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: DECEMBER 31, 2003
DISTRIBUTION DATE: JANUARY 20, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate
Class Pass-Through Beginning Interest Principal
Class CUSIP Description Rate Certificate Balance Distribution Distribution
- ------------------------------------------------------------------------------------------------------------
1A 81743VAA1 SEN 1.54875% 721,508,154.86 931,196.46 9,307,186.88
2A-1 81743VAB9 SEN 1.52875% 166,991,223.93 212,739.86 2,170,706.77
2A-2 81743VAN3 SEN 1.82875% 3,500,000.00 5,333.85 0.00
X-1A 81743VAC7 IO 1.08544% 0.00 307,582.89 0.00
X-1B 81743VAD5 IO 1.16581% 0.00 370,613.61 0.00
X-2 81743VAP8 IO 1.18156% 0.00 167,875.70 0.00
X-B 81743VAE3 IO 0.62531% 0.00 13,411.07 0.00
A-R 81743VAF0 SEN 3.37730% 0.00 0.00 0.00
B-1 81743VAG8 SUB 1.94875% 12,600,000.00 20,461.88 0.00
B-2 81743VAH6 SUB 1.94875% 8,400,000.00 13,641.25 0.00
B-3 81743VAJ2 SUB 2.54875% 4,725,000.00 10,035.70 0.00
B-4 SMT0210B4 SUB 2.68426% 2,625,000.00 5,871.82 0.00
B-5 SMT0210B5 SUB 2.68426% 2,100,000.00 4,697.46 0.00
B-6 SMT0210B6 SUB 2.68426% 3,685,162.00 8,243.28 0.00
- ------------------------------------------------------------------------------------------------------------
Totals 926,134,540.79 2,071,704.83 11,477,893.65
- ------------------------------------------------------------------------------------------------------------
Current Ending Certificate Total Cumulative
Class CUSIP Realized Loss Balance Distribution Realized Loss
- -------------------------------------------------------------------------------------------------
1A 81743VAA1 0.00 712,200,967.98 10,238,383.34 0.00
2A-1 81743VAB9 0.00 164,820,517.16 2,383,446.63 0.00
2A-2 81743VAN3 0.00 3,500,000.00 5,333.85 0.00
X-1A 81743VAC7 0.00 0.00 307,582.89 0.00
X-1B 81743VAD5 0.00 0.00 370,613.61 0.00
X-2 81743VAP8 0.00 0.00 167,875.70 0.00
X-B 81743VAE3 0.00 0.00 13,411.07 0.00
A-R 81743VAF0 0.00 0.00 0.00 0.00
B-1 81743VAG8 0.00 12,600,000.00 20,461.88 0.00
B-2 81743VAH6 0.00 8,400,000.00 13,641.25 0.00
B-3 81743VAJ2 0.00 4,725,000.00 10,035.70 0.00
B-4 SMT0210B4 0.00 2,625,000.00 5,871.82 0.00
B-5 SMT0210B5 0.00 2,100,000.00 4,697.46 0.00
B-6 SMT0210B6 0.00 3,685,162.00 8,243.28 0.00
- -------------------------------------------------------------------------------------------------
Totals 0.00 914,656,647.14 13,549,598.48 0.00
- -------------------------------------------------------------------------------------------------
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled UnScheduled
Original Face Certificate Principal Principal
Class Amount Balance Distribution Distribution Accretion
- ----------------------------------------------------------------------------------------
1A 822,375,000.00 721,508,154.86 0.00 9,307,186.88 0.00
2A-1 190,000,000.00 166,991,223.93 0.00 2,170,706.77 0.00
2A-2 3,500,000.00 3,500,000.00 0.00 0.00 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 12,600,000.00 12,600,000.00 0.00 0.00 0.00
B-2 8,400,000.00 8,400,000.00 0.00 0.00 0.00
B-3 4,725,000.00 4,725,000.00 0.00 0.00 0.00
B-4 2,625,000.00 2,625,000.00 0.00 0.00 0.00
B-5 2,100,000.00 2,100,000.00 0.00 0.00 0.00
B-6 3,685,162.00 3,685,162.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------
Totals 1,050,010,262.00 926,134,540.79 0.00 11,477,893.65 0.00
- ----------------------------------------------------------------------------------------
Realized Total Principal Ending Certificate Ending Certificate Total Principal
Class Loss (1) Reduction Balance Percentage Distribution
- -----------------------------------------------------------------------------------------------------
1A 0.00 9,307,186.88 712,200,967.98 0.86602945 9,307,186.88
2A-1 0.00 2,170,706.77 164,820,517.16 0.86747641 2,170,706.77
2A-2 0.00 0.00 3,500,000.00 1.00000000 0.00
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 12,600,000.00 1.00000000 0.00
