Document:

<PAGE>

                                  EXHIBIT 10.1

The Bank of New York
Corporate Trust and Agency Services
5 Penn Plaza, 16th Floor
New York, NY  10001
Patricia O'Neil Manella
(212) 328-7574

Distribution Date: October 30, 2003

                      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   32,240,030.71       1.720000%     46,210.71      1,407,823.76      1,454,034.47      0.00     30,832,206.96
A-2         81743UAB1   10,605,724.03       1.870000%     16,527.25        335,485.49        352,012.74      0.00     10,270,238.54
-----------------------------------------------------------------------------------------------------------------------------------
 Total                  42,845,754.75                     62,737.96      1,743,309.25      1,806,047.21      0.00     41,102,445.50
-----------------------------------------------------------------------------------------------------------------------------------
</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   497.830958641    0.713557707    21.738758754    476.092199888        1.720000%
 A-2         81743UAB1    15,861,000.00   668.666794952    1.042005755    21.151597686    647.515197265        1.870000%
--------------------------------------------------------------------------------------------------------------------------
Total                     80,622,000.00   531.439988431    0.778174245    21.623244853    509.816743578
--------------------------------------------------------------------------------------------------------------------------
</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    304,898.28 3.735855%     949.21      37,829.53    38,778.74   0.00      0.00      267,068.75
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    579,128.64 4.822328%   2,327.29     132,422.38   134,749.67   0.00      0.00      446,706.25
ONE 00-2       2A   152,653,000.00  5,431,238.14 4.079381%  18,463.41     151,703.43   170,166.84   0.00      0.00    5,279,534.71
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  1,089,043.86 5.731142%   5,201.22      26,679.72    31,880.94   0.00      0.00    1,062,364.15
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 15,976,448.54 2.120000%  30,106.73     516,142.59   546,249.32   0.00      0.00   15,460,305.95
INMC 94-R      M2     4,620,000.00  2,072,253.44 4.043604%   6,982.81     109,596.38   116,579.19   0.00      0.00    1,962,657.06
INMC 94-V      B1     3,618,000.00  1,174,655.73 4.017674%   3,932.82      80,167.80    84,100.62   0.00      0.00    1,094,487.93
INMC 94-X      B1     2,769,000.00    944,386.14 4.293850%   3,379.21      36,158.08    38,537.29   0.00      0.00      908,228.06
INMC 95-C      B1    12,828,797.00  3,581,899.94 4.370481%  13,045.52     183,652.17   196,697.69   0.00      0.00    3,398,247.77
INMC 95-T      A2    65,695,250.00  1,740,576.60 3.614892%   5,243.33     133,471.68   138,715.01   0.00      0.00    1,607,104.92
----------------------------------------------------------------------------------------------------------------------------------
    Total           718,554,901.00 32,894,529.31            89,631.55   1,407,823.76 1,497,455.31   0.00      0.00   31,486,705.56
----------------------------------------------------------------------------------------------------------------------------------
</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      245,813.00    381,860.77 4.123839%   1,312.28      1,104.85      2,417.12   0.00     0.00       380,755.93
INMC 95-E      B1    4,608,492.00  2,400,345.08 4.506651%   9,014.60     79,558.35     88,572.95   0.00     0.00     2,320,786.72
PMLT 99-A      M1    2,914,000.00  1,817,530.61 2.367998%   3,586.59     44,899.48     48,486.07   0.00     0.00     1,772,631.13
RTC 95-2       A3  119,696,000.00  6,167,141.54 3.222396%  16,560.81    209,922.81    226,483.62   0.00     0.00     5,957,218.73
---------------------------------------------------------------------------------------------------------------------------------
       Total       373,031,492.00 10,766,878.00            30,474.28    335,485.49    365,959.77   0.00     0.00    10,431,392.51
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                 UNDERLYING POOL DELINQUENT INFORMATION BY GROUP

