EXHIBIT 10.1

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

                                SMT SERIES 2003-2
                           RECORD DATE: APRIL 30, 2004
                         DISTRIBUTION DATE: MAY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY



                  Certificate                        Beginning
                     Class     Certificate Pass-    Certificate     Interest      Principal
Class    CUSIP    Description     Through Rate        Balance     Distribution  Distribution
- ---------------------------------------------------------------------------------------------
                                                              
 A-1   81743PAP1      SEN          1.43000%       441,122,189.45    525,670.62  15,388,545.48
 A-2   81743PAQ9      SEN          1.62000%       264,114,891.10    356,555.11   6,653,379.26
 M-1   81743PAR7      SUB          1.75000%        11,480,000.00     16,741.67           0.00
 M-2   81743PAS5      SUB          2.53000%         4,920,000.00     10,373.00           0.00
  X    SMT03002X      IO           0.00000%                 0.00    664,282.44           0.00
  R    SMT03002R      SUB          0.00000%                 0.00          0.00           0.00
- ---------------------------------------------------------------------------------------------
Totals                                            721,637,080.55  1,573,622.84  22,041,924.74
- ---------------------------------------------------------------------------------------------


                  Certificate
                     Class        Current     Ending Certificate     Total        Cumulative
Class    CUSIP    Description  Realized Loss        Balance       Distribution   Realized Loss
- ----------------------------------------------------------------------------------------------
                                                               
 A-1   81743PAP1      SEN           0.00        425,733,643.97    15,914,216.10      0.00
 A-2   81743PAQ9      SEN           0.00        257,461,511.84     7,009,934.37      0.00
 M-1   81743PAR7      SUB           0.00         11,480,000.00        16,741.67      0.00
 M-2   81743PAS5      SUB           0.00          4,920,000.00        10,373.00      0.00
  X    SMT03002X      IO            0.00                  0.00       664,282.44      0.00
  R    SMT03002R      SUB           0.00                  0.00             0.00      0.00
- -----------------------------------------------------------------------------------------
Totals                              0.00        699,595,155.81    23,615,547.58      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        500,000,000.00   441,122,189.45        0.00       15,388,545.48        0.00
 A-2        303,600,000.00   264,114,891.10        0.00        6,653,379.26        0.00
 M-1         11,480,000.00    11,480,000.00        0.00                0.00        0.00
 M-2          4,920,000.00     4,920,000.00        0.00                0.00        0.00
  X                   0.00             0.00        0.00                0.00        0.00
  R                   0.00             0.00        0.00                0.00        0.00
- -----------------------------------------------------------------------------------------
Totals      820,000,000.00   721,637,080.55        0.00       22,041,924.74        0.00
- -----------------------------------------------------------------------------------------


                           Total            Ending           Ending           Total
            Realized     Principal        Certificate      Certificate       Principal
Class       Loss (1)     Reduction          Balance        Percentage      Distribution
- ----------------------------------------------------------------------------------------
                                                            
 A-1          0.00      15,388,545.48   426,733,643.97     0.85146729      15,388,545.48
 A-2          0.00       6,653,379.26   257,461,511.84     0.84802870       6,653,379.26
 M-1          0.00               0.00    11,480,000.00     1.00000000               0.00
 M-2          0.00               0.00     4,920,000.00     1.00000000               0.00
  X           0.00               0.00             0.00     0.00000000               0.00
  R           0.00               0.00             0.00     0.00000000               0.00
- ----------------------------------------------------------------------------------------
Totals        0.00      22,041,924.74   699,595,155.81     0.85316482      22,041,924.74
- ----------------------------------------------------------------------------------------


(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
Class           Amount          Balance      Distribution     Distribution   Accretion
- ---------------------------------------------------------------------------------------
                                                              
 A-1        500,000,000.00     882.24437890   0.00000000      30.77709096    0.00000000
 A-2        303,600,000.00     869.94364657   0.00000000      21.91495145    0.00000000
 M-1         11,480,000.00    1000.00000000   0.00000000       0.00000000    0.00000000
 M-2          4,920,000.00    1000.00000000   0.00000000       0.00000000    0.00000000
  X                   0.00       0.00000000   0.00000000       0.00000000    0.00000000
  R                   0.00       0.00000000   0.00000000       0.00000000    0.00000000
- ---------------------------------------------------------------------------------------


