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 2003-1
RECORD DATE: MARCH 31, 2003
DISTRIBUTION DATE: APRIL 21, 2003
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
- ------ --------- ----------- ------------ ---------------- ------------ ------------
1A 81743PAA4 SEN 1.66375% 796,111,023.29 1,103,774.76 3,458,867.27
2A 81743PAB2 SEN 1.74000% 189,318,057.63 274,511.18 737,241.94
X-1A 81743PAC0 IO 1.02821% 0.00 155,687.27 0.00
X-1B 81743PAD8 IO 1.23036% 0.00 629,958.72 0.00
X-2 81743PAE6 IO 1.17022% 0.00 184,620.34 0.00
X-B 81743PAF3 IO 0.69619% 0.00 9,227.46 0.00
A-R 81743PAG1 R 2.82006% 0.00 0.00 0.00
B-1 81743PAH9 SUB 2.16375% 15,905,000.00 28,678.70 0.00
B-2 81743PAJ5 SUB 2.85994% 8,210,000.00 19,566.78 0.00
B-3 81743PAK2 SUB 2.85994% 5,644,000.00 13,451.27 0.00
B-4 SEQ0301B4 SUB 2.85994% 2,565,000.00 6,113.13 0.00
B-5 SEQ0301B5 SUB 2.85994% 1,539,000.00 3,667.88 0.00
B-6 SEQ0301B6 SUB 2.85994% 4,105,618.00 9,784.86 0.00
---------------- ------------ ------------
Totals 1,023,397,698.92 2,439,042.35 4,196,109.21
Current Ending Cumulative
Realized Certificate Total Realized
Class CUSIP Loss Balance Distribution Loss
- ------ --------- -------- ---------------- ------------ ----------
1A 81743PAA4 0.00 792,652,156.02 4,562,642.03 0.00
2A 81743PAB2 0.00 188,580,815.69 1,011,753.12 0.00
X-1A 81743PAC0 0.00 0.00 155,687.27 0.00
X-1B 81743PAD8 0.00 0.00 629,958.72 0.00
X-2 81743PAE6 0.00 0.00 184,620.34 0.00
X-B 81743PAF3 0.00 0.00 9,227.46 0.00
A-R 81743PAG1 0.00 0.00 0.00 0.00
B-1 81743PAH9 0.00 15,905,000.00 28,678.70 0.00
B-2 81743PAJ5 0.00 8,210,000.00 19,566.78 0.00
B-3 81743PAK2 0.00 5,644,000.00 13,451.27 0.00
B-4 SEQ0301B4 0.00 2,565,000.00 6,113.13 0.00
B-5 SEQ0301B5 0.00 1,539,000.00 3,667.88 0.00
B-6 SEQ0301B6 0.00 4,105,618.00 9,784.86 0.00
-------- ---------------- ------------ ----------
Totals 0.00 1,019,201,589.71 6,635,151.56 00.00
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
- ------ ---------------- ---------------- ------------ ------------ ----------
1A 798,206,000.00 796,111,023.29 0.00 3,458,867.27 0.00
2A 190,000,000.00 189,318,057.63 0.00 737,241.94 0.00
X-1A 0.00 0.00 0.00 0.00 0.00
X-1B 0.00 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00 0.00
X-B 0.00 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00
B-1 15,905,000.00 15,905,000.00 0.00 0.00 0.00
B-2 8,210,000.00 8,210,000.00 0.00 0.00 0.00
B-3 5,644,000.00 5,644,000.00 0.00 0.00 0.00
B-4 2,565,000.00 2,565,000.00 0.00 0.00 0.00
B-5 1,539,000.00 1,539,000.00 0.00 0.00 0.00
B-6 4,105,618.00 4,105,618.00 0.00 0.00 0.00
---------------- ---------------- ------------ ------------ ----------
Totals 1,026,174,718.00 1,023,397,698.92 0.00 4,196,109.21 0.00
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (1) Reduction Balance Percentage Distribution
- ------ ---------- ------------ ---------------- ----------- ------------
1A 0.00 3,458,867.27 792,652,156.02 0.99304209 3,458,867.27
2A 0.00 737,241.94 188,580,815.69 0.99253061 737,241.94
X-1A 0.00 0.00 0.00 0.00000000 0.00
X-1B 0.00 0.00 0.00 0.00000000 0.00
X-2 0.00 0.00 0.00 0.00000000 0.00
X-B 0.00 0.00 0.00 0.00000000 0.00
A-R 0.00 0.00 0.00 0.00000000 0.00
B-1 0.00 0.00 15,905,000.00 1.00000000 0.00
B-2 0.00 0.00 8,210,000.00 1.00000000 0.00
B-3 0.00 0.00 5,644,000.00 1.00000000 0.00
B-4 0.00 0.00 2,565,000.00 1.00000000 0.00
B-5 0.00 0.00 1,539,000.00 1.00000000 0.00
B-6 0.00 0.00 4,105,618.00 1.00000000 0.00
---------- ------------ ---------------- ----------- ------------
Totals 0.00 4,196,109.21 1,019,201,589.71 0.99320474 4,196,109.21
(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
- ------ ---------------- ---------------- ------------ ------------ ----------
1A 798,206,000.00 997.37539343 0.00000000 4.33330152 0.00000000
2A 190,000,000.00 996.41082963 0.00000000 3.88022074 0.00000000
