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 2002-8
RECORD DATE: JANUARY 30, 2004
DISTRIBUTION DATE: FEBRUARY 20, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning
Class Certificate Pass- Certificate Interest
Class CUSIP Description Through Rate Balance Distribution
- ----------------------------------------------------------------------------------------------
1-A1 81743RAA0 SEN 1.23000% 0.00 0.00
1-A2 81743RAB8 SEN 3.45500% 29,863,309.27 85,981.44
2A 81743RAC6 SEN 1.40000% 377,318,674.13 440,205.12
3A 81743RAD4 SEN 2.97517% 36,432,851.66 90,328.37
X-1 81743RAE2 IO 1.77190% 0.00 44,095.65
X-2A 81743RAFf9 IO 1.04171% 0.00 135,353.25
X-2B 81743AFG7 IO 1.16625% 0.00 215,170.63
X-B 81743RAH5 IO 1.26082% 0.00 9,528.63
A-R 81743RAJ1 SEN 5.37281% 0.00 0.00
B-1 81743RAK8 SUB 1.77500% 9,069,000.00 13,414.56
B-2 81743RAL6 SUB 3.03582% 5,505,000.00 13,926.81
B-3 81743RAM4 SUB 3.03582% 3,886,000.00 9,830.99
B-4 SMT0208B4 SUB 3.03582% 1,618,000.00 4,093.29
B-5 SMT0208B5 SUB 2.03582% 970,000.00 2,453.95
B-6 SMT0208B6 SUB 2.03582% 2,306,324.82 5,834.65
- ----------------------------------------------------------------------------------------------
Totals 466,969,159.88 1,070,217.34
Ending
Principal Current Certificate Total Cumulative
Class CUSIP Distribution Realized Loss Balance Distribution Realized Loss
- -----------------------------------------------------------------------------------------------------------
1-A1 81743RAA0 0.00 0.00 0.00 0.00 0.00
1-A2 81743RAB8 1,320,140.22 0.00 28,543,169.05 1,406,121.66 0.00
2A 81743RAC6 3,178,210.48 0.00 374,140,463.65 3,618,415.60 0.00
3A 81743RAD4 820,237.03 0.00 35,612,614.63 910,565.40 0.00
X-1 81743RAE2 0.00 0.00 0.00 44,095.65 0.00
X-2A 81743RAFf9 0.00 0.00 0.00 135,353.25 0.00
X-2B 81743AFG7 0.00 0.00 0.00 215,170.63 0.00
X-B 81743RAH5 0.00 0.00 0.00 9,528.63 0.00
A-R 81743RAJ1 0.00 0.00 0.00 0.00 0.00
B-1 81743RAK8 0.00 0.00 9,069,000.00 13,414.56 0.00
B-2 81743RAL6 0.00 0.00 5,505,000.00 13,926.81 0.00
B-3 81743RAM4 0.00 0.00 3,886,000.00 9,830.99 0.00
B-4 SMT0208B4 0.00 0.00 1,618,000.00 4,093.29 0.00
B-5 SMT0208B5 0.00 0.00 970,000.00 2,453.95 0.00
B-6 SMT0208B6 0.00 0.00 2,306,324.82 5,834.65 0.00
- ------------------------------------------------------------------------------------------------------
Totals 5,318,587.73 0.00 461,650,572.15 6,388,805.07 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)
- ----------------------------------------------------------------------------------------------------------------
1-A1 50,000,000.00 0.00 0.00 0.00 0.00 0.00
1-A2 61,468,000.00 29,863,309.27 0.00 1,320,140.22 0.00 0.00
2A 463,097,000.00 377,318,674.13 718.96 3,177,491.52 0.00 0.00
3A 49,973,000.00 36,432,851.66 0.00 820,237.03 0.00 0.00
X-1 0.00 0.00 0.00 0.00 0.00 0.00
X-2A 0.00 0.00 0.00 0.00 0.00 0.00
X-2B 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 9,069,000.00 9,069,000.00 0.00 0.00 0.00 0.00
B-2 5,505,000.00 5,505,000.00 0.00 0.00 0.00 0.00
B-3 3,886,000.00 3,886,000.00 0.00 0.00 0.00 0.00
B-4 1,618,000.00 1,618,000.00 0.00 0.00 0.00 0.00
B-5 970,000.00 970,000.00 0.00 0.00 0.00 0.00
B-6 2,306,324.82 2,306,324.82 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------
Totals 647,892,424.82 466,969,159.88 718.96 5,317,868.77 0.00 0.00
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ---------------------------------------------------------------------------------------------
1-A1 0.00 0.00 0.00000000 0.00
1-A2 1,320,140.22 28,543,169.05 0.46435819 1,320,140.22
2A 3,178,210.48 374,140,463.65 0.80790950 3,178,210.48
3A 820,237.03 35,612,614.63 0.71263712 820,237.03
X-1 0.00 0.00 0.00000000 0.00
X-2A 0.00 0.00 0.00000000 0.00
X-2B 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 9,069,000.00 1.00000000 0.00
B-2 0.00 5,505,000.00 1.00000000 0.00
B-3 0.00 3,886,000.00 1.00000000 0.00
B-4 0.00 1,618,000.00 1.00000000 0.00
B-5 0.00 970,000.00 1.00000000 0.00
B-6 0.00 2,306,324.82 1.00000000 0.00
- ----------------------------------------------------------------------------------------------
Totals 5,318,587.73 461,650,572.15 0.71254201 5,318,587.73
(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)
