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 2002-11
                           RECORD DATE: JULY 31, 2003
                       DISTRIBUTION DATE: AUGUST 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                    Certificate  Certificate      Beginning
                       Class     Pass-Through    Certificate      Interest
 Class    CUSIP     Description      Rate          Balance      Distribution
----------------------------------------------------------------------------
<S>      <C>        <C>          <C>            <C>             <C>
    A    81744AAA6       SEN          1.55000%  647,708,287.91    836,623.19
   X-1A  81744AAC2       IO           1.15406%            0.00    175,234.77
   X-1B  81744AAD0       IO           1.28439%            0.00    498,232.02
   X-B   81744AAE8       IO           0.72772%            0.00      5,898.19
   A-R   81744AAF5       SEN          3.25418%            0.00          0.00
   B-1   81744AAB4       SUB          2.07000%    9,726,000.00     16,777.35
   B-2   81744AAG3       SUB          2.79772%    5,764,000.00     13,438.39
   B-3   81744AAH1       SUB          2.79772%    3,962,000.00      9,237.15
   B-4   SMT0211B4       SUB          2.79772%    1,801,000.00      4,198.92
   B-5   SMT0211B5       SUB          2.79772%    1,080,000.00      2,517.95
   B-6   SMT0211B6       SUB          2.79772%    2,882,787.00      6,721.03
----------------------------------------------------------------------------
Totals                                          672,924,074.91  1,568,878.96
----------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                        Current      Ending
          Principal     Realized   Certificate         Total       Cumulative
 Class   Distribution     Loss       Balance       Distribution  Realized Loss
------------------------------------------------------------------------------
<S>      <C>            <C>       <C>             <C>            <C>
    A    13,150,859.78      0.00  634,557,428.12  13,987,482.92           0.00
   X-1A           0.00      0.00            0.00     175,234.77           0.00
   X-1B           0.00      0.00            0.00     498,232.02           0.00
   X-B            0.00      0.00            0.00       5,898.19           0.00
   A-R            0.00      0.00            0.00           0.00           0.00
   B-1            0.00      0.00    9,726,000.00      16,777.35           0.00
   B-2            0.00      0.00    5,764,000.00      13,438.39           0.00
   B-3            0.00      0.00    3,962,000.00       9,237.15           0.00
   B-4            0.00      0.00    1,801,000.00       4,198.92           0.00
   B-5            0.00      0.00    1,080,000.00       2,517.95           0.00
   B-6            0.00      0.00    2,882,787.00       6,721.03           0.00
------------------------------------------------------------------------------
Totals   13,150,859.79      0.00  659,773,215.12  14,719,738.75           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      Certificate    Principal      Principal
  Class    Face Amount       Balance      Distribution  Distribution   Accretion
--------------------------------------------------------------------------------
<S>       <C>             <C>             <C>           <C>            <C>
    A     695,210,000.00  647,708,287.91          0.00  13,150,859.79       0.00
   X-1A             0.00            0.00          0.00           0.00       0.00
   X-1B             0.00            0.00          0.00           0.00       0.00
   X-B              0.00            0.00          0.00           0.00       0.00
   A-R            100.00            0.00          0.00           0.00       0.00
   B-1      9,726,000.00    9,726,000.00          0.00           0.00       0.00
   B-2      5,726,000.00    5,764,000.00          0.00           0.00       0.00
   B-3      3,962,000.00    3,962,000.00          0.00           0.00       0.00
   B-4      1,801,000.00    1,801,000.00          0.00           0.00       0.00
   B-5      1,080,000.00    1,080,000.00          0.00           0.00       0.00
   B-6      2,882,787.00    2,882,787.00          0.00           0.00       0.00
--------------------------------------------------------------------------------
Totals    720,425,887.00  672,924,074.91          0.00  13,150,859.79       0.00
--------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

