<PAGE>
                                                                               .
                                                                               .
                                                                               .

                                 EXHIBIT 10.1

<TABLE>
<CAPTION>
CONTACTS
<S>                   <C>
Administrator:                  Kumar X. Khambhaita
Direct Phone No:                (714) 247-6327
Address:                        Deutsche Bank
                                1761 E. St. Andrew Place
                                Santa Ana, CA 92705

Web Site:             http://www-apps.gis.deutsche-bank.com/invr
Factor Information:             (800) 735-7777
Main Phone No:                  (714) 247-6000
</TABLE>

<TABLE>
<CAPTION>
ISSUANCE INFORMATION
<S>                         <C>                                          <C>                            <C>
Seller:                     Redwood Trust                                Cut-Off Date:                  April 1, 2002
Certificate Insurer:                                                     Closing Date:                  April 26, 2002
Servicer(s):                Cendant Mortgage Corporation                 First Payment Date:            May 20, 2002
                            Morgan Stanley Dean Witter

Underwriter(s):             Greenwich Capital Markets, Inc.              Distribution Date:             March 19, 2003
                            Bear, Stearns & Co. Inc.                     Record Date:                   March 18, 2003
                                                                                                        February 28, 2003
</TABLE>

<PAGE>

                            SEQUOIA MORTGAGE TRUST 6

                          COLLATERALIZED MORTGAGE BONDS

               BOND PAYMENT REPORT FOR MARCH 19, 2002 DISTRIBUTION

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                        Prior                                                                            Current
           Class      Original        Principal                                    Total       Realized   Deferred      Principal
 Class     Type      Face Value        Balance        Interest     Principal    Distribution    Losses    Interest       Balance
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                      (7)=(1)-(3)-
                                         (1)             (2)          (3)        (4)=(2)+(3)      (5)        (6)          (5)+(6)
-----------------------------------------------------------------------------------------------------------------------------------
<S>        <C>    <C>              <C>              <C>           <C>           <C>            <C>        <C>        <C>
LT-A              496,378,000.00   452,107,290.60   1,082,724.63  2,497,457.21  3,580,181.84       -          -      449,609,833.39
LT-A2                     100.00                -              -             -             -       -          -                   -
LT-X                      100.00                -              -             -             -       -          -                   -
LT-B-1              5,915,000.00     5,915,000.00      14,165.48             -     14,165.48       -          -        5,915,000.00
LT-B-2              5,143,000.00     5,143,000.00      12,316.66             -     12,316.66       -          -        5,143,000.00
-----------------------------------------------------------------------------------------------------------------------------------
LT-B-3              2,315,000.00     2,315,000.00       5,544.05             -      5,544.05       -          -        2,315,000.00
LT-B-4              1,534,000.00     1,534,000.00       3,673.68             -      3,673.68       -          -        1,534,000.00
LT-B-5              1,028,000.00     1,028,000.00       2,461.90             -      2,461.90       -          -        1,028,000.00
LT-B-6              2,068,996.83     2,068,996.83       4,954.92             -      4,954.92       -          -        2,068,996.83
LT-R                           -                -              -             -             -       -          -                   -
-----------------------------------------------------------------------------------------------------------------------------------
 Total            514,382,196.83   470,111,287.43   1,125,841.32  2,497,457.21  3,623,298.53       -          -      467,613,830.22
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Interest Accrual Detail          Current Period Factor Information per $1,000 of
                                 Original Face

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                              Orig. Principal      Prior                                                Current
         Period   Period                      (with Notional)    Principal                                 Total       Principal
 Class  Starting  Ending    Method    Cusip       Balance         Balance      Interest    Principal    Distribution    Balance
----------------------------------------------------------------------------------------------------------------------------------
                                                                    (1)           (2)         (3)       (4)=(2)+(3)        (5)
----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>       <C>      <C>        <C>     <C>               <C>            <C>         <C>          <C>           <C>
LT-A                       A-30/360           496,378,000.00      910.812507    2.181250   5.031362       7.212612      905.781145
LT-A2                      A-30/360                   100.00               -           -          -              -               -
LT-X                       A-30/360                   100.00               -           -          -              -               -
LT-B-1                     A-30/360             5,915,000.00    1,000.000000    2.394840          -       2.394840    1,000.000000
LT-B-2                     A-30/360             5,143,000.00    1,000.000000    2.394840          -       2.394840    1,000.000000
----------------------------------------------------------------------------------------------------------------------------------
LT-B-3                     A-30/360             2,315,000.00    1,000.000000    2.394838          -       2.394838    1,000.000000
LT-B-4                     A-30/360             1,534,000.00    1,000.000000    2.394837          -       2.394837    1,000.000000
LT-B-5                     A-30/360             1,028,000.00    1,000.000000    2.394844          -       2.394844    1,000.000000
LT-B-6                     A-30/360             2,068,996.83    1,000.000000    2.394842          -       2.394842    1,000.000000
LT-R                       A-30/360                        -               -           -          -              -               -
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Distribution in Dollars - to Date

