exv10w1



 



EXHIBIT 10.1



CONTACTS




	 	 	 
	Administrator:	 	
Kumar X. Khambhaita
	Direct Phone No:	 	
(714) 247-6327
	Address:	 	
Deutsche Bank
	 	 	
1761 E. St. Andrew Place
	 	 	
Santa Ana, CA 92705
	 
	Web Site:	 	
http://www-apps.gis.deutsche-bank.com/invr
	Factor Information:	 	
(800) 735-7777
	Main Phone No:	 	
(714) 247-6000



ISSUANCE INFORMATION




	 	 	 	 	 	 	 
	Seller:	 	
Redwood Trust
	 	Cut-Off Date:
	 	April 1, 2002
	Certificate Insurer:	 	 	 	Closing Date:
	 	April 26, 2002
	Servicer(s):	 	
Cendant Mortgage Corporation
	 	First Payment Date:
	 	May 20, 2002
	 	 	
Morgan Stanley Dean Witter	 	 	 	 
	 
	Underwriter(s):	 	
Greenwich Capital Markets, Inc.
	 	Distribution Date:
	 	November 19, 2003
	 	 	
Bear, Stearns & Co. Inc.
	 	Record Date:
	 	November 18, 2003
	 	 	 	 	 	 	October 31, 2003



 






 



SEQUOIA MORTGAGE TRUST 6

Collateralized Mortgage Bonds

Bond Payment Report for November 19, 2003 Distribution



Distribution in Dollars - Current Period




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	Prior	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Current
	 	 	 	Class	 	Original	 	Principal	 	 	 	 	 	 	 	 	 	Total	 	Realized	 	Deferred	 	Principal
	Class	 	Type	 	Face Value	 	Balance	 	Interest	 	Principal	 	Distribution	 	Losses	 	Interest	 	Balance
	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	

	 	 	 	 	 	 	 	 	 	 	 	(1)	 	(2)	 	(3)	 	(4)=(2)+(3)	 	(5)	 	(6)	 	(7)=(1)-(3)-(5)+(6)
	 	 	 	 	 	 	 	 	 	 	 	
	 	
	 	
	 	
	 	
	 	
	 	

	LT-A
	 	 	 	 	 	 	496,378,000.00	 	 	 	410,969,811.58	 	 	 	825,707.42	 	 	 	6,130,090.10	 	 	 	6,955,797.52	 	 	 	—	 	 	 	—	 	 	 	404,839,721.48	 
	LT-A2
	 	 	 	 	 	 	100.00	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	LT-X
	 	 	 	 	 	 	100.00	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	LT-B-1
	 	 	 	 	 	 	5,915,000.00	 	 	 	5,915,000.00	 	 	 	11,884.23	 	 	 	—	 	 	 	11,884.23	 	 	 	—	 	 	 	—	 	 	 	5,915,000.00	 
	LT-B-2
	 	 	 	 	 	 	5,143,000.00	 	 	 	5,143,000.00	 	 	 	10,333.15	 	 	 	—	 	 	 	10,333.15	 	 	 	—	 	 	 	—	 	 	 	5,143,000.00	 
	 	 	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	LT-B-3
	 	 	 	 	 	 	2,315,000.00	 	 	 	2,315,000.00	 	 	 	4,651.22	 	 	 	—	 	 	 	4,651.22	 	 	 	—	 	 	 	—	 	 	 	2,315,000.00	 
	LT-B-4
	 	 	 	 	 	 	1,534,000.00	 	 	 	1,534,000.00	 	 	 	3,082.06	 	 	 	—	 	 	 	3,082.06	 	 	 	—	 	 	 	—	 	 	 	1,534,000.00	 
	LT-B-5
	 	 	 	 	 	 	1,028,000.00	 	 	 	1,028,000.00	 	 	 	2,065.42	 	 	 	—	 	 	 	2,065.42	 	 	 	—	 	 	 	—	 	 	 	1,028,000.00	 
	LT-B-6
	 	 	 	 	 	 	2,068,996.83	 	 	 	2,068,996.83	 	 	 	4,156.96	 	 	 	—	 	 	 	4,156.96	 	 	 	—	 	 	 	—	 	 	 	2,068,996.83	 
	LT-R
	 	 	 	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	 	 	 	 	514,382,196.83	 	 	 	428,973,808.41	 	 	 	861,880.46	 	 	 	6,130,090.10	 	 	 	6,991,970.56	 	 	 	—	 	 	 	—	 	 	 	422,843,718.31	 




	 	 	 
	Interest Accrual Detail	 	
Current Period Factor Information per $1,000 of Original Face




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Orig. Principal	 	Prior	 	 	 	 	 	 	 	 	 	 	 	 	 	Current
	 	 	Period	 	Period	 	 	 	 	 	 	 	 	 	(with Notional)	 	Principal	 	 	 	 	 	 	 	 	 	Total	 	Principal
	Class	 	Starting	 	Ending	 	Method	 	Cusip	 	Balance	 	Balance	 	Interest	 	Principal	 	Distribution	 	Balance
	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	(1)	 	(2)	 	(3)	 	(4)=(2)+(3)	 	(5)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
	 	
	 	
	 	
	 	

	LT-A
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	496,378,000.00	 	 	 	827.937200	 	 	 	1.663465	 	 	 	12.349641	 	 	 	14.013106	 	 	 	815.587559	 
	LT-A2
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	100.00	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	LT-X
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	100.00	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	LT-B-1
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	5,915,000.00	 	 	 	1,000.000000	 	 	 	2.009168	 	 	 	—	 	 	 	2.009168	 	 	 	1,000.000000	 
	LT-B-2
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	5,143,000.00	 	 	 	1,000.000000	 	 	 	2.009168	 	 	 	—	 	 	 	2.009168	 	 	 	1,000.000000	 
	 