X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 15,905,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 8,210,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-3 5,644,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-4 2,565,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-5 1,539,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-6 4,105,618.00 1000.00000000 0.00000000 0.00000000 0.00000000
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
- ------ ---------- ------------ ---------------- ----------- ------------
1A 0.00000000 4.33330152 993.04209192 0.99304209 4.33330152
2A 0.00000000 3.88022074 992.53060889 0.99253061 3.88022074
X-1A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-6 0.00000000 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
Current Certificate/ Current Unpaid
Original Face Certificate Notional Accrued Interest
Class Amount Rate Balance Interest Shortfall
- ------ ---------------- ----------- -------------- ------------ ----------
1A 798,206,000.00 1.66375% 796,111,023.29 1,103,774.76 0.00
2A 190,000,000.00 1.74000% 189,318,057.63 274,511.18 0.00
X-1A 0.00 1.02821% 181,698,572.12 155,687.27 0.00
X-1B 0.00 1.23036% 614,412,452.16 629,958.73 0.00
X-2 0.00 1.17022% 189,318,057.63 184,620.34 0.00
X-B 0.00 0.69619% 15,905,000.00 9,227.46 0.00
A-R 100.00 2.82006% 0.00 0.00 0.00
B-1 15,905,000.00 2.16375% 15,905,000.00 28,678.70 0.00
B-2 8,210,000.00 2.85994% 8,210,000.00 19,566.78 0.00
B-3 5,644,000.00 2.85994% 5,644,000.00 13,451.27 0.00
B-4 2,565,000.00 2.85994% 2,565,000.00 6,113.13 0.00
B-5 1,539,000.00 2.85994% 1,539,000.00 3,667.88 0.00
B-6 4,105,618.00 2.85994% 4,105,618.00 9,784.86 0.00
---------------- ------------ ----
Totals 1,026,174,718.00 2,439,042.36 0.00
Non- Remaining Ending
Current Supported Total Unpaid Certificate/
Interest Interest Realized Interest Interest Notational
Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance
- ------ ---------- ---------- ---------- ------------ ---------- --------------
1A 0.00 0.00 0.00 1,103,774.76 0.00 792,652,156.02
2A 0.00 0.00 0.00 274,511.18 0.00 188,580,815.69
X-1A 0.00 0.00 0.00 155,687.27 0.00 180,927,468.34
X-1B 0.00 0.00 0.00 629,958.72 0.00 611,724,688.67
X-2 0.00 0.00 0.00 184,620.34 0.00 188,580,815.69
X-B 0.00 0.00 0.00 9,227.46 0.00 15,905,000.00
A-R 0.00 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 28,678.70 0.00 15,905,000.00
B-2 0.00 0.00 0.00 19,566.78 0.00 8,210,000.00
B-3 0.00 0.00 0.00 13,451.27 0.00 5,644,000.00
B-4 0.00 0.00 0.00 6,113.13 0.00 2,565,000.00
B-5 0.00 0.00 0.00 3,667.88 0.00 1,539,000.00
B-6 0.00 0.00 0.00 9,784.86 0.00 4,105,618.00
---- ---- ---- ------------ ----
Totals 0.00 0.00 0.00 2,439,042.35 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
Beginning Payment of
Current Certificate/ Current Unpaid
Class Original Face Certificate Notional Accrued Interest
(5) Amount Rate Balance Interest Shortfall
- ------ ---------------- ----------- -------------- ------------ ----------
1A 798,206,000.00 1.66375% 997.37539343 1.38281942 0.00000000
2A 190,000,000.00 1.74000% 996.41082963 1.44479568 0.00000000
X-1A 0.00 1.02821% 991.92276275 0.84992273 0.00000000
X-1B 0.00 1.23036% 998.99939104 1.02427675 0.00000000
X-2 0.00 1.17022% 996.41082963 0.97168600 0.00000000
X-B 0.00 0.69619% 1000.00000000 0.58016096 0.00000000
A-R 100.00 2.82006% 0.00000000 0.00000000 0.00000000
B-1 15,905,000.00 2.16375% 1000.00000000 1.80312480 0.00000000
B-2 8,210,000.00 2.85994% 1000.00000000 2.38328624 0.00000000
B-3 5,644,000.00 2.85994% 1000.00000000 2.38328668 0.00000000
B-4 2,565,000.00 2.85994% 1000.00000000 2.38328655 0.00000000
B-5 1,539,000.00 2.85994% 1000.00000000 2.38328785 0.00000000
B-6 4,105,618.00 2.85994% 1000.00000000 2.38328554 0.00000000
Non- Remaining Ending
Current Supported Total Unpaid Certificate/
Class Interest Interest Realized Interest Interest Notational
(5) Shortfall Shortfall Loss (6) Distribution Shortfall Balance
- ------ ---------- ---------- ---------- ------------ ---------- --------------
