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: APRIL 30, 2003
DISTRIBUTION DATE: MAY 20, 2003
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
- ----------------------------------------------------------------------------------------------
Certificate Beginning
Class Certificate Pass- Certificate Interest
Class CUSIP Description Through Rate Balance Distribution
- ----------------------------------------------------------------------------------------------
1A 81743PAA4 SEN 1.70938% 792,652,156.02 1,129,119.78
2A 81743PAB2 SEN 1.74000% 188,580,815.69 273,442.18
X-1A 81743PAC0 IO 0.96505% 0.00 145,503.37
X-1B 81743PAD8 IO 1.17154% 0.00 597,217.51
X-2 81743PAE6 IO 1.14816% 0.00 180,434.23
X-B 81743PAF3 IO 0.63486% 0.00 8,414.57
A-R 81743PAG1 R 2.81712% 0.00 0.00
B-1 81743PAH9 SUB 2.20938% 15,905,000.00 29,283.49
B-2 81743PAJ5 SUB 2.84424% 8,210,000.00 19,459.36
B-3 81743PAK2 SUB 2.84424% 5,644,000.00 13,377.42
B-4 SEQ0301B4 SUB 2.84424% 2,565,000.00 6,079.57
B-5 SEQ0301B5 SUB 2.84424% 1,539,000.00 3,647.74
B-6 SEQ0301B6 SUB 2.84424% 4,105,618.00 9,731.14
- ----------------------------------------------------------------------------------------------
Totals 1,019,201,589.71 2,415,710.36
- ----------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
Principal Current Ending Total Cumulative
Class CUSIP Distribution Realized Loss Certificate Balance Distribution Realized Loss
- ----------------------------------------------------------------------------------------------------------------
1A 81743PAA4 8,127,050.00 0.00 784,525,106.02 9,256,169.78 0.00
2A 81743PAB2 1,462,618.95 0.00 187,118,196.74 1,736,061.13 0.00
X-1A 81743PAC0 0.00 0.00 0.00 145,503.37 0.00
X-1B 81743PAD8 0.00 0.00 0.00 597,217.51 0.00
X-2 81743PAE6 0.00 0.00 0.00 180,434.23 0.00
X-B 81743PAF3 0.00 0.00 0.00 8,414.57 0.00
A-R 81743PAG1 0.00 0.00 0.00 0.00 0.00
B-1 81743PAH9 0.00 0.00 15,905,000.00 29,283.49 0.00
B-2 81743PAJ5 0.00 0.00 8,210,000.00 19,459.36 0.00
B-3 81743PAK2 0.00 0.00 5,644,000.00 13,377.42 0.00
B-4 SEQ0301B4 0.00 0.00 2,565,000.00 6,079.57 0.00
B-5 SEQ0301B5 0.00 0.00 1,539,000.00 3,647.74 0.00
B-6 SEQ0301B6 0.00 0.00 4,105,618.00 9,731.14 0.00
- ----------------------------------------------------------------------------------------------------------------
Totals 9,589,668.95 0.00 1,009,611,920.76 12,005,379.31 00.00
- ----------------------------------------------------------------------------------------------------------------
All distributions required by the Pooling a 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
- -----------------------------------------------------------------------------
1A 798,206,000.00 792,652,156.02 0.00 8,127,050.00
2A 190,000,000.00 188,580,815.69 0.00 1,462,618.95
X-1A 0.00 0.00 0.00 0.00
X-1B 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00
X-B 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00
B-1 15,905,000.00 15,905,000.00 0.00 0.00
B-2 8,210,000.00 8,210,000.00 0.00 0.00
B-3 5,644,000.00 5,644,000.00 0.00 0.00
B-4 2,565,000.00 2,565,000.00 0.00 0.00
B-5 1,539,000.00 1,539,000.00 0.00 0.00
B-6 4,105,618.00 4,105,618.00 0.00 0.00
--------------------------------------------------------------------
Totals 1,026,174,718.00 1,019,201,589.71 0.00 9,589,668.95
- -----------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------
Realized Total Principal Ending Certificate Ending Certificate Total Principal
Class Accretion Loss (1) Reduction Balance Percentage Distribution
- ------------------------------------------------------------------------------------------------------------
1A 0.00 0.00 8,127,050.00 784,525,106.02 0.98286045 8,127,050.00
2A 0.00 0.00 1,462,618.95 187,118,196.74 0.98483261 1,462,618.95
X-1A 0.00 0.00 0.00 0.00 0.00000000 0.00
X-1B 0.00 0.00 0.00 0.00 0.00000000 0.00
X-2 0.00 0.00 0.00 0.00 0.00000000 0.00
X-B 0.00 0.00 0.00 0.00 0.00000000 0.00
A-R 0.00 0.00 0.00 0.00 0.00000000 0.00
B-1 0.00 0.00 0.00 15,905,000.00 1.00000000 0.00
B-2 0.00 0.00 0.00 8,210,000.00 1.00000000 0.00
B-3 0.00 0.00 0.00 5,644,000.00 1.00000000 0.00
B-4 0.00 0.00 0.00 2,565,000.00 1.00000000 0.00
B-5 0.00 0.00 0.00 1,539,000.00 1.00000000 0.00
B-6 0.00 0.00 0.00 4,105,618.00 1.00000000 0.00
----------------------------------------------------------------------------------------------------
Totals 0.00 0.00 9,589,668.95 1,009,611,920.76 0.98385967 9,589,668.95
- ------------------------------------------------------------------------------------------------------------