	 	 	 	 	 	 	 	 	 	 	
	 	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	LT-B-3
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	2,315,000.00	 	 	 	1,000.000000	 	 	 	2.009166	 	 	 	—	 	 	 	2.009166	 	 	 	1,000.000000	 
	LT-B-4
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	1,534,000.00	 	 	 	1,000.000000	 	 	 	2.009166	 	 	 	—	 	 	 	2.009166	 	 	 	1,000.000000	 
	LT-B-5
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	1,028,000.00	 	 	 	1,000.000000	 	 	 	2.009163	 	 	 	—	 	 	 	2.009163	 	 	 	1,000.000000	 
	LT-B-6
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	2,068,996.83	 	 	 	1,000.000000	 	 	 	2.009167	 	 	 	—	 	 	 	2.009167	 	 	 	1,000.000000	 
	LT-R
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	 	 	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 



 






 




Distribution in Dollars — to Date






	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Original	 	 	 	 	 	Unscheduled
	Class	 	Face Value	 	Interest	 	Principal
	
	 	
	 	
	 	

	 	 	 	(1)	 	(2)	 	(3)
	 	 	 	
	 	
	 	

	LT-A
	 	 	496,378,000.00	 	 	 	21,414,532.54	 	 	 	91,538,278.52	 
	LT-A2
	 	 	100.00	 	 	 	0.27	 	 	 	100.00	 
	LT-X
	 	 	100.00	 	 	 	—	 	 	 	100.00	 
	LT-B-1
	 	 	5,915,000.00	 	 	 	275,975.24	 	 	 	—	 
	LT-B-2
	 	 	5,143,000.00	 	 	 	239,956.16	 	 	 	—	 
	LT-B-3
	 	 	2,315,000.00	 	 	 	108,010.59	 	 	 	—	 
	LT-B-4
	 	 	1,534,000.00	 	 	 	71,571.57	 	 	 	—	 
	LT-B-5
	 	 	1,028,000.00	 	 	 	47,963.25	 	 	 	—	 
	LT-B-6
	 	 	2,068,996.83	 	 	 	96,532.88	 	 	 	—	 
	LT-R
	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	514,382,196.83	 	 	 	22,254,542.50	 	 	 	91,538,478.52	 




[Additional columns below]

[Continued from above table, first column(s) repeated]


	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Current
	 	 	 	Scheduled	 	Total	 	Total	 	Realized	 	Deferred	 	Principal
	Class	 	Principal	 	Principal	 	Distribution	 	Losses	 	Interest	 	Balance
	
	 	
	 	
	 	
	 	
	 	
	 	

	 	 	 	(4)	 	(5)=(3)+(4)	 	(6)=(2)+(5)	 	(7)	 	(8)	 	(9)=(1)-(5)-(7)+(8)
	 	 	 	
	 	
	 	
	 	
	 	
	 	

	LT-A
	 	 	—	 	 	 	91,538,278.52	 	 	 	112,952,811.06	 	 	 	—	 	 	 	—	 	 	 	404,839,721.48	 
	LT-A2
	 	 	—	 	 	 	100.00	 	 	 	100.27	 	 	 	—	 	 	 	—	 	 	 	—	 
	LT-X
	 	 	—	 	 	 	100.00	 	 	 	100.00	 	 	 	—	 	 	 	—	 	 	 	—	 
	LT-B-1
	 	 	—	 	 	 	—	 	 	 	275,975.24	 	 	 	—	 	 	 	—	 	 	 	5,915,000.00	 
	LT-B-2
	 	 	—	 	 	 	—	 	 	 	239,956.16	 	 	 	—	 	 	 	—	 	 	 	5,143,000.00	 
	LT-B-3
	 	 	—	 	 	 	—	 	 	 	108,010.59	 	 	 	—	 	 	 	—	 	 	 	2,315,000.00	 
	LT-B-4
	 	 	—	 	 	 	—	 	 	 	71,571.57	 	 	 	—	 	 	 	—	 	 	 	1,534,000.00	 
	LT-B-5
	 	 	—	 	 	 	—	 	 	 	47,963.25	 	 	 	—	 	 	 	—	 	 	 	1,028,000.00	 
	LT-B-6
	 	 	—	 	 	 	—	 	 	 	96,532.88	 	 	 	—	 	 	 	—	 	 	 	2,068,996.83	 
	LT-R
	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	—	 	 	 	91,538,478.52	 	 	 	113,793,021.02	 	 	 	—	 	 	 	—	 	 	 	422,843,718.31	 






Interest Detail




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Pass-	 	Prior Principal	 	 	 	 	 	Non-	 	Prior	 	Unscheduled	 	 	 	 	 	Paid or	 	Current
	 	 	 	Through	 	(with Notional)	 	Accrued	 	Supported	 	Unpaid	 	Interest	 	Optimal	 	Deferred	 	Unpaid
	Class	 	Rate	 	Balance	 	Interest	 	Interest SF	 	Interest	 	Adjustments	 	Interest	 	Interest	 	Interest
	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	

	 	 	 	 	 	 	 	 	 	 	 	(1)	 	(2)	 	(3)	 	(4)	 	(5)=(1)-(2)+(3)+(4)	 	(6)	 	(7)=(5)-(6)
	 	 	 	 	 	 	 	 	 	 	 	
	 	
	 	
	 	
	 	
	 	
	 	

	LT-A
	 	 	2.41100	%	 	 	410,969,811.58	 	 	 	825,707.42	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	825,707.42	 	 	 	825,707.42	 	 	 	—	 
	LT-A2
	 	 	2.41100	%	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	LT-X
	 	 	 	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	LT-B-1
	 	 	2.41100	%	 	 	5,915,000.00	 	 	 	11,884.23	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	11,884.23	 	 	 	11,884.23	 	 	 	—	 
	LT-B-2
	 	 	2.41100	%	 	 	5,143,000.00	 	 	 	10,333.15	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	10,333.15	 	 	 	10,333.15	 	 	 	—	 
	 
	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	LT-B-3
	 	 	2.41100	%	 	 	2,315,000.00	 	 	 	4,651.22	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	4,651.22	 	 	 	4,651.22	 	 	 	—	 
	LT-B-4
	 	 	2.41100	%	 	 	1,534,000.00	 	 	 	3,082.06	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	3,082.06	 	 	 	3,082.06	 	 	 	—	 
	LT-B-5
	 	 	2.41100	%	 	 	1,028,000.00	 	 	 	2,065.42	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	2,065.42	 	 	 	2,065.42	 	 	 	—	 
	LT-B-6
	 	 	2.41100	%	 	 	2,068,996.83	 	 	 	4,156.96	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	4,156.96	 	 	 	4,156.96	 	 	 	—	 
	LT-R
	 	 	 	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	 	 	 	 	428,973,808.41	 	 	 	861,880.46	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	861,880.46	 	 	 	861,880.46	 	 	 	—	 



