EX-10.1 2 f03043bexv10w1.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: SEPTEMBER 30, 2004 DISTRIBUTION DATE: OCTOBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution ------ --------- ----------- ------------ -------------- ------------ ------------- A-1 81743PDX1 SEN 2.13125% 706,041,926.76 1,253,959.88 9,425,881.70 X-1 81743PDZ6 IO 0.48773% 0.00 273,145.20 0.00 A-2 81743PDY9 SEN 2.21063% 136,270,301.18 251,036.01 1,587,626.48 X-2 81743PEA0 IO 0.09824% 0.00 68,956.85 0.00 B-1 81743PED4 SUB 2.40125% 14,166,000.00 28,346.76 0.00 X-B 81743PEB8 IO 0.14523% 0.00 0.00 0.00 B-2 81743PEE2 SUB 3.06125% 8,304,000.00 21,183.85 0.00 B-3 81743PEF9 SUB 2.63162% 4,884,000.00 10,710.68 0.00 B-4 81743PEG7 SUB 2.63162% 2,443,000.00 5,357.53 0.00 B-5 81743PEH5 SUB 2.63162% 1,465,000.00 3,212.77 0.00 B-6 81743PEJ1 SUB 2.63162% 3,908,267.00 8,570.89 0.00 A-R 81743PEC6 RES 2.56188% 0.00 0.00 0.00 -------------- ------------ ------------- Totals 877,482,494.94 1,924,480.42 11,013,508.18 -------------- ------------ ------------- Ending Current Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss ------ --------- ------------- -------------- ------------- ------------- A-1 81743PDX1 0.00 696,616,045.06 10,679,841.58 0.00 X-1 81743PDZ6 0.00 0.00 273,145.20 0.00 A-2 81743PDY9 0.00 134,682,674.70 1,838,662.49 0.00 X-2 81743PEA0 0.00 0.00 68,956.85 0.00 B-1 81743PED4 0.00 14,166,000.00 28,346.76 0.00 X-B 81743PEB8 0.00 0.00 0.00 0.00 B-2 81743PEE2 0.00 8,304,000.00 21,183.85 0.00 B-3 81743PEF9 0.00 4,884,000.00 10,710.68 0.00 B-4 81743PEG7 0.00 2,443,000.00 5,357.53 0.00 B-5 81743PEH5 0.00 1,465,000.00 3,212.77 0.00 B-6 81743PEJ1 0.00 3,908,267.00 8,570.89 0.00 A-R 81743PEC6 0.00 0.00 0.00 0.00 --------- -------------- ------------- -------- Totals 0.00 866,468,986.76 12,937,988.60 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-1 791,768,000.00 706,041,926.76 0.00 9,425,881.70 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 A-2 150,000,000.00 136,270,301.18 0.00 1,587,626.48 0.00 0.00 X-2 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 X-B 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 B-3 4,884,000.00 4,884,000.00 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 B-5 1,465,000.00 1,465,000.00 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 A-R 100.00 0.00 0.00 0.00 0.00 0.00 ------ -------------- -------------- -------- ------------- ------ ------ Totals 976,938,367.00 877,482,494.94 0.00 11,013,508.18 0.00 0.00 ------ -------------- -------------- -------- ------------- ------ ------ Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution ------ ------------- -------------- ----------- --------------- A-1 9,425,881.70 696,616,045.06 0.87982344 9,425,881.70 X-1 0.00 0.00 0.00000000 0.00 A-2 1,587,626.48 134,682,674.70 0.89788450 1,587,626.48 X-2 0.00 0.00 0.00000000 0.00 B-1 0.00 14,166,000.00 1.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-2 0.00 8,304,000.00 1.00000000 0.00 B-3 0.00 4,884,000.00 1.00000000 0.00 B-4 0.00 2,443,000.00 1.00000000 0.00 B-5 0.00 1,465,000.00 1.00000000 0.00 B-6 0.00 3,908,267.00 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ------ ------------- -------------- ----------- -------------- Totals 11,013,508.18 866,468,986.76 0.88692288 11,013,508.18 ------ ------------- -------------- ----------- --------------
(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-1 791,768,000.00 891.72829258 0.00000000 11.90485306 0.00000000 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 150,000,000.00 908.46867453 0.00000000 10.58417653 0.00000000 0.00000000 X-2 0.00 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 X-B 0.00 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 B-3 4,884,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,443,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,465,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,908,267.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution ----- ----------- ------------- ----------- --------------- A-1 11.90485306 879.82343952 0.87982344 11.90485306 X-1 0.00000000 0.00000000 0.00000000 0.00000000 A-2 10.58417653 897.88449800 0.89788450 10.58417653 X-2 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Current Certificate/ Current Unpaid Current Non-Supported Original Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) ------ -------------- ----------- -------------- ------------ ---------- --------- ------------- -------- A-1 791,768,000.00 2.13125% 706,041,926.76 1,253,959.88 0.00 0.00 0.00 0.00 X-1 0.00 0.48773% 672,045,904.98 273,145.20 0.00 0.00 0.00 0.00 A-2 150,000,000.00 2.21063% 136,270,301.18 251,036.01 