Document:

<PAGE>
                                  EXHIBIT 10.1

CONTACTS

   Administrator:        Kumar X. Khambhaita
   Direct Phone No:      (714) 247-6327
   Address:              Deutsche Bank
                         1761 E. St. Andrew Place
                         Santa Ana, CA 92705

   Web Site:             http://www-apps.gis.deutsche-bank.com/invr
   Factor Information:   (800) 735-7777
   Main Phone No:        (714) 247-6000

ISSUANCE INFORMATION

<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:   July 19, 2002
                         Bear, Stearns & Co. Inc.             Record Date:         July 18, 2002
                                                                                   June 28, 2002
</TABLE>

<PAGE>

                            SEQUOIA MORTGAGE TRUST 6
                          COLLATERALIZED MORTGAGE BONDS
               BOND PAYMENT REPORT FOR JULY 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   486,200,487.17   1,327,832.05   4,139,416.99   5,467,249.04       --          --     482,061,070.18
LT-A2                   100.00               --             --             --             --       --          --                 --
LT-X                    100.00               --             --             --             --       --          --                 --
LT-B-1            5,915,000.00     5,915,000.00      16,154.09             --      16,154.09       --          --       5,915,000.00
LT-B-2            5,143,000.00     5,143,000.00      14,045.73             --      14,045.73       --          --       5,143,000.00
------------------------------------------------------------------------------------------------------------------------------------
LT-B-3            2,315,000.00     2,315,000.00       6,322.35             --       6,322.35       --          --       2,315,000.00
LT-B-4            1,534,000.00     1,534,000.00       4,189.41             --       4,189.41       --          --       1,534,000.00
LT-B-5            1,028,000.00     1,028,000.00       2,807.51             --       2,807.51       --          --       1,028,000.00
LT-B-6            2,068,996.83     2,068,996.83       5,650.51             --       5,650.51       --          --       2,068,996.83
LT-R                        --               --             --             --             --       --          --                 --
------------------------------------------------------------------------------------------------------------------------------------
Total           514,382,196.83   504,204,484.00   1,377,001.65   4,139,416.99   5,516,418.64       --          --     500,065,067.01
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Accrual Detail               Current Period Factor Information per $1,000 of Original Face

------------------------------------------------------------------------------------------------------------------------------------
                                              Orig. Principal     Prior                                                   Current
         Period    Period                     (with Notional)    Principal                               Total           Principal
Class   Starting   Ending   Method    Cusip       Balance         Balance    Interest     Principal   Distribution        Balance
                                                                   (1)         (2)           (3)      (4)=(2)+(3)           (5)
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>     <C>        <C>     <C>              <C>           <C>          <C>         <C>              <C>
LT-A                       A-30/360           496,378,000.00     979.496447   2.675042    8.339243    11.014286          971.157203
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   2.731038          --     2.731038        1,000.000000
LT-B-2                     A-30/360             5,143,000.00   1,000.000000   2.731038          --     2.731038        1,000.000000
------------------------------------------------------------------------------------------------------------------------------------
LT-B-3                     A-30/360             2,315,000.00   1,000.000000   2.731037          --     2.731037        1,000.000000
LT-B-4                     A-30/360             1,534,000.00   1,000.000000   2.731037          --     2.731037        1,000.000000
LT-B-5                     A-30/360             1,028,000.00   1,000.000000   2.731041          --     2.731041        1,000.000000
LT-B-6                     A-30/360             2,068,996.83   1,000.000000   2.731039          --     2.731039        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  4,022,588.15   14,316,929.82     --      14,316,929.82    18,339,517.97     --         --    482,061,070.18
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     48,447.23              --     --                 --        48,447.23     --         --      5,915,000.00
LT-B-2    5,143,000.00     42,124.11              --     --                 --        42,124.11     --         --      5,143,000.00
LT-B-3    2,315,000.00     18,961.17              --     --                 --        18,961.17     --         --      2,315,000.00
LT-B-4    1,534,000.00     12,564.33              --     --                 --        12,564.33     --         --      1,534,000.00
LT-B-5    1,028,000.00      8,419.91              --     --                 --         8,419.91     --         --      1,028,000.00
LT-B-6    2,068,996.83     16,946.27              --     --                 --        16,946.27     --         --      2,068,996.83
 LT-R               --            --              --     --                 --               --     --         --                --
------------------------------------------------------------------------------------------------------------------------------------
 Total  514,382,196.83  4,170,051.44   14,317,129.82     --      14,317,129.82    18,487,181.26     --         --    500,065,067.01
------------------------------------------------------------------------------------------------------------------------------------
</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     3.27725%   486,200,487.17    1,327,832.05       --          --          --        1,327,832.05    1,327,832.05      --
LT-A2    3.27725%               --              --       --          --          --                  --              --      --
LT-X                            --              --       --          --          --                  --              --      --
LT-B-1   3.27725%     5,915,000.00       16,154.09       --          --          --           16,154.09       16,154.09      --
LT-B-2   3.27725%     5,143,000.00       14,045.73       --          --          --           14,045.73       14,045.73      --
------------------------------------------------------------------------------------------------------------------------------------
LT-B-3   3.27725%     2,315,000.00        6,322.35       --          --          --            6,322.35        6,322.35      --
LT-B-4   3.27725%     1,534,000.00        4,189.41       --          --          --            4,189.41        4,189.41      --
LT-B-5   3.27725%     1,028,000.00        2,807.51       --          --          --            2,807.51        2,807.51      --
LT-B-6   3.27725%     2,068,996.83        5,650.51       --          --          --            5,650.51        5,650.51      --
 LT-R                           --              --       --          --          --                  --              --      --
------------------------------------------------------------------------------------------------------------------------------------
 Total              504,204,484.00    1,377,001.65       --          --          --        1,377,001.65    1,377,001.65      --
------------------------------------------------------------------------------------------------------------------------------------
</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  486,200,487.17      875,160.88    4,139,416.99    5,014,577.87     --         --     482,061,070.18
  X     CSTR            100.00              --      460,887.17              --      460,887.17     --         --                 --
 A-R       R            100.00              --              --              --              --     --         --                 --
 B-1     SUB      5,915,000.00    5,915,000.00       12,520.08              --       12,520.08     --         --       5,915,000.00
 B-2     SUB      5,143,000.00    5,143,000.00       10,886.02              --       10,886.02     --         --       5,143,000.00
------------------------------------------------------------------------------------------------------------------------------------

