Document:

<PAGE>
                                  EXHIBIT 10.1

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

Distribution Date:  April 30, 2003

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

                    CERTIFICATE MONTHLY DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                        BEGINNING                    INTEREST     PRINCIPAL        TOTAL      REALIZED     ENDING
CLASS        CUSIP     CERT BALANCE  PASS THROUGH  DISTRIBUTION  DISTRIBUTION  DISTRIBUTION    LOSSES    CERT BALANCE
-----        -----     ------------  ------------  ------------  ------------  ------------    ------    ------------
<S>        <C>        <C>            <C>           <C>           <C>           <C>           <C>        <C>
 A-1       81743UAA3  42,151,853.06   1.910000%      67,091.70   1,063,799.28  1,130,890.98      0.00   41,088,054.37
 A-2       81743UAB1  12,736,260.62   2.060000%      21,863.91     492,793.72    514,657.63      0.00   12,243,466.90
-----      ---------  -------------   ---------      ---------   ------------  ------------      ----   -------------
 Total                54,888,114.28                  88,955.61   1,556,593.00  1,645,548.61      0.00   53,331,521.28
</TABLE>

                           CURRENT PAYMENT INFORMATION
                              FACTORS PER $1.00" 0

<TABLE>
<CAPTION>
                        ORIGINAL       BEGINNING     INTEREST      PRINCIPAL       ENDING       CURRENT
CLASS        CUSIP    CERT BALANCE      FACTOR        FACTOR        FACTOR         FACTOR     PASS THROUGH
-----        -----    ------------      ------        ------        ------         ------     ------------
<S>        <C>        <C>            <C>            <C>          <C>           <C>            <C>
 A-1       81743UAA3  64,761,000.00  650.883304106  1.035989259  16.426541941  634.456762166    1.910000%
 A-2       81743UAB1  15,861,000.00  802.992284197  1.378470088  31.069523737  771.922760460    2.060000%
-----      ---------  -------------  -------------  -----------  ------------  -------------    ---------
Total                 80,622,000.00  680.808145132  1.103366506  19.307298239  661.500846894
</TABLE>

             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION - GROUP I

<TABLE>
<CAPTION>
                        ORIGINAL       BEGINNING      PASS       INTEREST     PRINCIPAL        TOTAL
   SERIES     CLASS     BALANCE         BALANCE      THROUGH   DISTRIBUTION  DISTRIBUTION  DISTRIBUTION
  ---------   -----     -------         -------      -------   ------------  ------------  ------------
<S>           <C>    <C>             <C>            <C>        <C>           <C>           <C>
  CWMBS 94K     A1   123,119,000.00   1,236,667.76  4.774600%    4,920.49       55,794.89     60,715.39
DLJMA 93-Q18   1A1    51,833,000.00     231,065.61  5.099577%      981.95       31,637.74     32,619.69
 DLJMA 94-2A   1A1    85,787,000.00     633,353.54  5.383418%    2,841.34       45,481.81     48,323.14
  ONE 00-2      2A   152,653,000.00   7,827,462.26  4.471374%   29,166.26      275,500.41    304,666.67
 RYMS3 92-B    1A2     7,712,906.00           0.00  0.000000%        0.00            0.00          0.00
  SBM7 94-2     A1    49,384,000.00   1,263,086.23  6.255114%    6,552.38        2,161.85     8,7141.23
  SMS 91-K      A1   110,588,063.00           0.00  0.000000%        0.00            0.00          0.00
  SMS 91-K      A3     1,917,885.00           0.00  0.000000%        0.00            0.00          0.00
 EAGLE 98-1     M1    46,029,000.00  19,203,588.97  2.305000%   38,116.46      345,519.02    383,635.48
  INMC 94-R     M2     4,620,000.00   2,585,743.69  4.915174%   10,591.15      105,939.71    116,530.86
  INMC 94-V     B1     3,618,000.00   1,454,975.32  4.942121%    5,992.22       27,888.57     33,880.79
  INMC 94-X     B1     2,769,000.00   1,263,477.07  5.166049%    5,439.32       60,481.52     65,920.84
  INMC 95-C     B1    12,828,797.00   4,299,643.92  5.305851%   19,011.06      107,513.07    126,524.13
  INMC 95-T     A2    65,695,250.00   2,807,287.89  4.660284%   10,902.30        5,880.69     16,782.99
  ---------   ----   --------------  -------------  ---------  ----------    ------------  ------------
       Total         718,554,901.00  42,806,352.26             134,514.93    1,063,799.28  1,198,314.21
</TABLE>

