Contract

by Sequoia Mortgage Funding Corp
December 23rd, 2002

                                  EXHIBIT 10.1

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

                                SMT SERIES 2002-7
                          RECORD DATE: OCTOBER 31, 2002
                      DISTRIBUTION DATE: NOVEMBER 20, 2002

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

- -------------------------------------------------------------------------------------------- Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution - -------------------------------------------------------------------------------------------- A 81743YAA5 SEN 2.17000% 528,871,384.15 956,375.75 A-R SMT0207AR SEN 3.54181% 0.00 0.00 B-1 81743YAE7 SUB 2.58000% 8,080,000.00 17,372.00 B-2 81743YAF4 SUB 3.42362% 5,771,000.00 16,464.74 B-3 81743YAG2 SUB 3.42362% 3,463,000.00 9,879.99 B-4 SMT0207B4 SUB 3.42362% 1,442,000.00 4,114.05 B-5 SMT0207B5 SUB 3.42362% 1,154,000.00 3,292.38 B-6 SMT0207B6 SUB 3.42362% 2,600,498.71 7,419.26 X-1 81743YAC1 SEN 1.06418% 0.00 81,847.55 X-2 81743YAD9 SEN 1.28549% 0.00 476,345.54 - -------------------------------------------------------------------------------------------- Totals 551,381,882.86 1,573,111.26 - --------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------- Ending Principal Current Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ---------------------------------------------------------------------------------------------- A 4,646,837.56 0.00 524,224,546.59 5,603,213.31 0.00 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 8,080,000.00 17,372.00 0.00 B-2 0.00 0.00 5,771,000.00 16,464.74 0.00 B-3 0.00 0.00 3,463,000.00 9,879.99 0.00 B-4 0.00 0.00 1,442,000.00 4,114.05 0.00 B-5 0.00 0.00 1,154,000.00 3,292.38 0.00 B-6 0.00 0.00 2,600,498.71 7,419.26 0.00 X-1 0.00 0.00 0.00 81,847.55 0.00 X-2 0.00 0.00 0.00 476,345.54 0.00 - ---------------------------------------------------------------------------------------------- Totals 4,646,837.56 0.00 546,735,045.30 6,219,948.82 0.00 - ----------------------------------------------------------------------------------------------
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
- --------------------------------------------------------------------------------------- Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Class Amount Balance Distribution Distribution Accretion - --------------------------------------------------------------------------------------- A 554,686,000.00 528,871,384.15 1,756.88 4,645,080.68 0.00 A-R 100.00 0.00 0.00 0.00 0.00 B-1 8,080,000.00 8,080,000.00 0.00 0.00 0.00 B-2 5,771,000.00 5,771,000.00 0.00 0.00 0.00 B-3 3,463,000.00 3,463,000.00 0.00 0.00 0.00 B-4 1,442,000.00 1,442,000.00 0.00 0.00 0.00 B-5 1,154,000.00 1,154,000.00 0.00 0.00 0.00 B-6 2,600,498.71 2,600,498.71 0.00 0.00 0.00 X-1 50.00 0.00 0.00 0.00 0.00 X-2 50.00 0.00 0.00 0.00 0.00 - --------------------------------------------------------------------------------------- Totals 577,196,698.71 551,381,882.86 1,756.88 4,645,080.68 0.00 - ---------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------- Realized Total Principal Ending Certificate Ending Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ----------------------------------------------------------------------------------------------------- A 0.00 4,646,837.56 524,224,546.59 0.94508343 4,646,837.56 A-R 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 8,080,000.00 1.00000000 0.00 B-2 0.00 0.00 5,771,000.00 1.00000000 0.00 B-3 0.00 0.00 3,463,000.00 1.00000000 0.00 B-4 0.00 0.00 1,442,000.00 1.00000000 0.00 B-5 0.00 0.00 1,154,000.00 1.00000000 0.00 B-6 0.00 0.00 2,600,498.71 1.00000000 0.00 X-1 0.00 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00 0.00000000 0.00 - ----------------------------------------------------------------------------------------------------- Totals 0.00 4,646,837.56 546,735,045.30 0.94722483 4,646,837.56 - -----------------------------------------------------------------------------------------------------
(1) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. PRINCIPAL DISTRIBUTION FACTORS STATEMENT
- ---------------------------------------------------------------------------------------------------- Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (3) - ---------------------------------------------------------------------------------------------------- A 554,686,000.00 953.46084839 0.00316734 8.37425260 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,080,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,771,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,442,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,154,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,600,498.71 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - ----------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----------------------------------------------------------------------------------------- A 8.37741995 945.08342844 0.94508343 8.37741995 A-R 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000 X-1 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 - -----------------------------------------------------------------------------------------
