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 2003-3
RECORD DATE: AUGUST 29, 2003
DISTRIBUTION DATE: SEPTEMBER 22, 2003
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
<Table>
<Caption>
Certificate
Class Certificate Beginning Interest Principal
Class CUSIP Description Pass-Through Rate Certificate Balance Distribution Distribution
- ------------- -------------------- ---------------- ------------------- --------------------- ------------------ -------------
A-1 81743PAT3 SEN 1.44000% 375,651,375.74 450,781.65 2,361,976.75
A-2 81743PAU0 SEN 1.34000% 148,517,454.61 165,844.49 862,458.49
X-1A 81743PAV8 IO 0.94990% 0.00 78,912.36 0.00
X-1B 81743PAW6 IO 1.31510% 0.00 302,432.15 0.00
X-2 81743PAX4 IO 1.40895% 0.00 174,378.40 0.00
X-B 81743PAY2 IO 0.92389% 0.00 6,986.95 0.00
A-R 81743PBA3 R 2.63682% 0.00 0.00 0.00
B-1 81743PBB1 SUB 1.76000% 9,075,000.00 13,310.00 0.00
B-2 81743PBC9 SUB 2.68389% 4,675,000.00 10,456.00 0.00
B-3 81743PBD7 SUB 2.68389% 2,475,000.00 5,535.53 0.00
B-4 81743PBE5 SUB 2.68389% 1,650,000.00 3,690.35 0.00
B-5 81743PBF2 SUB 2.68389% 825,000.00 1,845.18 0.00
B-6 81743PBG0 SUB 2.68389% 1,925,608.17 4,306.77 0.00
- ------------- --------------------- ------------------ ------------
Totals 544,794,438.52 1,218,479.83 3,224,435.24
- ------------- --------------------- ------------------ -------------
<Caption>
Current Ending Certificate Cumulative
Class Realized Loss Balance Total Distribution Realized Loss
- ------------- -------------------- ------------------ ------------------- ---------------------
A-1 0.00 373,289,398.99 2,812,758.40 0.00
A-2 0.00 147,654,996.12 1,028,302.98 0.00
X-1A 0.00 0.00 78,912.36 0.00
X-1B 0.00 0.00 302,432.15 0.00
X-2 0.00 0.00 174,378.40 0.00
X-B 0.00 0.00 6,986.95 0.00
A-R 0.00 0.00 0.00 0.00
B-1 0.00 9,075,000.00 13,310.00 0.00
B-2 0.00 4,675,000.00 10,456.00 0.00
B-3 0.00 2,475,000.00 5,535.53 0.00
B-4 0.00 1,650,000.00 3,690.35 0.00
B-5 0.00 825,000.00 1,845.18 0.00
B-6 0.00 1,925,608.17 4,306.77 0.00
- ------------- -------------------- ------------------ ------------------- ---------------------
Totals 0.00 541,570,003.28 4,442,916.07 0.00
- ------------- -------------------- ------------------ ------------------- ---------------------
</Table>
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
PRINCIPAL DISTRIBUTION STATEMENT
<Table>
<Caption>
Scheduled Unscheduled
Beginning Principal Principal Realized
Class Original Face Amount Certificate Balance Distribution Distribution Accretion Loss (1)
- ------------- -------------------- ------------------- --------------- ------------------ ------------------ ------------
A-1 379,455,000.00 375,651,375.74 0.00 2,361,976.75 0.00 0.00
A-2 149,922,000.00 148,517,454.61 0.00 862,458.49 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 9,075,000.00 9,075,000.00 0.00 0.00 0.00 0.00
B-2 4,675,000.00 4,675,000.00 0.00 0.00 0.00 0.00
B-3 2,475,000.00 2,475,000.00 0.00 0.00 0.00 0.00
B-4 1,650,000.00 1,650,000.00 0.00 0.00 0.00 0.00
B-5 825,000.00 825,000.00 0.00 0.00 0.00 0.00
B-6 1,925,608.17 1,925,608.17 0.00 0.00 0.00 0.00
- ------------- -------------------- ------------------- --------------- ------------------ ------------------ ------------
Totals 550,002,708.17 544,794,438.52 0.00 3,224,435.24 0.00 0.00
- ------------- -------------------- ------------------- --------------- ------------------ ------------------ ------------
<Caption>
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ------------- -------------------- --------------------- ---------------------- ------------------
A-1 2,361,976.75 373,289,398.99 0.98375143 2,361,976.75
A-2 862,458.49 147,654,996.12 0.98487878 862,458.49
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 9,075,000.00 1.00000000 0.00
B-2 0.00 4,675,000.00 1.00000000 0.00
B-3 0.00 2,475,000.00 1.00000000 0.00
B-4 0.00 1,650,000.00 1.00000000 0.00
B-5 0.00 825,000.00 1.00000000 0.00
B-6 0.00 1,925,608.17 1.00000000 0.00
- ------------- -------------------- --------------------- ---------------------- ------------------
Totals 3,224,435.24 541,570,003.28 0.98466788 3,224,435.24
- ------------- -------------------- --------------------- ---------------------- ------------------
</Table>
(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
<Table>
<Caption>
Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (3)
- ------------- -------------------- ------------------- ---------------- -------------------- -------------- -----------------
A-1 379,455,000.00 989.97608607 0.00000000 6.22465576 0.00000000 0.00000000
