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 2003-6
RECORD DATE: DECEMBER 31, 2003
DISTRIBUTION DATE: JANUARY 20, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning
Class Certificate Pass- Certificate Interest Principal
Class CUSIP Description Through Rate Balance Distribution Distribution
- -------------------------------------------------------------------------------------------------------------
A-1 81743PCX2 SEN 1.45875% 450,573,681.83 547,728.63 7,786,283.24
X-1 81743PCZ7 IO 0.80000% 0.00 395,145.56 0.00
A-2 81743PCY0 SEN 1.55125% 177,238,448.44 229,117.62 1,200,583.56
X-2 81743PDA1 IO 0.38320% 0.00 200,487.66 0.00
B-1 81743PDD5 SUB 1.72875% 11,287,000.00 16,260.33 0.00
X-B 81743PDB9 IO 0.89460% 0.00 8,416.89 0.00
B-2 81743PDE3 SUB 2.62335% 5,643,000.00 12,336.30 0.00
B-3 81743PDF0 SUB 2.62335% 3,320,000.00 7,257.94 0.00
B-4 81743PDG8 SUB 2.62335% 1,660,000.00 3,628.97 0.00
B-5 81743PDH6 SUB 2.62335% 996,000.00 2,177.38 0.00
B-6 81743PDJ2 SUB 2.62335% 2,323,950.00 5,080.45 0.00
A-R 81743PDC7 RES 2.62120% 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------
Totals 653,042,080.27 1,427,637.73 8,986,866.80
- -------------------------------------------------------------------------------------------------------------
Current Ending Certificate Total Cumulative
Class CUSIP Realized Loss Balance Distribution Realized Loss
- ------------------------------------------------------------------------------------------------
A-1 81743PCX2 0.00 442,787,398.59 8,334,011.87 0.00
X-1 81743PCZ7 0.00 0.00 395,145.56 0.00
A-2 81743PCY0 0.00 176,037,864.88 1,429,701.18 0.00
X-2 81743PDA1 0.00 0.00 200,487.66 0.00
B-1 81743PDD5 0.00 11,287,000.00 16,260.33 0.00
X-B 81743PDB9 0.00 0.00 8,416.89 0.00
B-2 81743PDE3 0.00 5,643,000.00 12,336.30 0.00
B-3 81743PDF0 0.00 3,320,000.00 7,257.94 0.00
B-4 81743PDG8 0.00 1,600,000.00 3,628.97 0.00
B-5 81743PDH6 0.00 996,000.00 2,177.38 0.00
B-6 81743PDJ2 0.00 2,323,950.00 5,080.45 0.00
A-R 81743PDC7 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------
Totals 0.00 644,055,213.47 10,414,504.53 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
Class Amount Balance Distribution Distribution Accretion Loss (1)
- -----------------------------------------------------------------------------------------
A-1 458,238,000.00 450,573,681.83 556.07 7,785,727.17 0.00 0.00
X-1 0.00 0.00 0.00 0.00 0.00 0.00
A-2 180,474,000.00 117,238,448.44 137.34 1,200,446.22 0.00 0.00
X-2 0.00 0.00 0.00 0.00 0.00 0.00
B-1 11,287,000.00 11,287,000.00 0.00 0.00 0.00 0.00
B-2 5,643,000.00 5,643,000.00 0.00 0.00 0.00 0.00
B-3 3,320,000.00 3,320,000.00 0.00 0.00 0.00 0.00
B-4 1,660,000.00 1,660,000.00 0.00 0.00 0.00 0.00
B-5 996,000.00 996,000.00 0.00 0.00 0.00 0.00
B-6 2,323,950.00 2,323,950.00 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------
Totals 663,942,050.00 653,042,080.27 693.41 8,986,173.39 0.00 0.00
- ---------------------------------------------------------------------------------------
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- -------------------------------------------------------------------------------------
A-1 7,786,283.24 442,787,398.59 0.96628258 7,786,283.24
X-1 0.00 0.00 0.00000000 0.00
A-2 1,200,583.56 176,037,864.88 0.97541953 1,200,583.56
X-2 0.00 0.00 0.00000000 0.00
B-1 0.00 11,287,000.00 1.00000000 0.00
B-2 0.00 5,643,000.00 1.00000000 0.00
B-3 0.00 3,320,000.00 1.00000000 0.00
B-4 0.00 1,660,000.00 1.00000000 0.00
B-5 0.00 996,000.00 1.00000000 0.00
B-6 0.00 2,323,950.00 1.00000000 0.00
A-R 0.00 0.00 0.00000000 0.00