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                        Current
            Original                    Unscheduled   Scheduled       Total         Total       Realized  Deferred     Principal
Class      Face Value       Interest     Principal    Principal     Principal    Distribution    Losses   Interest      Balance
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                      (9)=(1)-(5)-
              (1)             (2)            (3)         (4)       (5)=(3)+(4)    (6)=(2)+(5)      (7)       (8)          (7)+(8)
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>            <C>            <C>         <C>            <C>            <C>       <C>        <C>
LT-A    496,378,000.00  13,973,399.20  46,768,166.61      -       46,768,166.61  60,741,565.81      -         -      449,609,833.39
LT-A2           100.00           0.27         100.00      -              100.00         100.27      -         -                   -
LT-X            100.00              -         100.00      -              100.00         100.00      -         -                   -
LT-B-1    5,915,000.00     174,036.07              -      -                   -     174,036.07      -         -        5,915,000.00
LT-B-2    5,143,000.00     151,321.65              -      -                   -     151,321.65      -         -        5,143,000.00
LT-B-3    2,315,000.00      68,113.87              -      -                   -      68,113.87      -         -        2,315,000.00
LT-B-4    1,534,000.00      45,134.61              -      -                   -      45,134.61      -         -        1,534,000.00
LT-B-5    1,028,000.00      30,246.69              -      -                   -      30,246.69      -         -        1,028,000.00
LT-B-6    2,068,996.83      60,875.77              -      -                   -      60,875.77      -         -        2,068,996.83
LT-R                 -              -              -      -                   -              -      -         -                   -

-----------------------------------------------------------------------------------------------------------------------------------
Total   514,382,196.83  14,503,128.13  46,768,366.61        -     46,768,366.61  61,271,494.74      -          -     467,613,830.22
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

Interest Detail

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
           Pass-    Prior Principal                   Non-        Prior     Unscheduled                     Paid or      Current
          Through   (with Notional)     Accrued     Supported     Unpaid      Interest       Optimal        Deferred      Unpaid
Class       Rate        Balance         Interest   Interest SF   Interest   Adjustments      Interest       Interest     Interest
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                            (5)=(1)-
                                          (1)          (2)          (3)         (4)         (2)+(3)+(4)       (6)        (7)=(5)-(6)
-----------------------------------------------------------------------------------------------------------------------------------
<S>       <C>       <C>              <C>           <C>           <C>        <C>             <C>            <C>            <C>
LT-A      2.87381%  452,107,290.60   1,082,724.63       -            -           -          1,082,724.63   1,082,724.63        -
LT-A2     2.87381%               -              -       -            -           -                     -              -        -
     -                           -              -       -            -           -                     -              -        -
LT-B-1    2.87381%    5,915,000.00      14,165.48       -            -           -             14,165.48      14,165.48        -
LT-B-2    2.87381%    5,143,000.00      12,316.66       -            -           -             12,316.66      12,316.66        -
-----------------------------------------------------------------------------------------------------------------------------------
LT-B-3    2.87381%    2,315,000.00       5,544.05       -            -           -              5,544.05       5,544.05        -
LT-B-4    2.87381%    1,534,000.00       3,673.68       -            -           -              3,673.68       3,673.68        -
LT-B-5    2.87381%    1,028,000.00       2,461.90       -            -           -              2,461.90       2,461.90        -
LT-B-6    2.87381%    2,068,996.83       4,954.92       -            -           -              4,954.92       4,954.92        -
LT-R                             -              -       -            -           -                     -              -        -
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Total               470,111,287.43   1,125,841.32       -            -           -          1,125,841.32   1,125,841.32        -
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                      Prior                                                                             Current
        Class       Original        Principal                                        Total      Realized   Deferred    Principal
Class    Type      Face Value        Balance        Interest      Principal      Distribution    Losses    Interest     Balance
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                      (7)=(1)-(3)-
                                       (1)             (2)           (3)          (4)=(2)+(3)      (5)        (6)         (5)+(6)
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>      <C>             <C>               <C>           <C>             <C>            <C>        <C>       <C>
  A      FLT     496,378,000.00  452,107,290.60    624,944.14    2,497,457.21    3,122,401.35       -          -     449,609,833.39
  X      CSTR            100.00               -    467,094.55               -      467,094.55       -          -                  -
 A-R      R              100.00               -             -               -               -       -          -                  -
 B-1     SUB       5,915,000.00    5,915,000.00     10,049.34               -       10,049.34       -          -       5,915,000.00
 B-2     SUB       5,143,000.00    5,143,000.00      8,737.74               -        8,737.74       -          -       5,143,000.00
-----------------------------------------------------------------------------------------------------------------------------------
 B-3     SUB       2,315,000.00    2,315,000.00      3,933.09               -        3,933.09       -          -       2,315,000.00
 B-4     SUB       1,534,000.00    1,534,000.00      3,673.68               -        3,673.68       -          -       1,534,000.00
 B-5     SUB       1,028,000.00    1,028,000.00      2,461.90               -        2,461.90       -          -       1,028,000.00
 B-6     SUB       2,068,996.00    2,068,996.00      4,954.91               -        4,954.91       -          -       2,068,996.00

