Contract

by Sequoia Residential Funding Inc
August 15th, 2003
EXHIBIT 10.1 CONTACT: CUSTOMER SERVICES -- CTSLINK WELLS FARGO BANK MINNESOTA, N.A. SECURITIES ADMINISTRATION SERVICES 7485 NEW HORIZON WAY FREDERICK, MD 21703 WWW.CTSLINK.COM TELEPHONE: (301) 815-6600 FAX: (301) 315-6660 SMT SERIES 2002-10 RECORD DATE: JUNE 30, 2003 DISTRIBUTION DATE: JULY 21, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Ending Class Pass-Through Certificate Interest Principal Current Certificate Class CUSIP Description Rate Balance Distribution Distribution Realized Loss Balance - ----- ----- ----------- ---- ------- ------------ ------------ ------------- ------- 1A 81743VAA1 SEN 1.50375% 772,129,603.20 967,574.91 6,717,483.52 0.00 765,412.,119.68 2A-1 81743VAB9 SEN 1.48375% 180,911,839.89 223,689.95 2,908,594.07 0.00 178,003,245.82 2A-2 81743VAN3 SEN 1.78375% 3,500,000.00 5,202.60 0.00 0.00 3,500,000.00 X-1A 81743VAC7 IO 1.25746% 0.00 384,494.06 0.00 0.00 0.00 X-1B 81743VAD5 IO 1.46164% 0.00 493,580.73 0.00 0.00 0.00 X-2 81743VAP8 IO 1.47995% 0.00 227,440.14 0.00 0.00 0.00 X-B 81743VAE3 IO 0.87366% 0.00 18,737.37 0.00 0.00 0.00 A-R 81743VAF0 SEN 3.37697% 0.00 0.00 0.00 0.00 0.00 B-1 81743VAG8 SUB 1.90375% 12,600,000.00 19,989.38 0.00 0.00 12,600,000.00 B-2 81743VAH6 SUB 1.90375% 8,400,000.00 13,326.25 0.00 0.00 8,400,000.00 B-3 81743VAJ2 SUB 2.50375% 4,725,000.00 9,858.52 0.00 0.00 4,725,000.00 B-4 SMT0210B4 SUB 2.88761% 2,625,000.00 6,316.65 0.00 0.00 2,625,000.00 B-5 SMT0210B5 SUB 2.88761% 2,100,000.00 5,053.32 0.00 0.00 2,100,000.00 B-6 SMT0210B6 SUB 2.88761% 3,685,162.00 8,867.76 0.00 0.00 3,685,162.00 - ------ --------- --- -------- -------------- ------------ ------------ ---- --------------- Totals 990,676,605.09 2,384,131.64 9,626,077.59 0.00 981,050,527.50 - ------ --------- --- -------- -------------- ------------ ------------ ---- ---------------
Total Cumulative Class Distribution Realized Loss - ----- ------------ ------------- 1A 7,685,058.43 0.00 2A-1 3,132,284.02 0.00 2A-2 5,202.60 0.00 X-1A 384,494.06 0.00 X-1B 493,580.73 0.00 X-2 227,440.14 0.00 X-B 18,737.37 0.00 A-R 0.00 0.00 B-1 19,989.38 0.00 B-2 13,326.25 0.00 B-3 9,858.52 0.00 B-4 6,316.65 0.00 B-5 5,053.32 0.00 B-6 8,867.76 0.00 - ------ ------------- ---- Totals 12,010,209.23 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 Total Ending Ending Original Face Certificate Principal Principal Realized Principal Certificate Certificate Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance Percentage ----- ------ ------- ------------ ------------ --------- -------- --------- ------- ---------- 1A 822,375,000.00 772,129,603.20 0.00 6,717,483.52 0.00 0.00 6,717,483.52 765,412,119.68 0.93073369 2A-1 190,000,000.00 180,911,839.89 0.00 2,908,594.07 0.00 0.00 2,908,594.07 178,003,245.82 0.93685919 2A-2 3,500,000.00 3,500,000.00 0.00 0.00 0.00 0.00 0.00 3,500,000.00 1.00000000 X-1A 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 X-1B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 X-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 B-1 12,600,000.00 12,600,000.00 0.00 0.00 0.00 0.00 0.00 12,600,000.00 1.00000000 B-2 8,400,000.00 8,400,000.00 0.00 0.00 0.00 0.00 0.00 8,400,000.00 1.00000000 B-3 4,725,000.00 4,725,000.00 0.00 0.00 0.00 0.00 0.00 4,725,000.00 1.00000000 B-4 2,625,000.00 2,625,000.00 0.00 0.00 0.00 0.00 0.00 2,625,000.00 1.00000000 B-5 2,100,000.00 2,100,000.00 0.00 0.00 0.00 0.00 0.00 2,100,000.00 1.00000000 B-6 3,685,162.00 3,685,162.00 0.00 0.00 0.00 0.00 0.00 3,685,162.00 1.00000000 - ------ ---------------- -------------- ---- ------------ ---- ---- ------------ -------------- ---------- Totals 1,050,010,262.00 990,676,605.09 0.00 9,626,077.59 0.00 0.00 9,626,077.59 981,050,527.50 0.93432470 - ------ ---------------- -------------- ---- ------------ ---- ---- ------------ -------------- ----------