 B-3     SUB      2,315,000.00    2,315,000.00        4,900.08              --        4,900.08     --         --       2,315,000.00
 B-4     SUB      1,534,000.00    1,534,000.00        4,189.41              --        4,189.41     --         --       1,534,000.00
 B-5     SUB      1,028,000.00    1,028,000.00        2,807.51              --        2,807.51     --         --       1,028,000.00
 B-6     SUB      2,068,996.00    2,068,996.00        5,650.51              --        5,650.51     --         --       2,068,996.00
------------------------------------------------------------------------------------------------------------------------------------
 Total          514,382,196.00  504,204,483.17    1,377,001.66    4,139,416.99    5,516,418.65     --         --     500,065,066.18
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Definitive Bond Record Date: 6/28/02

<TABLE>
<CAPTION>
Interest Accrual Detail            Current Period Factor Information per $1,000 of Original Face

------------------------------------------------------------------------------------------------------------------------------------
                                             Orig. Principal     Prior                                                   Current
       Period   Period                       (with Notional)   Principal                                   Total         Principal
Class Starting  Ending    Method    Cusip       Balance         Balance        Interest     Principal   Distribution      Balance
                                                                  (1)             (2)          (3)       (4)=(2)+(3)        (5)
------------------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>       <C>       <C>       <C>              <C>          <C>              <C>       <C>               <C>
 A    06/19/02 07/18/02  A-30/360  81743XAA7  496,378,000.00    979.496447         1.763094 8.339243         10.102337    971.157203
 X                       A-30/360  SQ0201UPX          100.00            -- 4,608,871.700000       --  4,608,871.700000            --
A-R                      A-30/360  81743XAC3          100.00            --               --       --                --            --
B-1   06/19/02 07/18/02  A-30/360  81743XAB5    5,915,000.00  1,000.000000         2.116666       --          2.116666  1,000.000000
B-2   06/19/02 07/18/02  A-30/360  81743XAD1    5,143,000.00  1,000.000000         2.116667       --          2.116667  1,000.000000
------------------------------------------------------------------------------------------------------------------------------------
B-3   06/19/02 07/18/02  A-30/360  81743XAE9    2,315,000.00  1,000.000000         2.116665       --          2.116665  1,000.000000
B-4                      A-30/360  SQ0201UB4    1,534,000.00  1,000.000000         2.731037       --          2.731037  1,000.000000
B-5                      A-30/360  SQ0201UB5    1,028,000.00  1,000.000000         2.731041       --          2.731041  1,000.000000
B-6                      A-30/360  SQ0201UB6    2,068,996.00  1,000.000000         2.731040       --          2.731040  1,000.000000
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

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

<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   2,449,905.65   14,316,929.82      --      14,316,929.82   16,766,835.47      --        --     482,061,070.18
  X            100.00   1,603,730.37          100.00      --             100.00    1,603,830.37      --        --                 --
 A-R           100.00           0.27          100.00      --             100.00          100.27      --        --                 --
 B-1     5,915,000.00      34,714.47              --      --                 --       34,714.47      --        --       5,915,000.00
 B-2     5,143,000.00      30,183.70              --      --                 --       30,183.70      --        --       5,143,000.00
 B-3     2,315,000.00      13,586.47              --      --                 --       13,586.47      --        --       2,315,000.00
 B-4     1,534,000.00      12,564.33              --      --                 --       12,564.33      --        --       1,534,000.00
 B-5     1,028,000.00       8,419.91              --      --                 --        8,419.91      --        --       1,028,000.00
 B-6     2,068,996.00      16,946.26              --      --                 --       16,946.26      --        --       2,068,996.00
------------------------------------------------------------------------------------------------------------------------------------
Total  514,382,196.00   4,170,051.43   14,317,129.82      --      14,317,129.82   18,487,181.25      --        --     500,065,066.18
------------------------------------------------------------------------------------------------------------------------------------
</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)-(2)       (6)        (7)=(5)-(6)
                                                                                             +(3)+(4)
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>                 <C>          <C>           <C>        <C>           <C>            <C>            <C>
  A     2.16000%    486,200,487.17     875,160.88       --           --          --          875,160.88     875,160.88        --
  X     1.10707%                --     460,887.17       --           --          --          460,887.17     460,887.17        --
 A-R    3.27725%                --             --       --           --          --                  --             --        --
 B-1    2.54000%      5,915,000.00      12,520.08       --           --          --           12,520.08      12,520.08        --
 B-2    2.54000%      5,143,000.00      10,886.02       --           --          --           10,886.02      10,886.02        --
 B-3    2.54000%      2,315,000.00       4,900.08       --           --          --            4,900.08       4,900.08        --
 B-4    3.27725%      1,534,000.00       4,189.41       --           --          --            4,189.41       4,189.41        --
 B-5    3.27725%      1,028,000.00       2,807.51       --           --          --            2,807.51       2,807.51        --
 B-6    3.27725%      2,068,996.00       5,650.51       --           --          --            5,650.51       5,650.51        --
------------------------------------------------------------------------------------------------------------------------------------
Total               504,204,483.17   1,377,001.66       --           --          --        1,377,001.66   1,377,001.66        --
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                            COLLECTION ACCOUNT REPORT

SUMMARY                                                                  TOTAL
-------------------------------------------------------------------------------

     Principal Collections                                        4,139,416.99
     Principal Withdrawals                                                0.00
     Principal Other Accounts                                             0.00
     TOTAL PRINCIPAL                                              4,139,416.99

     Interest Collected                                           1,398,085.91
     Interest Withdrawals                                                 0.00
     Interest Other Accounts                                              0.00
     Fees                                                           (21,084.25)
     TOTAL INTEREST                                               1,377,001.66

     TOTAL AVAILABLE TO CERTIFICATEHOLDERS                        5,516,418.65

-------------------------------------------------------------------------------

PRINCIPAL - COLLECTIONS                                                   TOTAL
--------------------------------------------------------------------------------

     Scheduled Principal                                                   0.00
     Curtailments                                                    646,089.05
     Prepayments In Full                                           3,493,327.94
     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                                     4,139,416.99

--------------------------------------------------------------------------------

PRINCIPAL - WITHDRAWALS                                                   TOTAL
--------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------

PRINCIPAL - OTHER ACCOUNTS                                                TOTAL
--------------------------------------------------------------------------------

     Amounts remaining in Pre-Funding Account                              0.00

--------------------------------------------------------------------------------

<PAGE>

INTEREST - COLLECTIONS                                                    TOTAL
-------------------------------------------------------------------------------

     Scheduled Interest                                            1,537,229.38
     Repurchased Interest                                                  0.00
     Substitution Interest Amount                                          0.00
     Liquidation Interest                                                  0.00
     Insurance Interest                                                    0.00
     Other Interest                                                        0.00

     Delinquent Interest                                          (1,349,452.15)
     Interest Advanced                                             1,210,308.68
     Prepayment Interest Shortfalls                                   (3,557.81)
     Compensating Interest                                             3,557.81
     Civil Relief Act Shortfalls                                           0.00

