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: OCTOBER 29, 2004
DISTRIBUTION DATE: NOVEMBER 22, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
- ------ --------- ----------- ------------ -------------- ------------
A-1 81743PDX1 SEN 2.23000% 696,616,045.06 1,294,544.82
X-1 81743PDZ6 IO 0.56876% 0.00 306,705.07
A-2 81743PDY9 SEN 2.21063% 134,682,674.70 248,111.30
X-2 81743PEA0 IO 0.12594% 0.00 87,247.00
B-1 81743PED4 SUB 2.50000% 14,166,000.00 29,512.50
X-B 81743PEB8 IO 0.18640% 0.00 715.63
B-2 81743PEE2 SUB 3.16000% 8,304,000.00 21,867.20
B-3 81743PEF9 SUB 2.79567% 4,884,000.00 11,378.37
B-4 81743PEG7 SUB 2.79567% 2,443,000.00 5,691.52
B-5 81743PEH5 SUB 2.79567% 1,465,000.00 3,413.05
B-6 81743PEJ1 SUB 2.79567% 3,908,267.00 9,105.18
A-R 81743PEC6 RES 2.56137% 0.00 0.00
-------------- ------------
Totals 866,468,986.76 2,018,291.64
-------------- ------------
Ending
Principal Current Certificate Total Cumulative
Class Distribution Realized Loss Balance Distribution Realized Loss
- ------ ------------- ------------- -------------- ------------- -------------
A-1 10,324,261.85 0.00 686,291,783.21 11,618,806.67 0.00
X-1 0.00 0.00 0.00 306,705.07 0.00
A-2 621,440.34 0.00 134,061,234.36 869,551.64 0.00
X-2 0.00 0.00 0.00 87,247.00 0.00
B-1 0.00 0.00 14,166,000.00 29,512.50 0.00
X-B 0.00 0.00 0.00 715.63 0.00
B-2 0.00 0.00 8,304,000.00 21,867.20 0.00
B-3 0.00 0.00 4,884,000.00 11,378.37 0.00
B-4 0.00 0.00 2,443,000.00 5,691.52 0.00
B-5 0.00 0.00 1,465,000.00 3,413.05 0.00
B-6 0.00 0.00 3,908,267.00 9,105.18 0.00
A-R 0.00 0.00 0.00 0.00 0.00
------------- ------------- -------------- ------------- --------
Totals 10,945,702.19 0.00 855,523,284.57 12,963,993.83 0.00
------------- ------------- -------------- ------------- --------
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
- ------ -------------- -------------- ------------ ------------- --------- --------
A-1 791,768,000.00 696,616,045.06 0.00 10,324,261.85 0.00 0.00
X-1 0.00 0.00 0.00 0.00 0.00 0.00
A-2 150,000,000.00 134,682,674.70 0.00 621,440.34 0.00 0.00
X-2 0.00 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 0.00
X-B 0.00 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 0.00
B-3 4,884,000.00 4,884,000.00 0.00 0.00 0.00 0.00
B-4 2,443,000.00 2,443,000.00 0.00 0.00 0.00 0.00
B-5 1,465,000.00 1,465,000.00 0.00 0.00 0.00 0.00
B-6 3,908,267.00 3,908,267.00 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
- ------ -------------- -------------- ------------ ------------- --------- --------
Totals 976,938,367.00 866,468,986.76 0.00 10,945,702.19 0.00 0.00
- ------ -------------- -------------- ------------ ------------- --------- --------
Total Ending Ending
Principal Certificate Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ------ ------------- -------------- ----------- ---------------
A-1 10,324,261.85 686,291,783.21 0.86678394 10,324,261.85
X-1 0.00 0.00 0.00000000 0.00
A-2 621,440.34 134,061,234.36 0.89374156 621,440.34
X-2 0.00 0.00 0.00000000 0.00
B-1 0.00 14,166,000.00 1.00000000 0.00
X-B 0.00 0.00 0.00000000 0.00
B-2 0.00 8,304,000.00 1.00000000 0.00
B-3 0.00 4,884,000.00 1.00000000 0.00
B-4 0.00 2,443,000.00 1.00000000 0.00
B-5 0.00 1,465,000.00 1.00000000 0.00
B-6 0.00 3,908,267.00 1.00000000 0.00
A-R 0.00 0.00 0.00000000 0.00
- ------ ------------- -------------- ----------- ---------------
Totals 10,945,702.19 855,523,284.57 0.87571879 10,945,702.19
- ------ ------------- -------------- ----------- ---------------
(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-1 791,768,000.00 879.82343952 0.00000000 13.03950381 0.00000000 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-2 150,000,000.00 897.88449800 0.00000000 4.14293560 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 Ending Ending
