<PAGE>








                                                          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:  September 30, 2003




                      SEQUOIA MORTGAGE FUNDING CORPORATION
                 COLLATERALIZED MBS FUNDING BONDS, SERIES 2002-A

                    CERTIFICATE MONTHLY DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
                                                     BEGINNING                    PASS                  INTEREST
     CLASS                 CUSIP                    CERT BALANCE                 THROUGH              DISTRIBUTION
-------------------------------------------------------------------------------------------------------------------
<S>                <C>                     <C>                      <C>                        <C>
      A-1                      81743UAA3            33,275,093.22                  1.710000%             47,417.01
      A-2                      81743UAB1            11,210,892.49                  1.860000%             17,376.88
-------------------------------------------------------------------------------------------------------------------
           Total                                    44,485,985.70                                        64,793.89
-------------------------------------------------------------------------------------------------------------------
</TABLE>



<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
                           PRINCIPAL                    TOTAL                REALIZED              ENDING CERT
     CLASS                DISTRIBUTION              DISTRIBUTION              LOSSES                 BALANCE
----------------------------------------------------------------------------------------------------------------
<S>                   <C>                    <C>                    <C>                  <C>
      A-1                     1,035,062.51           1,082,479.51                0.00            32,240,030.71
      A-2                       605,168.45             622,545.33                0.00            10,605,724.03
----------------------------------------------------------------------------------------------------------------
           Total              1,640,230.96           1,705,024.85                0.00            42,845,754.75
----------------------------------------------------------------------------------------------------------------

</TABLE>










                          CURRENT PAYMENT INFORMATION
                               FACTORS PER $1.00

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
                                                        ORIGINAL CERT               BEGINNING               INTEREST
        CLASS                   CUSIP                      BALANCE                     FACTOR                 FACTOR
------------------------------------------------------------------------------------------------------------------------
<S>                      <C>                   <C>                       <C>                       <C>
         A-1                  81743UAA3                  64,761,000.00             513.813764743            0.732184615
         A-2                  81743UAB1                  15,861,000.00             706.821290286            1.095573000
------------------------------------------------------------------------------------------------------------------------
        Total                                            80,622,000.00             551.784695291            0.803675066
------------------------------------------------------------------------------------------------------------------------

</TABLE>




<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
                                      PRINCIPAL                  ENDING                   CURRENT PASS
        CLASS                          FACTOR                    FACTOR                      THROUGH
--------------------------------------------------------------------------------------------------------
<S>                        <C>                      <C>                       <C>
         A-1                         15.982806102             497.830958641                   1.710000%
         A-2                         38.154495334             668.666794952                   1.860000%
--------------------------------------------------------------------------------------------------------
        Total                        20.344706860             531.439988431
--------------------------------------------------------------------------------------------------------

</TABLE>







             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION - GROUP I

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                            ORIGINAL                 BEGINNING              PASS
          SERIES                  CLASS                     BALANCE                   BALANCE              THROUGH
----------------------------------------------------------------------------------------------------------------------
<S>                           <C>              <C>                        <C>                      <C>
         CWMBS 94K                  A1                   123,119,000.00               369,019.03            3.737097%
       DLJMA 93-Q18                1A1                    51,833,000.00                     0.00            0.000000%
        DLJMA 94-2A                1A1                    85,787,000.00               580,442.29            4.822201%
         ONE 00-2                   2A                   152,653,000.00             5,852,774.43            4.153171%
        RYMS3 92-B                 1A2                     7,712,906.00                     0.00            0.000000%
         SBM7 94-2                  A1                    49,384,000.00             1,093,844.67            5.749773%
         SMS 91-K                   A1                   110,588,063.00                     0.00            0.000000%
         SMS 91-K                   A3                     1,917,885.00                     0.00            0.000000%
        EAGLE 98-1                  M1                    46,029,000.00            16,303,925.72            2.110000%
         INMC 94-R                  M2                     4,620,000.00             2,119,585.70            4.127352%
         INMC 94-V                  B1                     3,618,000.00             1,268,072.61            4.223531%
         INMC 94-X                  B1                     2,769,000.00               982,711.05            4.369736%
         INMC 95-C                  B1                    12,828,797.00             3,614,612.92            4.372428%
         INMC 95-T                  A2                    65,695,250.00             1,744,603.40            3.631345%
----------------------------------------------------------------------------------------------------------------------
                      Total                              718,554,901.00            33,929,591.82
----------------------------------------------------------------------------------------------------------------------