     TOTAL INTEREST COLLECTED                                      1,398,085.91

-------------------------------------------------------------------------------

INTEREST - WITHDRAWALS                                                    TOTAL
-------------------------------------------------------------------------------

     Current Nonrecoverable Advances                                       0.00

     TOTAL INTEREST WITHDRAWALS                                            0.00

-------------------------------------------------------------------------------

INTEREST - OTHER ACCOUNTS                                                 TOTAL
-------------------------------------------------------------------------------

     Basis Risk Shortfall                                                  0.00
     Basis Risk Reserve Fund Interest Earnings                             0.00

     TOTAL INTEREST OTHER ACCOUNTS                                         0.00

-------------------------------------------------------------------------------

INTEREST - FEES                                                           TOTAL
-------------------------------------------------------------------------------

     Current Servicing Fees                                           19,403.57
     Trustee Fee                                                       1,680.68

     TOTAL FEES                                                       21,084.25

-------------------------------------------------------------------------------

<PAGE>

                            CREDIT ENHANCEMENT REPORT

ACCOUNTS                                                                   TOTAL
--------------------------------------------------------------------------------

     BASIS RISK RESERVE FUND

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

--------------------------------------------------------------------------------

INSURANCE                                                                  TOTAL
--------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------

STRUCTURAL FEATURES                                                        TOTAL
--------------------------------------------------------------------------------

     Pro Rata Senior Percentage                                       96.429227%
     Senior Percentage                                               100.000000%
     Subordinate Percentage                                            0.000000%
     Senior Prepayment Percentage                                    100.000000%
     Subordinate Percentage                                            0.000000%

--------------------------------------------------------------------------------

<PAGE>

                                COLLATERAL REPORT

COLLATERAL                                                                TOTAL
-------------------------------------------------------------------------------
        Loan Count:
     ORIGINAL                                                              1254
     Prior                                                                1,239
     Prefunding                                                               -
     Scheduled Paid Offs                                                      -
     Full Voluntary Prepayments                                             (10)
     Repurchases                                                              -
     Liquidations                                                             -
-------------------------------------------------------------------------------
     Current                                                              1,229

     PRINCIPAL BALANCE:
     Original                                                    514,382,196.83
     Prior                                                       504,204,484.00
     Prefunding                                                               -
     Scheduled Principal                                                      -
     Partial and Full Voluntary Prepayments                       (4,139,416.99)
     Repurchases                                                              -
     Liquidations                                                             -
-------------------------------------------------------------------------------
     Current                                                     500,065,067.01
-------------------------------------------------------------------------------

PREFUNDING                                                                TOTAL
-------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

-------------------------------------------------------------------------------

CHARACTERISTICS                                                           TOTAL
-------------------------------------------------------------------------------

     Weighted Average Coupon Original                                 3.667751%
     Weighted Average Coupon Prior                                    3.646437%
     Weighted Average Coupon Current                                  3.658586%

     Weighted Average Months to Maturity Original                           297
     Weighted Average Months to Maturity Prior                              296
     Weighted Average Months to Maturity Current                            295

     Weighted Avg Remaining Amortization Term Original                      296
     Weighted Avg Remaining Amortization Term Prior                         295
     Weighted Avg Remaining Amortization Term Current                       294

     Weighted Average Seasoning Original                                   3.66
     Weighted Average Seasoning Prior                                      4.66
     Weighted Average Seasoning Current                                    5.65

-------------------------------------------------------------------------------
Note:  Original information refers to deal issue.

<PAGE>

ARM CHARACTERISTICS                                                       TOTAL
-------------------------------------------------------------------------------

     Weighted Average Margin Original                                    1.652%
     Weighted Average Margin Prior                                       1.651%
     Weighted Average Margin Current                                     1.651%

     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                                     1.651%
     Weighted Average Min Rate Current                                   1.651%

     Weighted Average Cap Up Original                                    0.000%
     Weighted Average Cap Up Prior                                       0.000%
     Weighted Average Cap Up Current                                     0.000%

     Weighted Average Cap Down Original                                  0.000%
     Weighted Average Cap Down Prior                                     0.000%
     Weighted Average Cap Down Current                                   0.000%

-------------------------------------------------------------------------------
Note:  Original information refers to deal issue.

SERVICING FEES / ADVANCES                                                 TOTAL
-------------------------------------------------------------------------------

     Current Servicing Fees                                           19,403.57
     Delinquent Servicing Fees                                       139,143.48
     TOTAL SERVICING FEES                                            158,547.05

     Total Servicing Fees                                            158,547.05
     Compensating Interest                                            (3,557.81)
     Delinquent Servicing Fees                                      (139,143.48)
     COLLECTED SERVICING FEES                                         15,845.76

     Prepayment Interest Shortfall                                     3,557.81

     Total Advanced Interest                                       1,210,308.68

     Current Nonrecoverable Advances                                       0.00

-------------------------------------------------------------------------------

ADDITIONAL COLLATERAL INFORMATION                                         TOTAL
-------------------------------------------------------------------------------

     Mortgage Loans which adjust based on One-Month LIBOR                  0.00
     Mortgage Loans which adjust based on Six-Month LIBOR                  0.00

     Special Hazard Loss Coverage Amount                           5,800,000.00
     Current Special Hazard Losses                                         0.00
     Cumulative Special Hazard Losses                                      0.00
     Bankruptcy Loss Coverage Amount                                 100,000.00
     Current Bankruptcy Losses                                             0.00
     Cumulative Bankruptcy Losses                                          0.00
     Fraud Loss Coverage Amount                                   15,431,466.00
     Current Fraud Losses                                                  0.00
     Cumulative Fraud Losses                                               0.00

-------------------------------------------------------------------------------

<PAGE>

                           DELINQUENCY REPORT - TOTAL

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                                  CURRENT          1 PAYMENT          2  PAYMTS        3+  PAYMTS            TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
<S>                <C>                            <C>             <C>                 <C>              <C>              <C>
DELINQUENT         Balance                                        401,455.95                  -                 -       401,455.95
                   % Balance                                           0.08%              0.00%             0.00%            0.08%
                   # Loans                                                 1                  -                 -                1
                   % # Loans                                           0.08%              0.00%             0.00%            0.08%
-----------------------------------------------------------------------------------------------------------------------------------
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                              -         401,455.95                  -                 -       401,455.95
                   % Balance                        0.00%              0.08%              0.00%             0.00%            0.08%
                   # Loans                              -                  1                  -                 -                1
                   % # Loans                        0.00%              0.08%              0.00%             0.00%            0.08%
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note:  Current = 0-29 days, 1 Payment = 30-59 days,
       2 Payments = 60-89 days, 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>
                                  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>
                                       SPACE INTENTIONALLY LEFT BLANK