<TABLE>
<CAPTION>
              REALIZED   INTEREST       ENDING
   SERIES      LOSSES   SHORTFALL      BALANCE
  ---------     ----      ----       ------------
<S>           <C>      <C>           <C>
  CWMBS 94K     0.00      0.00       1,180,872.87
DLJMA 93-Q18    0.00      0.00         199,427.87
 DLJMA 94-2A    0.00      0.00         587,871.73
  ONE 00-2      0.00      0.00       7,551,961.85
 RYMS3 92-B     0.00      0.00               0.00
  SBM7 94-2     0.00      0.00       1,260,924.38
  SMS 91-K      0.00      0.00               0.00
  SMS 91-K      0.00      0.00               0.00
 EAGLE 98-1     0.00      0.00      18,858,069.95
  INMC 94-R     0.00      0.00       2,479,803.98
  INMC 94-V     0.00      0.00       1,427,086.75
  INMC 94-X     0.00      0.00       1,202,995.55
  INMC 95-C     0.00    402.04       4,192,130.85
  INMC 95-T     0.00      0.00       2,801,407.20
  ---------     ----    ------      -------------
       Total    0.00    402.04      41,742,552.97
</TABLE>

<PAGE>

             UNDERLYING CERTIFICATES MONTHLY DISTRIBUTION - GROUP II

<TABLE>
<CAPTION>
                        ORIGINAL       BEGINNING      PASS        INTEREST     PRINCIPAL       TOTAL
   SERIES     CLASS     BALANCE         BALANCE     THROUGH     DISTRIBUTION  DISTRIBUTION  DISTRIBUTION
   ------     -----     -------         -------     -------     ------------  ------------  ------------
<S>           <C>    <C>             <C>            <C>         <C>           <C>           <C>
GRCAP 94-HM4    A1   245,813,000.00     457,618.66  5.002303%      1,907.62     14,310.68     16,218.30
  INMC 95-E     B1     4,608,492.00   2,811,061.75  4.606657%     10,791.33     75,046.92     85,838.25
  PMLT 99-A     M1     2,914,000.00   2,261,122.59  2.485166%      4,682.72     84,742.97     89,425.69
  RTC 95-2      A3   119,696,000.00   7,367,611.58   3.78793%     23,268.10    318,693.15    341,961.24
  ---------    ---   --------------   ------------  --------      ---------    ----------    ----------
       Total         373,031,492.00  12,897,414.58                40,649.77    492,793.72    533,433.49
</TABLE>

<TABLE>
<CAPTION>
             REALIZED  INTEREST       ENDING
   SERIES     LOSSES   SHORTFALL      BALANCE
   ------     ------   ---------      -------
<S>           <C>      <C>        <C>
GRCAP 94-HM4   0.00        0.00      443,307.98
  INMC 95-E    0.00      269.47    2,736,014.83
  PMLT 99-A    0.00        0.00    2,176,379.62
  RTC 95-2     0.00        0.00    7,048,918.44
  ---------   -----      ------   -------------
       Total   0.00      269.47   12,404,620.87
</TABLE>

                 UNDERLYING POOL DELINQUENT INFORMATION BY GROUP

<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>
   CWMBS 94K                8,923,462.37       2          153,695.92       0               0.00       0              0.00
DLJMA 93-Q18(1)             3,447,423.28       1           31,347.91       0               0.00       1         59,390.65
 DLJMA 94-2A(1)               955,100.60       0                0.00       0               0.00       0              0.00
  ONE 00-2(2)             322,395.334.90      57        7,420,118.00      11       1,054,170.00      18      4,132,201.00
 RYMS3 92-B(2)                      0.00       0                0.00       0               0.00       0              0.00
  SBM7 94-2(2)              4,601,508.00       1           82,921.54       1         108,495.86       0              0.00
    SMS 91-K                        0.00       0                0.00       0               0.00       0              0.00
   EAGLE 98-1              31,932,544.19      15        1,793,999.72       8         713,467.54      23      2,592,987.21
   INMC 94-R                7,613,574.35       3          294,095.95       1         236,667.37       1        648,936.85
   INMC 94-V                6,385,547.86       2          278,018.62       0               0.00       0              0.00
   INMC 94-X                5,685,261.49       2          249,267.88       1          94,089.31       2        191,712.82
   INMC 95-C                8,306,563.57       6          729,653.09       2         140,730.56       0              0.00
  INMC 95-T(2)              8,059,516.00       4          837,526.72       0               0.00       0              0.00
  ---------               --------------      --       -------------      --       ------------      --      ------------
     Total                408,305,837.21      93       11,870,645.35      24       2,347,620.64      45      7,625,228.53
</TABLE>

