Document:

<PAGE>

                                                                   EXHIBIT 10.15

                                OPTION AGREEMENT

                                   KINGS, INC.
                                  WESTON CENTRE
                                  BOWATER HOUSE
                                68 KNIGHTSBRIDGE
                                 LONDON SW1X7LQ

                                                              September 24, 2002

Pilot Therapeutics, Inc.
101 N. Chestnut Street, Albert Hall
Winston Salem, NC  27101
Attention: Floyd H. "Ski" Chilton III, PhD.
           President, Chief Executive Officer
           and Chief Scientific Officer

                  Re:  Option Agreement

Dear Ski:

                  Kings, Inc. ("Kings") and Pilot Therapeutics, Inc. ("Pilot")
acknowledge and agree that Kings has in its possession and/or under its control
approximately 900 metric tons of borage seed ("Seed") and/or Seed converted into
borage oil ("Oil"). Seed and Oil are collectively referred to herein as "Borage
Products". Kings agrees that Pilot shall have the option (the "Option") to
purchase all or a portion of the Borage Products from Kings during the period
from January 1, 2003 to December 31, 2005 (the "Option Period") by providing
written notice (the "Exercise Notice") of Pilot's exercise of the Option to
Kings at least ninety days prior to the Borage Products estimated delivery date.
The Exercise Notice shall specify the estimated Borage Products delivery date
and delivery location. The purchase price for any (i) Seed purchased by Pilot
pursuant to an Exercise Notice shall be $2,948 per metric ton and (ii) Oil
purchased by Pilot pursuant to an Exercise Notice shall be as calculated in the
Agreement for the Supply of Borage and Echium Oil, dated April 14, 2002, between
Kings and Pilot (the "Supply Agreement"). All Borage Products delivered by Kings
to Pilot pursuant to this Option shall meet the Quality Requirements, as
specified in the Supply Agreement.

                  Kings agrees that during the Option Period it shall provide
Pilot with written notice of any proposed sale of Borage Products (a "Proposed
BP Sale") to a third party (the "Proposed BP Sale Notice"). The Proposed BP Sale
Notice shall specify all of the material terms and conditions of the Proposed BP
Sale, including, price, quantity and target delivery dates. Pilot shall have the
right to advise Kings, in writing, within three business days of Pilot's receipt
of the Proposed BP

<PAGE>

Sale Notice, that it wants to purchase all or a portion of the Borage Products
specified in the Proposed BP Sale Notice on the terms set forth in the Proposed
BP Sale Notice (the "Pilot Purchase Notice"). Upon Kings receipt of a Pilot
Purchase Notice, Kings (i) shall sell and deliver to Pilot the Borage Products
specified by Pilot in the Pilot Purchase Notice and (ii) may sell the Borage
Products specified in the Proposed BP Sale Notice not purchased by Pilot to the
third party on the same terms and conditions set forth in the Proposed BP Sale
Notice within thirty days of the date of the Proposed BP Sale Notice. If Kings
does not receive a Pilot Purchase Notice within three business days of Pilot's
receipt of a Proposed BP Sale Notice, Kings may sell the Borage Products
specified in the Proposed BP Sale Notice to a third party on the same terms and
conditions set forth in the Proposed BP Sale Notice within thirty days of the
date of the Proposed BP Sale Notice. If Kings does not sell the Borage Products
specified in the Proposed BP Sale Notice to a third party within thirty days of
the date of the Proposed BP Sale Notice, Kings shall be required to comply with
the notice and sale provisions, and Pilot shall have the purchase rights,
specified in this paragraph before Kings may sell the Borage Products originally
specified in the Proposed BP Sale Notice to a third party.

                  Subject to the immediately preceding paragraph, Pilot agrees
that if Pilot has not delivered an Exercise Notice with respect to all Borage
Products on or before the last day of the Option Period, (x) this Option shall
terminate, on the last day of the Option Period (the "Third Party Permitted Sale
Date"), with respect to all Borage Products not subject to a previously
delivered Exercise Notice ("Unpurchased Borage Products") and (y) Kings shall
have the right, after the Third Party Permitted Sale Date, to sell Unpurchased
Borage Products to a third party and have no further obligations to Pilot with
respect to Unpurchased Borage Products hereunder.