-----------------------------------------------------------------------------------------------------------------------------------
Total            514,382,196.00  470,111,286.60  1,125,849.35    2,497,457.21    3,623,306.56       -          -     467,613,829.39
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Definitive Bond Record Date: 2/28/03

Interest Accrual Detail      Current Period Factor Information per $1,000 of
                             Original Face

<TABLE>
<CAPTION>
-------------------------------------------------------------------
                                                    Orig. Principal
         Period    Period                           (with Notional)
Class   Starting   Ending     Method      Cusip          Balance
-------------------------------------------------------------------

-------------------------------------------------------------------
<S>     <C>       <C>        <C>        <C>         <C>
  A     02/19/03  03/18/03   A-30/360   81743XAA7   496,378,000.00
  X                          A-30/360   SQ0201UPX           100.00
 A-R                         A-30/360   81743XAC3           100.00
 B-1    02/19/03  03/18/03   A-30/360   81743XAB5     5,915,000.00
 B-2    02/19/03  03/18/03   A-30/360   81743XAD1     5,143,000.00
------------------------------------------------------------------
 B-3    02/19/03  03/18/03   A-30/360   81743XAE9     2,315,000.00
 B-4                         A-30/360   SQ0201UB4     1,534,000.00
 B-5                         A-30/360   SQ0201UB5     1,028,000.00
 B-6                         A-30/360   SQ0201UB6     2,068,996.00

------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
           Prior                                                          Current
         Principal                                         Total         Principal
Class     Balance          Interest      Principal     Distribution       Balance
------------------------------------------------------------------------------------
           (1)               (2)            (3)         (4)=(2)+(3)          (5)
------------------------------------------------------------------------------------
<S>    <C>            <C>                <C>         <C>                <C>
  A      910.812507           1.259009   5.031362            6.290370     905.781145
  X               -   4,670,945.500000          -    4,670,945.500000              -
 A-R              -                  -          -                   -              -
 B-1   1,000.000000           1.698959          -            1.698959   1,000.000000
 B-2   1,000.000000           1.698958          -            1.698958   1,000.000000
------------------------------------------------------------------------------------
 B-3   1,000.000000           1.698959          -            1.698959   1,000.000000
 B-4   1,000.000000           2.394837          -            2.394837   1,000.000000
 B-5   1,000.000000           2.394844          -            2.394844   1,000.000000
 B-6   1,000.000000           2.394838          -            2.394838   1,000.000000

------------------------------------------------------------------------------------
</TABLE>

Interest will accrue on all Bonds on the basis of a 360-day year consisting of
twelve 30-day months.

<PAGE>

Distribution in Dollars - to Date

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                          Current
            Original                     Unscheduled   Scheduled      Total            Total     Realized  Deferred      Principal
Class      Face Value      Interest       Principal    Principal    Principal      Distribution   Losses   Interest       Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                       (9)=(1)-(5)-
               (1)            (2)            (3)           (4)      (5)=(3)+(4)     (6)=(2)+(5)      (7)       (8)         (7)+(8)
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>            <C>        <C>             <C>            <C>       <C>        <C>
  A     496,378,000.00   8,454,122.56   46,768,166.61       -     46,768,166.61   55,222,289.17       -         -     449,609,833.39
  X             100.00   5,629,360.72          100.00       -            100.00    5,629,460.72       -         -                  -
 A-R            100.00           0.27          100.00       -            100.00          100.27       -         -                  -
 B-1      5,915,000.00     125,383.43               -       -                 -      125,383.43       -         -       5,915,000.00
 B-2      5,143,000.00     109,018.95               -       -                 -      109,018.95       -         -       5,143,000.00
 B-3      2,315,000.00      49,072.29               -       -                 -       49,072.29       -         -       2,315,000.00
 B-4      1,534,000.00      45,134.61               -       -                 -       45,134.61       -         -       1,534,000.00
 B-5      1,028,000.00      30,246.69               -       -                 -       30,246.69       -         -       1,028,000.00
 B-6      2,068,996.00      60,875.73               -       -                 -       60,875.73       -         -       2,068,996.00