                            Total          Ending         Ending         Total
             Realized     Principal      Certificate    Certificate     Principal
Class        Loss (3)     Reduction        Balance      Percentage    Distribution
- -----------------------------------------------------------------------------------
                                                       
 A-1        0.00000000   30.77709096    851.46728794    0.85146729    30.77709096
 A-2        0.00000000   21.91495145    848.02869513    0.84802870    21.91495145
 M-1        0.00000000    0.00000000   1000.00000000    1.00000000     0.00000000
 M-2        0.00000000    0.00000000   1000.00000000    1.00000000     0.00000000
  X         0.00000000    0.00000000      0.00000000    0.00000000     0.00000000
  R         0.00000000    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
                                                 Certificate/     Current       Unpaid      Current
             Original Face        Current          Notional       Accrued      Interest    Interest
Class           Amount       Certificate Rate      Balance        Interest    Shortfall    Shortfall
- ----------------------------------------------------------------------------------------------------
                                                                         
 A-1         500,000,000.00      1.43000%       441,122,189.45   525,670.61      0.00         0.00
 A-2         303,600,000.00      1.62000%       264,114,891.10   356,555.10      0.00         0.00
 M-1          11,480,000.00      1.75000%        11,480,000.00    16,741.67      0.00         0.00
 M-2           4,920,000.00      2.53000%         4,920,000.00    10,373.00      0.00         0.00
  X                    0.00      0.00000%       721,637,080.55         0.00      0.00         0.00
  R                    0.00      0.00000%                 0.00         0.00      0.00         0.00
- --------------------------------------------------------------------------------------------------
Totals       820,000,000.00                                      909,340.38      0.00         0.00
- --------------------------------------------------------------------------------------------------


                Non-                                    Remaining        Ending
             Supported                                   Unpaid       Certificate/
              Interest    Realized     Total Interest   Interest       Notational
Class        Shortfall    Loss (4)      Distribution    Shortfall       Balance
- -----------------------------------------------------------------------------------
                                                      
 A-1            0.00          0.00       525,670.62        0.00      425,733,643.97
 A-2            0.00          0.00       356,555.11        0.00      257,461,511.84
 M-1            0.00          0.00        16,741.67        0.00       11,480,000.00
 M-2            0.00          0.00        10,373.00        0.00        4,920,000.00
  X             0.00          0.00       664,282.44        0.00      701,645,155.81
  R             0.00          0.00             0.00        0.00                0.00
- -----------------------------------------------------------------------------------
Totals          0.00          0.00     1,573,622.84        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
                                  Current         Beginning                          Unpaid        Current
                Original Face   Certificate      Certificate/    Current Accrued     Interest     Interest
Class (5)           Amount         Rate       Notional Balance      Interest         Shortfall    Shortfall
- -----------------------------------------------------------------------------------------------------------
                                                                               
 A-1           500,000,000.00     1.43000%       882.24437890      1.05134122       0.00000000   0.00000000
 A-2           303,600,000.00     1.62000%       869.94364657      1.17442391       0.00000000   0.00000000
 M-1            11,480,000.00     1.75000%      1000.00000000      1.45833362       0.00000000   0.00000000
 M-2             4,920,000.00     2.53000%      1000.00000000      2.10833333       0.00000000   0.00000000
  X                      0.00     0.00000%       880.04522018      0.00000000       0.00000000   0.00000000
  R                      0.00     0.00000%         0.00000000      0.00000000       0.00000000   0.00000000
- -----------------------------------------------------------------------------------------------------------


                   Non-                                   Remaining
                 Supported                                  Unpaid
                 Interest     Realized   Total Interest    Interest    Ending Certificate/
Class (5)        Shortfall    Loss (6)    Distribution     Shortfall    Notational Balance
- ------------------------------------------------------------------------------------------
                                                        