0.00 0.00 0.00 0.00 X-2 0.00 0.09824% 842,312,227.94 68,956.85 0.00 0.00 0.00 0.00 B-1 14,166,000.00 2.40125% 14,166,000.00 28,346.76 0.00 0.00 0.00 0.00 X-B 0.00 0.14523% 22,470,000.00 2,719.49 0.00 0.00 0.00 0.00 B-2 8,304,000.00 3.06125% 8,304,000.00 21,183.85 0.00 0.00 0.00 0.00 B-3 4,884,000.00 2.63162% 4,884,000.00 10,710.68 0.00 0.00 0.00 0.00 B-4 2,443,000.00 2.63162% 2,443,000.00 5,357.53 0.00 0.00 0.00 0.00 B-5 1,465,000.00 2.63162% 1,465,000.00 3,212.77 0.00 0.00 0.00 0.00 B-6 3,908,267.00 2.63162% 3,908,267.00 8,570.89 0.00 0.00 0.00 0.00 A-R 100.00 2.56188% 0.00 0.00 0.00 0.00 0.00 0.00 ------ -------------- ------------ ------- -------- -------- ------ Totals 976,938,367.00 1,927,199.91 0.00 0.00 0.00 0.00 -------------- ------------ ------- -------- -------- ------ Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance ------ -------------- --------- -------------- A-1 1,253,959.88 0.00 696,616,045.06 X-1 273,145.20 0.00 647,108,144.32 A-2 251,036.01 0.00 134,682,674.70 X-2 68,956.85 0.00 831,298,719.76 B-1 28,346.76 0.00 14,166,000.00 X-B 0.00 0.00 22,470,000.00 B-2 21,183.85 0.00 8,304,000.00 B-3 10,710.68 0.00 4,884,000.00 B-4 5,357.53 0.00 2,443,000.00 B-5 3,212.77 0.00 1,465,000.00 B-6 8,570.89 0.00 3,908,267.00 A-R 0.00 0.00 0.00 ------ ------------- ------- Totals 1,924,480.42 0.00 ------------- -------
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
Payment of Current Beginning Unpaid Current Non-Supported Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --------- -------------- ----------- ---------------- --------------- ---------- ---------- ------------- ---------- A-1 791,768,000.00 2.13125% 891.72829258 1.58374660 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.48773% 713.60027627 0.29003449 0.00000000 0.00000000 0.00000000 0.00000000 A-2 150,000,000.00 2.21063% 908.46867453 1.67357340 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.09824% 894.39461517 0.07322063 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,166,000.00 2.40125% 1000.00000000 2.00104193 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.14523% 1000.00000000 0.12102759 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,304,000.00 3.06125% 1000.00000000 2.55104167 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,884,000.00 2.63162% 1000.00000000 2.19301392 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,443,000.00 2.63162% 1000.00000000 2.19301269 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,465,000.00 2.63162% 1000.00000000 2.19301706 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,908,267.00 2.63162% 1000.00000000 2.19301547 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.56188% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Total Interest Interest Ending Certificate/ Class (5) Distribution Shortfall Notational Balance --------- -------------- ---------- ------------------- A-1 1.58374660 0.00000000 879.82343952 X-1 0.29003449 0.00000000 687.12054808 A-2 1.67357340 0.00000000 897.88449800 X-2 0.07322063 0.00000000 882.70011272 B-1 2.00104193 0.00000000 1000.00000000 X-B 0.00000000 0.00000000 1000.00000000 B-2 2.55104167 0.00000000 1000.00000000 B-3 2.19301392 0.00000000 1000.00000000 B-4 2.19301269 0.00000000 1000.00000000 B-5 2.19301706 0.00000000 1000.00000000 B-6 2.19301547 0.00000000 1000.00000000 A-R 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 13,219,581.90 Liquidations, Insurance Proceeds, Reserve Funds 253.57 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 9,046.95 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 13,228,882.42 Withdrawals Reimbursement for Servicer Advances 10,738.95 Payment of Service Fee 280,154.87 Payment of Interest and Principal 12,937,988.60 ------------- Total Withdrawals (Pool Distribution Amount) 13,228,882.42 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 276,133.10 Master Servicing Fee 4,021.77 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 280,154.87 ==========
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 2,500.00 2,973.06 2,719.49 2,246.43
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 13 4,047,386.53 60 Days 0. 0.00 90 Days 0 0.00 120 Days 1 100,000.00 150 Days 0 0.00 180+ Days 0 0.00 ----- ------------ 14 4,147,386.53
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.504854% 0.467112% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.038835% 0.011541% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.543689% 0.478653%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ------ 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 ---- ------ 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 13 4,047,386.53 60 Days 0. 0.00 90 Days 0 0.00 120 Days 1 100,000.00 150 Days 0 0.00 180+ Days 0 0.00 --- ------------ 14 4,147,386.53