- -------------------------------------------------------------------------------------------------------------------
1-A1 50,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A2 61,468,000.00 485.83505678 0.00000000 21.47686959 0.00000000 0.00000000
2A 463,097,000.00 814.77244320 0.00155250 6.86139517 0.00000000 0.00000000
3A 49,973,000.00 729.05072059 0.00000000 16.41360395 0.00000000 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2B 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 9,069,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 5,505,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 3,886,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 1,618,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 970,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 2,306,324.82 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- -------------------------------------------------------------------------------------------
1-A1 0.00000000 0.00000000 0.00000000 0.00000000
1-A2 21.47686959 464.35818719 0.46435819 21.47686959
2A 6.86294768 807.90949553 0.80790950 6.86294768
3A 16.41360395 712.63711664 0.71263712 16.41360395
X-1 0.00000000 0.00000000 0.00000000 0.00000000
X-2A 0.00000000 0.00000000 0.00000000 0.00000000
X-2B 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
Original Face Current Notional Accrued Interest
Class Amount Certificate Rate Balance Interest Shortfall
- ----------------------------------------------------------------------------------
1-A1 50,000,000.00 1.23000% 0.00 0.00 0.00
1-A2 61,468,000.00 3.45500% 29,863,309.27 85,981.44 0.00
2A 463,097,000.00 1.40000% 377,318,674.13 440,205.12 0.00
3A 49,973,000.00 2.97517% 36,432,851.66 90,328.37 0.00
X-1 0.00 1.77190% 29,863,309.27 44,095.65 0.00
X-2A 0.00 1.04171% 155,920,336.73 135,353.25 0.00
X-2B 0.00 1.16625% 221,398,337.40 215,170.64 0.00
X-B 0.00 1.26082% 9,069,000.00 9,528.63 0.00
A-R 100.00 5.37281% 0.00 0.00 0.00
B-1 9,069,000.00 1.77500% 9,069,000.00 13,414.56 0.00
B-2 5,505,000.00 3.03582% 5,505,000.00 13,926.81 0.00
B-3 3,886,000.00 3.03582% 3,886,000.00 9,830.99 0.00
B-4 1,618,000.00 3.03582% 1,618,000.00 4,093.29 0.00
B-5 970,000.00 3.03582% 970,000.00 2,453.95 0.00
B-6 2,306,324.82 3.03582% 2,306,324.82 5,834.65 0.00
- ---------------------------------------------------------------------------------
Totals 647,892,424.82 1,070,217.35 0.00
Non- Remaining Ending
Current Supported Unpaid Certificate/
Interest Interest Realize Total Interest Interest Notational
Class Shortfall Shortfall Loss(4) Distribution Shortfall Balance
- -------------------------------------------------------------------------------
1-A1 0.00 0.00 0.00 0.00 0.00 0.00
1-A2 0.00 0.00 0.00 85,981.44 0.00 28,543,169.05
2A 0.00 0.00 0.00 440,205.12 0.00 374,140,463.65
3A 0.00 0.00 0.00 90,328.37 0.00 35,612,614.63
X-1 0.00 0.00 0.00 44,095.65 0.00 28,543,169.05
X-2A 0.00 0.00 0.00 135,353.25 0.00 154,300,346.81
X-2B 0.00 0.00 0.00 215,170.63 0.00 219,840,116.84
X-B 0.00 0.00 0.00 9,528.63 0.00 9,069,000.00
A-R 0.00 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 13,414.56 0.00 9,069,000.00
B-2 0.00 0.00 0.00 13,926.81 0.00 5,505,000.00
B-3 0.00 0.00 0.00 9,830.99 0.00 3,886,000.00
B-4 0.00 0.00 0.00 4,093.29 0.00 1,618,000.00
B-5 0.00 0.00 0.00 2,453.95 0.00 970,000.00
B-6 0.00 0.00 0.00 5,834.65 0.00 2,306,324.82
- -------------------------------------------------------------------------------
Totals 0.00 0.00 0.00 1,070,217.34 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
Class Original Face Certificate Certificate/ Current Accrued Interest
(5) Amount Rate Notional Balance Interest Shortfall
- -----------------------------------------------------------------------------------
1-A1 50,000,000.00 1.23000% 0.00000000 0.00000000 0.00000000
1-A2 61,468,000.00 3.45500% 485.83505678 1.39880003 0.00000000
2A 463,097,000.00 1.40000% 814.77244320 0.95056785 0.00000000
3A 49,973,000.00 2.97517% 729.05072059 1.80754347 0.00000000
X-1 0.00 1.77190% 267.90925889 0.39559021 0.00000000
X-2A 0.00 1.04171% 827.75758528 0.71857002 0.00000000
X-2B 0.00 1.16625% 805.86943792 0.78320120 0.00000000
X-B 0.00 1.26082% 1000.00000000 1.05068144 0.00000000
A-R 100.00 5.37281% 0.00000000 0.00000000 0.00000000
