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 2002-10
RECORD DATE: FEBRUARY 27, 2004
DISTRIBUTION DATE: MARCH 22, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate
Class Pass-Through Beginning Interest Principal
Class CUSIP Description Rate Certificate Balance Distribution Distribution
- ------ --------- ----------- ------------ ------------------- ------------ ------------
1A 81743VAA1 SEN 1.49125% 705,567,686.23 876,814.85 7,407,415.21
2A-1 81743VAB9 SEN 1.47125% 161,582,115.52 198,106.41 1,037,251.81
2A-2 81743VAN3 SEN 1.77125% 3,500,000.00 5,166.15 0.00
X-1A 81743VAC7 IO 1.14345% 0.00 316,012.94 0.00
X-1B 81743VAD5 IO 1.28885% 0.00 401,613.55 0.00
X-2 81743VAP8 IO 1.30393% 0.00 179,379.50 0.00
X-B 81743VAE3 IO 0.72360% 0.00 15,512.16 0.00
A-R 81743VAF0 SEN 3.37721% 0.00 0.00 0.00
B-1 81743VAG8 SUB 1.89125% 12,600,000.00 19,858.13 0.00
B-2 81743VAH6 SUB 1.89125% 8,400,000.00 13,238.75 0.00
B-3 81743VAJ2 SUB 2.49125% 4,725,000.00 9,809.30 0.00
B-4 SMT0210B4 SUB 2.72505% 2,625,000.00 5,961.05 0.00
B-5 SMT0210B5 SUB 2.72505% 2,100,000.00 4,768.84 0.00
B-6 SMT0210B6 SUB 2.72505% 3,685,162.00 8,368.55 0.00
--------- --- ------- -------------- ------------ ------------
Totals 904,784,963.75 2,054,610.18 8,444,667.02
--------- --- ------- -------------- ------------ ------------
Current Ending Certificate Total Cumulative
Class CUSIP Realized Loss Balance Distribution Realized Loss
- ------ --------- ------------- ------------------ -------------- -------------
1A 81743VAA1 0.00 698,160,271.02 8,284,230.06 0.00
2A-1 81743VAB9 0.00 160,544,863.71 1,235,358.22 0.00
2A-2 81743VAN3 0.00 3,500,000.00 5,166.15 0.00
X-1A 81743VAC7 0.00 0.00 316,012.94 0.00
X-1B 81743VAD5 0.00 0.00 401,613.55 0.00
X-2 81743VAP8 0.00 0.00 179,379.50 0.00
X-B 81743VAE3 0.00 0.00 15,512.16 0.00
A-R 81743VAF0 0.00 0.00 0.00 0.00
B-1 81743VAG8 0.00 12,600,000.00 19,858.13 0.00
B-2 81743VAH6 0.00 8,400,000.00 13,238.75 0.00
B-3 81743VAJ2 0.00 4,725,000.00 9,809.30 0.00
B-4 SMT0210B4 0.00 2,625,000.00 5,961.05 0.00
B-5 SMT0210B5 0.00 2,100,000.00 4,768.84 0.00
B-6 SMT0210B6 0.00 3,685,162.00 8,368.55 0.00
--------- ---- -------------- ------------- ----
Totals 0.00 896,340,296.73 10,499,277.20 0.00
--------- ---- -------------- ------------- ----
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
- ------ --------------- -------------- ------------ ------------- --------- ---------
1A 822,375,000.00 705,567,686.23 0.00 7,407,415.21 0.00 0.00
2A-1 190,000,000.00 161,582,115.52 0.00 1,037,251.81 0.00 0.00
2A-2 3,500,000.00 3,500,000.00 0.00 0.00 0.00 0.00
X-1A 0.00 0.00 0.00 0.00 0.00 0.00
X-1B 0.00 0.00 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00 0.00 0.00
X-B 0.00 0.00 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
B-1 12,600,000.00 12,600,000.00 0.00 0.00 0.00 0.00
B-2 8,400,000.00 8,400,000.00 0.00 0.00 0.00 0.00
B-3 4,725,000.00 4,725,000.00 0.00 0.00 0.00 0.00
B-4 2,625,000.00 2,625,000.00 0.00 0.00 0.00 0.00
B-5 2,100,000.00 2,100,000.00 0.00 0.00 0.00 0.00
B-6 3,685,162.00 3,685,162.00 0.00 0.00 0.00 0.00
---------------- -------------- ------------ ------------- --------- ---------
Totals 1,050,010,262.00 904,784,963.75 0.00 8,444,667.02 0.00 0.00
---------------- -------------- ------------ ------------- --------- ---------
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ------ --------------- ------------------ ------------------ ---------------
1A 7,407,415.21 698,160,271.02 0.84895610 7,407,415.21
2A-1 1,037,251.81 160,544,863.71 0.84497297 1,037,251.81
2A-2 0.00 3,500,000.00 1.00000000 0.00
X-1A 0.00 0.00 0.00000000 0.00
X-1B 0.00 0.00 0.00000000 0.00
X-2 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 12,600,000.00 1.00000000 0.00
B-2 0.00 8,400,000.00 1.00000000 0.00
B-3 0.00 4,725,000.00 1.00000000 0.00
B-4 0.00 2,625,000.00 1.00000000 0.00
B-5 0.00 2,100,000.00 1.00000000 0.00
