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 2003-5
RECORD DATE: DECEMBER 31, 2003
DISTRIBUTION DATE: JANUARY 20, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning
Class Certificate Pass- Certificate Interest Principal Current Ending Certificate
Class CUSIP Description Through Rate Balance Distribution Distribution Realized Loss Balance
- ----------------------------------------------------------------------------------------------------------------------------------
A-1 81743PCJ3 SEN 1.45875% 648,831,556.44 788,735.86 7,054,507.29 0.00 641,777,049.15
A-2 81743PCK0 SEN 1.53125% 145,943,238.66 186,229.65 3,784,388.65 0.00 142,158,850.01
X-1A 81743PCL8 IO 1.02688% 0.00 75,849.88 0.00 0.00 0.00
X-1B 81743PCM6 IO 1.26229% 0.00 589,282.36 0.00 0.00 0.00
X-2 81743PCN4 IO 1.17582% 0.00 143,006.98 0.00 0.00 0.00
X-B 81743PCP9 IO 0.94343% 0.00 11,831.40 0.00 0.00 0.00
A-R 81743PCQ7 R 2.70140% 0.00 0.00 0.00 0.00 0.00
B-1 81743PCR5 SUB 1.74875% 15,043,000.00 21,922.04 0.00 0.00 15,043,000.00
B-2 81743PCS3 SUB 2.69218% 6,447,000.00 14,463.73 0.00 0.00 6,447,000.00
B-3 81743PCT1 SUB 2.69218% 6,017,000.00 13,499.03 0.00 0.00 6,017,000.00
B-4 SEQ0305B4 SUB 2.69218% 2,149,000.00 4,821.24 0.00 0.00 2,149,000.00
B-5 SEQ0305B5 SUB 2.69218% 1,289,000.00 2,891.85 0.00 0.00 1,289,000.00
B-6 SEQ0305B6 SUB 2.69218% 3,439,209.40 7,715.80 0.00 0.00 3,439,209.40
- --------------------------------------------------------------------------------------------------------------------------------
Totals 829,159,004.50 1,860,249.82 10,838,895.94 0.00 818,320,108.56
- --------------------------------------------------------------------------------------------------------------------------------
Total Cumulative
Class CUSIP Distribution Realized Loss
- -----------------------------------------------------
A-1 81743PCJ3 7,843,243.15 0.00
A-2 81743PCK0 3,970,618.30 0.00
X-1A 81743PCL8 75,849.88 0.00
X-1B 81743PCM6 589,282.36 0.00
X-2 81743PCN4 143,006.98 0.00
X-B 81743PCP9 11,831.40 0.00
A-R 81743PCQ7 0.00 0.00
B-1 81743PCR5 21,922.04 0.00
B-2 81743PCS3 14,463.73 0.00
B-3 81743PCT1 13,499.03 0.00
B-4 SEQ0305B4 4,821.24 0.00
B-5 SEQ0305B5 2,891.85 0.00
B-6 SEQ0305B6 7,715.80 0.00
- ------------------------------------------------
Totals 12,699,145.76 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 Realized Total Principal Ending Certificate
Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance
- -----------------------------------------------------------------------------------------------------------------------------
A-1 675,596,000.00 648,831,556.44 330.26 7,054,177.03 0.00 0.00 7,054,507.29 641,777,049.15
A-2 149,609,000.00 145,943,238.66 6.10 3,784,382.55 0.00 0.00 3,784,388.65 142,158,850.01
X-1A 0.00 0.00 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 0.00 0.00
X-2 0.00 0.00 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 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 15,043,000.00 15,043,000.00 0.00 0.00 0.00 0.00 0.00 15,043,000.00
B-2 6,447,000.00 6,447,000.00 0.00 0.00 0.00 0.00 0.00 6,447,000.00
B-3 6,017,000.00 6,017,000.00 0.00 0.00 0.00 0.00 0.00 6,017,000.00
B-4 2,149,000.00 2,149,000.00 0.00 0.00 0.00 0.00 0.00 2,149,000.00
B-5 1,289,000.00 1,289,000.00 0.00 0.00 0.00 0.00 0.00 1,289,000.00
B-6 3,439,209.40 3,439,209.40 0.00 0.00 0.00 0.00 0.00 3,439,209.40
- ---------------------------------------------------------------------------------------------------------------------------
Totals 859,589,309.40 829,159,004.50 336.36 10,838,559.58 0.00 0.00 10,838,895.94 818,320,108.56
- ---------------------------------------------------------------------------------------------------------------------------
Ending Certificate Total Principal
Class Percentage Distribution