 






 



Distribution in Dollars — Current Period






	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Prior	 	 	 	 	 	 	 	 
	 	 	 	 	Class	 	Original	 	Principal	 	 	 	 	 	 	 	 
	Class	 	Type	 	Face Value	 	Balance	 	Interest	 	Principal
	
	 	
	 	
	 	
	 	
	 	

	 	 	 	 	 	 	 	 	 	 	 	 	(1)	 	(2)	 	(3)
	 	 	 	 	 	 	 	 	 	 	 	 	
	 	
	 	

	 	  A
	 	FLT	 	 	496,378,000.00	 	 	 	410,969,811.58	 	 	 	493,163.77	 	 	 	6,130,090.10	 
	 	  X
	 	CSTR	 	 	100.00	 	 	 	—	 	 	 	339,136.31	 	 	 	—	 
	 	A-R
	 	 	R	 	 	 	100.00	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-1
	 	SUB	 	 	5,915,000.00	 	 	 	5,915,000.00	 	 	 	8,971.08	 	 	 	—	 
	 	B-2
	 	SUB	 	 	5,143,000.00	 	 	 	5,143,000.00	 	 	 	7,800.22	 	 	 	—	 
	 
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	 	B-3
	 	SUB	 	 	2,315,000.00	 	 	 	2,315,000.00	 	 	 	3,511.08	 	 	 	—	 
	 	B-4
	 	SUB	 	 	1,534,000.00	 	 	 	1,534,000.00	 	 	 	3,082.06	 	 	 	—	 
	 	B-5
	 	SUB	 	 	1,028,000.00	 	 	 	1,028,000.00	 	 	 	2,065.42	 	 	 	—	 
	 	B-6
	 	SUB	 	 	2,068,996.00	 	 	 	2,068,996.00	 	 	 	4,156.97	 	 	 	—	 
	 
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	 	 	 	 	514,382,196.00	 	 	 	428,973,807.58	 	 	 	861,886.91	 	 	 	6,130,090.10	 




[Additional columns below]

[Continued from above table, first column(s) repeated]


	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Current
	 	 	 	 	Class	 	Total	 	Realized	 	Deferred	 	Principal
	Class	 	Type	 	Distribution	 	Losses	 	Interest	 	Balance
	
	 	
	 	
	 	
	 	
	 	

	 	 	 	 	 	 	 	 	(4)=(2)+(3)	 	(5)	 	(6)	 	(7)=(1)-(3)-(5)+(6)
	 	 	 	 	 	 	 	 	
	 	
	 	
	 	

	 	  A
	 	FLT	 	 	6,623,253.87	 	 	 	—	 	 	 	—	 	 	 	404,839,721.48	 
	 	  X
	 	CSTR	 	 	339,136.31	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	A-R
	 	 	R	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-1
	 	SUB	 	 	8,971.08	 	 	 	—	 	 	 	—	 	 	 	5,915,000.00	 
	 	B-2
	 	SUB	 	 	7,800.22	 	 	 	—	 	 	 	—	 	 	 	5,143,000.00	 
	 
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	 	B-3
	 	SUB	 	 	3,511.08	 	 	 	—	 	 	 	—	 	 	 	2,315,000.00	 
	 	B-4
	 	SUB	 	 	3,082.06	 	 	 	—	 	 	 	—	 	 	 	1,534,000.00	 
	 	B-5
	 	SUB	 	 	2,065.42	 	 	 	—	 	 	 	—	 	 	 	1,028,000.00	 
	 	B-6
	 	SUB	 	 	4,156.97	 	 	 	—	 	 	 	—	 	 	 	2,068,996.00	 
	 
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	 	 	 	 	6,991,977.01	 	 	 	—	 	 	 	—	 	 	 	422,843,717.48	 






Definitive Bond Record Date: 10/31/03




	 	 	 
	Interest Accrual Detail	 	
Current Period Factor Information per $1,000 of Original Face






	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Orig. Principal
	 	 	 	Period	 	Period	 	 	 	 	 	 	 	 	 	(with Notional)
	Class	 	Starting	 	Ending	 	Method	 	Cusip	 	Balance
	
	 	
	 	
	 	
	 	
	 	

	  A
	 	 	10/20/03	 	 	 	11/18/03	 	 	 	A-30/360	 	 	81743XAA7	 	 	496,378,000.00	 
	  X
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	SQ0201UPX	 	 	100.00	 
	A-R
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	81743XAC3	 	 	100.00	 
	B-1
	 	 	10/20/03	 	 	 	11/18/03	 	 	 	A-30/360	 	 	81743XAB5	 	 	5,915,000.00	 
	B-2
	 	 	10/20/03	 	 	 	11/18/03	 	 	 	A-30/360	 	 	81743XAD1	 	 	5,143,000.00	 
	 
	 	 	
	 	 	 	
	 	 	 	
	 	 	
	 	 	
	 
	B-3
	 	 	10/20/03	 	 	 	11/18/03	 	 	 	A-30/360	 	 	81743XAE9	 	 	2,315,000.00	 
	B-4
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	SQ0201UB4	 	 	1,534,000.00	 
	B-5
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	SQ0201UB5	 	 	1,028,000.00	 
	B-6
	 	 	 	 	 	 	 	 	 	 	A-30/360	 	 	SQ0201UB6	 	 	2,068,996.00	 




[Additional columns below]

[Continued from above table, first column(s) repeated]


	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Prior	 	 	 	 	 	 	 	 	 	 	 	 	 	Current
	 	 	 	Principal	 	 	 	 	 	 	 	 	 	Total	 	Principal
	Class	 	Balance	 	Interest	 	Principal	 	Distribution	 	Balance
	
	 	
	 	
	 	
	 	
	 	

	 	 	 	(1)	 	(2)	 	(3)	 	(4)=(2)+(3)	 	(5)
	 	 	 	