Principal Certificate Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ----- ----------- ------------- ----------- ---------------
A-1 13.03950381 866.78393571 0.86678394 13.03950381
X-1 0.00000000 0.00000000 0.00000000 0.00000000
A-2 4.14293560 893.74156240 0.89374156 4.14293560
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-
Current Certificate/ Current Unpaid Current Supported
Original Face Certificate Notional Accrued Interest Interest Interest Realized
Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4)
- ------ -------------- ----------- -------------- ------------ ---------- --------- --------- --------
A-1 791,768,000.00 2.23000% 696,616,045.06 1,294,544.82 0.00 0.00 0.00 0.00
X-1 0.00 0.56876% 647,108,144.32 306,705.07 0.00 0.00 0.00 0.00
A-2 150,000,000.00 2.21063% 134,682,674.70 248,111.30 0.00 0.00 0.00 0.00
X-2 0.00 0.12594% 831,298,719.76 87,247.00 0.00 0.00 0.00 0.00
B-1 14,166,000.00 2.50000% 14,166,000.00 29,512.50 0.00 0.00 0.00 0.00
X-B 0.00 0.18640% 22,470,000.00 3,490.37 0.00 0.00 0.00 0.00
B-2 8,304,000.00 3.16000% 8,304,000.00 21,867.20 0.00 0.00 0.00 0.00
B-3 4,884,000.00 2.79567% 4,884,000.00 11,378.37 0.00 0.00 0.00 0.00
B-4 2,443,000.00 2.79567% 2,443,000.00 5,691.52 0.00 0.00 0.00 0.00
B-5 1,465,000.00 2.79567% 1,465,000.00 3,413.05 0.00 0.00 0.00 0.00
B-6 3,908,267.00 2.79567% 3,908,267.00 9,105.18 0.00 0.00 0.00 0.00
A-R 100.00 2.56137% 0.00 0.00 0.00 0.00 0.00 0.00
- ------ -------------- ------------ ------- ------- ------- ------
Totals 976,938,367.00 2,021,066.38 0.00 0.00 0.00 0.00
- ------ -------------- ------------ ------- ------- ------- ------
Remaining Ending
Unpaid Certificate/
Total Interest Interest Notational
Class Distribution Shortfall Balance
- ------ -------------- --------- --------------
A-1 1,294,544.82 0.00 686,291,783.21
X-1 306,705.07 0.00 623,049,735.60
A-2 248,111.30 0.00 134,061,234.36
X-2 87,247.00 0.00 820,353,017.57
B-1 29,512.50 0.00 14,166,000.00
X-B 715.63 0.00 22,470,000.00
B-2 21,867.20 0.00 8,304,000.00
B-3 11,378.37 0.00 4,884,000.00
B-4 5,691.52 0.00 2,443,000.00
B-5 3,413.05 0.00 1,465,000.00
B-6 9,105.18 0.00 3,908,267.00
A-R 0.00 0.00 0.00
- ------ ------------- -------
Totals 2,018,291.64 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-1 791,768,000.00 2.23000% 879.82343952 1.63500523 0.00000000 0.00000000 0.00000000 0.00000000
X-1 0.00 0.56876% 687.12054808 0.32566945 0.00000000 0.00000000 0.00000000 0.00000000
A-2 150,000,000.00 2.21063% 897.88449800 1.65407533 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.12594% 882.70011272 0.09264171 0.00000000 0.00000000 0.00000000 0.00000000
B-1 14,166,000.00 2.50000% 1000.00000000 2.08333333 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.18640% 1000.00000000 0.15533467 0.00000000 0.00000000 0.00000000 0.00000000
B-2 8,304,000.00 3.16000% 1000.00000000 2.63333333 0.00000000 0.00000000 0.00000000 0.00000000
B-3 4,884,000.00 2.79567% 1000.00000000 2.32972359 0.00000000 0.00000000 0.00000000 0.00000000
B-4 2,443,000.00 2.79567% 1000.00000000 2.32972575 0.00000000 0.00000000 0.00000000 0.00000000
B-5 1,465,000.00 2.79567% 1000.00000000 2.32972696 0.00000000 0.00000000 0.00000000 0.00000000
B-6 3,908,267.00 2.79567% 1000.00000000 2.32972312 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 2.56317% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Remaining
Unpaid
Total Interest Interest Ending Certificate/
Class (5) Distribution Shortfall Notational Balance
- --------- -------------- ---------- -------------------
A-1 1.63500523 0.00000000 866.78393571
X-1 0.32566945 0.00000000 661.57454447
A-2 1.65407533 0.00000000 893.74156240
X-2 0.09264171 0.00000000 871.07760889
B-1 2.08333333 0.00000000 1000.00000000
X-B 0.03184824 0.00000000 1000.00000000
B-2 2.63333333 0.00000000 1000.00000000
B-3 2.32972359 0.00000000 1000.00000000
B-4 2.32972575 0.00000000 1000.00000000
