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 2002-10
RECORD DATE: MAY 30, 2003
DISTRIBUTION DATE: JUNE 20, 2003
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
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Certificate Certificate
Class Pass-Through Beginning Interest
Class CUSIP Description Rate Certificate Balance Distribution
- --------------------------------------------------------------------------------------------
1A 81743VAA1 SEN 1.71813% 781,249,659.57 1,118,573.73
2A-1 81743VAB9 SEN 1.69813% 181,776,385.30 257,223.28
2A-2 81743VAN3 SEN 1.99813% 3,500,000.00 5,827.88
X-1A 81743VAC7 IO 1.04444% 0.00 324,589.84
X-1B 81743VAD5 IO 1.24707% 0.00 424,331.21
X-2 81743VAP8 IO 1.26544% 0.00 195,379.69
X-B 81743VAE3 IO 0.65934% 0.00 14,134.50
A-R 81743VAF0 SEN 3.37693% 0.00 0.00
B-1 81743VAG8 SUB 2.11813% 12,600,000.00 22,240.36
B-2 81743VAH6 SUB 2.11813% 8,400,000.00 14,826.91
B-3 81743VAJ2 SUB 2.71813% 4,725,000.00 10,702.64
B-4 SMT0210B4 SUB 2.88767% 2,625,000.00 6,316.78
B-5 SMT0210B5 SUB 2.88767% 2,100,000.00 5,053.42
B-6 SMT0210B6 SUB 2.88767% 3,685,162.00 8,867.94
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Totals 1,000,661,206.87 2,408,078.18
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Ending
Principal Current Certificate Total Cumulative
Class Distribution Realized Loss Balance Distribution Realized Loss
- ----------------------------------------------------------------------------------------------
1A 9,120,056.37 0.00 772,129,603.20 10,238,630.10 0.00
2A-1 864,545.41 0.00 180,911,839.89 1,121,778.69 0.00
2A-2 0.00 0.00 3,500,000.00 5,827.88 0.00
X-1A 0.00 0.00 0.00 324,589.84 0.00
X-1B 0.00 0.00 0.00 424,331.21 0.00
X-2 0.00 0.00 0.00 195,379.69 0.00
X-B 0.00 0.00 0.00 14,134.50 0.00
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 12,600,000.00 22,240.36 0.00
B-2 0.00 0.00 8,400,000.00 14,826.91 0.00
B-3 0.00 0.00 4,725,000.00 10,702.64 0.00
B-4 0.00 0.00 2,625,000.00 6,316.78 0.00
B-5 0.00 0.00 2,100,000.00 5,053.42 0.00
B-6 0.00 0.00 3,685,162.00 8,867.94 0.00
- ------------------------------------------------------------------------------------------
Totals 9,984,601.78 0.00 990,676,605.09 12,392,679.96 0.00
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All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
PRINCIPAL DISTRIBUTION STATEMENT
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Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
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1A 822,375,000.00 781,249,659.57 0.00 9,120,056.37 0.00 0.00
2A-1 190,000,000.00 181,776,385.30 0.00 864,545.40 0.00 0.00
2A-2 3,500,000.00 3,500,000.00 0.00 0.00 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 12,600,000.00 12,600,000.00 0.00 0.00 0.00 0.00
B-2 8,400,000.00 8,400,000.00 0.00 0.00 0.00 0.00
B-3 4,725,000.00 4,725,000.00 0.00 0.00 0.00 0.00
B-4 2,625,000.00 2,625,000.00 0.00 0.00 0.00 0.00
B-5 2,100,000.00 2,100,000.00 0.00 0.00 0.00 0.00
B-6 3,685,162.00 3,685,162.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------
Totals 1,050,010,262.00 1,000,661,206.87 0.00 9,984,601.77 0.00 0.00
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- ----------------------------------------------------------------------------------
Total Ending Ending
Principal Certificate Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ----------------------------------------------------------------------------------
1A 9,120,056.37 772,129,603.20 0.93890209 9,120,056.37
2A-1 864,545.41 180,911,839.89 0.95216758 864,545.41
2A-2 0.00 3,500,000.00 1.00000000 0.00
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 12,600,000.00 1.00000000 0.00
B-2 0.00 8,400,000.00 1.00000000 0.00
B-3 0.00 4,725,000.00 1.00000000 0.00
B-4 0.00 2,625,000.00 1.00000000 0.00
B-5 0.00 2,100,000.00 1.00000000 0.00
B-6 0.00 3,685,162.00 1.00000000 0.00
- ---------------------------------------------------------------------------------
Totals 9,984,601.78 990,676,605.09 0.94349231 9,984,601.78
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(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
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Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (3)
- ---------------------------------------------------------------------------------------------------------