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.504854% 0.467112% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.038835% 0.011541% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.543689% 0.478653%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9,046.95
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 4.05903356% 95.940966% 0.000000% Class X-1 35,170,267.00 3.60004973% 35,170,267.00 4.05903356% 0.000000% 0.000000% Class X-2 35,170,267.00 3.60004973% 35,170,267.00 4.05903356% 0.000000% 0.000000% Class B-1 21,004,267.00 2.15000943% 21,004,267.00 2.42412219% 1.634911% 40.278341% Class B-2 12,700,267.00 1.30000698% 12,700,267.00 1.46574975% 0.958372% 23.610853% Class B-3 7,816,267.00 0.80007780% 7,816,267.00 0.90208272% 0.563667% 13.886730% Class B-4 5,373,267.00 0.55001085% 5,373,267.00 0.62013379% 0.281949% 6.946208% Class B-5 3,908,267.00 0.40005257% 3,908,267.00 0.45105677% 0.169077% 4.165450% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.451057% 11.112418%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP DELINQUENT POOL 1 -- 1 MO LIBOR
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
DELINQUENT POOL 1 -- 6 MO LIBOR
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 9 2,892,130.18 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ------------ 9 2,892,130.18
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.471204% 0.470894% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.471204% 0.470894%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 9 2,892,130.18 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ------------ 9 2,892,130.18
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.471204% 0.470894% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.471204% 0.470894%
DELINQUENT POOL 2
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 4 1,155,256.35 60 Days 0 0.00 90 Days 0 0.00 120 Days 1 100,000.00 150 Days 0 0.00 180+ Days 0 0.00 --- ------------ 5 1,255,256.35
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.904977% 0.823504% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.226244% 0.071283% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 1.131222% 0.894788%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 4 1,155,256.35 60 Days 0 0.00 90 Days 0 0.00 120 Days 1 100,000.00 150 Days 0 0.00 180+ Days 0 0.00 --- ------------ 5 1,255,256.35
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.904977% 0.823504% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.226244% 0.071283% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 1.131222% 0.894788%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.014599% Weighted Average Net Coupon 2.636974% Weighted Average Pass-Through Rate 2.631474% Weighted Average Maturity (Stepdown Calculation) 313 Beginning Scheduled Collateral Loan Count 2,603 Number of Loans Paid in Full 28 Ending Scheduled Collateral Loan Count 2,575 Beginning Scheduled Collateral Balance 877,482,495.89 Ending Scheduled Collateral Balance 866,468,987.71 Ending Actual Collateral Balance at 30-Sept-2004 866,471,075.07 Monthly P&I Constant 2,204,381.76 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 12,857,886.63 Ending Scheduled Balance for Premium Loans 866,468,987.71 Scheduled Principal 0.00 Unscheduled Principal 11,013,508.18
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 3.165788 2.998993 2.963053 3.014599 Weighted Average Net Rate 2.774540 2.623619 2.586358 2.636974 Pass-Through Rate 2.769040 2.618119 2.580858 2.631474 Weighted Average Maturity 298 315 314 313 Record Date 09/30/2004 09/30/2004 09/30/2004 09/30/2004 Principal and Interest Constant 297,246.92 1,556,820.59 350,314.25 2,204,381.76 Beginning Loan Count 227 1,930 446 2,603 Loans Paid in Full 4 20 4 28 Ending Loan Count 223 1,910 442 2,575 Beginning Scheduled Balance 112,672,186.07 622,937,347.62 141,872,962.20 877,482,495.89 Ending Scheduled Balance 112,007,404.08 614,176,247.91 140,285,335.72 866,468,987.71 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 664,781.99 8,761,099.71 1,587,626.48 11,013,508.18 Scheduled Interest 297,246.92 1,556,820.59 350,314.25 2,204,381.76 Servicing Fee 36,735.64 194,861.78 44,535.68 276,133.10 Master Servicing Fee 516.40 2,855.12 650.25 4,021.77 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 259,994.88 1,359,103.69 305,128.32 1,924,226.89 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 95.980530% 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 96.050931% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%