------------------------------------------------------------------------------------------------------------------------------------
Total   514,382,196.00  14,503,215.25   46,768,366.61       -     46,768,366.61   61,271,581.86       -         -     467,613,829.39
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Interest Detail

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
          Pass-       Prior Principal                     Non-        Prior    Unscheduled                    Paid or      Current
         Through      (with Notional)      Accrued     Supported     Unpaid    Interest         Optimal      Deferred      Unpaid
Class     Rate            Balance         Interest    Interest SF   Interest  Adjustments      Interest      Interest     Interest
------------------------------------------------------------------------------------------------------------------------------------
                                                                                               (5)=(1)-
                                             (1)          (2)         (3)         (4)         (2)+(3)+(4)     (6)        (7)=(5)-(6)
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>         <C>               <C>            <C>           <C>       <C>           <C>           <C>            <C>
  A      1.65875%    452,107,290.60      624,944.14        -           -           -          624,944.14    624,944.14         -
  X      1.20414%                 -      467,094.55        -           -           -          467,094.55    467,094.55         -
 A-R     2.87381%                 -               -        -           -           -                   -             -         -
 B-1     2.03875%      5,915,000.00       10,049.34        -           -           -           10,049.34     10,049.34         -
 B-2     2.03875%      5,143,000.00        8,737.74        -           -           -            8,737.74      8,737.74         -
------------------------------------------------------------------------------------------------------------------------------------
 B-3     2.03875%      2,315,000.00        3,933.09        -           -           -            3,933.09      3,933.09         -
 B-4     2.87381%      1,534,000.00        3,673.68        -           -           -            3,673.68      3,673.68         -
 B-5     2.87381%      1,028,000.00        2,461.90        -           -           -            2,461.90      2,461.90         -
 B-6     2.87381%      2,068,996.00        4,954.91        -           -           -            4,954.91      4,954.91         -

------------------------------------------------------------------------------------------------------------------------------------
Total                470,111,286.60    1,125,849.35        -           -           -        1,125,849.35  1,125,849.35         -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                       COLLECTION ACCOUNT REPORT

<TABLE>
<CAPTION>
SUMMARY                                                 TOTAL
-----------------------------------------------------------------
<S>                                                 <C>
Principal Collections                               2,497,457.21
Principal Withdrawals                                       0.00
Principal Other Accounts                                    0.00
TOTAL PRINCIPAL                                     2,497,457.21

Interest Collected                                  1,138,670.22
Interest Withdrawals                                        0.00
Interest Other Accounts                                     8.04
Fees                                                  (12,828.90)
TOTAL INTEREST                                      1,125,849.36

TOTAL AVAILABLE TO CERTIFICATEHOLDERS               3,623,306.57

-----------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - COLLECTIONS                                 TOTAL
-----------------------------------------------------------------
<S>                                                 <C>
Scheduled Principal                                         0.00
Curtailments                                          453,858.11
Prepayments In Full                                 2,043,599.10
Repurchased Principal Amounts                               0.00
Substitution Principal Amount                               0.00
Liquidations                                                0.00
Insurance Principal                                         0.00
Other Principal                                             0.00
Total Realized Loss Of Principal                            0.00

TOTAL PRINCIPAL COLLECTED                           2,497,457.21

-----------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

PRINCIPAL - WITHDRAWALS                                 TOTAL
-----------------------------------------------------------------
<S>                                                     <C>

                     SPACE INTENTIONALLY LEFT BLANK
-----------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - OTHER ACCOUNTS                              TOTAL
-----------------------------------------------------------------
<S>                                                     <C>
Amounts remaining in Pre-Funding Account                0.00
-----------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
INTEREST - COLLECTIONS                                 TOTAL
-----------------------------------------------------------------
<S>                                                <C>
Scheduled Interest                                  1,274,911.23
Repurchased Interest                                        0.00
Substitution Interest Amount                                0.00
Liquidation Interest                                        0.00
Insurance Interest                                          0.00
Other Interest                                              0.00

Delinquent Interest                                (1,174,599.95)
Interest Advanced                                   1,038,358.94
Prepayment Interest Shortfalls                         (1,679.87)
Compensating Interest                                   1,679.87
Civil Relief Act Shortfalls                                 0.00