	 	
	 	
	 	
	 	

	  A
	 	 	827.937200	 	 	 	0.993525	 	 	 	12.349641	 	 	 	13.343166	 	 	 	815.587559	 
	  X
	 	 	—	 	 	 	3,391,363.100000	 	 	 	—	 	 	 	3,391,363.100000	 	 	 	—	 
	A-R
	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	B-1
	 	 	1,000.000000	 	 	 	1.516666	 	 	 	—	 	 	 	1.516666	 	 	 	1,000.000000	 
	B-2
	 	 	1,000.000000	 	 	 	1.516667	 	 	 	—	 	 	 	1.516667	 	 	 	1,000.000000	 
	 
	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	B-3
	 	 	1,000.000000	 	 	 	1.516665	 	 	 	—	 	 	 	1.516665	 	 	 	1,000.000000	 
	B-4
	 	 	1,000.000000	 	 	 	2.009166	 	 	 	—	 	 	 	2.009166	 	 	 	1,000.000000	 
	B-5
	 	 	1,000.000000	 	 	 	2.009163	 	 	 	—	 	 	 	2.009163	 	 	 	1,000.000000	 
	B-6
	 	 	1,000.000000	 	 	 	2.009173	 	 	 	—	 	 	 	2.009173	 	 	 	1,000.000000	 






Interest will accrue on all Bonds on the basis of a 360-day year consisting of twelve 30-day months.



 






 



Distribution in Dollars - to Date






	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Original	 	 	 	 	 	Unscheduled	 	Scheduled	 	Total
	Class	 	Face Value	 	Interest	 	Principal	 	Principal	 	Principal
	
	 	
	 	
	 	
	 	
	 	

	 	 	 	 	(1)	 	(2)	 	(3)	 	(4)	 	(5)=(3)+(4)
	 	 	 	 	
	 	
	 	
	 	
	 	

	 	A
	 	 	496,378,000.00	 	 	 	12,779,642.83	 	 	 	91,538,278.52	 	 	 	—	 	 	 	91,538,278.52	 
	 	X
	 	 	100.00	 	 	 	8,807,657.28	 	 	 	100.00	 	 	 	—	 	 	 	100.00	 
	 	A-R
	 	 	100.00	 	 	 	0.27	 	 	 	100.00	 	 	 	—	 	 	 	100.00	 
	 	B-1
	 	 	5,915,000.00	 	 	 	199,622.83	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-2
	 	 	5,143,000.00	 	 	 	173,568.97	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-3
	 	 	2,315,000.00	 	 	 	78,127.94	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-4
	 	 	1,534,000.00	 	 	 	71,571.57	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-5
	 	 	1,028,000.00	 	 	 	47,963.25	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-6
	 	 	2,068,996.00	 	 	 	96,532.84	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	514,382,196.00	 	 	 	22,254,687.78	 	 	 	91,538,478.52	 	 	 	—	 	 	 	91,538,478.52	 




[Additional columns below]

[Continued from above table, first column(s) repeated]


	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Total	 	Realized	 	Deferred	 	Current
Principal
	Class	 	Distribution	 	Losses	 	Interest	 	Balance
	
	 	
	 	
	 	
	 	

	 	 	 	 	(6)=(2)+(5)	 	(7)	 	(8)	 	(9)=(1)-(5)-(7)+(8)
	 	 	 	 	
	 	
	 	
	 	

	 	A
	 	 	104,317,921.35	 	 	 	—	 	 	 	—	 	 	 	404,839,721.48	 
	 	X
	 	 	8,807,757.28	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	A-R
	 	 	100.27	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-1
	 	 	199,622.83	 	 	 	—	 	 	 	—	 	 	 	5,915,000.00	 
	 	B-2
	 	 	173,568.97	 	 	 	—	 	 	 	—	 	 	 	5,143,000.00	 
	 	B-3
	 	 	78,127.94	 	 	 	—	 	 	 	—	 	 	 	2,315,000.00	 
	 	B-4
	 	 	71,571.57	 	 	 	—	 	 	 	—	 	 	 	1,534,000.00	 
	 	B-5
	 	 	47,963.25	 	 	 	—	 	 	 	—	 	 	 	1,028,000.00	 
	 	B-6
	 	 	96,532.84	 	 	 	—	 	 	 	—	 	 	 	2,068,996.00	 
	 
	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	113,793,166.30	 	 	 	—	 	 	 	—	 	 	 	422,843,717.48	 






     Interest Detail



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Pass-	 	Prior Principal	 	 	 	 	 	Non-	 	Prior	 	Unscheduled	 	 	 	 	 	Paid or	 	Current
	 	 	 	 	Through	 	(with Notional)	 	Accrued	 	Supported	 	Unpaid	 	Interest	 	Optimal	 	Deferred	 	Unpaid
	Class	 	Rate	 	Balance	 	Interest	 	Interest SF	 	Interest	 	Adjustments	 	Interest	 	Interest	 	Interest
	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	

	 	 	 	 	 	 	 	 	 	 	 	 	(1)	 	(2)	 	(3)	 	(4)	 	(5)=(1)-(2)+(3)+(4)	 	(6)	 	(7)=(5)-(6)
	 	 	 	 	 	 	 	 	 	 	 	 	
	 	
	 	
	 	
	 	
	 	
	 	

	 	A
	 	 	1.44000	%	 	 	410,969,811.58	 	 	 	493,163.77	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	493,163.77	 	 	 	493,163.77	 	 	 	—	 
	 	X
	 	 	0.95903	%	 	 	—	 	 	 	339,136.31	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	339,136.31	 	 	 	339,136.31	 	 	 	—	 
	 	A-R
	 	 	2.41100	%	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 	B-1
	 	 	1.82000	%	 	 	5,915,000.00	 	 	 	8,971.08	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	8,971.08	 	 	 	8,971.08	 	 	 	—	 
	 	B-2
	 	 	1.82000	%	 	 	5,143,000.00	 	 	 	7,800.22	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	7,800.22	 	 	 	7,800.22	 	 	 	—	 
	 