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
- ------------------------------------------------------------------------------------------------------------------------------- Beginning Payment of Non- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Realized Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------------------------------------------------------------------------------------------------------------------------------- A 554,686,000.00 2.17000% 528,871,384.15 956,375.75 0.00 0.00 0.00 0.00 A-R 100.00 3.54181% 0.00 0.00 0.00 0.00 0.00 0.00 B-1 8,080,000.00 2.58000% 8,080,000.00 17,372.00 0.00 0.00 0.00 0.00 B-2 5,771,000.00 3.42362% 5,771,000.00 16,464.74 0.00 0.00 0.00 0.00 B-3 3,463,000.00 3.42362% 3,463,000.00 9,879.99 0.00 0.00 0.00 0.00 B-4 1,442,000.00 3.42362% 1,442,000.00 4,114.05 0.00 0.00 0.00 0.00 B-5 1,154,000.00 3.42362% 1,154,000.00 3,292.38 0.00 0.00 0.00 0.00 B-6 2,600,498.71 3.42362% 2,600,498.71 7,419.26 0.00 0.00 0.00 0.00 X-1 50.00 1.06418% 92,292,092.13 81,845.90 0.00 0.00 0.00 0.00 X-2 50.00 1.28549% 444,659,292.02 476,335.95 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------------- Totals 577,196,698.71 1,573,100.02 0.00 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ---------------------------------------------------------- A 956,375.75 0.00 524,224,546.59 A-R 0.00 0.00 0.00 B-1 17,372.00 0.00 8,080,000.00 B-2 16,464.74 0.00 5,771,000.00 B-3 9,879.99 0.00 3,463,000.00 B-4 4,114.05 0.00 1,442,000.00 B-5 3,292.38 0.00 1,154,000.00 B-6 7,419.26 0.00 2,600,498.71 X-1 81,847.55 0.00 91,622,711.69 X-2 476,345.54 0.00 440,681,834.90 - ---------------------------------------------------------- Totals 1,573,111.26 0.00 - ----------------------------------------------------------
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
- ---------------------------------------------------------------------------------------------------------------------------------- Beginning Payment of Non- Current Certificate/ Current Accrued Unpaid Current Supported Class Original Face Certificate Notional Balance Interest Interest Interest Interest Realized (5) Amount Rate Shortfall Shortfall Shortfall Loss (6) - ---------------------------------------------------------------------------------------------------------------------------------- A 554,686,000.00 2.17000% 953.46084839 1.72417503 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.54181% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,080,000.00 2.58000% 1000.00000000 2.15000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,771,000.00 3.42362% 1000.00000000 2.85301334 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,463,000.00 3.42362% 1000.00000000 2.85301473 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,442,000.00 3.42362% 1000.00000000 2.85301664 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,154,000.00 3.42362% 1000.00000000 2.85301560 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,600,498.71 3.42362% 1000.00000000 2.85301430 0.00000000 0.00000000 0.00000000 0.00000000 X-1 50.00 1.06418% 1845841.84260000 1636.91800000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 50.00 1.28549% 8893185.84040000 9526.71900000 0.00000000 0.00000000 0.00000000 0.00000000 - ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------- Remaining Ending Certificate/ Unpaid Notational Balance Class Total Interest Interest (5) Distribution Shortfall - ----------------------------------------------------------- A 1.72417503 0.00000000 945.08342844 A-R 0.00000000 0.00000000 0.00000000 B-1 2.15000000 0.00000000 1000.00000000 B-2 2.85301334 0.00000000 1000.00000000 B-3 2.85301473 0.00000000 1000.00000000 B-4 2.85301664 0.00000000 1000.00000000 B-5 2.85301560 0.00000000 1000.00000000 B-6 2.85301430 0.00000000 1000.00000000 X-1 1636.95100000 0.00000000 1832454.23380000 X-2 9526.91080000 0.00000000 8813636.69800000 - -----------------------------------------------------------
(5) Per $1 denomination (6) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. CERTIFICATEHOLDER ACCOUNT STATEMENT
- ---------------------------------------------------------------------------------------------- CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 6,397,044.39 Liquidations, Insurance Proceeds, Reserve Funds 11.24 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 --------------- Total Deposits 6,397,055.63 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 177,106.81 Payment of Interest and Principal 6,219,948.82 --------------- Total Withdrawals (Pool Distribution Amount) 6,397,055.63 Ending Balance 0.00 =============== - ----------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------ PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 ------------ Non-Supported Prepayment Curtailment Interest Shortfall 0.00 ============ - ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------ SERVICING FEES Gross Servicing Fee 172,511.97 Master Servicing Fee 4,594.84 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------ Net Servicing Fee 177,106.81 ============ - ------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------- Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ----------------------------------------------------------------------------------- Basis Risk Reserve Fund - X-1 1,512.85 1.65 1.70 1,512.90 Basis Risk Reserve Fund - X-2 8,487.15 9.59 9.54 8,487.10 - -----------------------------------------------------------------------------------