1A 822,375,000.00 949.99198610 0.00000000 11.08989983 0.00000000 0.00000000
2A-1 190,000,000.00 956.71781737 0.00000005 4.55023895 0.00000000 0.00000000
2A-2 3,500,000.00 1000.00000000 0.00000000 0.00000000 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 12,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 8,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 4,725,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 2,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 2,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 3,685,162.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
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Ending Ending
Total Principal Certificate Certificate Total Principal
Class Reduction Balance Percentage Distribution
- --------------------------------------------------------------------------------------
1A 11.08989983 938.90208627 0.93890209 11.08989983
2A-1 4.55023900 952.16757837 0.95216758 4.55023900
2A-2 0.00000000 1000.00000000 1.00000000 0.00000000
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
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Beginning Payment of
Current Certificate/ Current Unpaid Current
Original Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
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1A 822,375,000.00 1.71813% 781,249,659.57 1,118,573.73 0.00 0.00
2A-1 190,000,000.00 1.69813% 181,776,385.30 257,233.28 0.00 0.00
2A-2 3,500,000.00 1.99813% 3,500,000.00 5,827.88 0.00 0.00
X-1A 0.00 1.04444% 372,934,288.25 324,589.84 0.00 0.00
X-1B 0.00 1.24707% 408,315,371.32 424,331.21 0.00 0.00
X-2 0.00 1.26544% 185,276,385.30 195,379.69 0.00 0.00
X-B 0.00 0.65934% 25,725,000.00 14,134.50 0.00 0.00
A-R 100.00 3.37693% 0.00 0.00 0.00 0.00
B-1 12,600,000.00 2.11813% 12,600,000.00 22,240.36 0.00 0.00
B-2 8,400,000.00 2.11813% 8,400,000.00 14,826.91 0.00 0.00
B-3 4,725,000.00 2.71813% 4,725,000.00 10,702.64 0.00 0.00
B-4 2,625,000.00 2.88767% 2,625,000.00 6,316.78 0.00 0.00
B-5 2,100,000.00 2.88767% 2,100,000.00 5,053.42 0.00 0.00
B-6 3,685,162.00 2.88767% 3,685,162.00 8,867.94 0.00 0.00
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Totals 1,050,010,262.00 2,408,078.18 0.00 0.00
- --------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Non- Remaining Ending
Supported Unpaid Certificate/
Interest Realized Total Interest Interest Notational
Class Shortfall Loss (4) Distribution Shortfall Balance
- -------------------------------------------------------------------------------
1A 0.00 0.00 1,118,573.73 0.00 772,129,603.20
2A-1 0.00 0.00 257,233.28 0.00 180,911,839.89
2A-2 0.00 0.00 5,827.88 0.00 3,500,000.00
X-1A 0.00 0.00 324,589.84 0.00 366,913,322.78
X-1B 0.00 0.00 424,331.21 0.00 405,216,280.42
X-2 0.00 0.00 195,379.69 0.00 184,411,839.89
X-B 0.00 0.00 14,134.50 0.00 25,725,000.00
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 22,240.36 0.00 12,600,000.00
B-2 0.00 0.00 14,826.91 0.00 8,400,000.00
B-3 0.00 0.00 10,702.64 0.00 4,725,000.00
B-4 0.00 0.00 6,316.78 0.00 2,625,000.00
B-5 0.00 0.00 5,053.42 0.00 2,100,000.00
B-6 0.00 0.00 8,867.94 0.00 3,685,162.00
- --------------------------------------------------------------------------------
Totals 0.00 0.00 2,408,078.18 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
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Beginning Payment of
Current Certificate/ Current Unpaid Current
Original Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
- -------------------------------------------------------------------------------------------------------
1A 822,375,000.00 1.71813% 949.99198610 1.36017477 0.00000000 0.00000000
2A-1 190,000,000.00 1.69813% 956.71781737 1.35385937 0.00000000 0.00000000
2A-2 3,500,000.00 1.99813% 1000.00000000 1.66510857 0.00000000 0.00000000
X-1A 0.00 1.04444% 949.03928659 0.82601284 0.00000000 0.00000000
X-1B 0.00 1.24707% 950.86380575 0.98816067 0.00000000 0.00000000
X-2 0.00 1.26544% 957.50069922 1.00971416 0.00000000 0.00000000
X-B 0.00 0.65934% 1000.00000000 0.54944606 0.00000000 0.00000000
A-R 100.00 3.37693% 0.00000000 0.00000000 0.00000000 0.00000000
B-1 12,600,000.00 2.11813% 1000.00000000 1.76510794 0.00000000 0.00000000
B-2 8,400,000.00 2.11813% 1000.00000000 1.76510833 0.00000000 0.00000000
B-3 4,725,000.00 2.71813% 1000.00000000 2.26510899 0.00000000 0.00000000