                  Pilot agrees that it shall not purchase any borage seed and/or
borage oil from a third party during the Option Period unless it has delivered
to Kings an Exercise Notice with respect to all of the Borage Products remaining
in Kings' possession and/or under its control prior to any Pilot purchase of
borage seed and/or borage oil from such third party.

                  Pilot and Kings agree that this Option shall replace in its
entirety the Purchase Order, dated November 27, 2001, relating to borage seed
commitment for future Crossential GLA and borage crop commitment for future
Crossential GLA (the "Purchase Order") and the Purchase Order shall be of no
further force and effect as of the date hereof.

                  Pilot and Kings agree that any purchase of Borage Products
pursuant to this Option shall be made in accordance with the terms and
conditions of the Supply Agreement.

<PAGE>

                  Please sign in the space indicated below to confirm Pilot's
acceptance of the terms of the Option set forth herein.

                                                     Very truly yours,

                                                     KINGS, INC.

                                                     By: /s/ Andrew Hebard
                                                         -----------------------
                                                     Name: Andrew Hebard

ACCEPTED AND AGREED as
         of the 24th day of September 2002.

PILOT THERAPEUTICS, INC.

By:  /s/ Floyd H. Chilton III Ph.D.
     -----------------------------------------
     Name:  Floyd H. "Ski" Chilton III, PhD.
     Title: President, Chief Executive Officer
            and Chief Scientific Officer<PAGE>
                                  EXHIBIT 10.1

CONTACTS

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

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

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

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

      Underwriter(s):           Greenwich Capital Markets, Inc.         Distribution Date:      September 19, 2002
                                Bear, Stearns & Co. Inc.                Record Date:            September 18, 2002
                                                                                                August 30, 2002
------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                            SEQUOIA MORTGAGE TRUST 6

                          COLLATERALIZED MORTGAGE BONDS

             BOND PAYMENT REPORT FOR SEPTEMBER 19, 2002 DISTRIBUTION

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
Distribution in Dollars - Current Period
------------------------------------------------------------------------------------------------------------------------------------
                                     Prior                                                                             Current
         Class     Original        Principal                                      Total       Realized  Deferred      Principal
  Class   Type    Face Value        Balance        Interest       Principal    Distribution    Losses   Interest       Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                     (7)=(1)-(3)-
                                      (1)             (2)            (3)       (4)=(2)+(3)      (5)        (6)         (5)+(6)
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>  <C>              <C>              <C>            <C>            <C>             <C>       <C>         <C>
  LT-A        496,378,000.00   478,495,991.68   1,320,345.98   3,905,836.68   5,226,182.66       --         --      474,590,155.00
 LT-A2                100.00               --             --             --             --       --         --                  --
  LT-X                100.00               --             --             --             --       --         --                  --
 LT-B-1         5,915,000.00     5,915,000.00      16,321.65             --      16,321.65       --         --        5,915,000.00
 LT-B-2         5,143,000.00     5,143,000.00      14,191.42             --      14,191.42       --         --        5,143,000.00
------------------------------------------------------------------------------------------------------------------------------------
 LT-B-3         2,315,000.00     2,315,000.00       6,387.93             --       6,387.93       --         --        2,315,000.00
 LT-B-4         1,534,000.00     1,534,000.00       4,232.87             --       4,232.87       --         --        1,534,000.00
 LT-B-5         1,028,000.00     1,028,000.00       2,836.63             --       2,836.63       --         --        1,028,000.00
 LT-B-6         2,068,996.83     2,068,996.83       5,709.12             --       5,709.12       --         --        2,068,996.83
  LT-R                    --               --             --             --             --       --         --                  --
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
 Total        514,382,196.83   496,499,988.51   1,370,025.60   3,905,836.68   5,275,862.28       --         --      492,594,151.83
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

