EXHIBIT 10.1
CONTACT: CUSTOMER SERVICES -- CTSLINK
WELLS FARGO BANK MINNESOTA, N.A.
SECURITIES ADMINISTRATION SERVICES
7485 NEW HORIZON WAY
FREDERICK, MD 21703
WWW.CTSLINK.COM
TELEPHONE: (301) 815-6600
FAX: (301) 315-6660
SMT SERIES 2003-3
RECORD DATE: 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
- --------------------------------------------------------------------------------------------
A-1 81743PAT3 SEN 1.43000% 352,637,266.17 420,226.08
A-2 81743PAU0 SEN 1.57000% 139,434,908.61 182,427.34
X-1A 81743PAV8 IO 0.95251% 0.00 76,857.68
X-1B 81743PAW6 IO 1.21929% 0.00 259,922.09
X-2 81743PAX4 IO 1.06807% 0.00 124,105.19
X-B 81743PAY2 IO 0.84361% 0.00 6,379.78
A-R 81743PBA3 R 2.42054% 0.00 0.00
B-1 81743PBB1 SUB 1.75000% 9,075,000.00 13,234.37
B-2 81743PBC9 SUB 2.59361% 4,675,000.00 10,104.26
B-3 81743PBD7 SUB 2.59361% 2,475,000.00 5,349.31
B-4 81743PBE5 SUB 2.59361% 1,650,000.00 3,566.21
B-5 81743PBF2 SUB 2.59361% 825,000.00 1,783.10
B-6 81743PBG0 SUB 2.59361% 1,925,608.17 4,161.89
- -------------------------------------------------------------------------------------------
Totals 512,697,782.95 1,108,117.30
- -------------------------------------------------------------------------------------------
Principal Current Ending Certificate Total Cumulative
Class CUSIP Distribution Realized Loss Balance Distribution Realized Loss
- -------------------------------------------------------------------------------------------------------------------
A-1 81743PAT3 2,037,221.21 0.00 350,600,044.96 2,457,447.29 0.00
A-2 81743PAU0 543,338.13 0.00 138,891,570.48 725,765.47 0.00
X-1A 81743PAV8 0.00 0.00 0.00 76,857.68 0.00
X-1B 81743PAW6 0.00 0.00 0.00 259,922.09 0.00
X-2 81743PAX4 0.00 0.00 0.00 124,105.19 0.00
X-B 81743PAY2 0.00 0.00 0.00 6,379.78 0.00
A-R 81743PBA3 0.00 0.00 0.00 0.00 0.00
B-1 81743PBB1 0.00 0.00 9,075,000.00 13,234.37 0.00
B-2 81743PBC9 0.00 0.00 4,675,000.00 10,104.26 0.00
B-3 81743PBD7 0.00 0.00 2,475,000.00 5,349.31 0.00
B-4 81743PBE5 0.00 0.00 1,650,000.00 3,566.21 0.00
B-5 81743PBF2 0.00 0.00 825,000.00 1,783.10 0.00
B-6 81743PBG0 0.00 0.00 1,925,608.17 4,161.89 0.00
- ---------------------------------------------------------------------------------------------------------------
Totals 2,580,559.34 0.00 510,117,223.61 3,688,676.64 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-1 379,455,000.00 352,637,266.17 0.00 2,037,221.21 0.00 0.00
A-2 149,922,000.00 139,434,908.61 0.00 543,338.13 0.00 0.00
X-1A 0.00 0.00 0.00 0.00 0.00 0.00
X-1B 0.00 0.00 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00 0.00 0.00
X-B 0.00 0.00 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
B-1 9,075,000.00 9,075,000.00 0.00 0.00 0.00 0.00
B-2 4,675,000.00 4,675,000.00 0.00 0.00 0.00 0.00
B-3 2,475,000.00 2,475,000.00 0.00 0.00 0.00 0.00
B-4 1,650,000.00 1,650,000.00 0.00 0.00 0.00 0.00
B-5 825,000.00 825,000.00 0.00 0.00 0.00 0.00
B-6 1,925,608.17 1,925,608.17 0.00 0.00 0.00 0.00
-------------- -------------- ---- ------------ ---- ----
Totals 550,002,708.17 512,697,782.95 0.00 2,580,559.34 0.00 0.00
-------------- -------------- ---- ------------ ---- ----
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ---------------------------------------------------------------------------------
A-1 2,037,221.21 350,600,044.96 0.92395685 2,037,221.21
A-2 543,338.13 138,891,570.48 0.92642554 543,338.13
X-1A 0.00 0.00 0.00000000 0.00
X-1B 0.00 0.00 0.00000000 0.00
X-2 0.00 0.00 0.00000000 0.00
X-B 0.00 0.00 0.00000000 0.00
A-R 0.00 0.00 0.00000000 0.00
B-1 0.00 9,075,000.00 1.00000000 0.00
B-2 0.00 4,675,000.00 1.00000000 0.00
B-3 0.00 2,475,000.00 1.00000000 0.00
B-4 0.00 1,650,000.00 1.00000000 0.00
B-5 0.00 825,000.00 1.00000000 0.00
B-6 0.00 1,925,608.17 1.00000000 0.00
------------ -------------- ---------- ------------
Totals 2,580,559.34 510,117,223.61 0.92748129 2,580,559.34
------------ -------------- ---------- ------------
(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-1 379,455,000.00 929.32565435 0.00000000 5.36880845 0.00000000 0.00000000