<TABLE>
<CAPTION>
                     LOANS
                   OUTSTANDING   DELINQUENT 30-59 DAYS  DELINQUENT 0-89 DAYS  DELINQUENT 90+ DAYS
    SERIES           BALANCE         NO.      BALANCE     NO.       BALANCE     NO.     BALANCE
---------------------------------------------------------------------------------------------------
<S>              <C>                <C>   <C>             <C>   <C>             <C>  <C>
CWMBS 94K          7,725,663.91      2      151,414.10     1      180,032.25     0           0.00
DLJMA 93-Q18(1)            0.00      0            0.00     0            0.00     0           0.00
DLJMA 94-2A(1)       725,752.55      0            0.00     0            0.00     0           0.00
ONE 00-2(2)      214,013,025.34     53    4,577,794.00    18    1,936,725.00    13   2,408,628.00
RYMS3 92-B(2)              0.00      0            0.00     0            0.00     0           0.00
SBM7 94-2(2)       3,750,734.49      2      160,486.50     0            0.00     1      80,588.04
SMS 91-K                   0.00      0            0.00     0            0.00     0           0.00
EAGLE 98-1        26,179,079.00      8      618,899.71     6      894,313.79    14   1,648,150.06
INMC 94-R          6,029,368.13      1       87,897.97     0            0.00     0           0.00
INMC 94-V          4,942,921.66      2      106,931.68     0            0.00     0           0.00
INMC 94-X          4,277,758.20      1       94,776.92     1       92,828.15     2     183,007.19
INMC 95-C          6,684,461.53      1      120,348.02     0            0.00     0           0.00
INMC 95-T(2)       5,877,392.89      1       83,614.07     1      192,585.13     1      79,327.03
---------------------------------------------------------------------------------------------------
    Total        280,206,157.70     71    6,002,162.97    27    3,296,484.32    31   4,399,700.32
---------------------------------------------------------------------------------------------------

<CAPTION>
                      FORECLOSURE             REO       REALIZED LOSSES
    SERIES       NO.    BALANCE      NO.    BALANCE      CURR. AMOUNT
-----------------------------------------------------------------------
<S>              <C>  <C>           <C>  <C>            <C>
CWMBS 94K         1     235,431.84   0           0.00          0.00
DLJMA 93-Q18(1)   0           0.00   0           0.00          0.00
DLJMA 94-2A(1)    0           0.00   0           0.00          0.00
ONE 00-2(2)      17   1,926,223.00   5   1,549,457.00      5,432.00
RYMS3 92-B(2)     0           0.00   0           0.00          0.00
SBM7 94-2(2)      0           0.00   0           0.00          0.00
SMS 91-K          0           0.00   0           0.00          0.00
EAGLE 98-1       22   2,822,436.62  12   1,732,600.87          0.00
INMC 94-R         3   1,391,840.88   0           0.00          0.00
INMC 94-V         0           0.00   0           0.00          0.00
INMC 94-X         1     138,044.78   0           0.00          0.00
INMC 95-C         4     585,459.89   0           0.00          0.00
INMC 95-T(2)      0           0.00   0           0.00          0.00
-----------------------------------------------------------------------
    Total        48   7,099,437.01  17   3,282,057.87      5,432.00
-----------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                  LOANS
               OUTSTANDING    DELINQUENT 30-59 DAYS  DELINQUENT 60-89 DAYS  DELINQUENT 90+ DAYS
   SERIES        BALANCE         NO.       BALANCE       NO.      BALANCE      NO.     BALANCE
-----------------------------------------------------------------------------------------------
<S>           <C>               <C>    <C>              <C>   <C>              <C> <C>
GRCAP 94-HM4    5,271,025.55      0            0.00      0            0.00      0          0.00
INMC 95-E      11,187,474.12      2      399,396.70      0            0.00      1    402,744.21
PMLT 99-A      27,267,084.37     25    1,447,911.48     17    1,636,920.44      5    476,610.11
RTC 95-2(1)    17,882,093.28      4      371,983.49      3      194,860.43      4    331,100.49
-----------------------------------------------------------------------------------------------
    Total      61,607,677.32     31    2,219,291.67     20    1,831,780.87     10  1,210,454.81
-----------------------------------------------------------------------------------------------
  Total All   341,813,835.02    102    8,221,454.64     47    5,128,265.19     41  5,610,155.13
-----------------------------------------------------------------------------------------------

