                       <C>
Total Loan Count =   0                                    Loan Group 1  =  MSDW Group
Total Original Principal Balance =   000.00
Total Current Balance =   000.00
</TABLE>

<TABLE>
<CAPTION>
   Loan
  Number     Original     Stated               Current   State &
    &        Principal   Principal   Paid to    Note      LTV at      Original   Origination
Loan Group    Balance     Balance      Date     Rate    Origination     Term        Date
--------------------------------------------------------------------------------------------
<S>          <C>         <C>         <C>       <C>      <C>           <C>        <C>
                             SPACE INTENTIONALLY LEFT BLANK
</TABLE>

<PAGE>

                    PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS

<TABLE>
<CAPTION>
       VOLUNTARY PREPAYMENTS                                           TOTAL
--------------------------------------------------------------------------------
<S>                                                                 <C>
CURRENT
Number of Paid in Full Loans                                                  21
Number of Repurchased Loans                                                    -
--------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full                                         21

Paid in Full Balance                                                6,618,121.43
Repurchased Loans Balance                                                      -
Curtailments Amount                                                 1,093,488.15
--------------------------------------------------------------------------------
Total Prepayment Amount                                             7,711,609.58

CUMULATIVE
Number of Paid in Full Loans                                                 200
Number of Repurchased Loans                                                    -
--------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full                                        200

Paid in Full Balance                                               73,095,088.62
Repurchased Loans Balance                                                      -
Curtailments Amount                                                12,313,299.80
--------------------------------------------------------------------------------
Total Prepayment Amount                                            85,408,388.42
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
     VOLUNTARY PREPAYMENT RATES                                           TOTAL
--------------------------------------------------------------------------------
<S>                                                                       <C>
SMM                                                                         1.77%
3 Months Avg SMM                                                            1.42%
12 Months Avg SMM                                                           1.09%
Avg SMM Since Cut-off                                                       1.00%

CPR                                                                        19.25%
3 Months Avg CPR                                                           15.80%
12 Months Avg CPR                                                          12.29%
Avg CPR Since Cut-off                                                      11.40%

PSA                                                                       466.32%
3 Months Avg  PSA Approximation                                           402.44%
12 Months Avg PSA Approximation                                           406.08%
Avg PSA Since Cut-off Approximation                                       469.60%
</TABLE>

PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments +
Repurchases)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)to the power of 12)

PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)*
(1-SMMn+1) *.......*(1-SMMm)]to the power of(1/months in period n,m)

Average CPR over period between the nth month and mth month (AvgCPRn,m):
1-((1-AvgSMMn,m)to the power of 12)

Average PSA Approximation over period between the nth month and mth month:
AvgCPRn,m/(0.02*Avg WASn,m))

Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of
months in the period n,m)

Weighted Average Seasoning (WAS)

Note:    Prepayment rates are calculated since deal issue date and include
         partial and full voluntary prepayments and repurchases. Dates
         correspond to distribution dates.
<PAGE>

  PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION

<TABLE>
<CAPTION>
SUMMARY                                               LOAN GROUP
-------                                               ----------
<S>                                                   <C>
Total Loan Count = 21                                 Loan Group 1 = MSDW Group
Total Original Principal Balance = 7,506,675.00
Total Prepayment Amount = 6,618,121.43
</TABLE>