          Realized  Total Principal  Ending Certificate  Ending Certificate  Total Principal
  Class   Loss (1)     Reduction          Balance            Percentage       Distribution
--------------------------------------------------------------------------------------------
<S>       <C>       <C>              <C>                 <C>                 <C>
    A         0.00    13,150,859.79      634,557,428.12          0.91275647    13,150,859.79
   X-1A       0.00             0.00                0.00          0.00000000             0.00
   X-1B       0.00             0.00                0.00          0.00000000             0.00
   X-B        0.00             0.00                0.00          0.00000000             0.00
   A-R        0.00             0.00                0.00          0.00000000             0.00
   B-1        0.00             0.00        9,726,000.00          1.00000000             0.00
   B-2        0.00             0.00        5,764,000.00          1.00000000             0.00
   B-3        0.00             0.00        3,962,000.00          1.00000000             0.00
   B-4        0.00             0.00        1,801,000.00          1.00000000             0.00
   B-5        0.00             0.00        1,080,000.00          1.00000000             0.00
   B-6        0.00             0.00        2,882,787.00          1.00000000             0.00
--------------------------------------------------------------------------------------------
Totals        0.00    13,150,859.79      659,773,215.12          0.91580998    13,150,859.79
--------------------------------------------------------------------------------------------
</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      Certificate    Principal      Principal
  Class    Face Amount       Balance      Distribution  Distribution   Accretion
--------------------------------------------------------------------------------
<S>       <C>             <C>             <C>           <C>            <C>
     A    695,210,000.00    931.67285843    0.00000000    18.91638468  0.00000000
    X-1A            0.00      0.00000000    0.00000000     0.00000000  0.00000000
    X-1B            0.00      0.00000000    0.00000000     0.00000000  0.00000000
    X-B             0.00      0.00000000    0.00000000     0.00000000  0.00000000
    A-R           100.00      0.00000000    0.00000000     0.00000000  0.00000000
    B-1     9,726,000.00   1000.00000000    0.00000000     0.00000000  0.00000000
    B-2     5,764,000.00   1000.00000000    0.00000000     0.00000000  0.00000000
    B-3     3,962,000.00   1000.00000000    0.00000000     0.00000000  0.00000000
    B-4     1,801,000.00   1000.00000000    0.00000000     0.00000000  0.00000000
    B-5     1,080,000.00   1000.00000000    0.00000000     0.00000000  0.00000000
    B-6     2,882,787.00   1000.00000000    0.00000000     0.00000000  0.00000000
</TABLE>

<TABLE>
<CAPTION>

          Realized    Total Principal  Ending Certificate  Ending Certificate  Total Principal
  Class   Loss (3)        Reduction          Balance            Percentage       Distribution
----------------------------------------------------------------------------------------------
<S>       <C>         <C>              <C>                 <C>                 <C>
     A    0.00000000      18.91638468        912.75647376          0.91275647      18.91638468
    X-1A  0.00000000       0.00000000          0.00000000          0.00000000       0.00000000
    X-1B  0.00000000       0.00000000          0.00000000          0.00000000       0.00000000
    X-B   0.00000000       0.00000000          0.00000000          0.00000000       0.00000000
    A-R   0.00000000       0.00000000          0.00000000          0.00000000       0.00000000
    B-1   0.00000000       0.00000000       1000.00000000          1.00000000       0.00000000
    B-2   0.00000000       0.00000000       1000.00000000          1.00000000       0.00000000
    B-3   0.00000000       0.00000000       1000.00000000          1.00000000       0.00000000
    B-4   0.00000000       0.00000000       1000.00000000          1.00000000       0.00000000
    B-5   0.00000000       0.00000000       1000.00000000          1.00000000       0.00000000
    B-6   0.00000000       0.00000000       1000.00000000          1.00000000       0.00000000
</TABLE>

