SMT Series 2003-8 Certificateholder Distribution Statement by Wells Fargo Bank Minnesota, N.A.

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A., as Certificate Administrator, for the SMT Series 2003-8 trust. It summarizes the principal and interest payments made to certificateholders as of the May 28, 2004 record date and June 21, 2004 distribution date. The statement details the amounts distributed to each class of certificates, the remaining balances, and confirms that all distributions were made in accordance with the Pooling and Servicing Agreement. No realized losses are reported for this period.

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EX-10.1 2 f00143aexv10w1.txt EXHIBIT 10.1 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 2003-8 RECORD DATE: MAY 28, 2004 DISTRIBUTION DATE: JUNE 21, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Current Class CUSIP Description Through Rate Balance Distribution Distribution Realized Loss ----- ----- ----------- ------------ ------- ------------ ------------ ------------- A-1 81743PDX1 SEN 1.42000% 757,332,934.03 896,177.30 11,485,225.48 0.00 X-1 81743PDZ6 IO 0.80000% 0.00 520,834.11 0.00 0.00 A-2 81743PDY9 SEN 1.56000% 146,983,994.82 191,079.19 1,111,506.28 0.00 X-2 81743PEA0 IO 0.39272% 0.00 295,953.79 0.00 0.00 B-1 81743PED4 SUB 1.69000% 14,166,000.00 19,950.45 0.00 0.00 X-B 81743PEB8 IO 0.59273% 0.00 11,098.84 0.00 0.00 B-2 81743PEE2 SUB 2.35000% 8,304,000.00 16,262.00 0.00 0.00 B-3 81743PEF9 SUB 2.52664% 4,884,000.00 10,283.42 0.00 0.00 B-4 81743PEG7 SUB 2.52664% 2,443,000.00 5,143.81 0.00 0.00 B-5 81743PEH5 SUB 2.52664% 1,465,000.00 3,084.60 0.00 0.00 B-6 81743PEJ1 SUB 2.52664% 3,908,267.00 8,228.98 0.00 0.00 A-R 81743PEC6 RES 2.56451% 0.00 0.00 0.00 0.00 -------------- ------------ ------------- ---- Totals 939,487,195.85 1,978,096.49 12,596,731.76 0.00 -------------- ------------ ------------- ---- Ending Certificate Total Cumulative Class CUSIP Balance Distribution Realized Loss ----- ----- ------- ------------ ------------- A-1 81743PDX1 745,847,708.55 12,381,402.78 0.00 X-1 81743PDZ6 0.00 520,834.11 0.00 A-2 81743PDY9 145,872,488.54 1,302,585.47 0.00 X-2 81743PEA0 0.00 295,953.79 0.00 B-1 81743PED4 14,166,000.00 19,950.45 0.00 X-B 81743PEB8 0.00 11,098.84 0.00 B-2 81743PEE2 8,304,000.00 16,262.00 0.00 B-3 81743PEF9 4,884,000.00 10,283.42 0.00 B-4 81743PEG7 2,443,000.00 5,143.81 0.00 B-5 81743PEH5 1,465,000.00 3,084.60 0.00 B-6 81743PEJ1 3,908,267.00 8,228.98 0.00 A-R 81743PEC6 0.00 0.00 0.00 -------------- ------------- ---- Totals 926,890,464.09 14,574,828.25 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 Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - ----- ------ ------- ------------ ------------ --------- -------- --------- A-1 791,768,000.00 757,332,934.03 0.00 11,485,225.48 0.00 0.00 11,485,225.48 X-1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 A-2 150,000,000.00 146,983,994.82 0.00 1,111,506.28 0.00 0.00 1,111,506.28 X-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 14,166,000.00 14,166,000.00 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-2 8,304,000.00 8,304,000.00 0.00 0.00 0.00 0.00 0.00 B-3 4,884,000.00 4,884,000.00 0.00 0.00 0.00 0.00 0.00 B-4 2,443,000.00 2,443,000.00 0.00 0.00 0.00 0.00 0.00 B-5 1,465,000.00 1,465,000.00 0.00 0.00 0.00 0.00 0.00 B-6 3,908,267.00 3,908,267.00 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- ------------- Totals 976,938,367.00 939,487,195.85 0.00 12,596,731.76 0.00 0.00 12,596,731.76 -------------- -------------- ---- ------------- ---- ---- ------------- Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ----- ------- ---------- ------------ A-1 745,847,708.55 0 ###-###-#### 11,485,225.48 X-1 0.00 0.0000000 0.00 A-2 145,872,488.54 0 ###-###-#### 1,111,506.28 X-2 0.00 0.0000000 0.00 B-1 14,166,000.00 1.0000000 0.00 X-B 0.00 0.0000000 0.00 B-2 8,304,000.00 1.0000000 0.00 B-3 4,884,000.00 1.0000000 0.00 B-4 2,443,000.00 1.0000000 0.00 B-5 1,465,000.00 1.0000000 0.00 B-6 3,908,267.00 1.0000000 0.00 A-R 0.00 0.0000000 0.00 -------------- --------- ------------- Totals 926,890,464.09 0 ###-###-#### 12,596,731.76 -------------- --------- -------------