- -----------------------------------------------------------------------------------
Totals 8,986,866.80 644,055,213.47 0.97004733 8,986,866.80
- -----------------------------------------------------------------------------------
(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
Class Amount Balance Distribution Distribution Accretion Loss (3)
- --------------------------------------------------------------------------------------------
A-1 458,238,000.00 983.27437233 0.00121350 16.99057514 0.00000000 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-2 180,474,000.00 982.07192416 0.00076100 6.65162971 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 11,287,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 5,643,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 3,320,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 1,660,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 996,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 2,323,950.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
- --------------------------------------------------------------------------------------------
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- -------------------------------------------------------------------------------------
A-1 16.99178863 966.28258370 0.96628258 16.99178863
X-1 0.00000000 0.00000000 0.00000000 0.00000000
A-2 6.65239070 975.41953345 0.97541953 6.65239070
X-2 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1000.00000000 1.00000000 0.00000000
X-B 0.00000000 0.00000000 0.00000000 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
A-R 0.00000000 0.00000000 0.00000000 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
- --------------------------------------------------------------------------------------------------
A-1 458,238,000.00 1.45875% 450,573,681.83 547,728.63 0.00 0.00
X-1 0.00 0.80000% 592,713,976.10 395,142.65 0.00 0.00
A-2 180,474,000.00 1.55125% 177,238,448.44 229,117.62 0.00 0.00
X-2 0.00 0.38320% 627,812,130.27 200,483.28 0.00 0.00
B-1 11,287,000.00 1.72875% 11,287,000.00 16,260.33 0.00 0.00
X-B 0.00 0.89460% 11,287,000.00 8,414.46 0.00 0.00
B-2 5,643,000.00 2.62335% 5,643,000.00 12,336.30 0.00 0.00
B-3 3,320,000.00 2.62335% 3,320,000.00 7,257.94 0.00 0.00
B-4 1,660,000.00 2.62335% 1,660,000.00 3,628.97 0.00 0.00
B-5 996,000.00 2.62335% 996,000.00 2,177.38 0.00 0.00
B-6 2,323,950.00 2.62335% 2,323,950.00 5,080.45 0.00 0.00
A-R 100.00 2.62120% 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------
Totals 663,942,050.00 1,427,628.01 0.00 0.00
- -----------------------------------------------------------------------------------------------
Non- Remaining Ending
Supported Unpaid Certificate/
Interest Realized Total Interest Interest Notational
Class Shortfall Loss (4) Distribution Shortfall Balance
- ----------------------------------------------------------------------------
A-1 0.00 0.00 547,728.63 0.00 442,787,398.59
X-1 0.00 0.00 395,145.56 0.00 570,924,121.28
A-2 0.00 0.00 229,117.62 0.00 176,037,864.88
X-2 0.00 0.00 200,487.66 0.00 618,825,263.47
B-1 0.00 0.00 16,260.33 0.00 11,287,000.00
X-B 0.00 0.00 8,416.89 0.00 11,287,000.00
B-2 0.00 0.00 12,336.30 0.00 5,643,000.00
B-3 0.00 0.00 7,257.94 0.00 3,320,000.00
B-4 0.00 0.00 3,628.97 0.00 1,660,000.00
B-5 0.00 0.00 2,177.38 0.00 996,000.00
B-6 0.00 0.00 5,080.45 0.00 2,323,950.00
A-R 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------
Totals 0.00 0.00 1,427,637.73 0.00
- ----------------------------------------------------------------------------
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.
