Document:

<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 2002-8
                          RECORD DATE: OCTOBER 31, 2002
                      DISTRIBUTION DATE: NOVEMBER 20, 2002
                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate
                  Certificate    Pass-      Beginning                                Current     Ending                   Cumulative
                     Class      Through    Certificate     Interest     Principal   Realized   Certificate      Total      Realized
Class   CUSIP     Description     Rate       Balance     Distribution  Distribution    Loss       Balance    Distribution    Loss
-----   -----     -----------     ----       -------     ------------  ------------    ----       -------    ------------    ----
<S>    <C>        <C>         <C>         <C>            <C>          <C>           <C>      <C>            <C>            <C>
  1-A1  81743RAA0       SEN      1.96000%  37,783,510.26    61,713.07  7,504,494.72     0.00  30,279,015.54  7,566,207.79       0.00
  1-A2  81743RAB8       SEN      3.45500%  61,468,000.00   176,976.62          0.00     0.00  61,468,000.00    176,976.62       0.00
   2A   81743RAC6       SEN      2.13000% 457,636,382.23   812,304.58  5,979,772.74     0.00 451,656,609.49  6,792,077.32       0.00
   3A   81743RAD4       SEN      3.90818%  49,744,578.15   162,008.86  1,862,086.46     0.00  47,882,491.69  2,024,095.32       0.00
   X-1  81743RAE2        IO      2.47953%           0.00   205,083.64          0.00     0.00           0.00    205,083.64       0.00
  X-2A 81743RAFf9        IO      1.08391%           0.00   168,421.96          0.00     0.00           0.00    168,421.96       0.00
  X-2B  81743AFG7        IO      1.41114%           0.00   318,894.76          0.00     0.00           0.00    318,894.76       0.00
   X-B  81743RAH5        IO      1.29243%           0.00     9,770.32          0.00     0.00           0.00      9,770.32       0.00
   A-R  81743RAJ1       SEN      5.37470%           0.00         0.00          0.00     0.00           0.00          0.00       0.00
   B-1  81743RAK8       SUB      2.50500%   9,069,000.00    18,931.54          0.00     0.00   9,069,000.00     18,931.54       0.00
   B-2  81743RAL6       SUB      3.79743%   5,505,000.00    17,420.70          0.00     0.00   5,505,000.00     17,420.70       0.00
   B-3  81743RAM4       SUB      3.79743%   3,886,000.00    12,297.33          0.00     0.00   3,886,000.00     12,297.33       0.00
   B-4  SMT0208B4       SUB      3.79743%   1,618,000.00     5,120.20          0.00     0.00   1,618,000.00      5,120.20       0.00
   B-5  SMT0208B5       SUB      3.79743%     970,000.00     3,069.59          0.00     0.00     970,000.00      3,069.59       0.00
   B-6  SMT0208B6       SUB      3.79743%   2,306,324.82     7,298.42          0.00     0.00   2,306,324.82      7,298.42       0.00
                                          -------------- ------------ -------------     ---- -------------- -------------       ----
Totals                                    629,986,795.46 1,979,311.59 15,346,353.92     0.00 614,640,441.54 17,325,665.51       0.00
                                          ============== ============ =============     ==== ============== =============       ====
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
<PAGE>
                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                Original          Beginning       Scheduled      Unscheduled                                  Total
                  Face           Certificate      Principal       Principal                   Realized      Principal
 Class          Amount            Balance        Distribution    Distribution    Accretion    Loss (1)      Reduction
 -----          ------            -------        ------------    ------------    ---------    --------      ---------
<S>          <C>               <C>               <C>             <C>             <C>          <C>         <C>
  1-A1        50,000,000.00     37,783,520.26        1,209.58     7,503,285.14        0.00        0.00     7,504,494.72
  1-A2        61,468,000.00     61,468,000.00            0.00             0.00        0.00        0.00             0.00
   2A        463,097,000.00    457,636,382.23           25.36     5,979,747.38        0.00        0.00     5,979,772.74
   3A         49,973,000.00     49,744,578.15           43.76     1,862,042.70        0.00        0.00     1,862,086.46
   X-1                 0.00              0.00            0.00             0.00        0.00        0.00             0.00
  X-2A                 0.00              0.00            0.00             0.00        0.00        0.00             0.00
  X-2B                 0.00              0.00            0.00             0.00        0.00        0.00             0.00
   X-B                 0.00              0.00            0.00             0.00        0.00        0.00             0.00
   A-R               100.00              0.00            0.00             0.00        0.00        0.00             0.00
   B-1         9,069,000.00      9,069,000.00            0.00             0.00        0.00        0.00             0.00
   B-2         5,505,000.00      5,505,000.00            0.00             0.00        0.00        0.00             0.00
   B-3         3,886,000.00      3,886,000.00            0.00             0.00        0.00        0.00             0.00
   B-4         1,618,000.00      1,618,000.00            0.00             0.00        0.00        0.00             0.00
   B-5           970,000.00        970,000.00            0.00             0.00        0.00        0.00             0.00
   B-6         2,306,324.82      2,306,324.82            0.00             0.00        0.00        0.00             0.00
             --------------    --------------        --------    -------------        ----        ----    -------------
Totals       647,892,424.82    629,986,795.46        1,278.70    15,345,075.22        0.00        0.00    15,346,353.92
             ==============    ==============        ========    =============        ====        ====    =============
</TABLE>

<TABLE>
<CAPTION>
                Ending            Ending          Total
              Certificate       Certificate      Principal
 Class          Balance          Percentage     Distribution
 -----          -------          ----------     ------------
<S>          <C>                <C>            <C>
  1-A1        30,279,015.54      0.60558031     7,504,494.72
  1-A2        61,468,000.00      1.00000000             0.00
   2A        451,656,609.49      0.97529591     5,979,772.74
   3A         47,882,491.69      0.95816724     1,862,086.46
   X-1                 0.00      0.00000000             0.00
  X-2A                 0.00      0.00000000             0.00
  X-2B                 0.00      0.00000000             0.00
   X-B                 0.00      0.00000000             0.00
   A-R                 0.00      0.00000000             0.00
   B-1         9,069,000.00      1.00000000             0.00
   B-2         5,505,000.00      1.00000000             0.00
   B-3         3,886,000.00      1.00000000             0.00
   B-4         1,618,000.00      1.00000000             0.00
   B-5           970,000.00      1.00000000             0.00
   B-6         2,306,324.82      1.00000000             0.00
             --------------      ----------    -------------
Totals       614,640,441.54      0.94867669    15,346,353.92
             ==============      ==========    =============
</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.