<CAPTION>
                     FORECLOSURE             REO     REALIZED LOSSES
   SERIES      NO.     BALANCE     NO.     BALANCE    CURR. AMOUNT
--------------------------------------------------------------------
<S>           <C>   <C>           <C>  <C>           <C>
GRCAP 94-HM4   0            0.00   0           0.00        0.00
INMC 95-E      5      704,201.66   0           0.00    1,978.29
PMLT 99-A     20    1,234,372.78   6     231,649.01        0.00
RTC 95-2(1)    1       31,895.36   0           0.00        0.00
--------------------------------------------------------------------
    Total     26    1,970,469.80   6     231,649.01    1,978.29
--------------------------------------------------------------------
  Total All   74    9,069,906.81  23   3,513,706.88    7,410.29
--------------------------------------------------------------------
</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          1,497,455.31       822.36         0.00        1,496,632.94      1,454,034.47     42,598.48
 II          0.00            365,959.77       269.17         0.00          365,690.60        352,012.74     13,677.85
---------------------------------------------------------------------------------------------------------------------
 Total       0.00          1,863,415.07     1,091.54         0.00        1,862,323.54      1,806,047.21     56,276.33
---------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                  ADDITIONAL REPORTING ITEMS               POOL I           POOL II           TOTAL
-------------------------------------------------------------------------------------------------------
<S>        <C>                                         <C>              <C>              <C>
2.15(a)    Available Interest                               89,631.55       30,474.28        120,105.83
-------------------------------------------------------------------------------------------------------
           Available Principal                           1,407,823.76      335,485.49      1,743,309.25
-------------------------------------------------------------------------------------------------------
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                                 1.9897%         1.4968%
-------------------------------------------------------------------------------------------------------
           Ending Actual OC                                    2.0787%         1.5449%
-------------------------------------------------------------------------------------------------------
2.15(g)    2nd preceding pool bal                      295,851,791.16   61,037,664.19    356,889,455.35
-------------------------------------------------------------------------------------------------------
2.15(h)    Required OC                                         2.7000%         2.0000%
-------------------------------------------------------------------------------------------------------
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       42,598.48       13,677.85         56,276.33
-------------------------------------------------------------------------------------------------------
</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.<PAGE>

                                  EXHIBIT 10.1

CONTACT: CUSTOMER SERVICES -- CTSLINK
         WELLS FARGO BANK MINNESOTA, N.A.
         SECURITIES ADMINISTRATION SERVICES
         7485 NEW HORIZON WAY
         FREDERICK, MD  21703
         WWW.CTSLINK.COM
         TELEPHONE:        (301) 815-6600
         FAX:              (301) 315-6660

                                SMT SERIES 2002-7
                         RECORD DATE: SEPTEMBER 30, 2003
                       DISTRIBUTION DATE: OCTOBER 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate     Certificate        Beginning
                                 Class        Pass-Through      Certificate        Interest
   Class          CUSIP       Description         Rate            Balance        Distribution
---------------------------------------------------------------------------------------------
<S>             <C>           <C>             <C>              <C>               <C>
     A          81743YAA5         SEN           1.46000%       453,941,517.82      552,295.51
    A-R         SMT0207AR         SEN           3.50978%                 0.00            0.00
    B-1         81743YAE7         SUB           1.87000%         8,080,000.00       12,591.33
    B-2         81743YAF4         SUB           2.72268%         5,771,000.00       13,093.82
    B-3         81743YAG2         SUB           2.72268%         3,463,000.00        7,857.20
    B-4         SMT0207B4         SUB           2.72268%         1,442,000.00        3,271.75
    B-5         SMT0207B5         SUB           2.72268%         1,154,000.00        2,618.31
    B-6         SMT0207B6         SUB           2.72268%         2,600,498.71        5,900.27
    X-1         81743YAC1         SEN           1.01649%                 0.00       69,479.56
    X-2         81743YAD9         SEN           1.30710%                 0.00      413,914.25
---------------------------------------------------------------------------------------------
Totals                                                         476,452,016.53    1,081,022.00

<CAPTION>
                                               Ending
             Principal         Current       Certificate           Total             Cumulative
   Class   Distribution     Realized Loss      Balance          Distribution       Realized Loss
------------------------------------------------------------------------------------------------
<S>       <C>               <C>             <C>                 <C>                <C>
     A     9,152,769.84          0.00       444,788,747.98      9,705,065.35            0.00
    A-R            0.00          0.00                 0.00              0.00            0.00
    B-1            0.00          0.00         8,080,000.00         12,591.33            0.00
    B-2            0.00          0.00         5,771,000.00         13,093.82            0.00
    B-3            0.00          0.00         3,463,000.00          7,857.20            0.00
    B-4            0.00          0.00         1,442,000.00          3,271.75            0.00
    B-5            0.00          0.00         1,154,000.00          2,618.31            0.00
    B-6            0.00          0.00         2,600,498.71          5,900.27            0.00
    X-1            0.00          0.00                 0.00         69,479.56            0.00
    X-2            0.00          0.00                 0.00        413,914.25            0.00
------------------------------------------------------------------------------------------------
Totals     9,152,769.84          0.00       467,299,246.69     10,233,791.84            0.00
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                   Beginning       Scheduled     Unscheduled
              Original Face       Certificate      Principal      Principal
   Class         Amount             Balance       Distribution  Distribution      Accretion
-------------------------------------------------------------------------------------------
<S>           <C>               <C>               <C>           <C>               <C>
     A        554,686,000.00    453,941,517.82        5.03      9,152,764.81         0.00
    A-R               100.00              0.00        0.00              0.00         0.00
    B-1         8,080,000.00      8,080,000.00        0.00              0.00         0.00
    B-2         5,771,000.00      5,771,000.00        0.00              0.00         0.00
    B-3         3,463,000.00      3,463,000.00        0.00              0.00         0.00
    B-4         1,442,000.00      1,442,000.00        0.00              0.00         0.00
    B-5         1,154,000.00      1,154,000.00        0.00              0.00         0.00
    B-6         2,600,498.71      2,600,498.71        0.00              0.00         0.00
    X-1                50.00              0.00        0.00              0.00         0.00
    X-2                50.00              0.00        0.00              0.00         0.00
-------------------------------------------------------------------------------------------
Totals        577,196,698.71    476,452,016.53        5.03      9,152,764.81         0.00