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
- -------------------------------------------------------------------------------------------------------------- DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- -------- -------- -------- 0 0.00 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% - -------------------------------------------------------------------------------------------------------------- Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties
- --------------------------------------------------------------------- REO TOTAL - --------------------------------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- -------- 0 0.00 0 0.00 No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% - --------------------------------------------------------------------- 0.00 Periodic Advance 0.00
- ------------------------------------------------------------------------------------ Original $ Original % Current $ Current % Bankruptcy 100,261.00 0.01737033% 100,261.00 0.01818359% Fraud 17,315,901.00 3.00000001% 17,315,901.00 3.14045520% Special Hazard 5,771,967.00 1.00000000% 5,513,818.83 1.00000000% Limit of subordinate's exposure to certain types of losses - ------------------------------------------------------------------------------------
DELINQUENCY STATUS BY GROUP
ONE-MONTH LIBOR - -------------------------------------------------------------------------------------------------------------- DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- -------- -------- -------- 0 0.00 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% - --------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------- REO TOTAL - ---------------------------------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- -------- 0 0.00 0 0.00 No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% - ----------------------------------------------------------------------
SIX-MONTH LIBOR - -------------------------------------------------------------------------------------------------------------- DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- -------- -------- -------- 0 0.00 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% - --------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------- REO TOTAL - ----------------------------------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- -------- 0 0.00 0 0.00 No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% - ----------------------------------------------------------------------
- ------------------------------------------------------------------- COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 3.809063% Weighted Average Net Coupon 3.433616% Weighted Average Pass-Through Rate 3.423616% Weighted Average Maturity (Stepdown Calculation) 354 Beginning Scheduled Collateral Loan Count 1,513 Number of Loans Paid in Full 12 Ending Scheduled Collateral Loan Count 1,501 Beginning Scheduled Collateral Balance 551,381,882.86 Ending Scheduled Collateral Balance 546,735,045.30 Ending Actual Collateral Balance at 31-Oct-2002 546,731,486.49 Monthly P&I Constant 1,751,963.73 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1,756.88 Unscheduled Principal 4,645,080.68 - -------------------------------------------------------------------
- ------------------------------------------------------------------ MISCELLANEOUS REPORTING Pro Rata Senior Percent 95.917440% Senior Percent 100.000000% Senior Prepay Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepay Percent 0.000000% Basis RiskReserve Fund Income X-1 1.70 Basis Risk Reserve Fund Income X-2 9.54 - ------------------------------------------------------------------
- ------------------------------------------------------------------------------------------- GROUP ONE MONTH LIBOR SIX MONTH LIBOR TOTAL Collateral Description Monthly 6 Month Arm Mixed Fixed & Arm Weighted Average Coupon Rate 3.625346 3.847194 3.809063 Weighted Average Net Rate 3.250346 3.471655 3.433616 Pass-Through Rate 3.240346 3.461655 3.423616 Weighted Average Maturity 314 315 354 Record Date 10/31/2002 10/31/2002 10/31/2002 Principal and Interest Constant 286,319.06 1,465,644.67 1,751,963.73 Beginning Loan Count 238 1,275 1,513 Loans Paid in Full 2 10 12 Ending Loan Count 236 1,265 1,501 Beginning Scheduled Balance 94,772,430.12 456,609,452.74 551,381,882.86 Ending Scheduled Balance 94,106,555.63 452,628,489.67 546,735,045.30 Scheduled Principal 0.00 1,756.88 1,756.88 Unscheduled Principal 665,874.49 3,979,206.19 4,645,080.68 Scheduled Interest 286,319.06 1,463,887.79 1,750,206.85 Servicing Fee 29,616.39 142,895.58 172,511.97 Master Servicing Fee 789.76 3,805.08 4,594.84 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 255,912.91 1,317,187.13 1,573,100.04 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------