B-1 9,069,000.00 1.77500% 1000.00000000 1.47916639 0.00000000
B-2 5,505,000.00 3.03582% 1000.00000000 2.52984741 0.00000000
B-3 3,886,000.00 3.03582% 1000.00000000 2.52984817 0.00000000
B-4 1,618,000.00 3.03582% 1000.00000000 2.52984549 0.00000000
B-5 970,000.00 3.03582% 1000.00000000 2.52984536 0.00000000
B-6 2,306,324.82 3.03582% 1000.00000000 2.52984747 0.00000000
Non- Remaining
Current Supported Unpaid
Class Interest Interest Realized Total Interest Interest Ending Certificate/
(5) Shortfall Shortfall Loss (6) Distribution Shortfall Notational Balance
- --------------------------------------------------------------------------------------------
1-A1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A2 0.00000000 0.00000000 0.00000000 1.39880003 0.00000000 464.35818719
2A 0.00000000 0.00000000 0.00000000 0.95056785 0.00000000 807.90949553
3A 0.00000000 0.00000000 0.00000000 1.80754347 0.00000000 712.63711664
X-1 0.00000000 0.00000000 0.00000000 0.39559021 0.00000000 256.06603734
X-2A 0.00000000 0.00000000 0.00000000 0.71857002 0.00000000 819.15730277
X-2B 0.00000000 0.00000000 0.00000000 0.78320116 0.00000000 800.19765943
X-B 0.00000000 0.00000000 0.00000000 1.05068144 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 0.00000000 1.47916639 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 0.00000000 2.52984741 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 0.00000000 2.52984817 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 0.00000000 2.52984549 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 0.00000000 2.52984536 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 0.00000000 2.52984747 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 6,539,229.63
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 6,539,229.63
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 150,424.56
Payment of Interest and Principal 6,388,805.07
-------------
Total Withdrawals (Pool Distribution Amount) 6,539,229.63
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 146,922.30
Master Servicing Fee 3,502.26
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 150,424.56
==========
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- ---------------------------------------------------------------------------------
Class X-1 Basis Risk Reserve Fund 2,500.00 0.00 0.00 2,500.00
Class X-2 Basis Risk Reserve Fund 5,000.00 0.00 0.00 5,000.00
Class X-B Basis Risk Reserve Fund 2,500.00 0.00 0.00 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 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%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Original $ Original% Current $ Current % Current Class % Prepayment %
-------------- ------------ -------------- ------------- --------------- ------------
Class A 647,892,324.82 99.99998457% 461,650,572.15 100.00000000% 94.941125% 0.000000%
Class 1-A-1 597,892.324.82 92.28265402% 461,650,572.15 100.00000000% 0.000000% 0.000000%
Class 1-A-2 536,424,324.82 82.79527654% 433,107,403.10 93.81714856% 6.182851% 122.217916%
Class 2A 73,327,324.82 11.31782407% 58,966,939.45 12.77306756% 81.044081% 1,602.017898%
Class 3A 23,354,324.82 3.60466089% 23,354,324.82 5.05887488% 7.714193% 152.488307%
Class X-1 23,354,324.82 3.60466089% 23,354,324.82 5.05887488% 0.000000% 0.000000%
Class X-2-A 23,354,324.82 3.60466089% 23,354,324.82 5.05887488% 0.000000% 0.000000%
Class X-2-B 23,354,324.82 3.60466089% 23,354,324.82 5.05887488% 0.000000% 0.000000%
Class B-1 14,285,324.82 2.20489147% 14,285,324.82 3.09440206% 1.964473% 38.832208%
Class B-2 8,780,324.82 1.35521338% 8,780,324.82 1.90194172% 1.192460% 23.571651%
Class B-3 4,894,324.82 0.75542245% 4,894,324.82 1.06017952% 0.841762% 16.639316%
Class B-4 3,276,324.82 0.50568963% 3,276,324.82 0.70969799% 0.350482% 6.928053%
Class B-5 2,306,324.82 0.35597342% 2,306,324.82 0.49958236% 0.210116% 4.153406%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.499582% 9.875365%
Please refer to the prospectus supplement for a full description of loss
exposure
Original $ Original % Current $ Current %
Bankruptcy 126,045.00 0.01945462% 126,045.00 0.02730312%
Fraud 19,436,773.00 3.00000004% 10,357,716.80 2.24362698%
Special Hazard 15,500,000.00 2.39237247% 15,499,500.00 3.35740946%