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

<TABLE>
<CAPTION>
                                             Beginning                   Payment of
                              Current       Certificate/     Current       Unpaid
             Original      Certificate        Notional       Accrued      Interest
 Class     Face Amount         Rate           Balance        Interest    Shortfall
-----------------------------------------------------------------------------------
<S>       <C>             <C>              <C>             <C>           <C>
     A    695,210,000.00         1.55000%  647,708,287.91    836,623.21        0.00
   X-1A             0.00         1.15406%  182,210,675.13    175,234.77        0.00
   X-1B             0.00         1.28439%  465,497,612.78    498,232.02        0.00
   X-B              0.00         0.72772%    9,726,000.00      5,898.19        0.00
   A-R            100.00         3.25418%            0.00          0.00        0.00
   B-1      9,726,000.00         2.07000%    9,726,000.00     16,777.35        0.00
   B-2      5,764,000.00         2.79772%    5,764,000.00     13,438.39        0.00
   B-3      3,962,000.00         2.79772%    3,962,000.00      9,237.15        0.00
   B-4      1,801,000.00         2.79772%    1,801,000.00      4,198.92        0.00
   B-5      1,080,000.00         2.79772%    1,080,000.00      2,517.95        0.00
   B-6      2,882,787.00         2.79772%    2,882,787.00      6,721.03        0.00
-----------------------------------------------------------------------------------
Totals    720,425,887.00                                   1,568,878.98        0.00
-----------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                        Non-                            Remaining      Ending
          Current    Supported               Total       Unpaid     Certificate/
          Interest   Interest   Realized    Interest    Interest     Notational
 Class    Shortfall  Shortfall  Loss (4)  Distribution  Shortfall     Balance
---------------------------------------------------------------------------------
<S>       <C>        <C>        <C>       <C>           <C>        <C>
     A         0.00       0.00      0.00    836,623.19       0.00  634,557,428.12
   X-1A        0.00       0.00      0.00    175,234.77       0.00  180,721,813.54
   X-1B        0.00       0.00      0.00    498,232.02       0.00  453,835,614.58
   X-B         0.00       0.00      0.00      5,898.19       0.00    9,726,000.00
   A-R         0.00       0.00      0.00          0.00       0.00            0.00
   B-1         0.00       0.00      0.00     16,777.35       0.00    9,726,000.00
   B-2         0.00       0.00      0.00     13,438.39       0.00    5,764,000.00
   B-3         0.00       0.00      0.00      9,237.15       0.00    3,962,000.00
   B-4         0.00       0.00      0.00      4,198.92       0.00    1,801,000.00
   B-5         0.00       0.00      0.00      2,517.95       0.00    1,080,000.00
   B-6         0.00       0.00      0.00      6,721.03       0.00    2,882,787.00
---------------------------------------------------------------------------------
Totals         0.00       0.00      0.00  1,568,878.96       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>
                                          Beginning                Payment of
                             Current    Certificate/    Current      Unpaid    Current
             Original     Certificate     Notional      Accrued     Interest   Interest
Class(5)   Face Amount        Rate        Balance       Interest   Shortfall   Shortfall
-----------------------------------------------------------------------------------------
<S>       <C>             <C>           <C>            <C>         <C>         <C>
     A    695,210,000.00      1.55000%   931.67285843  1.20341078  0.00000000  0.00000000
   X-1A             0.00      1.15406%   950.19480478  0.91381676  0.00000000  0.00000000
   X-1B             0.00      1.28439%   924.61811320  0.98963848  0.00000000  0.00000000
    X-B             0.00      0.72772%  1000.00000000  0.60643533  0.00000000  0.00000000
    A-R           100.00      3.25418%     0.00000000  0.00000000  0.00000000  0.00000000
    B-1     9,726,000.00      2.07000%  1000.00000000  1.72500000  0.00000000  0.00000000
    B-2     5,726,000.00      2.79772%  1000.00000000  2.33143477  0.00000000  0.00000000
    B-3     3,962,000.00      2.79772%  1000.00000000  2.33143614  0.00000000  0.00000000
    B-4     1,801,000.00      2.79772%  1000.00000000  2.33143809  0.00000000  0.00000000
    B-5     1,080,000.00      2.79772%  1000.00000000  2.33143519  0.00000000  0.00000000
    B-6     2,882,787.00      2.79772%  1000.00000000  2.33143482  0.00000000  0.00000000
</TABLE>

<TABLE>
<CAPTION>
             Non-                               Remaining      Ending
          Supported               Total         Unpaid      Certificate/
          Interest    Realized    Interest      Interest     Notational
Class(5)  Shortfall   Loss (6)    Distribution  Shortfall     Balance
-------------------------------------------------------------------------
<S>       <C>         <C>         <C>           <C>         <C>
     A    0.00000000  0.00000000    1.20341075  0.00000000   912.75647376
   X-1A   0.00000000  0.00000000    0.91381676  0.00000000   942.43066832
   X-1B   0.00000000  0.00000000    0.98963848  0.00000000   901.45388105
    X-B   0.00000000  0.00000000    0.60643533  0.00000000  1000.00000000
    A-R   0.00000000  0.00000000    0.00000000  0.00000000     0.00000000
    B-1   0.00000000  0.00000000    1.72500000  0.00000000  1000.00000000
    B-2   0.00000000  0.00000000    2.33143477  0.00000000  1000.00000000
    B-3   0.00000000  0.00000000    2.33143614  0.00000000  1000.00000000
    B-4   0.00000000  0.00000000    2.33143809  0.00000000  1000.00000000
    B-5   0.00000000  0.00000000    2.33143519  0.00000000  1000.00000000
    B-6   0.00000000  0.00000000    2.33143482  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>
<S>                                                                <C>
Beginning Balance                                                           0.00