(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 798,206,000.00 993.04209192 0.00000000 10.18164484 0.00000000
2A 190,000,000.00 992.53060889 0.00000000 7.69799447 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
- ----------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
Realized Total Principal Ending Certificate Ending Certificate Total Principal
Class Loss (3) Reduction Balance Percentage Distribution
- --------------------------------------------------------------------------------------------------
1A 0.00000000 10.18164484 982.86044708 0.98286045 10.18164484
2A 0.00000000 7.69799447 984.83261442 0.98483261 7.69799447
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
Certificate/ Current Unpaid
Original Face Current Notional Accrued Interest
Class Amount Certificate Rate Balance Interest Shortfall
- ------------------------------------------------------------------------------------------
1A 798,206,000.00 1.70938% 792,652,156.02 1,129,119.79 0.00
2A 190,000,000.00 1.74000% 188,580,815.69 273,442.18 0.00
X-1A 0.00 0.96505% 180,927,468.34 145,503.37 0.00
X-1B 0.00 1.17154% 611,724,688.67 597,217.51 0.00
X-2 0.00 1.14816% 188,580,815.69 180,434.23 0.00
X-B 0.00 0.63486% 15,905,000.00 8,414.57 0.00
A-R 100.00 2.81712% 0.00 0.00 0.00
B-1 15,905,000.00 2.20938% 15,905,000.00 29,283.49 0.00
B-2 8,210,000.00 2.84424% 8,210,000.00 19,459.36 0.00
B-3 5,644,000.00 2.84424% 5,644,000.00 13,377.42 0.00
B-4 2,565,000.00 2.84424% 2,565,000.00 6,079.57 0.00
B-5 1,539,000.00 2.84424% 1,539,000.00 3,647.74 0.00
B-6 4,105,618.00 2.84424% 4,105,618.00 9,731.14 0.00
- ------------------------------------------------------------------------------------------
Totals 1,026,174,718.00 2,415,710.37 0.00
- ------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------
Remaining Ending
Current Non-Supported Unpaid Certificate/
Interest Interest Realized Total Interest Interest Notational
Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance
- -------------------------------------------------------------------------------------------
1A 0.00 0.00 0.00 1,129,119.78 0.00 784,525,106.02
2A 0.00 0.00 0.00 273,442.18 0.00 187,118,196.74
X-1A 0.00 0.00 0.00 145,503.37 0.00 179,416,941.90
X-1B 0.00 0.00 0.00 597,217.51 0.00 605,108,165.11
X-2 0.00 0.00 0.00 180,434.23 0.00 187,118,196.74
X-B 0.00 0.00 0.00 8,414.57 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 29,283.49 0.00 15,905,000.00
B-2 0.00 0.00 0.00 19,459.36 0.00 8,210,000.00
B-3 0.00 0.00 0.00 13,377.42 0.00 5,644,000.00
B-4 0.00 0.00 0.00 6,079.57 0.00 2,565,000.00
B-5 0.00 0.00 0.00 3,647.74 0.00 1,539,000.00
B-6 0.00 0.00 0.00 9,731.14 0.00 4,105,618.00
- -------------------------------------------------------------------------------------------
Totals 0.00 0.00 0.00 2,415,710.36 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
Original Face Certificate Certificate/ Current Accrued Interest
Class (5) Amount Rate Notional Balance Interest Shortfall
- ----------------------------------------------------------------------------------------------
1A 798,206,000.00 1.70938% 993.04209192 1.41457192 0.00000000
2A 190,000,000.00 1.74000% 992.53060889 1.43916937 0.00000000
X-1A 0.00 0.96505% 987.71317881 0.79432713 0.00000000
X-1B 0.00 1.17154% 994.62924184 0.97104140 0.00000000
X-2 0.00 1.14816% 992.53060889 0.94965384 0.00000000
X-B 0.00 0.63486% 1000.00000000 0.52905187 0.00000000
A-R 100.00 2.81712% 0.00000000 0.00000000 0.00000000
B-1 15,905,000.00 2.20938% 1000.00000000 1.84114995 0.00000000
B-2 8,210,000.00 2.84424% 1000.00000000 2.37020219 0.00000000
B-3 5,644,000.00 2.84424% 1000.00000000 2.37020198 0.00000000
B-4 2,565,000.00 2.84424% 1000.00000000 2.37020273 0.00000000
B-5 1,539,000.00 2.84424% 1000.00000000 2.37020143 0.00000000
B-6 4,105,618.00 2.84424% 1000.00000000 2.37020103 0.00000000
- ----------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------
Remaining
Current Non-Supported Unpaid
Interest Interest Realized Total Interest Interest Ending Certificate/
Class (5) Shortfall Shortfall Loss (6) Distribution Shortfall Notational Balance
- -------------------------------------------------------------------------------------------------------------
1A 0.00000000 0.00000000 0.00000000 1.41457190 0.00000000 982.86044708
2A 0.00000000 0.00000000 0.00000000 1.43916937 0.00000000 984.83261442
X-1A 0.00000000 0.00000000 0.00000000 0.79432713 0.00000000 979.46696343
X-1B 0.00000000 0.00000000 0.00000000 0.97104140 0.00000000 983.87115420
X-2 0.00000000 0.00000000 0.00000000 0.94965384 0.00000000 984.83261442
