Wells Fargo Bank Minnesota, N.A. SMT Series 2003-2 Certificateholder Distribution Summary (March 31, 2004 Record Date)

Contract Categories: Business Operations › Distribution Agreements
Summary

This document is a distribution summary for certificateholders of the SMT Series 2003-2, administered by Wells Fargo Bank Minnesota, N.A. It details the interest and principal payments made to holders of various classes of certificates as of March 31, 2004, with distributions occurring on April 20, 2004. The summary includes payment amounts, outstanding balances, realized losses (none reported), servicing fees, and loan status information. The report ensures transparency for investors regarding the performance and cash flows of the underlying mortgage-backed securities.

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EX-10.1 2 f98764dexv10w1.htm EXHIBIT 10.1 exv10w1  

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)  ###-###-####
  Fax: (301)  ###-###-####

SMT SERIES 2003-2
Record Date: March 31, 2004
Distribution Date: April 20, 2004

Certificateholder Distribution Summary

                                                                         
        Certificate           Beginning                        
        Class   Certificate Pass-   Certificate   Interest   Principal   Current   Ending Certificate   Total   Cumulative
Class
   CUSIP
   Description
   Through Rate
   Balance
   Distribution
   Distribution
   Realized Loss
   Balance
   Distribution
   Realized Loss
A-1
   81743PAP1   SEN     1.42000 %     449,547,243.65       531,964.24       8,425,054.20       0.00       441,122,189.45       8,957,018.44       0.00  
A-2
   81743PAQ9   SEN     1.54625 %     269,551,677.77       347,328.57       5,436,786.67       0.00       264,114,891.10       5,784,115.24       0.00  
M-1
   81743PAR7   SUB     1.74000 %     11,480,000.00       16,646.00       0.00       0.00       11,480,000.00       16,646.00       0.00  
M-2
   81743PAS5   SUB     2.52000 %     4,920,000.00       10,332.00       0.00       0.00       4,920,000.00       10,332.00       0.00  
X
   SMT03002X   IO     0.00000 %     0.00       719,747.81       0.00       0.00       0.00       719,747.81       0.00  
R
   SMT03002R   SUB     0.00000 %     0.00       0.00       0.00       0.00       0.00       0.00       0.00  
 
  
 		  
 		    
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		  
Totals
                     735,498,921.42       1,626,018.62       13,861,840.87       0.00       721,637,080.55       15,487,859.49       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   Ending Certificate   Total Principal
Class
   Amount
   Balance
   Distribution
   Distribution
   Accretion
   Loss (1)
   Reduction
   Balance
   Percentage
   Distribution
A-1
     500,000,000.00       449,547,243.65       0.00       8,425,054.20       0.00       0.00       8,425,054.20       441,122,189.45       0.88224438       8,425,054.20  
A-2
     303,600,000.00       269,551,677.77       0.00       5,436,786.67       0.00       0.00       5,436,786.67       264,114,891.10       0.86994365       5,436,786.67  
M-1
     11,480,000.00       11,480,000.00       0.00       0.00       0.00       0.00       0.00       11,480,000.00       1.00000000       0.00  
M-2
     4,920,000.00       4,920,000.00       0.00       0.00       0.00       0.00       0.00       4,920,000.00       1.00000000       0.00  
X
     0.00       0.00       0.00       0.00       0.00       0.00       0.00       0.00       0.00000000       0.00  
R
     0.00       0.00       0.00       0.00       0.00       0.00       0.00       0.00       0.00000000       0.00  
 
    
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		  
Totals
     820,000,000.00       735,498,921.42       0.00       13,861,840.87       0.00       0.00       13,861,840.87       721,637,080.55       0.88004522       13,861,840.87  
 
