Contract

by Sequoia Residential Funding Inc
June 8th, 2004
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: APRIL 30, 2004 DISTRIBUTION DATE: MAY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Current Class CUSIP Description Rate Balance Distribution Distribution Realized Loss - ----------------------------------------------------------------------------------------------------------------------- A-1 81743PDX1 SEN 1.42000% 769,729,690.28 910,846.80 12,396,756.25 0.00 X-1 81743PDZ6 IO 0.80000% 0.00 540,727.96 0.00 0.00 A-2 81743PDY9 SEN 1.56000% 148,062,097.40 192,480.73 1,078,102.58 0.00 X-2 81743PEA0 IO 0.39875% 0.00 304,975.26 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 0.61445% 0.00 11,505.51 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 2.54836% 4,884,000.00 10,371.81 0.00 0.00 B-4 81743PEG7 SUB 2.54836% 2,443,000.00 5,188.03 0.00 0.00 B-5 81743PEH5 SUB 2.54836% 1,465,000.00 3,111.12 0.00 0.00 B-6 81743PEJ1 SUB 2.54836% 3,908,267.00 8,299.71 0.00 0.00 A-R 81743PEC6 RES 2.55434% 0.00 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------------------------- Totals 952,962,054.68 2,023,719.38 13,474,858.83 0.00 - ----------------------------------------------------------------------------------------------------------------------- Certificate Ending Class Certificate Total Cumulative Class CUSIP Description Balance Distribution Realized Loss - -------------------------------------------------------------------------------------- A-1 81743PDX1 SEN 757,332,934.03 13,307,603.05 0.00 X-1 81743PDZ6 IO 0.00 540,727.96 0.00 A-2 81743PDY9 SEN 146,983,994.82 1,270,583.31 0.00 X-2 81743PEA0 IO 0.00 304,975.26 0.00 B-1 81743PED4 SUB 14,166,000.00 19,950.45 0.00 X-B 81743PEB8 IO 0.00 11,505.51 0.00 B-2 81743PEE2 SUB 8,304,000.00 16,262.00 0.00 B-3 81743PEF9 SUB 4,884,000.00 10,371.81 0.00 B-4 81743PEG7 SUB 2,443,000.00 5,188.03 0.00 B-5 81743PEH5 SUB 1,465,000.00 3,111.12 0.00 B-6 81743PEJ1 SUB 3,908,267.00 8,299.71 0.00 A-R 81743PEC6 RES 0.00 0.00 0.00 - -------------------------------------------------------------------------------------- Totals 939,487,195.85 15,498,578.21 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 Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - ---------------------------------------------------------------------------------------------------------------------- A-1 791,768,000.00 769,729,690.28 0.00 12,396,756.25 0.00 0.00 12,396,756.25 X-1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 A-2 150,000,000.00 148,062,097.40 0.00 1,078,102.58 0.00 0.00 1,078,102.58 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 976,938,367.00 952,962,054.68 0.00 13,474,858.83 0.00 0.00 13,474,858.83 - ---------------------------------------------------------------------------------------------------------------------- Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution - ---------------------------------------------------------- A-1 757,332,934.03 0.95650864 12,396,756.25 X-1 0.00 0.00000000 0.00 A-2 146,983,994.82 0.97989330 1,078,102.58 X-2 0.00 0.00000000 0.00 B-1 14,166,000.00 1.00000000 0.00 X-B 0.00 0.00000000 0.00 B-2 8,304,000.00 1.00000000 0.00 B-3 4,884,000.00 1.00000000 0.00 B-4 2,443,000.00 1.00000000 0.00 B-5 1,465,000.00 1.00000000 0.00 B-6 3,908,267.00 1.00000000 0.00 A-R 0.00 0.00000000 0.00 - ---------------------------------------------------------- Totals 939,487,195.85 0.96166476 13,474,858.83 - ----------------------------------------------------------
(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-1 791,768,000.00 972.16569788 0.00000000 15.65705642 0.00000000 0.00000000 15.65705642 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 150,000,000.00 987.08064933 0.00000000 7.18735053 0.00000000 0.00000000 7.18735053 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 Total Certificate Certificate Principal Class Balance Percentage Distribution - -------------------------------------------------------- A-1 956.50864146 0.95650864 15.65705642 X-1 0.00000000 0.00000000 0.00000000 A-2 979.89329880 0.97989330 7.18735053 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 Current Certificate/ Current Unpaid Current Non-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% 769,729,690.28 910,846.80 0.00 0.00 0.00 X-1 0.00 0.80000% 811,091,949.88 540,727.97 0.00 0.00 0.00 A-2 150,000,000.00 1.56000% 148,062,097.40 192,480.73 0.00 0.00 0.00 X-2 0.00 0.39875% 917,791,787.68 304,975.26 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 0.61445% 22,470,000.00 11,505.51 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 2.54836% 4,884,000.00 10,371.81 0.00 0.00 0.00 B-4 2,443,000.00 2.54836% 2,443,000.00 5,188.03 0.00 0.00 0.00 B-5 1,465,000.00 2.54836% 1,465,000.00 3,111.12 0.00 0.00 0.00 B-6 3,908,267.00 2.54836% 3,908,267.00 8,299.71 0.00 0.00 0.00 A-R 100.00 2.55434% 0.00 0.