<CAPTION>
                                            Ending                 Ending
          Realized    Total Principal     Certificate           Certificate      Total Principal
   Class  Loss (1)      Reduction           Balance              Percentage        Distribution
------------------------------------------------------------------------------------------------
<S>       <C>         <C>                <C>                    <C>              <C>
     A      0.00       9,152,769.84      444,788,747.98          0.80187484       9,152,769.84
    A-R     0.00               0.00                0.00          0.00000000               0.00
    B-1     0.00               0.00        8,080,000.00          1.00000000               0.00
    B-2     0.00               0.00        5,771,000.00          1.00000000               0.00
    B-3     0.00               0.00        3,463,000.00          1.00000000               0.00
    B-4     0.00               0.00        1,442,000.00          1.00000000               0.00
    B-5     0.00               0.00        1,154,000.00          1.00000000               0.00
    B-6     0.00               0.00        2,600,498.71          1.00000000               0.00
    X-1     0.00               0.00                0.00          0.00000000               0.00
    X-2     0.00               0.00                0.00          0.00000000               0.00
------------------------------------------------------------------------------------------------
Totals      0.00       9,152,769.84      467,299,246.69          0.80960138       9,152,769.84
</TABLE>

(1) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                Beginning       Scheduled      Unscheduled
           Original Face       Certificate      Principal       Principal
Class         Amount             Balance      Distribution    Distribution     Accretion
----------------------------------------------------------------------------------------
<S>        <C>                <C>             <C>             <C>             <C>
  A        554,686,000.00      818.37565365    0.00000907      16.50080372    0.00000000
 A-R               100.00        0.00000000    0.00000000       0.00000000    0.00000000
 B-1         8,080,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-2         5,771,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-3         3,463,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-4         1,442,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-5         1,154,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-6         2,600,498.71     1000.00000000    0.00000000       0.00000000    0.00000000
 X-1                50.00        0.00000000    0.00000000       0.00000000    0.00000000
 X-2                50.00        0.00000000    0.00000000       0.00000000    0.00000000

<CAPTION>
                           Total             Ending               Ending
         Realized        Principal         Certificate          Certificate      Total Principal
Class    Loss (3)        Reduction           Balance            Percentage        Distribution
------------------------------------------------------------------------------------------------
<S>     <C>             <C>               <C>                   <C>              <C>
  A     0.00000000      16.50081278        801.87484086          0.80187484        16.50081278
 A-R    0.00000000       0.00000000          0.00000000          0.00000000         0.00000000
 B-1    0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-2    0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-3    0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-4    0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-5    0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-6    0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 X-1    0.00000000       0.00000000          0.00000000          0.00000000         0.00000000
 X-2    0.00000000       0.00000000          0.00000000          0.00000000         0.00000000
</TABLE>

(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                                              Payment of
                                 Current       Beginning        Current        Unpaid
             Original Face     Certificate    Certificate/      Accrued       Interest
 Class           Amount             Rate    Notional Balance    Interest      Shortfall
----------------------------------------------------------------------------------------
<S>          <C>               <C>          <C>               <C>             <C>
   A         554,686,000.00      1.46000%    453,941,517.82     552,295.51       0.00
  A-R                100.00      3.50978%              0.00           0.00       0.00
  B-1          8,080,000.00      1.87000%      8,080,000.00      12,591.33       0.00
  B-2          5,771,000.00      2.72268%      5,771,000.00      13,093.82       0.00
  B-3          3,463,000.00      2.72268%      3,463,000.00       7,857.20       0.00
  B-4          1,442,000.00      2.72268%      1,442,000.00       3,271.75       0.00
  B-5          1,154,000.00      2.72268%      1,154,000.00       2,618.31       0.00
  B-6          2,600,498.71      2.72268%      2,600,498.71       5,900.27       0.00
  X-1                 50.00      1.01649%     82,022,920.74      69,479.56       0.00
  X-2                 50.00      1.30710%    379,998,597.08     413,914.25       0.00
----------------------------------------------------------------------------------------
Totals       577,196,698.71                                   1,081,022.00       0.00