Interest Accrual Detail               Current Period Factor Information per $1,000 of Original Face
------------------------------------------------------------------------------------------------------------------------------------
                                                  Orig. Principal     Prior                                              Current
          Period   Period                         (with Notional)   Principal                               Total       Principal
  Class  Starting  Ending    Method      Cusip        Balance        Balance     Interest   Principal   Distribution     Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                       (1)          (2)         (3)       (4)=(2)+(3)       (5)
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>       <C>       <C>         <C>      <C>              <C>            <C>        <C>          <C>           <C>
  LT-A                       A-30/360              496,378,000.00    963.975018   2.659961   7.868674     10.528635     956.106344
  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   2.759366         --      2.759366   1,000.000000
 LT-B-2                      A-30/360                5,143,000.00  1,000.000000   2.759366         --      2.759366   1,000.000000
------------------------------------------------------------------------------------------------------------------------------------
 LT-B-3                      A-30/360                2,315,000.00  1,000.000000   2.759365         --      2.759365   1,000.000000
 LT-B-4                      A-30/360                1,534,000.00  1,000.000000   2.759368         --      2.759368   1,000.000000
 LT-B-5                      A-30/360                1,028,000.00  1,000.000000   2.759368         --      2.759368   1,000.000000
 LT-B-6                      A-30/360                2,068,996.83  1,000.000000   2.759366         --      2.759366   1,000.000000
  LT-R                       A-30/360                          --            --         --         --            --             --
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Distribution in Dollars - to Date
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                        Current
              Original                   Unscheduled   Scheduled      Total         Total        Realized   Deferred   Principal
  Class      Face Value     Interest      Principal    Principal    Principal    Distribution     Losses    Interest    Balance
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                      (9)=(1)-(5)-
                (1)            (2)           (3)          (4)      (5)=(3)+(4)   (6)=(2)+(5)       (7)         (8)      (7)+(8)
----------------------------------------------------------------------------------------------------------------------------------
<S>        <C>             <C>           <C>            <C>       <C>            <C>             <C>        <C>     <C>
   LT-A    496,378,000.00  6,664,174.53  21,787,845.00     --     21,787,845.00  28,452,019.53      --          --  474,590,155.00
  LT-A2            100.00          0.27         100.00     --            100.00         100.27      --          --              --
   LT-X            100.00            --         100.00     --            100.00         100.00      --          --              --
  LT-B-1     5,915,000.00     80,980.80             --     --                --      80,980.80      --          --    5,915,000.00
  LT-B-2     5,143,000.00     70,411.54             --     --                --      70,411.54      --          --    5,143,000.00
  LT-B-3     2,315,000.00     31,694.09             --     --                --      31,694.09      --          --    2,315,000.00
  LT-B-4     1,534,000.00     21,001.61             --     --                --      21,001.61      --          --    1,534,000.00
  LT-B-5     1,028,000.00     14,074.10             --     --                --      14,074.10      --          --    1,028,000.00
  LT-B-6     2,068,996.83     28,326.13             --     --                --      28,326.13      --          --    2,068,996.83
   LT-R                --            --             --     --                --             --      --          --              --
-----------------------------------------------------------------------------------------------------------------------------------
  Total    514,382,196.83  6,910,663.07  21,788,045.00     --     21,788,045.00  28,698,708.07      --          --  492,594,151.83
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

Interest Detail
------------------------------------------------------------------------------------------------------------------------------------
             Pass-   Prior Principal                   Non-        Prior    Unscheduled                   Paid or       Current
            Through  (with Notional)   Accrued       Supported    Unpaid      Interest      Optimal      Deferred        Unpaid
  Class      Rate        Balance       Interest     Interest SF  Interest   Adjustments     Interest     Interest       Interest
------------------------------------------------------------------------------------------------------------------------------------
                                         (1)            (2)         (3)         (4)        (5)=(1)-          (6)       (7)=(5)-(6)
                                                                                         (2)+(3)+(4)
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>      <C>              <C>           <C>          <C>        <C>         <C>            <C>             <C>
   LT-A     3.31124%  478,495,991.68  1,320,345.98      --          --          --      1,320,345.98   1,320,345.98        --
  LT-A2     3.31124%               -             -      --          --          --                --             --        --
   LT-X                            -             -      --          --          --                --             --        --
  LT-B-1    3.31124%    5,915,000.00     16,321.65      --          --          --         16,321.65      16,321.65        --
  LT-B-2    3.31124%    5,143,000.00     14,191.42      --          --          --         14,191.42      14,191.42        --
------------------------------------------------------------------------------------------------------------------------------------
  LT-B-3    3.31124%    2,315,000.00      6,387.93      --          --          --          6,387.93       6,387.93        --
  LT-B-4    3.31124%    1,534,000.00      4,232.87      --          --          --          4,232.87       4,232.87        --
  LT-B-5    3.31124%    1,028,000.00      2,836.63      --          --          --          2,836.63       2,836.63        --
  LT-B-6    3.31124%    2,068,996.83      5,709.12      --          --          --          5,709.12       5,709.12        --
   LT-R                           --            --      --          --          --                --             --        --
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
  Total               496,499,988.51  1,370,025.60      --          --          --      1,370,025.60   1,370,025.60        --
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