A-2 149,922,000.00 990.63149244 0.00000000 5.75271468 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 9,075,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 4,675,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 2,475,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 1,650,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 825,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 1,925,608.17 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
- ------------- -------------------- ------------------- ---------------- -------------------- -------------- -----------------
<Caption>
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ------------- -------------------- --------------------- ---------------------- ----------------------
A-1 6.22465576 983.75143031 0.98375143 6.22465576
A-2 5.75271468 984.87877776 0.98487878 5.75271468
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
- ------------- -------------------- --------------------- ---------------------- ----------------------
</Table>
(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
<Table>
<Caption>
Payment of
Beginning Unpaid Current
Current Certificate/ Current Accrued Interest Interest
Class Original Face Amount Certificate Rate Notional Balance Interest Shortfall Shortfall
- ------------ -------------------- ------------------ ----------------- ---------------- -------------- --------------
A-1 379,455,000.00 1.44000% 375,651,375.74 450,781.65 0.00 0.00
A-2 149,922,000.00 1.34000% 148,517,454.61 165,844.49 0.00 0.00
X-1A 0.00 0.94990% 99,688,859.70 78,912.36 0.00 0.00
X-1B 0.00 1.31510% 275,962,516.04 302,432.15 0.00 0.00
X-2 0.00 1.40895% 148,517,454.61 174,378.40 0.00 0.00
X-B 0.00 0.92389% 9,075,000.00 6,986.95 0.00 0.00
A-R 100.00 2.63682% 0.00 0.00 0.00 0.00
B-1 9,075,000.00 1.76000% 9,075,000.00 13,310.00 0.00 0.00
B-2 4,675,000.00 2.68389% 4,675,000.00 10,456.00 0.00 0.00
B-3 2,475,000.00 2.68389% 2,475,000.00 5,535.53 0.00 0.00
B-4 1,650,000.00 2.68389% 1,650,000.00 3,690.35 0.00 0.00
B-5 825,000.00 2.68389% 825,000.00 1,845.18 0.00 0.00
B-6 1,925,608.17 2.68389% 1,925,608.17 4,306.77 0.00 0.00
- ------------ ---------------------- ----------------- --------------- ----------------
Totals 550,002,708.17 1,218,479.83 0.00 0.00
- ------------ ---------------------- ----------------- --------------- ----------------
<Caption>
Remaining
Non-Supported Unpaid
Interest Realized Total Interest Interest Ending Certificate/
Class Shortfall Loss(4) Distribution Shortfall Notational Balance
- ------------ -------------- ------------- ----------------- --------------- ---------------------
A-1 0.00 0.00 450,781.65 0.00 373,289,398.99
A-2 0.00 0.00 165,844.49 0.00 147,654,996.12
X-1A 0.00 0.00 78,912.36 0.00 99,458,019.30
X-1B 0.00 0.00 302,432.15 0.00 273,831,379.69
X-2 0.00 0.00 174,378.40 0.00 147,654,996.12
X-B 0.00 0.00 6,986.95 0.00 9,075,000.00
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 13,310.00 0.00 9,075,000.00
B-2 0.00 0.00 10,456.00 0.00 4,675,000.00
B-3 0.00 0.00 5,535.53 0.00 2,475,000.00
B-4 0.00 0.00 3,690.35 0.00 1,650,000.00
B-5 0.00 0.00 1,845.18 0.00 825,000.00
B-6 0.00 0.00 4,306.77 0.00 1,925,608.17
- ------------ --------------- -------------- ------------------ ----------------
Totals 0.00 0.00 1,218,479.83 0.00
- ------------ --------------- -------------- ------------------ ----------------
</Table>
(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
<Table>
<Caption>
Payment of
Current Beginning Unpaid Current
Original Face Certificate Certificate/ Current Accrued Interest Interest
Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall
- ----------- ------------------- ------------ ------------------ -------------------- --------------- -------------
A-1 379,455,000.00 1.44000% 989.97608607 1.18797130 0.00000000 0.00000000
A-2 149,922,000.00 1.34000% 990.63149244 1.10620516 0.00000000 0.00000000
X-1A 0.00 0.94990% 988.66668527 0.78261525 0.00000000 0.00000000
X-1B 0.00 1.31510% 990.44994794 1.08545143 0.00000000 0.00000000
X-2 0.00 1.40895% 990.63149244 1.16312749 0.00000000 0.00000000
X-B 0.00 0.92389% 1000.00000000 0.76991185 0.00000000 0.00000000
A-R 100.00 2.63682% 0.00000000 0.00000000 0.00000000 0.00000000
B-1 9,075,000.00 1.76000% 1000.00000000 1.46666667 0.00000000 0.00000000
B-2 4,675,000.00 2.68389% 1000.00000000 2.23657754 0.00000000 0.00000000
B-3 2,475,000.00 2.68389% 1000.00000000 2.23657778 0.00000000 0.00000000
B-4 1,650,000.00 2.68389% 1000.00000000 2.23657576 0.00000000 0.00000000
B-5 825,000.00 2.68389% 1000.00000000 2.23658182 0.00000000 0.00000000
B-6 1,925,608.17 2.68389% 1000.00000000 2.23657651 0.00000000 0.00000000
- ----------- ------------------- ------------ ------------------ -------------------- --------------- -------------
