Document:

<PAGE>
                                  EXHIBIT 10.1

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

                               SMT SERIES 2002-10
                         RECORD DATE: NOVEMBER 29, 2002
                      DISTRIBUTION DATE: DECEMBER 20, 2002

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate        Certificate        Beginning
                                 Class           Pass-Through      Certificate          Interest        Principal         Current
   Class          CUSIP       Description           Rate              Balance         Distribution     Distribution    Realized Loss
   -----          -----       -----------           ----              -------         ------------     ------------    -------------
<S>             <C>           <C>                <C>            <C>                   <C>              <C>             <C>
    1A          81743VAA1         SEN             1.78813%        817,350,273.32      1,217,940.45     3,971,376.71         0.00
   2A-1         81743VAB9         SEN             1.76813%        188,444,857.98        277,662.50       600,680.10         0.00
   2A-2         81743VAN3         SEN             2.06813%          3,500,000.00          6,032.05             0.00         0.00
   X-1A         81743VAC7          IO             1.47864%                  0.00        481,274.62             0.00         0.00
   X-1B         81743VAD5          IO             1.66699%                  0.00        592,857.96             0.00         0.00
    X-2         81743VAP8          IO             1.68968%                  0.00        270,273.28             0.00         0.00
    X-B         81743VAE3          IO             1.08549%                  0.00         23,272.07             0.00         0.00
    A-R         81743VAF0         SEN             3.40027%                  0.00              0.00             0.00         0.00
    B-1         81743VAG8         SUB             2.18813%         12,600,000.00         22,975.36             0.00         0.00
    B-2         81743VAH6         SUB             2.18813%          8,400,000.00         15,316.91             0.00         0.00
    B-3         81743VAJ2         SUB             2.78813%          4,725,000.00         10,978.26             0.00         0.00
    B-4         SMT0210B4         SUB             3.38382%          2,625,000.00          7,402.11             0.00         0.00
    B-5         SMT0210B5         SUB             3.38382%          2,100,000.00          5,921.68             0.00         0.00
    B-6         SMT0210B6         SUB             3.38382%          3,685,162.00         10,391.60             0.00         0.00
                                                                ----------------      ------------     ------------         ----
Totals                                                          1,043,430,293.30      2,942,298.85     4,572,056.81         0.00
</TABLE>

<TABLE>
<CAPTION>
                     Ending
                   Certificate         Total              Cumulative
   Class              Balance        Distribution        Realized Loss
   -----              -------        ------------        -------------
<S>             <C>               <C>                    <C>
    1A            813,378,896.61    5,189,317.16             0.00
   2A-1           187,844,177.88      878,342.60             0.00
   2A-2             3,500,000.00        6,032.05             0.00
   X-1A                     0.00      481,274.62             0.00
   X-1B                     0.00      592,857.96             0.00
    X-2                     0.00      270,273.28             0.00
    X-B                     0.00       23,272.07             0.00
    A-R                     0.00            0.00             0.00
    B-1            12,600,000.00       22,975.36             0.00
    B-2             8,400,000.00       15,316.91             0.00
    B-3             4,725,000.00       10,978.26             0.00
    B-4             2,625,000.00        7,402.11             0.00
    B-5             2,100,000.00        5,921.68             0.00
    B-6             3,685,162.00       10,391.60             0.00
                ----------------    ------------             ----
Totals          1,038,858,236.49    7,514,355.66             0.00
</TABLE>

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

<TABLE>
<CAPTION>
                                    Beginning          Scheduled       Unscheduled
                Original Face      Certificate         Principal        Principal                      Realized
   Class           Amount            Balance          Distribution     Distribution      Accretion      Loss (1)
   -----           ------            -------          ------------     ------------      ---------      --------
<S>          <C>                <C>                   <C>              <C>               <C>           <C>
    1A         822,375,000.00     817,350,273.32          0.00         3,971,376.71         0.00          0.00
   2A-1        190,000,000.00     188,444,857.98          0.00           600,680.10         0.00          0.00
   2A-2          3,500,000.00       3,500,000.00          0.00                 0.00         0.00          0.00
   X-1A                  0.00               0.00          0.00                 0.00         0.00          0.00
   X-1B                  0.00               0.00          0.00                 0.00         0.00          0.00
    X-2                  0.00               0.00          0.00                 0.00         0.00          0.00
    X-B                  0.00               0.00          0.00                 0.00         0.00          0.00
    A-R                100.00               0.00          0.00                 0.00         0.00          0.00
    B-1         12,600,000.00      12,600,000.00          0.00                 0.00         0.00          0.00
    B-2          8,400,000.00       8,400,000.00          0.00                 0.00         0.00          0.00
    B-3          4,725,000.00       4,725,000.00          0.00                 0.00         0.00          0.00
    B-4          2,625,000.00       2,625,000.00          0.00                 0.00         0.00          0.00
    B-5          2,100,000.00       2,100,000.00          0.00                 0.00         0.00          0.00
    B-6          3,685,162.00       3,685,162.00          0.00                 0.00         0.00          0.00
             ----------------   ----------------          ----         ------------         ----          ----
Totals       1,050,010,262.00   1,043,430,293.30          0.00         4,572,056.81         0.00          0.00
</TABLE>

<TABLE>
<CAPTION>
                Total             Ending                Ending
              Principal         Certificate           Certificate      Total Principal
   Class      Reduction           Balance              Percentage       Distribution
   -----      ---------           -------              ----------       ------------
<S>          <C>             <C>                      <C>              <C>
    1A       3,971,376.71      813,378,896.61          0.98906083       3,971,376.71
   2A-1        600,680.10      187,844,177.88          0.98865357         600,680.10
   2A-2              0.00        3,500,000.00          1.00000000               0.00
   X-1A              0.00                0.00          0.00000000               0.00
   X-1B              0.00                0.00          0.00000000               0.00
    X-2              0.00                0.00          0.00000000               0.00
    X-B              0.00                0.00          0.00000000               0.00
    A-R              0.00                0.00          0.00000000               0.00
    B-1              0.00       12,600,000.00          1.00000000               0.00
    B-2              0.00        8,400,000.00          1.00000000               0.00
    B-3              0.00        4,725,000.00          1.00000000               0.00
    B-4              0.00        2,625,000.00          1.00000000               0.00
    B-5              0.00        2,100,000.00          1.00000000               0.00
    B-6              0.00        3,685,162.00          1.00000000               0.00
             ------------    ----------------          ----------       ------------
Totals       4,572,056.81    1,038,858,236.49          0.98937913       4,572,056.81
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                      Beginning      Scheduled        Unscheduled
                Original Face        Certificate     Principal         Principal                   Realized      Total Principal
   Class           Amount              Balance     Distribution      Distribution   Accretion      Loss (3)         Reduction
   -----           ------              -------     ------------      ------------   ---------      --------         ---------
<S>            <C>                 <C>             <C>               <C>            <C>           <C>            <C>
    1A         822,375,000.00       993.88998124    0.00000000        4.82915545    0.00000000    0.00000000        4.82915545
   2A-1        190,000,000.00       991.81504200    0.00000000        3.16147421    0.00000000    0.00000000        3.16147421
   2A-2          3,500,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
   X-1A                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
   X-1B                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    X-2                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    X-B                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    A-R                100.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-1         12,600,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-2          8,400,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-3          4,725,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-4          2,625,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-5          2,100,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
    B-6          3,685,162.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
</TABLE>