(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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction ----- ------ ------- ------------ ------------ --------- -------- --------- A-1 791,768,000.00 956.50864146 0.00000000 14.50579650 0.00000000 0.00000000 14.50579650 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 150,000,000.00 979.89329880 0.00000000 7.41004187 0.00000000 0.00000000 7.41004187 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,166,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,304,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,884,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,443,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,465,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,908,267.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution ----- ------- ---------- ------------ A-1 942.00284496 0.94200284 14.50579650 X-1 0.00000000 0.00000000 0.00000000 A-2 972.48325693 0.97248326 7.41004187 X-2 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 B-2 1000.00000000 1.00000000 0.00000000 B-3 1000.00000000 1.00000000 0.00000000 B-4 1000.00000000 1.00000000 0.00000000 B-5 1000.00000000 1.00000000 0.00000000 B-6 1000.00000000 1.00000000 0.00000000 A-R 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- Current Certificate/ Current Unpaid Current Supported Original Face Certificate Notional Accrued Interest Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall Shortfall - ----- ------ ---- ------- -------- --------- --------- --------- A-1 791,768,000.00 1.42000% 757,332,934.03 896,177.31 0.00 0.00 0.00 X-1 0.00 0.80000% 781,251,166.47 520,834.11 0.00 0.00 0.00 A-2 150,000,000.00 1.56000% 146,983,994.82 191,079.19 0.00 0.00 0.00 X-2 0.00 0.39272% 904,316,928.85 295,953.80 0.00 0.00 0.00 B-1 14,166,000.00 1.69000% 14,166,000.00 19,950.45 0.00 0.00 0.00 X-B 0.00 0.59273% 22,470,000.00 11,098.84 0.00 0.00 0.00 B-2 8,304,000.00 2.35000% 8,304,000.00 16,262.00 0.00 0.00 0.00 B-3 4,884,000.00 2.52664% 4,884,000.00 10,283.42 0.00 0.00 0.00 B-4 2,443,000.00 2.52664% 2,443,000.00 5,143.81 0.00 0.00 0.00 B-5 1,465,000.00 2.52664% 1,465,000.00 3,084.60 0.00 0.00 0.00 B-6 3,908,267.00 2.52664% 3,908,267.00 8,228.98 0.00 0.00 0.00 A-R 100.00 2.56451% 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- Totals 976,938,367.00 1,978,096.51 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - ----- -------- ------------ --------- ------- A-1 0.00 896,177.30 0.00 745,847,708.55 X-1 0.00 520,834.11 0.00 752,462,624.72 A-2 0.00 191,079.19 0.00 145,872,488.54 X-2 0.00 295,953.79 0.00 891,720,197.09 B-1 0.00 19,950.45 0.00 14,166,000.00 X-B 0.00 11,098.84 0.00 22,470,000.00 B-2 0.00 16,262.00 0.00 8,304,000.00 B-3 0.00 10,283.42 0.00 4,884,000.00 B-4 0.00 5,143.81 0.00 2,443,000.00 B-5 0.00 3,084.60 0.00 1,465,000.00 B-6 0.00 8,228.98 0.00 3,908,267.00 A-R 0.00 0.00 0.00 0.00 ---- ------------ ---- Totals 0.00 1,978,096.49 0.00 ---- ------------ ----
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
Payment of Non- Current Beginning Unpaid Current Supported Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall - --------- ------ ---- ---------------- -------- --------- --------- --------- A-1 791,768,000.00 1.42000% 956.50864146 1.13186957 0.00000000 0.00000000 0.00000000 X-1 0.00 0.80000% 829.55798718 0.55303866 0.00000000 0.00000000 0.00000000 A-2 150,000,000.00 1.56000% 979.89329880 1.27386127 0.00000000 0.00000000 0.00000000 X-2 0.00 0.39272% 960.23323032 0.31425340 0.00000000 0.00000000 0.00000000 B-1 14,166,000.00 1.69000% 1000.00000000 1.40833333 0.00000000 0.00000000 0.00000000 X-B 0.00 0.59273% 1000.00000000 0.49394036 0.00000000 0.00000000 0.00000000 B-2 8,304,000.00 2.35000% 1000.00000000 1.95833333 0.00000000 0.00000000 0.00000000 B-3 4,884,000.00 2.52664% 1000.00000000 2.10553235 0.00000000 0.00000000 0.00000000 B-4 2,443,000.00 2.52664% 1000.00000000 2.10553009 0.00000000 