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

<PAGE>

                    PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS

VOLUNTARY PREPAYMENTS                                                      TOTAL
--------------------------------------------------------------------------------

     CURRENT
     Number of Paid in Full Loans                                             10
     Number of Repurchased Loans                                               -
--------------------------------------------------------------------------------
     Total Number of Loans Prepaid in Full                                    10

     Paid in Full Balance                                           3,493,327.94
     Repurchased Loans Balance                                                 -
     Curtailments Amount                                              646,089.05
--------------------------------------------------------------------------------
     Total Prepayment Amount                                        4,139,416.99

     CUMULATIVE
     Number of Paid in Full Loans                                             25
     Number of Repurchased Loans                                               -
--------------------------------------------------------------------------------
     Total Number of Loans Prepaid in Full                                    25

     Paid in Full Balance                                          11,716,144.21
     Repurchased Loans Balance                                                 -
     Curtailments Amount                                            2,600,985.61
--------------------------------------------------------------------------------
     Total Prepayment Amount                                       14,317,129.82

                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------

VOLUNTARY PREPAYMENT RATES                                                 TOTAL
--------------------------------------------------------------------------------

     SMM                                                                   0.82%
     3 Months Avg SMM                                                      0.94%
     12 Months Avg SMM
     Avg SMM Since Cut-off                                                 0.94%

     CPR                                                                   9.42%
     3 Months Avg CPR                                                     10.68%
     12 Months Avg CPR
     Avg CPR Since Cut-off                                                10.68%

     PSA                                                                 833.53%
     3 Months Avg  PSA Approximation                                    1146.44%
     12 Months Avg PSA Approximation
     Avg PSA Since Cut-off Approximation                                1146.44%

--------------------------------------------------------------------------------

<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) (caret) 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)](caret)(1/months in
          period n,m)

     Average CPR over period between the nth month and mth month (AvgCPRn,m):
          1-((1-AvgSMMn,m) (caret) 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 =   10                                                    Loan Group 1    =    MSDW Group
Total Original Principal Balance =   3,587,000.00
Total Prepayment Amount =   3,493,327.94

------------------------------------------------------                     ---------------------------------------------------------
</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>
 390441499 1             724,000.00     648,268.77     Jun-21-02      3.875%      CA  -  51.71%     Paid Off  -  300       Oct-15-01
 390441816 1             294,400.00     294,400.00     Jun-19-02      3.875%      NJ  -  80.00%     Paid Off  -  300       Oct-30-01
 390442707 1             158,000.00     158,000.00     Jun-19-02      3.875%      FL  - 100.00%     Paid Off  -  300       Oct-23-01
 390444021 1              74,000.00      62,693.75     Jun-07-02      3.750%      FL  -  26.43%     Paid Off  -  300       Dec-20-01
 390444575 1             221,600.00     216,365.42     Jun-27-02      3.625%      MI  -  80.00%     Paid Off  -  300       Nov-26-01
 390444963 1             547,000.00     547,000.00     Jun-24-02      3.375%      CA  -  74.93%     Paid Off  -  300       Dec-11-01
 390446305 1             260,000.00     258,600.00     Jun-17-02      3.625%      IL  -  80.00%     Paid Off  -  300       Jan-30-02
 390446519 1             700,000.00     700,000.00     Jun-21-02      3.625%      CA  -  66.67%     Paid Off  -  300       Jan-17-02
 390446825 1             318,000.00     318,000.00     Jun-24-02      3.375%      NJ  -  49.69%     Paid Off  -  300       Jan-29-02
 390447297 1             290,000.00     290,000.00     Jun-17-02      3.500%      VA  -  35.63%     Paid Off  -  300       Jan-25-02

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

<PAGE>

                        REALIZED LOSS REPORT - COLLATERAL

COLLATERAL REALIZED LOSSES                                                 TOTAL
--------------------------------------------------------------------------------

     CURRENT
     Number of Loans Liquidated                                                -
     Collateral Realized Loss/(Gain) Amount                                    -
     Net Liquidation Proceeds                                                  -

     CUMULATIVE
     Number of Loans Liquidated                                                -
     Collateral Realized Loss/(Gain) Amount                                    -
     Net Liquidation Proceeds                                                  -

     Note: Collateral realized losses may include adjustments to loans
           liquidated in prior periods.

                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------

DEFAULT SPEEDS                                                             TOTAL
--------------------------------------------------------------------------------

     MDR                                                                   0.00%
     3 Months Avg MDR                                                      0.00%
     12 Months Avg MDR
     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

--------------------------------------------------------------------------------

<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) (caret) 12)

     SDA Standard Default Assumption:   CDR/IF(WAS less than 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)] (caret) (1/months in
          period n,m)

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

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

     AvgCDRn,m/IF(Avg WASn,m less than 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>    <C>    <C>    <C>    <C>    <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>
                                              SPACE INTENTIONALLY LEFT BLANK

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

<PAGE>

               TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT

TRIGGER EVENTS                                                             TOTAL
--------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------

ADJUSTABLE RATE CERTIFICATE INFORMATION                                    TOTAL
--------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

--------------------------------------------------------------------------------

ADDITIONAL INFORMATION                                                     TOTAL
--------------------------------------------------------------------------------

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

--------------------------------------------------------------------------------<PAGE>
                                  EXHIBIT 10.1

CONTACTS

         Administrator:        Kumar X. Khambhaita
         Direct Phone No:      (714) 247-6327
         Address:              Deutsche Bank
                               1761 E. St. Andrew Place
                               Santa Ana, CA 92705

         Web Site:             http://www-apps.gis.deutsche-bank.com/invr
         Factor Information: (800) 735-7777
         Main Phone No:        (714) 247-6000

ISSUANCE INFORMATION

<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:       August 19, 2002
                               Bear, Stearns & Co. Inc.                         Record Date:             August 18, 2002
                                                                                                         July 31, 2002
</TABLE>

