EXHIBIT 10.1

The Bank of New York
Corporate Trust and Agency Services
5 Penn Plaza, 16th Floor
New York, NY 10001
Patricia O’Neil Manella
(212) 328-7574

Distribution Date: June 28, 2002

SEQUOIA MORTGAGE FUNDING CORPORATION
Collateralized MBS Funding Bonds, Series 2002-A

Certificate Monthly Distribution Summary

                                                                  Beginning Cert
  Pass   Monthly Interest   Additional   Interest Class   CUSIP   Balance  
Through   Amt   Interest   Shortfall

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A-1
  81743UAA3     63,222,497.37       2.440000 %     128,552.41       0.00      
371.54    
A-2
  81743UAB1     15,663,584.25       2.590000 %     33,807.24       0.00      
0.00    
 
           

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Total
            78,886,081.62               162,359.65       0.00       371.54    
 
           

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[Additional columns below]

[Continued from above table, first column(s) repeated]

                                                  Interest   Principal   Total  
Realized   Ending Cert Class   Distribution   Distribution   Distribution  
Losses   Balance

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A-1
    128,552.41       2,007,595.58       2,136,147.99       0.00      
61,214,901.79    
A-2
    33,807.24       221,982.80       255,790.03       0.00       15,441,601.45  
 
 
   

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Total
    162,359.65       2,229,578.38       2,391,938.03       0.00      
76,656,503.25    
 
   

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Current Payment Information

Factors per $1.000

                                                                         
Original Cert                                   Current Pass Class   CUSIP  
Balance   Beginning Factor   Interest Factor   Principal Factor   Ending Factor
  Through

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A-1     81743UAA3     64,761,000.00       976.243377523       1.985028201      
31.000070736       945.243306787       2.440000 % A-2     81743UAB1    
15,861,000.00       987.553385831       2.131469391       13.995510903      
973.557874928       2.590000 %  
 
           

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Total
            80,622,000.00       978.468428275       2.013838001      
27.654714338       950.813713937            
 
           

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Underlying Certificates Monthly Distribution — Group I

                                                          Original   Beginning  
Pass   Interest Series   Class   Balance   Balance   Through   Distribution

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CWMBS 94K
    A1       123,119,000.00       2,730,993.38       5.211787 %     11,861.13  
DLJMA 93-Q18
    1A1       51,833,000.00       670,926.45       6.389213 %     3,572.24  
DLJMA 94-2A
    1A1       85,787,000.00       1,202,192.02       6.924468 %     6,937.12  
ONE 00-2
    2A       152,653,000.00       10,887,699.64       6.226432 %     56,492.93  
RYMS3 92-B
    1A2       7,712,906.00       6,086,972.49       6.321880 %     32,067.59  
SBM7 94-2
    A1       49,384,000.00       1,795,083.13       7.092849 %     10,610.21  
SMS 91-K
    A1       110,588,063.00       1,967,559.07       5.624371 %     9,221.90  
SMS 91-K
    A3       1,917,885.00       1,213,789.09       5.914369 %     5,982.33  
EAGLE 98-1
    M1       46,029,000.00       20,952,314.61       2.840000 %     46,281.34  
INMC 94-R
    M2       4,620,000.00       3,526,437.89       6.804292 %     19,995.76  
INMC 94-V
    B1       3,618,000.00       2,065,219.07       6.546662 %     11,266.91  
INMC 94-X
    B1       2,769,000.00       2,105,807.15       6.487888 %     11,385.20  
INMC 95-C
    B1       12,828,797.00       5,226,545.62       6.991571 %     30,451.47  
INMC 95-T
    A2       65,695,250.00       3,445,456.37       6.519992 %     18,720.29  
 
           

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Total
            718,554,901.00       63,876,995.97               274,846.42  
 
           

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[Additional columns below]

[Continued from above table, first column(s) repeated]

                                                  Principal   Total   Realized  
Interest   Ending Series   Distribution   Distribution   Losses   Shortfall  
Balance