	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	 	B-3
	 	 	1.82000	%	 	 	2,315,000.00	 	 	 	3,511.08	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	3,511.08	 	 	 	3,511.08	 	 	 	—	 
	 	B-4
	 	 	2.41100	%	 	 	1,534,000.00	 	 	 	3,082.06	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	3,082.06	 	 	 	3,082.06	 	 	 	—	 
	 	B-5
	 	 	2.41100	%	 	 	1,028,000.00	 	 	 	2,065.42	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	2,065.42	 	 	 	2,065.42	 	 	 	—	 
	 	B-6
	 	 	2.41100	%	 	 	2,068,996.00	 	 	 	4,156.97	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	4,156.97	 	 	 	4,156.97	 	 	 	—	 
	 
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 
	Total
	 	 	 	 	 	 	428,973,807.58	 	 	 	861,886.91	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	861,886.91	 	 	 	861,886.91	 	 	 	—	 



 






 



Collection Account Report




	 	 	 	 	 
	SUMMARY	 	TOTAL
	
	 	

	Principal Collections
	 	 	6,130,090.10	 
	Principal Withdrawals
	 	 	0.00	 
	Principal Other Accounts
	 	 	0.00	 
	TOTAL PRINCIPAL
	 	 	6,130,090.10	 
	Interest Collected
	 	 	882,786.96	 
	Interest Withdrawals
	 	 	0.00	 
	Interest Other Accounts
	 	 	6.45	 
	Fees
	 	 	(20,906.49	)
	TOTAL INTEREST
	 	 	861,886.92	 
	TOTAL AVAILABLE TO CERTIFICATEHOLDERS
	 	 	6,991,977.02	 




	 	 	 	 	 
	PRINCIPAL - COLLECTIONS	 	TOTAL
	
	 	

	Scheduled Principal
	 	 	0.00	 
	Curtailments
	 	 	456,441.03	 
	Prepayments In Full
	 	 	5,673,649.07	 
	Repurchased Principal Amounts
	 	 	0.00	 
	Substitution Principal Amount
	 	 	0.00	 
	Liquidations
	 	 	0.00	 
	Insurance Principal
	 	 	0.00	 
	Other Principal
	 	 	0.00	 
	Total Realized Loss Of Principal
	 	 	0.00	 
	TOTAL PRINCIPAL COLLECTED
	 	 	6,130,090.10	 



 






 




	 	 	 
	PRINCIPAL - WITHDRAWALS	 	TOTAL
	
	 	





SPACE INTENTIONALLY LEFT BLANK




	 	 	 	 	 
	PRINCIPAL - OTHER ACCOUNTS	 	TOTAL
	
	 	

	Amounts remaining in Pre-Funding Account
	 	 	0.00	 




	 	 	 	 	 
	INTEREST - COLLECTIONS	 	TOTAL
	
	 	

	Scheduled Interest
	 	 	997,886.33	 
	Repurchased Interest
	 	 	0.00	 
	Substitution Interest Amount
	 	 	0.00	 
	Liquidation Interest
	 	 	0.00	 
	Insurance Interest
	 	 	0.00	 
	Other Interest
	 	 	0.00	 
	Delinquent Interest
	 	 	(851,973.85	)
	Interest Advanced
	 	 	736,874.48	 
	Prepayment Interest Shortfalls
	 	 	(3,778.80	)
	Compensating Interest
	 	 	3,778.80	 
	Civil Relief Act Shortfalls
	 	 	0.00	 
	TOTAL INTEREST COLLECTED
	 	 	882,786.96	 




	 	 	 	 	 
	INTEREST - WITHDRAWALS	 	TOTAL
	
	 	

	Current Nonrecoverable Advances
	 	 	0.00	 
	TOTAL INTEREST WITHDRAWALS
	 	 	0.00	 



 






 




	 	 	 	 	 
	INTEREST - OTHER ACCOUNTS	 	TOTAL
	
	 	

	Basis Risk Shortfall
	 	 	0.00	 
	Basis Risk Reserve Fund Interest Earnings
	 	 	6.45	 
	TOTAL INTEREST OTHER ACCOUNTS
	 	 	6.45	 




	 	 	 	 	 
	INTEREST - FEES	 	TOTAL
	
	 	

	Current Servicing Fees
	 	 	19,476.58	 
	Trustee Fee
	 	 	1,429.91	 
	TOTAL FEES
	 	 	20,906.49	 



 






 


Credit Enhancement Report




	 	 	 	 	 
	ACCOUNTS	 	TOTAL
	
	 	

	BASIS RISK RESERVE FUND

	 	 	 	 
	
Beginning Balance
	 	 	10,000.00	 
	Basis Risk Deposit
	 	 	0.00	 
	Basis Risk Shortfall paid
	 	 	0.00	 
	Investment Earnings distributed to the Class X Bondholder
	 	 	6.45	 
	Ending Balance
	 	 	10,000.00	 




	 	 	 
	INSURANCE	 	TOTAL
	
	 	





SPACE INTENTIONALLY LEFT BLANK




	 	 	 	 	 
	STRUCTURAL FEATURES	 	TOTAL
	
	 	

	Pro Rata Senior Percentage
	 	 	95.803008	%
	Senior Percentage
	 	 	100.000000	%
	Subordinate Percentage
	 	 	0.000000	%
	Senior Prepayment Percentage
	 	 	100.000000	%
	Subordinate Percentage
	 	 	0.000000	%



 






 



Collateral Report




	 	 	 	 	 	 
	COLLATERAL	 	TOTAL
	
	 	

	 	Loan Count:
	 	 	 	 
	Original
	 	 	1254	 
	Prior
	 	 	1,054	 
	Prefunding
	 	 	—	 
	Scheduled Paid Offs
	 	 	—	 
	Full Voluntary Prepayments
	 	 	(15	)
	Repurchases
	 	 	—	 
	Liquidations
	 	 	—	 
	Current
	 	 	1,039	 
	 	 	 	 	
	 
	Principal Balance:
	 	 	 	 
	Original
	 	 	514,382,196.83	 
	Prior
	 	 	428,973,808.41	 
	Prefunding
	 	 	—	 
	Scheduled Principal
	 	 	—	 
	Partial and Full Voluntary Prepayments
	 	 	(6,130,090.10	)
	Repurchases
	 	 	—	 
	Liquidations
	 	 	—	 
	 