<PAGE>

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

<TABLE>
<CAPTION>
        Distribution in Dollars - Current Period
-----------------------------------------------------------------------------------------------------------------------------------
                                   Prior                                                                                 Current
         Class    Original        Principal                                        Total       Realized   Deferred      Principal
Class    Type    Face Value        Balance           Interest      Principal    Distribution    Losses    Interest       Balance
-----------------------------------------------------------------------------------------------------------------------------------
                                    (1)                (2)            (3)       (4)=(2)+(3)       (5)        (6)        (7)=(1)-(3)-
                                                                                                                        (5)+(6)
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>     <C>              <C>              <C>            <C>            <C>            <C>        <C>        <C>
 LT-A           496,378,000.00   482,061,070.18   1,321,240.40   3,565,078.50   4,886,318.90      --        --       478,495,991.68
LT-A2                   100.00               --             --             --             --      --        --                   --
 LT-X                   100.00               --             --             --             --      --        --                   --
LT-B-1            5,915,000.00     5,915,000.00      16,211.92             --      16,211.92      --        --         5,915,000.00
LT-B-2            5,143,000.00     5,143,000.00      14,096.01             --      14,096.01      --        --         5,143,000.00
-----------------------------------------------------------------------------------------------------------------------------------
LT-B-3            2,315,000.00     2,315,000.00       6,344.99             --       6,344.99      --        --         2,315,000.00
LT-B-4            1,534,000.00     1,534,000.00       4,204.41             --       4,204.41      --        --         1,534,000.00
LT-B-5            1,028,000.00     1,028,000.00       2,817.56             --       2,817.56      --        --         1,028,000.00
LT-B-6            2,068,996.83     2,068,996.83       5,670.74             --       5,670.74      --        --         2,068,996.83
 LT-R                       --               --             --             --            --       --        --                   --
-----------------------------------------------------------------------------------------------------------------------------------
Total           514,382,196.83   500,065,067.01   1,370,586.03   3,565,078.50   4,935,664.53      --        --       496,499,988.51
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Accrual Detail    Current Period Factor Information per $1,000 of Original Face
----------------------------------------------------------------------------------------
                                                                        Orig. Principal
                Period        Period                                    (with Notional)
 Class         Starting       Ending       Method       Cusip              Balance
----------------------------------------------------------------------------------------
<S>            <C>            <C>         <C>           <C>            <C>

 LT-A                                     A-30/360                     496,378,000.00
LT-A2                                     A-30/360                             100.00
 LT-X                                     A-30/360                             100.00
LT-B-1                                    A-30/360                       5,915,000.00
LT-B-2                                    A-30/360                       5,143,000.00
----------------------------------------------------------------------------------------
LT-B-3                                    A-30/360                       2,315,000.00
LT-B-4                                    A-30/360                       1,534,000.00
LT-B-5                                    A-30/360                       1,028,000.00
LT-B-6                                    A-30/360                       2,068,996.83
 LT-R                                     A-30/360                                 --
----------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
            Current Period Factor Information per $1,000 of Original Face
----------------------------------------------------------------------------------------
               Prior                                                           Current
 Class       Principal                                         Total           Principal
              Balance             Interest      Principal    Distribution      Balance
----------------------------------------------------------------------------------------
                (1)                 (2)           (3)        (4)=(2)+(3)         (5)
----------------------------------------------------------------------------------------
<S>         <C>                   <C>           <C>          <C>            <C>
 LT-A         971.157203          2.661763      7.182185      9.843947        963.975018
LT-A2                 --                --            --            --                --
 LT-X                 --                --            --            --                --
LT-B-1      1,000.000000          2.740815            --      2.740815      1,000.000000
LT-B-2      1,000.000000          2.740815            --      2.740815      1,000.000000
----------------------------------------------------------------------------------------
LT-B-3      1,000.000000          2.740816            --      2.740816      1,000.000000
LT-B-4      1,000.000000          2.740815            --      2.740815      1,000.000000
LT-B-5      1,000.000000          2.740817            --      2.740817      1,000.000000
LT-B-6      1,000.000000          2.740816            --      2.740816      1,000.000000
 LT-R                 --                --            --            --                --
----------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

            Distribution in Dollars - to Date
-----------------------------------------------------------------------------------------------

                   Original                              Unscheduled               Scheduled
   Class          Face Value           Interest           Principal                Principal
-----------------------------------------------------------------------------------------------
                     (1)                  (2)                (3)                      (4)

-----------------------------------------------------------------------------------------------
<S>           <C>                   <C>                <C>                         <C>
   LT-A       496,378,000.00        5,343,828.55       17,882,008.32                  --
  LT-A2               100.00                0.27              100.00                  --
   LT-X               100.00                  --              100.00                  --
  LT-B-1        5,915,000.00           64,659.15                  --                  --
  LT-B-2        5,143,000.00           56,220.12                  --                  --
  LT-B-3        2,315,000.00           25,306.16                  --                  --
  LT-B-4        1,534,000.00           16,768.74                  --                  --
  LT-B-5        1,028,000.00           11,237.47                  --                  --
  LT-B-6        2,068,996.83           22,617.01                  --                  --
   LT-R                   --                  --                  --                  --
-----------------------------------------------------------------------------------------------
   Total      514,382,196.83        5,540,637.47       17,882,208.32                  --
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

                        Distribution in Dollars - to Date
--------------------------------------------------------------------------------------------
                                                                 Current
                 Total               Total          Realized     Deferred         Principal
   Class      Principal          Distribution        Losses      Interest          Balance
--------------------------------------------------------------------------------------------
             (5)=(3)+(4)         (6)=(2)+(5)           (7)          (8)        (9)=(1)-(5)-
                                                                                 (7)+(8)
--------------------------------------------------------------------------------------------
<S>         <C>                 <C>                 <C>          <C>         <C>
   LT-A     17,882,008.32       23,225,836.87          --           --       478,495,991.68
  LT-A2            100.00              100.27          --           --                   --
   LT-X            100.00              100.00          --           --                   --
  LT-B-1               --           64,659.15          --           --         5,915,000.00
  LT-B-2               --           56,220.12          --           --         5,143,000.00
  LT-B-3               --           25,306.16          --           --         2,315,000.00
  LT-B-4               --           16,768.74          --           --         1,534,000.00
  LT-B-5               --           11,237.47          --           --         1,028,000.00
  LT-B-6               --           22,617.01          --           --         2,068,996.83
   LT-R                --                  --          --           --                   --
--------------------------------------------------------------------------------------------
   Total    17,882,208.32       23,422,845.79          --           --        496,499,988.51
--------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
        Interest Detail
-----------------------------------------------------------------------------------------------
                 Pass-      Prior Principal                        Non-            Prior
                Through     (with Notional)     Accrued         Supported          Unpaid
 Class           Rate          Balance          Interest       Interest SF        Interest
-----------------------------------------------------------------------------------------------
                                                  (1)             (2)               (3)