B-6 0.00 3,685,162.00 1.00000000 0.00
--------------- ------------------ ------------------ ---------------
Totals 8,444,667.02 896,340,296.73 0.85364908 8,444,667.02
--------------- ------------------ ------------------ ---------------
(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
Scheduled Unscheduled
Original Face Beginning Principal Principal Realized
Class Amount Certificate Balance Distribution Distribution Accretion Loss (3)
- ------ ---------------- ------------------- ------------ ------------ ---------- ----------
1A 822,375,000.00 857.96344275 0.00000000 9.00734484 0.00000000 0.00000000
2A-1 190,000,000.00 850.43218695 0.00000000 5.45922005 0.00000000 0.00000000
2A-2 3,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 12,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 8,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 4,725,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 2,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 2,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 3,685,162.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Ending
Total Principal Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ------ --------------- ------------- ------------------ ----------------
1A 9.00734484 848.95609791 0.84895610 9.00734484
2A-1 5.45922005 844.97296689 0.84497297 5.45922005
2A-2 0.00000000 1000.00000000 1.00000000 0.00000000
X-1A 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00000000 0.00000000 0.00000000 0.00000000
X-2 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
(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.
Beginning Payment of
Current Certificate/ Current Unpaid Current
Original Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
- ------ -------------- ----------- -------------- ------------ ---------- ---------
1A 822,375,000.00 1.49125% 705,567,686.23 876,814.84 0.00 0.00
2A-1 190,000,000.00 1.47125% 161,582,115.52 198,106.41 0.00 0.00
2A-2 3,500,000.00 1.77125% 3,500,000.00 5,166.15 0.00 0.00
X-1A 0.00 1.14345% 331,640,667.97 316,012.94 0.00 0.00
X-1B 0.00 1.28885% 373,927,018.26 401,613.55 0.00 0.00
X-2 0.00 1.30393% 165,082,115.52 179,379.50 0.00 0.00
X-B 0.00 0.72360% 25,725,000.00 15,512.16 0.00 0.00
A-R 100.00 3.37721% 0.00 0.00 0.00 0.00
B-1 12,600,000.00 1.89125% 12,600,000.00 19,858.13 0.00 0.00
B-2 8,400,000.00 1.89125% 8,400,000.00 13,238.75 0.00 0.00
B-3 4,725,000.00 2.49125% 4,725,000.00 9,809.30 0.00 0.00
B-4 2,625,000.00 2.72505% 2,625,000.00 5,961.05 0.00 0.00
B-5 2,100,000.00 2.72505% 2,100,000.00 4,768.84 0.00 0.00
B-6 3,685,162.00 2.72505% 3,685,162.00 8,368.55 0.00 0.00
- ------ ---------------- ----------- -------------- ------------ ---------- ---------
Totals 1,050,010,262.00 2,054,610.17 0.00 0.00
- ------ ---------------- ----------- -------------- ------------ ---------- ---------
Non- Remaining Ending
Supported Unpaid Certificate/
Interest Realized Total Interest Interest Notational
Class Shortfall Loss (4) Distribution Shortfall Balance
- ------ --------- -------- -------------- --------- ---------------
1A 0.00 0.00 876,814.85 0.00 698,160,271.02
2A-1 0.00 0.00 198,106.41 0.00 160,544,863.71
2A-2 0.00 0.00 5,166.15 0.00 3,500,000.00
X-1A 0.00 0.00 316,012.94 0.00 328,582,389.78
X-1B 0.00 0.00 401,613.55 0.00 369,577,881.23
X-2 0.00 0.00 179,379.50 0.00 164,044,863.71
X-B 0.00 0.00 15,512.16 0.00 25,725,000.00
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 19,858.13 0.00 12,600,000.00
B-2 0.00 0.00 13,238.75 0.00 8,400,000.00
B-3 0.00 0.00 9,809.30 0.00 4,725,000.00
B-4 0.00 0.00 5,961.05 0.00 2,625,000.00
B-5 0.00 0.00 4,768.84 0.00 2,100,000.00
B-6 0.00 0.00 8,368.55 0.00 3,685,162.00
- ------ --------- -------- -------------- --------- ---------------
Totals 0.00 0.00 2,054,610.18 0.00
- ------ --------- -------- -------------- --------- ---------------
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.