    
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		  

(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   Ending Certificate   Total Principal
Class
   Amount
   Balance
   Distribution
   Distribution
   Accretion
   Loss (1)
   Reduction
   Balance
   Percentage
   Distribution
A-1
     500,000,000.00       899.09448730       0.00000000       16.85010840       0.00000000       0.00000000       16.85010840       882.24437890       0.88224438       16.85010840  
A-2
     303,600,000.00       887.85137605       0.00000000       17.90772948       0.00000000       0.00000000       17.90772948       869.94364657       0.86994365       17.90772948  
M-1
     11,480,000.00       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       1000.00000000       1.00000000       0.00000000  
M-2
     4,920,000.00       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       1000.00000000       1.00000000       0.00000000  
X
     0.00       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
R
     0.00       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       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           Non-                   Remaining   Ending
                    Certificate/   Current   Unpaid   Current   Supported                   Unpaid   Certificate/
    Original Face   Current   Notional   Accrued   Interest   Interest   Interest   Realized   Total Interest   Interest   Notational
Class
   Amount
   Certificate Rate
   Balance
   Interest
   Shortfall
   Shortfall
   Shortfall
   Loss (4)
   Distribution
   Shortfall
   Balance
A-1
     500,000,000.00       1.42000 %     449,547,243.65       531,964.24       0.00       0.00       0.00       0.00       531,964.24       0.00       441,122,189.45  
A-2
     303,600,000.00       1.54625 %     269,551,677.77       347,328.57       0.00       0.00       0.00       0.00       347,328.57       0.00       264,114,891.10  
M-1
     11,480,000.00       1.74000 %     11,480,000.00       16,646.00       0.00       0.00       0.00       0.00       16,646.00       0.00       11,480,000.00  
M-2
     4,920,000.00       2.52000 %     4,920,000.00       10,332.00       0.00       0.00       0.00       0.00       10,332.00       0.00       4,920,000.00  
X
     0.00       0.00000 %     735,498,921.42       0.00       0.00       0.00       0.00       0.00       719,747.81       0.00       721,637,080.55  
R
     0.00       0.00000 %     0.00       0.00       0.00       0.00       0.00       0.00       0.00       0.00       0.00  
 
    
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		      
 		  
Totals
     820,000,000.00                       906,270.81       0.00       0.00       0.00       0.00       1,626,018.62       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-                   Remaining    
            Current   Beginning           Unpaid   Current   Supported                   Unpaid    
    Original Face   Certificate   Certificate/   Current Accrued   Interest   Interest   Interest   Realized   Total Interest   Interest   Ending Certificate/
Class (5)
   Amount
   Rate
   Notional Balance
   Interest
   Shortfall
   Shortfall
   Shortfall
   Loss (6)
   Distribution
   Shortfall
   Notational Balance
A-1
     500,000,000.00       1.42000 %     899.09448730       1.06392848       0.00000000       0.00000000       0.00000000       0.00000000       1.06392848       0.00000000       882.24437890  
A-2
     303,600,000.00       1.54625 %     887.85137605       1.14403350       0.00000000       0.00000000       0.00000000       0.00000000       1.14403350       0.00000000       869.94364657  
M-1
     11,480,000.00       1.74000 %     1000.00000000       1.45000000       0.00000000       0.00000000       0.00000000       0.00000000       1.45000000       0.00000000       1000.00000000  
M-2
     4,920,000.00       2.52000 %     1000.00000000       2.10000000       0.00000000       0.00000000       0.00000000       0.00000000       2.10000000       0.00000000       1000.00000000  
X
     0.00       0.00000 %     896.94990417       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       0.87774123       0.00000000       880 ###-###-####  
R
     0.00       0.00000 %     0.00000000       0.00000000       0.00000000       0.00000000       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
     15,727,857.81  
Liquidations, Insurance Proceeds, Reserve Funds
     0.00  
Proceeds from Repurchased Loans
     0.00  
Other Amounts (Servicer Advances)
     10,628.24  
Realized Losses
     0.00  
Prepayment Penalties
     0.00  
 
    
 		  
Total Deposits
     15,738,486.05  
Withdrawals
        
Reimbursement for Servicer Advances
     14,535.21  
Payment of Service Fee
     236,091.35  
Payment of Interest and Principal
     15,487,859.49  
 
    
 		  
Total Withdrawals (Pool Distribution Amount)
     15,738,486.05  
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
     231,788.96  
Master Servicing Fee
     4,302.39  
Supported Prepayment/Curtailment Interest Shortfall
     0.00  
 
    
 		  
Net Servicing Fee
     236,091.35  
 
    
 		  
                                 
    Beginning   Current   Current   Ending
Account Type
   Balance
   Withdrawals
   Deposits
   Balance
Reserve Fund
     10,000.00       0.00       0.00       10,000.00  

 

 

Loan Status Stratification/Credit Enhancement Statement

                                                                             
DELINQUENT
   BANKRUPTCY
   FORECLOSURE
   REO
   TOTAL
    No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal
    Loans
   Balance
       Loans
   Balance
       Loans
   Balance
       Loans
   Balance
       Loans
   Balance
0-29 Days
   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00  
30 Days
   8     3,895,601.90     30 Days   1     152,768.00     30 Days   0     0.00     30 Days   0     0.00     30 Days   9     4,048,369.90  
60 Days
   0     0.00     60 Days   0     0.00     60 Days   0     0.00     60 Days   0     0.00     60 Days   0     0.00  
90 Days
   1     247,195.14     90 Days   0     0.00     90 Days   0     0.00     90 Days   0     0.00     90 Days   1     247,195.14  
120 Days
   0     0.00     120 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     150 Days   0     0.00     150 Days   0     0.00  
180+ Days
   1     199,400.00     180+ Days   0     0.00     180+ Days   0     0.00     180+ Days   0     0.00     180+ Days   1     199,400.00  
 