TOTAL INTEREST COLLECTED                            1,138,670.22

-----------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - WITHDRAWALS                                  TOTAL
-------------------------------------------------------------
<S>                                                     <C>
Current Nonrecoverable Advances                          0.00

TOTAL INTEREST WITHDRAWALS                               0.00
-------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - OTHER ACCOUNTS                               TOTAL
--------------------------------------------------------------
<S>                                                     <C>
Basis Risk Shortfall                                     0.00
Basis Risk Reserve Fund Interest Earnings                8.04

TOTAL INTEREST OTHER ACCOUNTS                            8.04
--------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - FEES                                          TOTAL
----------------------------------------------------------------
<S>                                                    <C>
Current Servicing Fees                                 11,261.86
Trustee Fee                                             1,567.04

TOTAL FEES                                             12,828.90
----------------------------------------------------------------
</TABLE>

<PAGE>

                           CREDIT ENHANCEMENT REPORT

<TABLE>
<CAPTION>


ACCOUNTS                                                       TOTAL
---------------------------------------------------------------------
<S>                                                          <C>
BASIS RISK RESERVE FUND

Beginning Balance                                            10,000.00
Basis Risk Deposit                                                0.00
Basis Risk Shortfall paid                                         0.00
Investment Earnings distributed to the Class X Bondholder         8.04
Ending Balance                                               10,000.00
----------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INSURANCE                                                    TOTAL
------------------------------------------------------------------
<S>                                                          <C>
                         SPACE INTENTIONALLY LEFT BLANK
------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
STRUCTURAL FEATURES                                 TOTAL
-----------------------------------------------------------
<S>                                              <C>
Pro Rata Senior Percentage                        96.170269%
Senior Percentage                                100.000000%
Subordinate Percentage                             0.000000%
Senior Prepayment Percentage                     100.000000%
Subordinate Percentage                             0.000000%

-----------------------------------------------------------
</TABLE>

<PAGE>

                         COLLATERAL REPORT

<TABLE>
<CAPTION>
COLLATERAL                                            TOTAL
----------------------------------------------------------------
<S>                                               <C>
   Loan Count:
ORIGINAL                                                    1254
Prior                                                      1,159
Prefunding                                                     -
Scheduled Paid Offs                                            -
Full Voluntary Prepayments                                    (6)
Repurchases                                                    -
Liquidations                                                   -
----------------------------------------------------------------
Current                                                    1,153

PRINCIPAL BALANCE:
Original                                          514,382,196.83
Prior                                             470,111,287.43
Prefunding                                                     -
Scheduled Principal                                            -
Partial and Full Voluntary Prepayments             (2,497,457.21)
Repurchases                                                    -
Liquidations                                                   -
----------------------------------------------------------------
Current                                           467,613,830.22
----------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PREFUNDING                                                        TOTAL
-----------------------------------------------------------------------
<S>                                                               <C>
                        SPACE INTENTIONALLY LEFT BLANK
-----------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
CHARACTERISTICS                                                 TOTAL
-----------------------------------------------------------------------
<S>                                                            <C>
Weighted Average Coupon Original                               3.667751%
Weighted Average Coupon Prior                                  3.407823%
Weighted Average Coupon Current                                3.254322%
-----------------------------------------------------------------------
Weighted Average Months to Maturity Original                        297
Weighted Average Months to Maturity Prior                           288
Weighted Average Months to Maturity Current                         287
-----------------------------------------------------------------------
Weighted Avg Remaining Amortization Term Original                   296
Weighted Avg Remaining Amortization Term Prior                      287
Weighted Avg Remaining Amortization Term Current                    286
-----------------------------------------------------------------------
Weighted Average Seasoning Original                                3.66
Weighted Average Seasoning Prior                                  12.63
Weighted Average Seasoning Current                                13.63

-----------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<PAGE>

<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                      TOTAL
--------------------------------------------------------------
<S>                                                     <C>
Weighted Average Margin Original                         1.652%
Weighted Average Margin Prior                            1.645%
Weighted Average Margin Current                          1.644%
--------------------------------------------------------------
Weighted Average Max Rate Original                      12.000%
Weighted Average Max Rate Prior                         12.000%
Weighted Average Max Rate Current                       12.000%
--------------------------------------------------------------
Weighted Average Min Rate Original                       1.652%
Weighted Average Min Rate Prior                          1.645%
Weighted Average Min Rate Current                        1.644%
--------------------------------------------------------------
Weighted Average Cap Up Original                         0.000%
Weighted Average Cap Up Prior                            0.000%
Weighted Average Cap Up Current                          0.000%
--------------------------------------------------------------
Weighted Average Cap Down Original                       0.000%
Weighted Average Cap Down Prior                          0.000%
Weighted Average Cap Down Current                        0.000%