B-4 2,625,000.00 2.88767% 1000.00000000 2.40639238 0.00000000 0.00000000
B-5 2,100,000.00 2.88767% 1000.00000000 2.40639048 0.00000000 0.00000000
B-6 3,685,162.00 2.88767% 1000.00000000 2.40639082 0.00000000 0.00000000
- -------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------
Non- Remaining Ending
Supported Unpaid Certificate/
Interest Realized Total Interest Interest Notational
Class (5) Shortfall Loss (6) Distribution Shortfall Balance
- -----------------------------------------------------------------------------------------
1A 0.00000000 0.00000000 1.36017477 0.00000000 938.90208627
2A-1 0.00000000 0.00000000 1.35385937 0.00000000 952.16757837
2A-2 0.00000000 0.00000000 1.66510857 0.00000000 1000.00000000
X-1A 0.00000000 0.00000000 0.82601284 0.00000000 933.71719647
X-1B 0.00000000 0.00000000 0.98816067 0.00000000 943.64680249
X-2 0.00000000 0.00000000 1.00971416 0.00000000 953.03276429
X-B 0.00000000 0.00000000 0.54944606 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 1.76510794 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 1.76510833 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 2.26510899 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 2.40639238 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 2.40639048 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 2.40639082 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 12,605,851.66
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 181.47
Realized Losses 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 12,606,033.13
Withdrawals
Reimbursement for Servicer Advances 4,882.08
Payment of Service Fee 208,471.09
Payment of Interest and Principal 12,392,679.96
-------------
Total Withdrawals (Pool Distribution Amount) 12,606,033.13
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 208,471.09
Supported Prepayment/Curtailment Interest Shortfall 0.00
-------------
Net Servicing Fee 208,471.09
=============
- -------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- ----------------------------------------------------------------------------------------------------------------
Class X-A Basis Risk Reserve Fund 8,000.00 0.00 0.00 8,000.00
Class X-B Basis Risk Reserve Fund 2,000.00 0.00 0.00 2,000.00
- ----------------------------------------------------------------------------------------------------------------
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
- -----------------------------------------------------------------------------------------------------------------------------
DELINQUENT BANKRUPTCY FORECLOSURE
- -----------------------------------------------------------------------------------------------------------------------------
No. of Principal Balance No. of Principal No. of Principal
Loans 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 75,745.89 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 75,745.89 0 0.00 0 0.00
No. of Principal Balance No. of Principal No. of Principal
Loans 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 0.037665% 0.007646% 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%
-------------------------- ------------------------- -----------------------
0.037665% 0.007646% 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 75,745.89
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 75,745.89
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 0.037665% 0.007646%
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% 0.037665% 0.007646%
- --------------------------------------------------------------------------------------------
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 181.47
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment
Percentage
- --------------------------------------------------------------------------------------------------------------
Original $ Original % Current $ Current % Current Class % Prepayment %
---------------- ------------ -------------- ------------- --------------- -------------
Class A 1,050,010,162.00 99.99999048% 990,676,605.09 100.00000000% 96.554359% 0.000000%
Class 1A 227,635,162.00 21.67932736% 218,547,001.89 22.06037780% 77.939622% 2,261.977263%
Class 2-A-1 37,635,162.00 3.58426611% 37,635,162.00 3.79893517% 18.261443% 529.986762%
Class 2-A-2 34,135,162.00 3.25093604% 34,135,162.00 3.44564127% 0.353294% 10.253357%