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CWMBS 94K
    168,938.41       180,799.55       0.00       0.00       2,562,054.97  
DLJMA 93-Q18
    54,625.64       58,197.89       0.00       0.00       616,300.81  
DLJMA 94-2A
    2,286.80       9,223.91       0.00       0.00       1,199,905.22  
ONE 00-2
    349,437.27       405,930.21       0.00       0.00       10,538,262.36  
RYMS3 92-B
    612,037.49       644,105.08       0.00       0.00       5,474,935.00  
SBM7 94-2
    96,795.99       107,406.20       0.00       0.00       1,698,287.14  
SMS 91-K
    77,228.28       84,450.19       0.00       0.00       1,890,330.78  
SMS 91-K
    14,261.01       20,243.34       0.00       0.00       1,199,528.08  
EAGLE 98-1
    0.00       46,281.34       0.00       0.00       20,952,314.61  
INMC 94-R
    94,322.03       114,317.79       0.00       70.54       3,432,115.86  
INMC 94-V
    30,533.19       41,800.10       0.00       0.00       2,034,685.88  
INMC 94-X
    37,863.87       49,249.07       0.00       0.00       2,067,943.28  
INMC 95-C
    36,848.91       67,300.38       0.00       0.00       5,189,696.71  
INMC 95-T
    432,416.68       451,136.97       0.00       301.00       3,013,039.69  
 
   

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Total
    2,007,595.58       2,282,442.00       0.00       371.54       61,869,400.39
 
 
   

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Underlying Certificates Monthly Distribution — Group II

                                                      Original   Beginning  
Pass   Interest Series   Class   Balance   Balance   Through   Distribution

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GRCAP 94-HM4
    A1       245,813,000.00       680,232.75       6.616453 %     3,750.61  
INMC 95-E
    B1       4,608,492.00       3,107,976.88       6.580290 %     17,042.82  
PMLT 99-A
    M1       2,914,000.00       2,914,000.00       2.744001 %     6,663.35  
RTC 95-2
    A3       119,696,000.00       9,122,528.59       5.297720 %     40,273.84  
 
           

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Total
            373,031,492.00       15,824,738.22               67,730.62  
 
           

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[Additional columns below]

[Continued from above table, first column(s) repeated]

                                              Principal   Total   Realized  
Interest   Ending Series   Distribution   Distribution   Losses   Shortfall  
Balance

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GRCAP 94-HM4
    51,633.02       55,383.63       0.00       0.00       628,599.72  
INMC 95-E
    4,656.78       21,699.61       0.00       0.00       3,103,320.10  
PMLT 99-A
    0.00       6,663.35       0.00       0.00       2,914,000.00  
RTC 95-2
    165,692.99       205,966.83       0.00       0.00       8,956,835.60  
 
   

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Total
    221,982.80       289,713.42       0.00       0.00       15,602,755.42  
 
   

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Underlying Pool Delinquent Information by Group

                                                                  Loans  
Delinquent 30-59 Days   Delinquent 60-89 Days   Delinquent 90+ Days      
Outstanding  

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Series   Balance   No.   Balance   No.   Balance   No.   Balance

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CWMBS 94K
    10,716,591.08       2       294,252.05       1       254,566.51       1    
  157,916.50  
DLJMA 93-Q18(1)
    4,662,315.70       3       244,960.29       0       0.00       0       0.00
 
DLJMA 94-2A(1)
    1,949,456.18       0       0.00       1       137,383.81       0       0.00
 
ONE 00-2(2)
    578,233,487.00       65       7,311,695.00       14       2,123,303.00      
7       667,900.00  
RYMS3 92-B(2)
    26,069,237.36       18       806,895.59       2       250,704.75       1    
  107,663.42  
SBM7 94-2(2)
    6,543,964.07       1       56,229.72       0       0.00       0       0.00  
SMS 91-K
    6,421,996.78       0       0.00       2       284,428.84       1      
209,643.49  
EAGLE 98-1
    45,613,237.15       21       1,953,714.69       8       802,974.30       23
      2,536,583.04  
INMC 94-R
    10,537,440.72       3       310,052.91       0       0.00       0       0.00
 
INMC 94-V
    9,104,270.73       2       223,303.74       2       359,281.03       2      
152,584.00  
INMC 94-X
    9,917,727.52       7       899,704.35       2       92,040.50       2      
423,284.03  
INMC 95-C
    10,283,206.11       2       197,577.49       0       0.00       0       0.00
 
INMC 95-T(2)
    9,224,624.02       4       509,073.50       0       0.00       0       0.00
 
 
   

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Total
    729,277,554.42       128       12,807,459.33       32       4,304,682.74    
  37       4,255,574.48  
 
   

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[Additional columns below]

[Continued from above table, first column(s) repeated]

                                                  Foreclosure   REO            
 

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  Realized Losses Series   No.   Balance   No.   Balance   Curr. Amount