<TABLE>
<CAPTION>
                   Ending               Ending
                Certificate          Certificate       Total Principal
   Class          Balance             Percentage        Distribution
   -----          -------             ----------        ------------
<S>            <C>                   <C>               <C>
    1A          989.06082579          0.98906083         4.82915545
   2A-1         988.65356779          0.98865357         3.16147421
   2A-2        1000.00000000          1.00000000         0.00000000
   X-1A           0.00000000          0.00000000         0.00000000
   X-1B           0.00000000          0.00000000         0.00000000
    X-2           0.00000000          0.00000000         0.00000000
    X-B           0.00000000          0.00000000         0.00000000
    A-R           0.00000000          0.00000000         0.00000000
    B-1        1000.00000000          1.00000000         0.00000000
    B-2        1000.00000000          1.00000000         0.00000000
    B-3        1000.00000000          1.00000000         0.00000000
    B-4        1000.00000000          1.00000000         0.00000000
    B-5        1000.00000000          1.00000000         0.00000000
    B-6        1000.00000000          1.00000000         0.00000000
</TABLE>

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

<TABLE>
<CAPTION>
                                                                                           Payment of
                                      Current           Beginning          Current           Unpaid       Current     Non-Supported
               Original Face        Certificate        Certificate/        Accrued          Interest      Interest      Interest
  Class           Amount               Rate          Notional Balance      Interest         Shortfall     Shortfall     Shortfall
  -----           ------               ----          ----------------      --------         ---------     ---------     ---------
<S>         <C>                     <C>              <C>                 <C>               <C>            <C>         <C>
   1A         822,375,000.00         1.78813%         817,350,273.32     1,217,940.45          0.00          0.00         0.00
  2A-1        190,000,000.00         1.76813%         188,444,857.98       277,662.51          0.00          0.00         0.00
  2A-2          3,500,000.00         2.06813%           3,500,000.00         6,032.05          0.00          0.00         0.00
  X-1A                  0.00         1.47864%         390,578,367.87       481,271.80          0.00          0.00         0.00
  X-1B                  0.00         1.66699%         426,771,905.45       592,854.49          0.00          0.00         0.00
   X-2                  0.00         1.68968%         191,944,857.98       270,271.69          0.00          0.00         0.00
   X-B                  0.00         1.08549%          25,725,000.00        23,270.10          0.00          0.00         0.00
   A-R                100.00         3.40027%                   0.00             0.00          0.00          0.00         0.00
   B-1         12,600,000.00         2.18813%          12,600,000.00        22,975.37          0.00          0.00         0.00
   B-2          8,400,000.00         2.18813%           8,400,000.00        15,316.91          0.00          0.00         0.00
   B-3          4,725,000.00         2.78813%           4,725,000.00        10,978.26          0.00          0.00         0.00
   B-4          2,625,000.00         3.38382%           2,625,000.00         7,402.11          0.00          0.00         0.00
   B-5          2,100,000.00         3.38382%           2,100,000.00         5,921.68          0.00          0.00         0.00
   B-6          3,685,162.00         3.38382%           3,685,162.00        10,391.60          0.00          0.00         0.00
            ----------------                                             ------------          ----          ----         ----
 Totals     1,050,010,262.00                                             2,942,289.02          0.00          0.00         0.00
</TABLE>

<TABLE>
<CAPTION>
                                                Remaining           Ending
                                                 Unpaid          Certificate/
            Realized       Total Interest       Interest          Notational
  Class      Loss (4)       Distribution        Shortfall          Balance
  -----      --------       ------------        ---------          -------
<S>         <C>            <C>                  <C>             <C>
   1A         0.00          1,217,940.45          0.00          813,378,896.61
  2A-1        0.00            277,662.50          0.00          187,844,177.88
  2A-2        0.00              6,032.05          0.00            3,500,000.00
  X-1A        0.00            481,274.62          0.00          388,471,780.66
  X-1B        0.00            592,857.96          0.00          424,907,115.95
   X-2        0.00            270,278.28          0.00          191,344,177.88
   X-B        0.00             23,272.07          0.00           25,725,000.00
   A-R        0.00                  0.00          0.00                    0.00
   B-1        0.00             22,975.36          0.00           12,600,000.00
   B-2        0.00             15,316.91          0.00            8,400,000.00
   B-3        0.00             10,978.26          0.00            4,725,000.00
   B-4        0.00              7,402.11          0.00            2,625,000.00
   B-5        0.00              5,921.68          0.00            2,100,000.00
   B-6        0.00             10,391.60          0.00            3,685,162.00
              ----          ------------          ----
Totals        0.00          2,942,298.85          0.00
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                Payment of
                                 Current       Beginning          Current         Unpaid     Current     Non-Supported
              Original Face    Certificate    Certificate/        Accrued        Interest    Interest      Interest
Class (5)         Amount          Rate      Notional Balance      Interest      Shortfall    Shortfall     Shortfall
---------         ------          ----      ----------------      --------      ---------    ---------     ---------
<S>           <C>              <C>          <C>                  <C>            <C>          <C>         <C>

   1A         822,375,000.00    1.78813%      993.88998124       1.48100374     0.00000000   0.00000000    0.00000000
  2A-1        190,000,000.00    1.76813%      991.81504200       1.46138163     0.00000000   0.00000000    0.00000000
  2A-2          3,500,000.00    2.06813%     1000.00000000       1.72344286     0.00000000   0.00000000    0.00000000
  X-1A                  0.00    1.47864%      993.93975636       1.22473546     0.00000000   0.00000000    0.00000000
  X-1B                  0.00    1.66699%      993.84443180       1.38060900     0.00000000   0.00000000    0.00000000
   X-2                  0.00    1.68968%      991.96309034       1.39675292     0.00000000   0.00000000    0.00000000
   X-B                  0.00    1.08549%     1000.00000000       0.90457143     0.00000000   0.00000000    0.00000000
   A-R                100.00    3.40027%        0.00000000       0.00000000     0.00000000   0.00000000    0.00000000
   B-1         12,600,000.00    2.18813%     1000.00000000       1.82344206     0.00000000   0.00000000    0.00000000
   B-2          8,400,000.00    2.18813%     1000.00000000       1.82344167     0.00000000   0.00000000    0.00000000
   B-3          4,725,000.00    2.78813%     1000.00000000       2.32344127     0.00000000   0.00000000    0.00000000
   B-4          2,625,000.00    3.38382%     1000.00000000       2.81985143     0.00000000   0.00000000    0.00000000
   B-5          2,100,000.00    3.38382%     1000.00000000       2.81984762     0.00000000   0.00000000    0.00000000
   B-6          3,685,162.00    3.38382%     1000.00000000       2.81984890     0.00000000   0.00000000    0.00000000
</TABLE>

