EXHIBIT 10.1
CONTACT: CUSTOMER SERVICES -- CTSLINK
WELLS FARGO BANK MINNESOTA, N.A.
SECURITIES ADMINISTRATION SERVICES
7485 NEW HORIZON WAY
FREDERICK, MD 21703
WWW.CTSLINK.COM
TELEPHONE: (301) 815-6600
FAX: (301) 315-6660
SMT SERIES 2003-3
RECORD DATE: FEBRUARY 27, 2004
DISTRIBUTION DATE: MARCH 22, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal Current
Class CUSIP Description Rate Balance Distribution Distribution Realized Loss
- -------------------------------------------------------------------------------------------------------------------------------
A-1 81743PAT3 SEN 1.42125% 350,600,044.96 415,241.93 5,047,659.73 0.00
A-2 81743PAU0 SEN 1.57000% 138,891,570.48 181,716.47 1,024,382.57 0.00
X-1A 81743PAV8 IO 0.96042% 0.00 77,234.15 0.00 0.00
X-1B 81743PAW6 IO 1.22769% 0.00 259,962.66 0.00 0.00
X-2 81743PAX4 IO 1.06981% 0.00 123,823.28 0.00 0.00
X-B 81743PAY2 IO 0.85238% 0.00 6,446.09 0.00 0.00
A-R 81743PBA3 R 2.42091% 0.00 0.00 0.00 0.00
B-1 81743PBB1 SUB 1.74125% 9,075,000.00 13,168.20 0.00 0.00
B-2 81743PBC9 SUB 2.59363% 4,675,000.00 10,104.33 0.00 0.00
B-3 81743PBD7 SUB 2.59363% 2,475,000.00 5,349.35 0.00 0.00
B-4 81743PBE5 SUB 2.59363% 1,650,000.00 3,566.23 0.00 0.00
B-5 81743PBF2 SUB 2.59363% 825,000.00 1,783.12 0.00 0.00
B-6 81743PBG0 SUB 2.59363% 1,925,608.17 4,161.92 0.00 0.00
- --------------------------------------------------------------------------------------------------------------------------
Totals 510,117,223.61 1,102,557.73 6,072,042.30 0.00
- --------------------------------------------------------------------------------------------------------------------------
Ending
Certificate Total Cumulative
Class CUSIP Balance Distribution Realized Loss
----- ----- ------- ------------ -------------
A-1 81743PAT3 345,552,385.23 5,462,901.66 0.00
A-2 81743PAU0 137,867,187.91 1,206,099.04 0.00
X-1A 81743PAV8 0.00 77,234.15 0.00
X-1B 81743PAW6 0.00 259,962.66 0.00
X-2 81743PAX4 0.00 123,823.28 0.00
X-B 81743PAY2 0.00 6,446.09 0.00
A-R 81743PBA3 0.00 0.00 0.00
B-1 81743PBB1 9,075,000.00 13,168.20 0.00
B-2 81743PBC9 4,675,000.00 10,104.33 0.00
B-3 81743PBD7 2,475,000.00 5,349.35 0.00
B-4 81743PBE5 1,650,000.00 3,566.23 0.00
B-5 81743PBF2 825,000.00 1,783.12 0.00
B-6 81743PBG0 1,925,608.17 4,161.92 0.00
- -------------------------------------------------------------------------
Totals 504,045,181.31 7,174,600.03 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 Total
Original Face Certificate Principal Principal Realized Principal
Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction
- --------------------------------------------------------------------------------------------------------------------------
A-1 379,455,000.00 350,600,044.96 209.83 5,047,449.90 0.00 0.00 5,047,659.73
A-2 149,922,000.00 138,891,570.48 88.02 1,024,294.55 0.00 0.00 1,024,382.57
X-1A 0.00 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 0.00
X-2 0.00 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 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 9,075,000.00 9,075,000.00 0.00 0.00 0.00 0.00 0.00
B-2 4,675,000.00 4,675,000.00 0.00 0.00 0.00 0.00 0.00
B-3 2,475,000.00 2,475,000.00 0.00 0.00 0.00 0.00 0.00
B-4 1,650,000.00 1,650,000.00 0.00 0.00 0.00 0.00 0.00
B-5 825,000.00 825,000.00 0.00 0.00 0.00 0.00 0.00
B-6 1,925,608.17 1,925,608.17 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------------------
Totals 550,002,708.17 510,117,223.61 297.85 6,071,744.45 0.00 0.00 6,072,042.30
- --------------------------------------------------------------------------------------------------------------------------
Ending Ending
Certificate Certificate Total Principal
Class Balance Percentage Distribution
- -------------------------------------------------------------------
A-1 345,552,385.23 0.91065445 5,047,659.73
A-2 137,867,187.91 0.91959277 1,024,382.57
X-1A 0.00 0.00000000 0.00
X-1B 0.00 0.00000000 0.00
X-2 0.00 0.00000000 0.00
X-B 0.00 0.00000000 0.00
A-R 0.00 0.00000000 0.00
B-1 9,075,000.00 1.00000000 0.00
B-2 4,675,000.00 1.00000000 0.00
B-3 2,475,000.00 1.00000000 0.00
B-4 1,650,000.00 1.00000000 0.00
B-5 825,000.00 1.00000000 0.00
B-6 1,925,608.17 1.00000000 0.00
- -------------------------------------------------------------------
Totals 504,045,181.31 0.91644127 6,072,042.30
- -------------------------------------------------------------------
(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
Beginning Scheduled Unscheduled Total
Original Face Certificate Principal Principal Realized Principal
Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction
- ------------------------------------------------------------------------------------------------------------------------
A-1 379,455,000.00 923.95684590 0.00055298 13.30184053 0.00000000 0.00000000 13.30239351
A-2 149,922,000.00 926.42554448 0.00058711 6.83218307 0.00000000 0.00000000 6.83277017
X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 9,075,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 4,675,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 2,475,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 1,650,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 825,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 1,925,608.17 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
- ------------------------------------------------------------------------------------------------------------------------
Ending Ending
Certificate Certificate Total Principal
Class Balance Percentage Distribution
- --------------------------------------------------------------------
A-1 910.65445239 0.91065445 13.30239351
A-2 919.59277431 0.91959277 6.83277017
X-1A 0.00000000 0.00000000 0.00000000
X-1B 0.00000000 0.00000000 0.00000000
X-2 0.00000000 0.00000000 0.00000000
X-B 0.00000000 0.00000000 0.00000000
A-R 0.00000000 0.00000000 0.00000000
B-1 1000.00000000 1.00000000 0.00000000
B-2 1000.00000000 1.00000000 0.00000000
B-3 1000.00000000 1.00000000 0.00000000
B-4 1000.00000000 1.00000000 0.00000000
B-5 1000.00000000 1.00000000 0.00000000
B-6 1000.00000000 1.00000000 0.00000000
- -------------------------------------------------------------------
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.
INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Non-
Current Certificate/ Current Unpaid Current Supported
Original Face Certificate Notional Accrued Interest Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall Shortfall
- ------------------------------------------------------------------------------------------------------------------------
A-1 379,455,000.00 1.42125% 350,600,044.96 415,241.93 0.00 0.00 0.00
A-2 149,922,000.00 1.57000% 138,891,570.48 181,716.47 0.00 0.00 0.00
X-1A 0.00 0.96042% 96,500,415.41 77,234.15 0.00 0.00 0.00
X-1B 0.00 1.22769% 254,099,629.55 259,962.66 0.00 0.00 0.00
X-2 0.00 1.06981% 138,891,570.48 123,823.28 0.00 0.00 0.00
X-B 0.00 0.85238% 9,075,000.00 6,446.09 0.00 0.00 0.00
A-R 100.00 2.42091% 0.00 0.00 0.00 0.00 0.00
B-1 9,075,000.00 1.74125% 9,075,000.00 13,168.20 0.00 0.00 0.00
B-2 4,675,000.00 2.59363% 4,675,000.00 10,104.33 0.00 0.00 0.00
B-3 2,475,000.00 2.59363% 2,475,000.00 5,349.35 0.00 0.00 0.00
B-4 1,650,000.00 2.59363% 1,650,000.00 3,566.23 0.00 0.00 0.00
B-5 825,000.00 2.59363% 825,000.00 1,783.12 0.00 0.00 0.00
B-6 1,925,608.17 2.59363% 1,925,608.17 4,161.92 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
Totals 550,002,708.17 1,102,557.73 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
Remaining Ending
Unpaid Certificate/
Realized Total Interest Interest Notational
Class Loss (4) Distribution Shortfall Balance
- --------------------------------------------------------------------------
A-1 0.00 415,241.93 0.00 345,552,385.23
A-2 0.00 181,716.47 0.00 137,867,187.91
X-1A 0.00 77,234.15 0.00 94,403,720.57
X-1B 0.00 259,962.66 0.00 251,148,664.66
X-2 0.00 123,823.28 0.00 137,867,187.91
X-B 0.00 6,446.09 0.00 9,075,000.00
A-R 0.00 0.00 0.00 0.00
B-1 0.00 13,168.20 0.00 9,075,000.00
B-2 0.00 10,104.33 0.00 4,675,000.00
B-3 0.00 5,349.35 0.00 2,475,000.00
B-4 0.00 3,566.23 0.00 1,650,000.00
B-5 0.00 1,783.12 0.00 825,000.00
B-6 0.00 4,161.92 0.00 1,925,608.17
- --------------------------------------------------------------------------
Totals 0.00 1,102,557.73 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
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
- ---------------------------------------------------------------------------------------------------------------------
A-1 379,455,000.00 1.42125% 923.95684590 1.09431139 0.00000000 0.00000000 0.00000000
A-2 149,922,000.00 1.57000% 926.42554448 1.21207341 0.00000000 0.00000000 0.00000000
X-1A 0.00 0.96042% 957.04521165 0.76597156 0.00000000 0.00000000 0.00000000
X-1B 0.00 1.22769% 911.98242599 0.93302528 0.00000000 0.00000000 0.00000000
X-2 0.00 1.06981% 926.42554448 0.82591801 0.00000000 0.00000000 0.00000000
X-B 0.00 0.85238% 1000.00000000 0.71031295 0.00000000 0.00000000 0.00000000
A-R 100.00 2.42091% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 9,075,000.00 1.74125% 1000.00000000 1.45104132 0.00000000 0.00000000 0.00000000