Total Principal Class Distribution ----- ------------ 1A 6,717,483.52 2A-1 2,908,594.07 2A-2 0.00 X-1A 0.00 X-1B 0.00 X-2 0.00 X-B 0.00 A-R 0.00 B-1 0.00 B-2 0.00 B-3 0.00 B-4 0.00 B-5 0.00 B-6 0.00 - ------ ------------ Totals 9,626,077.59 - ------ ------------
(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 ----- ------ ------- ------------ ------------ --------- -------- --------- 1A 822,375,000.00 938.90208627 0.00000000 8.16839461 0.00000000 0.00000000 8.16839461 2A-1 190,000,000.00 952.16757837 0.00000000 15.30838984 0.00000000 0.00000000 15.30838984 2A-2 3,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 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 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 12,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,725,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,685,162.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution ----- ------- ---------- ------------ 1A 930.73369166 0.93073369 8.16839461 2A-1 936.85918853 0.93685919 15.30838984 2A-2 1000.00000000 1.00000000 0.00000000 X-1A 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 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
(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 Class Amount Rate Balance Interest Shortfall Shortfall Shortfall ----- ------ ---- ------- -------- --------- --------- --------- 1A 822,375,000.00 1.50375% 772,129,603.20 967,574.91 0.00 0.00 0.00 2A-1 190,000,000.00 1.48375% 180,911,839.89 223,689.95 0.00 0.00 0.00 2A-2 3,500,000.00 1.78375% 3,500,000.00 5,202.60 0.00 0.00 0.00 X-1A 0.00 1.25746% 366,913,322.78 384,482.42 0.00 0.00 0.00 X-1B 0.00 1.46164% 405,216,280.42 493,565.79 0.00 0.00 0.00 X-2 0.00 1.47995% 184,411,839.89 227,433.26 0.00 0.00 0.00 X-B 0.00 0.87366% 25,725,000.00 18,729.00 0.00 0.00 0.00 A-R 100.00 3.37697% 0.00 0.00 0.00 0.00 0.00 B-1 12,600,000.00 1.90375% 12,600,000.00 19,989.38 0.00 0.00 0.00 B-2 8,400,000.00 1.90375% 8,400,000.00 13,326.25 0.00 0.00 0.00 B-3 4,725,000.00 2.50375% 4,725,000.00 9,858.52 0.00 0.00 0.00 B-4 2,625,000.00 2.88761% 2,625,000.00 6,316.65 0.00 0.00 0.00 B-5 2,100,000.00 2.88761% 2,100,000.00 5,053.32 0.00 0.00 0.00 B-6 3,685,162.00 2.88761% 3,685,162.00 8,867.76 0.00 0.00 0.00 - ------- ---------------- -------- -------------- ------------ ---- ---- ---- Totals 1,050,010,262.00 2,384,089.81 0.00 0.00 0.00 - ------- ---------------- -------- -------------- ------------ ---- ---- ----
Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance ----- -------- ------------ --------- ------- 1A 0.00 967,574.91 0.00 765,412,119.68 2A-1 0.00 223,689.95 0.00 178,003,245.82 2A-2 0.00 5,202.60 0.00 3,500,000.00 X-1A 0.00 384,494.06 0.00 363,354,175.35 X-1B 0.00 493,580.73 0.00 402,057,944.33 X-2 0.00 227,440.14 0.00 181,503,245.82 X-B 0.00 18,737.37 0.00 25,725,000.00 A-R 0.00 0.00 0.00 0.00 B-1 0.00 19,989.38 0.00 12,600,000.00 B-2 0.00 13,326.25 0.00 8,400,000.00 B-3 0.00 9,858.52 0.00 4,725,000.00 B-4 0.00 6,316.65 0.00 2,625,000.00 B-5 0.00 5,053.32 0.00 2,100,000.00 B-6 0.00 8,867.76 0.00 3,685,162.00 - ------- ---- ------------ ---- -------------- Totals 0.00 2,384,131.64 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 Current Unpaid Current Non-Supported Class Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --- ------ ---- ---------------- -------- --------- --------- --------- -------- 1A 822,375,000.00 1.50375% 938.90208627 1.17656168 0.00000000 0.00000000 0.00000000 0.00000000 2A-1 190,000,000.00 1.48375% 952.16757837 1.17731553 0.00000000 0.00000000 0.00000000 0.00000000 2A-2 3,500,000.00 1.78375% 1000.00000000 1.48645714 0.00000000 0.00000000 0.00000000 0.00000000 X-1A 0.00 1.25746% 933.71719647 0.97842685 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 1.46164% 943.64680249 1.14939059 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 1.47995% 953.03276429 1.17536568 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.87366% 1000.00000000 0.72804665 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.37697% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 