-----------------------------------------------------------------------------------------------
<S>             <C>        <C>                <C>              <C>                <C>
 LT-A           3.28898%   482,061,070.18     1,321,240.40               --               --
 LT-A2          3.28898%               --               --               --               --
 LT-X                                  --               --               --               --
LT-B-1          3.28898%     5,915,000.00        16,211.92               --               --
LT-B-2          3.28898%     5,143,000.00        14,096.01               --               --
LT-B-3          3.28898%     2,315,000.00         6,344.99               --               --
LT-B-4          3.28898%     1,534,000.00         4,204.41               --               --
LT-B-5          3.28898%     1,028,000.00         2,817.56               --               --
LT-B-6          3.28898%     2,068,996.83         5,670.74               --               --
-----------------------------------------------------------------------------------------------
 Total                     500,065,067.01     1,370,586.03               --               --
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
        Interest Detail
--------------------------------------------------------------------------------
               Unscheduled                        Paid or           Current
                 Interest        Optimal          Deferred           Unpaid
 Class         Adjustments       Interest         Interest          Interest
--------------------------------------------------------------------------------
                  (4)            (5)=(1)-           (6)           (7)=(5)-(6)
                                 (2)+(3)+(4)
--------------------------------------------------------------------------------
<S>            <C>            <C>              <C>                <C>
 LT-A             --          1,321,240.40     1,321,240.40               --
 LT-A2            --                    --               --               --
 LT-X             --                    --               --               --
LT-B-1            --             16,211.92        16,211.92               --
LT-B-2            --             14,096.01        14,096.01               --
LT-B-3            --              6,344.99         6,344.99               --
LT-B-4            --              4,204.41         4,204.41               --
LT-B-5            --              2,817.56         2,817.56               --
LT-B-6            --              5,670.74         5,670.74               --
--------------------------------------------------------------------------------
 Total            --          1,370,586.03     1,370,586.03               --
--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
          Distribution in Dollars - Current Period
------------------------------------------------------------------------------------
                                    Prior
         Class     Original        Principal
Class    Type     Face Value        Balance            Interest       Principal
------------------------------------------------------------------------------------
                                      (1)                (2)             (3)
------------------------------------------------------------------------------------
<S>     <C>    <C>               <C>                  <C>            <C>
  A      FLT    496,378,000.00   482,061,070.18       867,709.93     3,565,078.50
  X      CSTR           100.00               --       461,887.51               --
 A-R      R             100.00               --               --               --
 B-1     SUB      5,915,000.00     5,915,000.00        12,520.08               --
 B-2     SUB      5,143,000.00     5,143,000.00        10,886.02               --
------------------------------------------------------------------------------------
 B-3     SUB      2,315,000.00     2,315,000.00         4,900.08               --
 B-4     SUB      1,534,000.00     1,534,000.00         4,204.41               --
 B-5     SUB      1,028,000.00     1,028,000.00         2,817.56               --
 B-6     SUB      2,068,996.00     2,068,996.00         5,670.74               --
------------------------------------------------------------------------------------
Total           514,382,196.00   500,065,066.18     1,370,596.33     3,565,078.50
------------------------------------------------------------------------------------
</TABLE>

Definitive Bond Record Date: 7/31/02

<TABLE>
<CAPTION>
          Distribution in Dollars - Current Period
-----------------------------------------------------------------------------------------
                                                                           Current
         Class          Total          Realized        Deferred           Principal
Class    Type        Distribution       Losses         Interest            Balance
-----------------------------------------------------------------------------------------
                     (4)=(2)+(3)         (5)             (6)          (7)=(1)-(3)-(5)+(6)
-----------------------------------------------------------------------------------------
<S>      <C>         <C>               <C>             <C>            <C>
  A      FLT         4,432,788.43               --               --   478,495,991.68
  X      CSTR          461,887.51               --               --               --
 A-R      R                    --               --               --               --
 B-1     SUB            12,520.08               --               --     5,915,000.00
 B-2     SUB            10,886.02               --               --     5,143,000.00
-----------------------------------------------------------------------------------------
 B-3     SUB             4,900.08               --               --     2,315,000.00
 B-4     SUB             4,204.41               --               --     1,534,000.00
 B-5     SUB             2,817.56               --               --     1,028,000.00
 B-6     SUB             5,670.74               --               --     2,068,996.00
-----------------------------------------------------------------------------------------
Total                4,935,674.83               --               --   496,499,987.68
-----------------------------------------------------------------------------------------
</TABLE>
Definitive Bond Record Date: 7/31/02

<TABLE>
<CAPTION>
Interest Accrual Detail           Current Period Factor Information per $1,000 of Original Face
-----------------------------------------------------------------------------------------------
                                                              Orig. Principal       Prior
            Period     Period                                 (with Notional)     Principal
  Class    Starting    Ending      Method        Cusip           Balance           Balance
-----------------------------------------------------------------------------------------------
                                                                                     (1)
-----------------------------------------------------------------------------------------------
<S>        <C>         <C>         <C>            <C>          <C>               <C>
    A       07/19/02   08/18/02    A-30/360       81743XAA7    496,378,000.00      971.157203
    X                              A-30/360       SQ0201UPX            100.00              --
   A-R                             A-30/360       81743XAC3            100.00              --
   B-1      07/19/02   08/18/02    A-30/360       81743XAB5      5,915,000.00    1,000.000000
   B-2      07/19/02   08/18/02    A-30/360       81743XAD1      5,143,000.00    1,000.000000
-----------------------------------------------------------------------------------------------
   B-3      07/19/02   08/18/02    A-30/360       81743XAE9      2,315,000.00    1,000.000000
   B-4                             A-30/360       SQ0201UB4      1,534,000.00    1,000.000000
   B-5                             A-30/360       SQ0201UB5      1,028,000.00    1,000.000000
   B-6                             A-30/360       SQ0201UB6      2,068,996.00    1,000.000000
-----------------------------------------------------------------------------------------------
</TABLE>

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

<TABLE>
<CAPTION>
Interest Accrual Detail       Current Period Factor Information per $1,000 of Original Face
-------------------------------------------------------------------------------------------
                                                                    Current
                                                 Total             Principal
  Class        Interest         Principal     Distribution          Balance
-------------------------------------------------------------------------------------------
                  (2)              (3)         (4)=(2)+(3)           (5)
-------------------------------------------------------------------------------------------
<S>          <C>                <C>          <C>                  <C>
    A                1.748083    7.182185            8.930268       963.975018
    X        4,618,875.100000          --    4,618,875.100000               --
   A-R                     --          --                  --               --
   B-1               2.116666          --            2.116666     1,000.000000
   B-2               2.116667          --            2.116667     1,000.000000
-------------------------------------------------------------------------------------------
   B-3               2.116665          --            2.116665     1,000.000000
   B-4               2.740815          --            2.740815     1,000.000000
   B-5               2.740817          --            2.740817     1,000.000000
   B-6               2.740817          --            2.740817     1,000.000000
-------------------------------------------------------------------------------------------
</TABLE>
Interest will accrue on all Bonds on the basis of a 360-day year consisting of
twelve 30-day months.