 A-1           0.00000000   0.00000000     1.05134124     0.00000000       851.46728794
 A-2           0.00000000   0.00000000     1.17442395     0.00000000       848.02869513
 M-1           0.00000000   0.00000000     1.45833362     0.00000000      1000.00000000
 M-2           0.00000000   0.00000000     2.10833333     0.00000000      1000.00000000
  X            0.00000000   0.00000000     0.81010054     0.00000000       855.66482416
  R            0.00000000   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                     23,843,884.34
           Liquidations, Insurance Proceeds, Reserve Funds                 0.00
           Proceeds from Repurchased Loans                                 0.00
           Other Amounts (Servicer Advances)                          13,560.62
           Realized Losses                                                 0.00
           Prepayment Penalties                                            0.00
                                                                  -------------
Total Deposits                                                    23,857,444.96

Withdrawals
           Reimbursement for Servicer Advances                        10,628.24
           Payment of Service Fee                                    231,269.15
           Payment of Interest and Principal                      23,615,547.57
                                                                  -------------
Total Withdrawals (Pool Distribution Amount)                      23,857,444.96

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                                          227,047.66
Master Servicing Fee                                           4,221.49
Supported Prepayment/Curtailment Interest Shortfall                0.00
                                                             ----------

Net Servicing Fee                                            231,269.15
                                                             ==========




                      Beginning      Current    Current    Ending
Account Type           Balance     Withdrawals  Deposits   Balance
- ------------          ---------    -----------  --------  ---------
                                              
Reserve Fund          10,000.00        0.00       0.00    10,000.00




             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           1       152,768.00    0-29 Days          0              0.00
30 Days         10         4,424,144.57    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        7         1,211,906.56    180+ Days           0             0.00    180+ Days          1        199,400.00
              -------------------------                    ----------------------                   -----------------------
                17         5,636,051.13                        1       152,768.00                       1        199,400.00

               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       0.050403%     0.021773%   0-29 Days      0.000000%      0.000000%
30 Days       0.504032%        0.630538%   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     0.352823%        0.172723%   180+ Days       0.000000%     0.000000%   180+ Days      0.050403%      0.028419%
              -------------------------                    ----------------------                   -----------------------
              0.856855%        0.803262%                   0.050403%     0.021773%                  0.050403%      0.028419%




                  REO                                        TOTAL
- -----------------------------------------------------------------------------------
               No. of       Principal                       No. of       Principal
               Loans         Balance                        Loans         Balance
                                                        
0-29 Days         0              0.00      0-29 Days          1          152,768.00
30 Days           0              0.00      30 Days           10        4,424,144.57
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          8        1,411,306.56
              -----------------------                      ------------------------
                  0              0.00                        19        5,988,219.13

               No. of       Principal                       No. of       Principal
               Loans         Balance                        Loans         Balance

0-29 Days     0.000000%      0.000000%     0-29 Days       0.050403%       0.021773%
30 Days       0.000000%      0.000000%     30 Days         0.504032%       0.630538%
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       0.403226%       0.201142%
              -----------------------                      ------------------------
              0.000000%      0.000000%                     0.957661%       0.853453%



                                                                                                          
Current Period Class A Insufficient Funds:  0.00  Principal Balance of Contaminated Properties  0.00   Periodic Advance  13,560.62




                           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           7        2,860,612.07    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         3          315,099.78    180+ Days           0             0.00    180+ Days          1        199,400.00
              -------------------------                    ----------------------                   -----------------------
                 10        3,175,711.85                        0             0.00                       1        199,400.00

               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       0.586265%        0.654608%   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     0.251256%        0.072106%   180+ Days       0.000000%     0.000000%   180+ Days      0.083752%      0.045630%
              -------------------------                    ----------------------                   -----------------------
              0.837521%        0.726714%                   0.000000%     0.000000%                  0.083752%      0.045630%


                  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            7        2,860,612.07
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          4          514,499.78
              -------------------------                    ------------------------
                 0                 0.00                      11        3,375,111.85

                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         0.586265%       0.654608%
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       0.335008%       0.117736%
              -------------------------                    ------------------------
              0.000000%        0.000000%                   0.921273%       0.772344%