Class X-2 34,135,162.00 3.25093604% 34,135,162.00 3.44564127% 0.000000% 0.000000%
Class B-1 21,535,162.00 2.05094776% 21,535,162.00 2.17378324% 1.271858% 36.912085%
Class B-2 13,135,162.00 1.25095558% 13,135,162.00 1.32587788% 0.847905% 24.608057%
Class B-3 8,410,162.00 0.80095998% 8,410,162.00 0.84893112% 0.476947% 13.842032%
Class B-4 5,785,162.00 0.55096242% 5,785,162.00 0.58396070% 0.264970% 7.690018%
Class B-5 3,685,162.00 0.35096438% 3,685,162.00 0.37198436% 0.211976% 6.152014%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.371984% 10.795795%
- -------------------------------------------------------------------------------------------------------------
Please refer to the prospectus supplement for a full description of loss
exposure
- -----------------------------------------------------------------------------------------------------------
Original $ Original % Current $ Current %
Bankruptcy 163,046.00 0.01552804% 163,046.00 0.01645804%
Fraud 31,500,308.00 3.00000001% 31,500,308.00 3.17967618%
Special Hazard 11,240,000.00 1.07046573% 11,059,342.94 1.11634240%
- ----------------------------------------------------------------------------------------------------------
Limit of subordinate's exposure to certain types of losses
DELINQUENCY STATUS BY GROUP
GROUP 1
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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 75,745.89 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 75,745.89 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 0.047664% 0.009471% 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%
-------------------- ------------------- -------------------
0.047664% 0.009471% 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 75,745.89
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 75,745.89
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 0.047664% 0.009471%
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% 0.047664% 0.009471%
- -------------------------------------------------------------------
GROUP 2
- --------------------------------------------------------------------------------------------------------
DELINQUENT BANKRUPTCY FORECLOSURE
- --------------------------------------------------------------------------------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 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 3.137784%
Weighted Average Net Coupon 2.887784%
Weighted Average Pass-Through Rate 2.887784%
Weighted Average Maturity (Stepdown Calculation) 290
Beginning Scheduled Collateral Loan Count 2,677
Number of Loans Paid in Full 22
Ending Scheduled Collateral Loan Count 2,655
Beginning Scheduled Collateral Balance 1,000,661,206.87
Ending Scheduled Collateral Balance 990,676,605.09
Ending Actual Collateral Balance at 30-May-03 990,676,605.81
Monthly P&I Constant 2,616,549.28
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realization Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 12,310,537.41
Ending Scheduled Balance for Premium Loans 990,676,605.09
Scheduled Principal 0.01
Unscheduled Principal 9,984,601.77
GROUP 1 2 TOTAL
Collateral Description Mixed ARM 6 Month ARM Mixed ARM
Weighted Average Coupon Rate 3.118473 3.219234 3.137784
Weighted Average Net Rate 2.868473 2.969234 2.887784
Pass-Through Rate 2.868473 2.969234 2.887784
Weighted Average Maturity 290 290 290
Record Date 05/30/2003 05/30/2003 05/30/2003
Principal and Interest Constant 2,102,063.17 514,486.11 2,616,549.28
Beginning Loan Count 2,115 562 2,677
Loans Paid in Full 17 5 22
Ending Loan Count 2,098 557 2,655
Beginning Scheduled Balance 808,881,656.57 191,779,550.30 1,000,661,206.87
Ending Scheduled Balance 799,761,600.20 190,915,004.89 990,676,605.09
Scheduled Principal 0.00 0.01 0.01
Unscheduled Principal 9,120,056.37 864,545.40 9,984,601.77
Scheduled Interest 2,102,063.17 514,486.10 2,616,549.27
Servicing Fee 168,517.01 39,954.08 208,471.09
Master Servicing Fee 0.00 0.00 0.00
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 1,933,546.16 474,532.02 2,408,078.18
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 1
One Month LIBOR Loans 380,043,952.39
Six Month LIBOR Loans 419,717,647.81
Pro Rata Senior Percentage 96.583926%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%
Group 2
Pro Rata Senior Percentage 96.609041%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%