Deposits

           Payments of Interest and Principal                      14,926,472.45
           Liquidations, Insurance Proceeds, Reserve Funds                  0.00
           Proceeds from Repurchased Loans                                  0.00
           Other Amounts (Servicer Advances)                            4,593.59
           Realized Losses                                                  0.00
           Prepayment Penalties                                             0.00
                                                                   -------------
Total Deposits                                                     14,931,066.04

Withdrawals

           Reimbursement for Servicer Advances                          4,365.78
           Payment of Service Fee                                     206,961.51
           Payment of Interest and Principal                       14,719,738.75
                                                                   -------------
Total Withdrawals (Pool Distribution Amount)                       14,931,066.04

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                                                   203,036.14
Master Servicing Fee                                                    3,925.37
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                   -------------
Net Servicing Fee                                                     206,961.51
                                                                   =============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                    Beginning     Current     Current    Ending
          Account Type               Balance    Withdrawals   Deposits   Balance
---------------------------------------------------------------------------------
<S>                                 <C>         <C>           <C>        <C>
Class X-1 Basis Risk Reserve Fund    5,000.00          0.00       0.00   5,000.00
Class X-B Basis Risk Reserve Fund    5,000.00          0.00       0.00   5,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
          DELINQUENT
------------------------------------
            No. of     Principal
            Loans       Balance

<S>        <C>        <C>
0-29 Days     0               0.00
30 Days       4       1,708,669.94
60 Days       0               0.00
90 Days       0               0.00
120 Days      0               0.00
150 Days      1         123,750.00
180+ Days     0               0.00
           -----------------------
              5       1,832,419.94

            No. of      Principal
            Loans        Balance

0-29 Days  0.000000%      0.000000%
30 Days    0.211977%      0.258979%
60 Days    0.000000%      0.000000%
90 Days    0.000000%      0.000000%
120 Days   0.000000%      0.000000%
150 Days   0.052994%      0.018756%
180+ Days  0.000000%      0.000000%
           -----------------------
           0.264971%      0.277735%
</TABLE>

<TABLE>
<CAPTION>
          BANKRUPTCY
---------------------------------
            No. of    Principal
            Loans     Balance

<S>        <C>        <C>
0-29 Days     0           0.00
30 Days       0           0.00
60 Days       0           0.00
90 Days       0           0.00
120 Days      0           0.00
150 Days      0           0.00
180+ Days     0           0.00
           -------------------
              0           0.00

            No. of    Principal
            Loans     Balance

0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%
           -------------------
           0.000000%  0.000000%
</TABLE>

<TABLE>
<CAPTION>
          FORECLOSURE
---------------------------------
            No. of    Principal
            Loans      Balance

<S>        <C>        <C>
0-29 Days     0            0.00
30 Days       0            0.00
60 Days       0            0.00
90 Days       0            0.00
120 Days      0            0.00
150 Days      0            0.00
180+ Days     0            0.00
           --------------------
              0            0.00

            No. of    Principal
            Loans      Balance

0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------------------
           0.000000%   0.000000%
</TABLE>

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

<S>        <C>        <C>
0-29 Days     0            0.00
30 Days       0            0.00
60 Days       0            0.00
90 Days       0            0.00
120 Days      0            0.00
150 Days      0            0.00
180+ Days     0            0.00
           --------------------
              0            0.00

            No. of    Principal
            Loans      Balance

0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------------------
           0.000000%   0.000000%
</TABLE>
<TABLE>
<CAPTION>
            TOTAL
----------------------------------
            No. of     Principal
            Loans       Balance

<S>        <C>        <C>
0-29 Days     0               0.00
30 Days       4       1,708,669.94
60 Days       0               0.00
90 Days       0               0.00
120 Days      0               0.00
150 Days      1         123,750.00
180+ Days     0               0.00
           -----------------------
              5       1,832,419.94

            No. of     Principal
            Loans       Balance

0-29 Days  0.000000%      0.000000%
30 Days    0.211977%      0.258979%
60 Days    0.000000%      0.000000%
90 Days    0.000000%      0.000000%
120 Days   0.000000%      0.000000%
150 Days   0.052994%      0.018756%
180+ Days  0.000000%      0.000000%
           -----------------------
           0.264971%      0.277735%
</TABLE>