Distribution in Dollars - Current Period

------------------------------------------------------------------------------------------------------------------------------------
                                         Prior                                                                          Current
           Class      Original         Principal                                    Total        Realized  Deferred    Principal
  Class     Type     Face Value         Balance       Interest      Principal    Distribution     Losses   Interest     Balance
------------------------------------------------------------------------------------------------------------------------------------
                                          (1)            (2)           (3)       (4)=(2)+(3)       (5)        (6)     (7)=(1)-(3)-
                                                                                                                        (5)+(6)
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>      <C>             <C>               <C>         <C>            <C>             <C>       <C>      <C>
    A       FLT     496,378,000.00  478,495,991.68    841,355.45  3,905,836.68   4,747,192.13      --         --    474,590,155.00
    X       CSTR            100.00              --    488,155.71            --     488,155.71      --         --                --
   A-R       R              100.00              --            --            --             --      --         --                --
   B-1      SUB       5,915,000.00    5,915,000.00     12,273.63            --      12,273.63      --         --      5,915,000.00
   B-2      SUB       5,143,000.00    5,143,000.00     10,671.73            --      10,671.73      --         --      5,143,000.00
------------------------------------------------------------------------------------------------------------------------------------
   B-3      SUB       2,315,000.00    2,315,000.00      4,803.63            --       4,803.63      --         --      2,315,000.00
   B-4      SUB       1,534,000.00    1,534,000.00      4,232.87            --       4,232.87      --         --      1,534,000.00
   B-5      SUB       1,028,000.00    1,028,000.00      2,836.63            --       2,836.63      --         --      1,028,000.00
   B-6      SUB       2,068,996.00    2,068,996.00      5,709.11            --       5,709.11      --         --      2,068,996.00
------------------------------------------------------------------------------------------------------------------------------------
  Total             514,382,196.00  496,499,987.68  1,370,038.76  3,905,836.68   5,275,875.44      --         --    492,594,151.00
------------------------------------------------------------------------------------------------------------------------------------
Definitive Bond Record Date: 8/30/02
</TABLE>

<TABLE>
<CAPTION>

       Interest Accrual Detail     Current Period Factor Information per $1,000 of Original Face
------------------------------------------------------------------------------------------------------------------------------------
                                             Orig. Principal    Prior                                                     Current
       Period   Period                       (with Notional)  Principal                                    Total         Principal
Class  Starting Ending   Method     Cusip        Balance       Balance       Interest       Principal   Distribution      Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                 (1)           (2)              (3)       (4)=(2)+(3)        (5)
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>      <C>      <C>       <C>       <C>              <C>          <C>              <C>       <C>               <C>
  A    08/19/02 09/18/02 A-30/360  81743XAA7  496,378,000.00    963.975018         1.694989  7.868674         9.563663    956.106344
  X                      A-30/360  SQ0201UPX          100.00            -- 4,881,557.100000        -- 4,881,557.100000            --
 A-R                     A-30/360  81743XAC3          100.00            --               --        --               --            --
 B-1   08/19/02 09/18/02 A-30/360  81743XAB5    5,915,000.00  1,000.000000         2.075001        --         2.075001  1,000.000000
 B-2   08/19/02 09/18/02 A-30/360  81743XAD1    5,143,000.00  1,000.000000         2.075001        --         2.075001  1,000.000000
------------------------------------------------------------------------------------------------------------------------------------
 B-3   08/19/02 09/18/02 A-30/360  81743XAE9    2,315,000.00  1,000.000000         2.075002        --         2.075002  1,000.000000
 B-4                     A-30/360  SQ0201UB4    1,534,000.00  1,000.000000         2.759368        --         2.759368  1,000.000000
 B-5                     A-30/360  SQ0201UB5    1,028,000.00  1,000.000000         2.759368        --         2.759368  1,000.000000
 B-6                     A-30/360  SQ0201UB6    2,068,996.00  1,000.000000         2.759363        --         2.759363  1,000.000000
------------------------------------------------------------------------------------------------------------------------------------
Interest will accrue on all Bonds on the basis of a 360-day year consisting of twelve 30-day months.
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