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CWMBS 94K
    1       243,968.50       0       0.00       0.00  
DLJMA 93-Q18(1)
    2       147,558.39       0       0.00       0.00  
DLJMA 94-2A(1)
    0       0.00       0       0.00       0.00  
ONE 00-2(2)
    45       7,933,452.00       0       0.00       0.00  
RYMS3 92-B(2)
    3       87,319.59       2       140,558.93       0.00  
SBM7 94-2(2)
    2       246,320.26       1       120,955.43       0.00  
SMS 91-K
    1       211,329.14       0       0.00       0.00  
EAGLE 98-1
    33       3,093,332.49       24       3,194,278.49       37,870.42  
INMC 94-R
    3       855,030.50       0       0.00       0.00  
INMC 94-V
    1       194,897.39       0       0.00       0.00  
INMC 94-X
    3       844,765.31       0       0.00       0.00  
INMC 95-C
    3       311,395.63       0       0.00       0.00  
INMC 95-T(2)
    2       459,511.05       0       0.00       0.00  
 
   

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Total
    99       14,628,880.25       27       3,455,792.85       37,870.42  
 
   

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                                                              Loans   Delinquent
30-59 Days   Delinquent 60-89 Days   Delinquent 90+ Days     Outstanding  

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Series   Balance   No.   Balance   No.   Balance   No.   Balance

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GRCAP 94-HM4
    8,702,071.21       2       395,024.74       1       126,436.26       0      
0.00  
INMC 95-E
    16,971,105.46       9       2,257,089.90       3       436,216.96       0  
    0.00  
PMLT 99-A
    45,423,646.11       30       1,757,550.99       8       890,000.39       5  
    319,070.95  
RTC 95-2(1)
    26,718,166.68       5       318,830.60       4       323,545.16       6    
  419,258.19  
 
   

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Total
    97,814,989.46       46       4,728,496.23       16       1,776,198.77      
11       738,329.14  
 
   

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Total All
    827,092,543.88       174       17,535,955.56       48       6,080,881.51    
  48       4,993,903.62  
 
   

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[Additional columns below]

[Continued from above table, first column(s) repeated]

                                              Foreclosure   REO            

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  Realized Losses Series   No.   Balance   No.   Balance   Curr. Amount

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GRCAP 94-HM4
    1       45,817.29       0       0.00       0.00  
INMC 95-E
    5       593,087.50       3       109,586.73       0.00  
PMLT 99-A
    21       1,884,596.75       3       208,892.83       210,222.01  
RTC 95-2(1)
    4       207,137.41       0       0.00       0.00  
 
   

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Total
    31       2,730,638.95       6       318,479.56       210,222.01  
 
   

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Total All
    130       17,359,519.20       33       3,774,272.41       248,092.43  
 
   

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(1)   Information shown for the Underlying Mortgage Loans for this Pooled
Security is based on the Underlying Mortgage Loan group related to such Pooled
Security only. (2)   Information shown for the Underlying Mortgage Loans for
this Pooled Security is based on all the Underlying Mortgage Loan groups in the
related series.

 

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Certificate Account Information

                                                                  Beginning  
Funds   Withdrawals   Management   Available   Funds   Ending Group   Balance  
Deposited   Trustee Fee   Fee   Funds   Distributed   Balance

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  I     0.00       2,282,442.00       1,596.92       4,407.92       2,276,437.16
      2,136,147.99       140,289.16     II     0.00       289,713.42      
395.62       1,092.08       288,225.72       255,790.03       32,435.69        
 

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  Total     0.00       2,572,155.42       1,992.54       5,500.00      
2,564,662.88       2,391,938.03       172,724.85          

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                                  Additional Reporting Items   Pool I   Pool II
  Total

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2.15(a)
  Available Interest     274,846.42       67,730.62       342,577.04  
 
  Available Principal     2,007,595.58       221,982.80       2,229,578.38  
2.15(b)
  Monthly Interest Amt         See p. 1          
2.15(c)
  Carry forward Interest     0.00       0.00       0.00  
2.15(d)
  Principal Paid   See p. 1        
2.15(e)
  Class Print Amts   See p. 1        
2.15(f)
  Beginning Actual OC     1.0246 %     1.0184 %        
 
  Ending Actual OC     1.0579 %     1.0329 %        
2.15(g)
  2nd preceding pool bal     n/a       n/a          
2.15(h)
  Required OC     2.7000 %     2.0000 %        
2.15(i)
  Has Step-up Occurred?                 No            No        
2.15(k)
  Monies Deposited to Reserve Fund     0.00       0.00       0.00  
2.15(l)
  Amts. Dist. to Investor Certificate holders     140,289.16       32,435.69    
  172,724.85  

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    Note: Management Fee is to be paid on an annual basis. This month’s Fee
together with last month’s annualized amount equals the full annual Fee.