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------------------------------------- Totals 976,938,367.00 2,023,719.39 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - ------------------------------------------------------------------- A-1 0.00 910,846.80 0.00 757,332,934.03 X-1 0.00 540,727.96 0.00 781,251,166.47 A-2 0.00 192,480.73 0.00 146,983,994.82 X-2 0.00 304,975.26 0.00 904,316,928.85 B-1 0.00 19,950.45 0.00 14,166,000.00 X-B 0.00 11,505.51 0.00 22,470,000.00 B-2 0.00 16,262.00 0.00 8,304,000.00 B-3 0.00 10,371.81 0.00 4,884,000.00 B-4 0.00 5,188.03 0.00 2,443,000.00 B-5 0.00 3,111.12 0.00 1,465,000.00 B-6 0.00 8,299.71 0.00 3,908,267.00 A-R 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------- Totals 0.00 2,023,719.38 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 Original Face Certificate Certificate/ Current Accrued Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall - ------------------------------------------------------------------------------------------------------------ A-1 791,768,000.00 1.42000% 972.16569788 1.15039608 0.00000000 0.00000000 X-1 0.00 0.80000% 861.24390495 0.57416261 0.00000000 0.00000000 A-2 150,000,000.00 1.56000% 987.08064933 1.28320487 0.00000000 0.00000000 X-2 0.00 0.39875% 974.54127522 0.32383268 0.00000000 0.00000000 B-1 14,166,000.00 1.69000% 1000.00000000 1.40833333 0.00000000 0.00000000 X-B 0.00 0.61445% 1000.00000000 0.51203872 0.00000000 0.00000000 B-2 8,304,000.00 2.35000% 1000.00000000 1.95833333 0.00000000 0.00000000 B-3 4,884,000.00 2.54836% 1000.00000000 2.12363022 0.00000000 0.00000000 B-4 2,443,000.00 2.54836% 1000.00000000 2.12363078 0.00000000 0.00000000 B-5 1,465,000.00 2.54836% 1000.00000000 2.12363140 0.00000000 0.00000000 B-6 3,908,267.00 2.54836% 1000.00000000 2.12362922 0.00000000 0.00000000 A-R 100.00 2.55434% 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Non-Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class (5) Shortfall Loss (6) Distribution Shortfall Balance - ------------------------------------------------------------------------------------------ A-1 0.00000000 0.00000000 1.15039608 0.00000000 956.50864146 X-1 0.00000000 0.00000000 0.57416260 0.00000000 829.55798718 A-2 0.00000000 0.00000000 1.28320487 0.00000000 979.89329880 X-2 0.00000000 0.00000000 0.32383268 0.00000000 960.23323032 B-1 0.00000000 0.00000000 1.40833333 0.00000000 1000.00000000 X-B 0.00000000 0.00000000 0.51203872 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 1.95833333 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.12363022 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.12363078 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.12363140 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.12362922 0.00000000 1000.00000000 A-R 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 15,795,996.06 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 17,437.62 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 15,813,433.68 Withdrawals Reimbursement for Servicer Advances 10,587.12 Payment of Service Fee 304,268.35 Payment of Interest and Principal 15,498,578.21 ------------- Total Withdrawals (Pool Distribution Amount) 15,813,433.68 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 299,900.62 Master Servicing Fee 4,367.73 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 304,268.35 ==========
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 18 7,264,911.77 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 495,000.00 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 --------- ------------ -------- --------- -------- -------- 19 7,759,911.77 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 0.658376% 0.773283% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.036576% 0.052688% 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% -------- ----------- -------- -------- -------- -------- 0.694952% 0.825971% 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 18 7,264,911.77 60 Days 0 0.00 60 Days 1 495,000.00 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 19 7,759,911.77 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 0.658376% 0.773283% 60 Days 0.000000% 0.000000% 60 Days 0.036576% 0.052688% 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% 0.694952% 0.825971%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 17,437.62