B-2 0.00 0.00 8,400,000.00 1.00000000 0.00
B-3 0.00 0.00 4,725,000.00 1.00000000 0.00
B-4 0.00 0.00 2,625,000.00 1.00000000 0.00
B-5 0.00 0.00 2,100,000.00 1.00000000 0.00
B-6 0.00 0.00 3,685,162.00 1.00000000 0.00
- ----------------------------------------------------------------------------------------------------
Totals 0.00 11,477,893.65 914,656,647.14 0.87109306 11,477,893.65
- ----------------------------------------------------------------------------------------------------
(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
Scheduled Unscheduled
Original Face Beginning Principal Principal Realized
Class Amount Certificate Balance Distribution Distribution Accretion Loss (3)
- ---------------------------------------------------------------------------------------------------------------
1A 822,375,000.00 877.34689753 0.00000000 11.31744871 0.00000000 0.00000000
2A-1 190,000,000.00 878.90117858 0.00000000 11.42477247 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
Ending
Total Principal Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ---------------------------------------------------------------------------------------
1A 11.31744871 866.02944883 0.86602945 11.31744871
2A-1 11.42477247 867.47640611 0.86747641 11.42477247
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
Beginning Payment of
Certificate/ Current Unpaid Current
Original Face Current Notional Accrued Interest Interest
Class Amount Certificate Rate Balance Interest Shortfall Shortfall
- -------------------------------------------------------------------------------------------------------------
1A 822,375,000.00 1.54875% 721,508,154.86 931,196.46 0.00 0.00
2A-1 190,000,000.00 1.52875% 166,991,223.93 212,739.86 0.00 0.00
2A-2 3,500,000.00 1.82875% 3,500,000.00 5,333.85 0.00 0.00
X-1A 0.00 1.08544% 340,037,134.52 307,574.11 0.00 0.00
X-1B 0.00 1.16581% 381,471,020.33 370,603.02 0.00 0.00
X-2 0.00 1.18156% 170,491,223.93 167,870.90 0.00 0.00
X-B 0.00 0.62531% 25,725,000.00 13,405.03 0.00 0.00
A-R 100.00 3.37730% 0.00 0.00 0.00 0.00
B-1 12,600,000.00 1.94875% 12,600,000.00 20,461.88 0.00 0.00
B-2 8,400,000.00 1.94875% 8,400,000.00 13,641.25 0.00 0.00
B-3 4,725,000.00 2.54875% 4,725,000.00 10,035.70 0.00 0.00
B-4 2,625,000.00 2.68426% 2,625,000.00 5,871.82 0.00 0.00
B-5 2,100,000.00 2.68426% 2,100,000.00 4,697.46 0.00 0.00
B-6 3,685,162.00 2.68426% 3,685,162.00 8,243.28 0.00 0.00
- -------------------------------------------------------------------------------------------------------------
Totals 1,050,010,262.00 2,071,674.62 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 0.00 931,196.46 0.00 712,200,967.98
2A-1 0.00 0.00 212,739.86 0.00 164,820,517.16
2A-2 0.00 0.00 5,333.85 0.00 3,500,000.00
X-1A 0.00 0.00 307,582.89 0.00 334,839,424.70
X-1B 0.00 0.00 370,613.61 0.00 377,361,543.28
X-2 0.00 0.00 167,875.70 0.00 168,320,517.16
X-B 0.00 0.00 13,411.07 0.00 25,725,000.00
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 20,461.88 0.00 12,600,000.00
B-2 0.00 0.00 13,641.25 0.00 8,400,000.00
B-3 0.00 0.00 10,035.70 0.00 4,725,000.00
B-4 0.00 0.00 5,871.82 0.00 2,625,000.00
B-5 0.00 0.00 4,697.46 0.00 2,100,000.00
B-6 0.00 0.00 8,243.28 0.00 3,685,162.00
- ---------------------------------------------------------------------------------------
Totals 0.00 0.00 2,071,704.83 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 Non-
Current Certificate/ Current Unpaid Current Supported
Original Face Certificate Notional Accrued Interest Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall Shortfall
- --------------------------------------------------------------------------------------------------------------
1A 822,375,000.00 1.54875% 877.34689753 1.13232584 0.00000000 0.00000000 0.00000000
2A-1 190,000,000.00 1.52875% 878.90117858 1.11968347 0.00000000 0.00000000 0.00000000
