<PAGE>

                                                                    EXHIBIT 10.1
The Bank of New York
Corporate Trust and Agency Services
2 North LaSalle Street, Suite 1020
Chicago, IL  60602
Charles Baker
(312) 827-8576

Distribution Date:  December 1, 2004

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

                    CERTIFICATE MONTHLY DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
----------- ------------- --------------- --------------- ------------ ------------ -------------- ----------- --------------
                             BEGINNING          PASS        INTEREST     PRINCIPAL       TOTAL       REALIZED    ENDING CERT
   CLASS        CUSIP       CERT BALANCE      THROUGH     DISTRIBUTION DISTRIBUTION  DISTRIBUTION     LOSSES       BALANCE
----------- ------------- --------------- --------------- ------------ ------------ -------------- ----------- --------------
<S>         <C>           <C>             <C>             <C>          <C>          <C>            <C>         <C>
   A-1         81743UAA3    9,801,312.81       2.558750%    20,899.26   135,270.13     156,169.39        0.00   9,666,042.68
   A-2         81743UAB1    1,578,028.07       3.108750%     4,088.08    56,609.27      60,697.35        0.00   1,521,418.80
----------- ------------- --------------- --------------- ------------ ------------ -------------- ----------- --------------
     Total                 11,379,340.88                    24,987.34   191,879.40     216,866.74        0.00  11,187,461.48
----------- ------------- --------------- --------------- ------------ ------------ -------------- ----------- --------------
</TABLE>


                           CURRENT PAYMENT INFORMATION
                                FACTORS PER $1.00

<TABLE>
<CAPTION>
--------------- ------------ --------------- -------------- -------------- -------------- --------------- ----------------
                              ORIGINAL CERT     BEGINNING      INTEREST       PRINCIPAL        ENDING       CURRENT PASS
     CLASS          CUSIP        BALANCE         FACTOR         FACTOR         FACTOR          FACTOR          THROUGH
--------------- ------------ --------------- -------------- -------------- -------------- --------------- ----------------
<S>             <C>          <C>             <C>            <C>            <C>            <C>             <C>
     A-1         81743UAA3    64,761,000.00  172.108000245    0.321268267    7.199356168   164.908644077        2.240000%
     A-2         81743UAB1    15,861,000.00  102.364873030    0.203876705    0.824613024   101.540260006        2.390000%
--------------- ------------ --------------- -------------- -------------- -------------- --------------- ----------------
    Total                     80,622,000.00  158.387232455    0.298173485    5.945234452   152.441998003
--------------- ------------ --------------- -------------- -------------- -------------- --------------- ----------------
</TABLE>


             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION -- GROUP I

<TABLE>
<CAPTION>
-------------- ----- -------------- ------------- --------- ------------ ------------ ------------- -------- --------- -------------
                        ORIGINAL     BEGINNING     PASS      INTEREST     PRINCIPAL      TOTAL      REALIZED  INTEREST     ENDING
    SERIES     CLASS    BALANCE       BALANCE     THROUGH   DISTRIBUTION DISTRIBUTION DISTRIBUTION   LOSSES  SHORTFALL    BALANCE
-------------- ----- -------------- ------------- --------- ------------ ------------ ------------- -------- --------- -------------
<S>            <C>   <C>            <C>           <C>         <C>        <C>          <C>           <C>       <C>       <C>
   CWMBS 94K     A1  123,119,000.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
 DLJMA 93-Q18   1A1   51,833,000.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
  DLJMA 94-2A   1A1   85,787,000.00    364,787.84 5.254300%     1,597.25     1,163.79      2,761.04     0.00      0.00    363,624.06
   ONE 00-2      2A  152,653,000.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
  RYMS3 92-B    1A2    7,712,906.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
   SBM7 94-2     A1   49,384,000.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
   SMS 91-K      A1  110,588,063.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
   SMS 91-K      A3    1,917,885.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
  EAGLE 98-1     M1   46,029,000.00 11,090,388.11 2.615000%    26,584.59   478,011.45    504,596.04     0.00      0.00 10,612,376.66
   INMC 94-R     M2    4,620,000.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
   INMC 94-V     B1    3,618,000.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
   INMC 94-X     B1    2,769,000.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
   INMC 95-C     B1   12,828,797.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
   INMC 95-T     A2   65,695,250.00          0.00 0.000000%         0.00         0.00          0.00     0.00      0.00          0.00
-------------- ----- -------------- ------------- --------- ------------ ------------ ------------- -------- --------- -------------
         Total       718,554,901.00 11,455,175.95              28,181.84   479,175.24    507,357.08     0.00      0.00 10,976,000.72
-------------- ----- -------------- ------------- --------- ------------ ------------ ------------- -------- --------- -------------
</TABLE>
<PAGE>
            UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION -- GROUP II