<TABLE>
<CAPTION>
Loan Number                 Original                                 Current        State &         Type Prepayment
     &         Loan        Principal    Prepayment     Prepayment      Note          LTV at                &           Origination
Loan Group    Status        Balance       Amount          Date         Rate       Origination        Original Term         Date
----------    ------       ---------    ----------     ----------    -------      -----------      ----------------    -----------
<S>           <C>        <C>            <C>            <C>           <C>          <C>              <C>                 <C>
390440865 1                193,200.00   193,200.00     Sep-17-03      3.375%      FL  -  80.00%    Paid Off  -  300     Oct-30-01
390441954 1                401,225.00   401,014.12     Sep-29-03      2.875%      GA -  100.00%    Paid Off  -  300     Oct-31-01
390443570 1                217,000.00   216,966.10     Sep-04-03      3.000%      CA  -  56.66%    Paid Off  -  300     Nov-13-01
390444331 1                118,000.00    99,902.37     Sep-30-03      2.875%      CA  -  36.31%    Paid Off  -  300     Jan-11-02
390446046 1                440,000.00   437,352.89     Sep-25-03      2.625%      NY  -  80.00%    Paid Off  -  300     Jan-23-02
390446440 1                833,750.00   833,750.00     Sep-17-03      2.875%      TX  -  79.78%    Paid Off  -  300     Dec-14-01
390446754 1              1,000,000.00   999,886.99     Sep-26-03      3.500%      PA  -  43.57%    Paid Off  -  300     Feb-23-02
390447249 1                300,000.00   300,000.00     Sep-25-03      2.625%      MA  -  66.67%    Paid Off  -  300     Feb-11-02
390447569 1                250,000.00   250,000.00     Sep-15-03      3.000%      MA  -  50.00%    Paid Off  -  300     Feb-16-02
390447639 1                400,000.00   399,387.51     Sep-24-03      2.625%      MI  -  69.57%    Paid Off  -  300     Feb-14-02
390447721 1                615,000.00   615,000.00     Sep-18-03      3.000%      ID  -  26.74%    Paid Off  -  300     Feb-25-02
390447787 1                128,800.00   128,800.00     Sep-29-03      3.000%      IN  -  80.00%    Paid Off  -  300     Jan-24-02
390447957 1                 68,000.00    67,792.06     Sep-23-03      2.625%      CA  -  80.00%    Paid Off  -  300     Jan-31-02
390447998 1                140,000.00   140,000.00     Sep-25-03      2.625%      CA  -  80.00%    Paid Off  -  300     Jan-30-02
390448140 1              1,000,000.00   133,415.39     Sep-10-03      3.500%      VA  -  19.05%    Paid Off  -  300     Feb-28-02
390448159 1                157,700.00   157,653.99     Sep-15-03      3.000%      TN  -  77.68%    Paid Off  -  300     Feb-21-02
390448343 1                357,000.00   357,000.01     Sep-26-03      3.250%      MA  -  75.16%    Paid Off  -  300     Jan-31-02
390448546 1                121,000.00   121,000.00     Sep-15-03      3.000%      NY  -  67.22%    Paid Off  -  300     Feb-07-02
390448608 1                160,000.00   160,000.00     Sep-12-03      3.000%     CA  -  100.00%    Paid Off  -  300     Feb-11-02
390449535 1                116,000.00   116,000.00     Sep-30-03      3.000%      NJ  -  78.91%    Paid Off  -  300     Feb-18-02
390450398 1                490,000.00   490,000.00     Sep-03-03      2.625%      MN  -  70.00%    Paid Off  -  300     Feb-04-02
</TABLE>

<PAGE>

                        REALIZED LOSS REPORT - COLLATERAL

<TABLE>
<CAPTION>
COLLATERAL REALIZED LOSSES                     TOTAL
--------------------------                     -----
<S>                                            <C>
CURRENT
Number of Loans Liquidated                       -
Collateral Realized Loss/(Gain) Amount           -
Net Liquidation Proceeds                         -

CUMULATIVE
Number of Loans Liquidated                       -
Collateral Realized Loss/(Gain) Amount           -
Net Liquidation Proceeds                         -
</TABLE>

Note: Collateral Realized Loss Amount may include adjustments to loans
      liquidated in prior periods.

                         SPACE INTENTIONALLY LEFT BLANK

<PAGE>

<TABLE>
<CAPTION>
DEFAULT SPEEDS                                        TOTAL
--------------                                        -----
<S>                                                   <C>
MDR                                                   0.00%
3 Months Avg MDR                                      0.00%
12 Months Avg MDR                                     0.00%
Avg MDR Since Cut-off                                 0.00%

CDR                                                   0.00%
3 Months Avg CDR                                      0.00%
12 Months Avg CDR                                     0.00%
Avg CDR Since Cut-off                                 0.00%

SDA                                                   0.00%
3 Months Avg SDA Approximation                        0.00%
12 Months Avg SDA Approximation                       0.00%
Avg SDA Since Cut-off Approximation                   0.00%

Loss Severity Approximation for Current Period
3 Months Avg Loss Severity Approximation
12 Months Avg Loss Severity Approximation
Avg Loss Severity Approximation Since Cut-off
</TABLE>

COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY

Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total
Beg Principal Balance)

Conditional Default Rate (CDR): 1-((1-MDR) to the power of 12)

SDA Standard Default Assumption: CDR/IF(WAS < 61, MIN(30, WAS)*0.02, MAX(0.03,
MIN(30, WAS)*0.02-0.0095*(WAS-60)))

Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)*
(1-MDRn+1) *.......*(1-MDRm)] to the power of(1/months in period n,m)

Average CDR over period between the nth month and mth month (AvgCDRn,m):
1-((1-AvgMDRn,m) to the power of 12)

Average SDA Approximation over period between the nth month and mth month:

AvgCDRn,m/IF(Avg WASn,m < 61, MIN(30, Avg WASn,m)*0.02, MAX(0.03, MIN(30,Avg
WASn,m)*0.02-0.0095*(Avg WASn,m-60)))

Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period
n,m)

Loss Severity Approximation for current period: sum(Realized Loss
Amount)/sum(Beg Principal Balance of Liquidated Loans)

Average Loss Severity Approximation over period between nth month and mth month:
Avg(Loss Severityn,m)

Note: Default rates are calculated since deal issue date and include realized
      gains and additional realized losses and gains from prior periods.

      Dates correspond to distribution dates.

<PAGE>

   REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION

<TABLE>
<CAPTION>
SUMMARY                                              LOAN GROUP
-------                                              ----------
<S>                                                  <C>
Total Loan Count = 0                                 Loan Group 1 = MSDW Group
Total Original Principal Balance = 0.00
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
</TABLE>

Note: Total Realized Loss Amount may include adjustments to loans liquidated in
      prior periods.

<TABLE>
<CAPTION>
   Loan
  Number                     Original      Prior                      Current       State &
    &            Loan       Principal    Principal      Realized        Note        LTV at        Original    Origination
Loan Group      Status       Balance      Balance      Loss/(Gain)      Rate      Origination       Term          Date
----------      ------       -------      -------      -----------      ----      -----------       ----          ----
<S>            <C>          <C>          <C>           <C>            <C>         <C>             <C>         <C>
                                               SPACE INTENTIONALLY LEFT BLANK
</TABLE>

<PAGE>

               TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT

<TABLE>
<CAPTION>
TRIGGER EVENTS                                                            TOTAL
---------------                                                           -----
<S>                                                                       <C>
                         SPACE INTENTIONALLY LEFT BLANK
</TABLE>

<TABLE>
<CAPTION>
ADJUSTABLE RATE CERTIFICATE INFORMATION                                   TOTAL
---------------------------------------                                   -----
<S>                                                                       <C>
                         SPACE INTENTIONALLY LEFT BLANK
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL INFORMATION                                             TOTAL
----------------------                                             -----
<S>                                                                <C>
Basis Risk Shortfall
Class A                                                             0.00
Class B-1                                                           0.00
Class B-2                                                           0.00
Class B-3                                                           0.00
Unpaid Basis Risk Shortfall
Class A                                                             0.00
Class B-1                                                           0.00
Class B-2                                                           0.00
Class B-3                                                           0.00
</TABLE><PAGE>

                                                                    EXHIBIT 10.1

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

                                SMT SERIES 2002-8
                        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>
   1-A1     81743RAA0      SEN           1.25000%                 0.00          0.00          0.00
   1-A2     81743RAB8      SEN           3.45500%        40,088,476.08    115,421.40  3,971,813.32
    2A      81743RAC6      SEN           1.42000%       396,742,418.80    469,478.53  4,742,314.17
    3A      81743RAD4      SEN           2.97547%        40,356,298.34    100,065.76    773,671.77
    X-1     81743RAE2       IO           1.80531%                 0.00     63,310.23          0.00
   X-2A    81743RAFf9       IO           1.02396%                 0.00    140,985.50          0.00
   X-2B     81743AFG7       IO           1.22551%                 0.00    236,441.19          0.00
    X-B     81743RAH5       IO           1.28129%                 0.00      9,683.34          0.00
    A-R     81743RAJ1      SEN           5.37281%                 0.00          0.00          0.00
    B-1     81743RAK8      SUB           1.79500%         9,069,000.00     13,565.71          0.00
    B-2     81743RAL6      SUB           3.07629%         5,505,000.00     14,112.47          0.00
    B-3     81743RAM4      SUB           3.07629%         3,886,000.00     9,962 .05          0.00
    B-4     SMT0208B4      SUB           3.07629%         1,618,000.00      4,147.86          0.00
    B-5     SMT0208B5      SUB           3.07629%           970,000.00      2,486.67          0.00
    B-6     SMT0208B6      SUB           3.07629%         2,306,324.82      5,912.43          0.00