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                             Beginning      Scheduled     Unscheduled                                     Total
          Original Face     Certificate     Principal      Principal                      Realized      Principal
Class        Amount           Balance      Distribution   Distribution     Accretion      Loss (3)      Reduction
-----        ------           -------      ------------   ------------     ---------      --------      ---------
<S>      <C>               <C>             <C>            <C>              <C>           <C>           <C>
1-A1      50,000,000.00     755.67020520    0.02419160     150.06570280    0.00000000    0.00000000    150.08989440
1-A2      61,468,000.00    1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 2A      463,097,000.00     988.20847950    0.00005476      12.91251591    0.00000000    0.00000000     12.91257067
 3A       49,973,000.00     995.42909471    0.00087567      37.26097493    0.00000000    0.00000000     37.26185060
 X-1               0.00       0.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
X-2A               0.00       0.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
X-2B               0.00       0.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 X-B               0.00       0.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 A-R             100.00    1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 B-1       9,069,000.00    1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 B-2       5,505,000.00    1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 B-3       3,886,000.00    1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 B-4       1,618,000.00    1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 B-5         970,000.00    1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
 B-6       2,306,324.82    1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000      0.00000000
</TABLE>

<TABLE>
<CAPTION>
            Ending           Ending          Total
          Certificate      Certificate      Principal
Class       Balance         Percentage     Distribution
-----       -------         ----------     ------------
<S>      <C>                <C>            <C>
1-A1      605.58031080      0.60558031     150.08989440
1-A2     1000.00000000      1.00000000       0.00000000
 2A       975.29590883      0.97529591      12.91257067
 3A       958.16724411      0.95816724      37.26185060
 X-1        0.00000000      0.00000000       0.00000000
X-2A        0.00000000      0.00000000       0.00000000
X-2B        0.00000000      0.00000000       0.00000000
 X-B        0.00000000      0.00000000       0.00000000
 A-R        0.00000000      0.00000000       0.00000000
 B-1     1000.00000000      1.00000000       0.00000000
 B-2     1000.00000000      1.00000000       0.00000000
 B-3     1000.00000000      1.00000000       0.00000000
 B-4     1000.00000000      1.00000000       0.00000000
 B-5     1000.00000000      1.00000000       0.00000000
 B-6     1000.00000000      1.00000000       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.
<PAGE>
                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                              Beginning                     Payment of                   Non-
                               Current       Certificate/       Current       Unpaid      Current      Supported
            Original Face    Certificate       Notional         Accrued      Interest     Interest     Interest     Realized
 Class         Amount           Rate            Balance         Interest     Shortfall    Shortfall    Shortfall    Loss (4)
 -----         ------           ----            -------         --------     ---------    ---------    ---------    --------
<S>        <C>               <C>            <C>              <C>            <C>           <C>          <C>          <C>
 1-A1       50,000,000.00       1.96000%     37,783,510.26      61,713.07         0.00         0.00         0.00        0.00
 1-A2       61,468,000.00       3.45500%     61,468,000.00     176,976.62         0.00         0.00         0.00        0.00
  2A       463,097,000.00       2.13000%    457,636,382.23     812,304.58         0.00         0.00         0.00        0.00
  3A        49,973,000.00       3.90818%     49,744,578.15     162,008.86         0.00         0.00         0.00        0.00
  X-1                0.00       2.47953%     99,251,510.26     205,080.83         0.00         0.00         0.00        0.00
 X-2A                0.00       1.08391%    186,458,723.72     168,420.02         0.00         0.00         0.00        0.00
 X-2B                0.00       1.41114%    271,177,658.51     318,891.08         0.00         0.00         0.00        0.00
  X-B                0.00       1.29243%      9,069,000.00       9,767.51         0.00         0.00         0.00        0.00
  A-R              100.00       5.37470%              0.00           0.00         0.00         0.00         0.00        0.00
  B-1        9,069,000.00       2.50500%      9,069,000.00      18,931.54         0.00         0.00         0.00        0.00
  B-2        5,505,000.00       3.79743%      5,505,000.00      17,420.70         0.00         0.00         0.00        0.00
  B-3        3,886,000.00       3.79743%      3,886,000.00      12,297.33         0.00         0.00         0.00        0.00
  B-4        1,618,000.00       3.79743%      1,618,000.00       5,120.20         0.00         0.00         0.00        0.00
  B-5          970,000.00       3.79743%        970,000.00       3,069.59         0.00         0.00         0.00        0.00
  B-6        2,306,324.82       3.79743%      2,306,324.82       7,298.42         0.00         0.00         0.00        0.00
           --------------                                    ------------         ----         ----         ----        ----
Totals     647,892,424.82                                    1,979,300.35         0.00         0.00         0.00        0.00
           ==============                                    ============         ====         ====         ====        ====
</TABLE>