0.00000000 0.00000000 B-5 1,465,000.00 2.52664% 1000.00000000 2.10552901 0.00000000 0.00000000 0.00000000 B-6 3,908,267.00 2.52664% 1000.00000000 2.10553168 0.00000000 0.00000000 0.00000000 A-R 100.00 2.56451% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Realized Total Interest Interest Ending Certificate/ Class (5 Loss (6) Distribution Shortfall Notational Balance - -------- -------- ------------ --------- ------------------ A-1 0.00000000 1.13186855 0.00000000 942.00284496 X-1 0.00000000 0.55303866 0.00000000 798.98937394 A-2 0.00000000 1.27386127 0.00000000 972.48325693 X-2 0.00000000 0.31425339 0.00000000 946.85760940 B-1 0.00000000 1.40833333 0.00000000 1000.00000000 X-B 0.00000000 1.49394036 0.00000000 1000.00000000 B-2 0.00000000 1.95833333 0.00000000 1000.00000000 B-3 0.00000000 2.10553235 0.00000000 1000.00000000 B-4 0.00000000 2.10553009 0.00000000 1000.00000000 B-5 0.00000000 2.10552901 0.00000000 1000.00000000 B-6 0.00000000 2.10553168 0.00000000 1000.00000000 A-R 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 14,864,029.26 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 28,231.59 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 14,892,260.85 Withdrawals Reimbursement for Servicer Advances 17,437.62 Payment of Service Fee 299,994.98 Payment of Interest and Principal 14,574,828.25 ------------- Total Withdrawals (Pool Distribution Amount) 14,892,260.85 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 295,689.01 Master Servicing Fee 4,305.97 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 299,994.98 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- Class 1-A Companion Sub Account 4,000.00 0.00 0.00 4,000.00 Class 1-A NAS Sub Account 1,000.00 0.00 0.00 1,000.00 Class 2-A Companion Sub Account 2,000.00 0.00 0.00 2,000.00 Class 2-A NAS Sub Account 500.00 0.00 0.00 500.00 Class X-B Sub Account 2,000.00 0.00 0.00 2,000.00
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 41 11,614,442.33 30 Days 0 0.00 30 Days 0 0.00 60 Days 3 1,109,062.32 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 -------- ------------- -------- -------- -------- -------- 44 12,723,504.65 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 1.514592% 1.253052% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.110824% 0.119654% 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% -------- ------------- -------- -------- -------- -------- 1.625416% 1.372706% 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 41 11,614,442.33 60 Days 0 0.00 60 Days 3 1,109,062.32 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 44 12,723,504.65 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 1.514592% 1.253052% 60 Days 0.000000% 0.000000% 60 Days 0.110824% 0.119654% 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% 1.625416% 1.372706%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 28,231.59
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Original $ Original% Current $ Current % Current Class % Prepayment % ---------- --------- --------- --------- --------------- ------------ Class A 35,170,267.00 3.60004973% 35,170,267.00 3.79443616% 96.205564% 0.000000% Class X-1 35,170,267.00 3.60004973% 35,170,267.00 3.79443616% 0.000000% 0.000000% Class X-2 35,170,267.00 3.60004973% 35,170,267.00 3.79443616% 0.000000% 0.000000% Class B-1 21,004,267.00 2.15000943% 21,004,267.00 2.26610023% 1.528336% 40.278341% Class B-2 12,700,267.00 1.30000698% 12,700,267.00 1.37020149% 0.895899% 23.610853% Class B-3 7,816,267.00 0.80007780% 7,816,267.00 0.84327839% 0.526923% 13.886730% Class B-4 5,373,267.00 0.55001085% 5,373,267.00 0.57970895% 0.263569% 6.946208% Class B-5 3,908,267.00 0.40005257% 3,908,267.00 0.42165360% 0.158055% 4.165450% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.421654% 11.112418%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------------- -------------------------------- --------------------------------- POOL 1 -- 1 MO LIBOR 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 MO LIBOR 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 