--------------------------------------------------------------------------------------------------
Totals                                                  500,541,518.04  1,182,573.14  9,487,799.26
--------------------------------------------------------------------------------------------------

<CAPTION>
                               Ending
              Current       Certificate       Total       Cumulative
   Class   Realized Loss      Balance      Distribution  Realized Loss
----------------------------------------------------------------------
<S>        <C>            <C>             <C>            <C>
   1-A1        0.00                 0.00           0.00      0.00
   1-A2        0.00        36,116,662.76   4,087,234.72      0.00
    2A         0.00       392,000,104.63   5,211,792.70      0.00
    3A         0.00        39,582,626.57     873,737.53      0.00
    X-1        0.00                 0.00      60,310.23      0.00
   X-2A        0.00                 0.00     140,985.50      0.00
   X-2B        0.00                 0.00     236,441.19      0.00
    X-B        0.00                 0.00       9,683.34      0.00
    A-R        0.00                 0.00           0.00      0.00
    B-1        0.00         9,069,000.00      13,565.71      0.00
    B-2        0.00         5,505,000.00      14,112.47      0.00
    B-3        0.00         3,886,000.00       9,962.05      0.00
    B-4        0.00         1,618,000.00       4,147.86      0.00
    B-5        0.00           970,000.00       2,486.67      0.00
    B-6        0.00         2,306,324.82       5,912.43      0.00

-----------------------------------------------------------------
Totals         0.00       491,053,718.78  10,670,372.40      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>
   1-A1    50,000,000.00            0.00       0.00               0.00     0.00       0.00
   1-A2    61,468,000.00   40,088,476.08       0.00       3,971,813.32     0.00       0.00
    2A    463,097,000.00  396,742,418.80       0.00       4,742,314.17     0.00       0.00
    3A     49,973,000.00   40,356,298.34       0.00         773,671.77     0.00       0.00
    X-1             0.00            0.00       0.00               0.00     0.00       0.00
   X-2A             0.00            0.00       0.00               0.00     0.00       0.00
   X-2B             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     9,069,000.00    9,069,000.00       0.00               0.00     0.00       0.00
    B-2     5,505,000.00    5,505,000.00       0.00               0.00     0.00       0.00
    B-3     3,886,000.00    3,886,000.00       0.00               0.00     0.00       0.00
    B-4     1,618,000.00    1,618,000.00       0.00               0.00     0.00       0.00
    B-5       970,000.00      970,000.00       0.00               0.00     0.00       0.00
    B-6     2,306,324.82    2,306,324.82       0.00               0.00     0.00       0.00
------------------------------------------------------------------------------------------
Totals    647,892,424.82  500,541,518.04       0.00       9,487,799.26     0.00       0.00
------------------------------------------------------------------------------------------

<CAPTION>

          Total Principal  Ending Certificate  Ending Certificate   Total Principal
   Class     Reduction          Balance            Percentage        Distribution
-----------------------------------------------------------------------------------
<S>       <C>              <C>                 <C>                  <C>
   1-A1             0.00               0.00        0.00000000                0.00
   1-A2     3,971,813.32      36,116,662.76        0.58756854        3,971,813.32
    2A      4,742,314.17     392,000,104.63        0.84647515        4,742,314.17
    3A        773,671.77      39,582,626.57        0.79208025          773,671.77
    X-1             0.00               0.00        0.00000000                0.00
   X-2A             0.00               0.00        0.00000000                0.00
   X-2B             0.00               0.00        0.00000000                0.00
    X-B             0.00               0.00        0.00000000                0.00
    A-R             0.00               0.00        0.00000000                0.00
    B-1             0.00       9,069,000.00        1.00000000                0.00
    B-2             0.00       5,505,000.00        1.00000000                0.00
    B-3             0.00       3,886,000.00        1.00000000                0.00
    B-4             0.00       1,618,000.00        1.00000000                0.00
    B-5             0.00         970,000.00        1.00000000                0.00
    B-6             0.00       2,306,324.82        1.00000000                0.00
---------------------------------------------------------------------------------
Totals      9,487,799.26     491,053,718.78        0.75792477        9,487,799.26
---------------------------------------------------------------------------------
</TABLE>