INTEREST DISTRIBUTION FACTORS STATEMENT
Beginning Payment of
Current Certificate/ Current Unpaid Current
Original Face Certificate Notional Accrued Interest Interest
Class(5) Amount Rate Balance Interest Shortfall Shortfall
- -------- -------------- ----------- -------------- ---------- ---------- ----------
1A 822,375,000.00 1.49125% 857.96344275 1.06619832 0.00000000 0.00000000
2A-1 190,000,000.00 1.47125% 850.43218695 1.04266532 0.00000000 0.00000000
2A-2 3,500,000.00 1.77125% 1000.00000000 1.47604286 0.00000000 0.00000000
X-1A 0.00 1.14345% 843.95571244 0.80418643 0.00000000 0.00000000
X-1B 0.00 1.28885% 870.78198038 0.93525695 0.00000000 0.00000000
X-2 0.00 1.30393% 853.13754791 0.92702584 0.00000000 0.00000000
X-B 0.00 0.72360% 1000.00000000 0.60299942 0.00000000 0.00000000
A-R 100.00 3.37721% 0.00000000 0.00000000 0.00000000 0.00000000
B-1 12,600,000.00 1.89125% 1000.00000000 1.57604206 0.00000000 0.00000000
B-2 8,400,000.00 1.89125% 1000.00000000 1.57604167 0.00000000 0.00000000
B-3 4,725,000.00 2.49125% 1000.00000000 2.07604233 0.00000000 0.00000000
B-4 2,625,000.00 2.72505% 1000.00000000 2.27087619 0.00000000 0.00000000
B-5 2,100,000.00 2.72505% 1000.00000000 2.27087619 0.00000000 0.00000000
B-6 3,685,162.00 2.72505% 1000.00000000 2.27087710 0.00000000 0.00000000
Non- Remaining
Supported Unpaid
Interest Realized Total Interest Interest Ending Certificate/
Class(5) Shortfall Loss (6) Distribution Shortfall Notational Balance
- -------- ---------- ---------- -------------- ---------- -------------------
1A 0.00000000 0.00000000 1.06619833 0.00000000 848.95609791
2A-1 0.00000000 0.00000000 1.04266532 0.00000000 844.97296689
2A-2 0.00000000 0.00000000 1.47604286 0.00000000 1000.00000000
X-1A 0.00000000 0.00000000 0.80418643 0.00000000 836.17303801
X-1B 0.00000000 0.00000000 0.93525695 0.00000000 860.65393407
X-2 0.00000000 0.00000000 0.92702584 0.00000000 847.77707344
X-B 0.00000000 0.00000000 0.60299942 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 1.57604206 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 1.57604167 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 2.07604233 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 2.27087619 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 2.27087619 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 2.27087710 0.00000000 1000.00000000
(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
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 10,688,374.89
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 421.82
Realized Losses 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 10,688,796.71
Withdrawals
Reimbursement for Servicer Advances 1,022.65
Payment of Service Fee 188,496.86
Payment of Interest and Principal 10,499,277.20
-------------
Total Withdrawals (Pool Distribution Amount) 10,688,796.71
Ending Balance 0.00
=============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
---------
Non-Supported Prepayment Curtailment Interest Shortfall 0.00
=========
SERVICING FEES
Gross Servicing Fee 188,496.86
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 188,496.86
==========
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- --------------------------------- --------- ----------- -------- ---------
Class X-A Basis Risk Reserve Fund 8,000.00 0.00 0.00 8,000.00
Class X-B Basis Risk Reserve Fund 2,000.00 0.00 0.00 2,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE
- ----------------------------------- ------------------------------- ---------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
------ --------- ------- --------- -------- ----------
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 1 202,471.80
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 1 202,471.80
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 0.041615% 0.022589%
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% 0.041615% 0.022589%
REO TOTAL
- ------------------------------------ ----------------------------------------
No. of Principal No.of Principal
Loans Balance Loans Balance
------ ---------- ----- ----------
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 1 202,471.80
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
---- ---- ---- ----------
0 0.00 1 202,471.80
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 0.041615% 0.022589%
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% 0.041615% 0.022589%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 421.82
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original% Current $ Current% Current Class% Prepayment%
---------------- ----------- -------------- ------------ ------------- ------------
Class A 1,050,010,162.00 99.99999048% 896,340,296.73 100.00000000% 96.191718% 0.000000%
Class 1A 227,635,162.00 21.67932736% 198,180,025.71 22.10990920% 77.890091% 2,045.281845%