	 	 	
	 
	Current
	 	 	422,843,718.31	 
	 
	 	 	
	 




	 	 	 
	PREFUNDING	 	TOTAL
	
	 	





SPACE INTENTIONALLY LEFT BLANK



 






 






	 	 	 	 	 
	CHARACTERISTICS	 	TOTAL
	
	 	

	Weighted Average Coupon Original
	 	 	3.667751	%
	Weighted Average Coupon Prior
	 	 	2.797353	%
	Weighted Average Coupon Current
	 	 	2.791461	%
	 	 	 	
	 
	Weighted Average Months to Maturity Original
	 	 	297	 
	Weighted Average Months to Maturity Prior
	 	 	280	 
	Weighted Average Months to Maturity Current
	 	 	279	 
	 	 	 	
	 
	Weighted Avg Remaining Amortization Term Original
	 	 	296	 
	Weighted Avg Remaining Amortization Term Prior
	 	 	279	 
	Weighted Avg Remaining Amortization Term Current
	 	 	278	 
	 	 	 	
	 
	Weighted Average Seasoning Original
	 	 	3.66	 
	Weighted Average Seasoning Prior
	 	 	20.64	 
	Weighted Average Seasoning Current
	 	 	21.64	 



     Note: Original information refers to deal issue.



	 	 	 	 	 
	ARM CHARACTERISTICS	 	TOTAL
	
	 	

	Weighted Average Margin Original
	 	 	1.652	%
	Weighted Average Margin Prior
	 	 	1.643	%
	Weighted Average Margin Current
	 	 	1.641	%
	 	 	 	
	 
	Weighted Average Max Rate Original
	 	 	12.000	%
	Weighted Average Max Rate Prior
	 	 	12.000	%
	Weighted Average Max Rate Current
	 	 	12.000	%
	 	 	 	
	 
	Weighted Average Min Rate Original
	 	 	1.652	%
	Weighted Average Min Rate Prior
	 	 	1.643	%
	 	 	 	
	 
	Weighted Average Min Rate Current
	 	 	1.641	%
	Weighted Average Cap Up Original
	 	 	0.000	%
	Weighted Average Cap Up Prior
	 	 	0.000	%
	Weighted Average Cap Up Current
	 	 	0.000	%
	 	 	 	
	 
	Weighted Average Cap Down Original
	 	 	0.000	%
	Weighted Average Cap Down Prior
	 	 	0.000	%
	Weighted Average Cap Down Current
	 	 	0.000	%



Note: Original information refers to deal issue.



 






 




	 	 	 	 	 
	SERVICING FEES / ADVANCES	 	TOTAL
	
	 	

	Current Servicing Fees
	 	 	19,476.58	 
	Delinquent Servicing Fees
	 	 	115,099.37	 
	TOTAL SERVICING FEES
	 	 	134,575.95	 
	Total Servicing Fees
	 	 	134,575.95	 
	Compensating Interest
	 	 	(3,778.80	)
	Delinquent Servicing Fees
	 	 	(115,099.37	)
	COLLECTED SERVICING FEES
	 	 	15,697.78	 
	Prepayment Interest Shortfall
	 	 	3,778.80	 
	Total Advanced Interest
	 	 	736,874.48	 
	Current Nonrecoverable Advances
	 	 	0.00	 




	 	 	 	 	 
	ADDITIONAL COLLATERAL INFORMATION	 	TOTAL
	
	 	

	Mortgage Loans which adjust based on One-Month LIBOR
	 	 	0.00	 
	Mortgage Loans which adjust based on Six-Month LIBOR
	 	 	0.00	 
	Special Hazard Loss Coverage Amount
	 	 	5,800,000.00	 
	Current Special Hazard Losses
	 	 	0.00	 
	Cumulative Special Hazard Losses
	 	 	0.00	 
	Bankruptcy Loss Coverage Amount
	 	 	100,000.00	 
	Current Bankruptcy Losses
	 	 	0.00	 
	Cumulative Bankruptcy Losses
	 	 	0.00	 
	Fraud Loss Coverage Amount
	 	 	9,267,516.97	 
	Current Fraud Losses
	 	 	0.00	 
	Cumulative Fraud Losses
	 	 	0.00	 




 










 



Delinquency Report - Total




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	1 PAYMENT	 	1 PAYMENT	 	2 PAYMENTS	 	3+ PAYMENTS	 	TOTAL
	 	 	 	 	 	 	
	 	
	 	
	 	
	 	

	DELINQUENT
	 	Balance	 	 	 	 	 	 	204,930.00	 	 	 	—	 	 	 	—	 	 	 	204,930.00	 
	 
	 	% Balance	 	 	 	 	 	 	0.05	%	 	 	0.00	%	 	 	0.00	%	 	 	0.05	%
	 
	 	# Loans	 	 	 	 	 	 	1	 	 	 	—	 	 	 	—	 	 	 	1	 
	 
	 	% # Loans	 	 	 	 	 	 	0.10	%	 	 	0.00	%	 	 	0.00	%	 	 	0.10	%
	FORECLOSURE
	 	Balance	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	% Balance	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%
	 
	 	# Loans	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	% # Loans	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%
	BANKRUPTCY
	 	Balance	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	% Balance	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%
	 
	 	# Loans	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	% # Loans	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%
	REO
	 	Balance	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	% Balance	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%
	 
	 	# Loans	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 
	 
	 	% # Loans	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%
	TOTAL
	 	Balance	 	 	—	 	 	 	204,930.00	 	 	 	—	 	 	 	—	 	 	 	204,930.00	 
	 
	 	% Balance	 	 	0.00	%	 	 	0.05	%	 	 	0.00	%	 	 	0.00	%	 	 	0.05	%
	 
	 	# Loans	 	 	—	 	 	 	1	 	 	 	—	 	 	 	—	 	 	 	1	 
	 
	 	% # Loans	 	 	0.00	%	 	 	0.10	%	 	 	0.00	%	 	 	0.00	%	 	 	0.10	%




Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+


 






 


REO Report - Mortgage Loans that Become REO During Current Distribution



SUMMARY



Total Loan Count = 0

Total Original Principal Balance = 000.00

Total Current Balance = 000.00

REO Book Value = 000.00


LOAN GROUP


Loan Group 1 = MSDW Group; REO Book Value = 000.00


REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.