<TABLE>
<CAPTION>
                                                   Remaining
                                                    Unpaid
              Realized        Total Interest       Interest       Ending Certificate/
Class (5)      Loss (6)        Distribution        Shortfall      Notational Balance
---------      --------        ------------        ---------      ------------------
<S>           <C>             <C>                 <C>             <C>

   1A         0.00000000        1.48100374        0.00000000         989.06082579
  2A-1        0.00000000        1.46138158        0.00000000         988.65356779
  2A-2        0.00000000        1.72344286        0.00000000        1000.00000000
  X-1A        0.00000000        1.22474263        0.00000000         988.57893520
  X-1B        0.00000000        1.38061708        0.00000000         989.50180606
   X-2        0.00000000        1.39676114        0.00000000         988.85880041
   X-B        0.00000000        0.90464801        0.00000000        1000.00000000
   A-R        0.00000000        0.00000000        0.00000000           0.00000000
   B-1        0.00000000        1.82344127        0.00000000        1000.00000000
   B-2        0.00000000        1.82344167        0.00000000        1000.00000000
   B-3        0.00000000        2.32344127        0.00000000        1000.00000000
   B-4        0.00000000        2.81985143        0.00000000        1000.00000000
   B-5        0.00000000        2.81984762        0.00000000        1000.00000000
   B-6        0.00000000        2.81984890        0.00000000        1000.00000000
</TABLE>

(5)   Per $1 denomination

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

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                              7,696,431.61
         Liquidations, Insurance Proceeds, Reserve Funds                         9.85
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                  35,295.51
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                         ------------
Total Deposits                                                           7,731,736.97

Withdrawals
         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            217,381.31
         Payment of Interest and Principal                               7,514,355.66
                                                                         ------------
Total Withdrawals (Pool Distribution Amount)                             7,731,736.97

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

Non-Supported Prepayment Curtailment Interest Shortfall                      0.00
                                                                             ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                     <C>
Gross Servicing Fee                                                     217,381.31
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       217,381.31
                                                                        ==========
</TABLE>

<PAGE>
<TABLE>
<CAPTION>
                                                      Beginning       Current       Current      Ending
                    Account Type                       Balance      Withdrawals     Deposits     Balance
         ---------------------------------            ---------     -----------     --------     --------
<S>                                                   <C>           <C>             <C>          <C>
         Class X-A Basis Risk Reserve Fund             8,000.00         7.88          7.88       8,000.00
         Class X-B Basis Risk Reserve Fund             2,000.00         1.97          1.97       2,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
           DELINQUENT                              BANKRUPTCY                          FORECLOSURE
-------------------------------------   ---------------------------------   ---------------------------------
             No. of       Principal                  No. of     Principal                No. of     Principal
              Loans        Balance                    Loans      Balance                  Loans      Balance
<S>         <C>         <C>             <C>         <C>         <C>         <C>         <C>        <C>

0-29 Days        0               0.00   0-29 Days       0            0.00   0-29 Days       0            0.00
30 Days         26      11,312,149.82   30 Days         0            0.00   30 Days         0            0.00
60 Days          2       1,255,500.00   60 Days         0            0.00   60 Days         0            0.00
90 Days          0               0.00   90 Days         0            0.00   90 Days         0            0.00
120 Days         0               0.00   120 Days        0            0.00   120 Days        0            0.00
150 Days         0               0.00   150 Days        0            0.00   150 Days        0            0.00
180+ Days        0               0.00   180+ Days       0            0.00   180+ Days       0            0.00
            -------------------------               ---------------------               ---------------------
                28      12,567,649.82                   0            0.00                   0            0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of       Principal                  No. of     Principal                No. of     Principal
              Loans        Balance                    Loans      Balance                  Loans      Balance
<S>         <C>         <C>             <C>         <C>         <C>         <C>         <C>        <C>

0-29 Days   0.000000%     0.000000%     0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.946487%     1.088902%     30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.072807%     0.120854%     60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%     0.000000%     90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%     0.000000%     120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%     0.000000%     150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%     0.000000%     180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            -------------------------               ---------------------               ---------------------
            1.019294%     1.209756%                 0.000000%   0.000000%               0.000000%   0.000000%
</TABLE>

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

0-29 Days       0            0.00   0-29 Days       0                0.00
30 Days         0            0.00   30 Days        26       11,312,149.82
60 Days         0            0.00   60 Days         2        1,255,500.00
90 Days         0            0.00   90 Days         0                0.00
120 Days        0            0.00   120 Days        0                0.00
150 Days        0            0.00   150 Days        0                0.00
180+ Days       0            0.00   180+ Days       0                0.00
            ---------------------               -------------------------
                0            0.00                  28       12,567,649.82
</TABLE>

<TABLE>
<CAPTION>
             No. of     Principal                No. of       Principal
              Loans      Balance                  Loans        Balance
<S>         <C>         <C>         <C>         <C>         <C>

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%     0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.946487%     1.088902%
60 Days     0.000000%   0.000000%   60 Days     0.072807%     0.120854%
90 Days     0.000000%   0.000000%   90 Days     0.000000%     0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%     0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%     0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%     0.000000%
            ---------------------               -------------------------
            0.000000%   0.000000%               1.019294%     1.209756%
</TABLE>

Current Period Class A Insufficient Funds:                    0.00
Principal Balance of Contaminated Properties                  0.00
Periodic Advance                                         35,295.51
<PAGE>
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage

<TABLE>
<CAPTION>
                     Original $        Original %           Current $          Current %       Current Class %      Prepayment %
                     ----------        ----------           ---------          ---------       ---------------      ------------
<S>              <C>                  <C>               <C>                  <C>               <C>                 <C>