        Distribution in Dollars - to Date
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                          Current
            Original                   Unscheduled    Scheduled       Total         Total       Realized   Deferred      Principal
 Class     Face Value      Interest     Principal     Principal     Principal    Distribution    Losses    Interest       Balance
-----------------------------------------------------------------------------------------------------------------------------------
              (1)            (2)           (3)           (4)       (5)=(3)+(4)   (6)=(2)+(5)      (7)         (8)      (9)=(1)-(5)-
                                                                                                                         (7)+(8)
-----------------------------------------------------------------------------------------------------------------------------------
<S>      <C>             <C>           <C>            <C>        <C>             <C>            <C>        <C>       <C>
   A     496,378,000.00  4,158,971.03  21,787,845.00     --      21,787,845.00   25,946,816.03    --          --     474,590,155.00
   X             100.00  2,553,773.59         100.00     --             100.00    2,553,873.59    --          --                 --
  A-R            100.00          0.27         100.00     --             100.00          100.27    --          --                 --
  B-1      5,915,000.00     59,508.18             --     --                 --       59,508.18    --          --       5,915,000.00
  B-2      5,143,000.00     51,741.45             --     --                 --       51,741.45    --          --       5,143,000.00
  B-3      2,315,000.00     23,290.18             --     --                 --       23,290.18    --          --       2,315,000.00
  B-4      1,534,000.00     21,001.61             --     --                 --       21,001.61    --          --       1,534,000.00
  B-5      1,028,000.00     14,074.10             --     --                 --       14,074.10    --          --       1,028,000.00
  B-6      2,068,996.00     28,326.11             --     --                 --       28,326.11    --          --       2,068,996.00
-----------------------------------------------------------------------------------------------------------------------------------
 Total   514,382,196.00  6,910,686.52  21,788,045.00     --      21,788,045.00   28,698,731.52    --          --     492,594,151.00
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

        Interest Detail
-----------------------------------------------------------------------------------------------------------------------------------
          Pass-     Prior Principal                   Non-         Prior    Unscheduled                  Paid or       Current
         Through    (with Notional)     Accrued     Supported     Unpaid      Interest     Optimal      Deferred        Unpaid
 Class     Rate         Balance        Interest    Interest SF   Interest   Adjustments    Interest     Interest       Interest
-----------------------------------------------------------------------------------------------------------------------------------
                                          (1)          (2)          (3)         (4)        (5)=(1)-        (6)       (7)=(5)-(6)
                                                                                         (2)+(3)+(4)
-----------------------------------------------------------------------------------------------------------------------------------
<S>       <C>        <C>               <C>         <C>           <C>        <C>          <C>           <C>           <C>
   A      2.11000%   478,495,991.68    841,355.45      --            --         --       841,355.45    841,355.45         --
   X      1.19091%               --    488,155.71      --            --         --       488,155.71    488,155.71         --
  A-R     3.31124%               --            --      --            --         --               --            --         --
  B-1     2.49000%     5,915,000.00     12,273.63      --            --         --        12,273.63     12,273.63         --
  B-2     2.49000%     5,143,000.00     10,671.73      --            --         --        10,671.73     10,671.73         --
-----------------------------------------------------------------------------------------------------------------------------------
  B-3     2.49000%     2,315,000.00      4,803.63      --            --         --         4,803.63      4,803.63         --
  B-4     3.31124%     1,534,000.00      4,232.87      --            --         --         4,232.87      4,232.87         --
  B-5     3.31124%     1,028,000.00      2,836.63      --            --         --         2,836.63      2,836.63         --
  B-6     3.31124%     2,068,996.00      5,709.11      --            --         --         5,709.11      5,709.11         --
-----------------------------------------------------------------------------------------------------------------------------------
 Total               496,499,987.68  1,370,038.76      --            --         --     1,370,038.76  1,370,038.76         --
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

<TABLE>

SUMMARY                                                                   TOTAL
-------------------------------------------------------------------------------
<S>                                                                <C>
    Principal Collections                                          3,905,836.68
    Principal Withdrawals                                                  0.00
    Principal Other Accounts                                               0.00
    TOTAL PRINCIPAL                                                3,905,836.68

    Interest Collected                                             1,388,791.50
    Interest Withdrawals                                                   0.00
    Interest Other Accounts                                               13.15
    Fees                                                             (18,765.89)
    TOTAL INTEREST                                                 1,370,038.76