Current Period Class A Insufficient Funds:                    0.00

Principal Balance of Contaminated Properties                  0.00

Periodic Advance                                          4,593.59
<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    25,215,787.00   3.50012228%  25,215,787.00   3.82188704%        96.178113%      0.000000%
Class B-1   15,489,787.00   2.15008751%  15,489,787.00   2.34774414%         1.474143%     38.571075%
Class B-2    9,725,787.00   1.35000521%   9,725,787.00   1.47411062%         0.873634%     22.858696%
Class B-3    5,763,787.00   0.80005273%   5,763,787.00   0.83760124%         0.600509%     15.712379%
Class B-4    3,962,787.00   0.55006172%   3,962,787.00   0.60062866%         0.272973%      7.142351%
Class B-5    2,882,787.00   0.40015039%   2,882,787.00   0.43693605%         0.163693%      4.283031%
Class B-6            0.00   0.00000000%           0.00   0.00000000%         0.436936%     11.432469%
</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      119,754.00   0.01662267%     119,754.00   0.01815078%
         Fraud   21,612,777.00   3.00000005%  21,612,777.00   3.27578879%
Special Hazard   11,600,000.00   1.61015869%  11,600,000.00   1.75817989%
</TABLE>

Limit of subordinate's exposure to certain types of losses
<PAGE>
                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                          3.166789%
Weighted Average Net Coupon                                            2.804722%
Weighted Average Pass-Through Rate                                     2.797722%
Weighted Average Maturity (Stepdown Calculation)                             317

Beginning Scheduled Collateral Loan Count                                  1,919
Number of Loans Paid in Full                                                  32
Ending Scheduled Collateral Loan Count                                     1,887

Beginning Scheduled Collateral Balance                            672,924,074.91
Ending Scheduled Collateral Balance                               659,773,215.12
Ending Actual Collateral Balance at 30-July-2003                  659,772,306.23

Monthly P&I Constant                                                1,775,840.51
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realization Loss Amount                                                     0.00
Cumulative Realized Loss                                                    0.00

Class A Optimal Amount                                             13,987,483.00

Ending Scheduled Balance for Premium Loans                        659,773,215.12

Scheduled Principal                                                         0.00
Unscheduled Principal                                              13,150,859.79
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Pro Rata Senior Percentage                                            96.252804%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
One Month LIBOR Loan Balance                                     187,903,264.04
Six Month LIBOR Loan Balance                                     471,869,951.08
</TABLE><PAGE>

                                  EXHIBIT 10.1

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

Distribution Date: August 28, 2003

                      SEQUOIA MORTGAGE FUNDING CORPORATION
                 COLLATERALIZED MBS FUNDING BONDS, SERIES 2002-A

                    CERTIFICATE MONTHLY DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------
                   BEGINNING       PASS       INTEREST     PRINCIPAL       TOTAL      REALIZED  ENDING CERT
CLASS    CUSIP    CERT BALANCE    THROUGH   DISTRIBUTION  DISTRIBUTION  DISTRIBUTION   LOSSES     BALANCE
-------------------------------------------------------------------------------------------------------------
<S>    <C>        <C>            <C>        <C>           <C>           <C>           <C>       <C>
 A-1   81743UAA3  35,211,403.69  1.700000%   49,882.82    1,936,310.47  1,986,193.29    0.00    33,275,093.22
 A-2   81743UAB1  11,396,776.21  1.850000%   17,570.03      185,883.73    203,453.76    0.00    11,210,892.49
-------------------------------------------------------------------------------------------------------------
Total             46,608,179.90              67,452.85    2,122,194.19  2,189,647.05    0.00    44,485,985.70
-------------------------------------------------------------------------------------------------------------
</TABLE>

                           CURRENT PAYMENT INFORMATION
                                FACTORS PER $1.00

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
                  ORIGINAL CERT    BEGINNING     INTEREST     PRINCIPAL       ENDING      CURRENT PASS
CLASS    CUSIP       BALANCE        FACTOR        FACTOR       FACTOR         FACTOR        THROUGH
------------------------------------------------------------------------------------------------------
<S>    <C>        <C>            <C>            <C>          <C>           <C>              <C>
 A-1   81743UAA3  64,761,000.00  543.713094112  0.770260217  29.899329369  513.813764743    1.700000%
 A-2   81743UAB1  15,861,000.00  718.540836692  1.107750457  11.719546406  706.821290286    1.850000%
------------------------------------------------------------------------------------------------------
Total             80,622,000.00  578.107463206  0.836655651  26.322767915  551.784695291
------------------------------------------------------------------------------------------------------
</TABLE>