	 	 	 	 	 	 	 	 	 	 	 	 	 
	Loan
	Number	 	Original	 	 	Stated	 	 	 	 	 	Current	 	 	State &
	&	 	Principal	 	 	Principal	 	 	Paid to	 	 	Note	 	 	LTV at	 	 	Original	 	 	Origination
	Loan Group	 	Balance	 	 	Balance	 	 	Date	 	 	Rate	 	 	Origination	 	 	Term	 	 	Date
	
	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	





SPACE INTENTIONALLY LEFT BLANK




 






 





Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution



SUMMARY



Total Loan Count = 0

Total Original Principal Balance = 000.00

Total Current Balance = 000.00


LOAN GROUP


Loan Group 1 = MSDW Group



	 	 	 	 	 	 	 	 	 	 	 	 	 
	Loan
	Number	 	Original	 	 	Stated	 	 	 	 	 	Current	 	 	State &
	&	 	Principal	 	 	Principal	 	 	Paid to	 	 	Note	 	 	LTV at	 	 	Original	 	 	Origination
	Loan Group	 	Balance	 	 	Balance	 	 	Date	 	 	Rate	 	 	Origination	 	 	Term	 	 	Date
	
	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	





SPACE INTENTIONALLY LEFT BLANK



 






 





Prepayment Report - Voluntary Prepayments




	 	 	 	 	 
	VOLUNTARY PREPAYMENTS	 	TOTAL
	
	 	

	Current
	 	 	 	 
	Number of Paid in Full Loans
	 	 	15	 
	Number of Repurchased Loans
	 	 	—	 
	 
	 	 	
	 
	Total Number of Loans Prepaid in Full
	 	 	15	 
	Paid in Full Balance
	 	 	5,673,649.07	 
	Repurchased Loans Balance
	 	 	—	 
	Curtailments Amount
	 	 	456,441.03	 
	 
	 	 	
	 
	Total Prepayment Amount
	 	 	6,130,090.10	 
	Cumulative
	 	 	 	 
	Number of Paid in Full Loans
	 	 	215	 
	Number of Repurchased Loans
	 	 	—	 
	 
	 	 	
	 
	Total Number of Loans Prepaid in Full
	 	 	215	 
	Paid in Full Balance
	 	 	78,768,737.69	 
	Repurchased Loans Balance
	 	 	—	 
	Curtailments Amount
	 	 	12,769,740.83	 
	 
	 	 	
	 
	Total Prepayment Amount
	 	 	91,538,478.52	 



SPACE INTENTIONALLY LEFT BLANK




 






 






	 	 	 	 	 
	VOLUNTARY PREPAYMENT RATES	 	TOTAL
	
	 	

	SMM
	 	 	1.43	%
	3 Months Avg SMM
	 	 	1.44	%
	12 Months Avg SMM
	 	 	1.16	%
	Avg SMM Since Cut-off
	 	 	1.03	%
	CPR
	 	 	15.86	%
	3 Months Avg CPR
	 	 	15.95	%
	12 Months Avg CPR
	 	 	13.02	%
	Avg CPR Since Cut-off
	 	 	11.64	%
	PSA
	 	 	366.51	%
	3 Months Avg PSA Approximation
	 	 	386.52	%
	12 Months Avg PSA Approximation
	 	 	403.55	%
	Avg PSA Since Cut-off Approximation
	 	 	460.54	%



PREPAYMENT CALCULATION METHODOLOGY



Single Monthly Mortality (SMM):
(Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)


Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)


PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))


Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)]^(1/months in period n,m)


Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)


Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))


Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)


Weighted Average Seasoning (WAS)



	Note:	 	Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.




 










 


Prepayment Detail Report  -  Loans Prepaid in Full During Current Distribution




	 	 	 
	SUMMARY	 	
LOAN GROUP
	Total Loan Count = 15	 	
Loan Group 1 = MSDW
	Total Original Principal Balance = 5,728,300.01	 	
Group
	Total Prepayment Amount = 5,673,649.07	 	 




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Loan Number	 	 	 	 	 	Original	 	 	 	 	 	 	 	 	 	Current	 	State &	 	Type Prepayment	 	 	 	 
	&	 	Loan	 	Principal	 	Prepayment	 	Prepayment	 	Note	 	LTV at	 	&	 	Origination
	Loan Group	 	Status	 	Balance	 	Amount	 	Date	 	Rate	 	Origination	 	Original Term	 	Date
	
	 	
	 	
	 	
	 	
	 	
	 	
	 	
	 	