  Class A        1,050,010,162.00     99.99999048%      1,038,858,236.49     100.00000000%        96.714166%           0.000000%
 Class 1A          227,635,162.00     21.67932736%        225,479,339.88      21.70453407%        78.295466%       2,382.818329%
Class 2-A-1         37,635,162.00      3.58426611%         37,635,162.00       3.62274280%        18.081791%         550.295258%
Class 2-A-2         34,135,162.00      3.25093604%         34,135,162.00       3.28583447%         0.336908%          10.253357%
 Class X-2          34,135,162.00      3.25093604%         34,135,162.00       3.28583447%         0.000000%           0.000000%
 Class B-1          21,535,162.00      2.05094776%         21,535,162.00       2.07296446%         1.212870%          36.912085%
 Class B-2          13,135,162.00      1.25095558%         13,135,162.00       1.26438445%         0.808580%          24.608057%
 Class B-3           8,410,162.00      0.80095998%          8,410,162.00       0.80955820%         0.454826%          13.842032%
 Class B-4           5,785,162.00      0.55096242%          5,785,162.00       0.55687694%         0.252681%           7.690018%
 Class B-5           3,685,162.00      0.35096438%          3,685,162.00       0.35473194%         0.202145%           6.152014%
 Class B-6                   0.00      0.00000000%                  0.00       0.00000000%         0.354732%          10.795795%
</TABLE>

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

<TABLE>
<CAPTION>
                    Original $     Original %       Current $       Current %
<S>               <C>              <C>            <C>              <C>

    Bankruptcy       163,046.00    0.01552804%       163,046.00    0.01569473%
         Fraud    31,500,308.00    3.00000001%    31,500,308.00    3.03220467%
Special Hazard    11,240,000.00    1.07046573%    11,240,000.00    1.08195706%
</TABLE>

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

                                     GROUP 1

<TABLE>
<CAPTION>
           DELINQUENT                              BANKRUPTCY                          FORECLOSURE
-------------------------------------   ---------------------------------   --------------------------------
             No. of       Principal                  No. of     Principal                No. of    Principal
              Loans        Balance                    Loans      Balance                  Loans     Balance
<S>         <C>         <C>             <C>         <C>         <C>         <C>         <C>        <C>

0-29 Days        0               0.00   0-29 Days       0            0.00   0-29 Days       0           0.00
30 Days         24      10,823,149.82   30 Days         0            0.00   30 Days         0           0.00
60 Days          1       1,000,000.00   60 Days         0            0.00   60 Days         0           0.00
90 Days          0               0.00   90 Days         0            0.00   90 Days         0           0.00
120 Days         0               0.00   120 Days        0            0.00   120 Days        0           0.00
150 Days         0               0.00   150 Days        0            0.00   150 Days        0           0.00
180+ Days        0               0.00   180+Days        0            0.00   180+ Days       0           0.00
            -------------------------               ---------------------               --------------------
                25      11,823,149.82                   0            0.00                   0           0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of       Principal                  No. of     Principal                No. of    Principal
              Loans        Balance                    Loans      Balance                  Loans     Balance
<S>         <C>         <C>             <C>         <C>         <C>         <C>         <C>        <C>

0-29 Days   0.000000%     0.000000%     0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     1.103956%     1.286921%     30 Days     0.000000%   0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.045998%     0.118905%     60 Days     0.000000%   0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%     0.000000%     90 Days     0.000000%   0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%     0.000000%     120 Days    0.000000%   0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%     0.000000%     150 Days    0.000000%   0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%     0.000000%     180+Days    0.000000%   0.000000%   180+ Days   0.000000%  0.000000%
            -------------------------               ---------------------               --------------------
            1.149954%     1.405826%                 0.000000%   0.000000%               0.000000%  0.000000%
</TABLE>

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

0-29 Days       0            0.00   0-29 Days       0                0.00
30 Days         0            0.00   30 Days         24      10,823,149.82
60 Days         0            0.00   60 Days         1        1,000,000.00
90 Days         0            0.00   90 Days         0                0.00
120 Days        0            0.00   120 Days        0                0.00
150 Days        0            0.00   150 Days        0                0.00
180+ Days       0            0.00   180+Days        0                0.00
            ---------------------               -------------------------
                0            0.00                   25      11,823,149.82
</TABLE>

<TABLE>
<CAPTION>
             No. of     Principal                No. of       Principal
              Loans      Balance                  Loans        Balance
<S>         <C>         <C>         <C>         <C>         <C>

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%     0.000000%
30 Days     0.000000%   0.000000%   30 Days     1.103956%     1.286921%
60 Days     0.000000%   0.000000%   60 Days     0.045998%     0.118905%
90 Days     0.000000%   0.000000%   90 Days     0.000000%     0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%     0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%     0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%     0.000000%
            ---------------------               -------------------------
            0.000000%   0.000000%               1.149954%     1.405826%
</TABLE>

                                     GROUP 2

<TABLE>
<CAPTION>
           DELINQUENT                           BANKRUPTCY                          FORECLOSURE
----------------------------------   ---------------------------------   ---------------------------------
             No. of      Principal                 No. of    Principal                No. of     Principal
              Loans       Balance                  Loans      Balance                  Loans      Balance
<S>         <C>         <C>          <C>         <C>         <C>         <C>         <C>         <C>

0-29 Days       0             0.00   0-29 Days       0            0.00   0-29 Days       0            0.00
30 Days         2       489,000.00   30 Days         0            0.00   30 Days         0            0.00
60 Days         1       255,500.00   60 Days         0            0.00   60 Days         0            0.00
90 Days         0             0.00   90 Days         0            0.00   90 Days         0            0.00
120 Days        0             0.00   120 Days        0            0.00   120 Days        0            0.00
150 Days        0             0.00   150 Days        0            0.00   150 Days        0            0.00
180+ Days       0             0.00   180+ Days       0            0.00   180+ Days       0            0.00
            ----------------------               ---------------------               ---------------------
                3       744,500.00                   0            0.00                   0            0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of      Principal                 No. of    Principal                No. of     Principal
              Loans       Balance                  Loans      Balance                  Loans      Balance
<S>         <C>         <C>          <C>         <C>         <C>         <C>         <C>         <C>

0-29 Days   0.000000%    0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.349040%    0.247160%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.174520%    0.129140%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%    0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%    0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%    0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%    0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            ----------------------               ---------------------               ---------------------
            0.523560%    0.376300%               0.000000%   0.000000%               0.000000%   0.000000%
</TABLE>

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

0-29 Day        0            0.00   0-29 Days       0             0.00
30 Days         0            0.00   30 Days         2       489,000.00
60 Days         0            0.00   60 Days         1       255,500.00
90 Days         0            0.00   90 Days         0             0.00
120 Days        0            0.00   120 Days        0             0.00
150 Days        0            0.00   150 Days        0             0.00
180+ Day        0            0.00   180+ Days       0             0.00
            ---------------------               ----------------------
                0            0.00                   3       744,500.00
</TABLE>

<TABLE>
<CAPTION
             No. of     Principal                No. of      Principal
              Loans      Balance                  Loans       Balance
<S>         <C>         <C>         <C>         <C>         <C>

0-29 Day    0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.349040%   0.247160%
60 Days     0.000000%   0.000000%   60 Days     0.174520%   0.129140%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Day    0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            ---------------------               ----------------------
            0.000000%   0.000000%               0.523560%   0.376300%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                Mixed ARM
<S>                                                            <C>