             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION - GROUP I

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------
                        ORIGINAL       BEGINNING       PASS      INTEREST      PRINCIPAL
   SERIES     CLASS     BALANCE         BALANCE      THROUGH   DISTRIBUTION  DISTRIBUTION
-------------------------------------------------------------------------------------------
<S>           <C>    <C>             <C>            <C>        <C>           <C>
  CWMBS 94K    A1    123,119,000.00     410,880.25  3.737137%    1,279.60       41,861.22
DLJMA 93-Q18   1A1    51,833,000.00      60,666.39  4.362895%      220.57       60,666.39
 DLJMA 94-2A   1A1    85,787,000.00     582,379.15  4.972709%    2,413.34        1,936.86
  ONE 00-2     2A    152,653,000.00   6,760,112.31  4.238732%   23,878.59      907,337.88
 RYMS3 92-B    1A2     7,712,906.00           0.00  0.000000%        0.00            0.00
  SBM7 94-2    A1     49,384,000.00   1,095,781.07  5.758601%    5,258.47        1,936.41
  SMS 91-K     A1    110,588,063.00           0.00  0.000000%        0.00            0.00
  SMS 91-K     A3      1,917,885.00           0.00  0.000000%        0.00            0.00
 EAGLE 98-1    M1     46,029,000.00  16,748,767.38  2.100000%   30,287.34      444,841.66
  INMC 94-R    M2      4,620,000.00   2,143,811.05  4.478628%    8,001.11       24,225.35
  INMC 94-V    B1      3,618,000.00   1,303,827.68  4.484479%    4,872.49       35,755.07
  INMC 94-X    B1      2,769,000.00     983,925.63  4.403967%    3,610.98        1,214.58
  INMC 95-C    B1     12,828,797.00   3,727,689.78  4.401997%   13,674.40      113,076.86
  INMC 95-T    A2     65,695,250.00   2,048,061.59  3.726392%    6,359.90      303,458.19
-------------------------------------------------------------------------------------------
   Total             718,554,901.00  35,865,902.29              99,856.78    1,936,310.47
-------------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------
                  TOTAL     REALIZED  INTEREST      ENDING
   SERIES     DISTRIBUTION   LOSSES   SHORTFALL     BALANCE
--------------------------------------------------------------
<S>           <C>           <C>       <C>        <C>
  CWMBS 94K      43,140.81    0.00      0.00        369,019.03
DLJMA 93-Q18     60,886.96    0.00      0.00              0.00
 DLJMA 94-2A      4,350.19    0.00      0.00        580,442.29
  ONE 00-2      931,216.47    0.00      0.00      5,852,774.43
 RYMS3 92-B           0.00    0.00      0.00              0.00
  SBM7 94-2       7,194.88    0.00      0.00      1,093,844.67
  SMS 91-K            0.00    0.00      0.00              0.00
  SMS 91-K            0.00    0.00      0.00              0.00
 EAGLE 98-1     475,129.00    0.00      0.00     16,303,925.72
  INMC 94-R      32,226.46    0.00      0.00      2,119,585.70
  INMC 94-V      40,627.56    0.00      0.00      1,268,072.61
  INMC 94-X       4,825.56    0.00      0.00        982,711.05
  INMC 95-C     126,751.26    0.00      0.00      3,614,612.92
  INMC 95-T     309,818.09    0.00      0.00      1,744,603.40
--------------------------------------------------------------
   Total      2,036,167.25    0.00      0.00     33,929,591.82
--------------------------------------------------------------
</TABLE>

<PAGE>

             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION - GROUP II

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
                        ORIGINAL       BEGINNING       PASS      INTEREST     PRINCIPAL
   SERIES     CLASS     BALANCE         BALANCE      THROUGH   DISTRIBUTION  DISTRIBUTION
------------------------------------------------------------------------------------------
<S>           <C>    <C>             <C>            <C>        <C>           <C>
GRCAP 94-HM4   A1    245,813,000.00     402,167.17  4.563402%    1,529.38       1,061.74
  INMC 95-E    B1      4,608,492.00   2,593,081.73  4.551281%    9,834.87       8,249.00
  PMLT 99-A    M1      2,914,000.00   1,947,542.36  2.273333%    3,689.51      86,506.70
  RTC 95-2     A3    119,696,000.00   6,615,138.92  3.496545%   19,275.11      90,066.29
------------------------------------------------------------------------------------------
     Total           373,031,492.00  11,557,930.17              34,328.86     185,883.73
------------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------
                 TOTAL      REALIZED  INTEREST      ENDING
   SERIES     DISTRIBUTION   LOSSES   SHORTFALL    BALANCE
--------------------------------------------------------------
<S>           <C>           <C>       <C>        <C>
GRCAP 94-HM4     2,591.11     0.00      0.00        401,105.43
  INMC 95-E     18,083.87     0.00      0.00      2,584,832.73
  PMLT 99-A     90,196.21     0.00      0.00      1,861,035.66
  RTC 95-2     109,341.39     0.00      0.00      6,525,072.63
--------------------------------------------------------------
     Total     220,212.59     0.00      0.00     11,372,046.45
--------------------------------------------------------------
</TABLE>