<TABLE>
<CAPTION>
                           Remaining       Ending
              Total         Unpaid       Certificate/
             Interest      Interest       Notational
 Class     Distribution    Shortfall       Balance
 -----     ------------    ---------       -------
<S>        <C>             <C>          <C>
 1-A1         61,713.07         0.00     30,279,015.54
 1-A2        176,976.62         0.00     61,468,000.00
  2A         812,304.58         0.00    451,656,609.49
  3A         162,008.86         0.00     47,882,491.69
  X-1        205,083.64         0.00     91,747,015.54
 X-2A        168,421.96         0.00    184,835,868.52
 X-2B        318,894.76         0.00    266,820,740.97
  X-B          9,770.32         0.00      9,069,000.00
  A-R              0.00         0.00              0.00
  B-1         18,931.54         0.00      9,069,000.00
  B-2         17,420.70         0.00      5,505,000.00
  B-3         12,297.33         0.00      3,886,000.00
  B-4          5,120.20         0.00      1,618,000.00
  B-5          3,069.59         0.00        970,000.00
  B-6          7,298.42         0.00      2,306,324.82
           ------------         ----
Totals     1,979,311.59         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>
                                                Beginning                     Payment of                     Non-
                                 Current       Certificate/      Current       Unpaid        Current       Supported
             Original Face     Certificate       Notional        Accrued      Interest      Interest       Interest      Realized
Class (5)       Amount            Rate           Balance         Interest     Shortfall     Shortfall      Shortfall     Loss (6)
---------       ------            ----           -------         --------     ---------     ---------      ---------     --------
<S>          <C>               <C>            <C>               <C>           <C>           <C>           <C>           <C>
  1-A1        50,000,000.00      1.96000%      755.67020520     1.23426140    0.00000000    0.00000000    0.00000000    0.00000000
  1-A2        61,468,000.00      3.45500%     1000.00000000     2.87916672    0.00000000    0.00000000    0.00000000    0.00000000
   2A        463,097,000.00      2.13000%      988.20847950     1.75407005    0.00000000    0.00000000    0.00000000    0.00000000
   3A         49,973,000.00      3.90818%      995.42909471     3.24192784    0.00000000    0.00000000    0.00000000    0.00000000
   X-1                 0.00      2.47953%      890.40361593     1.83981797    0.00000000    0.00000000    0.00000000    0.00000000
  X-2A                 0.00      1.08391%      989.88128257     0.89411652    0.00000000    0.00000000    0.00000000    0.00000000
  X-2B                 0.00      1.41114%      987.06155523     1.16073399    0.00000000    0.00000000    0.00000000    0.00000000
   X-B                 0.00      1.29243%     1000.00000000     1.07702172    0.00000000    0.00000000    0.00000000    0.00000000
   A-R               100.00      5.37470%        0.00000000     0.00000000    0.00000000    0.00000000    0.00000000    0.00000000
   B-1         9,069,000.00      2.50500%     1000.00000000     2.08750028    0.00000000    0.00000000    0.00000000    0.00000000
   B-2         5,505,000.00      3.79743%     1000.00000000     3.16452316    0.00000000    0.00000000    0.00000000    0.00000000
   B-3         3,886,000.00      3.79743%     1000.00000000     3.16452136    0.00000000    0.00000000    0.00000000    0.00000000
   B-4         1,618,000.00      3.79743%     1000.00000000     3.16452410    0.00000000    0.00000000    0.00000000    0.00000000
   B-5           970,000.00      3.79743%     1000.00000000     3.16452577    0.00000000    0.00000000    0.00000000    0.00000000
   B-6         2,306,324.82      3.79743%     1000.00000000     3.16452389    0.00000000    0.00000000    0.00000000    0.00000000
</TABLE>

<TABLE>
<CAPTION>
                              Remaining           Ending
                Total          Unpaid          Certificate/
               Interest       Interest          Notational
Class (5)    Distribution     Shortfall           Balance
---------    ------------     ---------           -------
<S>          <C>             <C>               <C>
  1-A1         1.23426140    0.00000000         605.58031080
  1-A2         2.87916672    0.00000000        1000.00000000
   2A          1.75407005    0.00000000         975.29590883
   3A          3.24192784    0.00000000         958.16724411
   X-1         1.83984318    0.00000000         823.07940880
  X-2A         0.89412682    0.00000000         981.26578872
  X-2B         1.16074738    0.00000000         971.20277901
   X-B         1.07733157    0.00000000        1000.00000000
   A-R         0.00000000    0.00000000           0.00000000
   B-1         2.08750028    0.00000000        1000.00000000
   B-2         3.16452316    0.00000000        1000.00000000
   B-3         3.16452136    0.00000000        1000.00000000
   B-4         3.16452410    0.00000000        1000.00000000
   B-5         3.16452577    0.00000000        1000.00000000
   B-6         3.16452389    0.00000000        1000.00000000
</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                   17,520,314.77
         Liquidations, Insurance Proceeds, Reserve Funds              11.23
         Proceeds from Repurchased Loans                               0.00
         Other Amounts (Servicer Advances)                           740.00
         Realized Losses                                               0.00
         Prepayment Penalties                                          0.00
                                                              -------------
Total Deposits                                                17,521,066.00

Withdrawals

         Reimbursement for Servicer Advances                           0.00
         Payment of Service Fee                                  195,400.49
         Payment of Interest and Principal                    17,325,665.51
                                                              -------------
Total Withdrawals (Pool Distribution Amount)                  17,521,066.00

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                                                   190,675.60
Master Servicing Fee                                                    4,724.89
Non-Supported Prepayment/Curtailment Interest Shortfall                     0.00
                                                                      ----------
Net Servicing Fee                                                     195,400.49
                                                                      ==========
</TABLE>

<TABLE>
<CAPTION>
                                      Beginning       Current       Current     Ending
           Account Type                Balance      Withdrawals    Deposits     Balance
           ------------                -------      -----------    --------     -------
<S>                                   <C>           <C>            <C>         <C>
Class X-1 Basis Risk Reserve Fund     2,500.00         2.81          2.81      2,500.00
Class X-2 Basis Risk Reserve Fund     5,000.00         5.62          5.62      5,000.00
Class X-B Basis Risk Reserve Fund     2,500.00         2.81          2.81      2,500.00
</TABLE>
<PAGE>
             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<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>
0-29 Days          0             0.00  0-29 Days       0             0.00  0-29 Days       0              0.00
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            1       222,000.00  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       222,000.00                  0             0.00                  0              0.00

<Caption>

                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
0-29 Days      0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
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        0.063492%   0.036119%   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%
               --------    --------                --------    --------                --------     --------
               0.063492%   0.036119%               0.000000%   0.000000%               0.000000%    0.000000%
</TABLE>

<TABLE>
<CAPTION>
               REO                                TOTAL
               ---                                -----

              No. of     Principal                No. of    Principal
              Loans       Balance                 Loans      Balance
              -----       -------                 -----      -------
<S>         <C>         <C>         <C>         <C>         <C>
0-29 Days       0             0.00  0-29 Days       0             0.00
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         1       222,000.00
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       222,000.00

<Caption>

              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>         <C>         <C>         <C>         <C>         <C>
0-29 Days   0.000000%   0.000000%   0-29 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%
90 Days     0.000000%   0.000000%   90 Days     0.063492%   0.036119%
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%               0.063492%   0.036119%
</TABLE>