Weighted Average Gross Coupon                                          3.633788%
Weighted Average Net Coupon                                            3.383788%
Weighted Average Pass-Through Rate                                     3.383788%
Weighted Average Maturity (Stepdown Calculation)                            296

Beginning Scheduled Collateral Loan Count                                 2,756
Number of Loans Paid in Full                                                  9
Ending Scheduled Collateral Loan Count                                    2,747

Beginning Scheduled Collateral Balance                         1,043,430,293.30
Ending Scheduled Collateral Balance                            1,038,858,236.44
Ending Actual Collateral Balance at 29-Nov-2002                1,038,858,236.44

Monthly P&I Constant                                               3,159,670.33
Special Servicing Fee                                                      0.00
Prepayment Penalties                                                       0.00
Realization Loss Amount                                                    0.00
Cumulative Realized Loss                                                   0.00

Class A Optimal Amount                                             7,418,089.80

Ending Scheduled Balance for Premium Loans                     1,038,858,236.44

Scheduled Principal                                                        0.00
Unscheduled Principal                                              4,572,056.81
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
             GROUP                         1                 2               TOTAL
<S>                                <C>               <C>               <C>

Collateral Description                  Mixed ARM       6 Month ARM           Mixed ARM
Weighted Average Coupon Rate             3.615118          3.713284            3.633788
Weighted Average Net Rate                3.365118          3.463284            3.383788
Pass-Through Rate                        3.365118          3.463284            3.383788
Weighted Average Maturity                     296               296                 296
Record Date                            11/29/2002        11/29/2002          11/29/2002
Principal and Interest Constant      2,545,592.16        614,078.17        3,159,670.33
Beginning Loan Count                        2,181               575               2,756
Loans Paid in Full                              7                 2                   9
Ending Loan Count                           2,174               573               2,747
Beginning Scheduled Balance        844,982,270.32    198,448,022.98    1,043,430,293.30
Ending Scheduled Balance           841,010,893.56    197,847,342.88    1,038,858,236.44
Scheduled Principal                          0.00              0.00                0.00
Unscheduled Principal                3,971,376.71        600,680.10        4,572,056.81
Scheduled Interest                   2,545,592.16        614,078.17        3,159,670.33
Servicing Fee                          176,037.98         41,343.33          217,381.31
Master Servicing Fee                         0.00              0.00                0.00
Trustee Fee                                  0.00              0.00                0.00
FRY Amount                                   0.00              0.00                0.00
Special Hazard Fee                           0.00              0.00                0.00
Other Fee                                    0.00              0.00                0.00
Pool Insurance Fee                           0.00              0.00                0.00
Spread 1                                     0.00              0.00                0.00
Spread 2                                     0.00              0.00                0.00
Spread 3                                     0.00              0.00                0.00
Net Interest                         2,369,554.18        572,734.84        2,942,289.02
Realized Loss Amount                         0.00              0.00                0.00
Cumulative Realized Loss                     0.00              0.00                0.00
Percentage of Cumulative Losses              0.00              0.00                0.00
Prepayment Penalties                         0.00              0.00                0.00
Special Servicing Fee                        0.00              0.00                0.00
</TABLE>
<PAGE>
                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
Group 1

One Month LIBOR Loans                                             401,668,891.01
Six Month LIBOR Loans                                             439,342,002.55
Pro Rata Senior Percentage                                            96.729873%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                       0.00000%

Group 2

Pro Rata Senior Percentage                                            96.722988%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
</TABLE><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
--------------------------------------------------------------------------------

<TABLE>
ISSUANCE INFORMATION
-----------------------------------------------------------------------------------------------
<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:   December 19, 2002
                        Bear, Stearns & Co. Inc.         Record Date:         December 18, 2002
                                                                              November 29, 2002
-----------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
                            SEQUOIA MORTGAGE TRUST 6

                         COLLATERALIZED MORTGAGE BONDS
             BOND PAYMENT REPORT FOR DECEMBER 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   468,138,154.44   1,257,513.59   6,351,643.90    7,609,157.49          -          -   461,786,510.54
 LT-A2                  100.00                -              -              -               -          -          -                -
 LT-X                   100.00                -              -              -               -          -          -                -
LT-B-1            5,915,000.00     5,915,000.00      15,888.88              -       15,888.88          -          -     5,915,000.00
LT-B-2            5,143,000.00     5,143,000.00      13,815.14              -       13,815.14          -          -     5,143,000.00
------------------------------------------------------------------------------------------------------------------------------------
LT-B-3            2,315,000.00     2,315,000.00       6,218.56              -        6,218.56          -          -     2,315,000.00
LT-B-4            1,534,000.00     1,534,000.00       4,120.63              -        4,120.63          -          -     1,534,000.00
LT-B-5            1,028,000.00     1,028,000.00       2,761.42              -        2,761.42          -          -     1,028,000.00
LT-B-6            2,068,996.83     2,068,996.83       5,557.74              -        5,557.74          -          -     2,068,996.83
 LT-R                        -                -              -              -               -          -          -                -
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
 Total          514,382,196.83   486,142,151.27   1,305,875.96   6,351,643.90    7,657,519.86          -          -   479,790,507.37
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Interest Accrual Detail