A-2 149,922,000.00 930.04968324 0.00000000 3.62413875 0.00000000 0.00000000
X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 9,075,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 4,675,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 2,475,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 1,650,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 825,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 1,925,608.17 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- -------------------------------------------------------------------------------
A-1 5.36880845 923.95684590 0.92395685 5.36880845
A-2 3.62413875 926.42554448 0.92642554 3.62413875
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
- ----------------------------------------------------------------------------------------------
A-1 379,455,000.00 1.43000% 352,637,266.17 420,226.08 0.00 0.00
A-2 149,922,000.00 1.57000% 139,434,908.61 182,427.34 0.00 0.00
X-1A 0.00 0.95251% 96,827,908.54 76,857.68 0.00 0.00
X-1B 0.00 1.21929% 255,809,357.63 259,922.09 0.00 0.00
X-2 0.00 1.06807% 139,434,908.61 124,105.19 0.00 0.00
X-B 0.00 0.84361% 9,075,000.00 6,379.78 0.00 0.00
A-R 100.00 2.42054% 0.00 0.00 0.00 0.00
B-1 9,075,000.00 1.75000% 9,075,000.00 13,234.38 0.00 0.00
B-2 4,675,000.00 2.59361% 4,675,000.00 10,104.26 0.00 0.00
B-3 2,475,000.00 2.59361% 2,475,000.00 5,349.31 0.00 0.00
B-4 1,650,000.00 2.59361% 1,650,000.00 3,566.21 0.00 0.00
B-5 825,000.00 2.59361% 825,000.00 1,783.10 0.00 0.00
B-6 1,925,608.17 2.59361% 1,925,608.17 4,161.89 0.00 0.00
- ----------------------------------------------------------------------------------------------
Totals 550,002,708.17 1,108,117.31 0.00 0.00
- ----------------------------------------------------------------------------------------------
Non-
Supported Remaining Ending
Interest Unpaid Certificate/
Shortfall Realized Total Interest Interest Notational
Class Loss (4) Distribution Shortfall Balance
- ------------------------------------------------------------------------
A-1 0.00 0.00 420,226.08 0.00 350,600,044.96
A-2 0.00 0.00 182,427.34 0.00 138,891,570.48
X-1A 0.00 0.00 76,857.68 0.00 96,500,415.41
X-1B 0.00 0.00 259,922.09 0.00 254,099,629.55
X-2 0.00 0.00 124,105.19 0.00 138,891,570.48
X-B 0.00 0.00 6,379.78 0.00 9,075,000.00
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 13,234.37 0.00 9,075,000.00
B-2 0.00 0.00 10,104.26 0.00 4,675,000.00
B-3 0.00 0.00 5,349.31 0.00 2,475,000.00
B-4 0.00 0.00 3,566.21 0.00 1,650,000.00
B-5 0.00 0.00 1,783.10 0.00 825,000.00
B-6 0.00 0.00 4,161.89 0.00 1,925,608.17
- ------------------------------------------------------------------------
Totals 0.00 0.00 1,108,117.30 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
- ------------------------------------------------------------------------------------
A-1 379,455,000.00 1.43000% 929.32565435 1.10744642 0.00000000
A-2 149,922,000.00 1.57000% 930.04968324 1.21681501 0.00000000
X-1A 0.00 0.95251% 960.29313272 0.76223791 0.00000000
X-1B 0.00 1.21929% 918.11876694 0.93287967 0.00000000
X-2 0.00 1.06807% 930.04968324 0.82779839 0.00000000
X-B 0.00 0.84361% 1000.00000000 0.70300606 0.00000000
A-R 100.00 2.42054% 0.00000000 0.00000000 0.00000000
B-1 9,075,000.00 1.75000% 1000.00000000 1.45833388 0.00000000
B-2 4,675,000.00 2.59361% 1000.00000000 2.16133904 0.00000000
B-3 2,475,000.00 2.59361% 1000.00000000 2.16133737 0.00000000
B-4 1,650,000.00 2.59361% 1000.00000000 2.16133939 0.00000000
B-5 825,000.00 2.59361% 1000.00000000 2.16133333 0.00000000
B-6 1,925,608.17 2.59361% 1000.00000000 2.16133794 0.00000000
Non-
Supported Remaining Ending
Current Interest Unpaid Certificate/
Class Interest Shortfall Realized Total Interest Interest Notational
(5) Shortfall Loss (6) Distribution Shortfall Balance
- ---------------------------------------------------------------------------------------
A-1 0.00000000 0.00000000 0.00000000 1.10744642 0.00000000 923.95684590
A-2 0.00000000 0.00000000 0.00000000 1.21681501 0.00000000 926.42554448