<TABLE>
<S>                                             <C>
Current Period Class A Insufficient Funds:        0.00
Principal Balance of Contaminated Properties      0.00
Periodic Advance                                740.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                 Original $        Original%         Current $         Current %      Current Class %      Prepayment %
                 ----------        ---------         ---------         ---------      ---------------      ------------
<S>            <C>                <C>             <C>                <C>                  <C>                 <C>
Class A        647,892,324.82     99.99998457%    614,640,441.54     100.00000000%        96.200327%          0.000000%
Class 1-A-1    597,892,324.82     92.28265402%    584,361,426.00      95.07370269%         4.926297%        129.650571%
Class 1-A-2    536,424,324.82     82.79527654%    522,893,426.00      85.07305909%        10.000644%        263.197504%
Class 2A        73,327,324.82     11.31782407%     71,236,816.51      11.58999826%        73.483061%      1,933.931351%
Class 3A        23,354,324.82      3.60466089%     23,354,324.82       3.79967266%         7.790326%        205.026230%
Class X-1       23,354,324.82      3.60466089%     23,354,324.82       3.79967266%         0.000000%          0.000000%
Class B-1       14,285,324.82      2.20489147%     14,285,324.82       2.32417587%         1.475497%         38.832208%
Class B-2        8,780,324.82      1.35521338%     14,285,324.82       1.42853028%         0.895464%         23.571651%
Class B-3        4,894,324.82      0.75542245%      8,780,324.82       0.79629072%         0.632240%         16.639316%
Class B-4        3,276,324.82      0.50568963%      4,894,324.82       0.53304739%         0.263243%          6.928053%
Class B-5        2,306,324.82      0.35597342%      3,276,324.82       0.37523154%         0.157816%          4.153406%
Class B-6                0.00      0.00000000%      2,306,324.82       0.00000000%         0.375232%          9.875365%
</TABLE>

Please refer to the prospectus supplement for a full description of loss
exposure

<TABLE>
<CAPTION>
                    Original $         Original %          Current $           Current %
                    ----------         ----------          ---------           ---------
<S>               <C>                  <C>               <C>                   <C>
    Bankruptcy       126,045.00        0.01945462%          126,045.00         0.02050711%
         Fraud    19,436,773.00        3.00000004%       19,436,773.00         3.16229973%
Special Hazard    15,500,000.00        2.39237247%       15,500,000.00         2,52179957%
</TABLE>

Limit of subordinate's exposure to certain types of losses
<PAGE>
                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1

<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>
0-29 Days          0           0.00    0-29 Days       0           0.00    0-29 Days       0            0.00
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

<Caption>
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
0-29 Days      0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
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%
</TABLE>

<TABLE>
<CAPTION>
               REO                                TOTAL
               ---                                -----
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
              -----      -------                  -----      -------
<S>         <C>         <C>         <C>         <C>         <C>
0-29 Days       0           0.00    0-29 Days       0           0.00
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

<Caption>
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>         <C>         <C>         <C>         <C>         <C>
0-29 Days   0.000000%   0.000000%   0-29 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%
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>

                                     GROUP 2

<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>
0-29 Days          0           0.00                    0           0.00                    0            0.00
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

<Caption>
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
0-29 Days      0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
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%
</TABLE>

<TABLE>
<CAPTION>
               REO                                TOTAL
               ---                                -----
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
              -----      -------                  -----      -------
<S>         <C>         <C>         <C>         <C>         <C>
                0           0.00                    0           0.00
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

<Caption>
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>         <C>         <C>         <C>         <C>         <C>
0-29 Days   0.000000%   0.000000%   0-29 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%
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>
<PAGE>
                                     Group 3

<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>
0-29 Days          0           0.00                    0           0.00                    0            0.00
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            1     222,000.00    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     222,000.00                    0           0.00                    0            0.00

<CAPTION>
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>       <C>           <C>         <C>         <C>         <C>         <C>          <C>
0-29 Days      0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
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        0.675676%    0.445967%  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%
               --------    --------                --------    --------                --------     --------
               0.675676%   0.445967%               0.000000%   0.000000%               0.000000%    0.000000%
</TABLE>

<TABLE>
<CAPTION>
               REO                                TOTAL
               ---                                -----

              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
              -----      -------                  -----      -------
<S>         <C>         <C>         <C>         <C>       <C>
                0           0.00                    0           0.00
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         1     222,000.00
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     222,000.00

<CAPTION>
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>         <C>         <C>         <C>         <C>       <C>
0-29 Days   0.000000%   0.000000%   0-29 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%
90 Days     0.000000%   0.000000%   90 Days     0.675676%   0.445967%
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%               0.675676%   0.445967%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                             Mixed Arm
<S>                                                           <C>
Weighted Average Gross Coupon                                      4.142374%
Weighted Average Net Coupon                                        3.779175%
Weighted Average Pass-Through Rate                                 3.770175%
Weighted Average Maturity (Stepdown Calculation)                         328

Beginning Scheduled Collateral Loan Count                              1,599
Number of Loans Paid in Full                                              24
Ending Scheduled Collateral Loan Count                                 1,575

Beginning Scheduled Collateral Balance                        629,986,795.46
Ending Scheduled Collateral Balance                           614,640,441.54
Ending Actual Collateral Balance at 30-Sep-2002               614,641,413.94

Monthly P&I Constant                                            2,175,979.54
Special Servicing Fee                                                   0.00
Prepayment Penalties                                                    0.00
Realization Loss Amount                                                 0.00
Cumulative Realized Loss                                                0.00

Class A Optimal Amount                                         17,251,748.98

Ending Scheduled Balance for Premium Loans                    614,640,441.54

Scheduled Principal                                                 1,278.70
Unscheduled Principal                                          15,345,075.22
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
One Month Libor Loan Balance                                     191,913,297.83
Six Month Libor Loan Balance                                     421,621,900.94
Pro Rata Senior Percent                                              96.292887%
Senior Percentage                                                   100.000000%
Senior Prepay Percentage                                            100.000000%
Subordinate Percentage                                                0.000000%
Subordinate Prepayment Percentage                                     0.000000%
</TABLE><PAGE>

                                 EXHIBIT 10.1

CONTACTS

<TABLE>
----------------------------------------------------------------------------
<S>                          <C>
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
----------------------------------------------------------------------------
</TABLE>

ISSUANCE INFORMATION

<TABLE>
---------------------------------------------------------------------------------------------------------
<S>                      <C>                                 <C>                      <C>
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, 2002
                         Bear, Stearns & Co. Inc.            Record Date:             November 18, 2002
                                                                                      October 31, 2002
---------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                            SEQUOIA MORTGAGE TRUST 6
                          COLLATERALIZED MORTGAGE BONDS
             BOND PAYMENT REPORT FOR NOVEMBER 19, 2002 DISTRIBUTION