- ----------------------------------------------
A-1 0.94994205 7,054,507.29
A-2 0.95020253 3,784,388.65
X-1A 0.00000000 0.00
X-1B 0.00000000 0.00
X-2 0.00000000 0.00
X-B 0.00000000 0.00
A-R 0.00000000 0.00
B-1 1.00000000 0.00
B-2 1.00000000 0.00
B-3 1.00000000 0.00
B-4 1.00000000 0.00
B-5 1.00000000 0.00
B-6 1.00000000 0.00
- ---------------------------------------------
Totals 0.95198963 10,838,895.94
- ---------------------------------------------
(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 Realized Total Principal Ending Certificate
Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance
- --------------------------------------------------------------------------------------------------------------------------------
A-1 675,596,000.00 960.38395201 0.00048884 10.44141326 0.00000000 0.00000000 10.44190210 949.94204991
A-2 149,609,000.00 975.49772179 0.00004077 25.29515303 0.00000000 0.00000000 25.29519381 950.20252799
X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 15,043,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
B-2 6,447,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
B-3 6,017,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
B-4 2,149,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
B-5 1,289,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
B-6 3,439,209.40 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
Ending Certificate Total Principal
Class Percentage Distribution
- -----------------------------------------------
A-1 0.94994205 10.44190210
A-2 0.95020253 25.29519381
X-1A 0.00000000 0.00000000
X-1B 0.00000000 0.00000000
X-2 0.00000000 0.00000000
X-B 0.00000000 0.00000000
A-R 0.00000000 0.00000000
B-1 1.00000000 0.00000000
B-2 1.00000000 0.00000000
B-3 1.00000000 0.00000000
B-4 1.00000000 0.00000000
B-5 1.00000000 0.00000000
B-6 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 Non-
Certificate/ Current Unpaid Current Supported
Original Face Current Notional Accrued Interest Interest Interest Realized Total Interest
Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) Distribution
- ----------------------------------------------------------------------------------------------------------------------------------
A-1 675,596,000.00 1.45875% 648,831,556.44 788,735.86 0.00 0.00 0.00 0.00 788,735.86
A-2 149,609,000.00 1.53125% 145,943,238.66 186,229.65 0.00 0.00 0.00 0.00 186,229.65
X-1A 0.00 1.02688% 88,635,720.72 75,848.80 0.00 0.00 0.00 0.00 75,849.88
X-1B 0.00 1.26229% 560,195,835.72 589,273.96 0.00 0.00 0.00 0.00 589,282.36
X-2 0.00 1.17582% 145,943,238.66 143,002.24 0.00 0.00 0.00 0.00 143,006.98
X-B 0.00 0.94343% 15,043,000.00 11,826.66 0.00 0.00 0.00 0.00 11,831.40
A-R 100.00 2.70140% 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 15,043,000.00 1.74875% 15,043,000.00 21,922.04 0.00 0.00 0.00 0.00 21,922.04
B-2 6,447,000.00 2.69218% 6,447,000.00 14,463.73 0.00 0.00 0.00 0.00 14,463.73
B-3 6,017,000.00 2.69218% 6,017,000.00 13,499.03 0.00 0.00 0.00 0.00 13,499.03
B-4 2,149,000.00 2.69218% 2,149,000.00 4,821.24 0.00 0.00 0.00 0.00 4,821.24
B-5 1,289,000.00 2.69218% 1,289,000.00 2,891.85 0.00 0.00 0.00 0.00 2,891.85
B-6 3,439,209.40 2.69218% 3,439,209.40 7,715.80 0.00 0.00 0.00 0.00 7,715.80
---------------------------------------------------------------------------------------------------------------------------
Totals 859,589,309.40 1,860,230.86 0.00 0.00 0.00 0.00 1,860,249.82
- ---------------------------------------------------------------------------------------------------------------------------------
Remaining Ending
Unpaid Certificate/
Interest Notational
Class Shortfall Balance
- ------------------------------------
A-1 0.00 641,777,049.15
A-2 0.00 142,158,850.01
X-1A 0.00 88,539,867.69
X-1B 0.00 553,237,181.46
X-2 0.00 142,158,850.01
