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 2003-5
RECORD DATE: APRIL 30, 2004
DISTRIBUTION DATE: MAY 20, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Beginning
Certificate Class Certificate Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
- ------------------------------------------------------------------------------------------------------------------
A-1 81743PCJ3 SEN 1.41000% 609,020,954.48 715,599.62 13,060,014.60
A-2 81743PCK0 SEN 1.50000% 136,902,901.74 171,128.63 4,361,606.89
X-1A 81743PCL8 IO 1.07201% 0.00 74,036.88 0.00
X-1B 81743PCM6 IO 1.35933% 0.00 596,001.55 0.00
X-2 81743PCN4 IO 1.26248% 0.00 144,031.15 0.00
X-B 81743PCP9 IO 1.03608% 0.00 12,988.07 0.00
A-R 81743PCQ7 R 2.69726% 0.00 0.00 0.00
B-1 81743PCR5 SUB 1.70000% 15,043,000.00 21,310.92 0.00
B-2 81743PCS3 SUB 2.73608% 6,447,000.00 14,699.57 0.00
B-3 81743PCT1 SUB 2.73608% 6,017,000.00 13,719.14 0.00
B-4 SEQ0305B4 SUB 2.73608% 2,149,000.00 4,899.86 0.00
B-5 SEQ0305B5 SUB 2.73608% 1,289,000.00 2,939.00 0.00
B-6 SEQ0305B6 SUB 2.73608% 3,439,209.40 7,841.61 0.00
- ------------------------------------------------------------------------------------------------------------------
Totals 780,308,065.62 1,779,196.00 17,421,621.49
- ------------------------------------------------------------------------------------------------------------------
Certificate Class Current Ending Certificate Total Cumulative
Class CUSIP Description Realized Loss Balance Distribution Realized Loss
- -----------------------------------------------------------------------------------------------------------------
A-1 81743PCJ3 SEN 0.00 595,960,939.88 13,775,614.22 0.00
A-2 81743PCK0 SEN 0.00 132,541,294.85 4,532,735.52 0.00
X-1A 81743PCL8 IO 0.00 0.00 74,036.88 0.00
X-1B 81743PCM6 IO 0.00 0.00 596,001.55 0.00
X-2 81743PCN4 IO 0.00 0.00 144,031.15 0.00
X-B 81743PCP9 IO 0.00 0.00 12,988.07 0.00
A-R 81743PCQ7 R 0.00 0.00 0.00 0.00
B-1 81743PCR5 SUB 0.00 15,043,000.00 21,310.92 0.00
B-2 81743PCS3 SUB 0.00 6,447,000.00 14,699.57 0.00
B-3 81743PCT1 SUB 0.00 6,017,000.00 13,719.14 0.00
B-4 SEQ0305B4 SUB 0.00 2,149,000.00 4,899.86 0.00
B-5 SEQ0305B5 SUB 0.00 1,289,000.00 2,939.00 0.00
B-6 SEQ0305B6 SUB 0.00 3,439,209.40 7,841.61 0.00
- ------------------------------------------------------------------------------------------------------------
Totals 0.00 762,886,444.13 19,200,817.49 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
Original Beginning Certificate Scheduled Principal Unscheduled Principal Realized
Class Face Amount Balance Distribution Distribution Accretion Loss (1)
- -------------------------------------------------------------------------------------------------------------------------------
A-1 675,596,000.00 609,020,954.48 1,942.76 13,058,071.84 0.00 0.00
A-2 149,609,000.00 136,902,901.74 13.99 4,361,592.90 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 15,043,000.00 15,043,000.00 0.00 0.00 0.00 0.00
B-2 6,447,000.00 6,447,000.00 0.00 0.00 0.00 0.00
B-3 6,017,000.00 6,017,000.00 0.00 0.00 0.00 0.00
B-4 2,149,000.00 2,149,000.00 0.00 0.00 0.00 0.00
B-5 1,289,000.00 1,289,000.00 0.00 0.00 0.00 0.00
B-6 3,439,209.40 3,439,209.40 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
Totals 859,589,309.40 780,308,065.62 1,956.75 17,419,664.74 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ----------------------------------------------------------------------------------------------
A-1 13,060,014.60 595,960,939.88 0.88212621 13,060,014.60
A-2 4,361,606.89 132,541,294.85 0.88591793 4,361,606.89
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 15,043,000.00 1.00000000 0.00
B-2 0.00 6,447,000.00 1.00000000 0.00
B-3 0.00 6,017,000.00 1.00000000 0.00
B-4 0.00 2,149,000.00 1.00000000 0.00
B-5 0.00 1,289,000.00 1.00000000 0.00
B-6 0.00 3,439,209.40 1.00000000 0.00
- ---------------------------------------------------------------------------------------------
Totals 17,421,621.49 762,886,444.13 0.88750108 17,421,621.49
- ---------------------------------------------------------------------------------------------