<TABLE>
<CAPTION>
                      FORECLOSURE                 REO                  REALIZED LOSSES
     SERIES       NO.        BALANCE        NO.       BALANCE            CURR. AMOUNT
     ------       ---        -------        ---       -------            ------------
<S>               <C>     <C>              <C>     <C>                <C>
   CWMBS 94K       1        238,989.21      0              0.00                0.00
DLJMA 93-Q18(1)    1         97,664.38      0              0.00            5,326.72
 DLJMA 94-2A(1)    0              0.00      0              0.00            3,393.54
  ONE 00-2(2)     18      2,124,013.00      6      1,383,228.00                0.00
 RYMS3 92-B(2)     0              0.00      0              0.00                0.00
  SBM7 94-2(2)     1        117,009.37      1        126,141.06                0.00
    SMS 91-K       0              0.00      0              0.00                0.00
   EAGLE 98-1     19      1,815,298.29     23      2,509,017.07           29,611.71
   INMC 94-R       2        761,343.89      1         54,440.70                0.00
   INMC 94-V       0              0.00      0              0.00                0.00
   INMC 94-X       2        546,292.02      0              0.00                0.00
   INMC 95-C       5        681,037.33      0              0.00                0.00
  INMC 95-T(2)     1         80,367.67      0              0.00                0.00
  ---------       --      ------------     --      ------------           ---------
     Total        50      6,462,015.16     31      4,072,826.83           38,331.97
</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              6,136,969.27       0                0.00       0               0.00       1        124,114.54
 INMC 95-E               13,192,741.62       7        1,858,160.42       5         549,993.40       2        339,163.26
 PMLT 99-A               30,799,439.18      30        1,951,612.75       2         170,175.33       6        615,988.05
RTC 95-2(1)              21,027,970.94       9          460,583.86       3         262,287.31       4        302,454.72
----------              --------------     ---       -------------      --       ------------      --      ------------
   Total                 71,157,121.71      46        4,270,357.03      10         982,456.04      13      1,381,720.57
----------              --------------     ---       -------------      --       ------------      --      ------------
 Total All              479,462,958.92     139       16,141,002.38      34       3,330,076.68      58      9,006,949.10
</TABLE>

<TABLE>
<CAPTION>
                     FORECLOSURE                   REO             REALIZED LOSSES
   SERIES        NO.        BALANCE        NO.       BALANCE          CURR. AMOUNT
   ------        ---        -------        ---       -------          ------------
<S>              <C>     <C>              <C>     <C>              <C>
GRCAP 94-HM4      1         45,002.61      0              0.00                0.00
 INMC 95-E        5        574,283.25      0              0.00                0.00
 PMLT 99-A       23      1,562,052.51      2        393,757.92                0.00
RTC 95-2(1)       2        159,183.63      0              0.00          17,.357.61
 ---------       --      ------------     --      ------------          ----------
   Total         31      2,340,522.01      2        393,757.92           17,357.61
 ---------       --      ------------     --      ------------          ----------
 Total All       81      8,802,537.16     33      4,466,584.75           55,689.58
</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>
        BEGINNING     FUNDS                                     WITHDRAWALS                                 ENDING
GROUP    BALANCE    DEPOSITED    TRUSTEE FEE  MANAGEMENT FEE  AVAILABLE FUNDS  FUNDS DISTRIBUTED            BALANCE
-----    -------    ---------    -----------  --------------  ---------------  -----------------            -------
<S>     <C>        <C>           <C>          <C>             <C>              <C>                        <C>
  I        0.00    1,198,314.21    1,070.16        0.00         1,197,244.05      1,130,890.98            66,353.07
 II        0.00      533,433.49      322.44        0.00           533,121.05        514,657.63            18,463.42
-----      ----    ------------    --------        ----         ------------      ------------            ---------
Total      0.00    1,731,757.70    1,392.59        0.00         1,730,365.11      1,645,548.61            84,816.49
</TABLE>

<TABLE>
<CAPTION>
                         ADDITIONAL REPORTING ITEMS                              POOL I             POOL II              TOTAL
                         --------------------------                              ------             -------              -----
<S>                      <C>                                               <C>                  <C>                <C>
2.15(a)                  Available Interest                                       134,514.93        40,649.77          175,164.70
                         Available Principal                                    1,063,799.28       492,793.72        1,556,593.00
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                                         1.5290%          1.2495%
                         Ending Actual OC                                            1.5679%          1.2991%
2.15(g)                  2nd preceding pool bal                               425,090,632.31    76,649,325.66      501,739,957.97
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                66,353.07        18,463.42           84,816.49
</TABLE>

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

                                  EXHIBIT 10.1

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

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

ISSUANCE INFORMATION

<TABLE>
------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                                                          <C>                        <C>
Seller:                 Redwood Trust                                                Cut-Off Date:              April 1, 2002
Certificate Insurer:                                                                 Closing Date:              April 26, 2002
Servicer(s):            Cendant Mortgage Corporation                                 First Payment Date:        May 20, 2002
                        Morgan Stanley Dean Witter

Underwriter(s):         Greenwich Capital Markets, Inc.                              Distribution Date:         April 21, 2003
                        Bear, Stearns & Co. Inc.                                     Record Date:               April 18, 2003
                                                                                                                March 31, 2003
------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                            SEQUOIA MORTGAGE TRUST 6