  
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		  
 
   10     4,342,197.04         1     152,768.00         0     0.00         0     0.00         11     4,494,965.04  
 
 
   No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal
 
   Loans   Balance       Loans   Balance       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 %   0-29 Days   0.000000%     0.000000 %   0-29 Days   0.000000%     0.000000 %
30 Days
   0.396040%     0.538298 %   30 Days   0.049505%     0.021110 %   30 Days   0.000000%     0.000000 %   30 Days   0.000000%     0.000000 %   30 Days   0.445545%     0.559408 %
60 Days
   0.000000%     0.000000 %   60 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
   0.049505%     0.034158 %   90 Days   0.000000%     0.000000 %   90 Days   0.000000%     0.000000 %   90 Days   0.000000%     0.000000 %   90 Days   0.049505%     0.034158 %
120 Days
   0.000000%     0.000000 %   120 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 %   150 Days   0.000000%     0.000000 %   150 Days   0.000000%     0.000000 %
180+ Days
   0.049505%     0.027553 %   180+ Days   0.000000%     0.000000 %   180+ Days   0.000000%     0.000000 %   180+ Days   0.000000%     0.000000 %   180+ Days   0.049505%     0.027553 %
 
  
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		  
 
   0.495050%     0.600009 %       0.049505%     0.021110 %       0.000000%     0.000000 %       0.000000%     0.000000 %       0.544554%     0.621119 %
                                 
Current Period Class A Insufficient Funds:
    0.00     Principal Balance of Contaminated Properties     0.00     Periodic Advance     10,628.24  

 

 

Delinquency Status By Group

Group 1

                                                                             
DELINQUENT
   BANKRUPTCY
   FORECLOSURE
   REO
   TOTAL
    No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal
    Loans
   Balance
       Loans
   Balance
       Loans
   Balance
       Loans
   Balance
       Loans
   Balance
0-29 Days
   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00  
30 Days
   2     405,268.97     30 Days   0     0.00     30 Days   0     0.00     30 Days   0.     0.00     30 Days   2     405,268.97  
60 Days
   0     0.00     60 Days   0     0.00     60 Days   0     0.00     60 Days   0     0.00     60 Days   0     0.00  
90 Days
   1     247,195.14     90 Days   0     0.00     90 Days   0     0.00     90 Days   0     0.00     90 Days   1     247,195.14  
120 Days
   0     0.00     120 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     150 Days   0     0.00     150 Days   0     0.00  
180+ Days
   1     199,400.00     180+ Days   0     0.00     180+ Days   0     0.00     180+ Days   0     0.00     180+ Days   1     199,400.00  
 
  
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		  
 
   4     851,864.11         0     0.00         0     0.00         0     0.00         4     851,864.11  
 
 
   No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal
 
   Loans   Balance       Loans   Balance       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 %   0-29 Days   0.000000%     0.000000 %   0-29 Days   0.000000%     0.000000 %
30 Days
   0.164609%     0.089585 %   30 Days   0.000000%     0.000000 %   30 Days   0.000000%     0.000000 %   30 Days   0.000000%     0.000000 %   30 Days   0.164609%     0.089585 %
60 Days
   0.000000%     0.000000 %   60 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
   0.082305%     0.054643 %   90 Days   0.000000%     0.000000 %   90 Days   0.000000%     0.000000 %   90 Days   0.000000%     0.000000 %   90 Days   0.082305%     0.054643 %
120 Days
   0.000000%     0.000000 %   120 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 %   150 Days   0.000000%     0.000000 %   150 Days   0.000000%     0.000000 %
180+ Days
   0.082305%     0.044077 %   180+ Days   0.000000%     0.000000 %   180+ Days   0.000000%     0.000000 %   180+ Days   0.000000%     0.000000 %   180+ Days   0.082305%     0.044077 %
 
  
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		  
 
   0.329218%     0.188305 %       0.000000%     0.000000 %       0.000000%     0.000000 %       0.000000%     0.000000 %       0.329218%     0.188305 %
 
  
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		  

Group 2

                                                                             
DELINQUENT
   BANKRUPTCY
   FORECLOSURE
   REO
   TOTAL
    No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal
    Loans   Balance       Loans   Balance       Loans   Balance       Loans   Balance       Loans   Balance
0-29 Days
   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00     0-29 Days   0     0.00  
30 Days
   6     3,490,332.93     30 Days   1     152,768.00     30 Days   0     0.00     30 Days   0     0.00     30 Days   7     3,643,100.93  
60 Days
   0     0.00     60 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     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     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     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     180+ Days   0     0.00     180+ Days   0     0.00  
 
