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.


<PAGE>

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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<PAGE>

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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<PAGE>


     (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.

     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.



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<PAGE>

     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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