1A 0.00000000 0.00000000 0.00000000 1.38281942 0.00000000 993.04209192
2A 0.00000000 0.00000000 0.00000000 1.44479568 0.00000000 992.53060889
X-1A 0.00000000 0.00000000 0.00000000 0.84992273 0.00000000 987.71317881
X-1B 0.00000000 0.00000000 0.00000000 1.02427673 0.00000000 994.62924184
X-2 0.00000000 0.00000000 0.00000000 0.97168600 0.00000000 992.53060889
X-B 0.00000000 0.00000000 0.00000000 0.58016096 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.000000000
B-1 0.00000000 0.00000000 0.00000000 1.80312480 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 0.00000000 2.38328624 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 0.00000000 2.38328668 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 0.00000000 2.38328655 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 0.00000000 2.38328785 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 0.00000000 2.38328554 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 6,965,614.30
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 224.58
Realized Losses 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 6,965,838.88
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 330,687.31
Payment of Interest and Principal 6,635,151.57
-------------
Total Withdrawals (Pool Distribution Amount) 6,965,838.88
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 322,159.02
Master Servicing Fee 8,528.29
Supported Prepayment/Curtailment Interest Shortfall 0.00
-------------
Net Servicing Fee 330,687.31
=============
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
------------ --------- ----------- -------- -------
Class X-1 Reserve Fund Sub Account 5,000.00 0.00 0.00 5,000.00
Class X-2 Reserve Fund Sub Account 2,500.00 0.00 0.00 2,500.00
Class X-B Reserve Fund Sub Account 2,500.00 0.00 0.00 2,500.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE
- --------------------------------- --------------------------------- ---------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 1 98,000.00 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
--------------------- --------------------- ---------------------
1 98,000.00 0 0.00 0 0.00
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.034990% 0.009616% 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%
--------------------- --------------------- ---------------------
0.034990% 0.009616% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- --------------------------------- ---------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 1 98,000.00
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--------------------- ---------------------
0 0.00 1 98,000.00
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.034990% 0.009616%
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% 0.034990% 0.009616%
Current Period Class A Insufficient Funds: 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 224.58
Original $ Original% Current $ Current % Current Class % Prepayment %
Class A 1,026,174,618.00 99.99999026% 1,019,201,589.71 100.00000000% 96.274670% 0.000000%
Class 1A 227,968,618.00 22.21538048% 226,549,433.69 22.22812798% 77.771872% 2,087.650796%
Class 2A 37,968,618.00 3.70001495% 37,968,618.00 3.72532955% 18.502798% 496.675480%
Class X-2 37,968,000.00 3.70001495% 37,968,618.00 3.72532955% 0.000000% 0.000000%
Class B-1 22,063,618.00 2.15008396% 22,063,618.00 2.16479431% 1.560535% 41.889858%
Class B-2 13,853,618.00 1.35002527% 13,853,618.00 1.35926181% 0.805532% 21.623120%
Class B-3 8,209,618.00 0.80002146% 8,209,618.00 0.80549502% 0.553767% 14.864908%
Class B-4 5,644,618.00 0.55006403% 5,644,618.00 0.55382743% 0.251668% 6.755579%
Class B-5 4,105,618.00 0.40008957% 4,105,618.00 0.40282688% 0.151001% 4.053347%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.402827% 10.813188%
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
POOL 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 1 98,000.00 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