X-1A 0.00000000 0.00000000 0.00000000 0.76223791 0.00000000 957.04521165
X-1B 0.00000000 0.00000000 0.00000000 0.93287967 0.00000000 911.98242599
X-2 0.00000000 0.00000000 0.00000000 0.82779839 0.00000000 926.42554448
X-B 0.00000000 0.00000000 0.00000000 0.70300606 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 1.45833278 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 0.00000000 2.16133904 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 0.00000000 2.16133737 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 0.00000000 2.16133939 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 0.00000000 2.16133333 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 0.00000000 2.16133794 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 3,856,381.15
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 5,266.76
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
------------
Total Deposits 3,861,647.91
Withdrawals
Reimbursement for Servicer Advances 8,158.18
Payment of Service Fee 164,813.08
Payment of Interest and Principal 3,688,676.65
------------
Total Withdrawals (Pool Distribution Amount) 3,861,647.91
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 160,540.60
Master Servicing Fee 4,272.48
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 164,813.08
==========
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- ---------------------------------------------------------
Reserve Fund 5,000.00 0.00 0.00 5,000.00
Reserve Fund 2,500.00 0.00 0.00 2,500.00
Reserve Fund 2,500.00 0.00 0.00 2,500.00
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 7 1,457,046.71 30 Days 0 0.00 30 Days 0 0.00
60 Days 2 522,000.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 1 332,848.86 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
----------------------- -------------------- ---------------------
10 2,311,895.57 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 0.463576% 0.285629% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.132450% 0.102329% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.066225% 0.065249% 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%
--------- ------------ --------- --------- --------- ----------
0.662252% 0.453208% 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 7 1,457,046.71
60 Days 0 0.00 60 Days 2 522,000.00
90 Days 0 0.00 90 Days 1 332,848.86
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 10 2,311,895.57
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 0.463576% 0.285629%
60 Days 0.000000% 0.000000% 60 Days 0.132450% 0.102329%
90 Days 0.000000% 0.000000% 90 Days 0.066225% 0.065249%
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% 0.662252% 0.453208%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5,266.76
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original % Current $ Current % Current Class % Prepayment %
------------- ----------- ------------- ----------- --------------- ------------
Class A 20,625,608.17 3.75009211% 20,625,608.17 4.04330754% 95.956692% 0.000000%
Class X-1-A 20,625,608.17 3.75009211% 20,625,608.17 4.04330754% 0.000000% 0.000000%
Class X-1-B 20,625,608.17 3.75009211% 20,625,608.17 4.04330754% 0.000000% 0.000000%
Class X-2 20,625,608.17 3.75009211% 20,625,608.17 4.04330754% 0.000000% 0.000000%
Class B-1 11,550,608.17 2.10010024% 11,550,608.17 2.26430468% 1.779003% 43.998703%
Class B-2 6,875,608.17 1.25010442% 6,875,608.17 1.34784866% 0.916456% 22.665998%
Class B-3 4,400,608.17 0.80010664% 4,400,608.17 0.86266606% 0.485183% 11.999646%
Class B-4 2,750,608.17 0.50010811% 2,750,608.17 0.53921100% 0.323455% 7.999764%
Class B-5 1,925,608.17 0.35010885% 1,925,608.00 0.37748346% 0.161728% 3.999882%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.377483% 9.336007%
Please refer to the prospectus supplement for a full description of loss
exposure
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 5 880,151.71 30 Days 0 0.00 30 Days 0 0.00
60 Days 2 522,000.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 1 332,848.86 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