(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
Original Beginning Certificate Scheduled Principal Unscheduled Principal Realized
Class Face Amount Balance Distribution Distribution Accretion Loss (3)
- -------------------------------------------------------------------------------------------------------------------------------
A-1 675,596,000.00 901.45731248 0.00287562 19.32822551 0.00000000 0.00000000
A-2 149,609,000.00 915.07129745 0.00009351 29.15327888 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 15,043,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 6,447,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 6,017,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 2,149,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 1,289,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 3,439,209.40 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
- --------------------------------------------------------------------------------------------------------------------------------
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ----------------------------------------------------------------------------------------------
A-1 19.33110113 882.12621135 0.88212621 19.33110113
A-2 29.15337239 885.91792506 0.88591793 29.15337239
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.
INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Non-
Certificate/ Current Unpaid Current Supported
Original Face Current Notional Accrued Interest Interest Interest Realized
Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4)
- -----------------------------------------------------------------------------------------------------------------------------------
A-1 675,596,000.00 1.41000% 609,020,954.48 715,599.62 0.00 0.00 0.00 0.00
A-2 149,609,000.00 1.50000% 136,902,901.74 171,128.63 0.00 0.00 0.00 0.00
X-1A 0.00 1.07201% 82,876,652.82 74,036.88 0.00 0.00 0.00 0.00
X-1B 0.00 1.35933% 526,144,301.66 596,001.56 0.00 0.00 0.00 0.00
X-2 0.00 1.26248% 136,902,901.74 144,031.15 0.00 0.00 0.00 0.00
X-B 0.00 1.03608% 15,043,000.00 12,988.07 0.00 0.00 0.00 0.00
A-R 100.00 2.69726% 0.00 0.00 0.00 0.00 0.00 0.00
B-1 15,043,000.00 1.70000% 15,043,000.00 21,310.92 0.00 0.00 0.00 0.00
B-2 6,447,000.00 2.73608% 6,447,000.00 14,699.57 0.00 0.00 0.00 0.00
B-3 6,017,000.00 2.73608% 6,017,000.00 13,719.14 0.00 0.00 0.00 0.00
B-4 2,149,000.00 2.73608% 2,149,000.00 4,899.86 0.00 0.00 0.00 0.00
B-5 1,289,000.00 2.73608% 1,289,000.00 2,939.00 0.00 0.00 0.00 0.00
B-6 3,439,209.40 2.73608% 3,439,209.40 7,841.61 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------------
Totals 859,589,309.40 1,779,196.01 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------------
Remaining Ending
Unpaid Certificate/
Total Interest Interest Notational
Class Distribution Shortfall Balance
- -----------------------------------------------------------
A-1 715,599.62 0.00 595,960,939.88
A-2 171,128.63 0.00 132,541,294.85
X-1A 74,036.88 0.00 81,184,588.78
X-1B 596,001.55 0.00 514,776,351.10
X-2 144,031.15 0.00 132,541,294.85
X-B 12,988.07 0.00 15,043,000.00
A-R 0.00 0.00 0.00
B-1 21,310.92 0.00 15,043,000.00
B-2 14,699.57 0.00 6,447,000.00
B-3 13,719.14 0.00 6,017,000.00
B-4 4,899.86 0.00 2,149,000.00
B-5 2,939.00 0.00 1,289,000.00
B-6 7,841.61 0.00 3,439,209.40
- -----------------------------------------------------------
Totals 1,779,196.00 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 Realized
Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6)
- --------- --------------- ----------- ---------------- ---------------- ---------- ---------- ----------- -----------
A-1 675,596,000.00 1.41000% 901.45731248 1.05921234 0.00000000 0.00000000 (0.0000001) 0.00000000
A-2 149,609,000.00 1.50000% 915.07129745 1.14383914 0.00000000 0.00000000 0.00000000 0.00000000
X-1A 0.00 1.07201% 921.80321954 0.82348203 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00 1.35933% 898.33408193 1.01760774 0.00000000 0.00000000 (0.0000002) 0.00000000