<CAPTION>
                                                                  Remaining       Ending
        Current    Non-Supported                                    Unpaid     Certificate/
        Interest     Interest       Realized  Total Interest      Interest      Notational
 Class  Shortfall   Shortfall       Loss (4)    Distribution      Shortfall      Balance
--------------------------------------------------------------------------------------------
<S>     <C>        <C>              <C>       <C>                 <C>         <C>
   A      0.00         0.00           0.00       552,295.51          0.00     444,788,747.98
  A-R     0.00         0.00           0.00             0.00          0.00               0.00
  B-1     0.00         0.00           0.00        12,591.33          0.00       8,080,000.00
  B-2     0.00         0.00           0.00        13,093.82          0.00       5,771,000.00
  B-3     0.00         0.00           0.00         7,857.20          0.00       3,463,000.00
  B-4     0.00         0.00           0.00         3,271.75          0.00       1,442,000.00
  B-5     0.00         0.00           0.00         2,618.31          0.00       1,154,000.00
  B-6     0.00         0.00           0.00         5,900.27          0.00       2,600,498.71
  X-1     0.00         0.00           0.00        69,479.56          0.00      78,956,928.58
  X-2     0.00         0.00           0.00       413,914.25          0.00     373,911,819.40
--------------------------------------------------------------------------------------------
Totals    0.00         0.00           0.00     1,081,022.00          0.00
</TABLE>

(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                              Payment of
                             Current        Beginning                           Unpaid
Class      Original Face   Certificate     Certificate/      Current Accrued   Interest
 (5)          Amount          Rate       Notional Balance        Interest      Shortfall
----------------------------------------------------------------------------------------
<S>         <C>             <C>           <C>                 <C>               <C>
  A       554,686,000.00    1.46000%        818.37565365        0.99569037    0.00000000
 A-R              100.00    3.50978%          0.00000000        0.00000000    0.00000000
 B-1        8,080,000.00    1.87000%       1000.00000000        1.55833292    0.00000000
 B-2        5,771,000.00    2.72268%       1000.00000000        2.26889967    0.00000000
 B-3        3,463,000.00    2.72268%       1000.00000000        2.26889980    0.00000000
 B-4        1,442,000.00    2.72268%       1000.00000000        2.26889736    0.00000000
 B-5        1,154,000.00    2.72268%       1000.00000000        2.26889948    0.00000000
 B-6        2,600,498.71    2.72268%       1000.00000000        2.26889941    0.00000000
 X-1               50.00    1.01649%    1640458.41480000     1389.59120000    0.00000000
 X-2               50.00    1.30710%    7599971.94160000     8278.28500000    0.00000000

<CAPTION>
                                                                      Remaining
           Current   Non-Supported                                      Unpaid           Ending
Class     Interest      Interest       Realized      Total Interest    Interest       Certificate/
 (5)      Shortfall    Shortfall       Loss (6)       Distribution     Shortfall   Notational Balance
-----------------------------------------------------------------------------------------------------
<S>      <C>         <C>              <C>            <C>              <C>          <C>
 A       0.00000000    0.00000000     0.00000000         0.99569037   0.00000000       801.874848046
A-R      0.00000000    0.00000000     0.00000000         0.00000000   0.00000000          0.00000000
B-1      0.00000000    0.00000000     0.00000000         1.55833292   0.00000000       1000.00000000
B-2      0.00000000    0.00000000     0.00000000         2.26889967   0.00000000       1000.00000000
B-3      0.00000000    0.00000000     0.00000000         2.26889980   0.00000000       1000.00000000
B-4      0.00000000    0.00000000     0.00000000         2.26889736   0.00000000       1000.00000000
B-5      0.00000000    0.00000000     0.00000000         2.26889948   0.00000000       1000.00000000
B-6      0.00000000    0.00000000     0.00000000         2.26889941   0.00000000       1000.00000000
X-1      0.00000000    0.00000000     0.00000000      1389.59120000   0.00000000    1579138.57160000
X-2      0.00000000    0.00000000     0.00000000      8278.28500000   0.00000000    7478236.38800000
</TABLE>

(5) Per $1 denomination

(6) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                            <C>
Beginning Balance                                                       0.00

Deposits
         Payments of Interest and Principal                    10,386,858.52
         Liquidations, Insurance Proceeds, Reserve Funds                0.00
         Proceeds from Repurchased Loans                                0.00
         Other Amounts (Servicer Advances)                            295.99
         Realized Losses                                                0.00
         Prepayment Penalties                                           0.00
                                                               -------------
                                                               10,387,154.51
Total Deposits