<Caption>
Remaining
Non-Supported Unpaid
Interest Realized Total Interest Interest Ending Certificate/
Class (5) Shortfall Loss (6) Distribution Shortfall Notational Balance
- ----------- --------------- ---------------- ----------------- --------------- -----------------------
A-1 0.00000000 0.00000000 1.18797130 0.00000000 983.75143031
A-2 0.00000000 0.00000000 1.10620516 0.00000000 984.87877776
X-1A 0.00000000 0.00000000 0.78261525 0.00000000 986.37732001
X-1B 0.00000000 0.00000000 1.08545143 0.00000000 982.80114144
X-2 0.00000000 0.00000000 1.16312749 0.00000000 984.87877776
X-B 0.00000000 0.00000000 0.76991185 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 1.46666667 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 2.23657754 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 2.23657778 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 2.23657576 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 2.23658182 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 2.23657651 0.00000000 1000.00000000
- ----------- --------------- ---------------- ----------------- --------------- -----------------------
</Table>
(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
<Table>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 4,618,111.99
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 5,794.17
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
------------
Total Deposits 4,623,906.16
Withdrawals
Reimbursement for Servicer Advances 5,736.71
Payment of Service Fee 175,254.37
Payment of Interest and Principal 4,442,915.08
------------
Total Withdrawals (Pool Distribution Amount) 4,623,906.16
Ending Balance 0.00
============
</Table>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<Table>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
----
Non-Supported Prepayment Curtailment Interest Shortfall 0.00
====
</Table>
SERVICING FEES
<Table>
Gross Servicing Fee 170,714.41
Master Servicing Fee 4,539.96
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 175,254.37
==========
</Table>
<Table>
<Caption>
Ending
Account Type Beginning Balance Current Withdrawals Current Deposits Balance
- ------------ ----------------- ------------------- ---------------- --------
Reserve Fund 5,000.00 0.00 0.00 5,000.00
Reserve Fund 2,500.00 0.00 0.00 2,500.00
Reserve Fund 2,500.00 0.00 0.00 2,500.00
</Table>
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
<Table>
<Caption>
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 6 1,524,959.38 30 Days 0 0.00 30 Days 0 0.00
60 Days 2 987,589.01 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
----------- --------------- --------- ------------- --------- -----------
8 2,512,548.39 0 0.00 0 0.00
<Caption>
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 0.381922% 0.281581% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.127307% 0.182357% 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%
----------- --------------- --------- ------------- --------- -----------
0.509230% 0.463938% 0.000000% 0.000000% 0.000000% 0.000000%
<Caption>
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 6 1,524,959.38
60 Days 0 0.00 60 Days 2 987,589.01
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 8 2,512,548.39
<Caption>
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 0.381922% 0.281581%
60 Days 0.000000% 0.000000% 60 Days 0.127307% 0.182357%
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% 0.509230% 0.463938%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5,794.17
</Table>
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
<Table>
<Caption>
Original $ Original % Current $ Current % Current Class % Prepayment %
------------- ------------- ------------- ------------- --------------- -------------
Class A 20,625,608.17 3.75009211% 20,625,608.17 3.80848423% 96.191516% 0.000000%
Class X-2 20,625,608.17 3.75009211% 20,625,608.17 3.80848423% 0.000000% 0.000000%
Class B-1 11,550,608.17 2.10010024% 11,550,608.17 2.13280058% 1.675684% 43.998703%
Class B-2 6,875,608.17 1.25010442% 6,875,608.17 1.26956961% 0.863231% 22.665998%
Class B-3 4,400,608.17 0.80010664% 4,400,608.17 0.81256498% 0.457005% 11.999646%
Class B-4 2,750,608.17 0.50010811% 2,750,608.17 0.50789522% 0.304670% 7.999764%
Class B-5 1,925,608.17 0.35010885% 1,925,608.17 0.35556034% 0.152335% 3.999882%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.355560% 9.336007%
</Table>
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
GROUP 1
<Table>
<Caption>
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 5 1,211,501.94 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 187,589.01 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