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

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                Orig. Principal      Prior                                                Current
          Period    Period                      (with Notional)    Principal                               Total         Principal
 Class   Starting   Ending    Method    Cusip       Balance         Balance      Interest   Principal   Distribution      Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                      (1)          (2)         (3)      (4)=(2)+(3)         (5)
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>        <C>      <C>        <C>     <C>               <C>            <C>        <C>         <C>            <C>
 LT-A                        A-30/360            496,378,000.00     943.108185   2.533379   12.795982      15.329361     930.312203
 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   2.686201           -       2.686201   1,000.000000
LT-B-2                       A-30/360              5,143,000.00   1,000.000000   2.686203           -       2.686203   1,000.000000
------------------------------------------------------------------------------------------------------------------------------------
LT-B-3                       A-30/360              2,315,000.00   1,000.000000   2.686203           -       2.686203   1,000.000000
LT-B-4                       A-30/360              1,534,000.00   1,000.000000   2.686199           -       2.686199   1,000.000000
LT-B-5                       A-30/360              1,028,000.00   1,000.000000   2.686206           -       2.686206   1,000.000000
LT-B-6                       A-30/360              2,068,996.83   1,000.000000   2.686200           -       2.686200   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  10,510,510.50  34,591,489.46          -  34,591,489.46  45,101,999.96         -         -  461,786,510.54
 LT-A2           100.00           0.27         100.00          -         100.00         100.27         -         -               -
 LT-X                 -              -         100.00          -         100.00         100.00         -         -               -
LT-B-1     5,915,000.00     129,254.92              -          -              -     129,254.92         -         -    5,915,000.00
LT-B-2     5,143,000.00     112,385.14              -          -              -     112,385.14         -         -    5,143,000.00
LT-B-3     2,315,000.00      50,587.52              -          -              -      50,587.52         -         -    2,315,000.00
LT-B-4     1,534,000.00      33,521.05              -          -              -      33,521.05         -         -    1,534,000.00
LT-B-5     1,028,000.00      22,463.93              -          -              -      22,463.93         -         -    1,028,000.00
LT-B-6     2,068,996.83      45,211.85              -          -              -      45,211.85         -         -    2,068,996.83
 LT-R                 -              -              -          -              -              -         -         -               -
----------------------------------------------------------------------------------------------------------------------------------
 Total   514,382,196.83  10,903,935.18  34,591,689.46          -  34,591,689.46  45,495,624.64         -         -  479,790,507.37
----------------------------------------------------------------------------------------------------------------------------------
</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    3.22344%    468,138,154.44   1,257,513.59             -          -             -   1,257,513.59   1,257,513.59            -
 LT-A2   3.22344%                 -              -             -          -             -              -              -            -
 LT-X                             -              -             -          -             -              -              -            -
LT-B-1   3.22344%      5,915,000.00      15,888.88             -          -             -      15,888.88      15,888.88            -
LT-B-2   3.22344%      5,143,000.00      13,815.14             -          -             -      13,815.14      13,815.14            -
------------------------------------------------------------------------------------------------------------------------------------
LT-B-3   3.22344%      2,315,000.00       6,218.56             -          -             -       6,218.56       6,218.56            -
LT-B-4   3.22344%      1,534,000.00       4,120.63             -          -             -       4,120.63       4,120.63            -
LT-B-5   3.22344%      1,028,000.00       2,761.42             -          -             -       2,761.42       2,761.42            -
LT-B-6   3.22344%      2,068,996.83       5,557.74             -          -             -       5,557.74       5,557.74            -
 LT-R                             -              -             -          -             -              -              -            -
------------------------------------------------------------------------------------------------------------------------------------
 Total               486,142,151.27   1,305,875.96             -          -             -   1,305,875.96   1,305,875.96            -
------------------------------------------------------------------------------------------------------------------------------------
</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   468,138,154.44     667,096.87   6,351,643.90   7,018,740.77          -          -   461,786,510.54
  X      CSTR           100.00                -     603,058.74              -     603,058.74          -          -                -
 A-R      R             100.00                -              -              -              -          -          -                -
 B-1     SUB      5,915,000.00     5,915,000.00      10,301.96              -      10,301.96          -          -     5,915,000.00
 B-2     SUB      5,143,000.00     5,143,000.00       8,957.39              -       8,957.39          -          -     5,143,000.00
 B-3     SUB      2,315,000.00     2,315,000.00       4,031.96              -       4,031.96          -          -     2,315,000.00
 B-4     SUB      1,534,000.00     1,534,000.00       4,120.63              -       4,120.63          -          -     1,534,000.00
 B-5     SUB      1,028,000.00     1,028,000.00       2,761.42              -       2,761.42          -          -     1,028,000.00
 B-6     SUB      2,068,996.00     2,068,996.00       5,557.74              -       5,557.74          -          -     2,068,996.00
------------------------------------------------------------------------------------------------------------------------------------
Total           514,382,196.00   486,142,150.44   1,305,886.71   6,351,643.90   7,657,530.61          -          -   479,790,506.54
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Definitive Bond Record Date: 11/29/02

Interest Accrual Detail

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

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                           Orig. Principal     Prior                                                   Current
       Period   Period                     (with Notional)   Principal                                  Total         Principal
Class Starting  Ending   Method    Cusip       Balance        Balance        Interest    Principal   Distribution      Balance
---------------------------------------------------------------------------------------------------------------------------------
                                                                (1)            (2)          (3)       (4)=(2)+(3)        (5)
---------------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>      <C>      <C>       <C>             <C>          <C>              <C>       <C>               <C>
  A   11/19/02 12/18/02 A-30/360 81743XAA7 496,378,000.00    943.108185         1.343929 12.795982        14.139911    930.312203
  X                     A-30/360 SQ0201UPX         100.00             - 6,030,587.400000         - 6,030,587.400000             -
 A-R                    A-30/360 81743XAC3         100.00             -                -         -                -             -
 B-1  11/19/02 12/18/02 A-30/360 81743XAB5   5,915,000.00  1,000.000000         1.741667         -         1.741667  1,000.000000
 B-2  11/19/02 12/18/02 A-30/360 81743XAD1   5,143,000.00  1,000.000000         1.741666         -         1.741666  1,000.000000
---------------------------------------------------------------------------------------------------------------------------------
 B-3  11/19/02 12/18/02 A-30/360 81743XAE9   2,315,000.00  1,000.000000         1.741667         -         1.741667  1,000.000000
 B-4                    A-30/360 SQ0201UB4   1,534,000.00  1,000.000000         2.686199         -         2.686199  1,000.000000
 B-5                    A-30/360 SQ0201UB5   1,028,000.00  1,000.000000         2.686206         -         2.686206  1,000.000000
 B-6                    A-30/360 SQ0201UB6   2,068,996.00  1,000.000000         2.686201         -         2.686201  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    6,518,167.24  34,591,489.46          -  34,591,489.46  41,109,656.70         -         -  461,786,510.54
  X             100.00    4,070,472.65         100.00          -         100.00   4,070,572.65         -         -               -
 A-R            100.00            0.27         100.00          -         100.00         100.27         -         -               -
 B-1      5,915,000.00       94,724.02              -          -              -      94,724.02         -         -    5,915,000.00
 B-2      5,143,000.00       82,361.07              -          -              -      82,361.07         -         -    5,143,000.00
 B-3      2,315,000.00       37,072.88              -          -              -      37,072.88         -         -    2,315,000.00
 B-4      1,534,000.00       33,521.05              -          -              -      33,521.05         -         -    1,534,000.00
 B-5      1,028,000.00       22,463.93              -          -              -      22,463.93         -         -    1,028,000.00
 B-6      2,068,996.00       45,211.82              -          -              -      45,211.82         -         -    2,068,996.00
----------------------------------------------------------------------------------------------------------------------------------
Total   514,382,196.00   10,903,994.93  34,591,689.46          -  34,591,689.46  45,495,684.39         -         -  479,790,506.54
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Interest Detail

