Exhibit 99.3


          INDEPENDENT AUDITOR'S ANNUAL SERVICER COMPLIANCE CERTIFICATE


TO THE DIRECTORS OF INTERSTAR SECURITISATION MANAGEMENT PTY LIMITED


SCOPE


We  have  reviewed   Interstar   Securities   (Australia)   Pty  Limited's  (the
"Servicer's")  activities for the purpose of determining its compliance with the
servicing standards contained in the Master Trust Deed dated 2 December 1999 and
the Investment  Management  Agreement dated 3 December 1999,  (collectively  the
"Documents"),  attached as Appendix 1, in relation to the  Interstar  Millennium
Series  2002-1G Trust and the  Interstar  Millennium  Series  2003-1G Trust (the
"Trusts") for the year ended 30 June 2003,  in accordance  with the statement by
the Division of Corporation  Finance of the  Securities and Exchange  Commission
dated 21 February 2003, and our engagement letter dated 19 December 2003.

We have reviewed the servicing standards contained in the Documents to enable us
to report on whether those servicing standards are similar to those contained in
the Uniform Single Attestation  Program for Mortgage Bankers ("USAP"),  attached
as Appendix 2, which  establishes  a minimum  servicing  standard  for the asset
backed securities  market in the United States of America.  No equivalent of the
USAP exists in Australia.

The  management  of the Servicer is  responsible  for  maintaining  an effective
internal control  structure  including  internal control policies and procedures
relating to the servicing of mortgage  loans.  We have  conducted an independent
review of the servicing  standards included in Appendix 1, in order to express a
statement on the  Servicer's  compliance  with them to Interstar  Securitisation
Management Pty Limited.

Our review of the  servicing  standards has been  conducted in  accordance  with
Australian  Auditing Standards  applicable to performance audits and accordingly
included  such  tests  and   procedures  as  we  considered   necessary  in  the
circumstances.  In conducting our review we have also had regard to the guidance
contained in the USAP.  These  procedures  have been  undertaken to enable us to
report on whether  anything has come to our attention to indicate that there has
been  significant  deficiencies in the Servicer's  compliance with the servicing
standards contained in the Documents for the year ended 30 June 2003.

Our review did not  include  an  assessment  of the  adequacy  of the  servicing
standards themselves.

This  statement  has  been  prepared  for  the use of  Interstar  Securitisation
Management Pty Limited as at 30 June 2003 in accordance with the requirements of
the  statement  by the Division of  Corporation  Finance of the  Securities  and
Exchange  Commission dated 21 February 2003, and the engagement  letter dated 19
December 2003. We disclaim any assumption of responsibility  for any reliance on
this  review  statement,  to any  person  other  than  Interstar  Securitisation
Management Pty Limited.




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STATEMENT

Based on our review:

o  Nothing  has  come to our  attention  to  indicate  that  there  has been any
   significant  deficiencies in Interstar  Securities  (Australia) Pty Limited's
   compliance  with the servicing  standards  contained in the Master Trust Deed
   dated  2  December  1999  and the  Investment  Management  Agreement  dated 3
   December 1999, attached as Appendix 1, in respect of the Interstar Millennium
   Series 2002-1G Trust and the Interstar  Millennium  Series 2003-1G Trust (the
   "Trusts") for the year ended 30 June 2003;

o  The servicing  standards  contained in the Master Trust Deed dated 2 December
   1999 and the Investment Management Agreement dated 9 July 2002 are similar to
   the minimum servicing  standards  contained in the Uniform Single Attestation
   Program for Mortgage Bankers ("USAP").



KPMG


DM Scammell
Partner


Melbourne, Australia


23 December 2003




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APPENDIX 1


INTERSTAR  SECURITIES   (AUSTRALIA)  PTY  LIMITED  (THE  "SERVICER")   SERVICING
STANDARDS


The following servicing standards are contained in the Master Trust Deed dated 2
December 1999 and the Investment Management Agreement dated 3 December 1999.