30 9,195,367.74 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 827,813.29 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 -------- ------------- -------- -------- -------- -------- 32 10,023,181.03 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 1.496259% 1.396037% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.099751% 0.125678% 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% -------- ------------- -------- -------- -------- -------- 1.596010% 1.521715% 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 30 9,195,367.74 60 Days 0 0.00 60 Days 2 827,813.29 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 32 10,023,181.03 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 1.496259% 1.396037% 60 Days 0.000000% 0.000000% 60 Days 0.099751% 0.125678% 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% 1.596010% 1.521715%
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 11 2,419,074.59 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 281,249.03 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 -------- ------------ -------- -------- -------- -------- 12 2,700,323.62 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 2.360515% 1.597011% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.214592% 0.185673% 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% -------- ------------ -------- -------- -------- -------- 2.575107% 1.782684% 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 11 2,419,074.59 60 Days 0 0.00 60 Days 1 281,249.03 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 12 2,700,323.62 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 2.360515% 1.597011% 60 Days 0.000000% 0.000000% 60 Days 0.214592% 0.185673% 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% 2.575107% 1.782684%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 2.909789% Weighted Average Net Coupon 2.532108% Weighted Average Pass-Through Rate 2.526608% Weighted Average Maturity (Stepdown Calculation) 317 Beginning Scheduled Collateral Loan Count 2,734 Number of Loans Paid in Full 27 Ending Scheduled Collateral Loan Count 2,707 Beginning Scheduled Collateral Balance 939,487,196.80 Ending Scheduled Collateral Balance 926,890,465.04 Ending Actual Collateral Balance at 28-May-2004 926,892,035.63 Monthly P&I Constant 2,278,091.51 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 14,500,776.17 Ending Scheduled Balance for Premium Loans 926,890,465.04 Scheduled Principal 0.00 Unscheduled Principal 12,596,731.76
GROUP POOL 1--1 MO LIBOR POOL 1--6 MO LIBOR POOL 2 TOTAL Collateral Description 1 Month LIBOR ARM 6 Month LIBOR ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 2.789676 2.932994 2.900653 2.909789 Weighted Average Net Rate 2.399117 2.557326 2.524075 2.532108 Pass-Through Rate 2.393617 2.551826 2.518575 2.526608 Weighted Average Maturity 302 319 318 317 Record Date 05/28/2004 05/28/2004 05/28/2004 05/28/2004 Principal and Interest Constant 273,576.15 1,635,681.20 368,834.16 2,278,091.51 Beginning Loan Count 239 2,027 468 2,734 Loans Paid in Full 3 22 2 27 Ending Loan Count 236 2,005 466 2,707 Beginning Scheduled Balance 117,680,839.55 669,219,701.41 152,586,655.84 939,487,196.80 Ending Scheduled Balance 116,740,189.61 658,675,125.87 151,475,149.56 926,890,465.04 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 940,649.94 10,544,575.54 1,111,506.28 12,596,731.76 Scheduled Interest 273,576.15 1,635,681.20 368,834.16 2,278,091.51 Servicing Fee 38,301.07 209,503.92 47,884.02 295,689.01 Master Servicing Fee 539.37 3,067.25 699.35 4,305.97 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 234,735.71 1,423,110.03 320,250.79 1,978,096.53 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 Mo LIBOR Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Prorata Senior Percent ###-###-#### Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Group Pool 1 -- 6Mo LIBOR Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Prorata Senior Percent 96.328210% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%