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
         Pass-     Prior Principal                     Non-        Prior     Unscheduled                    Paid or       Current
        Through    (with Notional)      Accrued      Supported     Unpaid     Interest       Optimal        Deferred       Unpaid
Class    Rate          Balance          Interest    Interest SF   Interest   Adjustments     Interest       Interest      Interest
------------------------------------------------------------------------------------------------------------------------------------
                                          (1)           (2)          (3)         (4)         (5)=(1)-         (6)        (7)=(5)-(6)
                                                                                            (2)+(3)+(4)
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>               <C>            <C>           <C>        <C>           <C>            <C>            <C>
  A     1.71000%   468,138,154.44      667,096.87             -          -             -     667,096.87     667,096.87             -
  X     1.50289%                -      603,058.74             -          -             -     603,058.74     603,058.74             -
 A-R    3.22344%                -               -             -          -             -              -              -             -
 B-1    2.09000%     5,915,000.00       10,301.96             -          -             -      10,301.96      10,301.96             -
 B-2    2.09000%     5,143,000.00        8,957.39             -          -             -       8,957.39       8,957.39             -
------------------------------------------------------------------------------------------------------------------------------------
 B-3    2.09000%     2,315,000.00        4,031.96             -          -             -       4,031.96       4,031.96             -
 B-4    3.22344%     1,534,000.00        4,120.63             -          -             -       4,120.63       4,120.63             -
 B-5    3.22344%     1,028,000.00        2,761.42             -          -             -       2,761.42       2,761.42             -
 B-6    3.22344%     2,068,996.00        5,557.74             -          -             -       5,557.74       5,557.74             -
------------------------------------------------------------------------------------------------------------------------------------
Total              486,142,150.44    1,305,886.71             -          -             -   1,305,886.71   1,305,886.71             -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
                            COLLECTION ACCOUNT REPORT

<TABLE>
<CAPTION>
SUMMARY                                                                    TOTAL
--------------------------------------------------------------------------------
<S>                                                                 <C>
  Principal Collections                                             6,351,643.90
  Principal Withdrawals                                                     0.00
  Principal Other Accounts                                                  0.00
  TOTAL PRINCIPAL                                                   6,351,643.90

  Interest Collected                                                1,321,396.58
  Interest Withdrawals                                                      0.00
  Interest Other Accounts                                                  10.75
  Fees                                                                (15,520.62)
  TOTAL INTEREST                                                    1,305,886.71

  TOTAL AVAILABLE TO CERTIFICATEHOLDERS                             7,657,530.61
--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - COLLECTIONS                                                    TOTAL
--------------------------------------------------------------------------------
<S>                                                                 <C>
  Scheduled Principal                                                       0.00
  Curtailments                                                        405,506.67
  Prepayments In Full                                               5,946,137.23
  Repurchased Principal Amounts                                             0.00
  Substitution Principal Amount                                             0.00
  Liquidations                                                              0.00
  Insurance Principal                                                       0.00
  Other Principal                                                           0.00
  Total Realized Loss Of Principal                                          0.00

  TOTAL PRINCIPAL COLLECTED                                         6,351,643.90
--------------------------------------------------------------------------------
</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                                                1,460,071.60
  Repurchased Interest                                                      0.00
  Substitution Interest Amount                                              0.00
  Liquidation Interest                                                      0.00
  Insurance Interest                                                        0.00
  Other Interest                                                            0.00

  Delinquent Interest                                              (1,326,365.68)
  Interest Advanced                                                 1,187,690.66
  Prepayment Interest Shortfalls                                       (7,158.92)
  Compensating Interest                                                 7,158.92
  Civil Relief Act Shortfalls                                               0.00

  TOTAL INTEREST COLLECTED                                          1,321,396.58
--------------------------------------------------------------------------------
</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                                10.75

  TOTAL INTEREST OTHER ACCOUNTS                                            10.75
--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - FEES                                                            TOTAL
--------------------------------------------------------------------------------
<S>                                                                    <C>
  Current Servicing Fees                                               13,900.15
  Trustee Fee                                                           1,620.47

  TOTAL FEES                                                           15,520.62
--------------------------------------------------------------------------------
</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                10.75
  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                                          96.296557%
  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                                                                    1,194
  Prefunding                                                                   -
  Scheduled Paid Offs                                                          -
  Full Voluntary Prepayments                                                 (11)
  Repurchases                                                                  -
  Liquidations                                                                 -
  ------------------------------------------------------------------------------
  Current                                                                  1,183
  PRINCIPAL BALANCE:
  Original                                                        514,382,196.83
  Prior                                                           486,142,151.27
  Prefunding                                                                   -
  Scheduled Principal                                                          -
  Partial and Full Voluntary Prepayments                           (6,351,643.90)
  Repurchases                                                                  -
  Liquidations                                                                 -
  ------------------------------------------------------------------------------
  Current                                                         479,790,507.37
--------------------------------------------------------------------------------

</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                                        3.663363%
  Weighted Average Coupon Current                                      3.604061%
  ------------------------------------------------------------------------------
  Weighted Average Months to Maturity Original                               297
  Weighted Average Months to Maturity Prior                                  291
  Weighted Average Months to Maturity Current                                290
  ------------------------------------------------------------------------------
  Weighted Avg Remaining Amortization Term Original                          296
  Weighted Avg Remaining Amortization Term Prior                             290
  Weighted Avg Remaining Amortization Term Current                           289
  ------------------------------------------------------------------------------
  Weighted Average Seasoning Original                                       3.66
  Weighted Average Seasoning Prior                                          9.64
  Weighted Average Seasoning Current                                       10.64
--------------------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.
<PAGE>
<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                                        TOTAL
--------------------------------------------------------------------------------
<S>                                                                      <C>
  Weighted Average Margin Original                                        1.652%
  Weighted Average Margin Prior                                           1.648%
  Weighted Average Margin Current                                         1.648%
--------------------------------------------------------------------------------
  Weighted Average Max Rate Original                                     12.000%
  Weighted Average Max Rate Prior                                        12.000%
  Weighted Average Max Rate Current                                      12.000%
--------------------------------------------------------------------------------
  Weighted Average Min Rate Original                                      1.652%
  Weighted Average Min Rate Prior                                         1.648%
  Weighted Average Min Rate Current                                       1.648%
--------------------------------------------------------------------------------
  Weighted Average Cap Up Original                                        0.000%
  Weighted Average Cap Up Prior                                           0.000%
  Weighted Average Cap Up Current                                         0.000%
--------------------------------------------------------------------------------
  Weighted Average Cap Down Original                                      0.000%
  Weighted Average Cap Down Prior                                         0.000%
  Weighted Average Cap Down Current                                       0.000%
--------------------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES                                                  TOTAL
--------------------------------------------------------------------------------
<S>                                                                 <C>
  Current Servicing Fees                                               13,900.15
  Delinquent Servicing Fees                                           138,675.02
  TOTAL SERVICING FEES                                                152,575.17

  Total Servicing Fees                                                152,575.17
  Compensating Interest                                                (7,158.92)
  Delinquent Servicing Fees                                          (138,675.02)
  COLLECTED SERVICING FEES                                              6,741.23