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                                    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)
----------------------------------------------------------------------------------------------------------------------------
<S>     <C>    <C>             <C>             <C>           <C>           <C>           <C>       <C>        <C>
 LT-A          496,378,000.00  471,077,940.76  1,288,694.27  2,939,786.32  4,228,480.59         -         -   468,138,154.44
LT-A2                  100.00               -             -             -             -         -         -                -
 LT-X                  100.00               -             -             -             -         -         -                -
LT-B-1           5,915,000.00    5,915,000.00     16,181.24             -     16,181.24         -         -     5,915,000.00
LT-B-2           5,143,000.00    5,143,000.00     14,069.34             -     14,069.34         -         -     5,143,000.00
----------------------------------------------------------------------------------------------------------------------------
LT-B-3           2,315,000.00    2,315,000.00      6,332.98             -      6,332.98         -         -     2,315,000.00
LT-B-4           1,534,000.00    1,534,000.00      4,196.45             -      4,196.45         -         -     1,534,000.00
LT-B-5           1,028,000.00    1,028,000.00      2,812.23             -      2,812.23         -         -     1,028,000.00
LT-B-6           2,068,996.83    2,068,996.83      5,660.01             -      5,660.01         -         -     2,068,996.83
 LT-R                       -               -             -             -             -         -         -                -
----------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------
Total          514,382,196.83  489,081,937.59  1,337,946.52  2,939,786.32  4,277,732.84         -         -   486,142,151.27
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

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

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                                           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)
----------------------------------------------------------------------------------------------------------------------------
<S>     <C>       <C>     <C>       <C>    <C>               <C>           <C>       <C>        <C>            <C>
 LT-A                     A-30/360          496,378,000.00     949.030660  2.596195   5.922475      8.518670     943.108185
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  2.735628          -      2.735628   1,000.000000
LT-B-2                    A-30/360            5,143,000.00   1,000.000000  2.735629          -      2.735629   1,000.000000
----------------------------------------------------------------------------------------------------------------------------
LT-B-3                    A-30/360            2,315,000.00   1,000.000000  2.735629          -      2.735629   1,000.000000
LT-B-4                    A-30/360            1,534,000.00   1,000.000000  2.735626          -      2.735626   1,000.000000
LT-B-5                    A-30/360            1,028,000.00   1,000.000000  2.735632          -      2.735632   1,000.000000
LT-B-6                    A-30/360            2,068,996.83   1,000.000000  2.735630          -      2.735630   1,000.000000
 LT-R                     A-30/360                       -              -         -          -             -              -
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

Distribution in Dollars - to Date

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                       Current
           Original                    Unscheduled   Scheduled       Total         Total       Realized  Deferred     Principal
Class     Face Value        Interest    Principal    Principal     Principal    Distribution    Losses   Interest      Balance
----------------------------------------------------------------------------------------------------------------------------------
             (1)              (2)         (3)           (4)       (5)=(3)+(4)    (6)=(2)+(5)      (7)      (8)       (9)=(1)-(5)-
                                                                                                                       (7)+(8)
----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>           <C>            <C>         <C>            <C>            <C>       <C>        <C>
 LT-A   496,378,000.00  9,252,996.91  28,239,845.56          -   28,239,845.56  37,492,842.47         -         -   468,138,154.44
LT-A2           100.00          0.27         100.00          -          100.00         100.27         -         -                -
 LT-X           100.00             -         100.00          -          100.00         100.00         -         -                -
LT-B-1    5,915,000.00    113,366.04              -          -               -     113,366.04         -         -     5,915,000.00
LT-B-2    5,143,000.00     98,570.00              -          -               -      98,570.00         -         -     5,143,000.00
LT-B-3    2,315,000.00     44,368.96              -          -               -      44,368.96         -         -     2,315,000.00
LT-B-4    1,534,000.00     29,400.42              -          -               -      29,400.42         -         -     1,534,000.00
LT-B-5    1,028,000.00     19,702.51              -          -               -      19,702.51         -         -     1,028,000.00
LT-B-6    2,068,996.83     39,654.11              -          -               -      39,654.11         -         -     2,068,996.83
 LT-R                -             -              -          -               -              -         -         -                -

----------------------------------------------------------------------------------------------------------------------------------
Total   514,382,196.83  9,598,059.22  28,240,045.56          -   28,240,045.56  37,838,104.78         -         -   486,142,151.27
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

Interest Detail

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
         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)-         (6)       (7)=(5)-(6)
                                                                                    (2)+(3)+(4)
---------------------------------------------------------------------------------------------------------------------------
<S>     <C>       <C>             <C>           <C>          <C>       <C>          <C>           <C>           <C>
 LT-A   3.28275%  471,077,940.76  1,288,694.27            -         -            -  1,288,694.27  1,288,694.27            -
LT-A2   3.28275%               -             -            -         -            -             -             -            -
 LT-X                          -             -            -         -            -             -             -            -
LT-B-1  3.28275%    5,915,000.00     16,181.24            -         -            -     16,181.24     16,181.24            -
LT-B-2  3.28275%    5,143,000.00     14,069.34            -         -            -     14,069.34     14,069.34            -
---------------------------------------------------------------------------------------------------------------------------
LT-B-3  3.28275%    2,315,000.00      6,332.98            -         -            -      6,332.98      6,332.98            -
LT-B-4  3.28275%    1,534,000.00      4,196.45            -         -            -      4,196.45      4,196.45            -
LT-B-5  3.28275%    1,028,000.00      2,812.23            -         -            -      2,812.23      2,812.23            -
LT-B-6  3.28275%    2,068,996.83      5,660.01            -         -            -      5,660.01      5,660.01            -
 LT-R                          -             -            -         -            -             -             -            -

---------------------------------------------------------------------------------------------------------------------------
Total             489,081,937.59  1,337,946.52            -         -            -  1,337,946.52  1,337,946.52            -
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
                                   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)
---------------------------------------------------------------------------------------------------------------------------
<S>    <C>    <C>             <C>             <C>           <C>           <C>           <C>       <C>       <C>
 A     FLT    496,378,000.00  471,077,940.76    844,014.64  2,939,786.32  3,783,800.96         -         -  468,138,154.44
 X     CSTR           100.00               -    453,081.36             -    453,081.36         -         -               -
A-R     R             100.00               -             -             -             -         -         -               -
B-1    SUB      5,915,000.00    5,915,000.00     12,470.79             -     12,470.79         -         -    5,915,000.00
B-2    SUB      5,143,000.00    5,143,000.00     10,843.16             -     10,843.16         -         -    5,143,000.00
B-3    SUB      2,315,000.00    2,315,000.00      4,880.79             -      4,880.79         -         -    2,315,000.00
B-4    SUB      1,534,000.00    1,534,000.00      4,196.45             -      4,196.45         -         -    1,534,000.00
B-5    SUB      1,028,000.00    1,028,000.00      2,812.23             -      2,812.23         -         -    1,028,000.00
B-6    SUB      2,068,996.00    2,068,996.00      5,660.01             -      5,660.01         -         -    2,068,996.00