B-2 4,675,000.00 2.59363% 1000.00000000 2.16135401 0.00000000 0.00000000 0.00000000
B-3 2,475,000.00 2.59363% 1000.00000000 2.16135354 0.00000000 0.00000000 0.00000000
B-4 1,650,000.00 2.59363% 1000.00000000 2.16135152 0.00000000 0.00000000 0.00000000
B-5 825,000.00 2.59363% 1000.00000000 2.16135758 0.00000000 0.00000000 0.00000000
B-6 1,925,608.17 2.59363% 1000.00000000 2.16135352 0.00000000 0.00000000 0.00000000
- ---------------------------------------------------------------------------------------------------------------------
Remaining
Unpaid
Realized Total Interest Interest Ending Certificate/
Class (5) Loss (6) Distribution Shortfall Notational Balance
- --------------------------------------------------------------------------------
A-1 0.00000000 1.09431139 0.00000000 910.65445239
A-2 0.00000000 1.21207341 0.00000000 919.59277431
X-1A 0.00000000 0.76597156 0.00000000 936.25118970
X-1B 0.00000000 0.93302528 0.00000000 901.39119402
X-2 0.00000000 0.82591801 0.00000000 919.59277431
X-B 0.00000000 0.71031295 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1.45104132 0.00000000 1000.00000000
B-2 0.00000000 2.16135401 0.00000000 1000.00000000
B-3 0.00000000 2.16135354 0.00000000 1000.00000000
B-4 0.00000000 2.16135152 0.00000000 1000.00000000
B-5 0.00000000 2.16135758 0.00000000 1000.00000000
B-6 0.00000000 2.16135352 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 7,332,661.26
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 11,190.70
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
------------
Total Deposits 7,343,851.96
Withdrawals
Reimbursement for Servicer Advances 5,266.76
Payment of Service Fee 163,985.15
Payment of Interest and Principal 7,174,600.05
------------
Total Withdrawals (Pool Distribution Amount) 7,343,851.96
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 159,734.18
Master Servicing Fee 4,250.97
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 163,985.15
==========
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- ------------------------------------------------------------------------------------------
Reserve Fund 5,000.00 0.00 0.00 5,000.00
Reserve Fund 2,500.00 0.00 0.00 2,500.00
Reserve Fund 2,500.00 0.00 0.00 2,500.00
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 15 4,538,756.96 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 239,960.78 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 1 332,848.86 120 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
----------------------- ---------------------- -----------------
17 5,111,566.60 0 0.00 0 0.00
----------------------- ---------------------- -----------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 1.001335% 0.900465% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.066756% 0.047607% 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 0.66756% 0.066035% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------------------------- --------------------------- ----------------------
1.134846% 1.014107% 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 15 4,538,756.96
60 Days 0 0.00 60 Days 1 239,960.78
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 1 332,848.86
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
----------------------- ----------------------
0 0.00 17 5,111,566.60
----------------------- ----------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 1.001335% 0.900465%
60 Days 0.000000% 0.000000% 60 Days 0.066756% 0.047607%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.066756% 0.066035%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------------------------- --------------------------
0.000000% 0.000000% 1.134846% 1.014107%
--------------------------- --------------------------
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 11,190.70
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original % Current $ Current % Current Class % Prepayment %
---------- ---------- --------- --------- --------------- ------------
Class A 20,625,608.17 3.75009211% 20,625,608.17 4.09201574% 95.907984% 0.000000%
Class X-1-A 20,625,608.17 3.75009211% 20,625,608.17 4.09201574% 0.000000% 0.000000%
Class X-1-B 20,625,608.17 3.75009211% 20,625,608.17 4.09201574% 0.000000% 0.000000%
Class X-2 20,625,608.17 3.75009211% 20,625,608.17 4.09201574% 0.000000% 0.000000%
Class B-1 11,550,608.17 2.10010024% 11,550,608.17 2.29158191% 1.800434% 43.998703%
Class B-2 6,875,608.17 1.25010442% 6,875,608.17 1.36408569% 0.927496% 22.665998%
Class B-3 4,400,608.17 0.80010664% 4,400,608.17 0.87305828% 0.491027% 11.999646%
Class B-4 2,750,608.17 0.50010811% 2,750,608.17 0.54570667% 0.327352% 7.999764%