                 UNDERLYING POOL DELINQUENT INFORMATION BY GROUP

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
                      LOANS
                  OUTSTANDING    DELINQUENT 30-59 DAYS   DELINQUENT 0-89 DAYS    DELINQUENT 90+ DAYS      FORECLOSURE
     SERIES         BALANCE       NO.        BALANCE      NO.        BALANCE      NO.      BALANCE      NO.      BALANCE
---------------------------------------------------------------------------------------------------------------------------
<S>              <C>              <C>    <C>              <C>      <C>            <C>   <C>            <C>     <C>
   CWMBS 94K       7,885,388.25    2       337,081.03      2         254,911.80    0            0.00     1       236,656.76
DLJMA 93-Q18(1)    2,523,366.43    1        70,762.23      0               0.00    0            0.00     0             0.00
 DLJMA 94-2A(1)      943,030.18    0             0.00      0               0.00    0            0.00     0             0.00
  ONE 00-2(2)    246,955,495.47   52     4,981,359.00     10       1,933,952.00   12    2,481,749.00    16     2,364,258.00
 RYMS3 92-B(2)             0.00    0             0.00      0               0.00    0            0.00     0             0.00
  SBM7 94-2(2)     4,029,698.99    1        82,473.75      0               0.00    0            0.00     0             0.00
    SMS 91-K               0.00    0             0.00      0               0.00    0            0.00     0             0.00
   EAGLE 98-1     27,607,588.14   17     1,348,642.87      2         475,777.85   19    2,269,906.47    23     2,455,412.12
   INMC 94-R       6,511,459.77    2       181,743.35      0               0.00    3    1,416,373.86     0             0.00
   INMC 94-V       5,719,834.44    2       203,516.45      0               0.00    0            0.00     0             0.00
   INMC 94-X       4,628,573.42    4       527,895.78      1         137,282.16    2      188,122.97     0             0.00
   INMC 95-C       7,105,576.45    2       218,511.03      1         112,996.39    0            0.00     4       588,116.72
  INMC 95-T(2)     6,165,775.15    2       145,292.33      1          79,701.51    1      163,808.36     0             0.00
---------------------------------------------------------------------------------------------------------------------------
     Total       320,075,786.69   85     8,097,277.82     17       2,994,621.71   37    6,519,950.66    44     5,644,443.60
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>
-----------------------------------------------------
                        REO           REALIZED LOSSES
     SERIES       NO.     BALANCE      CURR. AMOUNT
-----------------------------------------------------
<S>              <C>   <C>            <C>
   CWMBS 94K      0            0.00           0.00
DLJMA 93-Q18(1)   0            0.00           0.00
 DLJMA 94-2A(1)   0            0.00       3,393.54
  ONE 00-2(2)     5      559,597.00           0.00
 RYMS3 92-B(2)    0            0.00           0.00
  SBM7 94-2(2)    1      125,413.89           0.00
    SMS 91-K      0            0.00           0.00
   EAGLE 98-1    12    1,565,521.65     178,011.24
   INMC 94-R      0            0.00      -3,839.26
   INMC 94-V      0            0.00     -45,800.51
   INMC 94-X      0            0.00           0.00
   INMC 95-C      0            0.00           0.00
  INMC 95-T(2)    0            0.00          15.79
-----------------------------------------------------
     Total       18    2,250,532.24     131,780.80
-----------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
                  LOANS
               OUTSTANDING    DELINQUENT 30-59 DAYS   DELINQUENT 60-89 DAYS   DELINQUENT 90+ DAYS
   SERIES        BALANCE       NO.        BALANCE      NO.        BALANCE      NO.      BALANCE
-------------------------------------------------------------------------------------------------
<S>            <C>             <C>      <C>            <C>      <C>            <C>    <C>
GRCAP 94-HM4    5,552,735.53    0               0.00    0               0.00    0             0.00
 INMC 95-E     12,462,525.15    7       1,258,318.98    0               0.00    1        44,692.32
 PMLT 99-A     28,626,946.51   27       1,358,541.14   11       1,229,440.03    4       177,479.95
RTC 95-2(1)    19,470,879.69    3         192,345.64    3         331,613.51    4       297,998.54
--------------------------------------------------------------------------------------------------
   Total       66,113,086.88   37       2,809,205.76   14       1,561,053.54    9       520,170.81
--------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------
 Total All    386,188,873.57  122      10,906,483.58  31        4,555,675.25   46     7,040,121.47
--------------------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------------------
                   FORECLOSURE               REO           REALIZED LOSSES
   SERIES      NO.        BALANCE      NO.      BALANCE     CURR. AMOUNT
--------------------------------------------------------------------------
<S>            <C>      <C>            <C>   <C>           <C>
GRCAP 94-HM4    1          44,601.08    0            0.00          0.00
 INMC 95-E      5         731,979.68    0            0.00          0.00
 PMLT 99-A     23       1,598,588.84    3       93,545.51          0.00
RTC 95-2(1)     2         109,738.88    0            0.00          0.00
--------------------------------------------------------------------------
   Total       31       2,484,908.48    3       93,545.51          0.00
--------------------------------------------------------------------------