                          COLLATERALIZED MORTGAGE BONDS

               BOND PAYMENT REPORT FOR APRIL 21, 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  449,609,833.39  1,029,671.74  4,237,981.86  5,267,653.60      -         -        445,371,851.53
LT-A2                   100.00               -             -             -             -      -         -                     -
 LT-X                   100.00               -             -             -             -      -         -                     -
LT-B-1            5,915,000.00    5,915,000.00     13,546.21             -     13,546.21      -         -          5,915,000.00
LT-B-2            5,143,000.00    5,143,000.00     11,778.22             -     11,778.22      -         -          5,143,000.00
-------------------------------------------------------------------------------------------------------------------------------
LT-B-3            2,315,000.00    2,315,000.00      5,301.69             -      5,301.69      -         -          2,315,000.00
LT-B-4            1,534,000.00    1,534,000.00      3,513.08             -      3,513.08      -         -          1,534,000.00
LT-B-5            1,028,000.00    1,028,000.00      2,354.27             -      2,354.27      -         -          1,028,000.00
LT-B-6            2,068,996.83    2,068,996.83      4,738.30             -      4,738.30      -         -          2,068,996.83
 LT-R                        -               -             -             -             -      -         -                     -
-------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------
Total           514,382,196.83  467,613,830.22  1,070,903.51  4,237,981.86  5,308,885.37      -         -        463,375,848.36
-------------------------------------------------------------------------------------------------------------------------------
</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    905.781145  2.074370   8.537812     10.612182    897.243334
  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  2.290145          -      2.290145  1,000.000000
 LT-B-2                     A-30/360            5,143,000.00  1,000.000000  2.290146          -      2.290146  1,000.000000
---------------------------------------------------------------------------------------------------------------------------
 LT-B-3                     A-30/360            2,315,000.00  1,000.000000  2.290147          -      2.290147  1,000.000000
 LT-B-4                     A-30/360            1,534,000.00  1,000.000000  2.290143          -      2.290143  1,000.000000
 LT-B-5                     A-30/360            1,028,000.00  1,000.000000  2.290146          -      2.290146  1,000.000000
 LT-B-6                     A-30/360            2,068,996.83  1,000.000000  2.290144          -      2.290144  1,000.000000
  LT-R                      A-30/360                       -             -         -          -             -             -
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

Distribution in Dollars - to Date

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
            Original                     Unscheduled   Scheduled      Total
 Class     Face Value      Interest       Principal    Principal    Principal
-------------------------------------------------------------------------------
              (1)             (2)            (3)          (4)      (5)=(3)+(4)
-------------------------------------------------------------------------------
<S>      <C>             <C>            <C>            <C>        <C>
  LT-A   496,378,000.00  15,003,070.94  51,006,148.47      -      51,006,148.47
  LT-A2          100.00           0.27         100.00      -             100.00
  LT-X           100.00              -         100.00      -             100.00
 LT-B-1    5,915,000.00     187,582.28              -      -                  -
 LT-B-2    5,143,000.00     163,099.87              -      -                  -
 LT-B-3    2,315,000.00      73,415.56              -      -                  -
 LT-B-4    1,534,000.00      48,647.69              -      -                  -
 LT-B-5    1,028,000.00      32,600.96              -      -                  -
 LT-B-6    2,068,996.83      65,614.07              -      -                  -
  LT-R                -              -              -      -                  -
-------------------------------------------------------------------------------
Total    514,382,196.83  15,574,031.64  51,006,348.47      -      51,006,348.47
-------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------
                                                  Current
            Total       Realized  Deferred       Principal
 Class   Distribution    Losses   Interest        Balance
---------------------------------------------------------------
          (6)=(2)+(5)      (7)       (8)    (9)=(1)-(5)-(7)+(8)
---------------------------------------------------------------
<S>      <C>            <C>       <C>       <C>
  LT-A   66,009,219.41      -         -       445,371,851.53
  LT-A2         100.27      -         -                    -
  LT-X          100.00      -         -                    -
 LT-B-1     187,582.28      -         -         5,915,000.00
 LT-B-2     163,099.87      -         -         5,143,000.00
 LT-B-3      73,415.56      -         -         2,315,000.00
 LT-B-4      48,647.69      -         -         1,534,000.00
 LT-B-5      32,600.96      -         -         1,028,000.00
 LT-B-6      65,614.07      -         -         2,068,996.83
  LT-R               -      -         -                    -
------------------------------------------------------------
Total    66,580,380.11      -         -       463,375,848.36
------------------------------------------------------------
</TABLE>