Class B-5 1,925,608.17 0.35010885% 1,925,608.00 0.38203087% 0.163676% 3.999882%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.382031% 9.336007%
Please refer to the prospectus supplement for a full description of loss
exposure
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 11 3,078,540.24 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 1 332,848.86 120 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
------------------------ ---------------------- -----------------------
12 3,411,389.10 0 0.00 0 0.00
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 1.036758% 0.854351% 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 0.094251% 0.092372% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
------------------------ ---------------------- -----------------------
1.131008% 0.946722% 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 11 3,078,540.24
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 1 332,848.86
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--------------------- --------------------------
0 0.00 12 3,411,389.10
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 1.036758% 0.854351%
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 0.094251% 0.092372%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------------------- --------------------------
0.000000% 0.000000% 1.131008% 0.946722%
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 4 1,460,216.72 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 239,960.78 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
------------------------ ---------------------- -----------------------
5 1,700,177.50 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 0.915332% 1.016091% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.228833% 0.166977% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
------------------------ ---------------------- -----------------------
1.144165% 1.183068% 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 4 1,460,216.72
60 Days 0 0.00 60 Days 1 239,960.78
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--------------------- --------------------------
0 0.00 5 1,700,177.50
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 0.915332% 1.016091%
60 Days 0.000000% 0.000000% 60 Days 0.228833% 0.166977%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------------------- --------------------------
0.000000% 0.000000% 1.144165% 1.183068%
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 2.979416%
Weighted Average Net Coupon 2.603657%
Weighted Average Pass-Through Rate 2.593657%
Weighted Average Maturity (Stepdown Calculation) 349
Beginning Scheduled Collateral Loan Count 1,510
Number of Loans Paid in Full 12
Ending Scheduled Collateral Loan Count 1,498
Beginning Scheduled Collateral Balance 510,117,223.61
Ending Scheduled Collateral Balance 504,045,181.31
Ending Actual Collateral Balance at 27-Feb-2004 504,046,105.73
Monthly P&I Constant 1,266,840.75
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 7,130,020.79
Ending Scheduled Balance for Premium Loans 504,045,181.31
Scheduled Principal 297.85
Unscheduled Principal 6,071,744.45
MISCELLANEOUS REPORTING
Group 1 One Month Libor Loan Balance 98,442,628.33
Group 1 Six Month Libor Loan Balance 261,893,646.77
Group 2 Six Month Libor Loan Balance 143,708,906.21
Pro-Rata Senior Percent 95.956692%
Group 1 Senior Percent 100.000000%
Group 2 Senior Percent 100.000000%
Group 1 Senior Prepayment Percent 100.000000%
Group 2 Senior Prepayment Percent 100.000000%
GROUP 1 2 TOTAL
Collateral Description Mixed ARM Mixed ARM Mixed ARM
Weighted Average Coupon Rate 2.961434 3.024812 2.979416
Weighted Average Net Rate 2.585375 2.649812 2.603657
Pass-Through Rate 2.575375 2.639812 2.593657
Weighted Average Maturity 324 328 349
Record Date 02/27/2004 02/27/2004 02/27/2004
Principal and Interest Constant 901,926.85 364,913.90 1,266,840.75
Beginning Loan Count 1,071 439 1,510
Loans Paid in Full 10 2 12
Ending Loan Count 1,061 437 1,498
Beginning Scheduled Balance 365,383,934.83 144,733,288.78 510,117,223.61
Ending Scheduled Balance 360,336,275.10 143,708,906.21 504,045,181.31
Scheduled Principal 209.83 88.02 297.85
Unscheduled Principal 5,047,449.90 1,024,294.55 6,071,744.45
Scheduled Interest 901,717.02 364,825.88 1,266,542.90
Servicing Fee 114,505.02 364,825.88 1,266,542.90
Master Servicing Fee 3,044.86 1,206.11 4,250.97
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 784,167.14 318,390.61 1,102,557.75
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