12,600,000.00 1.90375% 1000.00000000 1.58645873 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,400,000.00 1.90375% 1000.00000000 1.58645833 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,725,000.00 2.50375% 1000.00000000 2.08645926 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,625,000.00 2.88761% 1000.00000000 2.40634286 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,100,000.00 2.88761% 1000.00000000 2.40634286 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,685,162.00 2.88761% 1000.00000000 2.40634197 0.00000000 0.00000000 0.00000000 0.00000000
Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance --- ------------ --------- ------------------ 1A 1.17656168 0.00000000 930.73369166 2A-1 1.17731553 0.00000000 936.85918853 2A-2 1.48645714 0.00000000 1000.00000000 X-1A 0.97845647 0.00000000 924.65991521 X-1B 1.14942538 0.00000000 936.29183208 X-2 1.17540124 0.00000000 938.00127039 X-B 0.72837201 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 B-1 1.58645873 0.00000000 1000.00000000 B-2 1.58645833 0.00000000 1000.00000000 B-3 2.08645926 0.00000000 1000.00000000 B-4 2.40634286 0.00000000 1000.00000000 B-5 2.40634286 0.00000000 1000.00000000 B-6 2.40634197 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 12,214,505.43 Liquidations, Insurance Proceeds, Reserve Funds 41.84 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2,234.38 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 12,216,781.65 ------------- Withdrawals Reimbursement for Servicer Advances 181.47 Payment of Service Fee 206,390.95 Payment of Interest and Principal 12,010,209.23 ------------- Total Withdrawals (Pool Distribution Amount) 12,216,781.65 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 206,390.95 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 206,390.95 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- Class X-A Basis Risk Reserve Fund 8,000.00 33.47 33.47 8,000.00 Class X-B Basis Risk Reserve Fund 2,000.00 8.37 8.37 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 1 825,000.00 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 ---- ----------- --- ----- ---- ----- 1 825,000.00 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 0.038095% 0.084094% 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% -------- -------- -------- -------- -------- -------- 0.038095% 0.084094% 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 1 825,000.00 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 1 825,000.00
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 0.038095% 0.084094% 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% 0.038095% 0.084094%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 2,234.38 Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original % Current $ Current % Current Class % Prepayment % ---------- ---------- --------- --------- --------------- ------------ Class A 1,050,010,162.00 99.99999048% 981,050,527.50 100.00000000% 96.520550% 0.000000% Class 1A 227,635,162.00 21.67932736% 215,638,407.82 21.98035695% 78.019643% 2,242.298190% Class 2-A-1 37,635,162.00 3.58426611% 37,636,162.00 3.83621036% 18.144147% 521.465947% Class 2-A-2 34,135,162.00 3.25093604% 34,135,162.00 3.47944994% 0.356760% 10.253357% Class X-2 34,135,162.00 3.25093604% 34,135,162.00 3.47944994% 0.000000% 0.000000% Class B-1 21,535,162.00 2.05094776% 21,535,162.00 2.19511242% 1.284338% 36.912085% Class B-2 13,135,162.00 1.25095558% 13,135,162.00 1.33888741% 0.856225% 24.608057% Class B-3 8,410,162.00 0.80095998% 8,410,162.00 0.85726084% 0.481627% 13.842032% Class B-4 5,785,162.00 0.55096242% 5,785,162.00 0.58969052% 0.267570% 7.690018% Class B-5 3,685,162.00 0.35096438% 3,685,162.00 0.37563427% 0.214056% 6.152014% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.375634% 10.795795%
Please refer to the prospectus supplement for a full description of loss exposure