--------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES                                   TOTAL
--------------------------------------------------------------------
<S>                                                     <C>
Current Servicing Fees                                     11,261.86
Delinquent Servicing Fees                                 136,241.01
TOTAL SERVICING FEES                                      147,502.87

Total Servicing Fees                                      147,502.87
Compensating Interest                                      (1,679.87)
Delinquent Servicing Fees                                (136,241.01)
COLLECTED SERVICING FEES                                    9,581.99

Prepayment Interest Shortfall                               1,679.87

Total Advanced Interest                                 1,038,358.94

Current Nonrecoverable Advances                                 0.00
--------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL COLLATERAL INFORMATION                            TOTAL
----------------------------------------------------------------------
<S>                                                      <C>
Mortgage Loans which adjust based on One-Month LIBOR              0.00
Mortgage Loans which adjust based on Six-Month LIBOR              0.00

Special Hazard Loss Coverage Amount                       5,800,000.00
Current Special Hazard Losses                                     0.00
Cumulative Special Hazard Losses                                  0.00
Bankruptcy Loss Coverage Amount                             100,000.00
Current Bankruptcy Losses                                         0.00
Cumulative Bankruptcy Losses                                      0.00
Fraud Loss Coverage Amount                               15,431,466.00
Current Fraud Losses                                              0.00
Cumulative Fraud Losses                                           0.00

----------------------------------------------------------------------
</TABLE>

<PAGE>

                           DELINQUENCY REPORT - TOTAL

<TABLE>
<CAPTION>
                                          <1 PAYMENT        1 PAYMENT          2 PAYMENTS         3+ PAYMENTS          TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>               <C>             <C>                  <C>                <C>               <C>
DELINQUENT              Balance                           996,239.30                 -                  -          996,239.30
                        % Balance                               0.21%              0.00%              0.00%               0.21%
                        # Loans                                    4                  -                  -                   4
                        % # Loans                               0.35%              0.00%              0.00%               0.35%
------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE             Balance                 -                  -                  -                  -                   -
                        % Balance            0.00%              0.00%              0.00%              0.00%               0.00%
                        # Loans                 -                  -                  -                  -                   -
                        % # Loans            0.00%              0.00%              0.00%              0.00%               0.00%
------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY              Balance                 -                  -                  -                  -                   -
                        % Balance            0.00%              0.00%              0.00%              0.00%               0.00%
                        # Loans                 -                  -                  -                  -                   -
                        % # Loans            0.00%              0.00%              0.00%              0.00%               0.00%
------------------------------------------------------------------------------------------------------------------------------
REO                     Balance                 -                  -                  -                  -                   -
                        % Balance            0.00%              0.00%              0.00%              0.00%               0.00%
                        # Loans                 -                  -                  -                  -                   -
                        % # Loans            0.00%              0.00%              0.00%              0.00%               0.00%
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
TOTAL                   Balance                 -         996,239.30                  -                  -          996,239.30
                        % Balance            0.00%              0.21%              0.00%              0.00%               0.21%
                        # Loans                 -                  4                  -                  -                   4
                        % # Loans            0.00%              0.35%              0.00%              0.00%               0.35%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note:  <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days,
       3+ Payments = 90+

<PAGE>

     REO Report - Mortgage Loans that Become REO During Current Distribution

<TABLE>
<CAPTION>
SUMMARY                                                                 LOAN GROUP
-----------------------------------------------------------------------------------------------------------
<S>                                                <C>
Total Loan Count =   0                             Loan Group 1  =  MSDW Group;   REO Book Value  =  000.00
Total Original Principal Balance =   000.00
Total Current Balance =   000.00
REO Book Value =   000.00

------------------------------------------------------------------------------------------------------------
</TABLE>

REO Book Value reported corresponds to total REO loans, including loans that
become REO during current distribution.