---------------------------------------------------------------------------------------------------------------------------
Total         514,382,196.00  489,081,936.76  1,337,959.43  2,939,786.32  4,277,745.75         -         -  486,142,150.44
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

Definitive Bond Record Date: 10/31/02

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

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                                                 Orig. Principal     Prior
        Period    Period                         (with Notional)   Principal                                     Total
Class  Starting   Ending    Method     Cusip         Balance        Balance        Interest      Principal    Distribution
----------------------------------------------------------------------------------------------------------------------------
                                                                      (1)            (2)           (3)         (4)=(2)+(3)
----------------------------------------------------------------------------------------------------------------------------
<S>    <C>       <C>       <C>       <C>         <C>             <C>           <C>               <C>        <C>
 A     10/21/02  11/18/02  A-30/360  81743XAA7   496,378,000.00    949.030660          1.700347   5.922475          7.622822
 X                         A-30/360  SQ0201UPX           100.00             -  4,530,813.600000          -  4,530,813.600000
A-R                        A-30/360  81743XAC3           100.00             -                 -          -                 -
B-1    10/21/02  11/18/02  A-30/360  81743XAB5     5,915,000.00  1,000.000000          2.108333          -          2.108333
B-2    10/21/02  11/18/02  A-30/360  81743XAD1     5,143,000.00  1,000.000000          2.108334          -          2.108334
----------------------------------------------------------------------------------------------------------------------------
B-3    10/21/02  11/18/02  A-30/360  81743XAE9     2,315,000.00  1,000.000000          2.108333          -          2.108333
B-4                        A-30/360  SQ0201UB4     1,534,000.00  1,000.000000          2.735626          -          2.735626
B-5                        A-30/360  SQ0201UB5     1,028,000.00  1,000.000000          2.735632          -          2.735632
B-6                        A-30/360  SQ0201UB6     2,068,996.00  1,000.000000          2.735631          -          2.735631

----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------
          Current
         Principal
Class     Balance
---------------------
            (5)
---------------------
<S>     <C>
 A        943.108185
 X                 -
A-R                -
B-1     1,000.000000
B-2     1,000.000000
---------------------
B-3     1,000.000000
B-4     1,000.000000
B-5     1,000.000000
B-6     1,000.000000

---------------------
</TABLE>

<PAGE>

Distribution in Dollars - to Date

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
                                                                                                                    Current
          Original                    Unscheduled   Scheduled      Total          Total      Realized  Deferred    Principal
Class    Face Value      Interest      Principal    Principal    Principal     Distribution   Losses   Interest     Balance
-------------------------------------------------------------------------------------------------------------------------------
            (1)            (2)           (3)          (4)       (5)=(3)+(4)    (6)=(2)+(5)      (7)       (8)     (9)=(1)-(5)-
                                                                                                                    (7)+(8)
-------------------------------------------------------------------------------------------------------------------------------
<S>    <C>             <C>           <C>            <C>        <C>            <C>            <C>       <C>       <C>
 A     496,378,000.00  5,851,070.37  28,239,845.56          -  28,239,845.56  34,090,915.93         -         -  468,138,154.44
 X             100.00  3,467,413.91         100.00          -         100.00   3,467,513.91         -         -               -
A-R            100.00          0.27         100.00          -         100.00         100.27         -         -               -
B-1      5,915,000.00     84,422.06              -          -              -      84,422.06         -         -    5,915,000.00
B-2      5,143,000.00     73,403.68              -          -              -      73,403.68         -         -    5,143,000.00
B-3      2,315,000.00     33,040.92              -          -              -      33,040.92         -         -    2,315,000.00
B-4      1,534,000.00     29,400.42              -          -              -      29,400.42         -         -    1,534,000.00
B-5      1,028,000.00     19,702.51              -          -              -      19,702.51         -         -    1,028,000.00
B-6      2,068,996.00     39,654.08              -          -              -      39,654.08         -         -    2,068,996.00

-------------------------------------------------------------------------------------------------------------------------------
Total  514,382,196.00  9,598,108.22  28,240,045.56          -  28,240,045.56  37,838,153.78         -         -  486,142,150.44
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Interest Detail

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
        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)-        (6)       (7)=(5)-(6)
                                                                                      (2)+(3)+(4)
----------------------------------------------------------------------------------------------------------------------------
<S>    <C>        <C>              <C>           <C>          <C>       <C>          <C>           <C>           <C>
 A     2.15000%    471,077,940.76    844,014.64            -         -            -    844,014.64    844,014.64            -
 X     1.12226%                 -    453,081.36            -         -            -    453,081.36    453,081.36            -
A-R    3.28275%                 -             -            -         -            -             -             -            -
B-1    2.53000%      5,915,000.00     12,470.79            -         -            -     12,470.79     12,470.79            -
B-2    2.53000%      5,143,000.00     10,843.16            -         -            -     10,843.16     10,843.16            -
----------------------------------------------------------------------------------------------------------------------------
B-3    2.53000%      2,315,000.00      4,880.79            -         -            -      4,880.79      4,880.79            -
B-4    3.28275%      1,534,000.00      4,196.45            -         -            -      4,196.45      4,196.45            -
B-5    3.28275%      1,028,000.00      2,812.23            -         -            -      2,812.23      2,812.23            -
B-6    3.28275%      2,068,996.00      5,660.01            -         -            -      5,660.01      5,660.01            -

----------------------------------------------------------------------------------------------------------------------------
Total              489,081,936.76  1,337,959.43            -         -            -  1,337,959.43  1,337,959.43            -
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                            COLLECTION ACCOUNT REPORT
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                                                   TOTAL
--------------------------------------------------------------------------------
<S>                                                                <C>
Principal Collections                                              2,939,786.32
Principal Withdrawals                                                      0.00
Principal Other Accounts                                                   0.00
TOTAL PRINCIPAL                                                    2,939,786.32

Interest Collected                                                 1,356,323.36
Interest Withdrawals                                                       0.00
Interest Other Accounts                                                   12.91
Fees                                                                 (18,376.84)
TOTAL INTEREST                                                     1,337,959.43

TOTAL AVAILABLE TO CERTIFICATEHOLDERS                              4,277,745.75

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - COLLECTIONS                                                   TOTAL
--------------------------------------------------------------------------------
<S>                                                                <C>
Scheduled Principal                                                        0.00
Curtailments                                                         615,109.89
Prepayments In Full                                                2,324,676.43
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                                          2,939,786.32

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - WITHDRAWALS                                                   TOTAL
--------------------------------------------------------------------------------
<S>                                                                       <C>
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - OTHER ACCOUNTS                                                TOTAL
--------------------------------------------------------------------------------
<S>                                                                       <C>
Amounts remaining in Pre-Funding Account                                   0.00

