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 2003-8
RECORD DATE: FEBRUARY 27, 2004
DISTRIBUTION DATE: MARCH 22, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning
Class Certificate Pass- Certificate Interest Principal
Class CUSIP Description Through Rate Balance Distribution Distribution
- --------------------------------------------------------------------------------------------
A-1 81743PDX1 SEN 1.41125% 783,599,976.18 921,546.22 6,100,089.13
X-1 81743PDZ6 IO 0.80000% 0.00 582,723.66 0.00
A-2 81743PDY9 SEN 1.56000% 148,392,418.44 192,910.14 90,662.38
X-2 81743PEA0 IO 0.36946% 0.00 286,946.85 0.00
B-1 81743PED4 SUB 1.68125% 14,166,000.00 19,847.16 0.00
X-B 81743PEB8 IO 0.62953% 0.00 11,787.96 0.00
B-2 81743PEE2 SUB 2.34125% 8,304,000.00 16,201.45 0.00
B-3 81743PEF9 SUB 2.55469% 4,884,000.00 10,397.59 0.00
B-4 81743PEG7 SUB 2.55469% 2,443,000.00 5,200.92 0.00
B-5 81743PEH5 SUB 2.55469% 1,465,000.00 3,118.85 0.00
B-6 81743PEJ1 SUB 2.55469% 3,908,267.00 8,320.34 0.00
A-R 81743PEC6 RES 2.55713% 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------
Totals 967,162,661.62 2,059,001.14 6,190,751.51
- --------------------------------------------------------------------------------------------
Current Ending Certificate Total Cumulative
Class CUSIP Realized Loss Balance Distribution Realized Loss
- --------------------------------------------------------------------------------
A-1 81743PDX1 0.00 777,499,887.05 7,021,635.35 0.00
X-1 81743PDZ6 0.00 0.00 582,723.66 0.00
A-2 81743PDY9 0.00 148,301,756.06 283,572.52 0.00
X-2 81743PEA0 0.00 0.00 286,946.85 0.00
B-1 81743PED4 0.00 14,166,000.00 19,847.16 0.00
X-B 81743PEB8 0.00 0.00 11,787.96 0.00
B-2 81743PEE2 0.00 8,304,000.00 16,201.45 0.00
B-3 81743PEF9 0.00 4,884,000.00 10,397.59 0.00
B-4 81743PEG7 0.00 2,443,000.00 5,200.92 0.00
B-5 81743PEH5 0.00 1,465,000.00 3,118.85 0.00
B-6 81743PEJ1 0.00 3,908,267.00 8,320.34 0.00
A-R 81743PEC6 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
Totals 0.00 960,971,910.11 8,249,752.65 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
Class Amount Balance Distribution Distribution Accretion
- -----------------------------------------------------------------------------
A-1 791,768,000.00 783,599,976.18 0.00 6,100,089.13 0.00
X-1 0.00 0.00 0.00 0.00 0.00
A-2 150,000,000.00 148,392,418.44 0.00 90,662.38 0.00
X-2 0.00 0.00 0.00 0.00 0.00
B-1 14,166,000.00 14,166,000.00 0.00 0.00 0.00
X-B 0.00 0.00 0.00 0.00 0.00
B-2 8,304,000.00 8,304,000.00 0.00 0.00 0.00
B-3 4,884,000.00 4,884,000.00 0.00 0.00 0.00
B-4 2,443,000.00 2,443,000.00 0.00 0.00 0.00
B-5 1,465,000.00 1,465,000.00 0.00 0.00 0.00
B-6 3,908,267.00 3,908,267.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------
Totals 976,938,367.00 967,162,661.62 0.00 6,190,751.51 0.00
- -----------------------------------------------------------------------------
Realized Total Principal Ending Certificate Ending Certificate Total Principal
Class Loss (1) Reduction Balance Percentage Distribution
- -----------------------------------------------------------------------------------------
A-1 0.00 6,100,089.13 777,499,887.05 0.98197943 6,100,089.13
X-1 0.00 0.00 0.00 0.00000000 0.00
A-2 0.00 90,662.38 148,301,756.06 0.98867837 90,662.38
X-2 0.00 0.00 0.00 0.00000000 0.00
B-1 0.00 0.00 14,166,000.00 1.00000000 0.00
X-B 0.00 0.00 0.00 0.00000000 0.00
B-2 0.00 0.00 8,304,000.00 1.00000000 0.00
B-3 0.00 0.00 4,884,000.00 1.00000000 0.00
B-4 0.00 0.00 2,443,000.00 1.00000000 0.00
B-5 0.00 0.00 1,465,000.00 1.00000000 0.00
B-6 0.00 0.00 3,908,267.00 1.00000000 0.00
A-R 0.00 0.00 0.00 0.00000000 0.00
- -----------------------------------------------------------------------------------------
Totals 0.00 6,190,751.51 960,971,910.11 0.98365664 6,190,751.51
- -----------------------------------------------------------------------------------------
(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
Original Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (3)
- ----------------------------------------------------------------------------------------