Interest Detail

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
          Pass-    Prior Principal                   Non-       Prior    Unscheduled    Optimal        Paid or      Current
         Through   (with Notional)    Accrued      Supported    Unpaid     Interest     Interest      Deferred      Unpaid
 Class    Rate         Balance        Interest    Interest SF  Interest  Adjustments    (5)=(1)-      Interest     Interest
-----------------------------------------------------------------------------------------------------------------------------
                                        (1)           (2)         (3)        (4)      (2)+(3)+(4)       (6)       (7)=(5)-(6)
-----------------------------------------------------------------------------------------------------------------------------
<S>      <C>       <C>              <C>           <C>          <C>       <C>          <C>           <C>           <C>
 LT-A    2.74817%   449,609,833.39  1,029,671.74       -          -           -       1,029,671.74  1,029,671.74       -
 LT-A2   2.74817%                -             -       -          -           -                  -             -       -
 LT-X                            -             -       -          -           -                  -             -       -
LT-B-1   2.74817%     5,915,000.00     13,546.21       -          -           -          13,546.21     13,546.21       -
LT-B-2   2.74817%     5,143,000.00     11,778.22       -          -           -          11,778.22     11,778.22       -
-----------------------------------------------------------------------------------------------------------------------------
LT-B-3   2.74817%     2,315,000.00      5,301.69       -          -           -           5,301.69      5,301.69       -
LT-B-4   2.74817%     1,534,000.00      3,513.08       -          -           -           3,513.08      3,513.08       -
LT-B-5   2.74817%     1,028,000.00      2,354.27       -          -           -           2,354.27      2,354.27       -
LT-B-6   2.74817%     2,068,996.83      4,738.30       -          -           -           4,738.30      4,738.30       -
 LT-R                            -             -       -          -           -                  -             -       -
-----------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------
 Total              467,613,830.22  1,070,903.51       -          -           -       1,070,903.51  1,070,903.51       -
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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  449,609,833.39    599,948.12  4,237,981.86  4,837,929.98      -         -         445,371,851.53
  X     CSTR          100.00               -    438,278.95             -    438,278.95      -         -                      -
 A-R     R            100.00               -             -             -             -      -         -                      -
 B-1    SUB     5,915,000.00    5,915,000.00      9,765.91             -      9,765.91      -         -           5,915,000.00
 B-2    SUB     5,143,000.00    5,143,000.00      8,491.31             -      8,491.31      -         -           5,143,000.00
------------------------------------------------------------------------------------------------------------------------------
 B-3    SUB     2,315,000.00    2,315,000.00      3,822.16             -      3,822.16      -         -           2,315,000.00
 B-4    SUB     1,534,000.00    1,534,000.00      3,513.08             -      3,513.08      -         -           1,534,000.00
 B-5    SUB     1,028,000.00    1,028,000.00      2,354.27             -      2,354.27      -         -           1,028,000.00
 B-6    SUB     2,068,996.00    2,068,996.00      4,738.30             -      4,738.30      -         -           2,068,996.00
------------------------------------------------------------------------------------------------------------------------------
Total         514,382,196.00  467,613,829.39  1,070,912.10  4,237,981.86  5,308,893.96      -         -         463,375,847.53
------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Definitive Bond Record Date: 3/31/03

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

<TABLE>
<CAPTION>
---------------------------------------------------------------
                                                Orig. Principal
        Period    Period                        (with Notional)
Class  Starting   Ending    Method     Cusip        Balance
---------------------------------------------------------------

---------------------------------------------------------------
<S>    <C>       <C>       <C>       <C>        <C>
  A    03/19/03  04/18/03  A-30/360  81743XAA7   496,378,000.00
  X                        A-30/360  SQ0201UPX           100.00
 A-R                       A-30/360  81743XAC3           100.00
 B-1   03/19/03  04/18/03  A-30/360  81743XAB5     5,915,000.00
 B-2   03/19/03  04/18/03  A-30/360  81743XAD1     5,143,000.00
---------------------------------------------------------------
 B-3   03/19/03  04/18/03  A-30/360  81743XAE9     2,315,000.00
 B-4                       A-30/360  SQ0201UB4     1,534,000.00
 B-5                       A-30/360  SQ0201UB5     1,028,000.00
 B-6                       A-30/360  SQ0201UB6     2,068,996.00
---------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
          Prior                                                       Current
        Principal                                     Total          Principal
Class    Balance          Interest     Principal    Distribution      Balance
--------------------------------------------------------------------------------
           (1)              (2)           (3)        (4)=(2)+(3)        (5)
--------------------------------------------------------------------------------
<S>    <C>           <C>               <C>        <C>               <C>
  A      905.781145          1.208652   8.537812          9.746463    897.243334
  X               -  4,382,789.500000          -  4,382,789.500000             -
 A-R              -                 -          -                 -             -
 B-1   1,000.000000          1.651041          -          1.651041  1,000.000000
 B-2   1,000.000000          1.651042          -          1.651042  1,000.000000
--------------------------------------------------------------------------------
 B-3   1,000.000000          1.651041          -          1.651041  1,000.000000
 B-4   1,000.000000          2.290143          -          2.290143  1,000.000000
 B-5   1,000.000000          2.290146          -          2.290146  1,000.000000
 B-6   1,000.000000          2.290145          -          2.290145  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>
--------------------------------------------------------------
          Original                     Unscheduled   Scheduled
Class    Face Value      Interest       Principal    Principal
--------------------------------------------------------------
            (1)            (2)             (3)          (4)
--------------------------------------------------------------
<S>    <C>              <C>           <C>            <C>
  A    496,378,000.00   9,054,070.68  51,006,148.47      -
  X            100.00   6,067,639.67         100.00      -
 A-R           100.00           0.27         100.00      -
 B-1     5,915,000.00     135,149.34              -      -
 B-2     5,143,000.00     117,510.26              -      -
 B-3     2,315,000.00      52,894.45              -      -
 B-4     1,534,000.00      48,647.69              -      -
 B-5     1,028,000.00      32,600.96              -      -
 B-6     2,068,996.00      65,614.03              -      -
--------------------------------------------------------------
Total  514,382,196.00  15,574,127.35  51,006,348.47      -
--------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------
                                                             Current
           Total          Total      Realized  Deferred     Principal
Class    Principal    Distribution    Losses   Interest      Balance
----------------------------------------------------------------------------
        (5)=(3)+(4)    (6)=(2)+(5)      (7)       (8)    (9)=(1)-(5)-(7)+(8)
----------------------------------------------------------------------------
<S>    <C>            <C>            <C>       <C>       <C>
  A    51,006,148.47  60,060,219.15      -        -         445,371,851.53
  X           100.00   6,067,739.67      -        -                      -
 A-R          100.00         100.27      -        -                      -
 B-1               -     135,149.34      -        -           5,915,000.00
 B-2               -     117,510.26      -        -           5,143,000.00
 B-3               -      52,894.45      -        -           2,315,000.00
 B-4               -      48,647.69      -        -           1,534,000.00
 B-5               -      32,600.96      -        -           1,028,000.00
 B-6               -      65,614.03      -        -           2,068,996.00
----------------------------------------------------------------------------
Total  51,006,348.47  66,580,475.82      -        -         463,375,847.53
----------------------------------------------------------------------------
</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
---------------------------------------------------------------------------------------------------------------------------
                                                                                      (5)=(1)-
                                      (1)          (2)         (3)        (4)       (2)+(3)+(4)       (6)       (7)=(5)-(6)
---------------------------------------------------------------------------------------------------------------------------
<S>    <C>       <C>              <C>           <C>          <C>       <C>          <C>           <C>           <C>
  A    1.60125%   449,609,833.39    599,948.12       -          -           -         599,948.12    599,948.12       -
  X    1.13595%                -    438,278.95       -          -           -         438,278.95    438,278.95       -
 A-R   2.74817%                -             -       -          -           -                  -             -       -
 B-1   1.98125%     5,915,000.00      9,765.91       -          -           -           9,765.91      9,765.91       -
 B-2   1.98125%     5,143,000.00      8,491.31       -          -           -           8,491.31      8,491.31       -
---------------------------------------------------------------------------------------------------------------------------
 B-3   1.98125%     2,315,000.00      3,822.16       -          -           -           3,822.16      3,822.16       -
 B-4   2.74817%     1,534,000.00      3,513.08       -          -           -           3,513.08      3,513.08       -
 B-5   2.74817%     1,028,000.00      2,354.27       -          -           -           2,354.27      2,354.27       -
 B-6   2.74817%     2,068,996.00      4,738.30       -          -           -           4,738.30      4,738.30       -
---------------------------------------------------------------------------------------------------------------------------
Total             467,613,829.39  1,070,912.10       -          -           -       1,070,912.10  1,070,912.10       -
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                            COLLECTION ACCOUNT REPORT