                                     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          1        152,768.00    0-29 Days          0              0.00
30 Days           3        1,563,532.50    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         4          896,806.78    180+ Days          0              0.00    180+ Days          0              0.00
              -------------------------                    ----------------------                   -----------------------
                  7        2,460,339.28                       1        152,768.00                       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       0.126582%     0.057725%   0-29 Days      0.000000%      0.000000%
30 Days       0.379747%        0.590793%   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     0.506329%        0.338866%   180+ Days       0.000000%     0.000000%   180+ Days      0.000000%      0.000000%
              -------------------------                    ----------------------                   -----------------------
              0.886076%        0.929659%                   0.126582%     0.057725%                  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          1          152,768.00
30 Days           0                0.00    30 Days            3        1,563,532.50
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          4          896,806.78
              -------------------------                    ------------------------
                  0                0.00                       8        2,613,107.28

               No. of         Principal                     No. of       Principal
                Loans          Balance                      Loans         Balance

0-29 Days     0.000000%        0.000000%   0-29 Days       0.126582%       0.057725%
30 Days       0.000000%        0.000000%   30 Days         0.379747%       0.590793%
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       0.506329%       0.338866%
              -------------------------                    ------------------------
              0.000000%        0.000000%                   1.012658%       0.987384%




                              COLLATERAL STATEMENT



         Collateral Description                            Mixed Arm
                                                      
Weighted Average Gross Coupon                                  2.992827%
Weighted Average Net Coupon                                    2.616342%
Weighted Average Pass-Through Rate                             2.609342%
Weighted Average Maturity (Stepdown Calculation)                    320

Beginning Scheduled Collateral Loan Count                         2,020
Number of Loans Paid in Full                                         36
Ending Scheduled Collateral Loan Count                            1,984

Beginning Scheduled Collateral Balance                   723,687,080.55
Ending Scheduled Collateral Balance                      701,645,155.81
Ending Actual Collateral Balance at 30-Apr-2004          701,645,813.95

Monthly P&I Constant                                       1,804,891.96
Special Servicing Fee                                              0.00
Prepayment Penalties                                               0.00
Realized Loss Amount                                               0.00
Cumulative Realized Loss                                           0.00

Ending Scheduled Balance for Premium Loans               701,645,155.81

Scheduled Principal                                                0.00
Unscheduled Principal                                     22,041,924.74

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

Extra Principal Distribution Amount                                0.00
Excess Cash Amount                                           664,282.45




MISCELLANEOUS REPORTING


                                                      
Applied Loss Amount                                                0.00
Group 1 - One-Month LIBOR Loans                          127,518,481.61
Group 1 - Six-Month LIBOR Loans                          309,477,295.76
Group 2 - Six Month LIBOR Loans                          264,649,378.44

M-1 Target Amount                                        689,717,188.16
M-2 Target Amount                                        698,136,930.03
Senior Target Amount                                     670,071,123.80




           GROUP                                 1                      2                       TOTAL
                                                                                   
Collateral Description                          Mixed ARM            6 Month ARM               Mixed ARM
Weighted Average Coupon Rate                     2.959691               3.048080                  2.992827
Weighted Average Net Rate                        2.582778               2.672310                  2.616342
Pass-Through Rate                                2.575778               2.665310                  2.609342
Weighted Average Maturity                             314                    327                       320
Record Date                                    04/30/2004             04/30/2004                04/30/2004
Principal and Interest Constant              1,115,764.76             689,127.20              1,804,891.96
Beginning Loan Count                                1,215                    805                     2,020
Loans Paid in Full                                     21                     15                        36
Ending Loan Count                                   1,194                    790                     1,984
Beginning Scheduled Balance                452,384,322.85         271,302,757.70            723,687,080.55
Ending Scheduled Balance                   436,995,777.37         264,649,378.44            701,645,155.81
Scheduled Principal                                  0.00                   0.00                      0.00
Unscheduled Principal                       15,388,545.48           6,653,379.26             22,041,924.74
Scheduled Interest                           1,115,764.76             689,127.20              1,804,891.96
Servicing Fee                                  142,091.31              84,956.35                227,047.66
Master Servicing Fee                             2,638.90               1,582.59                  4,221.49
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                                   971,034.55             602,588.26              1,573,622.81
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