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 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%
-------------------- --------------------
GROUP 2
DELINQUENT BANKRUPTCY FORECLOSURE
- -------------------------------------------------------------------------------------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
---------------------- --------------------- ------------------
0 0.00 0 0.00 0 0.00
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------------------- -------------------- --------------------
0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
--------------------- -------------------- --------------------
REO TOTAL
- ---------------------------------------------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--------------------- ------------------
0 0.00 0 0.00
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------------------- --------------------
0.000000% 0.000000% 0.000000% 0.000000%
-------------------- --------------------
Group 3
DELINQUENT BANKRUPTCY FORECLOSURE
- -------------------------------------------------------------------------------------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
----------------------- --------------------- --------------------
0 0.00 0 0.00 0 0.00
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------------------- -------------------- ---------------------
0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
--------------------- -------------------- ---------------------
REO TOTAL
- ----------------------------------------------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--------------------- --------------------
0 0.00 0 0.00
No. of Principal No. of Principal
Loans Balance Loans Balance
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------------------- ---------------------
0.000000% 0.000000% 0.000000% 0.000000%
-------------------- ---------------------
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 3.136752%
Weighted Average Net Coupon 2.759197%
Weighted Average Pass-Through Rate 2.750197%
Weighted Average Maturity (Stepdown Calculation) 313
Beginning Scheduled Collateral Loan Count 1,244
Number of Loans Paid in Full 14
Ending Scheduled Collateral Loan Count 1,230
Beginning Scheduled Collateral Balance 466,969,159.88
Ending Scheduled Collateral Balance 461,650,572.15
Ending Actual Collateral Balance at 30-Jan-2004 461,646,825.39
Monthly P&I Constant 1,221,357.77
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realization Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 6,329,722.20
Ending Scheduled Balance for Premium Loans 461,650,572.15
Scheduled Principal 718.96
Unscheduled Principal 5,317,868.77
MISCELLANEOUS REPORTING
One Month Libor Loan Balance 161,432,651.37
Six Month Libor Loan Balance - POOL 1 32,706,451.94
Six Month Libor Loan Balance - POOL 2 230,001,900.02
Six Month Libor Loan Balance - POOL 3 37,509,568.82
Pro Rata Senior Percent 94.998744%
Senior Percentage 100.000000%
Senior Prepay Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%
GROUP 1 2 3 TOTAL
Collateral Description Mixed ARM Mixed ARM Mixed ARM Mixed ARM
Weighted Average Coupon Rate 5.485899 2.912586 3.359173 3.136752
Weighted Average Net Rate 5.235899 2.523784 2.984173 2.759197
Pass-Through Rate 5.226899 2.514784 2.975173 2.750197
Weighted Average Maturity 337 304 341 313
Record Date 01/30/2004 01/30/2004 01/30/2004 01/30/2004
Principal and Interest Constant 155,555.38 958,505.34 107,297.05 1,221,357.77
Beginning Loan Count 70 1,058 116 1,244
Loans Paid in Full 3 9 2 14
Ending Loan Count 67 1,049 114 1,230
Beginning Scheduled Balance 34,026,592.16 394,612,761.87 38,329,805.85 466,969,159.88
Ending Scheduled Balance 32,706,451.94 391,434,551.39 37,509,568.82 461,650,572.15
Scheduled Principal 0.00 718.96 0.00 718.96
Unscheduled Principal 1,320,140.22 3,177,491.52 820,237.03 5,317,868.77
Scheduled Interest 155,555.38 957,786.38 107,297.05 1,220,638.81
Servicing Fee 7,088.87 127,855.37 11,978.06 146,922.30
Master Servicing Fee 255.20 2,959.59 287.47 3,502.26
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 148,211.31 826,971.42 95,031.52 1,070,214.25
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