--------------------------------------------------------------------------
 Total All     75       8,129,352.08   21    2,344,078.05    131,780.80
--------------------------------------------------------------------------
</TABLE>

(1)  Information  shown  for the  Underlying  Mortgage  Loans  for  this  Pooled
     Security is based on the  Underlying  Mortgage  Loan group  related to such
     Pooled Security only.

(2)  Information  shown  for the  Underlying  Mortgage  Loans  for  this  Pooled
     Security is based on all the Underlying Mortgage Loan groups in the related
     series.

<PAGE>

                         CERTIFICATE ACCOUNT INFORMATION

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
                                            WITHDRAWALS                                                        ENDING
GROUP   BEGINNING BALANCE  FUNDS DEPOSITED  TRUSTEE FEE  MANAGEMENT FEE  AVAILABLE FUNDS  FUNDS DISTRIBUTED    BALANCE
-----------------------------------------------------------------------------------------------------------------------
<S>     <C>                <C>              <C>          <C>             <C>              <C>                 <C>
  I           0.00           2,036,167.25      896.65        0.00         2,035,270.60       1,986,193.29     49,077.31
 II           0.00             220,212.59      288.95        0.00           219,923.64         203,453.76     16,469.88
-----------------------------------------------------------------------------------------------------------------------
 Total        0.00           2,256,379.84    1,185.60        0.00         2,255,194.24       2,189,647.05     65,547.19
-----------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
                 ADDITIONAL REPORTING ITEMS                      POOL I            POOL II       TOTAL
------------------------------------------------------------------------------------------------------------
<S>        <C>                                           <C>                   <C>            <C>
2.15(a)    Available Interest                                       99,856.78      34,328.86      134,185.64
------------------------------------------------------------------------------------------------------------
           Available Principal                                   1,936,310.47     185,883.73    2,122,194.19
------------------------------------------------------------------------------------------------------------
2.15(b)    Monthly Interest Amt.                         see p. 1
------------------------------------------------------------------------------------------------------------
2.15(c)    Carryforward Interest                                         0.00           0.00            0.00
------------------------------------------------------------------------------------------------------------
2.15(d)    Principal Paid                                see p. 1
------------------------------------------------------------------------------------------------------------
2.15(e)    Class Print Amts.                             see p. 1
------------------------------------------------------------------------------------------------------------
2.15(f)    Beginning Actual OC                                         1,8248%        1.3943%
------------------------------------------------------------------------------------------------------------
           Ending Actual OC                                            1.9290%        1.4171%
------------------------------------------------------------------------------------------------------------
2.15(g)    2nd preceding pool bal                              335,328,112.55  67,761,607.79  403,089,720.34
------------------------------------------------------------------------------------------------------------
2.15(h)    Required OC                                                 2.7000%        2.0000%
------------------------------------------------------------------------------------------------------------
2.15(i)    Has Step-up Occurred?                                           No             No
------------------------------------------------------------------------------------------------------------
2.15(k)    Monies Deposited to Reserve Fund                              0.00           0.00            0.00
------------------------------------------------------------------------------------------------------------
2.15(l)    Amts. Dist. to Investor Certificateholders               49,077.31      16,469.88       65,547.19
------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Management Fee is to be paid on an annual basis. This month's Fee together
with last month's annualized amount equals the full annual Fee.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}]]