INTEREST DISTRIBUTION FACTORS STATEMENT
Payment of
Current Beginning Unpaid Current
Original Face Certificate Certificate/ Current Accrued Interest Interest
Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall
- ---------------------------------------------------------------------------------------------------
A-1 458,238,000.00 1.45875% 983.27437233 1.19529290 0.00000000 0.00000000
X-1 0.00 0.80000% 927.98315375 0.61865543 0.00000000 0.00000000
A-2 180,474,000.00 1.55125% 982.07192416 1.26953256 0.00000000 0.00000000
X-2 0.00 0.38320% 982.93460945 0.31388682 0.00000000 0.00000000
B-1 11,287,000.00 1.72875% 1000.00000000 1.44062461 0.00000000 0.00000000
X-B 0.00 0.89460% 1000.00000000 0.74550013 0.00000000 0.00000000
B-2 5,643,000.00 2.62335% 1000.00000000 2.18612440 0.00000000 0.00000000
B-3 3,320,000.00 2.62335% 1000.00000000 2.18612651 0.00000000 0.00000000
B-4 1,660,000.00 2.62335% 1000.00000000 2.18612651 0.00000000 0.00000000
B-5 996,000.00 2.62335% 1000.00000000 2.18612450 0.00000000 0.00000000
B-6 2,323,950.00 2.62335% 1000.00000000 2.18612707 0.00000000 0.00000000
A-R 100.00 2.62120% 0.00000000 0.00000000 0.00000000 0.00000000
- ---------------------------------------------------------------------------------------------------
Non- Remaining
Supported Unpaid
Interest Realized Total Interest Interest Ending Certificate/
Class (5) Shortfall Loss (6) Distribution Shortfall Notational Balance
- ----------------------------------------------------------------------------------
A-1 0.00000000 0.00000000 1.19529290 0.00000000 966.28258370
X-1 0.00000000 0.00000000 0.61865999 0.00000000 893.86784855
A-2 0.00000000 0.00000000 1.26953256 0.00000000 975.41953345
X-2 0.00000000 0.00000000 0.31389368 0.00000000 968.86431360
B-1 0.00000000 0.00000000 1.44062461 0.00000000 1000.00000000
X-B 0.00000000 0.00000000 0.74571542 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 2.18612440 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 2.18612651 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 2.18612651 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 2.18612450 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 2.18612707 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
- -------------------------------------------------------------------------------
(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 10,597,033.27
Liquidations, Insurance Proceeds, Reserve Funds 9.72
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 18,807.95
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 10,615,850.94
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 201,346.41
Payment of Interest and Principal 10,414,504.53
-------------
Total Withdrawals (Pool Distribution Amount) 10,615,850.94
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 191,934.55
Master Servicing Fee 9,411.86
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 201,346.41
==========
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- -------------------------------------------------------------------------------------
Class A-1 Companion Sub Account 4,000.00 3.89 3.89 4,000.00
Class A-1 NAS Sub Account 1,000.00 0.97 0.97 1,000.00
Class A-2 Companion Sub Account 500.00 0.49 0.49 500.00
Class A-2 NAS Sub Account 2,000.00 1.94 1.94 2,000.00
Class B-1 Sub Account 2,500.00 2.43 2.43 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 18 7,649,994.53 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 87,500.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 1 100,000.00 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 1 167,341.10 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
--------- ------------ --------- --------- --------- ---------
21 8,004,835.63 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 0.966702% 1.187800% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.053706% 0.013586% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.053706% 0.015527% 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 0.053706% 0.025983% 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%
-------- -------- -------- -------- -------- --------
1.127820% 1.242896% 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 18 7,649,994.53
60 Days 0 0.00 60 Days 1 87,500.00
90 Days 0 0.00 90 Days 1 100,000.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 1 167,341.10
180+ Days 0 0.00 180+ Days 0 0.00
-------- --------- --------- ------------
0 0.00 21 8,004,835.63
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 0.966702% 1.187800%
60 Days 0.000000% 0.000000% 60 Days 0.053706% 0.013586%
90 Days 0.000000% 0.000000% 90 Days 0.053706% 0.015527%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.053706% 0.025983%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- -------- -------- ---------
0.000000% 0.000000% 1.127820% 1.242896%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 18,807.95
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT
PERCENTAGE
Original $ Original% Current $ Current % Current Class % Prepayment %
- ----------------------------------------------------------------------------------------------------------------------------------
Class A 25,229,950.00 3.80002806% 25,229,950.00 3.91735824% 96.082642% 0.000000%
Class X-1 25,229,950.00 3.80002806% 25,229,950.00 3.91735824% 0.000000% 0.000000%
Class X-2 25,229,950.00 3.80002806% 25,229,950.00 3.91735824% 0.000000% 0.000000%
Class B-1 13,942,950.00 2.10002799% 13,942,950.00 2.16486874% 1.752490% 44.736514%
Class B-2 8,299,950.00 1.25010327% 8,299,950.00 1.28870162% 0.876167% 22.366275%
Class B-3 4,979,950.00 0.75005895% 4,979,950.00 0.77321787% 0.515484% 13.158964%