<TABLE>
<CAPTION>
SUMMARY                                                                            TOTAL
--------------------------------------------------------------------------------------------
<S>                                                                             <C>
Principal Collections                                                           4,237,981.86
Principal Withdrawals                                                                   0.00
Principal Other Accounts                                                                0.00
TOTAL PRINCIPAL                                                                 4,237,981.86

Interest Collected                                                              1,097,385.87
Interest Withdrawals                                                                    0.00
Interest Other Accounts                                                                 8.60
Fees                                                                              (26,482.37)
TOTAL INTEREST                                                                  1,070,912.10

TOTAL AVAILABLE TO CERTIFICATEHOLDERS                                           5,308,893.96
--------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
PRINCIPAL - COLLECTIONS                                                            TOTAL
--------------------------------------------------------------------------------------------
<S>                                                                             <C>
Scheduled Principal                                                                     0.00
Curtailments                                                                      611,714.49
Prepayments In Full                                                             3,626,267.37
Repurchased Principal Amounts                                                           0.00
Substitution Principal Amount                                                           0.00
Liquidations                                                                            0.00
Insurance Principal                                                                     0.00
Other Principal                                                                         0.00
Total Realized Loss Of Principal                                                        0.00

TOTAL PRINCIPAL COLLECTED                                                       4,237,981.86
--------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

<TABLE>
<CAPTION>

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

<TABLE>
<CAPTION>
INTEREST - COLLECTIONS                                                             TOTAL
--------------------------------------------------------------------------------------------
<S>                                                                            <C>
Scheduled Interest                                                              1,219,184.63
Repurchased Interest                                                                    0.00
Substitution Interest Amount                                                            0.00
Liquidation Interest                                                                    0.00
Insurance Interest                                                                      0.00
Other Interest                                                                          0.00

Delinquent Interest                                                            (1,013,152.07)
Interest Advanced                                                                 891,353.31
Prepayment Interest Shortfalls                                                     (2,756.71)
Compensating Interest                                                               2,756.71
Civil Relief Act Shortfalls                                                             0.00

TOTAL INTEREST COLLECTED                                                        1,097,385.87
--------------------------------------------------------------------------------------------
</TABLE>

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

TOTAL INTEREST WITHDRAWALS                                                         0.00
---------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
INTEREST - OTHER ACCOUNTS                                                          TOTAL
----------------------------------------------------------------------------------------
<S>                                                                                <C>
Basis Risk Shortfall                                                                0.00
Basis Risk Reserve Fund Interest Earnings                                           8.60