  Prepayment Interest Shortfall                                         7,158.92

  Total Advanced Interest                                           1,187,690.66

  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                    220,000.00            -              -      220,000.00
              % Balance                       0.05%         0.00%          0.00%          0.05%
              # 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              -     220,000.00             -              -     220,000.00
              % Balance        0.00%          0.05%         0.00%          0.00%          0.05%
              # Loans              -              1             -              -              1
              % # Loans        0.00%          0.08%         0.00%          0.00%          0.08%
-----------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+
Payments = 90+
<PAGE>
     REO REPORT - MORTGAGE LOANS THAT BECOME REO DURING CURRENT DISTRIBUTION

<TABLE>
<CAPTION>
SUMMARY                                            LOAN GROUP
-----------------------------------------------------------------------------------------------------------
<S>                                                <C>
Total Loan Count =   0                             Loan Group 1  =  MSDW Group;   REO Book Value  =  000.00
Total Original Principal Balance =   000.00
Total Current Balance =   000.00
REO Book Value =   000.00
-----------------------------------------------------------------------------------------------------------
</TABLE>
REO Book Value reported corresponds to total REO loans, including loans that
become REO during current distribution.

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

----------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
           FORECLOSURE REPORT - MORTGAGE LOANS THAT BECOME FORECLOSURE
                           DURING CURRENT DISTRIBUTION

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

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

----------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
                    PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS                                                      TOTAL
--------------------------------------------------------------------------------
<S>                                                                <C>
  CURRENT
  Number of Paid in Full Loans                                                11
  Number of Repurchased Loans                                                  -
  ------------------------------------------------------------------------------
  Total Number of Loans Prepaid in Full                                       11

  Paid in Full Balance                                              5,946,137.23
  Repurchased Loans Balance                                                    -
  Curtailments Amount                                                 405,506.67
  ------------------------------------------------------------------------------
  Total Prepayment Amount                                           6,351,643.90

  CUMULATIVE
  Number of Paid in Full Loans                                                71
  Number of Repurchased Loans                                                  -
  ------------------------------------------------------------------------------
  Total Number of Loans Prepaid in Full                                       71

  Paid in Full Balance                                             28,866,482.19
  Repurchased Loans Balance                                                    -
  Curtailments Amount                                               5,725,207.27
  ------------------------------------------------------------------------------
  Total Prepayment Amount                                          34,591,689.46

                         SPACE INTENTIONALLY LEFT BLANK
--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                 TOTAL
--------------------------------------------------------------------------------
<S>                                                                      <C>
  SMM                                                                      1.31%
  3 Months Avg SMM                                                         0.87%
  12 Months Avg SMM
  Avg SMM Since Cut-off                                                    0.87%

  CPR                                                                     14.60%
  3 Months Avg CPR                                                        10.00%
  12 Months Avg CPR
  Avg CPR Since Cut-off                                                    9.92%

  PSA                                                                    686.07%
  3 Months Avg  PSA Approximation                                        518.60%
  12 Months Avg PSA Approximation
  Avg PSA Since Cut-off Approximation                                    693.53%
--------------------------------------------------------------------------------
</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) 12)

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

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

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

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

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

Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial
and full voluntary prepayments and repurchases.
--------------------------------------------------------------------------------
<PAGE>
  PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION

<TABLE>
<CAPTION>
SUMMARY                                              LOAN GROUP
--------------------------------------------------------------------------------
<S>                                                  <C>
Total Loan Count =  11                               Loan Group 1  =  MSDW Group
Total Original Principal Balance =  5,951,600.00
Total Prepayment Amount =  5,946,137.23
--------------------------------------------------------------------------------
</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>
390439691 1              461,000.00     461,000.00    Nov-21-02    4.250%    NY  -  67.79%   Paid Off  -  300    Dec-03-01
390440401 1            1,200,000.00   1,200,000.00    Nov-14-02    4.375%   MD  -  100.00%   Paid Off  -  300    Nov-27-01
390440453 1              119,000.00     118,974.70    Nov-27-02    3.750%   NY  -  100.00%   Paid Off  -  300    Dec-03-01
390443762 1              713,600.00     713,390.56    Nov-11-02    4.375%    FL  -  80.00%   Paid Off  -  300    Dec-04-01
390443915 1              800,000.00     800,000.00    Nov-29-02    3.750%    CA  -  41.03%   Paid Off  -  300    Dec-07-01
390444346 1              300,000.00     300,000.00    Nov-20-02    3.625%    CA  -  80.00%   Paid Off  -  300    Jan-14-02
390446540 1              172,000.00     172,000.00    Nov-19-02    3.750%    CA  -  80.00%   Paid Off  -  300    Dec-20-01
390447765 1              129,000.00     127,362.80    Nov-27-02    3.500%    FL  -  60.00%   Paid Off  -  300    Feb-18-02
390447931 1            1,420,000.00   1,416,500.00    Nov-22-02    3.500%    CA  -  56.24%   Paid Off  -  300    Feb-21-02
390448171 1              525,000.00     524,944.27    Nov-25-02    3.750%    CA  -  61.05%   Paid Off  -  300    Feb-15-02
390448621 1              112,000.00     111,964.90    Nov-29-02    3.375%    CA  -  77.78%   Paid Off  -  300    Feb-20-02
---------------------------------------------------------------------------------------------------------------------------
</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) 12)

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

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

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

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

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

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

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

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

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

      Dates correspond to distribution dates.
--------------------------------------------------------------------------------
<PAGE>
   REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION

<TABLE>
<CAPTION>
SUMMARY                                              LOAN GROUP
--------------------------------------------------------------------------------
<S>                                                  <C>
Total Loan Count =   0                               Loan Group 1  =  MSDW Group
Total Original Principal Balance =   0.00
Total Prior Principal Balance =   0.00
Total Realized Loss Amount =   0.00
Total Net Liquidation Proceeds =   0.00
--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
Loan Number           Original    Prior                 Current    State &
     &        Loan   Principal  Principal   Realized     Note      LTV at     Original  Origination
 Loan Group  Status   Balance    Balance   Loss/(Gain)   Rate    Origination    Term       Date
---------------------------------------------------------------------------------------------------
<S>          <C>     <C>        <C>        <C>          <C>      <C>          <C>       <C>
                                 SPACE INTENTIONALLY LEFT BLANK
---------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
               TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT

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

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

<TABLE>
<CAPTION>
ADDITIONAL INFORMATION                                                     TOTAL
--------------------------------------------------------------------------------
<S>                                                                        <C>
  Basis Risk Shortfall
  Class A                                                                   0.00
  Class B-1                                                                 0.00
  Class B-2                                                                 0.00
  Class B-3                                                                 0.00
  Unpaid Basis Risk Shortfall
  Class A                                                                   0.00
  Class B-1                                                                 0.00
  Class B-2                                                                 0.00
  Class B-3                                                                 0.00
--------------------------------------------------------------------------------
</TABLE>

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