X-B 0.00000000 0.00000000 0.00000000 0.52905187 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 1.84114995 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 0.00000000 2.37020219 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 0.00000000 2.37020198 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 0.00000000 2.37020273 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 0.00000000 2.37020143 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 0.00000000 2.37020103 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 12,334,720.10
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 12,334,720.10
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 329,340.79
Payment of Interest and Principal 12,005,379.31
-------------
Total Withdrawals (Pool Distribution Amount) 12,334,720.10
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 320,847.45
Master Servicing Fee 8,493.34
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 329,340.79
==========
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 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%
- -------------------------------------------------------------------------
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Original $ Original % Current $ Current % Current Class % Prepayment %
---------------- ----------- ---------------- ------------- --------------- -------------
Class A 1,026,174,618.00 99.99999026% 1,009,611,920.76 100.00000000% 96.239286% 0.000000%
Class 1A 227,968,618.00 22.21538048% 225,086,814.74 22.29438957% 77.705610% 2,066.246146%
Class 2A 37,968,618.00 3.70001495% 37,968.618.00 3.76071411% 18.533675% 492.823301%
Class X-2 37,968,618.00 3.70001495% 37,968,618.00 3.76071411% 0.000000% 0.000000%
Class B-1 22,063,618.00 2.15008396% 22,063,618.00 2.18535633% 1.575358% 41.889858%
Class B-2 13,853,618.00 1.35002527% 13,853,618.00 1.37217259% 0.813184% 21.623120%
Class B-3 8,209,618.00 0.80002146% 8,209,618.00 0.81314591% 0.559027% 14.864908%
Class B-4 5,644,618.00 0.55006403% 5,644,618.00 0.55908789% 0.254058% 6.755579%
Class B-5 4,105,618.00 0.40008957% 4,105,618.00 0.40665308% 0.152435% 4.053347%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.406653% 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 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%
- -------------------------------------------------------------------------
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 3.232002%
Weighted Average Net Coupon 2.854239%
Weighted Average Pass-Through Rate 2.844239%
Weighted Average Maturity (Stepdown Calculation) 324
Beginning Scheduled Collateral Loan Count 2,858
Number of Loans Paid in Full 20
Ending Scheduled Collateral Loan Count 2,838
Beginning Scheduled Collateral Balance 1,019,201,589.71
Ending Scheduled Collateral Balance 1,009,611,920.76
Ending Actual Collateral Balance at 30-Apr-2003 1,009,613,028.17
Monthly P&I Constant 2,745,051.71
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realization Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 11,915,386.03
Ending Scheduled Balance for Premium Loans 1,009,611,920.76
Scheduled Principal 0.00
Unscheduled Principal 9,589,668.95
MISCELLANEOUS REPORTING
Cap Agreement Deposit - 1 month Libor Loan 0
Cap Agreement Deposit - 6 month Libor Loan 0
GROUP 1 2 TOTAL
6 Month
Collateral Description Mixed ARM LIBOR ARM Mixed ARM
Weighted Average Coupon Rate 3.222210 3.273161 3.232002
Weighted Average Net Rate 2.843789 2.898161 2.854239
Pass-Through Rate 2.833789 2.888161 2.844239
Weighted Average Maturity 322 330 324
Record Date 04/30/2003 04/30/2003 04/30/2003
Principal and Interest Constant 2,210,760.45 534,290.72 2,745,051.17
Beginning Loan Count 2,280 578 2,858
Loans Paid in Full 17 3 20
Ending Loan Count 2,263 575 2,838
Beginning Scheduled Balance 823,320,932.02 195,880,657.69 1,019,201,589.71
Ending Scheduled Balance 815,193,882.02 194,418,038.74 1,009,611,920.76
Scheduled Principal 0.00 0.00 0.00
Unscheduled Principal 8,127,050.00 1,462,618.95 9,589,668.95
Scheduled Interest 2,210,760.45 534,290.72 2,745,051.17
Servicing Fee 259,634.74 61,212.71 320,847.45
Master Servicing Fee 6,861.00 1,632.34 8,493.34
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 1,944,264.71 471,445.67 2,415,710.38
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 186,430,736.33
Six Month Libor Loan Balance 628,763,145.69
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 194,418,038.74
Senior Percent 100.000000%
Senior Prepayment Percent 100.000000%
Subordinate Percent 0.000000%
Subordinate Prepayment Percent 0.000000%