<PAGE>

<TABLE>
<CAPTION>
          Distribution in Dollars - to Date
-----------------------------------------------------------------------------------------------
               Original                         Unscheduled      Scheduled        Total
Class         Face Value        Interest         Principal       Principal      Principal
-----------------------------------------------------------------------------------------------
                 (1)               (2)             (3)             (4)          (5)=(3)+(4)

-----------------------------------------------------------------------------------------------
<S>          <C>              <C>             <C>                <C>          <C>
    A        496,378,000.00   3,317,615.58    17,882,008.32         --        17,882,008.32
    X                100.00   2,065,617.88           100.00         --               100.00
   A-R               100.00           0.27           100.00         --               100.00
   B-1         5,915,000.00      47,234.55               --         --                   --
   B-2         5,143,000.00      41,069.72               --         --                   --
   B-3         2,315,000.00      18,486.55               --         --                   --
   B-4         1,534,000.00      16,768.74               --         --                   --
   B-5         1,028,000.00      11,237.47               --         --                   --
   B-6         2,068,996.00      22,617.00               --         --                   --
-----------------------------------------------------------------------------------------------
  Total      514,382,196.00   5,540,647.76    17,882,208.32         --        17,882,208.32
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
          Distribution in Dollars - to Date
------------------------------------------------------------------------------
                 Total           Realized        Deferred     Principal
Class         Distribution        Losses         Interest      Balance
------------------------------------------------------------------------------
               (6)=(2)+(5)          (7)            (8)        (9)=(1)-(5)-
                                                                (7)+(8)
------------------------------------------------------------------------------
<S>           <C>                <C>             <C>      <C>
    A         21,199,623.90           --            --    478,495,991.68
    X          2,065,717.88           --            --                --
   A-R               100.27           --            --                --
   B-1            47,234.55           --            --      5,915,000.00
   B-2            41,069.72           --            --      5,143,000.00
   B-3            18,486.55           --            --      2,315,000.00
   B-4            16,768.74           --            --      1,534,000.00
   B-5            11,237.47           --            --      1,028,000.00
   B-6            22,617.00           --            --      2,068,996.00

------------------------------------------------------------------------------
  Total       23,422,856.08           --            --    496,499,987.68
------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
          Interest Detail
-----------------------------------------------------------------------------------------------
             Pass-      Prior Principal                          Non-             Prior
            Through     (with Notional)        Accrued         Supported         Unpaid
Class        Rate           Balance            Interest       Interest SF       Interest
-----------------------------------------------------------------------------------------------
                                                 (1)              (2)              (3)

-----------------------------------------------------------------------------------------------
<S>         <C>          <C>                 <C>              <C>               <C>
  A         2.16000%     482,061,070.18      867,709.93            --               --
  X         1.11872%                 --      461,887.51            --               --
 A-R        3.28898%                 --              --            --               --
 B-1        2.54000%       5,915,000.00       12,520.08            --               --
 B-2        2.54000%       5,143,000.00       10,886.02            --               --
-----------------------------------------------------------------------------------------------
 B-3        2.54000%       2,315,000.00        4,900.08            --               --
 B-4        3.28898%       1,534,000.00        4,204.41            --               --
 B-5        3.28898%       1,028,000.00        2,817.56            --               --
 B-6        3.28898%       2,068,996.00        5,670.74            --               --
-----------------------------------------------------------------------------------------------
Total                    500,065,066.18    1,370,596.33            --               --
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
          Interest Detail
---------------------------------------------------------------------------
          Unscheduled                         Paid or           Current
            Interest        Optimal           Deferred          Unpaid
Class     Adjustments       Interest          Interest         Interest
---------------------------------------------------------------------------
              (4)           (5)=(1)             (6)           (7)=(5)-(6)
                          -(2)+(3)+(4)
---------------------------------------------------------------------------
<S>       <C>             <C>                 <C>             <C>
  A           --          867,709.93          867,709.93           --
  X           --          461,887.51          461,887.51           --
 A-R          --                  --                  --           --
 B-1          --           12,520.08           12,520.08           --
 B-2          --           10,886.02           10,886.02           --
---------------------------------------------------------------------------
 B-3          --            4,900.08            4,900.08           --
 B-4          --            4,204.41            4,204.41           --
 B-5          --            2,817.56            2,817.56           --
 B-6          --            5,670.74            5,670.74           --
---------------------------------------------------------------------------
Total         --        1,370,596.33        1,370,596.33           --
---------------------------------------------------------------------------
</TABLE>

<PAGE>

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

<TABLE>
<CAPTION>
SUMMARY                                                                                                                        TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                                    <C>
     Principal Collections                                                                                             3,565,078.50
     Principal Withdrawals                                                                                                     0.00
     Principal Other Accounts                                                                                                  0.00
     TOTAL PRINCIPAL                                                                                                   3,565,078.50

     Interest Collected                                                                                                1,395,255.42
     Interest Withdrawals                                                                                                      0.00
     Interest Other Accounts                                                                                                  10.29
     Fees                                                                                                                (24,669.38)
     TOTAL INTEREST                                                                                                    1,370,596.33

     TOTAL AVAILABLE TO CERTIFICATEHOLDERS                                                                             4,935,674.83

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

<TABLE>
<CAPTION>
PRINCIPAL - COLLECTIONS                                                                                                        TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                                     <C>
     Scheduled Principal                                                                                                        0.00
     Curtailments                                                                                                         657,035.76
     Prepayments In Full                                                                                                2,908,042.74
     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                                                                                          3,565,078.50

------------------------------------------------------------------------------------------------------------------------------------
</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                                                                                                1,529,506.34
     Repurchased Interest                                                                                                      0.00
     Substitution Interest Amount                                                                                              0.00
     Liquidation Interest                                                                                                      0.00
     Insurance Interest                                                                                                        0.00
     Other Interest                                                                                                            0.00

     Delinquent Interest                                                                                              (1,306,132.03)
     Interest Advanced                                                                                                 1,171,881.11
     Prepayment Interest Shortfalls                                                                                       (2,617.19)
     Compensating Interest                                                                                                 2,617.19
     Civil Relief Act Shortfalls                                                                                               0.00

     TOTAL INTEREST COLLECTED                                                                                          1,395,255.42

------------------------------------------------------------------------------------------------------------------------------------
</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                                                                                 10.29

     TOTAL INTEREST OTHER ACCOUNTS                                                                                             10.29

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

<TABLE>
<CAPTION>
INTEREST - FEES                                                                                                                TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                                        <C>
     Current Servicing Fees                                                                                                23,002.50
     Trustee Fee                                                                                                            1,666.88

     TOTAL FEES                                                                                                            24,669.38