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

                    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>
   1-A1    50,000,000.00     0.00000000   0.00000000     0.00000000  0.00000000  0.00000000
   1-A2    61,468,000.00   652.18448754   0.00000000    64.61595171  0.00000000  0.00000000
    2A    463,097,000.00   856.71558831   0.00000000    10.24043380  0.00000000  0.00000000
    3A     49,973,000.00   807.56205031   0.00000000    15.48179557  0.00000000  0.00000000
    X-1             0.00     0.00000000   0.00000000     0.00000000  0.00000000  0.00000000
   X-2A             0.00     0.00000000   0.00000000     0.00000000  0.00000000  0.00000000
   X-2B             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     9,069,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
    B-2     5,505,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
    B-3     3,886,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
    B-4     1,618,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
    B-5       970,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
    B-6     2,306,324.82  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
-------------------------------------------------------------------------------------------

<CAPTION>
          Total Principal  Ending Certificate  Ending Certificate   Total Principal
   Class     Reduction          Balance            Percentage        Distribution
-----------------------------------------------------------------------------------
<S>       <C>              <C>                 <C>                  <C>
   1-A1      0.00000000          0.00000000        0.00000000          0.00000000
   1-A2     64.61595171        587.56853582        0.58756854         64.61595171
    2A      10.24043380        846.47515451        0.84647515         10.24043380
    3A      15.48179557        792.08025474        0.79208025         15.48179557
    X-1      0.00000000          0.00000000        0.00000000          0.00000000
   X-2A      0.00000000          0.00000000        0.00000000          0.00000000
   X-2B      0.00000000          0.00000000        0.00000000          0.00000000
    X-B      0.00000000          0.00000000        0.00000000          0.00000000
    A-R      0.00000000          0.00000000        0.00000000          0.00000000
    B-1      0.00000000       1000.00000000        1.00000000          0.00000000
    B-2      0.00000000       1000.00000000        1.00000000          0.00000000
    B-3      0.00000000       1000.00000000        1.00000000          0.00000000
    B-4      0.00000000       1000.00000000        1.00000000          0.00000000
    B-5      0.00000000       1000.00000000        1.00000000          0.00000000
    B-6      0.00000000       1000.00000000        1.00000000          0.00000000
---------------------------------------------------------------------------------
</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>
  1-A1     50,000,000.00         1.25000%             0.00          0.00      0.00       0.00       0.00
  1-A2     61,468,000.00         3.45500%    40,088,476.08    115,421.40      0.00       0.00       0.00
   2A     463,097,000.00         1.42000%   396,742,418.80    469,478.53      0.00       0.00       0.00
   3A      49,973,000.00         2.97547%    40,356,298.34    100,065.76      0.00       0.00       0.00
   X-1              0.00         1.80531%    40,088,476.08     60,310.23      0.00       0.00       0.00
  X-2A              0.00         1.02396%   165,223,318.73    140,985.50      0.00       0.00       0.00
  X-2B              0.00         1.22551%   231,519,100.07    236,441.20      0.00       0.00       0.00
   X-B              0.00         1.28129%     9,069,000.00      9,683.34      0.00       0.00       0.00
   A-R            100.00         5.37281%             0.00          0.00      0.00       0.00       0.00
   B-1      9,069,000.00         1.79500%     9,069,000.00     13,565.71      0.00       0.00       0.00
   B-2      5,505,000.00         3.07629%     5,505,000.00     14,112.47      0.00       0.00       0.00
   B-3      3,886,000.00         3.07629%     3,886,000.00      9,962.05      0.00       0.00       0.00
   B-4      1,618,000.00         3.07629%     1,618,000.00      4,147.86      0.00       0.00       0.00
   B-5        970,000.00         3.07629%       970,000.00      2,486.67      0.00       0.00       0.00
   B-6      2,306,324.82         3.07629%     2,306,324.82      5,912.43      0.00       0.00       0.00
--------------------------------------------------------------------------------------------------------
 Totals   647,892,424.82                                    1,182,573.15      0.00       0.00       0.00
--------------------------------------------------------------------------------------------------------