X-B 0.00 15,043,000.00
A-R 0.00 0.00
B-1 0.00 15,043,000.00
B-2 0.00 6,447,000.00
B-3 0.00 6,017,000.00
B-4 0.00 2,149,000.00
B-5 0.00 1,289,000.00
B-6 0.00 3,439,209.40
------------------------------
Totals 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 Non-
Current Beginning Unpaid Current Supported
Class (5) Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized
Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6)
- -------------------------------------------------------------------------------------------------------------------------
A-1 675,596,000.00 1.45875% 960.38395201 1.16746674 0.00000000 0.00000000 0.00000000 0.00000000
A-2 149,609,000.00 1.53125% 975.49772179 1.24477572 0.00000000 0.00000000 0.00000000 0.00000000
X-1A 0.00 1.02688% 985.85898375 0.84363528 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00 1.26229% 956.47336708 1.00612110 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 1.17582% 975.49772179 0.95583982 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.94343% 1000.00000000 0.78619025 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 2.70140% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 15,043,000.00 1.74875% 1000.00000000 1.45729176 0.00000000 0.00000000 0.00000000 0.00000000
B-2 6,447,000.00 2.69218% 1000.00000000 2.24348224 0.00000000 0.00000000 0.00000000 0.00000000
B-3 6,017,000.00 2.69218% 1000.00000000 2.24348180 0.00000000 0.00000000 0.00000000 0.00000000
B-4 2,149,000.00 2.69218% 1000.00000000 2.24348069 0.00000000 0.00000000 0.00000000 0.00000000
B-5 1,289,000.00 2.69218% 1000.00000000 2.24348332 0.00000000 0.00000000 0.00000000 0.00000000
B-6 3,439,209.40 2.69218% 1000.00000000 2.24348073 0.00000000 0.00000000 0.00000000 0.00000000
Remaining
Unpaid
Class (5) Total Interest Interest Ending Certificate/
Distribution Shortfall Notational Balance
- ----------------------------------------------------------------
A-1 1.16746674 0.00000000 949.94204991
A-2 1.24477572 0.00000000 950.20252799
X-1A 0.84364729 0.00000000 984.79284958
X-1B 1.00613544 0.00000000 944.59222295
X-2 0.95587151 0.00000000 950.20252799
X-B 0.78650535 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000
B-1 1.45729176 0.00000000 1000.00000000
B-2 2.24348224 0.00000000 1000.00000000
B-3 2.24348180 0.00000000 1000.00000000
B-4 2.24348069 0.00000000 1000.00000000
B-5 2.24348332 0.00000000 1000.00000000
B-6 2.24348073 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 12,972,220.36
Liquidations, Insurance Proceeds, Reserve Funds 18.97
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 17,740.45
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 12,989,979.78
Withdrawals
Reimbursement for Servicer Advances 26,381.73
Payment of Service Fee 264,452.29
Payment of Interest and Principal 12,699,145.76
-------------
Total Withdrawals (Pool Distribution Amount) 12,989,979.78
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 259,270.07
Master Servicing Fee 5,182.22
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 264,452.29
==========
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- ---------------------- --------- ----------- -------- --------
Class X-1 Reserve Fund 5,000.00 9.49 9.49 5,000.00
Class X-2 Reserve Fund 2,500.00 4.74 4.74 2,500.00
Class X-B Reserve Fund 2,500.00 4.74 4.74 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 21 6,941,073.17 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 400,000.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 1 255,000.00 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
-------------------------- -------------------- ---------------------
23 7,596,073.17 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 0.945520% 0.848209% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.045025% 0.048881% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.045025% 0.031161% 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%