(a)    (notice  of  default)  give  notice in  writing  to the  Trustee  and the
       Designated  Rating Agency of it becoming  aware of the  occurrence of any
       Servicer Transfer Event;

(b)    (compliance with law)

       (i)    maintain  in  effect  all  qualifications,   consents,   licenses,
              permits, approvals,  exemptions,  filings and registrations as may
              be required  under any applicable law in order properly to service
              the Loans and Loan  Securities  and to perform or comply  with its
              obligations under this agreement; and

       (ii)   comply with all Laws in  connection  with  servicing the Loans and
              Loan Securities;


(c)    (Default) upon becoming aware that any default has occurred in respect of
       any Loan:

       (i)    promptly notify the Mortgage Insurer of that default in accordance
              with the provisions of the relevant Mortgage Insurance Policy;

       (ii)   subject to obtaining  the prior  consent of the Mortgage  Insurer,
              promptly take such action as the Servicer  considers  necessary in
              relation to such default, including:

              (A)    serving any notice of default upon the Obligor or any other
                     party;

              (B)    instituting and conducting  legal  proceedings  against the
                     Obligor or any other party; and

              (C)    taking  all  necessary  steps and  engaging  all  necessary
                     persons  to  sell  the  Subject  Property  pursuant  to the
                     exercise of the power of sale  authorised  by the  relevant
                     Loan Security; and

       (iii)  otherwise  enforce the Loan and Loan Security in  accordance  with
              the directions and requirements of the Mortgage Insurer;


(d)    (Insurance Policies)

       (i)    enter into:

              (A)    Mortgage Insurance Policies; and

              (B)    General Insurance Policies,

              for and on behalf  of and in the name of the  Trustee  and/or  the
              mortgagee  of a Loan  Security  whenever  required  to do so,  and
              ensure  that the  Trustee's  and/or  mortgagee's  interest is duly
              noted and/or endorsed upon all such contracts;

       (ii)   ensure by its conduct that no Mortgage Insurance Policy or General
              Insurance  Policy in  relation  to the  Loans and Loan  Securities
              become invalid, unenforceable or lapse; and




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       (iii)  not commit, or allow or cause to be committed, any act or omission
              whereby any Mortgage  Insurance Policy or General Insurance Policy
              may be rendered void or voidable at the option of the insurer.

(e)    (no security  interests)  not consent to the creation or existence of any
       Security Interest in favour of a third party in relation to any Mortgaged
       Property in connection  with a Loan and the Loan Security  (other than as
       contemplated by the relevant Transaction Documents):

       (i)    without   limiting   sub-paragraph   (e)(ii),    unless   priority
              arrangements  are  entered  into with that third party under which
              the third party  acknowledges that the Loan and Loan Security rank
              ahead  in  priority  to  the  third  party  Security  Interest  on
              enforcement  for an amount not less than the Unpaid Balance of the
              Loan  plus  such  other  amount  as  the  Servicer  determines  in
              accordance with its ordinary course of business; or

       (ii)   which would rank before or pari passu with the  relevant  Loan and
              Loan Security;

(f)    (vary terms) not agree to any variation, amendment or modification of any
       of the terms and  conditions  of any Loan or Loan Security or do any act,
       matter or thing which could constitute a diminution,  restriction, waiver
       or modification of the Trustee's  rights under that Loan or Loan Security
       without the Trustee's prior written consent.

(g)    (other miscellaneous things) procure the stamping and registration of all
       Relevant  Documents for each Relevant Trust  (including  documents  which
       became  Relevant  Documents)  following any amendment,  consolidation  or
       other action,  and in the case of any  registration  of any Mortgage that
       registration  will result in the Mortgage having the ranking  referred to
       in the relevant eligibility criteria in the Series Notice. In relation to
       any Mortgage  that is not  registered at the relevant  Closing Date,  the
       Servicer will procure that it is lodged for  registration  not later than
       30 days after that Closing Date;

(h)    (setting the investment  rate) set the Investment  Rate in respect of any
       Relevant Trust as 0.25% higher than the percentage  rate of return on the
       Purchased  Loans,  and taking into account the percentage  rate of return
       being earned on other Authorised Investments, which it determines will be
       necessary to ensure that the Trustee has sufficient cash available at all
       times to enable the Trustee to pay all payments of Interest in respect of
       the Relevant Trust and otherwise  comply with all of the Trustee's duties
       and  obligations  under the relevant  Transactions  Documents as and when
       they fall due, including payment of any Approved Seller's Fee as and when
       it falls due.