Class B-4 3,319,950.00 0.50003679% 3,319,950.00 0.51547599% 0.257742% 6.579482%
Class B-5 2,323,950.00 0.35002349% 2,323,950.00 0.36083087% 0.154645% 3.947689%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.360831% 9.211077%
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
ELINQUENT BANKRUPTCY FORECLOSURE
- -------------------------------------------------------------------------------------------------------
POOL 1 - 1 MONTH
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%
DELINQUENT BANKRUPTCY FORECLOSURE
- ---------------------------------------------------------------------------------------------------------------
POOL 1 - 6 MONTH
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 13 4,771,479.63 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 87,500.00 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
---------- ------------ -------- -------- -------- --------
14 4,858,979.63 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 1.125541% 1.220375% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.086580% 0.022379% 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%
-------- -------- -------- -------- -------- --------
1.212121% 1.242754% 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 13 4,771,479.63
60 Days 0 0.00 60 Days 1 87,500.00
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 14 4,858,979.63
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 1.125541% 1.220375%
60 Days 0.000000% 0.000000% 60 Days 0.086580% 0.022379%
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% 1.212121% 1.242754%
- ------------------------------------------------------------------
DELINQUENT BANKRUPTCY FORECLOSURE
- ---------------------------------------------------------------------------------------------------------------
POOL 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 2,878,514.90 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 1 100,000.00 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 1 167,341.10 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
-------- ------------ -------- -------- -------- --------
7 3,145,856.00 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 0.943396% 1.571549% 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 0.188679% 0.054596% 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 0.188679% 0.091361% 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%
--------- -------- -------- -------- -------- --------
1.320755% 1.717506% 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 5 2,878,514.90
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 1 100,000.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 1 167,341.10
180+ Days 0 0.00 180+ Days 0 0.00
--------- --------- --------- ------------
0 0.00 7 3,145,856.00
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 0.943396% 1.571549%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.188679% 0.054596%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.188679% 0.091361%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- -------- -------- ---------
0.000000% 0.000000% 1.320755% 1.717506%
- ------------------------------------------------------------------
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 2.993328%
Weighted Average Net Coupon 2.640638%
Weighted Average Pass-Through Rate 2.623343%
Weighted Average Maturity (Stepdown Calculation) 326
Beginning Scheduled Collateral Loan Count 1,879
Number of Loans Paid in Full 17
Ending Scheduled Collateral Loan Count 1,862
Beginning Scheduled Collateral Balance 653,042,080.46
Ending Scheduled Collateral Balance 644,055,213.66
Ending Actual Collateral Balance at 31-Dec-2003 644,047,117.17
Monthly P&I Constant 1,629,667.81
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 10,359,338.99
Ending Scheduled Balance for Premium Loans 644,055,213.66
Scheduled Principal 693.41
Unscheduled Principal 8,986,173.39
GROUP POOL 1 - 1 MONTH POOL 1 - 6 MONTH POOL 2 TOTAL
Collateral Description 1 Month LIBOR ARM 6 Month LIBOR ARM 6 Month LIBOR ARM Mixed ARM
Weighted Average Coupon Rate 2.857631 3.009884 3.009255 2.993328
Weighted Average Net Rate 2.516264 2.656171 2.654462 2.640638
Pass-Through Rate 2.496086 2.636009 2.644462 2.623343
Weighted Average Maturity 311 327 332 326
Record Date 12/31/2003 12/31/2003 12/31/2003 12/31/2003
Principal and Interest Constant 167,366.83 999,823.42 462,477.56 1,629,667.81
Beginning Loan Count 178 1,167 534 1,879
Loans Paid in Full 1 12 4 17
Ending Loan Count 177 1,155 530 1,862
Beginning Scheduled Balance 70,248,906.79 398,425,839.90 184,367,333.77 653,042,080.46
Ending Scheduled Balance 68,899,430.93 390,989,032.52 183,166,750.21 644,055,213.66
Scheduled Principal 78.93 477.14 137.34 693.41
Unscheduled Principal 349,396.93 7,436,330.24 1,200,446.22 8,986,173.39
Scheduled Interest 167,287.90 999,346.28 462,340.22 1,628,974.40
Servicing Fee 19,983.93 117,440.41 54,510.21 191,934.55
Master Servicing Fee 1,181.20 6,694.26 1,536.40 9,411.86
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 146,122.77 875,211.61 406,293.61 1,427,627.99
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
MISCELLANEOUS REPORTING
Group Pool 1 - 1 Month
1 Month LIBOR Loan Balance 69,899,430.93
6 Month LIBOR Loan Balance 390,989,032.52
Interest Transfer Amount 0.00
Principal Transfer Amount 0.00
Pro-Rata Pct 96.137819%
Senior Pct 100.000000%
Senior Prepay Pct 100.000000%
Subordinate Pct 0.000000%
Subordinate Prepay Pct 0.000000%
Group 1 - 6 Month
6 Month LIBOR Loan Balance 183,166,750.21
Interest Transfer Amount 0.00
Principal Transfer Amount 0.00
Pro-Rata Pct 96.133325%
Senior Pct 100.000000%
Senior Prepay Pct 100.000000%
Subordinate Pct 0.000000%
Subordinate Prepay Pct 0.000000%