<TABLE>
<CAPTION>
-------------- ----- -------------- ------------ --------- ------------ ------------ ------------- --------- --------- ------------
                        ORIGINAL    BEGINNING     PASS      INTEREST     PRINCIPAL      TOTAL      REALIZED  INTEREST    ENDING
   SERIES      CLASS    BALANCE      BALANCE     THROUGH   DISTRIBUTION DISTRIBUTION DISTRIBUTION   LOSSES   SHORTFALL   BALANCE
-------------- ----- -------------- ------------ --------- ------------ ------------ ------------- --------- --------- ------------
<S>            <C>   <C>            <C>          <C>       <C>          <C>          <C>           <C>       <C>        <C>
GRCAP 94-HM4     A1  245,813,000.00   269,061.54 3.845381%      862.20        801.06      1,663.26      0.00      0.00   268,260.48
  INMC 95-E      B1    4,608,492.00         0.00 0.000000%        0.00          0.00          0.00      0.00      0.00         0.00
  PMLT 99-A      M1    2,914,000.00 1,387,682.59 2.997504%    3,466.32     12,545.05     16,011.37      0.00      0.00 1,375,137.54
  RTC 95-2       A3  119,696,000.00         0.00 0.000000%        0.00          0.00          0.00      0.00      0.00         0.00
-------------- ----- -------------- ------------ --------- ------------ ------------ ------------- --------- --------- ------------
        Total        373,031,492.00 1,656,744.13              4,328.52     13,346.11     17,674.63      0.00      0.00 1,643,398.02
-------------- ----- -------------- ------------ --------- ------------ ------------ ------------- --------- --------- ------------
</TABLE>


                 UNDERLYING POOL DELINQUENT INFORMATION BY GROUP

<TABLE>
<CAPTION>
---------------------- ---------------- ----------------------- ---------------------- --------------------- ---------------------
                            LOANS
                         OUTSTANDING    DELINQUENT 30-59 DAYS   DELINQUENT 0-89 DAYS   DELINQUENT 90+ DAYS       FORECLOSURE

       SERIES              BALANCE       NO.      BALANCE        NO.       BALANCE      NO.      BALANCE      NO.      BALANCE
---------------------- ---------------- ----- ----------------- ----- ---------------- ----- --------------- ----- ---------------
<S>                    <C>              <C>   <C>               <C>   <C>              <C>   <C>             <C>   <C>
      CWMBS 94K                   0.00     0              0.00     0             0.00     0            0.00     0            0.00
   DLJMA 93-Q18(1)                0.00     0              0.00     0             0.00     0            0.00     0            0.00
   DLJMA 94-2A(1)           590,770.96     0              0.00     0             0.00     0            0.00     0            0.00
     ONE 00-2(2)                  0.00     0              0.00     0             0.00     0            0.00     0            0.00
    RYMS3 92-B(2)                 0.00     0              0.00     0             0.00     0            0.00     0            0.00
    SBM7 94-2(2)                  0.00     0              0.00     0             0.00     0            0.00     0            0.00
      SMS 91-K                    0.00     0              0.00     0             0.00     0            0.00     0            0.00
     EAGLE 98-1          17,970,035.51     4        764,069.87     1       118,791.10    10    1,612,916.24    22    1,684,404.78
      INMC 94-R                   0.00     0              0.00     0             0.00     0            0.00     0            0.00
      INMC 94-V                   0.00     0              0.00     0             0.00     0            0.00     0            0.00
      INMC 94-X                   0.00     0              0.00     0             0.00     0            0.00     0            0.00
      INMC 95-C                   0.00     0              0.00     0             0.00     0            0.00     0            0.00
    INMC 95-T(2)                  0.00     0              0.00     0             0.00     0            0.00     0            0.00
---------------------- ---------------- ----- ----------------- ----- ---------------- ----- --------------- ----- ---------------
        Total            18,560,806.47     4        764,069.87     1       118,791.10    10    1,612,916.24    22    1,684,404.78
---------------------- ---------------- ----- ----------------- ----- ---------------- ----- --------------- ----- ---------------
</TABLE>

<TABLE>
<CAPTION>
---------------------- --------------------- ---------------

                               REO              REALIZED
                                                 LOSSES
       SERIES           NO.     BALANCE       CURR. AMOUNT
---------------------- ----- --------------- ---------------
<S>                    <C>   <C>             <C>
      CWMBS 94K           0            0.00            0.00
   DLJMA 93-Q18(1)        0            0.00            0.00
   DLJMA 94-2A(1)         0            0.00            0.00
     ONE 00-2(2)          0            0.00            0.00
    RYMS3 92-B(2)         0            0.00            0.00
    SBM7 94-2(2)          0            0.00            0.00
      SMS 91-K            0            0.00            0.00
     EAGLE 98-1          10    1,321,938.31            0.00
      INMC 94-R           0            0.00            0.00
      INMC 94-V           0            0.00            0.00
      INMC 94-X           0            0.00            0.00
      INMC 95-C           0            0.00            0.00
    INMC 95-T(2)          0            0.00            0.00
---------------------- ----- --------------- ---------------
        Total            10    1,321,938.31            0.00
---------------------- ----- --------------- ---------------
</TABLE>