A-1 791,768,000.00 989.68381670 0.00000000 7.70438958 0.00000000 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-2 150,000,000.00 989.28278960 0.00000000 0.60441587 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 14,166,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 8,304,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 4,884,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 2,443,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 1,465,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 3,908,267.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ----------------------------------------------------------------------------
A-1 7.70438958 981.97942712 0.98197943 7.70438958
X-1 0.00000000 0.00000000 0.00000000 0.00000000
A-2 0.60441587 988.67837373 0.98867837 0.60441587
X-2 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1000.00000000 1.00000000 0.00000000
X-B 0.00000000 0.00000000 0.00000000 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
A-R 0.00000000 0.00000000 0.00000000 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-
Certificate/ Current Unpaid Current Supported
Original Face Current Notional Accrued Interest Interest Interest
Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall
- --------------------------------------------------------------------------------------------------------
A-1 791,768,000.00 1.41125% 783,599,976.18 921,546.22 0.00 0.00 0.00
X-1 0.00 0.80000% 874,085,488.12 582,723.66 0.00 0.00 0.00
A-2 150,000,000.00 1.56000% 148,392,418.44 192,910.14 0.00 0.00 0.00
X-2 0.00 0.36946% 931,992,394.62 286,946.85 0.00 0.00 0.00
B-1 14,166,000.00 1.68125% 14,166,000.00 19,847.16 0.00 0.00 0.00
X-B 0.00 0.62953% 22,470,000.00 11,787.96 0.00 0.00 0.00
B-2 8,304,000.00 2.34125% 8,304,000.00 16,201.45 0.00 0.00 0.00
B-3 4,884,000.00 2.55469% 4,884,000.00 10,397.59 0.00 0.00 0.00
B-4 2,443,000.00 2.55469% 2,443,000.00 5,200.92 0.00 0.00 0.00
B-5 1,465,000.00 2.55469% 1,465,000.00 3,118.85 0.00 0.00 0.00
B-6 3,908,267.00 2.55469% 3,908,267.00 8,320.34 0.00 0.00 0.00
A-R 100.00 2.55713% 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------
Totals 976,938,367.00 2,059,001.14 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------
Remaining Ending
Unpaid Certificate/
Realized Total Interest Interest Notational
Class Loss (4) Distribution Shortfall Balance
- ------------------------------------------------------------
A-1 0.00 921,546.22 0.00 777,499,887.05
X-1 0.00 582,723.66 0.00 842,023,435.12
A-2 0.00 192,910.14 0.00 148,301,756.06
X-2 0.00 286,946.85 0.00 925,801,643.11
B-1 0.00 19,847.16 0.00 14,166,000.00
X-B 0.00 11,787.96 0.00 22,470,000.00
B-2 0.00 16,201.45 0.00 8,304,000.00
B-3 0.00 10,397.59 0.00 4,884,000.00
B-4 0.00 5,200.92 0.00 2,443,000.00
B-5 0.00 3,118.85 0.00 1,465,000.00
B-6 0.00 8,320.34 0.00 3,908,267.00
A-R 0.00 0.00 0.00 0.00
- ------------------------------------------------------------
Totals 0.00 2,059,001.14 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-1 791,768,000.00 1.41125% 989.68381670 1.16390940 0.00000000 0.00000000 0.00000000
X-1 0.00 0.80000% 928.13249985 0.61875500 0.00000000 0.00000000 0.00000000
A-2 150,000,000.00 1.56000% 989.28278960 1.28606760 0.00000000 0.00000000 0.00000000
X-2 0.00 0.36946% 989.61994315 0.30468953 0.00000000 0.00000000 0.00000000
B-1 14,166,000.00 1.68125% 1000.00000000 1.40104193 0.00000000 0.00000000 0.00000000
X-B 0.00 0.62953% 1000.00000000 0.52460881 0.00000000 0.00000000 0.00000000
B-2 8,304,000.00 2.34125% 1000.00000000 1.95104167 0.00000000 0.00000000 0.00000000
B-3 4,884,000.00 2.55469% 1000.00000000 2.12890868 0.00000000 0.00000000 0.00000000
B-4 2,443,000.00 2.55469% 1000.00000000 2.12890708 0.00000000 0.00000000 0.00000000
B-5 1,465,000.00 2.55469% 1000.00000000 2.12890785 0.00000000 0.00000000 0.00000000
B-6 3,908,267.00 2.55469% 1000.00000000 2.12890777 0.00000000 0.00000000 0.00000000
A-R 100.00 2.55713% 0.00000000 0.00000000 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 1.16390940 0.00000000 981.97942712