    TOTAL AVAILABLE TO CERTIFICATEHOLDERS                          5,275,875.44
-------------------------------------------------------------------------------

PRINCIPAL - COLLECTIONS                                                   TOTAL
-------------------------------------------------------------------------------
    Scheduled Principal                                                    0.00
    Curtailments                                                     944,364.58
    Prepayments In Full                                            2,961,472.10
    Repurchased Principal Amounts                                          0.00
    Substitution Principal Amount                                          0.00
    Liquidations                                                           0.00
    Insurance Principal                                                    0.00
    Other Principal                                                        0.00
    Total Realized Loss Of Principal                                       0.00

    TOTAL PRINCIPAL COLLECTED                                      3,905,836.68
-------------------------------------------------------------------------------

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

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

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

    Amounts remaining in Pre-Funding Account                               0.00

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

<PAGE>

<TABLE>

INTEREST - COLLECTIONS                                                    TOTAL
-------------------------------------------------------------------------------
<S>                                                                <C>
    Scheduled Interest                                             1,527,807.34
    Repurchased Interest                                                   0.00
    Substitution Interest Amount                                           0.00
    Liquidation Interest                                                   0.00
    Insurance                                                              0.00
    Interest
    Other Interest                                                         0.00

    Delinquent Interest                                           (1,361,466.38)
    Interest Advanced                                              1,222,450.54
    Prepayment Interest Shortfalls                                    (1,586.25)
    Compensating Interest                                              1,586.25
    Civil Relief Act Shortfalls                                            0.00

    TOTAL INTEREST COLLECTED                                       1,388,791.50
-------------------------------------------------------------------------------

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

    Current Nonrecoverable Advances                                        0.00

    TOTAL INTEREST WITHDRAWALS                                             0.00
-------------------------------------------------------------------------------

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

    Basis Risk Shortfall                                                   0.00
    Basis Risk Reserve Fund Interest Earnings                             13.15

    TOTAL INTEREST OTHER ACCOUNTS                                         13.15
-------------------------------------------------------------------------------

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

    Current Servicing Fees                                            17,110.89
    Trustee Fee                                                        1,655.00

    TOTAL FEES                                                        18,765.89
-------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>

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

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              13.15
    Ending Balance                                                     10,000.00
--------------------------------------------------------------------------------

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

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

STRUCTURAL FEATURES                                                        TOTAL
--------------------------------------------------------------------------------
    Pro Rata Senior Percentage                                        96.373817%
    Senior Percentage                                                100.000000%
    Subordinate Percentage                                             0.000000%
    Senior Prepayment Percentage                                     100.000000%
    Subordinate Percentage                                             0.000000%
--------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>

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

COLLATERAL                                                                TOTAL
--------------------------------------------------------------------------------
<S>                                                              <C>
      Loan Count:
    ORIGINAL                                                               1254
    Prior                                                                 1,221
    Prefunding                                                               --
    Scheduled Paid Offs                                                      --
    Full Voluntary Prepayments                                               (8)
    Repurchases                                                              --
    Liquidations                                                             --
    ---------------------------------------------------------------------------
    Current                                                               1,213

    PRINCIPAL BALANCE:
    Original                                                     514,382,196.83
    Prior                                                        496,499,988.51
    Prefunding                                                               --
    Scheduled Principal                                                      --
    Partial and Full Voluntary Prepayments                        (3,905,836.68)
    Repurchases                                                              --
    Liquidations                                                             --
    ---------------------------------------------------------------------------
    Current                                                      492,594,151.83
-------------------------------------------------------------------------------

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

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

CHARACTERISTICS                                                           TOTAL
-------------------------------------------------------------------------------
    Weighted Average Coupon Original                                  3.667751%
    Weighted Average Coupon Prior                                     3.670338%
    Weighted Average Coupon Current                                   3.692586%
    ---------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                            297
    Weighted Average Months to Maturity Prior                               294
    Weighted Average Months to Maturity Current                             293
    ---------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original                       296
    Weighted Avg Remaining Amortization Term Prior                          293
    Weighted Avg Remaining Amortization Term Current                        292
    ---------------------------------------------------------------------------
    Weighted Average Seasoning Original                                    3.66
    Weighted Average Seasoning Prior                                       6.65
    Weighted Average Seasoning Current                                     7.65
-------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>