Withdrawals
         Reimbursement for Servicer Advances                          295.99
         Payment of Service Fee                                   153,066.68
         Payment of Interest and Principal                     10,233,791.84
                                                               -------------

Total Withdrawals (Pool Distribution Amount)                   10,387,154.51

Ending Balance                                                          0.00
                                                               =============
</TABLE>

<PAGE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                            <C>
Total Prepayment/Curtailment Interest Shortfall                0.00
Servicing Fee Support                                          0.00
                                                               ----
Non-Supported Prepayment Curtailment Interest Shortfall        0.00
                                                               ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                            <C>
Gross Servicing Fee                                            149,096.23
Master Servicing Fee                                             3,970.45
Supported Prepayment/Curtailment Interest Shortfall                  0.00
                                                               ----------

Net Servicing Fee                                              153,066.68
                                                               ==========
</TABLE>

<TABLE>
<CAPTION>
                                         Beginning          Current          Current        Ending
        Account Type                      Balance         Withdrawals       Deposits       Balance
---------------------------------------------------------------------------------------------------
<S>                                      <C>              <C>               <C>            <C>
Basis Risk Reserve Fund - X-1             1,512.56            0.00             0.00        1,512.56
Basis Risk Reserve Fund - X-2             8,487.44            0.00             0.00        8,487.44
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY
---------------------------------------- ---------------------------------
                 No. of      Principal                 No. of    Principal
                  Loans       Balance                  Loans      Balance
<S>             <C>          <C>         <C>         <C>         <C>
30 Days             1        149,550.97  30 Days         0          0.00
60 Days             0              0.00  60 Days         0          0.00
90 Days             0              0.00  90 Days         0          0.00
120 Days            0              0.00  120 Days        0          0.00
150 Days            0              0.00  150 Days        0          0.00
180+ Days           0              0.00  180+ Days       0          0.00
                ---------    ----------              ---------   ---------
                    1        149,550.97                  0          0.00

                 No. of      Principal                 No. of    Principal
                  Loans       Balance                  Loans      Balance

30 Days         0.077101%    0.032004%   30 Days     0.000000%   0.000000%
60 Days         0.000000%    0.000000%   60 Days     0.000000%   0.000000%
90 Days         0.000000%    0.000000%   90 Days     0.000000%   0.000000%
120 Days        0.000000%    0.000000%   120 Days    0.000000%   0.000000%
150 Days        0.000000%    0.000000%   150 Days    0.000000%   0.000000%
180+ Days       0.000000%    0.000000%   180+ Days   0.000000%   0.000000%
                ---------    --------                --------    --------
                0.077101%    0.032004%               0.000000%   0.000000%

<CAPTION>
         FORECLOSURE                              REO                                 TOTAL
---------------------------------  ------------------------------------  ------------------------------------
              No. of    Principal                  No. of    Principal                 No. of      Principal
              Loans      Balance                   Loans      Balance                   Loans       Balance
<S>         <C>         <C>         <C>          <C>         <C>         <C>          <C>          <C>
30 Days         0          0.00     30 Days          0          0.00     30 Days          1        149,550.97
60 Days         0          0.00     60 Days          0          0.00     60 Days          0              0.00
90 Days         0          0.00     90 Days          0          0.00     90 Days          0              0.00
120 Days        0          0.00     120 Days         0          0.00     120 Days         0              0.00
150 Days        0          0.00     150 Days         0          0.00     150 Days         0              0.00
180+ Days       0          0.00     180+ Days        0          0.00     180+ Days        0              0.00
            ---------   ---------                ---------   ---------                ---------    ----------
                0          0.00                      0          0.00                      1        149,550.97

              No. of    Principal                  No. of    Principal                 No. of      Principal
              Loans      Balance                   Loans      Balance                   Loans       Balance

30 Days     0.000000%   0.000000%   30 Days      0.000000%   0.000000%   30 Days      0.077101%    0.032004%
60 Days     0.000000%   0.000000%   60 Days      0.000000%   0.000000%   60 Days      0.000000%    0.000000%
90 Days     0.000000%   0.000000%   90 Days      0.000000%   0.000000%   90 Days      0.000000%    0.000000%
120 Days    0.000000%   0.000000%   120 Days     0.000000%   0.000000%   120 Days     0.000000%    0.000000%
150 Days    0.000000%   0.000000%   150 Days     0.000000%   0.000000%   150 Days     0.000000%    0.000000%
180+ Days   0.000000%   0.000000%   180+ Days    0.000000%   0.000000%   180+ Days    0.000000%    0.000000%
            ---------   ---------                ---------   ---------                ---------    ----------
            0.000000%   0.000000%                0.000000%   0.000000%                0.077101%    0.032004%
</TABLE>