X-1 0.00000000 0.61875500 0.00000000 894.08796553
A-2 0.00000000 1.28606760 0.00000000 988.67837373
X-2 0.00000000 0.30468953 0.00000000 983.04640114
B-1 0.00000000 1.40104193 0.00000000 1000.00000000
X-B 0.00000000 0.52460881 0.00000000 1000.00000000
B-2 0.00000000 1.95104167 0.00000000 1000.00000000
B-3 0.00000000 2.12890868 0.00000000 1000.00000000
B-4 0.00000000 2.12890708 0.00000000 1000.00000000
B-5 0.00000000 2.12890785 0.00000000 1000.00000000
B-6 0.00000000 2.12890777 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000
(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 8,555,213.60
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 9,926.97
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
------------
Total Deposits 8,565,140.57
Withdrawals
Reimbursement for Servicer Advances 6,596.68
Payment of Service Fee 308,791.24
Payment of Interest and Principal 8,249,752.65
------------
Total Withdrawals (Pool Distribution Amount) 8,565,140.57
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 304,358.41
Master Servicing Fee 4,432.83
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 308,791.24
==========
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
------------ --------- ----------- -------- -------
Class 1-A Companion Sub Account 4,000.00 0.00 0.00 4,000.00
Class 1-A NAS Sub Account 1,000.00 0.00 0.00 1,000.00
Class 2-A Companion Sub Account 2,000.00 0.00 0.00 2,000.00
Class 2-A NAS Sub Account 500.00 0.00 0.00 500.00
Class X-B Sub Account 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 13 3,975,041.11 30 Days 0 0.00 30 Days 0 0.00
60 Days 2 692,000.00 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
-- ------------ -- ---- -- ----
15 4,667,041.11 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 0.467458% 0.413647% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.071917% 0.072010% 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%
-------- -------- -------- -------- -------- --------
0.539374% 0.485658% 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 13 3,975,041.11
60 Days 0 0.00 60 Days 2 692,000.00
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 15 4,667,041.11
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 0.467458% 0.413647%
60 Days 0.000000% 0.000000% 60 Days 0.071917% 0.072010%
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% 0.539374% 0.485658%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9,926.97
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
PERCENTAGE
Original $ Original% Current $ Current % Current Class % Prepayment %
---------- --------- --------- --------- --------------- ------------
Class A 35,170,267.00 3.60004973% 35,170,267.00 3.65986421% 96.340136% 0.000000%
Class X-1 35,170,267.00 3.60004973% 35,170,267.00 3.65986421% 0.000000% 0.000000%
Class X-2 35,170,267.00 3.60004973% 35,170,267.00 3.65986421% 0.000000% 0.000000%
Class B-1 21,004,267.00 2.15000943% 21,004,267.00 2.18573163% 1.474133% 40.278341%
Class B-2 12,700,267.00 1.30000698% 12,700,267.00 1.32160648% 0.864125% 23.610853%
Class B-3 7,816,267.00 0.80007780% 7,816,267.00 0.81337102% 0.508235% 13.886730%
Class B-4 5,373,267.00 0.55001085% 5,373,267.00 0.55914923% 0.254222% 6.946208%
Class B-5 3,908,267.00 0.40005257% 3,908,267.00 0.40669940% 0.152450% 4.165450%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.406699% 11.112418%
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE
- ------------------------------------- --------------------------------- ---------------------------------
POOL 1 -- 1 MO LIBOR
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%
DELINQUENT BANKRUPTCY FORECLOSURE
- --------------------------------------- --------------------------------- ---------------------------------
POOL 1 -- 6 MO LIBOR
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 10 3,180,041.14 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 592,000.00 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
-- ------------ -- ---- -- ----
