EXHIBIT 99.1

PriceWaterhouseCoopers
[LOGO]
--------------------------------------------------------------------------------
                                                     PricewaterhouseCoopers LLP
                                                     1177 Avenue of the Americas
                                                     New York NY 10036
                                                     Telephone (646) 471 4000
                                                     Facsimile (813) 286 6000


                        REPORT OF INDEPENDENT ACCOUNTANTS




To the Board of Directors and Shareholders
of Equity One, Inc.

We  have  examined  management's  assertion  about  Equity  One,  Inc.  and  its
subsidiaries'  (the "Company")  compliance with the minimum servicing  standards
identified  in the Mortgage  Bankers  Association  of America's  Uniform  Single
Attestation  Program for Mortgage  Bankers ("USAP") as of and for the year ended
November 30, 2002 included in the accompanying management assertion (see Exhibit
I).  Management is responsible  for the Company's  compliance with those minimum
servicing standards. Our responsibility is to express an opinion on management's
assertion about the Company's compliance based on our examination.

Our examination was made in accordance with attestation standards established by
the  American  Institute  of  Certified  Public  Accountants  and,  accordingly,
included  examining,  on a test basis,  evidence about the Company's  compliance
with the minimum servicing  standards and performing such other procedures as we
considered  necessary  in the  circumstances.  We believe  that our  examination
provides a reasonable basis for our opinion.  Our examination does not provide a
legal  determination  on the  Company's  compliance  with the minimum  servicing
standards.

In our  opinion,  management's  assertion  that the  Company  complied  with the
aforementioned minimum servicing standards as of and for the year ended November
30, 2002 is fairly stated, in all material respects.


/s/ PricewaterhouseCoopers LLP
January 31, 2003

<PAGE>

                                                                       Exhibit I
EQUITY ONE
A Popular, Inc. Company
[LOGO]
--------------------------------------------------------------------------------
301 Lippincott Drive                                    Telephone (856) 396-3684
Marlton, NJ 08053                                             Fax (856) 396-2713

January 31, 2003

PricewaterhouseCoopers LLP
1177 Avenue of the Americas
New York, NY 10036

Ladies and Gentlemen:

In connection  with your  examination of our assertion that Equity One, Inc. and
its subsidiaries (the "Company")  complied with the minimum servicing  standards
in the Mortgage  Bankers  Association of America's  Uniform  Single  Attestation
Program for Mortgage  Bankers ("USAP") as of and for the year ended November 30,
2002,  we  recognize  that  obtaining  representations  from us  concerning  the
information  contained in this letter is a significant procedure in enabling you
to express  an  opinion on  management's  assertion  about  compliance  with the
minimum servicing standards. Accordingly, we make the following representations,
which are true to the best of our knowledge and belief in all material respects.

1.   The  Company  is  responsible  for  complying  with the  minimum  servicing
     standards in the USAP.

2.   The Company is responsible  for  establishing  and maintaining an effective
     internal  control  structure  over  compliance  with the minimum  servicing
     standards.

3.   The Company has performed an evaluation  of the Company's  compliance  with
     the minimum servicing standards.

4.   As of and for the year ended  November 30,  2002,  the Company has complied
     with the minimum  servicing  standards in all material  respects  except as
     indicated in Management's Assertion.

5.   The Company has disclosed to you all known instances of noncompliance  with
     the minimum servicing standards.

6.   The  Company  has  made  available  to you  all  documentation  related  to
     compliance with the minimum servicing standards.

7.   The Company has  disclosed any  communications  from  regulatory  agencies,
     internal   auditors,   and   other   practitioners    concerning   possible
     noncompliance   with   the   minimum   servicing    standards,    including
     communications received between November 30, 2002 and January 31, 2003.
<PAGE>

EQUITY ONE
A Popular, Inc. Company
[LOGO]
--------------------------------------------------------------------------------

8.   The  Company  has  disclosed  to  you  any  known  noncompliance  occurring
     subsequent to November 30, 2002.

/s/ James H. Jenkins                                            2-27-03
------------------------------------                  --------------------------
James H. Jenkins, Senior Vice President,                        Date
Chief Financial Officer

/s/ John Martella                                               2-27-03
------------------------------------                  --------------------------
John Martella, Executive Vice President                         Date
Loan Servicing