<TABLE>
<S>                                          <C>    <C>                                           <C>   <C>               <C>
Current Period Class A Insufficient Funds:   0.00   Principal Balance of Contaminated Properties  0.00  Periodic Advance  295.99
</TABLE>

<TABLE>
<CAPTION>
                  Original $       Original %       Current $        Current %
<S>              <C>              <C>            <C>                <C>
    Bankruptcy      100,261.00    0.01737033%       100,261.00      0.02145542%
         Fraud   17,315,901.00    3.00000001%    10,161,109.97      2.17443320%
Special Hazard    5,771,967.00    1.00000000%     4,700,000.00      1.00577949%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                 ONE-MONTH LIBOR

<TABLE>
<CAPTION>
              DELINQUENT                            BANKRUPTCY                          FORECLOSURE
-------------------------------------------------------------------------------------------------------------
                No. of     Principal                 No. of    Principal                 No. of     Principal
                Loans       Balance                  Loans      Balance                  Loans       Balance
<S>           <C>          <C>         <C>         <C>         <C>         <C>         <C>          <C>
30 Days           0           0.00     30 Days         0          0.00     30 Days         0           0.00
60 Days           0           0.00     60 Days         0          0.00     60 Days         0           0.00
90 Days           0           0.00     90 Days         0          0.00     90 Days         0           0.00
120 Days          0           0.00     120 Days        0          0.00     120 Days        0           0.00
150 Days          0           0.00     150 Days        0          0.00     150 Days        0           0.00
180+ Days         0           0.00     180+ Days       0          0.00     180+ Days       0           0.00
              ---------    ---------               ---------   ---------               ---------    ---------
                  0           0.00                     0          0.00                     0           0.00

                No. of     Principal                 No. of    Principal                 No. of     Principal
                Loans       Balance                  Loans      Balance                  Loans       Balance

30 Days       0.000000%    0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days       0.000000%    0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days       0.000000%    0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days      0.000000%    0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days      0.000000%    0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days     0.000000%    0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
              ---------    ---------               ---------   ---------               ---------    ---------
              0.000000%    0.000000%               0.000000%   0.000000%               0.000000%    0.000000%

<CAPTION>
               REO                                 TOTAL
----------------------------------------------------------------------
              No. of    Principal                 No. of     Principal
              Loans      Balance                  Loans       Balance
<S>         <C>         <C>         <C>         <C>          <C>
30 Days         0          0.00     30 Days         0          0.00
60 Days         0          0.00     60 Days         0          0.00
90 Days         0          0.00     90 Days         0          0.00
120 Days        0          0.00     120 Days        0          0.00
150 Days        0          0.00     150 Days        0          0.00
180+ Days       0          0.00     180+ Days       0          0.00
            ---------   ---------               ---------   -------
                0          0.00                     0          0.00

              No. of    Principal                 No. of     Principal
              Loans      Balance                  Loans       Balance

30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
            ---------   ---------               ---------    ---------
            0.000000%   0.000000%               0.000000%    0.000000%
</TABLE>

                                 SIX-MONTH LIBOR

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
--------------------------------------------------------------------------------------------------------------
                 No. of      Principal                 No. of    Principal                 No. of    Principal
                  Loans       Balance                  Loans      Balance                  Loans      Balance
<S>             <C>          <C>         <C>         <C>         <C>         <C>         <C>         <C>
30 Days             1        149,550.97  30 Days         0          0.00     30 Days         0          0.00
60 Days             0              0.00  60 Days         0          0.00     60 Days         0          0.00
90 Days             0              0.00  90 Days         0          0.00     90 Days         0          0.00
120 Days            0              0.00  120 Days        0          0.00     120 Days        0          0.00
150 Days            0              0.00  150 Days        0          0.00     150 Days        0          0.00
180+ Days           0              0.00  180+ Days       0          0.00     180+ Days       0          0.00
                ---------    ----------              ---------   ---------               ---------   ---------
                    1        149,550.97                  0          0.00                     0          0.00

                 No. of      Principal                 No. of    Principal                 No. of    Principal
                  Loans       Balance                  Loans      Balance                  Loans      Balance