11 3,772,041.14 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 0.483559% 0.461639% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.048356% 0.085939% 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%
-------- -------- -------- -------- -------- --------
0.531915% 0.547579% 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 10 3,180,041.14
60 Days 0 0.00 60 Days 1 592,000.00
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 11 3,772,041.14
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 0.483559% 0.461639%
60 Days 0.000000% 0.000000% 60 Days 0.048356% 0.085939%
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% 0.531915% 0.547579%
DELINQUENT BANKRUPTCY FORECLOSURE
- --------------------------------------- --------------------------------- ---------------------------------
POOL 2
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 3 794,999.97 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 100,000.00 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
-- ---------- -- ---- -- ----
4 894,999.97 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 0.634249% 0.516554% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.211416% 0.064975% 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%
-------- -------- -------- -------- -------- --------
0.845666% 0.581530% 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 3 794,999.97
60 Days 0 0.00 60 Days 1 100,000.00
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 4 894,999.97
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 0.634249% 0.516554%
60 Days 0.000000% 0.000000% 60 Days 0.211416% 0.064975%
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% 0.845666% 0.581530%
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 2.937821%
Weighted Average Net Coupon 2.560191%
Weighted Average Pass-Through Rate 2.554691%
Weighted Average Maturity (Stepdown Calculation) 320
Beginning Scheduled Collateral Loan Count 2,792
Number of Loans Paid in Full 11
Ending Scheduled Collateral Loan Count 2,781
Beginning Scheduled Collateral Balance 967,162,662.57
Ending Scheduled Collateral Balance 960,971,911.06
Ending Actual Collateral Balance at 27-Feb-2004 960,973,283.88
Monthly P&I Constant 2,367,792.38
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 8,174,878.38
Ending Scheduled Balance for Premium Loans 960,971,911.06
Scheduled Principal 0.00
Unscheduled Principal 6,190,751.51
GROUP POOL 1 -- 1 MO LIBOR POOL 1 -- 6 MO LIBOR POOL 2 TOTAL
Collateral Description 1 Month LIBOR ARM 6 Month LIBOR ARM 6 Month LIBOR ARM Mixed ARM
Weighted Average Coupon Rate 2.790200 2.965727 2.925560 2.937821
Weighted Average Net Rate 2.399750 2.590047 2.548995 2.560191
Pass-Through Rate 2.394250 2.584547 2.543495 2.554691
Weighted Average Maturity 305 322 321 320
Record Date 02/27/2004 02/27/2004 02/27/2004 02/27/2004
Principal and Interest Constant 275,582.83 1,716,774.68 375,434.87 2,367,792.38
Beginning Loan Count 241 2,078 473 2,792
Loans Paid in Full 1 10 0 11
Ending Loan Count 240 2,068 473 2,781
Beginning Scheduled Balance 118,521,767.85 694,645,815.26 153,995,079.46 967,162,662.57
Ending Scheduled Balance 118,210,341.93 688,857,152.05 153,904,417.08 960,971,911.06
Scheduled Principal 0.00 0.00 0.00 0.00
Unscheduled Principal 311,425.92 5,788,663.21 90,662.38 6,190,751.51
Scheduled Interest 275,582.83 1,716,774.68 375,434.87 2,367,792.38
Servicing Fee 38,564.00 217,470.12 48,324.29 304,358.41
Master Servicing Fee 543.22 3,183.80 705.81 4,432.83
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 236,475.61 1,496,120.76 326,404.77 2,059,001.14
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
MISCELLANEOUS REPORTING
Group Pool 1 -- 1 Mo LIBOR
Interest Transfer Amount 0.00
Principal Transfer Amount 0.00
Prorata Senior Percent 96.363897%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%
Group Pool 1 -- 6Mo LIBOR
Interest Transfer Amount 0.00
Principal Transfer Amount 0.00
Prorata Senior Percent 96.361792%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%