--------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
INTEREST - COLLECTIONS                                                    TOTAL
--------------------------------------------------------------------------------
<S>                                                               <C>
Scheduled Interest                                                 1,493,070.75
Repurchased Interest                                                       0.00
Substitution Interest Amount                                               0.00
Liquidation Interest                                                       0.00
Insurance Interest                                                         0.00
Other Interest                                                             0.00

Delinquent Interest                                               (1,329,366.90)
Interest Advanced                                                  1,192,619.51
Prepayment Interest Shortfalls                                        (1,685.47)
Compensating Interest                                                  1,685.47
Civil Relief Act Shortfalls                                                0.00

TOTAL INTEREST COLLECTED                                           1,356,323.36

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - WITHDRAWALS                                                    TOTAL
--------------------------------------------------------------------------------
<S>                                                                       <C>
Current Nonrecoverable Advances                                            0.00

TOTAL INTEREST WITHDRAWALS                                                 0.00

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - OTHER ACCOUNTS                                                 TOTAL
--------------------------------------------------------------------------------
<S>                                                                       <C>
Basis Risk Shortfall                                                       0.00
Basis Risk Reserve Fund Interest Earnings                                 12.91

TOTAL INTEREST OTHER ACCOUNTS                                             12.91

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - FEES                                                           TOTAL
-------------------------------------------------------------------------------
<S>                                                                   <C>
Current Servicing Fees                                                16,746.57
Trustee Fee                                                            1,630.27

TOTAL FEES                                                            18,376.84

-------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                            CREDIT ENHANCEMENT REPORT
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
ACCOUNTS                                                                  TOTAL
-------------------------------------------------------------------------------
<S>                                                                   <C>
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                 12.91
Ending Balance                                                        10,000.00

-------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INSURANCE                                                                 TOTAL
--------------------------------------------------------------------------------
<S>                                                                       <C>
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
STRUCTURAL FEATURES                                                       TOTAL
-------------------------------------------------------------------------------
<S>                                                                  <C>
Pro Rata Senior Percentage                                            96.318818%
Senior Percentage                                                    100.000000%
Subordinate Percentage                                                 0.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%

-------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                                COLLATERAL REPORT
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
COLLATERAL                                                                TOTAL
--------------------------------------------------------------------------------
<S>                                                              <C>
  Loan Count:
ORIGINAL                                                                   1254
Prior                                                                     1,202
Prefunding                                                                    -
Scheduled Paid Offs                                                           -
Full Voluntary Prepayments                                                   (8)
Repurchases                                                                   -
Liquidations                                                                  -
--------------------------------------------------------------------------------
Current                                                                   1,194

PRINCIPAL BALANCE:
Original                                                         514,382,196.83
Prior                                                            489,081,937.59
Prefunding                                                                    -
Scheduled Principal                                                           -
Partial and Full Voluntary Prepayments                            (2,939,786.32)
Repurchases                                                                   -
Liquidations                                                                  -
--------------------------------------------------------------------------------
Current                                                          486,142,151.27
--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PREFUNDING                                                                TOTAL
--------------------------------------------------------------------------------
<S>                                                                       <C>
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
CHARACTERISTICS                                                           TOTAL
-------------------------------------------------------------------------------
<S>                                                                    <C>
Weighted Average Coupon Original                                       3.667751%
Weighted Average Coupon Prior                                          3.668024%
Weighted Average Coupon Current                                        3.663363%
-------------------------------------------------------------------------------
Weighted Average Months to Maturity Original                                297
Weighted Average Months to Maturity Prior                                   292
Weighted Average Months to Maturity Current                                 291
-------------------------------------------------------------------------------
Weighted Avg Remaining Amortization Term Original                           296
Weighted Avg Remaining Amortization Term Prior                              291
Weighted Avg Remaining Amortization Term Current                            290
-------------------------------------------------------------------------------
Weighted Average Seasoning Original                                        3.66
Weighted Average Seasoning Prior                                           8.64
Weighted Average Seasoning Current                                         9.64

-------------------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<PAGE>

<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                                       TOTAL
-------------------------------------------------------------------------------
<S>                                                                      <C>
Weighted Average Margin Original                                          1.652%
Weighted Average Margin Prior                                             1.649%
Weighted Average Margin Current                                           1.648%
-------------------------------------------------------------------------------
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                                           1.649%
Weighted Average Min Rate Current                                         1.648%
-------------------------------------------------------------------------------
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%

-------------------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES                                                 TOTAL
-------------------------------------------------------------------------------
<S>                                                                <C>
Current Servicing Fees                                                16,746.57
Delinquent Servicing Fees                                            136,747.39
TOTAL SERVICING FEES                                                 153,493.96

Total Servicing Fees                                                 153,493.96
Compensating Interest                                                 (1,685.47)
Delinquent Servicing Fees                                           (136,747.39)
COLLECTED SERVICING FEES                                              15,061.10

Prepayment Interest Shortfall                                          1,685.47

Total Advanced Interest                                            1,192,619.51

Current Nonrecoverable Advances                                            0.00

-------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL COLLATERAL INFORMATION                                         TOTAL
-------------------------------------------------------------------------------
<S>                                                               <C>
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                                        15,431,466.00
Current Fraud Losses                                                       0.00
Cumulative Fraud Losses                                                    0.00

-------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                          DELINQUENCY REPORT - TOTAL
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                        CURRENT    1 PAYMENT    2 PAYMTS    3+ PAYMTS       TOTAL
---------------------------------------------------------------------------------
<S>          <C>        <C>        <C>          <C>         <C>             <C>
DELINQUENT   Balance                      -           -            -            -
             % Balance                 0.00%       0.00%        0.00%        0.00%
             # Loans                      -           -            -            -
             % # Loans                 0.00%       0.00%        0.00%        0.00%
---------------------------------------------------------------------------------
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         -            -           -            -            -
             % Balance    0.00%        0.00%       0.00%        0.00%        0.00%
             # Loans         -            -           -            -            -
             % # Loans    0.00%        0.00%       0.00%        0.00%        0.00%
---------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

--------------------------------------------------------------------------------
    REO REPORT - MORTGAGE LOANS THAT BECOME REO DURING CURRENT DISTRIBUTION
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                      LOAN GROUP
--------------------------------------------------------------------------------------------------
<S>                                          <C>
Total Loan Count = 0                         Loan Group 1 = MSDW Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00