  
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		  
 
   6     3,490,332.93         1     152,768.00         0     0.00         0     0.00         7     3,643,100.93  
 
 
   No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal       No. of   Principal
 
   Loans   Balance       Loans   Balance       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 %   0-29 Days   0.000000%     0.000000 %   0-29 Days   0.000000%     0.000000 %
30 Days
   0.745342%     1.286507 %   30 Days   0.124224%     0.056309 %   30 Days   0.000000%     0.000000 %   30 Days   0.000000%     0.000000 %   30 Days   0.869565%     1.342815 %
60 Days
   0.000000%     0.000000 %   60 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 %   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 %   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 %   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 %   180+ Days   0.000000%     0.000000 %   180+ Days   0.000000%     0.000000 %
 
  
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		  
 
   0.745342%     1.286507 %       0.124224%     0.056309 %       0.000000%     0.000000 %       0.000000%     0.000000 %       0.869565%     1.342815 %
 
  
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		        
 		    
 		  

 

 

Collateral Statement

         
Collateral Description
   Mixed Arm
Weighted Average Gross Coupon
     3.029673 %
Weighted Average Net Coupon
     2.652550 %
Weighted Average Pass-Through Rate
     2.645550 %
Weighted Average Maturity (Stepdown Calculation)
     321  
Beginning Scheduled Collateral Loan Count
     2,047  
Number of Loans Paid in Full
     27  
Ending Scheduled Collateral Loan Count
     2,020  
Beginning Scheduled Collateral Balance
     737,548,921.42  
Ending Scheduled Collateral Balance
     723,687,080.55  
Ending Actual Collateral Balance at 31-Mar-2004
     723,688,214.08  
Monthly P&I Constant
     1,862,109.95  
Special Servicing Fee
     0.00  
Prepayment Penalties
     0.00  
Realized Loss Amount
     0.00  
Cumulative Realized Loss
     0.00  
Ending Scheduled Balance for Premium Loans
     723,687,080.55  
Scheduled Principal
     0.00  
Unscheduled Principal
     13,861,840.87  
Required Overcollateralized Amount
     0.00  
Overcollateralized Increase Amount
     0.00  
Overcollateralized Reduction Amount
     0.00  
Specified O/C Amount
     2,050,000.00  
Overcollateralized Amount
     2,050,000.00  
Overcollateralized Deficiency Amount
     0.00  
Base Overcollateralization Amount
     0.00  
Extra Principal Distribution Amount
     0.00  
Excess Cash Amount
     719,747.82  

 

 

         
Miscellaneous Reporting
        
Applied Loss Amount
     0.00  
Group 1 – One-Month LIBOR Loans
     133,771,201.85  
Group 1 – Six-Month LIBOR Loans
     318,613,121.00  
Group 2 – Six Month LIBOR Loans
     271,302,757.70  
M-1 Target Amount
     711,384,400.18  
M-2 Target Amount
     720,068,645.15  
Senior Target Amount
     691,121,161.93  
                         
Group
   1
   2
   Total
Collateral Description   Mixed ARM   6 Month ARM   Mixed ARM
Weighted Average Coupon Rate
     2.991970       3.092454       3.029673  
Weighted Average Net Rate
     2.615089       2.714928       2.652550  
Pass-Through Rate
     2.608089       2.707928       2.645550  
Weighted Average Maturity
     315       328       321  
Record Date
     03/31/2004       03/31/2004       03/31/2004  
Principal and Interest Constant
     1,148,939.71       713,170.24       1,862,109.95  
Beginning Loan Count
     1,232       815       2,047  
Loans Paid in Full
     17       10       27  
Ending Loan Count
     1,215       805       2,020  
Beginning Scheduled Balance
     460,809,377.05       276,739,544.37       737,548,921.42  
Ending Scheduled Balance
     452,384,322.85       271,302,757.70       723,687,080.55  
Scheduled Principal
     0.00       0.00       0.00  
Unscheduled Principal
     8,425,054.20       5,436,786.67       13,861,840.87  
Scheduled Interest
     1,148,939.71       713,170.24       1,862,109.95  
Servicing Fee
     144,725.26       87,063.70       231,788.96  
Master Servicing Fee
     2,688.08       1,614.31       4,302.39  
Trustee Fee
     0.00       0.00       0.00  
FRY Amount
     0.00       0.00       0.00  
Special Hazard Fee
     0.00       0.00       0.00  
Other Fee
     0.00       0.00       0.00  
Pool Insurance Fee
     0.00       0.00       0.00  
Spread 1
     0.00       0.00       0.00  
Spread 2
     0.00       0.00       0.00  
Spread 3
     0.00       0.00       0.00  
Net Interest
     1,001,526.37       624,492.23       1,626,018.60  
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