X-2 0.00 1.26248% 915.01729745 0.96271715 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 1.03608% 1000.00000000 0.86339626 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 2.69726% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 15,043,000.00 1.70000% 1000.00000000 1.41666689 0.00000000 0.00000000 0.00000000 0.00000000
B-2 6,447,000.00 2.73608% 1000.00000000 2.28006360 0.00000000 0.00000000 0.00000000 0.00000000
B-3 6,017,000.00 2.73608% 1000.00000000 2.28006315 0.00000000 0.00000000 0.00000000 0.00000000
B-4 2,149,000.00 2.73608% 1000.00000000 2.28006515 0.00000000 0.00000000 0.00000000 0.00000000
B-5 1,289,000.00 2.73608% 1000.00000000 2.28006206 0.00000000 0.00000000 0.00000000 0.00000000
B-6 3,439,209.40 2.73608% 1000.00000000 2.28006181 0.00000000 0.00000000 0.00000000 0.00000000
Remaining
Unpaid
Total Interest Interest Ending Certificate/
Class (5) Distribution Shortfall Notational Balance
- --------- -------------- ------------ -------------------
A-1 1.05921234 0.00000000 882.12621135
A-2 1.14383914 0.00000000 885.91792506
X-1A 0.82348203 0.00000000 902.98308110
X-1B 1.01760772 0.00000000 878.92454466
X-2 0.96271715 0.00000000 885.91792506
X-B 0.86339626 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000
B-1 1.41666689 0.00000000 1000.00000000
B-2 2.28006360 0.00000000 1000.00000000
B-3 2.28006315 0.00000000 1000.00000000
B-4 2.28006515 0.00000000 1000.00000000
B-5 2.28006206 0.00000000 1000.00000000
B-6 2.28006181 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 19,450,285.03
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 12,922.74
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 19,463,207.77
Withdrawals
Reimbursement for Servicer Advances 13,509.27
Payment of Service Fee 248,881.02
Payment of Interest and Principal 19,200,817.48
-------------
Total Withdrawals (Pool Distribution Amount) 19,463,207.77
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 244,004.10
Master Servicing Fee 4,876.92
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 248,881.02
==========
OTHER ACCOUNTS
Account Type Beginning Balance Current Withdrawals Current Deposits Ending Balance
------------ ----------------- ------------------- ---------------- --------------
Class X-1 Reserve Fund 5,000.00 0.00 0.00 5,000.00
Class X-2 Reserve Fund 2,500.00 0.00 0.00 2,500.00
Class X-B Reserve Fund 2,500.00 0.00 0.00 2,500.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE
- -----------------------------------------------------------------------------------------------------------------------------------
No. of No. of No. of
Loans Principal Balance Loans Principal Balance Loans Principal Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 16 5,174,482.52 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 111,668.43 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
---------------------------- ----------------------- -------------------------
17 5,286,150.95 0 0.00 0 0.00
No. of No. of No. of
Loans Principal Balance Loans Principal Balance Loans Principal Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.756859% 0.678275% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.047304% 0.014638% 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%
------------------------------ ---------------------- ----------------------------
0.804163% 0.692912% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- -----------------------------------------------------------------------------------------------------
No. of No. of
Loans Principal Balance Loans Principal Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 16 5,174,482.52
60 Days 0 0.00 60 Days 1 111,668.43
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 17 5,286,150.95
No. of No. of
Loans Principal Balance Loans Principal Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.756859% 0.678275%
60 Days 0.000000% 0.000000% 60 Days 0.047304% 0.014638%
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% 0.804163% 0.692912%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 12,922.74