Original $ Original % Current $ Current % ------------- ----------- ------------- ----------- Bankruptcy 163,046.00 0.01552804% 163,046.00 0.01661953% Fraud 31,500,308.00 3.00000001% 31,500,308.00 3.21087519% Special Hazard 11,240,000.00 1.07046573% 11,018,216.36 1.12310386%
Limit of subordinate's exposure to certain types of losses DELINQUENCY STATUS BY GROUP GROUP 1
- --------------------------------------------------------------------------------------------------------------- DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 1 825,000.00 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 ----- ---------- ----- ------- ----- ------- 1 825,000.00 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 0.048146% 0.104030% 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% -------- -------- -------- -------- -------- -------- 0.048146% 0.104030% 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 1 825,000.00 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 1 825,000.00
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 0.048146% 0.104030% 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% 0.048146% 0.104030% - ---------------------------------------------------------------------------
Group 2
- ---------------------------------------------------------------------------------------------------------------- DELINQUENT BANKRUPTCY FORECLOSURE - ---------------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 ----- ---------- ----- ------- ----- ------- 0 0.00 0 0.00 0 0.00
No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% - ----------------------------------------------------------------------------------------------------------------
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 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 ----- ------- ----- ---------- 0 0.00 0 0.00
No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% - ---------------------------------------------------------------------------
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.137832% Weighted Average Net Coupon 2.887832% Weighted Average Pass-Through Rate 2.887832% Weighted Average Maturity (Stepdown Calculation) 289 Beginning Scheduled Collateral Loan Count 2,655 Number of Loans Paid in Full 30 Ending Scheduled Collateral Loan Count 2,625 Beginning Scheduled Collateral Balance 990,676,605.09 Ending Scheduled Collateral Balance 981,050,527.50 Ending Actual Collateral Balance at 30-June-2003 981,050,528.21 Monthly P&I Constant 2,590,480.75 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 11,928,026.52 Ending Scheduled Balance for Premium Loans 981,050,527.50 Scheduled Principal 0.00 Unscheduled Principal 9,626,077.59
GROUP 1 2 TOTAL Collateral Description Mixed ARM 6 Month ARM Mixed ARM Weighted Average Coupon Rate 3.118363 3.219392 3.137832 Weighted Average Net Rate 2.868363 2.969392 2.887832 Pass-Through Rate 2.868363 2.969392 2.887832 Weighted Average Maturity 289 289 289 Record Date 06/30/2003 06/30/2003 06/30/2003 Principal and Interest Constant 2,078,288.94 512,191.81 2,590,480.75 Beginning Loan Count 2,098 557 2,655 Loans Paid in Full 21 9 30 Ending Loan Count 2,077 548 2,625 Beginning Scheduled Balance 799,761,600.20 190,915,004.89 990,676,605.09 Ending Scheduled Balance 793,044,116.68 188,006,410.82 981,050,527.50 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 6,717,483.52 2,908,594.07 9,626,077.59 Scheduled Interest 2,078,288.94 512,191.81 2,590,480.75 Servicing Fee 166,616.99 39,773.96 206,390.95 Master Servicing Fee 0.00 0.00 0.00 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 1,911,671.95 472,417.85 2,384,089.80 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
MISCELLANEOUS REPORTING Group 1 One Month LIBOR Loans 376,471,555.16 Six Month LIBOR Loans 416,572,561.52 Pro Rata Senior Percentage 96.544971% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Group 2 Pro Rata Senior Percentage 96.593686% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%