B-5 2.32972696 0.00000000 1000.00000000
B-6 2.32972312 0.00000000 1000.00000000
A-R 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 13,239,094.92
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 10,606.49
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 13,249,701.41
Withdrawals
Reimbursement for Servicer Advances 9,046.95
Payment of Service Fee 276,660.63
Payment of Interest and Principal 12,963,993.83
-------------
Total Withdrawals (Pool Distribution Amount) 13,249,701.41
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 272,689.31
Master Servicing Fee 3,971.32
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 276,660.63
==========
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 2,246.43 2,521.17 2,774.74 2,500.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 18 4,512,069.92
60 Days 0. 0.00
90 Days 0 0.00
120 Days 0. 0.00
150 Days 1 100,000.00
180+ Days 0 0.00
---- ------------
19 4,612,069.92
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.707269% 0.527404%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.039293% 0.011689%
180+ Days 0.000000% 0.000000%
-------- --------
0.746562% 0.539092%
BANKRUPTCY
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
--- -------
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- ---------
0.000000% 0.000000%
FORECLOSURE
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ------
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
REO
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
` ---- ------
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
TOTAL
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 18 4,512,069.92
60 Days 0. 0.00
90 Days 0 0.00
120 Days 0. 0.00
150 Days 1 100,000.00
180+ Days 0 0.00
--- ------------
19 4,612,069.92
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.707269% 0.527404%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.039293% 0.011689%
180+ Days 0.000000% 0.000000%
-------- --------
0.746562% 0.539092%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 10,606.49
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 4.11096549% 95.889034% 0.000000%
Class X-1 35,170,267.00 3.60004973% 35,170,267.00 4.11096549% 0.000000% 0.000000%
Class X-2 35,170,267.00 3.60004973% 35,170,267.00 4.11096549% 0.000000% 0.000000%
Class B-1 21,004,267.00 2.15000943% 21,004,267.00 2.45513680% 1.655829% 40.278341%
Class B-2 12,700,267.00 1.30000698% 12,700,267.00 1.48450279% 0.970634% 23.610853%
Class B-3 7,816,267.00 0.80007780% 7,816,267.00 0.91362411% 0.570879% 13.886730%
Class B-4 5,373,267.00 0.55001085% 5,373,267.00 0.62806788% 0.285556% 6.946208%
Class B-5 3,908,267.00 0.40005257% 3,908,267.00 0.45682766% 0.171240% 4.165450%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.456828% 11.112418%
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
DELINQUENT
POOL 1 -- 1 MO LIBOR
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 2 932,000.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----------
2 932,000.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.904977% 0.838185%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.904977% 0.838185%
BANKRUPTCY
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
FORECLOSURE
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
--- ----
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
REO
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ------
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
TOTAL
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 2 932,000.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----------
2 932,000.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.904977% 0.838185%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.904977% 0.838185%
DELINQUENT
POOL 1 -- 6 MO LIBOR
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 9 2,031,594.31