ARM CHARACTERISTICS                                                        TOTAL
--------------------------------------------------------------------------------
<S>                                                                <C>
    Weighted Average Margin Original                                      1.652%
    Weighted Average Margin Prior                                         1.651%
    Weighted Average Margin Current                                       1.650%
    ----------------------------------------------------------------------------
    Weighted Average Max Rate Original                                   12.000%
    Weighted Average Max Rate Prior                                      12.000%
    Weighted Average Max Rate Current                                    12.000%
    ----------------------------------------------------------------------------
    Weighted Average Min Rate Original                                    1.652%
    Weighted Average Min Rate Prior                                       1.651%
    Weighted Average Min Rate Current                                     1.650%
    ----------------------------------------------------------------------------
    Weighted Average Cap Up Original                                      0.000%
    Weighted Average Cap Up Prior                                         0.000%
    Weighted Average Cap Up Current                                       0.000%
    ----------------------------------------------------------------------------
    Weighted Average Cap Down Original                                    0.000%
    Weighted Average Cap Down Prior                                       0.000%
    Weighted Average Cap Down Current                                     0.000%
--------------------------------------------------------------------------------
Note:  Original information refers to deal issue.

SERVICING FEES / ADVANCES                                                  TOTAL
--------------------------------------------------------------------------------
    Current Servicing Fees                                             17,110.89
    Delinquent Servicing Fees                                         139,015.84
    TOTAL SERVICING FEES                                              156,126.73

    Total Servicing Fees                                              156,126.73
    Compensating Interest                                             (1,586.25)
    Delinquent Servicing Fees                                       (139,015.84)
    COLLECTED SERVICING FEES                                           15,524.64

    Prepayment Interest Shortfall                                       1,586.25

    Total Advanced Interest                                         1,222,450.54

    Current Nonrecoverable Advances                                         0.00
--------------------------------------------------------------------------------

ADDITIONAL COLLATERAL INFORMATION                                          TOTAL
--------------------------------------------------------------------------------
    Mortgage Loans which adjust based on One-Month LIBOR                    0.00
    Mortgage Loans which adjust based on Six-Month LIBOR                    0.00

    Special Hazard Loss Coverage Amount                             5,800,000.00
    Current Special Hazard Losses                                           0.00
    Cumulative Special Hazard Losses                                        0.00
    Bankruptcy Loss Coverage Amount                                   100,000.00
    Current Bankruptcy Losses                                               0.00
    Cumulative Bankruptcy Losses                                            0.00
    Fraud Loss Coverage Amount                                     15,431,466.00
    Current Fraud Losses                                                    0.00
    Cumulative Fraud Losses                                                 0.00
--------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

<TABLE>
<CAPTION>
                                                           CURRENT       1 PAYMENT        2 PAYMTS       3+ PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                                   <C>          <C>               <C>            <C>             <C>
DELINQUENT           Balance                                            204,930.00              --              --       204,930.00
                     % Balance                                               0.04%           0.00%           0.00%            0.04%
                     # Loans                                                     1              --              --                1
                     % # Loans                                               0.08%           0.00%           0.00%            0.08%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                    --              --              --              --               --
                     % Balance                               0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                    --              --              --              --               --
                     % # Loans                               0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                                    --              --              --              --               --
                     % Balance                               0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                    --              --              --              --               --
                     % # Loans                               0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                    --              --              --              --               --
                     % Balance                               0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                    --              --              --              --               --
                     % # Loans                               0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                                    --      204,930.00              --              --       204,930.00
                     % Balance                               0.00%           0.04%           0.00%           0.00%            0.04%
                     # Loans                                    --               1              --              --                1
                     % # Loans                               0.00%           0.08%           0.00%           0.00%            0.08%
------------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

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

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

------------------------------------------------------------------------------------------------------------------------------------
   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>

<TABLE>
<CAPTION>

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

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

Total Loan Count = 0                                    Loan Group 1 = MSDW Group
Total Original Principal Balance = 000.00
Total Current Balance = 000.00
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
   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>

VOLUNTARY PREPAYMENTS                                                      TOTAL
--------------------------------------------------------------------------------
<S>                                                                 <C>
    CURRENT

    Number of Paid in Full Loans                                               8
    Number of Repurchased Loans                                               --
    ----------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                      8