-------------- -------------- ------------- ------------- ------------- -------------
6 1,399,090.95 0 0.00 0 0.00
<Caption>
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 0.448833% 0.312184% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.089767% 0.048339% 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%
-------------- -------------- ------------- ------------- ------------- --------------
0.538600% 0.360522% 0.000000% 0.000000% 0.000000% 0.000000%
- ------------- -------------- -------------- -------------- ------------- ------------- ------------- ------------- --------------
<Caption>
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 5 1,211,501.94
60 Days 0 0.00 60 Days 1 187,589.01
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 6 1,399,090.95
<Caption>
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 0.448833% 0.312184%
60 Days 0.000000% 0.000000% 60 Days 0.089767% 0.048339%
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% 0.538600% 0.360522%
------------- ------------- ------------- ------------- ------------- ----------------
</Table>
GROUP 2
<Table>
<Caption>
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 1 313,457.44 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 800,000.00 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
------------- -------------- ------------- -------------- ------------- -------------
2 1,113,457.44 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 0.218818% 0.204211% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.218818% 0.521184% 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%
------------- -------------- ------------- -------------- ------------- -------------
0.437637% 0.725395% 0.000000% 0.000000% 0.000000% 0.000000%
- --------------- ------------- -------------- ------------- ------------- -------------- ------------- ------------- -------------
<Caption>
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 1 313,457.44
60 Days 0 0.00 60 Days 1 800,000.00
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 2 1,113,457.44
<Caption>
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 0.218818% 0.204211%
60 Days 0.000000% 0.000000% 60 Days 0.218818% 0.521184%
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% 0.437637% 0.725395%
- ------------- ---------- --------- ------------- --------- ----------
</Table>
COLLATERAL STATEMENT
<Table>
<Caption>
Collateral Description Mixed Arm
Weighted Average Gross Coupon 3.069930%
Weighted Average Net Coupon 2.693904%
Weighted Average Pass-Through Rate 2.683904%
Weighted Average Maturity (Stepdown Calculation) 355
Beginning Scheduled Collateral Loan Count 1,579
Number of Loans Paid in Full 8
Ending Scheduled Collateral Loan Count 1,571
Beginning Scheduled Collateral Balance 544,794,438.52
Ending Scheduled Collateral Balance 541,570,003.28
Ending Actual Collateral Balance at 29-Aug-2003 541,570,144.87
Monthly P&I Constant 1,393,734.20
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 4,396,784.29
Ending Scheduled Balance for Premium Loans 541,570,003.28
Scheduled Principal 0.00
Unscheduled Principal 3,224,435.24
</Table>
MISCELLANEOUS REPORTING
<Table>
<Caption>
Group 1 One Month Libor Loan Balance 103,396,991.07
Group 1 Six Month Libor Loan Balance 284,676,297.79
Group 2 Six Month Libor Loan Balance 153,496,714.42
Pro-Rata Senior Percent 96.214057%
Group 1 Senior Percent 100.000000%
Group 2 Senior Percent 100.000000%
Group 1 Senior Prepayment Percent 100.000000%
Group 2 Senior Prepayment Percent 100.000000%
</Table>
<Table>
<Caption>
GROUP 1 2 TOTAL
Collateral Description Mixed ARM Mixed ARM Mixed ARM
Weighted Average Coupon Rate 3.044619 3.133953 3.069930
Weighted Average Net Rate 2.668186 2.758953 2.693904
Pass-Through Rate 2.658186 2.748953 2.683904
Weighted Average Maturity 330 334 355
Record Date 08/29/2003 08/29/2003 08/29/2003
Principal and Interest Constant 990,605.57 403,128.63 1,393,734.20
Beginning Loan Count 1,121 458 1,579
Loans Paid in Full 7 1 8
Ending Loan Count 1,114 457 1,571
Beginning Scheduled Balance 390,435,265.61 154,359,172.91 544,794,438.52
Ending Scheduled Balance 388,073,288.86 153,496,714.42 541,570,003.28
Scheduled Principal 0.00 0.00 0.00
Unscheduled Principal 2,361,976.75 862,458.49 3,224,435.24
Scheduled Interest 990,605.57 403,128.63 1,393,734.20
Servicing Fee 122,477.17 48,237.24 170,714.41
Master Servicing Fee 3,253.62 1,286.34 4,539.96
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 864,874.78 353,605.05 1,218,479.83
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
</Table>