--------------------- --------------------- ---------------------
1 98,000.00 0 0.00 0 0.00
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.043860% 0.011903% 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%
--------------------- --------------------- ---------------------
0.043860% 0.011903% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- --------------------------------- ---------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 1 98,000.00
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--------------------- ---------------------
0 0.00 1 98,000.00
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.043860% 0.011903%
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% 0.043860% 0.011903%
POOL 2
DELINQUENT BANKRUPTCY FORECLOSURE
- --------------------------------- --------------------------------- ---------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
--------------------- --------------------- ---------------------
0 0.00 0 0.00 0 0.00
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------------------- --------------------- ---------------------
0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- --------------------------------- ---------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--------------------- ---------------------
0 0.00 0 0.00
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------------------- ---------------------
0.000000% 0.000000% 0.000000% 0.000000%
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 3.247687%
Weighted Average Net Coupon 2.805006%
Weighted Average Pass-Through Rate 2.859935%
Weighted Average Maturity (Stepdown Calculation) 325
Beginning Scheduled Collateral Loan Count 2,354
Number of Loans Paid in Full (504)
Ending Scheduled Collateral Loan Count 2,858
Beginning Scheduled Collateral Balance 873,293,423.01
Ending Scheduled Collateral Balance 1,019,201,589.71
Ending Actual Collateral Balance at 31-Mar-2003 1,019,183,554.16
Monthly P&I Constant 2,750,459.43
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realization Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 6,544,661.49
Ending Scheduled Balance for Premium Loans 1,019,201,589.71
Scheduled Principal 0.00
Unscheduled Principal 4,196,109.21
Pool 1 Prefunding Balance 0.00
Pool 2 Prefunding Balance 0.00
Remaining Capitalized Interest Account Balance 0.00
MISCELLANEOUS REPORTING
Cap Agreement Deposit - 1 month Libor Loan 0
Cap Agreement Deposit - 6 month Libor Loan 0
GROUP 1 2 TOTAL
Collateral Description 6 Month
Mixed ARM LIBOR ARM Mixed ARM
Weighted Average Coupon Rate 3.236383 3.295223 3.247687
Weighted Average Net Rate 2.800448 2.821428 2.805006
Pass-Through Rate 2.847976 2.910223 2.859935
Weighted Average Maturity 323 331 325
Record Date 03/31/2003 03/31/2003 03/31/2003
Principal and Interest Constant 2,215,498.35 534,961.08 2,740,459.43
Beginning Loan Count 1,925 429 2,354
Loans Paid in Full (355) (149) (504)
Ending Loan Count 2,280 578 2,858
Beginning Scheduled Balance 717,674,033.65 155,619,389.36 873,293,423.01
Ending Scheduled Balance 823,320,932.02 195,880,657.69 1,019,201,589.71
Scheduled Principal 0.00 0.00 0.00
Unscheduled Principal 3,458,867.27 737,241.94 4,196,109.21
Scheduled Interest 2,229,813.20 539,916.51 2,769,729.71
Servicing Fee 260,715.99 61,443.03 322,159.02
Master Servicing Fee 6,889.82 1,638.47 8,528.29
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 1,962,207.39 476,835.01 2,439,042.40
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
MISCELLANEOUS REPORTING
Group Pool 1
One Month Libor Loan Balance 187,927,794.74
Six Month Libor Loan Balance 635,393,137.28
Senior Percent 100.000000%
Senior Prepayment Percent 100.000000%
Subordinate Percent 0.000000%
Subordinate Prepayment Percent 0.000000%
Group Pool 2
Six Month Libor Loan Balance 195,880,657.69
Senior Percent 100.000000%
Senior Prepayment Percent 100.000000%
Subordinate Percent 0.000000%
Subordinate Prepayment Percent 0.000000%