2A-2 3,500,000.00 1.82875% 1000.00000000 1.52395714 0.00000000 0.00000000 0.00000000
X-1A 0.00 1.08544% 865.32295293 0.78271139 0.00000000 0.00000000 0.00000000
X-1B 0.00 1.16581% 888.35006383 0.86304122 0.00000000 0.00000000 0.00000000
X-2 0.00 1.18156% 881.09159654 0.86754987 0.00000000 0.00000000 0.00000000
X-B 0.00 0.62531% 1000.00000000 0.52108960 0.00000000 0.00000000 0.00000000
A-R 100.00 3.37730% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 12,600,000.00 1.94875% 1000.00000000 1.62395873 0.00000000 0.00000000 0.00000000
B-2 8,400,000.00 1.94875% 1000.00000000 1.62395833 0.00000000 0.00000000 0.00000000
B-3 4,725,000.00 2.54875% 1000.00000000 2.12395767 0.00000000 0.00000000 0.00000000
B-4 2,625,000.00 2.68426% 1000.00000000 2.23688381 0.00000000 0.00000000 0.00000000
B-5 2,100,000.00 2.68426% 1000.00000000 2.23688571 0.00000000 0.00000000 0.00000000
B-6 3,685,162.00 2.68426% 1000.00000000 2.23688402 0.00000000 0.00000000 0.00000000
Remaining
Unpaid
Realized Total Interest Interest Ending Certificate/
Class (5) Loss (6) Distribution Shortfall Notational Balance
- ---------------------------------------------------------------------------
1A 0.00000000 1.13232584 0.00000000 866.02944883
2A-1 0.00000000 1.11968347 0.00000000 867.47640611
2A-2 0.00000000 1.52395714 0.00000000 1000.00000000
X-1A 0.00000000 0.78273373 0.00000000 852.09587520
X-1B 0.00000000 0.86306589 0.00000000 878.78012534
X-2 0.00000000 0.86757468 0.00000000 869.87347370
X-B 0.00000000 0.52132439 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1.62395873 0.00000000 1000.00000000
B-2 0.00000000 1.62395833 0.00000000 1000.00000000
B-3 0.00000000 2.12395767 0.00000000 1000.00000000
B-4 0.00000000 2.23688381 0.00000000 1000.00000000
B-5 0.00000000 2.23688571 0.00000000 1000.00000000
B-6 0.00000000 2.23688402 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 13,744,575.46
Liquidations, Insurance Proceeds, Reserve Funds 30.21
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 1,022.65
Realized Losses 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 13,745,628.32
Withdrawals
Reimbursement for Servicer Advances 3,085.15
Payment of Service Fee 192,944.69
Payment of Interest and Principal 13,549,598.48
-------------
Total Withdrawals (Pool Distribution Amount) 13,745,628.32
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 192,944.69
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 192,944.69
==========
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- ---------------------------------------------------------------------------------------------
Class X-A Basis Risk Reserve Fund 8,000.00 24.17 24,17 8,000.00
Class X-B Basis Risk Reserve Fund 2,000.00 6.04 6.04 2,000.00
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 2 490,871.08
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 2 490,871.08
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 0.081800% 0.053667%
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% 0.081800% 0.053667%
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 2 490,871.08
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 2 490,871.08
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 0.081800% 0.053667%
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% 0.081800% 0.053667%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,022.65
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% 914,656,647.14 100.00000000% 96.267981% 0.000000%
Class 1A 227,635,162.00 21.67932736% 202,455,679.16 22.13460972% 77.865390% 2,086.414495%
Class 2-A-1 37,635,162.00 3.58426611% 37,635,162.00 4.11467649% 18.019933% 482.846741%
Class 2-A-2 34,135,162.00 3.25093604% 34,135,162.00 3.73201923% 0.382657% 10.253357%
Class X-1-A 34,135,162.00 3.25093604% 34,135,162.00 3.73201923% 0.000000% 0.000000%
Class X-1-B 34,135,162.00 3.25093604% 34,135,162.00 3.73201923% 0.000000% 0.000000%
Class X-2 34,135,162.00 3.25093604% 34,135,162.00 3.73201923% 0.000000% 0.000000%