--------------------------------------------------------------------------------------------------
</TABLE>

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

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
Loan Number    Original      Stated                Current     State &
    &          Principal    Principal    Paid to     Note       LTV at      Original    Origination
Loan Group      Balance      Balance      Date       Rate     Origination     Term         Date
-----------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>       <C>        <C>           <C>         <C>
                                  SPACE INTENTIONALLY LEFT BLANK

-----------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
       FORECLOSURE REPORT - MORTGAGE LOANS THAT BECOME FORECLOSURE DURING
                              CURRENT DISTRIBUTION
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                      LOAN GROUP
--------------------------------------------------------------------------------
<S>                                          <C>
Total Loan Count = 0                         Loan Group 1 = MSDW Group
Total Original Principal Balance = 000.00
Total Current Balance = 000.00

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
Loan Number    Original      Stated                Current     State &
    &          Principal    Principal    Paid to     Note       LTV at      Original    Origination
Loan Group      Balance      Balance      Date       Rate     Origination     Term         Date
-----------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>       <C>        <C>           <C>         <C>
                                  SPACE INTENTIONALLY LEFT BLANK

-----------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                   PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS                                                            TOTAL
--------------------------------------------------------------------------------------
<S>                                                                      <C>
CURRENT
Number of Paid in Full Loans                                                         8
Number of Repurchased Loans                                                          -
--------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full                                                8

Paid in Full Balance                                                      2,324,676.43
Repurchased Loans Balance                                                            -
Curtailments Amount                                                         615,109.89
--------------------------------------------------------------------------------------
Total Prepayment Amount                                                   2,939,786.32

CUMULATIVE
Number of Paid in Full Loans                                                        60
Number of Repurchased Loans                                                          -
--------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full                                               60

Paid in Full Balance                                                     22,920,344.96
Repurchased Loans Balance                                                            -
Curtailments Amount                                                       5,319,700.60
--------------------------------------------------------------------------------------
Total Prepayment Amount                                                  28,240,045.56

                                SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                      TOTAL
-------------------------------------------------------------------------------------
<S>                                                                            <C>
SMM                                                                              0.60%
3 Months Avg SMM                                                                 0.70%
12 Months Avg SMM
Avg SMM Since Cut-off                                                            0.80%

CPR                                                                              6.98%
3 Months Avg CPR                                                                 8.09%
12 Months Avg CPR
Avg CPR Since Cut-off                                                            9.23%

PSA                                                                            361.99%
3 Months Avg PSA Approximation                                                 467.83%
12 Months Avg PSA Approximation
Avg PSA Since Cut-off Approximation                                            693.69%
-------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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)(raised to the power of)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)](raised to the power of)(1/months in
   period n,m)

   Average CPR over period between the nth month and mth month (AvgCPRn,m):
   1-((1-AvgSMMn,m)(raised to the power of)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.
--------------------------------------------------------------------------------

<PAGE>

--------------------------------------------------------------------------------
  PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                               LOAN GROUP
----------------------------------------------------------------------------------------
<S>                                                   <C>
Total Loan Count = 8                                  Loan Group 1 = MSDW Group
Total Original Principal Balance = 2,325,150.00
Total Prepayment Amount = 2,324,676.43

----------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------
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
-------------------------------------------------------------------------------------------------------------------------
<S>          <C>       <C>           <C>           <C>           <C>        <C>            <C>                <C>
390440685 1            300,000.00    299,546.49     Oct-28-02     4.000%    FL - 45.11%     Paid Off - 300      Dec-14-01
390442074 1            312,000.00    312,000.00     Oct-22-02     3.375%    CA - 74.29%     Paid Off - 300      Nov-13-01
390442310 1            269,600.00    269,600.00     Oct-23-02     3.875%    GA - 79.76%     Paid Off - 300      Oct-22-01
390443772 1            272,000.00    272,000.00     Oct-17-02     4.250%    FL - 80.00%     Paid Off - 300      Dec-12-01
390444402 1             80,000.00     80,000.00     Oct-31-02     3.625%    CA - 21.22%     Paid Off - 300      Jan-14-02
390444420 1            850,000.00    850,000.00     Oct-28-02     3.625%    FL - 65.38%     Paid Off - 300      Jan-16-02
390446690 1            103,950.00    103,950.00     Oct-21-02     3.500%    CA - 74.25%     Paid Off - 300      Feb-05-02
390447892 1            137,600.00    137,579.94     Oct-28-02     3.625%    SD - 80.00%     Paid Off - 300      Jan-30-02

-------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                       REALIZED LOSS REPORT - COLLATERAL
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
COLLATERAL REALIZED LOSSES                                                                        TOTAL
-------------------------------------------------------------------------------------------------------
<S>                                                                                               <C>
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 losses may include adjustments to loans liquidated in prior periods.

                                     SPACE INTENTIONALLY LEFT BLANK

-------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
DEFAULT SPEEDS                                                                                    TOTAL
-------------------------------------------------------------------------------------------------------
<S>                                                                                               <C>
MDR                                                                                               0.00%
3 Months Avg MDR                                                                                  0.00%
12 Months Avg MDR
Avg MDR Since Cut-off                                                                             0.00%

CDR                                                                                               0.00%
3 Months Avg CDR                                                                                  0.00%
12 Months Avg CDR
Avg CDR Since Cut-off                                                                             0.00%

SDA                                                                                               0.00%
3 Months Avg SDA Approximation                                                                    0.00%
12 Months Avg SDA Approximation
Avg SDA Since Cut-off 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

-------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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)(raised to the power of)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)](raised to the power of)(1/months in
  period n,m)

  Average CDR over period between the nth month and mth month (AvgCDRn,m):
  1-((1-AvgMDRn,m)(raised to the power of)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.
--------------------------------------------------------------------------------

<PAGE>

--------------------------------------------------------------------------------
   REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                               LOAN GROUP
---------------------------------------------------------------------------------------
<S>                                                   <C>
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
----------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------
<S>           <C>       <C>         <C>         <C>          <C>       <C>          <C>       <C>
                                    SPACE INTENTIONALLY LEFT BLANK

---------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
               TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
TRIGGER EVENTS                                                             TOTAL
--------------------------------------------------------------------------------
<S>                                                                        <C>
                           SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADJUSTABLE RATE CERTIFICATE INFORMATION                                    TOTAL
--------------------------------------------------------------------------------
<S>                                                                        <C>
                           SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL INFORMATION                                                     TOTAL
--------------------------------------------------------------------------------
<S>                                                                        <C>
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

--------------------------------------------------------------------------------
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}]]