------------------------------------------------------------------------------------------------------------------------------------
</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                                                                 10.29
     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                                                                                           96.399669%
     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                                                                                                                    1,229
     Prefunding                                                                                                                  --
     Scheduled Paid Offs                                                                                                         --
     Full Voluntary Prepayments                                                                                                  (8)
     Repurchases                                                                                                                 --
     Liquidations                                                                                                                --
     -------------------------------------------------------------------------------------------------------------------------------
     Current                                                                                                                  1,221

     PRINCIPAL BALANCE:
     Original                                                                                                        514,382,196.83
     Prior                                                                                                           500,065,067.01
     Prefunding                                                                                                                  --
     Scheduled Principal                                                                                                         --
     Partial and Full Voluntary Prepayments                                                                           (3,565,078.50)
     Repurchases                                                                                                                 --
     Liquidations                                                                                                                --
     -------------------------------------------------------------------------------------------------------------------------------
     Current                                                                                                         496,499,988.51
------------------------------------------------------------------------------------------------------------------------------------
</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                                                                                         3.658586%
     Weighted Average Coupon Current                                                                                       3.670338%
     -------------------------------------------------------------------------------------------------------------------------------
     Weighted Average Months to Maturity Original                                                                               297
     Weighted Average Months to Maturity Prior                                                                                  295
     Weighted Average Months to Maturity Current                                                                                294
     -------------------------------------------------------------------------------------------------------------------------------
     Weighted Avg Remaining Amortization Term Original                                                                          296
     Weighted Avg Remaining Amortization Term Prior                                                                             294
     Weighted Avg Remaining Amortization Term Current                                                                           293
     -------------------------------------------------------------------------------------------------------------------------------
     Weighted Average Seasoning Original                                                                                       3.66
     Weighted Average Seasoning Prior                                                                                          5.65
     Weighted Average Seasoning Current                                                                                        6.65

------------------------------------------------------------------------------------------------------------------------------------
</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                                                                                            1.651%
     Weighted Average Margin Current                                                                                          1.651%
     -------------------------------------------------------------------------------------------------------------------------------
     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                                                                                          1.651%
     Weighted Average Min Rate Current                                                                                        1.651%
     -------------------------------------------------------------------------------------------------------------------------------
     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                                                                                               23,002.50
     Delinquent Servicing Fees                                                                                           134,250.92
     TOTAL SERVICING FEES                                                                                                157,253.42

     Total Servicing Fees                                                                                                157,253.42
     Compensating Interest                                                                                                (2,617.19)
     Delinquent Servicing Fees                                                                                          (134,250.92)
     COLLECTED SERVICING FEES                                                                                             20,385.31

     Prepayment Interest Shortfall                                                                                         2,617.19

     Total Advanced Interest                                                                                           1,171,881.11

     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                      284,000.00                  --               --             284,000.00
                  % Balance                          0.06%              0.00%             0.00%                  0.06%
                  # Loans                               1                  --               --                      1
                  % # Loans                          0.08%              0.00%             0.00%                  0.08%
----------------------------------------------------------------------------------------------------------------------
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          --          284,000.00                  --               --             284,000.00
                  % Balance      0.00%               0.06%              0.00%             0.00%                  0.06%
                  # Loans          --                   1                  --               --                      1
                  % # Loans      0.00%               0.08%              0.00%             0.00%                  0.08%
----------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-29 days, 1 Payment = 30-59 days, 2 Payments = 60-89 days, 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                                                                                               2,908,042.74
     Repurchased Loans Balance                                                                                                    --
     Curtailments Amount                                                                                                  657,035.76
     -------------------------------------------------------------------------------------------------------------------------------
     Total Prepayment Amount                                                                                            3,565,078.50

     CUMULATIVE
     Number of Paid in Full Loans                                                                                                 33
     Number of Repurchased Loans                                                                                                  --
     -------------------------------------------------------------------------------------------------------------------------------
     Total Number of Loans Prepaid in Full                                                                                        33

     Paid in Full Balance                                                                                              14,624,186.95
     Repurchased Loans Balance                                                                                                    --
     Curtailments Amount                                                                                                3,258,021.37
     -------------------------------------------------------------------------------------------------------------------------------
     Total Prepayment Amount                                                                                           17,882,208.32

                                                               SPACE INTENTIONALLY LEFT BLANK

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

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                                                                     TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                                         <C>
     SMM                                                                                                                       0.71%
     3 Months Avg SMM                                                                                                          0.81%
     12 Months Avg SMM
     Avg SMM Since Cut-off                                                                                                     0.88%

     CPR                                                                                                                       8.23%
     3 Months Avg CPR                                                                                                          9.31%
     12 Months Avg CPR
     Avg CPR Since Cut-off                                                                                                    10.07%

     PSA                                                                                                                     618.61%
     3 Months Avg  PSA Approximation                                                                                         823.59%
     12 Months Avg PSA Approximation
     Avg PSA Since Cut-off Approximation                                                                                     976.82%

------------------------------------------------------------------------------------------------------------------------------------
</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)(CARET)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)](CARET)(1/months in period n,m)

        Average CPR over period between the nth month and mth month (AvgCPRn,m):
        1-((1-AvgSMMn,m)(CARET)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 =   2,909,100.00
Total Prepayment Amount =   2,908,042.74

-----------------------------------------------------       ------------------------------------------------------------
</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>
390441420 1                   330,000.00       329,942.74   Jul-19-02     3.875%     NJ-64.08%    PaidOff-300         Oct-09-01
390441494 1                   250,000.00       250,000.00   Jul-13-02     3.875%     CA-69.44%    PaidOff-300         Oct-05-01
390442794 1                   241,000.00       241,000.00   Jul-23-02     4.375%     TX-74.15%    PaidOff-300         Oct-24-01
390444088 1                   272,000.00       271,000.00   Jul-24-02     3.625%     CA-80.00%    PaidOff-300         Dec-24-01
390444261 1                   970,000.00       970,000.00   Jul-26-02     3.625%     FL-80.00%    PaidOff-300         Dec-31-01
390445751 1                   444,700.00       444,700.00   Jul-25-02     4.125%     MT-74.12%    PaidOff-300         Jan-15-02
390445936 1                   120,000.00       120,000.00   Jul-15-02     3.375%     MD-80.00%    PaidOff-300         Feb-01-02
390448340 1                   281,400.00       281,400.00   Jul-31-02     3.625%     CA-75.04%    PaidOff-300         Feb-01-02

------------------------------------------------------------------------------------------------------------------------------------
</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)(CARET)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)](CARET)(1/months in period n,m)

        Average CDR over period between the nth month and mth month (AvgCDRn,m):
        1-((1-AvgMDRn,m)(CARET)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-00043-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}]]