    Paid in Full Balance                                            2,961,472.10
    Repurchased Loans Balance                                                 --
    Curtailments Amount                                               944,364.58
    ----------------------------------------------------------------------------
    Total Prepayment Amount                                         3,905,836.68

    CUMULATIVE
    Number of Paid in Full Loans                                              41
    Number of Repurchased Loans                                               --
    ----------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                     41

    Paid in Full Balance                                           17,585,659.05
    Repurchased Loans Balance                                                 --
    Curtailments Amount                                             4,202,385.95
    ----------------------------------------------------------------------------
    Total Prepayment Amount                                        21,788,045.00

                         SPACE INTENTIONALLY LEFT BLANK

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

VOLUNTARY PREPAYMENT RATES                                                 TOTAL
--------------------------------------------------------------------------------
    SMM                                                                    0.79%
    3 Months Avg SMM                                                       0.77%
    12 Months Avg SMM
    Avg SMM Since Cut-off                                                  0.86%

    CPR                                                                    9.04%
    3 Months Avg CPR                                                       8.90%
    12 Months Avg CPR
    Avg CPR Since Cut-off                                                  9.87%

    PSA                                                                  590.99%
    3 Months Avg  PSA Approximation                                      668.99%
    12 Months Avg PSA Approximation
    Avg PSA Since Cut-off Approximation                                  872.49%
--------------------------------------------------------------------------------
</TABLE>

<PAGE>

PREPAYMENT CALCULATION METHODOLOGY
--------------------------------------------------------------------------------
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments +
Repurchases)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)caret12)

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

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

Average CPR over period between the nth month and mth month (AvgCPRn,m):
1-((1-AvgSMMn,m)caret12)

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>

<TABLE>
<CAPTION>

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

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

Total Loan Count = 8                                                    Loan Group 1 = MSDW Group
Total Original Principal Balance = 2,967,700.00
Total Prepayment Amount = 2,961,472.10

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

------------------------------------------------------------------------------------------------------------------------------------
   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>
   390440652 1              900,000.00      900,000.00      Aug-30-02       3.750%       FL-72.00%      Paid Off-300      Dec-17-01
   390441402 1              308,000.00      307,421.35      Aug-23-02       3.750%       MA-80.00%      Paid Off-300      Dec-07-01
   390441893 1              288,000.00      287,954.50      Aug-30-02       3.750%       CA-79.78%      Paid Off-300      Dec-05-01
   390442607 1               95,100.00       89,496.25      Aug-30-02       3.375%       FL-30.19%      Paid Off-300      Oct-16-01
   390443803 1              352,000.00      352,000.00      Aug-23-02       3.750%       CA-80.00%      Paid Off-300      Dec-12-01
   390443828 1              171,000.00      171,000.00      Aug-27-02       4.125%       CA-55.16%      Paid Off-300      Dec-19-01
   390444180 1              700,000.00      700,000.00      Aug-27-02       4.750%       CO-62.22%      Paid Off-300      Dec-31-01
   390445646 1              153,600.00      153,600.00      Aug-23-02       3.750%       FL-80.00%      Paid Off-300      Jan-08-02
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

<TABLE>

COLLATERAL REALIZED LOSSES                                                 TOTAL
--------------------------------------------------------------------------------
<S>                                                                        <C>
    CURRENT
    Number of Loans Liquidated                                                --
    Collateral Realized Loss/(Gain) Amount                                    --
    Net Liquidation Proceeds                                                  --

    CUMULATIVE

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

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

                         SPACE INTENTIONALLY LEFT BLANK

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

DEFAULT SPEEDS                                                             TOTAL
--------------------------------------------------------------------------------
    MDR                                                                    0.00%
    3 Months Avg MDR                                                       0.00%
    12 Months Avg MDR
    Avg MDR Since Cut-off                                                  0.00%

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

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

    Loss Severity Approximation for Current Period
    3 Months Avg Loss Severity Approximation
    12 Months Avg Loss Severity Approximation
    Avg  Loss Severity Approximation Since Cut-off
--------------------------------------------------------------------------------
</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)caret12)

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

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

    Average CDR over period between the nth month and mth month (AvgCDRn,m):
    1-((1-AvgMDRn,m)caret12)

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

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

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

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

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

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

<PAGE>

<TABLE>
<CAPTION>

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

------------------------------------------------------------------------------------------------------------------------------------
   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>

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

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

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

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

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}]]