	390440577 
	 	1	 	 	 	 	284,800.00	 	 	 	284,001.81	 	 	Oct-27-03	 	 	2.875	%	 	FL - 80.00%	 	Paid Off - 300	 	Dec-12-01
	390441938 
	 	1	 	 	 	 	750,000.00	 	 	 	749,845.90	 	 	Oct-31-03	 	 	2.875	%	 	CA - 76.92%	 	Paid Off - 300	 	Dec-13-01
	390442288 
	 	1	 	 	 	 	188,500.00	 	 	 	188,500.00	 	 	Oct-23-03	 	 	2.875	%	 	IN - 78.54%	 	Paid Off - 300	 	Oct-15-01
	390442715 
	 	1	 	 	 	 	500,000.00	 	 	 	500,000.00	 	 	Oct-21-03	 	 	2.375	%	 	FL - 73.31%	 	Paid Off - 300	 	Oct-16-01
	390442725 
	 	1	 	 	 	 	607,000.00	 	 	 	607,000.00	 	 	Oct-27-03	 	 	2.625	%	 	FL - 60.70%	 	Paid Off - 300	 	Oct-19-01
	390443628 
	 	1	 	 	 	 	335,000.00	 	 	 	322,623.42	 	 	Oct-27-03	 	 	3.000	%	 	AZ - 68.37%	 	Paid Off - 300	 	Nov-21-01
	390443748 
	 	1	 	 	 	 	230,000.00	 	 	 	228,976.86	 	 	Oct-14-03	 	 	3.000	%	 	FL - 75.66%	 	Paid Off - 300	 	Nov-27-01
	390446295 
	 	1	 	 	 	 	100,000.00	 	 	 	97,879.91	 	 	Oct-14-03	 	 	2.625	%	 	MI - 60.61%	 	Paid Off - 300	 	Feb-15-02
	390446346 
	 	1	 	 	 	 	650,000.00	 	 	 	650,000.00	 	 	Oct-21-03	 	 	2.625	%	 	MD - 67.71%	 	Paid Off - 300	 	Feb-08-02
	390447567 
	 	1	 	 	 	 	101,500.00	 	 	 	96,483.70	 	 	Oct-17-03	 	 	2.750	%	 	CA - 53.99%	 	Paid Off - 300	 	Feb-21-02
	390448115 
	 	1	 	 	 	 	405,000.00	 	 	 	395,934.65	 	 	Oct-31-03	 	 	2.750	%	 	NC - 67.50%	 	Paid Off - 300	 	Feb-11-02
	390448274 
	 	1	 	 	 	 	200,000.00	 	 	 	197,759.41	 	 	Oct-20-03	 	 	2.750	%	 	WI - 35.09%	 	Paid Off - 300	 	Feb-26-02
	390448491 
	 	1	 	 	 	 	419,500.00	 	 	 	419,500.00	 	 	Oct-13-03	 	 	2.750	%	 	CO - 73.60%	 	Paid Off - 300	 	Feb-05-02
	390449401 
	 	1	 	 	 	 	582,000.01	 	 	 	582,000.00	 	 	Oct-14-03	 	 	2.750	%	 	VA -  61.26%	 	Paid Off - 300	 	Feb-14-02
	390449561 
	 	1	 	 	 	 	375,000.00	 	 	 	353,143.41	 	 	Oct-31-03	 	 	2.750	%	 	SD - 65.22%	 	Paid Off - 300	 	Feb-07-02



 






 



Realized Loss Report  -  Collateral




	 	 	 	 	 
	COLLATERAL REALIZED LOSSES	 	TOTAL
	
	 	

	Current
	 	 	 	 
	Number of Loans Liquidated
	 	 	—	 
	Collateral Realized Loss/(Gain) Amount
	 	 	—	 
	Net Liquidation Proceeds
	 	 	—	 
	Cumulative
	 	 	 	 
	Number of Loans Liquidated
	 	 	—	 
	Collateral Realized Loss/(Gain) Amount
	 	 	—	 
	Net Liquidation Proceeds
	 	 	—	 



Note: Collateral Realized Loss Amount
may include adjustments to loans
liquidated in prior periods.


SPACE INTENTIONALLY LEFT BLANK



 






 




	 	 	 	 	 
	DEFAULT SPEEDS	 	TOTAL
	
	 	

	MDR
	 	 	0.00	%
	3 Months Avg MDR
	 	 	0.00	%
	12 Months Avg MDR
	 	 	0.00	%
	Avg MDR Since Cut-off
	 	 	0.00	%
	CDR
	 	 	0.00	%
	3 Months Avg CDR
	 	 	0.00	%
	12 Months Avg CDR
	 	 	0.00	%
	Avg CDR Since Cut-off
	 	 	0.00	%
	SDA
	 	 	0.00	%
	3 Months Avg SDA Approximation
	 	 	0.00	%
	12 Months Avg SDA Approximation
	 	 	0.00	%
	Loss Severity Approximation for Current Period
	 	 	 	 
	3 Months Avg Loss Severity Approximation
	 	 	 	 
	12 Months Avg Loss Severity Approximation
	 	 	 	 
	Avg Loss Severity Approximation Since Cut-off
	 	 	 	 



COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY




	 	 
	 	
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)

	 	
Conditional Default Rate (CDR): 1-((1-MDR)^12)

	 	
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))

	 	
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) *.......*(1-MDRm)]^(1/months in period n,m)

	 	
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

	 	
Average SDA Approximation over period between the nth month and mth month:

	 	
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))

	 	
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)

	 	
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

	 	
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

	 	
Note:
Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.

	 	Dates correspond to distribution dates.




 






 


Realized Loss Detail Report  -  Loans Liquidated During Current Distribution




	 	 	 
	SUMMARY	 	
LOAN GROUP
	Total Loan Count = 0	 	
Loan Group 1 = MSDW Group
	Total Original Principal Balance = 0.00	 	 
	Total Prior Principal Balance = 0.00	 	 
	Total Realized Loss Amount = 0.00	 	 
	Total Net Liquidation Proceeds = 0.00	 	 



Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.



	 	 	 
	Loan Number	 	 	 	 	Original	 	 	Prior	 	 	 	 	 	Current	 	 	State	 	 	 	 	 	 
	&	 	Loan	 	 	Principal	 	 	Principal	 	 	Realized	 	 	Note	 	 	LTV at	 	 	Original	 	 	Origination
	Loan Group	 	Status	 	 	Balance	 	 	Balance	 	 	Loss/(Gain)	 	 	Rate	 	 	Origination	 	 	Term	 	 	Date
	
	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	





SPACE INTENTIONALLY LEFT BLANK



 






 





Triggers, Adj. Rate Cert. and Miscellaneous Report




	 	 	 
	TRIGGER EVENTS	 	TOTAL
	
	 	





SPACE INTENTIONALLY LEFT BLANK




	 	 	 
	ADJUSTABLE RATE CERTIFICATE INFORMATION	 	TOTAL
	
	 	





SPACE INTENTIONALLY LEFT BLANK




	 	 	 	 	 
	ADDITIONAL INFORMATION	 	TOTAL
	
	 	

	Basis Risk Shortfall
	 	 	 	 
	Class A
	 	 	0.00	 
	Class B-1
	 	 	0.00	 
	Class B-2
	 	 	0.00	 
	Class B-3
	 	 	0.00	 
	Unpaid Basis Risk Shortfall
	 	 	 	 
	Class A
	 	 	0.00	 
	Class B-1
	 	 	0.00	 
	Class B-2
	 	 	0.00	 
	Class B-3
	 	 	0.00