----------------------- ---------------------- -----------------------
1.035570% 0.928251% 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 21 6,941,073.17
60 Days 0 0.00 60 Days 1 400,000.00
90 Days 0 0.00 90 Days 1 255,000.00
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 23 7,596,073.17
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 0.945520% 0.848209%
60 Days 0.000000% 0.000000% 60 Days 0.045025% 0.048881%
90 Days 0.000000% 0.000000% 90 Days 0.045025% 0.031161%
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% 1.035570% 0.928251%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 17,740.45
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
PERCENTAGE
Original $ Original% Current $ Current % Current Class % Prepayment %
------------- ----------- ------------- ----------- --------------- ------------
Class A 34,384,209.40 4.00007411% 34,384,209.40 4.20180429% 95.798196% 0.000000%
Class X-1-A 34,384,209.40 4.00007411% 34,384,209.40 4.20180429% 0.000000% 0.000000%
Class X-1-B 34,384,209.40 4.00007411% 34,384,209.40 4.20180429% 0.000000% 0.000000%
Class X-2 34,384,209.40 4.00007411% 34,384,209.40 4.20180429% 0.000000% 0.000000%
Class B-1 19,341,209.40 2.25005234% 19,341,209.40 2.36352611% 1.838278% 43.749734%
Class B-2 12,894,209.40 1.50004302% 12,894,209.40 1.57569260% 0.787834% 18.749886%
Class B-3 6,877,209.40 0.80005758% 6,877,209.40 0.84040577% 0.735287% 17.499312%
Class B-4 4,728,209.40 0.55005447% 4,728,209.40 0.57779460% 0.262611% 6.249962%
Class B-5 3,439,209.40 0.40009914% 3,439,209.40 0.42027678% 0.157518% 3.748814%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.420277% 10.002293%
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE
- -------------------------------------------- --------------------------------------- ---------------------------------------
ONE-MONTH LIBOR - GROUP 1
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
- -------------------------------------- -----------------------------------------
ONE-MONTH LIBOR - GROUP 1
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%
DELINQUENT BANKRUPTCY FORECLOSURE
- -------------------------------------------- --------------------------------------- ---------------------------------------
SIX-MONTH LIBOR - GROUP 1
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 16 5,488,933.17 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 400,000.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 1 255,000.00 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
------------------------- --------------------- ----------------------
18 6,143,933.17 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 0.982198% 0.950458% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.061387% 0.069264% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.061387% 0.044156% 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%
----------------------- ---------------------- -----------------------
1.104972% 1.063877% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- -------------------------------------- ------------------------------------------
SIX-MONTH LIBOR - GROUP 1
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 16 5,488,933.17
60 Days 0 0.00 60 Days 1 400,000.00
90 Days 0 0.00 90 Days 1 255,000.00
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 18 6,143,933.17
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 0.982198% 0.950458%
60 Days 0.000000% 0.000000% 60 Days 0.061387% 0.069264%
90 Days 0.000000% 0.000000% 90 Days 0.061387% 0.044156%
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% 1.104972% 1.063877%
DELINQUENT BANKRUPTCY FORECLOSURE