<CAPTION>
                                    Remaining     Ending
                                    Unpaid      Certificate/
          Realized  Total Interest  Interest     Notational
  Class   Loss (4)   Distribution   Shortfall     Balance
-------------------------------------------------------------
<S>       <C>       <C>             <C>        <C>
  1-A1       0.00           0.00       0.00              0.00
  1-A2       0.00     115,421.40       0.00     36,116,662.76
   2A        0.00     469,478.53       0.00    392,000,104.63
   3A        0.00     100,065.76       0.00     39,582,626.57
   X-1       0.00      60,310.23       0.00     36,116,662.76
  X-2A       0.00     140,985.50       0.00    161,831,796.26
  X-2B       0.00     236,441.19       0.00    230,168,308.37
   X-B       0.00       9,683.34       0.00      9,069,000.00
   A-R       0.00           0.00       0.00              0.00
   B-1       0.00      13,565.71       0.00      9,069,000.00
   B-2       0.00      14,112.47       0.00      5,505,000.00
   B-3       0.00       9,962.05       0.00      3,886,000.00
   B-4       0.00       4,147.86       0.00      1,618,000.00
   B-5       0.00       2,486.67       0.00        970,000.00
   B-6       0.00       5,912.43       0.00      2,306,324.82
-------------------------------------------------------------
 Totals      0.00   1,182,573.14       0.00
-------------------------------------------------------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                           Payment of                 Non-
                             Current        Beginning                        Unpaid      Current   Supported
           Original Face   Certificate   Certificate/     Current Accrued   Interest    Interest    Interest
Class (5)       Amount         Rate     Notional Balance      Interest     Shortfall    Shortfall  Shortfall
-------------------------------------------------------------------------------------------------------------
<S>        <C>             <C>          <C>               <C>              <C>         <C>         <C>
  1-A1      50,000,000.00    1.25000%        0.00000000      0.00000000    0.00000000  0.00000000  0.00000000
  1-A2      61,468,000.00    3.45500%      652.18448754      1.87774777    0.00000000  0.00000000  0.00000000
   2A      463,097,000.00    1.42000%      856.71558831      1.01378012    0.00000000  0.00000000  0.00000000
   3A       49,973,000.00    2.97547%      807.56205031      2.00239649    0.00000000  0.00000000  0.00000000
   X-1               0.00    1.80531%      359.64111745      0.54105420    0.00000000  0.00000000  0.00000000
  X-2A               0.00    1.02396%      877.14571564      0.74847079    0.00000000  0.00000000  0.00000000
  X-2B               0.00    1.22551%      842.70807646      0.86062406    0.00000000  0.00000000  0.00000000
   X-B               0.00    1.28129%     1000.00000000      1.06774065    0.00000000  0.00000000  0.00000000
   A-R             100.00    5.37281%        0.00000000      0.00000000    0.00000000  0.00000000  0.00000000
   B-1       9,069,000.00    1.79500%     1000.00000000      1.49583306    0.00000000  0.00000000  0.00000000
   B-2       5,505,000.00    3.07629%     1000.00000000      2.56357312    0.00000000  0.00000000  0.00000000
   B-3       3,886,000.00    3.07629%     1000.00000000      2.56357437    0.00000000  0.00000000  0.00000000
   B-4       1,618,000.00    3.07629%     1000.00000000      2.56357231    0.00000000  0.00000000  0.00000000
   B-5         970,000.00    3.07629%     1000.00000000      2.56357732    0.00000000  0.00000000  0.00000000
   B-6       2,306,324.82    3.07629%     1000.00000000      2.56357212    0.00000000  0.00000000  0.00000000
-------------------------------------------------------------------------------------------------------------