TOTAL INTEREST OTHER ACCOUNTS                                                       8.60
----------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
INTEREST - FEES                                                                      TOTAL
--------------------------------------------------------------------------------------------
<S>                                                                                <C>
Current Servicing Fees                                                             24,923.66
Trustee Fee                                                                         1,558.71

TOTAL FEES                                                                         26,482.37
--------------------------------------------------------------------------------------------
</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                                                      8.60
   Ending Balance                                                                                            10,000.00
----------------------------------------------------------------------------------------------------------------------
</TABLE>

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

<TABLE>
<CAPTION>
STRUCTURAL FEATURES                                                                                            TOTAL
----------------------------------------------------------------------------------------------------------------------
<S>                                                                                                         <C>
   Pro Rata Senior Percentage                                                                                96.149815%
   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                                                                                                         1,153
   Prefunding                                                                                                        -
   Scheduled Paid Offs                                                                                               -
   Full Voluntary Prepayments                                                                                      (12)
   Repurchases                                                                                                       -
   Liquidations                                                                                                      -
----------------------------------------------------------------------------------------------------------------------
   Current                                                                                                       1,141

   PRINCIPAL BALANCE:
   Original                                                                                             514,382,196.83
   Prior                                                                                                467,613,830.22
   Prefunding                                                                                                        -
   Scheduled Principal                                                                                               -
   Partial and Full Voluntary Prepayments                                                                (4,237,981.86)
   Repurchases                                                                                                       -
   Liquidations                                                                                                      -
----------------------------------------------------------------------------------------------------------------------
Current                                                                                                 463,375,848.36
----------------------------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

<TABLE>
<CAPTION>
CHARACTERISTICS                                                                                                TOTAL
----------------------------------------------------------------------------------------------------------------------
<S>                                                                                                          <C>
   Weighted Average Coupon Original                                                                          3.667751%
   Weighted Average Coupon Prior                                                                             3.254322%
   Weighted Average Coupon Current                                                                           3.128696%
----------------------------------------------------------------------------------------------------------------------
   Weighted Average Months to Maturity Original                                                                   297
   Weighted Average Months to Maturity Prior                                                                      287
   Weighted Average Months to Maturity Current                                                                    286
----------------------------------------------------------------------------------------------------------------------
   Weighted Avg Remaining Amortization Term Original                                                              296
   Weighted Avg Remaining Amortization Term Prior                                                                 286
   Weighted Avg Remaining Amortization Term Current                                                               285
----------------------------------------------------------------------------------------------------------------------
   Weighted Average Seasoning Original                                                                           3.66
   Weighted Average Seasoning Prior                                                                             13.63
   Weighted Average Seasoning Current                                                                           14.63
----------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                                                                             TOTAL
----------------------------------------------------------------------------------------------------------------------
<S>                                                                                                            <C>
   Weighted Average Margin Original                                                                             1.652%
   Weighted Average Margin Prior                                                                                1.644%
   Weighted Average Margin Current                                                                              1.644%
----------------------------------------------------------------------------------------------------------------------
   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                                                                              1.644%
   Weighted Average Min Rate Current                                                                            1.644%
----------------------------------------------------------------------------------------------------------------------
   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.

<PAGE>

<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES                                                                                     TOTAL
----------------------------------------------------------------------------------------------------------------------
<S>                                                                                                        <C>
Current Servicing Fees                                                                                       24,923.66
Delinquent Servicing Fees                                                                                   121,798.76
TOTAL SERVICING FEES                                                                                        146,722.42

Total Servicing Fees                                                                                        146,722.42
Compensating Interest                                                                                        (2,756.71)
Delinquent Servicing Fees                                                                                  (121,798.76)
COLLECTED SERVICING FEES                                                                                     22,166.95

Prepayment Interest Shortfall                                                                                 2,756.71

Total Advanced Interest                                                                                     891,353.31

Current Nonrecoverable Advances                                                                                   0.00
----------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                           DELINQUENCY REPORT - TOTAL

<TABLE>
<CAPTION>
                                             <1 PAYMENT        1 PAYMENT        2  PAYMENTS            3+ PAYMENTS        TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                   <C>                    <C>               <C>              <C>                    <C>              <C>
DELINQUENT            Balance                                  157,688.05                  -                  -         157,688.05
                      % Balance                                      0.03%              0.00%              0.00%              0.03%
                      # Loans                                           1                  -                  -                  1
                      % # Loans                                      0.09%              0.00%              0.00%              0.09%
----------------------------------------------------------------------------------------------------------------------------------
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                      -           157,688.05                  -                  -         157,688.05
                      % Balance                 0.00%                0.03%              0.00%              0.00%              0.03%
                      # Loans                      -                    1                  -                  -                  1
                      % # Loans                 0.00%                0.09%              0.00%              0.00%              0.09%
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: <1 Payment = 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                                                                      12

Number of Repurchased Loans                                                                        -
-----------------------------------------------------------------------------------------------------

Total Number of Loans Prepaid in Full                                                             12