- -------------------------------------------- --------------------------------------- ---------------------------------------
SIX-MONTH LIBOR - GROUP 2
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 1,452,140.00 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
------------------------- --------------------- ----------------------
5 1,452,140.00 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 1.275510% 0.978574% 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%
----------------------- ---------------------- -----------------------
1.275510% 0.978574% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- -------------------------------------- ------------------------------------------
SIX-MONTH LIBOR - GROUP 2
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 1,452,140.00
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 5 1,452,140.00
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 1.275510% 0.978574%
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% 1.275510% 0.978574%
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 3.074947%
Weighted Average Net Coupon 2.699718%
Weighted Average Pass-Through Rate 2.692218%
Weighted Average Maturity (Stepdown Calculation) 332
Beginning Scheduled Collateral Loan Count 2,240
Number of Loans Paid in Full 19
Ending Scheduled Collateral Loan Count 2,221
Beginning Scheduled Collateral Balance 829,159,004.50
Ending Scheduled Collateral Balance 818,320,108.56
Ending Actual Collateral Balance at 31-Dec-2003 818,321,173.13
Monthly P&I Constant 2,125,019.54
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 12,621,986.46
Ending Scheduled Balance for Premium Loans 818,320,108.56
Scheduled Principal 336.36
Unscheduled Principal 10,838,559.58
MISCELLANEOUS REPORTING
Pro Rata Senior Percent - Group 1 95.841893%
Pro Rata Senior Percent - Group 2 95.903077%
Senior Percent - Group 1 100.000000%
Senior Percent - Group 2 100.000000%
Senior Prepayment Percent - Group 1 100.000000%
Senior Prepayment Percent - Group 2 100.000000%
Subordinate Percent - Group 1 0.000000%
Subordinate Percent - Group 2 0.000000%
Subordinate Prepayment Percent - Group 1 0.000000%
Subordinate Prepayment Percent - Group 2 0.000000%
Principal Transfer Amount - Group 1 0.00
Principal Transfer Amount - Group 2 0.00
Interest Transfer Amount - Group 1 0.00
Interest Transfer Amount - Group 2 0.00
GROUP 1 MO. LIBOR - GR 1 6 MO LIBOR - GR 1 6 MO LIBOR - GR 2 TOTAL
Collateral Description 1 Month LIBOR ARM 6 Month LIBOR ARM 6 Month LIBOR ARM Mixed ARM
Weighted Average Coupon Rate 2.868134 3.103823 3.089720 3.074947
Weighted Average Net Rate 2.493134 2.728538 2.714568 2.699718
Pass-Through Rate 2.485634 2.721038 2.707068 2.692218
Weighted Average Maturity 317 335 332 332
Record Date 12/31/2003 12/31/2003 12/31/2003 12/31/2003
Principal and Interest Constant 221,051.43 1,512,139.56 391,828.55 2,125,019.54
Beginning Loan Count 200 1,643 397 2,240
Loans Paid in Full 0 14 5 19
Ending Loan Count 200 1,629 392 2,221
Beginning Scheduled Balance 92,481,187.39 584,499,969.54 152,177,847.57 829,159,004.50
Ending Scheduled Balance 92,423,399.99 577,503,249.65 148,393,458.92 818,320,108.56
Scheduled Principal 11.10 319.16 6.10 336.36
Unscheduled Principal 57,776.30 6,996,400.73 3,784,382.55 10,838,559.58
Scheduled Interest 221,040.33 1,511,820.40 391,822.45 2,124,683.18
Servicing Fee 28,900.37 182,794.85 47,574.85 259,270.07
Master Servicing Fee 578.00 3,653.11 951.11 5,182.22
Trustee Fee 0.00 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00 0.00
Net Interest 191,561.96 1,325,372.44 343,296.49 1,860,230.89
Realized Loss Amount 0.00 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00 0.00
Prepayment Penalties 0.00 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00 0.00