(i)    (notification) notify:

       (i)    the Trustee and the Trust Manager of any event which it reasonably
              believes  is  likely  to have an  Adverse  Effect  promptly  after
              becoming aware of such event; and

       (ii)   the Trust  Manager  of  anything  else  which  the  Trust  Manager
              reasonably  requires  regarding any proposed  modification  to the
              terms of any Loan or Loan Security;

(j)    (provide   information  and  access  on  request)   provide   information
       reasonably requested by the Trustee or the Trust Manager, with respect to
       all  matters  relating  to each  Relevant  Trust  and the  assets  of the
       relevant Trust, and the Trustee or the Trust Manager believes  reasonably
       necessary  for  it  to  perform  its   obligations   under  the




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<PAGE>

       relevant  Transaction  Documents,  and  upon  reasonable  notice  and  at
       reasonable  times permit the Trustee to inspect the Data Base in relation
       to each Relevant Trust and the Relevant Documents;

(k)    (comply with other obligations) comply with all its obligations under any
       Transaction Document to which it is a party;

(l)    (pay taxes)  subject to receiving  payment from, or being  reimbursed by,
       the relevant Obligor or being  indemnified by the Trustee,  pay all Taxes
       that relate to the Services (other than any Tax on the income of a Trust)
       or ensure  those Taxes are paid or where such Taxes are  incurred  due to
       the default or breach of duty by the Servicer;

(m)    (not claim) not claim any Security Interest over any Asset (other than in
       accordance with the relevant Transaction Documents);

(n)    (comply with Series Notice) comply with any  undertaking  specified as an
       additional  Servicer  undertaking in a relevant Series Notice,  including
       providing  the Trust  Manager  with any  information  referred to in that
       Series Notice;

(o)    (account to Trustee)  regularly  account to the Trustee in such manner as
       prescribed by the Trustee from time to time;

(p)    (enforce Loans) enforce the Trustee's rights pursuant to or in connection
       with the Loans in accordance  with the  directions of the Trustee in that
       regard and ensure prompt compliance by the Obligor under each Loan;

(q)    (act as directed by Trustee)  take all or any  necessary  steps which the
       Trustee  may direct the  Servicer  to take to ensure  that the  Trustee's
       rights  pursuant  to or in  connection  with  the  Loans  are  in no  way
       diminished, restricted or modified;

(r)    (performing  or   non-performing   Loans)  determine  whether  Loans  are
       performing or non-performing as required by the Master Trust Deed and the
       Series Notice for the Relevant Trust; and

(s)    (collect  moneys) arrange to collect all moneys paid or payable under the
       Loans  and Loan  Securities  and pay them  into the  relevant  Collection
       Account.



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<PAGE>


APPENDIX 2


THE UNIFORM SINGLE ATTESTATION PROGRAM


MINIMUM SERVICING STANDARDS


A.     CUSTODIAL BANK ACCOUNTS

       1.     Reconciliations  shall be  prepared  on a  monthly  basis  for all
              custodial bank accounts and related bank clearing accounts.  These
              reconciliation's shall:

              o      Be mathematically accurate;

              o      Be prepared within  forty-five (45) calendar days after the
                     cutoff date;

              o      Be reviewed and  approved by someone  other than the person
                     who prepared the reconciliation; and

              o      Document   explanations   for  reconciling   items.   These
                     reconciling  items  shall be  resolved  within  ninety (90)
                     calendar days of their original identification.