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
PERCENTAGE
Original $ Original% Current $ Current % Current Class % Prepayment %
---------- --------- --------- --------- --------------- ------------
Class A 34,384,209.40 4.00007411% 34,384,209.40 4.50712025% 95.492880% 0.000000%
Class X-1-A 34,384,209.40 4.00007411% 34,384,209.40 4.50712025% 0.000000% 0.000000%
Class X-1-B 34,384,209.40 4.00007411% 34,384,209.40 4.50712025% 0.000000% 0.000000%
Class X-2 34,384,209.40 4.00007411% 34,384,209.40 4.50712025% 0.000000% 0.000000%
Class B-1 19,341,209.40 2.25005234% 19,341,209.40 2.53526715% 1.971853% 43.749734%
Class B-2 12,894,209.40 1.50004302% 12,894,209.40 1.69018725% 0.845080% 18.749886%
Class B-3 6,877,209.40 0.80005758% 6,877,209.40 0.90147222% 0.788715% 17.499312%
Class B-4 4,728,209.40 0.55005447% 4,728,209.40 0.61977892% 0.281693% 6.249962%
Class B-5 3,439,209.40 0.40009914% 3,439,209.40 0.45081538% 0.168964% 3.748814%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.450815% 10.002293%
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE
- ---------------------------------------------------------------------------------------------------------------------------
ONE-MONTH LIBOR - GROUP 1
No. of No. of No. of
Loans Principal Balance Loans Principal Balance Loans Principal Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 1 143,982.75 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
--------------------------- -------------------------- --------------------------
1 143,982.75 0 0.00 0 0.00
No. of No. of No. of
Loans Principal Balance Loans Principal Balance Loans Principal Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.523560% 0.169353% 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%
----------------------------- ---------------------------- ---------------------------
0.523560% 0.169353% 0.000000% 0.000000% 0.000000% 0.000000%
- --------------------------------------------------------------------------------------------------------------------------
REO TOTAL
- -------------------------------------------------------------------------------------------------------------------
No. of No. of
Loans Principal Balance Loans Principal Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 1 143,982.75
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 1 143,982.75
No. of No. of
Loans Principal Balance Loans Principal Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.523560% 0.169353%
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% 0.523560% 0.169353%
- -------------------------------------------------------------------------------------------------------------------
DELINQUENT BANKRUPTCY FORECLOSURE
- ----------------------------------------------------------------------------------------------------------------------------------
SIX-MONTH LIBOR - GROUP 1
No. of No. of No. of
Loans Principal Balance Loans Principal Balance Loans Principal Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 10 3,726,747.19 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 111,668.43 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 3,838,415.62 0 0.00 0 0.00
No. of No. of No. of
Loans Principal Balance Loans Principal Balance Loans Principal Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.645161% 0.691298% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.064516% 0.020714% 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%
-------------------------------- ----------------------------- --------------------------
0.709677% 0.712013% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
No. of No. of
Loans Principal Balance Loans Principal Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 10 3,726,747.19
60 Days 0 0.00 60 Days 1 111,668.43
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 3,838,415.62
No. of No. of
Loans Principal Balance Loans Principal Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.645161% 0.691298%
60 Days 0.000000% 0.000000% 60 Days 0.064516% 0.020714%
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% 0.709677% 0.712013%