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ------------
9 2,031,594.31
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.477707% 0.335985%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.477707% 0.335985%
BANKRUPTCY
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
FORECLOSURE
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
REO
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
TOTAL
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 9 2,031,594.31
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ------------
9 2,031,594.31
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.477707% 0.335985%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.477707% 0.335985%
DELINQUENT
POOL 2
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 7 1,548,475.61
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 1 100,000.00
180+ Days 0 0.00
---- ------------
8 1,648,475.61
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 1.590909% 1.108716%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.227273% 0.071600%
180+ Days 0.000000% 0.000000%
-------- --------
1.818182% 1.180316%
BANKRUPTCY
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
FORECLOSURE
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
REO
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
---- ----
0 0.00
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.000000% 0.000000%
TOTAL
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 7 1,548,475.61
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 1 100,000.00
180+ Days 0 0.00
---- ------------
8 1,648,475.61
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 1.590909% 1.108716%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.227273% 0.071600%
180+ Days 0.000000% 0.000000%
-------- --------
1.818182% 1.180316%
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 3.178702%
Weighted Average Net Coupon 2.801046%
Weighted Average Pass-Through Rate 2.795546%
Weighted Average Maturity (Stepdown Calculation) 312
Beginning Scheduled Collateral Loan Count 2,575
Number of Loans Paid in Full 30
Ending Scheduled Collateral Loan Count 2,545
Beginning Scheduled Collateral Balance 866,468,987.71
Ending Scheduled Collateral Balance 855,523,285.52
Ending Actual Collateral Balance at 29-Oct-2004 855,524,802.60
Monthly P&I Constant 2,295,205.81
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 12,879,353.64
Ending Scheduled Balance for Premium Loans 855,523,285.52
Scheduled Principal 0.00
Unscheduled Principal 10,945,702.19
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 MonthLIBOR ARM Mixed ARM
Weighted Average Coupon Rate 3.294406 3.166817 3.138358 3.178702
Weighted Average Net Rate 2.903062 2.791439 2.761657 2.801046
Pass-Through Rate 2.897562 2.785939 2.756157 2.795546
Weighted Average Maturity 297 314 313 312
Record Date 10/29/2004 10/29/2004 10/29/2004 10/29/2004
Principal and Interest Constant 307,498.25 1,620,819.57 366,887.99 2,295,205.81
Beginning Loan Count 223 1,910 442 2,575
Loans Paid in Full 2 26 2 30
Ending Loan Count 221 1,884 440 2,545
Beginning Scheduled Balance 112,007,404.08 614,176,247.91 140,285,335.72 866,468,987.71
Ending Scheduled Balance 111,192,589.78 604,666,800.36 139,663,895.38 855,523,285.52
Scheduled Principal 0.00 0.00 0.00 0.00
Unscheduled Principal 814,814.30 9,509,447.55 621,440.34 10,945,702.19
Scheduled Interest 307,498.25 1,620,819.57 366,887.99 2,295,205.81
Servicing Fee 36,527.90 192,123.36 44,038.05 272,689.31
Master Servicing Fee 513.37 2,814.98 642.97 3,971.32
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 270,456.98 1,425,881.23 322,206.97 2,018,545.18
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 95.928357%
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 96.006239%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%