</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
                                     INTEREST              PRINCIPAL                     TOTAL             REALIZED
          SERIES                   DISTRIBUTION           DISTRIBUTION               DISTRIBUTION           LOSSES
-----------------------------------------------------------------------------------------------------------------------
<S>                             <C>                   <C>                    <C>                       <C>
         CWMBS 94K                         1,149.22              64,120.75                 65,269.97               0.00
       DLJMA 93-Q18                            0.00                   0.00                      0.00               0.00
        DLJMA 94-2A                        2,332.51               1,313.66                  3,646.17               0.00
         ONE 00-2                         20,256.31             421,536.28                441,792.60               0.00
        RYMS3 92-B                             0.00                   0.00                      0.00               0.00
         SBM7 94-2                         5,241.13               4,800.80                 10,041.93               0.00
         SMS 91-K                              0.00                   0.00                      0.00               0.00
         SMS 91-K                              0.00                   0.00                      0.00               0.00
        EAGLE 98-1                        29,623.33             327,477.18                357,100.51               0.00
         INMC 94-R                         7,290.23              47,332.26                 54,622.49               0.00
         INMC 94-V                         4,463.12              93,416.88                 97,880.00               0.00
         INMC 94-X                         3,578.49              38,324.91                 41,903.40               0.00
         INMC 95-C                        13,170.53              32,712.98                 45,883.51               0.00
         INMC 95-T                         5,279.38               4,026.80                  9,306.18               0.00
------------------------------------------------------------------------------------------------------------------------
                      Total               92,384.25           1,035,062.51              1,127,446.75
------------------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>
-------------------------------------------------------------------------
                                  INTEREST              PRINCIPAL
          SERIES                  SHORTFALL          ENDING BALANCE
-------------------------------------------------------------------------
<S>                            <C>               <C>
         CWMBS 94K                        0.00                304,898.28
       DLJMA 93-Q18                       0.00                      0.00
        DLJMA 94-2A                       0.00                579,128.64
         ONE 00-2                         0.00              5,431,238.14
        RYMS3 92-B                        0.00                      0.00
         SBM7 94-2                        0.00              1,089,043.86
         SMS 91-K                         0.00                      0.00
         SMS 91-K                         0.00                      0.00
        EAGLE 98-1                        0.00             15,976,448.54
         INMC 94-R                        0.00              2,072,253.44
         INMC 94-V                        0.00              1,174,655.73
         INMC 94-X                        0.00                944,386.14
         INMC 95-C                        0.00              3,581,899.94
         INMC 95-T                        0.00              1,740,576.60
-------------------------------------------------------------------------
                      Total               0.00             32,894,529.31
-------------------------------------------------------------------------

</TABLE>




<PAGE>







             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION - GROUP II

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                           ORIGINAL                 BEGINNING              PASS
          SERIES                  CLASS                    BALANCE                   BALANCE              THROUGH
--------------------------------------------------------------------------------------------------------------------------------
<S>                           <C>              <C>                        <C>                      <C>
       GRCAP 94-HM4                 A1                   245,813,000.00               401,105.43            4.467707%
         INMC 95-E                  B1                     4,608,492.00             2,584,832.73            4.480418%
         PMLT 99-A                  M1                     2,914,000.00             1,861,035.66            2.283664%
         RTC 95-2                   A3                   119,696,000.00             6,525,072.63            3.328468%
--------------------------------------------------------------------------------------------------------------------------------
                      Total                              373,031,492.00            11,372,046.45
--------------------------------------------------------------------------------------------------------------------------------

</TABLE>



<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                   INTEREST              PRINCIPAL                    TOTAL                  REALIZED
          SERIES                 DISTRIBUTION           DISTRIBUTION               DISTRIBUTION               LOSSES
--------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>                   <C>                    <C>                       <C>
       GRCAP 94-HM4                       1,493.35              19,244.66                 20,738.01               0.00
         INMC 95-E                        9,650.94             184,487.65                194,138.59               0.00
         PMLT 99-A                        3,541.65              43,505.05                 47,046.70               0.00
         RTC 95-2                        18,098.75             357,931.09                376,029.84               0.00
--------------------------------------------------------------------------------------------------------------------------------
                      Total              32,784.69             605,168.45                637,953.14               0.00
--------------------------------------------------------------------------------------------------------------------------------

</TABLE>



<TABLE>
<CAPTION>
--------------------------------------------------------------------------
                                  INTEREST                   ENDING
          SERIES                  SHORTFALL                 BALANCE
--------------------------------------------------------------------------
<S>                             <C>               <C>

       GRCAP 94-HM4                        0.00                381,860.77
         INMC 95-E                         0.00              2,400,345.08
         PMLT 99-A                         0.00              1,817,530.61
         RTC 95-2                          0.00              6,167,141.54
--------------------------------------------------------------------------
                      Total                0.00             10,766,878.00
--------------------------------------------------------------------------
</TABLE>