Class 2-A-1 37,635,162.00 3.58426611% 37,635,162.00 4.19875823% 17.911151% 470.321083%
Class 2-A-2 34,135,162.00 3.25093604% 34,135,162.00 3.80828153% 0.390477% 10.253357%
Class X-1-A 34,135,162.00 3.25093604% 34,136,162.00 3.80828153% 0.000000% 0.000000%
Class X-1-B 34,135,162.00 3.25093604% 34,13,5162.00 3.80828153% 0.000000% 0.000000%
Class X-2 34,135,162.00 3.25093604% 34,135,162.00 3.80828153% 0.000000% 0.000000%
Class B-1 21,535,162.00 2.05094776% 21,535,162.00 2.40256542% 1.405716% 36.912085%
Class B-2 13,135,162.00 1.25095558% 13,135,162.00 1.46542134% 0.937144% 24.608057%
Class B-3 8,410,162.00 0.80095998% 8,410,162.00 0.93827780% 0.527144% 13.842032%
Class B-4 5,785,162.00 0.55096242% 5,785,162.00 0.64542027% 0.292858% 7.690018%
Class B-5 3,685,162.00 0.35096438% 3,685,162.00 0.41113425% 0.234286% 6.152014%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.411134% 10.795795%
Please refer to the prospectus supplement for a full description of loss
exposure
Original $ Original% Current $ Current%
Bankruptcy 163,046.00 0.01552804% 163,046.00 0.01819019%
Fraud 31,500,308.00 3.00000001% 18,795,490.62 2.09691461%
Special Hazard 11,240,000.00 1.07046573% 10,511,415.24 1.17270363%
Limit of subordinate's exposure to certain types of losses
DELINQUENCY STATUS BY GROUP
GROUP 1
DELINQUENT BANKRUPTCY FORECLOSURE
- ---------------------------------- -------------------------------- -----------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 1 202,471.80
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 1 202,471.80
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 0.052687% 0.027897%
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% 0.052687% 0.027897%
REO TOTAL
- ---------------------------------- -----------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 1 202,471.80
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+Days 0 0.00
-------- -------- -------- ----------
0 0.00 1 202,471.80
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 0.052687% 0.027897%
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% 0.052687% 0.027897%
GROUP 2
DELINQUENT BANKRUPTCY FORECLOSURE
- ------------------------------------- --------------------------------- ---------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
-------- -------- -------- -------- -------- --------
0 0.00 0 0.00 0. 0.00
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- -------- -------- -------- -------- --------
0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- ---------------------------------- ----------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
-------- -------- -------- ----------
0 0.00 0 0.00
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- --------- -------- ---------
0.000000% 0.000000% 0.000000% 0.000000%
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 2.974992%
Weighted Average Net Coupon 2.724992%
Weighted Average Pass-Through Rate 2.724992%
Weighted Average Maturity (Stepdown Calculation) 281
Beginning Scheduled Collateral Loan Count 2,428
Number of Loans Paid in Full 25
Ending Scheduled Collateral Loan Count 2,403
Beginning Scheduled Collateral Balance 904,784,963.75
Ending Scheduled Collateral Balance 896,340,296.72
Ending Actual Collateral Balance at Feb-27-2004 896,340,298.27
Monthly P&I Constant 2,243,107.03
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realization Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 10,421,760.41
Ending Scheduled Balance for Premium Loans 896,340.296.72
Scheduled Principal 0.00
Unscheduled Principal 8,444,667.02
GROUP 1 2 TOTAL
Collateral Description Mixed ARM 6 Month ARM Mixed ARM
Weighted Average Coupon Rate 2.961759 3.031540 2.974992
Weighted Average Net Rate 2.711759 2.781540 2.724992
Pass-Through Rate 2.711759 2.781540 2.724992
Weighted Average Maturity 281 281 281
Record Date 02/27/2004 02/27/2004 02/27/2004
Principal and Interest Constant 1,809,634.04 433,472.99 2,243,107.03
Beginning Loan Count 1,920 508 2,428
Loans Paid in Full 22 3 25
Ending Loan Count 1,898 505 2,403
Beginning Scheduled Balance 733,199,683.23 171,585,280.52 904,784,963.75
Ending Scheduled Balance 725,792,268.01 170,548,028.71 896,340,296.72
Scheduled Principal 0.01 0.00 0.01
Unscheduled Principal 7,407,415.21 1,037,251.81 8,444,667.02
Scheduled Interest 1,809,634.03 433,472.99 2,243,107.02
Servicing Fee 152,749.93 35,746.93 188,496.86
Master Servicing Fee 0.00 0.00 0.00
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 1,656,884.10 397,726.06 2,054,610.16
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
MISCELLANEOUS REPORTING
Group 1
One Month LIBOR Loans 341,587,122.34
Six Month LIBOR Loans 384,205,145.67
Pro Rata Senior Percentage 96.231314%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%
Group 2
Pro Rata Senior Percentage 96.209952%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%