---------------------- -------------------- ----------------
8 1,735,000.57 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 0.466853% 0.240883% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.186741% 0.142863% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.093371% 0.091095% 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%
----------------------- ----------------------- ---------------------
0.746965% 0.474842% 0.000000% 0.000000% 0.000000% 0.000000%
GROUP 1
- ----------------------------------------------------------------------
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 5 880,151.71
60 Days 0 0.00 60 Days 2 522,000.00
90 Days 0 0.00 90 Days 1 332,848.86
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
-------------------- -----------------------
0 0.00 8 1,735,000.57
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 0.466853% 0.240883%
60 Days 0.000000% 0.000000% 60 Days 0.186741% 0.142863%
90 Days 0.000000% 0.000000% 90 Days 0.093371% 0.091095%
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% 0.746965% 0.474842%
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 2 576,895.00 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
-------------------- --------------------- -------------------
2 576,895.00 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 0.455581% 0.398591% 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%
--------------------- ---------------------- --------------------
0.455581% 0.398591% 0.000000% 0.000000% 0.000000% 0.000000%
GROUP 2
- --------------------------------------------------------------------
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 2 576,895.00
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 2 576,895.00
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 0.455581% 0.398591%
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% 0.455581% 0.398591%
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 2.979370%
Weighted Average Net Coupon 2.603615%
Weighted Average Pass-Through Rate 2.593615%
Weighted Average Maturity (Stepdown Calculation) 350
Beginning Scheduled Collateral Loan Count 1,517
Number of Loans Paid in Full 7
Ending Scheduled Collateral Loan Count 1,510
Beginning Scheduled Collateral Balance 512,697,782.95
Ending Scheduled Collateral Balance 510,117,223.61
Ending Actual Collateral Balance at 30-Jan-2004 510,118,406.58
Monthly P&I Constant 1,272,930.39
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 3,644,097.71
Ending Scheduled Balance for Premium Loans 510,117,223.61
Scheduled Principal 0.00
Unscheduled Principal 2,580,559.34
MISCELLANEOUS REPORTING
Group 1 One Month Libor Loan Balance 100,569,586.35
Group 1 Six Month Libor Loan Balance 264,814,348.48
Group 2 Six Month Libor Loan Balance 144,733,288.78
Pro-Rata Senior Percent 95.977044%
Group 1 Senior Percent 100.000000%
Group 2 Senior Percent 100.000000%
Group 1 Senior Prepayment Percent 100.000000%
Group 2 Senior Prepayment Percent 100.000000%
GROUP 1 2 TOTAL
Collateral Description Mixed ARM Mixed ARM Mixed ARM
Weighted Average Coupon Rate 2.962091 3.023070 2.979370
Weighted Average Net Rate 2.586038 2.648070 2.603615
Pass-Through Rate 2.576038 2.638070 2.593615
Weighted Average Maturity 325 329 350
Record Date 01/30/2004 01/30/2004 01/30/2004
Principal and Interest Constant 906,945.89 365,984.50 1,272,930.39
Beginning Loan Count 1,077 440 1,517
Loans Paid in Full 6 1 7
Ending Loan Count 1,071 439 1,510
Beginning Scheduled Balance 367,421,156.04 145,276,626.91 512,697,782.95
Ending Scheduled Balance 365,383,934.83 144,733,288.78 510,117,223.61
Scheduled Principal 0.00 0.00 0.00
Unscheduled Principal 2,037,221.21 543,338.13 2,580,559.34
Scheduled Interest 906,945.89 365,984.50 1,272,930.39
Servicing Fee 115,141.65 45,398.95 160,540.60
Master Servicing Fee 3,061.84 1,210.64 4,272.48
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 788,742.40 319,374.91 1,108,117.31
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