                 UNDERLYING POOL DELINQUENT INFORMATION BY GROUP

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
                                                 LOANS
                                              OUTSTANDING           DELINQUENT 30-59 DAYS
              SERIES                            BALANCE          NO.               BALANCE
------------------------------------------------------------------------------------------------------
<S>                                  <C>                        <C>        <C>
            CWMBS 94K                            7,790,032.69          1                    90,919.69
         DLJMA 93-Q18(1)                                 0.00          0                         0.00
          DLJMA 94-2A(1)                           940,895.91          0                         0.00
           ONE 00-2(2)                         229,234,066.30         64                 5,432,381.00
          RYMS3 92-B(2)                                  0.00          0                         0.00
           SBM7 94-2(2)                          3,805,867.47          1                    82,359.60
             SMS 91-K                                    0.00          0                         0.00
            EAGLE 98-1                          24,776,656.70         17                 1,629,993.81
            INMC 94-R                            6,366,053.00          0                         0.00
            INMC 94-V                            5,301,738.68          0                         0.00
            INMC 94-X                            4,448,062.93          2                   345,177.17
            INMC 95-C                            7,041,789.29          1                    78,932.21
           INMC 95-T(2)                          6,146,628.19          3                 1,098,231.24
------------------------------------------------------------------------------------------------------
              Total                            295,851,791.16         89                 8,757,994.72
------------------------------------------------------------------------------------------------------

</TABLE>





<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
                                         DELINQUENT 0-89 DAYS                  DELINQUENT 90+ DAYS
              SERIES                   NO.              BALANCE              NO.             BALANCE
--------------------------------------------------------------------------------------------------------------
<S>                                   <C>        <C>                        <C>        <C>
            CWMBS 94K                        1                 180,490.59          0                     0.00
         DLJMA 93-Q18(1)                     0                       0.00          0                     0.00
          DLJMA 94-2A(1)                     0                       0.00          0                     0.00
           ONE 00-2(2)                      13               1,392,749.00         12             2,101,397.00
          RYMS3 92-B(2)                      0                       0.00          0                     0.00
           SBM7 94-2(2)                      0                       0.00          0                     0.00
             SMS 91-K                        0                       0.00          0                     0.00
            EAGLE 98-1                       5                 267,928.38         18             2,156,163.99
            INMC 94-R                        0                       0.00          0                     0.00
            INMC 94-V                        0                       0.00          0                     0.00
            INMC 94-X                        2                 229,202.31          1                47,237.86
            INMC 95-C                        0                       0.00          0                     0.00
           INMC 95-T(2)                      1                  79,514.59          1               163,432.36
--------------------------------------------------------------------------------------------------------------
              Total                         22               2,149,884.87         32             4,468,231.21
--------------------------------------------------------------------------------------------------------------

</TABLE>




<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                             FORECLOSURE                             REO                       REALIZED LOSSES
              SERIES                   NO.             BALANCE             NO.             BALANCE               CURR. AMOUNT
------------------------------------------------------------------------------------------------------------------------------------
<S>                                   <C>        <C>                      <C>        <C>                      <C>
            CWMBS 94K                        1               236,045.32          0                     0.00                    0.00
         DLJMA 93-Q18(1)                     0                     0.00          0                     0.00                    0.00
          DLJMA 94-2A(1)                     0                     0.00          0                     0.00                    0.00
           ONE 00-2(2)                      14             1,242,364.00          6             1,891,498.00                    0.00
          RYMS3 92-B(2)                      0                     0.00          0                     0.00                    0.00
           SBM7 94-2(2)                      0                     0.00          0                     0.00              210,938.33
             SMS 91-K                        0                     0.00          0                     0.00                    0.00
            EAGLE 98-1                      23             2,635,661.40         11             1,481,985.55                    0.00
            INMC 94-R                        3             1,395,172.90          0                     0.00                    0.00
            INMC 94-V                        0                     0.00          0                     0.00                    0.00
            INMC 94-X                        1               138,366.69          0                     0.00                    0.00
            INMC 95-C                        3               334,391.92          0                     0.00                    0.00
           INMC 95-T(2)                      0                     0.00          0                     0.00                   14.99
------------------------------------------------------------------------------------------------------------------------------------
              Total                         45             5,982,002.23         17             3,373,483.55              210,953.32
------------------------------------------------------------------------------------------------------------------------------------