<TABLE>
<CAPTION>
---------------------- ---------------- ----------------------- ---------------------- --------------------- ---------------------
                            LOANS
                         OUTSTANDING    DELINQUENT 30-59 DAYS   DELINQUENT 60-89 DAYS  DELINQUENT 90+ DAYS       FORECLOSURE

       SERIES              BALANCE       NO.       BALANCE       NO.       BALANCE      NO.      BALANCE      NO.      BALANCE
---------------------- ---------------- ----- ----------------- ----- ---------------- ----- --------------- ----- ---------------
<S>                    <C>              <C>   <C>               <C>   <C>              <C>   <C>             <C>   <C>
    GRCAP 94-HM4          3,718,453.78     0              0.00     0             0.00     0            0.00     0            0.00
      INMC 95-E                   0.00     0              0.00     0             0.00     0            0.00     0            0.00
      PMLT 99-A          21,152,732.15    30      1,622,157.89    11       484,792.25     4      333,059.10    12      661,787.54
     RTC 95-2(1)                  0.00     0              0.00     0             0.00     0            0.00     0            0.00
---------------------- ---------------- ----- ----------------- ----- ---------------- ----- --------------- ----- ---------------
        Total            24,871,185.93    30      1,622,157.89    11       484,792.25     4      333,059.10    12      661,787.54
---------------------- ---------------- ----- ----------------- ----- ---------------- ----- --------------- ----- ---------------

---------------------- ---------------- ----- ----------------- ----- ---------------- ----- --------------- ----- ---------------
      Total All          43,431,992.40    34      2,386,227.76    12       603,583.35    14    1,945,975.34    34    2,346,192.32
---------------------- ---------------- ----- ----------------- ----- ---------------- ----- --------------- ----- ---------------
</TABLE>

<TABLE>
<CAPTION>
---------------------- --------------------- --------------

                               REO              REALIZED
                                                 LOSSES
       SERIES           NO.      BALANCE      CURR. AMOUNT
---------------------- ----- --------------- ---------------
<S>                    <C>   <C>             <C>
    GRCAP 94-HM4          0            0.00            0.00
      INMC 95-E           0            0.00            0.00
      PMLT 99-A           3      160,737.41            0.00
     RTC 95-2(1)          0            0.00            0.00
---------------------- ----- --------------- ---------------
        Total             3      160,737.41            0.00
---------------------- ----- --------------- ---------------

---------------------- ----- --------------- ---------------
      Total All          13    1,482,675.72            0.00
---------------------- ----- --------------- ---------------
</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                                                                ENDING
GROUP   BEGINNING BALANCE FUNDS DEPOSITED   TRUSTEE FEE     MANAGEMENT FEE     AVAILABLE FUNDS   FUNDS DISTRIBUTED     BALANCE
------- ----------------- --------------- ---------------- ------------------ ------------------ ------------------ --------------
<S>     <C>               <C>             <C>              <C>                <C>                <C>                <C>
  I           0.00             507,357.08          286.38               0.00         507,070.70         487,043.16      20,027.54
 II           0.00              17,674.63           41.42               0.00          17,633.21          16,312.88       1,320.34
------- ----------------- --------------- ---------------- ------------------ ------------------ ------------------ --------------
  Total       0.00             525,031.71          327.80               0.00         524,703.91         503,356.03      21,347.88
------- ----------------- --------------- ---------------- ------------------ ------------------ ------------------ --------------
</TABLE>



<TABLE>
<CAPTION>
------------------------------------------------------- ---------------- ---------------- --------------------
               ADDITIONAL REPORTING ITEMS                    POOL I           POOL II             TOTAL
-------------- ---------------------------------------- ---------------- ---------------- --------------------
<S>            <C>                                      <C>              <C>              <C>
2.15(a)        Available Interest                             28,181.84         4,328.52            32,510.37
--------------------------------------------------------------------------------------------------------------
               Available Principal                           479,175.24        13,346.11           492,521.35
--------------------------------------------------------------------------------------------------------------
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                              2.7000%          2.0000%
--------------------------------------------------------------------------------------------------------------
               Ending Actual OC                                 2.7000%          2.0000%
--------------------------------------------------------------------------------------------------------------
2.15(g)        2nd preceding pool bal                     20,950,576.42    25,075,211.61        46,025,788.03
--------------------------------------------------------------------------------------------------------------
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                             20,027.54         1,320.34            21,347.88
-------------- ---------------------------------------- ---------------- ---------------- --------------------
</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.