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
Loan Number      Original        Stated                    Current       State &
     &           Principal     Principal     Paid to        Note         LTV at       Original      Origination
Loan Group        Balance       Balance       Date          Rate      Origination      Term            Date
-------------------------------------------------------------------------------------------------------------------
<S>              <C>           <C>           <C>           <C>        <C>             <C>           <C>
                         SPACE INTENTIONALLY LEFT BLANK
-------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

   FORECLOSURE REPORT - MORTGAGE LOANS THAT BECOME FORECLOSURE DURING CURRENT
   DISTRIBUTION

<TABLE>
<CAPTION>
SUMMARY                                                                 LOAN GROUP
-------------------------------------------------------------------------------------------
<S>                                                             <C>
Total Loan Count =   0                                          Loan Group 1  =  MSDW Group
Total Original Principal Balance =   000.00
Total Current Balance =   000.00
-------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Loan Number        Original        Stated                           Current      State &
     &             Principal      Principal         Paid to          Note         LTV at          Original      Origination
Loan Group          Balance        Balance           Date            Rate       Origination         Term            Date
-----------------------------------------------------------------------------------------------------------------------------
<S>                <C>            <C>               <C>             <C>         <C>               <C>           <C>
                         SPACE INTENTIONALLY LEFT BLANK
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                    PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS                                              TOTAL
----------------------------------------------------------------------------
<S>                                                            <C>
CURRENT
Number of Paid in Full Loans                                               6
Number of Repurchased Loans                                                -

----------------------------------------------------------------------------
Total Number of Loans Prepaid in Full                                      6

Paid in Full Balance                                            2,043,599.10
Repurchased Loans Balance                                                  -
Curtailments Amount                                               453,858.11
----------------------------------------------------------------------------
Total Prepayment Amount                                         2,497,457.21

CUMULATIVE
Number of Paid in Full Loans                                             101
Number of Repurchased Loans                                                -
----------------------------------------------------------------------------
Total Number of Loans Prepaid in Full                                    101

Paid in Full Balance                                           39,488,150.06
Repurchased Loans Balance                                                  -
Curtailments Amount                                             7,280,216.55
----------------------------------------------------------------------------
Total Prepayment Amount                                        46,768,366.61

                         SPACE INTENTIONALLY LEFT BLANK
----------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENT RATES                                 TOTAL
----------------------------------------------------------------
<S>                                                       <C>
SMM                                                         0.53%
3 Months Avg SMM                                            0.85%
12 Months Avg SMM
Avg SMM Since Cut-off                                       0.86%

CPR                                                         6.19%
3 Months Avg CPR                                            9.77%
12 Months Avg CPR
Avg CPR Since Cut-off                                       9.88%

PSA                                                       227.14%
3 Months Avg  PSA Approximation                           386.74%
12 Months Avg PSA Approximation
Avg PSA Since Cut-off Approximation                       571.26%

----------------------------------------------------------------
</TABLE>

<PAGE>

PREPAYMENT CALCULATION METHODOLOGY
-------------------------------------------------------------------------------

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments +
Repurchases)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM) to the power of 12)

PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) *
(1-SMMn+1) *.......*(1-SMMm)] to the power of (1/months in period n,m) Average
CPR over period between the nth month and mth month (AvgCPRn,m):
1-((1-AvgSMMn,m) to the power of 12)

Average PSA Approximation over period between the nth month and mth month:
AvgCPRn,m/(0.02*Avg WASn,m))

Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of
months in the period n,m)

Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial
       and full voluntary prepayments and repurchases.

       Dates correspond to distribution dates.

------------------------------------------------------------------------------
<PAGE>

  PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION

<TABLE>
<CAPTION>
SUMMARY                                                                                        LOAN GROUP
-------------------------------------------------------------------------------------------------------------------
<S>                                                                                 <C>
Total Loan Count =   6                                                              Loan Group 1    =    MSDW Group
Total Original Principal Balance =   2,043,920.00
Total Prepayment Amount =   2,043,599.10

--------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Loan Number              Original                                      Current      State &         Type Prepayment
     &          Loan    Principal       Prepayment       Prepayment      Note        LTV at                &            Origination
Loan Group     Status    Balance          Amount            Date         Rate     Origination       Original Term             Date
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>      <C>             <C>              <C>           <C>        <C>              <C>                  <C>
390440589 1              84,800.00       84,800.00        Feb-27-03     3.000%    NY  -  80.00%    Paid Off  -  300       Dec-27-01
390443958 1             970,000.00      969,999.96        Feb-17-03     3.000%    IL  -  65.32%    Paid Off  -  300       Dec-19-01
390446187 1             311,920.00      311,866.39        Feb-18-03     4.000%    FL  -  80.00%    Paid Off  -  300       Feb-05-02
390447451 1             205,000.00      205,000.00        Feb-19-03     3.625%    MD  -  34.17%    Paid Off  -  300       Jan-22-02
390447978 1             152,200.00      152,200.00        Feb-26-03     3.625%    LA  -  50.73%    Paid Off  -  300       Jan-29-02
390448379 1             320,000.00      319,732.75        Feb-27-03     3.500%    IL  -  68.09%    Paid Off  -  300       Feb-15-02

------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                        REALIZED LOSS REPORT - COLLATERAL

<TABLE>
<CAPTION>
COLLATERAL REALIZED LOSSES                                     TOTAL
--------------------------------------------------------------------
<S>                                                            <C>
CURRENT
Number of Loans Liquidated                                        -
Collateral Realized Loss/(Gain) Amount                            -
Net Liquidation Proceeds                                          -

CUMULATIVE
Number of Loans Liquidated                                        -
Collateral Realized Loss/(Gain) Amount                            -
Net Liquidation Proceeds                                          -

Note: Collateral Realized Loss Amount may include adjustments to loans
liquidated in prior periods.