</TABLE>






<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
                                                 LOANS
                                              OUTSTANDING               DELINQUENT 30-59 DAYS
              SERIES                            BALANCE              NO.               BALANCE
------------------------------------------------------------------------------------------------------
<S>                                  <C>                        <C>         <C>
           GRCAP 94-HM4                          5,286,320.57          0                         0.00
            INMC 95-E                           11,573,035.48          4                   580,442.51
            PMLT 99-A                           25,721,121.04         36                 2,980,566.23
           RTC 95-2(1)                          18,457,187.10          9                   515,839.90
------------------------------------------------------------------------------------------------------
              Total                             61,037,644.19         49                 4,076,848.64
------------------------------------------------------------------------------------------------------



------------------------------------------------------------------------------------------------------

            Total All                          356,889,455.35        138                12,834,843.36
------------------------------------------------------------------------------------------------------
</TABLE>





<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                              DELINQUENT 60-89 DAYS                 DELINQUENT 90+ DAYS
              SERIES                        NO.              BALANCE              NO.             BALANCE
---------------------------------------------------------------------------------------------------------------
<S>                                     <C>       <C>                        <C>        <C>
           GRCAP 94-HM4                       0                       0.00          0                     0.00
            INMC 95-E                         2                 468,684.98          0                     0.00
            PMLT 99-A                        12                 695,942.37          5               348,097.44
           RTC 95-2(1)                        1                 112,148.96          4               332,468.75
---------------------------------------------------------------------------------------------------------------
              Total                          15               1,276,776.31          9               680,566.19
---------------------------------------------------------------------------------------------------------------



---------------------------------------------------------------------------------------------------------------

            Total All                        37               3,426,661.18         41             5,148,797.40
---------------------------------------------------------------------------------------------------------------
</TABLE>



<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                  FORECLOSURE                                REO                  REALIZED LOSSES
              SERIES                        NO.             BALANCE             NO.             BALANCE             CURR. AMOUNT
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>       <C>                      <C>        <C>                      <C>
           GRCAP 94-HM4                       1                44,499.62          0                     0.00                   0.00
            INMC 95-E                         6               774,974.07          0                     0.00                   0.00
            PMLT 99-A                        18             1,218,754.80          6               231,965.54                   0.00
           RTC 95-2(1)                        1                32,103.06          0                     0.00                   0.00
------------------------------------------------------------------------------------------------------------------------------------
              Total                          26             2,070,331.55          6               231,965.54                   0.00
------------------------------------------------------------------------------------------------------------------------------------



------------------------------------------------------------------------------------------------------------------------------------

            Total All                        71             8,052,333.78         23             3,605,449.09             210,953.32
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>






(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.




<PAGE>


                         CERTIFICATE ACCOUNT INFORMATION

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                            WITHDRAWALS
     GROUP         BEGINNING BALANCE       FUNDS DEPOSITED                  TRUSTEE FEE                    MANAGEMENT FEE
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>                    <C>                          <C>                              <C>
       I                  0.00                      1,127,446.75                           848.24                            0.00
      II                  0.00                        637,953.14                           284.30                            0.00
------------------------------------------------------------------------------------------------------------------------------------
          Total           0.00                      1,765,399.89                         1,132.54                            0.00
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>



<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
     GROUP              AVAILABLE FUNDS               FUNDS DISTRIBUTED            ENDING BALANCE
--------------------------------------------------------------------------------------------------------
<S>                 <C>                            <C>                           <C>
       I                          1,126,598.51                  1,082,479.51                44,119.00
      II                            637,668.84                    622,545.33                15,123.50
--------------------------------------------------------------------------------------------------------
          Total                   1,764,267.35                  1,705,024.85                59,242.51
--------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
              ADDITIONAL REPORTING ITEMS                                 POOL I           POOL II              TOTAL
----------------------------------------------------------------------------------------------------------------------------
<S>        <C>                                             <C>                          <C>              <C>
2.15(a)    Available Interest                                               92,384.25        32,784.69           125,168.94
----------------------------------------------------------------------------------------------------------------------------
           Available Principal                                           1,035,062.51       605,168.45         1,640,230.96
----------------------------------------------------------------------------------------------------------------------------
2.15(b)    Monthly Interest Amt.                           see p. 1
----------------------------------------------------------------------------------------------------------------------------
2.15(c)    Carryforward 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                                                1.9290%          1.4171%
----------------------------------------------------------------------------------------------------------------------------
           Ending Actual OC                                                   1.9897%          1.4968%
----------------------------------------------------------------------------------------------------------------------------
2.15(g)    2nd preceding pool bal                                      320,075,786.69    66,113,086.88       386,188,873.57
----------------------------------------------------------------------------------------------------------------------------
2.15(h)    Required OC                                                        2.7000%           2.000%
----------------------------------------------------------------------------------------------------------------------------
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 Certificateholders                       44,119.00        15,123.50            59,242.51
----------------------------------------------------------------------------------------------------------------------------
</TABLE>


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.