DELINQUENT BANKRUPTCY FORECLOSURE
- ----------------------------------------------------------------------------------------------------------------------------------
SIX-MONTH LIBOR - GROUP 2
No. of No. of No. of
Loans Principal Balance Loans Principal Balance Loans Principal Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 5 1,303,752.58 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
------------------------------ ---------------------------- --------------------------
5 1,303,752.58 0 0.00 0 0.00
No. of Principal Balance No. of Principal Balance No. of Principal Balance
Loans Loans Loans
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 1.340483% 0.939465% 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%
------------------------------ ---------------------------- --------------------------
1.340483% 0.939465% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- ------------------------------------------------------------------------------------------------------------------
No. of No. of
Loans Principal Balance Loans Principal Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 5 1,303,752.58
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 5 1,303,752.58
No. of No. of
Loans Principal Balance Loans Principal Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 1.340483% 0.939465%
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% 1.340483% 0.939465%
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 3.118887%
Weighted Average Net Coupon 2.743644%
Weighted Average Pass-Through Rate 2.736144%
Weighted Average Maturity (Stepdown Calculation) 328
Beginning Scheduled Collateral Loan Count 2,151
Number of Loans Paid in Full 37
Ending Scheduled Collateral Loan Count 2,114
Beginning Scheduled Collateral Balance 780,308,065.62
Ending Scheduled Collateral Balance 762,886,444.13
Ending Actual Collateral Balance at 30-Apr-2004 762,889,116.30
Monthly P&I Constant 2,030,033.77
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 19,122,419.32
Ending Scheduled Balance for Premium Loans 762,886,444.13
Scheduled Principal 1,956.75
Unscheduled Principal 17,419,664.74
MISCELLANEOUS REPORTING
Pro Rata Senior Percent - Group 1 95.582093%
Pro Rata Senior Percent - Group 2 95.644322%
Senior Percent - Group 1 100.000000%
Senior Percent - Group 2 100.000000%
Senior Prepayment Percent - Group 1 100.000000%
Senior Prepayment Percent - Group 2 100.000000%
Subordinate Percent - Group 1 0.000000%
Subordinate Percent - Group 2 0.000000%
Subordinate Prepayment Percent - Group 1 0.000000%
Subordinate Prepayment Percent - Group 2 0.000000%
Principal Transfer Amount - Group 1 0.00
Principal Transfer Amount - Group 2 0.00
Interest Transfer Amount - Group 1 0.00
Interest Transfer Amount - Group 2 0.00
GROUP 1 MO. LIBOR - GR 1 6 MO LIBOR - GR 1 6 MO LIBOR - GR 2 TOTAL
Collateral Description 1 Month LIBOR ARM 6 Month LIBOR ARM 6 Month LIBOR ARM Mixed ARM
Weighted Average Coupon Rate 2.864506 3.152129 3.145143 3.118887
Weighted Average Net Rate 2.489506 2.776826 2.769981 2.743644
Pass-Through Rate 2.482006 2.769326 2.762481 2.736144
Weighted Average Maturity 313 331 328 328
Record Date 04/30/2004 04/30/2004 04/30/2004 04/30/2004
Principal and Interest Constant 206,977.97 1,447,885.19 375,170.61 2,030,033.77
Beginning Loan Count 193 1,575 383 2,151
Loans Paid in Full 2 25 10 37
Ending Loan Count 191 1,550 373 2,114
Beginning Scheduled Balance 86,707,300.43 550,463,254.54 143,137,510.65 780,308,065.62
Ending Scheduled Balance 85,019,259.12 539,091,281.25 138,775,903.76 762,886,444.13
Scheduled Principal 0.00 1,942.76 13.99 1,956.75
Unscheduled Principal 1,688,041.31 11,370,030.53 4,361,592.90 17,419,664.74
Scheduled Interest 206,977.97 1,445,942.43 375,156.62 2,028,077.02
Servicing Fee 27,096.03 172,158.33 44,749.74 244,004.10
Master Servicing Fee 541.92 3,440.39 894.61 4,876.92
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 179,340.02 1,270,343.71 395,512.27 1,779,196.00
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