Class B-1 21,535,162.00 2.05094776% 21,535,162.00 2.35445312% 1.377566% 36.912085%
Class B-2 13,135,162.00 1.25095558% 13,135,162.00 1.43607572% 0.918377% 24.608057%
Class B-3 8,410,162.00 0.80095998% 8,410,162.00 0.91948843% 0.516587% 13.842032%
Class B-4 5,785,162.00 0.55096242% 5,785,162.00 0.63249549% 0.286993% 7.690018%
Class B-5 3,685,162.00 0.35096438% 3,685,162.00 0.40290113% 0.229594% 6.152014%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.402901% 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 0.01782592%
Fraud 31,500,308.00 3.00000001% 18,795,490.62 2.05492309%
Special Hazard 11,240,000.00 1.07046573% 10,638,648.04 1.16313024%
Limit of subordinate's exposure to certain types of losses
DELINQUENCY STATUS BY GROUP
GROUP 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 1 202,471.80
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 1 202,471.80
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 0.051733% 0.027367%
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% 0.051733% 0.027367%
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 1 202,471.80
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 1 202,471.80
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 0.051733% 0.027367%
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% 0.051733% 0.027367%
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 1 288,399.28
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 1 288,399.28
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 0.195313% 0.164966%
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% 0.195313% 0.164966%
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 1 288,399.28
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 1 288,399.28
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 0.195313% 0.164966%
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% 0.195313% 0.164966%
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 2.934286%
Weighted Average Net Coupon 2.684286%
Weighted Average Pass-Through Rate 2.684286%
Weighted Average Maturity (Stepdown Calculation) 283
Beginning Scheduled Collateral Loan Count 2,471
Number of Loans Paid in Full 26
Ending Scheduled Collateral Loan Count 2,445
Beginning Scheduled Collateral Balance 926,134,540.79
Ending Scheduled Collateral Balance 914,656,647.14
Ending Actual Collateral Balance at 31-Dec-2003 914.656,648.85
Monthly P&I Constant 2,264,619.33
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realization Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 13,473,211.86
Ending Scheduled Balance for Premium Loans 914,656,647.14
Scheduled Principal 0.00
Unscheduled Principal 11,477,893.65
GROUP 1 2 TOTAL
Collateral Description Mixed ARM 6 Month ARM Mixed ARM
Weighted Average Coupon Rate 2.926683 2.966466 2.934286
Weighted Average Net Rate 2.676683 2.716466 2.684286
Pass-Through Rate 2.676683 2.716466 2.682486
Weighted Average Maturity 283 283 283
Record Date 12/31/2003 12/31/2003 12/31/2003
Principal and Interest Constant 1,827,079.53 437,539.80 2,264,619.33
Beginning Loan Count 1,955 516 2,471
Loans Paid in Full 22 4 26
Ending Loan Count 1,933 512 2,445
Beginning Scheduled Balance 749,140,151.86 176,994,388.93 926,134,540.79
Ending Scheduled Balance 739,832,964.98 174,823,682.16 914,656,647.14
Scheduled Principal 0.00 0.00 0.00
Unscheduled Principal 9,307,186.88 2,170,706.77 11,477,893.65
Scheduled Interest 1,827,079.53 437,539.80 2,264,619.33
Servicing Fee 156,070.86 36,873.83 192,944.69
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 1,671,008.67 400,665.97 2,071,674.64
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 347,830,535.91
Six Month LIBOR Loans 392,002,429.07
Pro Rata Senior Percentage 96.311505%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%
Group 2
Pro Rata Senior Percentage 96.325779%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%