Paid in Full Balance                                                                    3,626,267.37

Repurchased Loans Balance                                                                          -

Curtailments Amount                                                                       611,714.49
-----------------------------------------------------------------------------------------------------

Total Prepayment Amount                                                                 4,237,981.86

CUMULATIVE

Number of Paid in Full Loans                                                                     113

Number of Repurchased Loans                                                                        -
-----------------------------------------------------------------------------------------------------

Total Number of Loans Prepaid in Full                                                            113

Paid in Full Balance                                                                   43,114,417.43

Repurchased Loans Balance                                                                          -

Curtailments Amount                                                                     7,891,931.04
-----------------------------------------------------------------------------------------------------

Total Prepayment Amount                                                                51,006,348.47

                               SPACE INTENTIONALLY LEFT BLANK

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

<PAGE>

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                                 TOTAL
-------------------------------------------------------------------------------------------------
<S>                                                                                       <C>
SMM                                                                                         0.91%
3 Months Avg SMM                                                                            0.88%
12 Months Avg SMM                                                                           0.87%
Avg SMM Since Cut-off                                                                       0.87%

CPR                                                                                        10.35%
3 Months Avg CPR                                                                           10.06%
12 Months Avg CPR                                                                           9.92%
Avg CPR Since Cut-off                                                                       9.92%

PSA                                                                                       353.71%
3 Months Avg PSA Approximation                                                            368.99%
12 Months Avg PSA Approximation                                                           542.26%
Avg PSA Since Cut-off Approximation                                                       542.26%
-------------------------------------------------------------------------------------------------
</TABLE>

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.

           Dates correspond to distribution dates.
--------------------------------------------------------------------------------

<PAGE>

  PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION

SUMMARY                                                LOAN GROUP
------------------------------------------------       -------------------------
Total Loan Count = 12                                  Loan Group 1 = MSDW Group
Total Original Principal Balance = 3,647,900.00
Total Prepayment Amount = 3,626,267.37
------------------------------------------------       -------------------------

<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>
390436333 1            600,000.00   599,647.18   Mar-26-03    3.500%    CA  -  21.43%   Paid Off  -  300     Nov-14-01
390440425 1            208,000.00   208,000.00   Mar-27-03    3.500%    NJ  -  80.00%   Paid Off  -  300     Nov-30-01
390440501 1            189,900.00   188,685.08   Mar-20-03    3.500%    CA  -  99.95%   Paid Off  -  300     Nov-30-01
390442042 1            195,000.00   176,000.00   Mar-28-03    3.500%    IL  -  25.83%   Paid Off  -  300     Nov-15-01
390443574 1            386,000.00   386,000.00   Mar-19-03    3.500%    CA  - 100.00%   Paid Off  -  300     Nov-13-01
390444147 1            344,000.00   344,000.00   Mar-25-03    3.000%    MI  -  80.00%   Paid Off  -  300     Dec-26-01
390445655 1            290,000.00   288,935.11   Mar-13-03    3.000%    MD  -  80.00%   Paid Off  -  300     Dec-27-01
390446314 1            400,000.00   400,000.00   Mar-31-03    3.000%    FL  -  80.00%   Paid Off  -  300     Feb-14-02
390447531 1            364,000.00   364,000.00   Mar-24-03    3.000%    CA  -  86.87%   Paid Off  -  300     Jan-31-02
390447872 1            288,000.00   288,000.00   Mar-28-03    2.875%    MI  -  80.00%   Paid Off  -  300     Jan-22-02
390448609 1            183,000.00   183,000.00   Mar-10-03    3.500%    WA  -  76.25%   Paid Off  -  300     Feb-25-02
390449514 1            200,000.00   200,000.00   Mar-25-03    2.875%    CA  -  25.25%   Paid Off  -  300     Feb-28-02
-----------------------------------------------------------------------------------------------------------------------
</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 Loss Amount may include adjustments to loans liquidated in prior periods.

                           SPACE INTENTIONALLY LEFT BLANK

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

<PAGE>

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

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

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

Loss Severity Approximation for Current Period
3 Months Avg Loss Severity Approximation
12 Months Avg Loss Severity Approximation
Avg Loss Severity Approximation Since Cut-off
-------------------------------------------------------------------------------
</TABLE>

<PAGE>

COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
-------------------------------------------------------------------------------

Monthly Default Rate (MDR):
   (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)

Conditional Default Rate (CDR): 1-((1-MDR)(caret)12)

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

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

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

Average SDA Approximation over period between the nth month and mth month:
   AvgCDRn,m/IF(Avg WASn,m (less than) 61,MIN(30,Avg WASn,m)* 0.02,MAX(0.03,MIN
   (30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))

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

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

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

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

           Dates correspond to distribution dates.
-------------------------------------------------------------------------------
<PAGE>

   REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION

SUMMARY                                                LOAN GROUP
----------------------------------------               -------------------------
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
----------------------------------------               -------------------------

Note: Total Realized Loss Amount may include adjustments to loans liquidated in
  prior periods.

<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-00051-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00051-of-00352.parquet"}]]