<CAPTION>
                                                       Remaining
                                                         Unpaid
           Original Face    Realized   Total Interest   Interest   Ending Certificate/
Class (5)       Amount      Loss (6)    Distribution   Shortfall   Notational Balance
--------------------------------------------------------------------------------------
<S>        <C>             <C>         <C>             <C>         <C>
  1-A1      50,000,000.00  0.00000000     0.00000000   0.00000000        0.00000000
  1-A2      61,468,000.00  0.00000000     1.87774777   0.00000000      587.56853582
   2A      463,097,000.00  0.00000000     1.01378012   0.00000000      846.47515451
   3A       49,973,000.00  0.00000000     2.00239649   0.00000000      792.08025474
   X-1               0.00  0.00000000     0.54105420   0.00000000      324.00924714
  X-2A               0.00  0.00000000     0.74847079   0.00000000      859.14063363
  X-2B               0.00  0.00000000     0.86062403   0.00000000      837.79131980
   X-B               0.00  0.00000000     1.06774065   0.00000000     1000.00000000
   A-R             100.00  0.00000000     0.00000000   0.00000000        0.00000000
   B-1       9,069,000.00  0.00000000     1.49583306   0.00000000     1000.00000000
   B-2       5,505,000.00  0.00000000     2.56357312   0.00000000     1000.00000000
   B-3       3,886,000.00  0.00000000     2.56357437   0.00000000     1000.00000000
   B-4       1,618,000.00  0.00000000     2.56357231   0.00000000     1000.00000000
   B-5         970,000.00  0.00000000     2.56357732   0.00000000     1000.00000000
   B-6       2,306,324.82  0.00000000     2.56357212   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.

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                           10,830,475.02
         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                                                        10,830,475.02

Withdrawals
         Reimbursement for Servicer Advances                                   0.00
         Payment of Service Fee                                          160,102.62
         Payment of Interest and Principal                            10,670,372.40
                                                                      -------------
Total Withdrawals (Pool Distribution Amount)                          10,830,475.02

Ending Balance                                                                 0.00
                                                                      =============
</TABLE>

<PAGE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                                            <C>
Total Prepayment/Curtailment Interest Shortfall                                0.00
Servicing Fee Support                                                          0.00
                                                                               ----

Non-Supported Prepayment Curtailment Interest Shortfall                        0.00
                                                                               ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                         <C>
Gross Servicing Fee                                                         156,348.55
Master Servicing Fee                                                          3,754.07
Non-Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                            ----------

Net Servicing Fee                                                           160,102.62
                                                                            ==========
</TABLE>

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

<PAGE>

             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        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
<C>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0          0.00   0-29 Days      0          0.00
30 Days        0          0.00   30 Days        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>
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       647,892,324.82    99.99998457%   491,053,718.78    100.00000000%     95.244039%         0.000000%
Class 1-A-1   597,892.324.82    92.28265402%   491,053,718.78    100.00000000%      0.000000%         0.000000%
Class 1-A-2   536,424,324.82    82.79527654%   454,937,056.02     92.64506888%      7.354931%       154.646572%
Class 2A       73,327,324.82    11.31782407%    62,936,951.39     12.81671414%     79.828355%     1,678.490419%
Class 3A       23,354,324.82     3.60466089%    23,354,324.82      4.75596130%      8.060753%       169.487351%
Class X-1      23,354,324.82     3.60466089%    23,354,324.82      4.75596130%      0.000000%         0.000000%
Class B-1      14,285,324.82     2.20489147%    14,285,324.82      2.90911651%      1.846845%        38.832208%
Class B-2       8,780,324.82     1.35521338%     8,780,324.82      1.78805709%      1.121059%        23.571651%
Class B-3       4,894,324.82     0.75542245%     4,894,324.82      0.99669845%      0.791359%        16.639316%
Class B-4       3,276,324.82     0.50568963%     3,276,324.82      0.66720293%      0.329496%         6.928053%
Class B-5       2,306,324.82     0.35597342%     2,306,324.82      0.46966854%      0.197534%         4.153406%
Class B-6               0.00     0.00000000%             0.00      0.00000000%      0.469669%         9.875365%
</TABLE>

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

<TABLE>
<CAPTION>
                   Original $          Original %          Current $         Current %
<S>               <C>                  <C>               <C>                <C>
    Bankruptcy       126,045.00        0.01945462%          126,045.00      0.02566827%
         Fraud    19,436,773.00        3.00000004%       10,357,716.80      2.10928385%
Special Hazard    15,500,000.00        2.39237247%       15,499,500.00      3.15637565%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<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        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
<C>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0          0.00   0-29 Days      0          0.00
30 Days        0.         0.00   30 Days        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>