       2.     Funds of the  servicing  entity  shall be  advanced in cases where
              there is an overdraft in an investor's or a mortgagor's account.

       3.     Each custodial  account shall be maintained at a federally insured
              depository institution in trust for the applicable investor.

       4.     Escrow  funds held in trust for a  mortgagor  shall be returned to
              the  mortgagor  within  thirty (30) calendar days of payoff of the
              mortgage loan.

B.     MORTGAGE PAYMENTS

       1.     Mortgage  payments  shall be  deposited  into the  custodial  bank
              accounts and related bank  clearing  accounts  within two business
              days of receipt.

       2.     Mortgage  payments made in accordance  with the  mortgagor's  loan
              documents  shall be posted  to the  applicable  mortgagor  records
              within two business days of receipt.

       3.     Mortgage  payments  shall be  allocated  to  principal,  interest,
              insurance,  taxes or other  escrow  items in  accordance  with the
              mortgagor's loan documents.

       4.     Mortgage payments identified as loan payoffs shall be allocated in
              accordance with the mortgagor's loan documents.

C.     DISBURSEMENTS

       1.     Disbursements  made via wire  transfer on behalf of a mortgagor or
              investor shall be made only by authorized personnel.




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<PAGE>

     2.   Disbursements  made on  behalf of a  mortgagor  or  investor  shall be
          posted  within two  business  days to the  mortgagor's  or  investor's
          records maintained by the servicing entity.


     3.   Tax and insurance  payments  shall be made on or before the penalty or
          insurance  policy  expiration  dates,  as  indicated  on tax bills and
          insurance  premium notices,  respectively,  provided that such support
          has  been  received  by the  servicing  entity  at least  thirty  (30)
          calendar days prior to these dates.


     4.   Any late payment penalties paid in conjunction with the payment of any
          tax bill or insurance  premium notice shall be paid from the servicing
          entity's  funds and not  charged  to the  mortgagor,  unless  the late
          payment was due to the mortgagor's error or omission.


     5.   Amounts  remitted to investors  per the  servicer's  investor  reports
          shall  agree  with  cancelled  checks,  or other form of  payment,  or
          custodial bank statements.


     6.   Unissued  checks shall be  safeguarded  so as to prevent  unauthorized
          access.

D.     INVESTOR ACCOUNTING AND REPORTING

       1.     The  servicing  entity's  investor  reports  shall agree with,  or
              reconcile  to,  investors'  records  on a monthly  basis as to the
              total unpaid principal balance and number of loans serviced by the
              servicing entity.

E.     MORTGAGOR LOAN ACCOUNTING

       1.     The servicing  entity's mortgage loan records shall agree with, or
              reconcile to, the records of mortgagors with respect to the unpaid
              principal balance on a monthly basis.

       2.     Adjustments  on ARM loans shall be  computed  based on the related
              mortgage note and any ARM rider.

       3.     Escrow  accounts  shall  be  analyzed,   in  accordance  with  the
              mortgagor's loan documents, on at least an annual basis.

       4.     Interest  on  escrow  accounts  shall be  paid,  or  credited,  to
              mortgagors  in  accordance  with the  applicable  state  laws.  (A
              compilation  of state laws  relating to the payment of interest on
              escrow  accounts  may be obtained  through the MBA's FAX ON DEMAND
              service. For more information, contact MBA.)

F.     DELINQUENCIES

       1.     Records documenting  collection efforts shall be maintained during
              the  period a loan is in  default  and shall be  updated  at least
              monthly.  Such records shall  describe the entity's  activities in
              monitoring delinquent loans including,  for example,  phone calls,
              letters and mortgage payment rescheduling plans in cases where the
              delinquency is deemed temporary (e.g., illness or unemployment).





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<PAGE>

G.     INSURANCE POLICIES

       1.     A fidelity-bond and errors and omissions policy shall be in effect
              on the servicing  entity  throughout  the reporting  period in the
              amount  of  coverage  represented  to  investors  in  management's
              assertion.




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