                         SPACE INTENTIONALLY LEFT BLANK
</TABLE>
----------------------------------------------------------------------
<TABLE>
<CAPTION>
DEFAULT SPEEDS                                              TOTAL
-----------------------------------------------------------------
<S>                                                         <C>
MDR                                                         0.00%
3 Months Avg MDR                                            0.00%
12 Months Avg MDR
Avg MDR Since Cut-off                                       0.00%

CDR                                                         0.00%
3 Months Avg CDR                                            0.00%
12 Months Avg CDR
Avg CDR Since Cut-off                                       0.00%

SDA                                                         0.00%
3 Months Avg  SDA Approximation                             0.00%
12 Months Avg SDA Approximation
Avg SDA Since Cut-off Approximation                         0.00%

Loss Severity Approximation for Current Period
3 Months Avg Loss Severity Approximation
12 Months Avg Loss Severity Approximation
Avg  Loss Severity Approximation Since Cut-off

-----------------------------------------------------------------
</TABLE>

<PAGE>
COLLATERAL REALIZED LOSS  CALCULATION METHODOLOGY
------------------------------------------------------------------------------
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total
Beg Principal Balance)

Conditional Default Rate (CDR): 1-((1-MDR) to the power of 12)

SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN
(30,WAS)*0.02-0.0095*(WAS-60)))

Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) *
(1-MDRn+1) *.......*(1-MDRm)] to the power of (1/months in period n,m) Average
CDR over period between the nth month and mth month (AvgCDRn,m):
1-((1-AvgMDRn,m) to the power of 12)

Average SDA Approximation over period between the nth month and mth month:

AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN
(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))

Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the
period n,m)

Loss Severity Approximation for current period: sum(Realized Loss Amount)
/sum(Beg Principal Balance of Liquidated Loans)

Average Loss Severity Approximation over period between nth month and mth month:
Avg(Loss Severityn,m)

Note: Default rates are calculated since deal issue date and include
      realized gains and additional realized losses and gains from prior
      periods.

      Dates correspond to distribution dates.
------------------------------------------------------------------------------
<PAGE>

   REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION

<TABLE>
<CAPTION>

             SUMMARY                                                        LOAN GROUP
--------------------------------------------------------------------------------------------------
<S>                                                                <C>
Total Loan Count =   0                                             Loan Group 1    =    MSDW Group
Total Original Principal Balance =   0.00
Total Prior Principal Balance =   0.00
Total Realized Loss Amount =   0.00
Total Net Liquidation Proceeds =   0.00
--------------------------------------------------------------------------------------------------
</TABLE>

Note: Total Realized Loss Amount may include adjustments to loans liquidated in
      prior periods.

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Loan Number              Original         Prior                      Current       State &
     &          Loan     Principal      Principal       Realized      Note          LTV at       Original     Origination
Loan Group     Status     Balance        Balance      Loss/(Gain)     Rate       Origination       Term          Date
--------------------------------------------------------------------------------------------------------------------------
<S>            <C>       <C>            <C>           <C>            <C>         <C>             <C>          <C>
                                                  SPACE INTENTIONALLY LEFT BLANK
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

               TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT

<TABLE>
<CAPTION>
TRIGGER EVENTS                                               TOTAL
------------------------------------------------------------------
<S>                                                          <C>
                    SPACE INTENTIONALLY LEFT BLANK
------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADJUSTABLE RATE CERTIFICATE INFORMATION                     TOTAL
------------------------------------------------------------------
<S>                                                         <C>
                      SPACE INTENTIONALLY LEFT BLANK
------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL INFORMATION                               TOTAL
----------------------------------------------------------
<S>                                                  <C>
Basis Risk Shortfall
Class A                                              0.00
Class B-1                                            0.00
Class B-2                                            0.00
Class B-3                                            0.00
Unpaid Basis Risk Shortfall
Class A                                              0.00
Class B-1                                            0.00
Class B-2                                            0.00
Class B-3                                            0.00
---------------------------------------------------------
</TABLE>