                                     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        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
<C>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0          0.00   0-29 Days      0          0.00
30 Days        0          0.00   30 Days        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>

                                     GROUP 3

<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
<C>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0          0.00   0-29 Days      0          0.00
30 Days        0          0.00   30 Days        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                                3.218936%
Weighted Average Net Coupon                                  2.844105%
Weighted Average Pass-Through Rate                           2.835105%
Weighted Average Maturity (Stepdown Calculation)                  317

Beginning Scheduled Collateral Loan Count                       1,322
Number of Loans Paid in Full                                       23
Ending Scheduled Collateral Loan Count                          1,299

Beginning Scheduled Collateral Balance                 500,541,518.04
Ending Scheduled Collateral Balance                    491,053,718.78
Ending Actual Collateral Balance at 30-Sept-2003       491,047,211.85

Monthly P&I Constant                                     1,342,675.76
Special Servicing Fee                                            0.00
Prepayment Penalties                                             0.00
Realization Loss Amount                                          0.00
Cumulative Realized Loss                                         0.00

Class A Optimal Amount                                  10,610,501.88

Ending Scheduled Balance for Premium Loans             491,053,718.78

Scheduled Principal                                              0.00
Unscheduled Principal                                    9,487,799.26
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
One Month Libor Loan Balance                                     168,971,420.08
Six Month Libor Loan Balance - POOL 1                             40,279,945.65
Six Month Libor Loan Balance - POOL 2                            240,322,772.29
Six Month Libor Loan Balance - POOL 3                             41,479,580.76
Pro Rata Senior Percent                                               95.334188%
Senior Percentage                                                    100.000000%
Senior Prepay Percentage                                             100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                 GROUP                           1                   2                     3                   TOTAL
<S>                                         <C>              <C>                      <C>                 <C>
Collateral Description                          Mixed ARM         Mixed ARM               Mixed ARM            Mixed ARM
Weighted Average Coupon Rate                     5.519314          2.958732                3.359469             3.218936
Weighted Average Net Rate                        5.269314          2.570577                2.984469             2.844105
Pass-Through Rate                                5.260314          2.561577                2.975469             2.835105
Weighted Average Maturity                             341               308                     345                  317
Record Date                                    09/30/2003        09/30/2003              09/30/2003           09/30/2003
Principal and Interest Constant                203,532.78      1,020,852.57              118,290.41         1,342,675.76
Beginning Loan Count                                   90             1,106                     126                1,322
Loans Paid in Full                                      8                13                       2                   23
Ending Loan Count                                      82             1,093                     124                1,299
Beginning Scheduled Balance                 44,251,758.97    414,036,506.54           42,253,252.53       500,541,518.04
Ending Scheduled Balance                    40,279,945.65    409,294,192.37           41,479,580.76       491,053,718.78
Scheduled Principal                                  0.00              0.00                    0.00                 0.00
Unscheduled Principal                        3,971,813.32      4,742,314.17              773,671.77         9,487,799.26
Scheduled Interest                             203,532.78      1,020,852.57              118,290.41         1,342,675.76
Servicing Fee                                    9,219.12        133,925.29               13,204.14           156,348.55
Master Servicing Fee                               331.89          3,105.28                  316.90             3,754.07
Trustee Fee                                          0.00               0.00                   0.00                 0.00
FRY Amount                                           0.00               0.00                   0.00                 0.00
Special Hazard Fee                                   0.00               0.00                   0.00                 0.00
Other Fee                                            0.00               0.00                   0.00                 0.00
Pool Insurance Fee                                   0.00               0.00                   0.00                 0.00
Spread 1                                             0.00               0.00                   0.00                 0.00
Spread 2                                             0.00               0.00                   0.00                 0.00
Spread 3                                             0.00               0.00                   0.00                 0.00
Net Interest                                   193,981.77         883,822.00             104,769.37         1,182,573.14
Realized Loss Amount                                 0.00               0.00                   0.00                 0.00
Cumulative Realized Loss                             0.00               0.00                   0.00                 0.00
Percentage of Cumulative Losses                      0.00               0.00                   0.00                 0.00
Prepayment Penalties                                 0.00               0.00                   0.00                 0.00
Special Servicing Fee                                0.00               0.00                   0.00                 0.00
</TABLE>

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"}]]