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 3.74356001% 96.256440% 0.000000% Class X-1 35,170,267.00 3.60004973% 35,170,267.00 3.74356001% 0.000000% 0.000000% Class X-2 35,170,267.00 3.60004973% 35,170,267.00 3.74356001% 0.000000% 0.000000% Class B-1 21,004,267.00 2.15000943% 21,004,267.00 2.23571615% 1.507844% 40.278341% Class B-2 12,700,267.00 1.30000698% 12,700,267.00 1.35182970% 0.883886% 23.610853% Class B-3 7,816,267.00 0.80007780% 7,816,267.00 0.83197164% 0.519858% 13.886730% Class B-4 5,373,267.00 0.55001085% 5,373,267.00 0.57193616% 0.260035% 6.946208% Class B-5 3,908,267.00 0.40005257% 3,908,267.00 0.41600003% 0.155936% 4.165450% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.416000% 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 14 5,889,539.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 495,000.00 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 --------- ------------ -------- -------- --------- -------- 15 6,384,539.00 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 0.690676% 0.880058% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.049334% 0.073967% 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% --------- ------------ -------- -------- -------- -------- 0.740010% 0.954025% 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 14 5,889,539.00 60 Days 0 0.00 60 Days 1 495,000.00 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 15 6,384,539.00 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 0.690676% 0.880058% 60 Days 0.000000% 0.000000% 60 Days 0.049334% 0.073967% 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% 0.740010% 0.954025%
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 4 1,375,372.77 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 --------- ------------ -------- -------- -------- -------- 4 1,375,372.77 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 0.854701% 0.901371% 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% --------- ------------ -------- -------- -------- -------- 0.854701% 0.901371% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL - -------------------------------------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 00-29 Days 0 0.00 0-29 Days 0 0.00 330 Days 0 0.00 30 Days 4 1,375,372.77 660 Days 0 0.00 60 Days 0 0.00 990 Days 0 0.00 90 Days 0 0.00 1120 Days 0 0.00 120 Days 0 0.00 1150 Days 0 0.00 150 Days 0 0.00 1180+ Days 0 0.00 180+ Days 0 0.00 -------- --------- -------- ------------ 0 0.00 4 1,375,372.77 No. of Principal No. of Principal Loans Balance Loans Balance 00-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 330 Days 0.000000% 0.000000% 30 Days 0.854701% 0.901371% 660 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 990 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 1120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 1150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 1180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- ------------ 0.000000% 0.000000% 0.854701% 0.901371%
COLLATERAL STATEMENT
Collateral Description Mixed Arm - ---------------------- --------- Weighted Average Gross Coupon 2.931476% Weighted Average Net Coupon 2.553832% Weighted Average Pass-Through Rate 2.548332% Weighted Average Maturity (Stepdown Calculation) 318 Beginning Scheduled Collateral Loan Count 2,761 Number of Loans Paid in Full 27 Ending Scheduled Collateral Loan Count 2,734 Beginning Scheduled Collateral Balance 952,962,055.63 Ending Scheduled Collateral Balance 939,487,196.80 Ending Actual Collateral Balance at 30-Apr-2004 939,489,273.45 Monthly P&I Constant 2,327,987.76 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 15,423,889.59 Ending Scheduled Balance for Premium Loans 939,487,196.80 Scheduled Principal 0.00 Unscheduled Principal 13,474,858.83
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 2.790659 2.958465 2.920083 2.931476 Weighted Average Net Rate 2.400158 2.582808 2.543515 2.553832 Pass-Through Rate 2.394658 2.577308 2.538015 2.548332 Weighted Average Maturity 303 320 319 318 Record Date 04/30/2004 04/30/2004 04/30/2004 04/30/2004 Principal and Interest Constant 274,700.31 1,679,359.25 373,928.20 2,327,987.76 Beginning Loan Count 240 2,050 471 2,761 Loans Paid in Full 1 23 3 27 Ending Loan Count 239 2,027 468 2,734 Beginning Scheduled Balance 118,122,780.23 681,174,516.98 153,664,758.42 952,962,055.63 Ending Scheduled Balance 117,680,839.55 669,219,701.41 152,586,655.84 939,487,196.80 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 441,940.68 11,954,815.57 1,078,102.58 13,474,858.83 Scheduled Interest 274,700.31 1,679,359.25 373,928.20 2,327,987.76 Servicing Fee 38,439.18 213,240.37 48,221.07 299,900.62 Master Servicing Fee 541.38 3,122.06 704.29 4,367.73 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 235,719.75 1,462,996.82 325,002.84 2,023,719.41 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 96.300800% 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 96.353971% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%