30 Days         0.091743%    0.038761%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days         0.000000%    0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days         0.000000%    0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days        0.000000%    0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days        0.000000%    0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days       0.000000%    0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
                ---------    ----------              ---------   ---------               ---------   ---------
                0.091743%    0.038761%               0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                REO                                 TOTAL
-------------------------------------------------------------------------
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance
<C>          <C>         <C>         <C>         <C>          <C>
30 Days          0          0.00     30 Days         1         149,550.97
60 Days          0          0.00     60 Days         0               0.00
90 Days          0          0.00     90 Days         0               0.00
120 Days         0          0.00     120 Days        0               0.00
150 Days         0          0.00     150 Days        0               0.00
180+ Days        0          0.00     180+ Days       0               0.00
             ---------   ---------               ---------    -----------
                 0          0.00                     1         149,550.97

               No. of    Principal                 No. of        Principal
               Loans      Balance                  Loans          Balance

30 Days      0.000000%   0.000000%   30 Days     0.091743%       0.038761%
60 Days      0.000000%   0.000000%   60 Days     0.000000%       0.000000%
90 Days      0.000000%   0.000000%   90 Days     0.000000%       0.000000%
120 Days     0.000000%   0.000000%   120 Days    0.000000%       0.000000%
150 Days     0.000000%   0.000000%   150 Days    0.000000%       0.000000%
180+ Days    0.000000%   0.000000%   180+ Days   0.000000%       0.000000%
             ---------   ---------               ---------       --------
             0.000000%   0.000000%               0.091743%       0.038761%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                   Mixed Fixed & Arm
<S>                                                                      <C>
Weighted Average Gross Coupon                                                   3.108196%
Weighted Average Net Coupon                                                     2.732680%
Weighted Average Pass-Through Rate                                              2.722680%
Weighted Average Maturity (Stepdown Calculation)                                     343

Beginning Scheduled Collateral Loan Count                                          1,321
Number of Loans Paid in Full                                                          24
Ending Scheduled Collateral Loan Count                                             1,297

Beginning Scheduled Collateral Balance                                    476,452,016.53
Ending Scheduled Collateral Balance                                       467,299,246.69
Ending Actual Collateral Balance at 30-Sept-2003                          467,295,291.70

Monthly P&I Constant                                                        1,234,093.70
Special Servicing Fee                                                               0.00
Prepayment Penalties                                                                0.00
Realization Loss Amount                                                             0.00
Cumulative Realized Loss                                                            0.00
Scheduled Principal                                                                 5.03
Unscheduled Principal                                                       9,152,764.81
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                      <C>
Pro Rata Senior Percent                   95.275390%
Senior Percent                           100.000000%
Senior Prepay Percent                    100.000000%
Subordinate Percent                        0.000000%
Subordinate Prepay Percent                 0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                          ONE MONTH LIBOR    SIX MONTH LIBOR           TOTAL
<S>                                        <C>               <C>                   <C>
Collateral Description                            Monthly        6 Month Arm        Mixed Fixed & Arm
Weighted Average Coupon Rate                     2.868660           3.159900                 3.108196
Weighted Average Net Rate                        2.493660           2.784273                 2.732680
Pass-Through Rate                                2.483660           2.774273                 2.722680
Weighted Average Maturity                             303                304                      343
Record Date                                    09/30/2003         09/30/2003               09/30/2003
Principal and Interest Constant                202,204.17       1,031,889.53             1,234,093.70
Beginning Loan Count                                  213              1,108                    1,321
Loans Paid in Full                                      6                 18                       24
Ending Loan Count                                     207              1,090                    1,297
Beginning Scheduled Balance                 84,584,774.69     391,867,241.84           476,452,016.53
Ending Scheduled Balance                    81,472,862.53     385,826,384.16           467,299,246.69
Scheduled Principal                                  0.03               5.00                     5.03
Unscheduled Principal                        3,111,912.13       6,040,852.68             9,152,764.81
Scheduled Interest                             202,204.14       1,031,884.53             1,234,088.67
Servicing Fee                                   26,432.74         122,663.49               149,096.23
Master Servicing Fee                               704.88           3,265.57                 3,970.45
Trustee Fee                                          0.00               0.00                     0.00
FRY Amount                                           0.00               0.00                     0.00
Special Hazard Fee                                   0.00               0.00                     0.00
Other Fee                                            0.00               0.00                     0.00
Pool Insurance Fee                                   0.00               0.00                     0.00
Spread 1                                             0.00               0.00                     0.00
Spread 2                                             0.00               0.00                     0.00
Spread 3                                             0.00               0.00                     0.00
Net Interest                                   175,066.52         905,955.47             1,081,021.99
Realized Loss Amount                                 0.00               0.00                     0.00
Cumulative Realized Loss                             0.00               0.00                     0.00
Percentage of Cumulative Losses                      0.00               0.00                     0.00
Prepayment Penalties                                 0.00               0.00                     0.00
Special Servicing Fee                                0.00               0.00                     0.00
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]