Sequoia Mortgage Trust 6 Collateralized Mortgage Bonds September 2002 Bond Payment Report (Redwood Trust, Deutsche Bank, Cendant Mortgage, Greenwich Capital, Bear Stearns)

Summary

This report details the September 19, 2002 distribution of payments for the Sequoia Mortgage Trust 6 Collateralized Mortgage Bonds. The involved parties include Redwood Trust (seller), Deutsche Bank (administrator), Cendant Mortgage Corporation (servicer), and underwriters Greenwich Capital Markets and Bear, Stearns & Co. The document outlines principal and interest payments, outstanding balances, and payment calculations for each bond class. It serves as a financial statement of bond performance and payment allocation for the specified period.

EX-10.1 3 f84666exv10w1.txt EXHIBIT 10.1 EXHIBIT 10.1 CONTACTS - -------------------------------------------------------------- Administrator: Kumar X. Khambhaita Direct Phone No: (714) 247-6327 Address: Deutsche Bank 1761 E. St. Andrew Place Santa Ana, CA 92705 Web Site: http://www-apps.gis.deutsche-bank.com/invr Factor Information: (800) 735-7777 Main Phone No: (714) 247-6000 - --------------------------------------------------------------

ISSUANCE INFORMATION - ------------------------------------------------------------------------------------------------------------------ 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 - ------------------------------------------------------------------------------------------------------------------
SEQUOIA MORTGAGE TRUST 6 COLLATERALIZED MORTGAGE BONDS BOND PAYMENT REPORT FOR SEPTEMBER 19, 2002 DISTRIBUTION Distribution in Dollars - Current Period
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) - ------------------------------------------------------------------------------------------------------------------------------------ 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 - ------------------------------------------------------------------------------------------------------------------------------------

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) - ------------------------------------------------------------------------------------------------------------------------------------ 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 -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------

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) - ---------------------------------------------------------------------------------------------------------------------------------- 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 - -----------------------------------------------------------------------------------------------------------------------------------

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) - ------------------------------------------------------------------------------------------------------------------------------------ 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 -- - ------------------------------------------------------------------------------------------------------------------------------------

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) - ------------------------------------------------------------------------------------------------------------------------------------ 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

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) - ------------------------------------------------------------------------------------------------------------------------------------ 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.

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) - ----------------------------------------------------------------------------------------------------------------------------------- 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 - -----------------------------------------------------------------------------------------------------------------------------------

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) - ----------------------------------------------------------------------------------------------------------------------------------- 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 -- - -----------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------- COLLECTION ACCOUNT REPORT - ------------------------------------------------------------------------------- SUMMARY TOTAL - ------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------
INTEREST - COLLECTIONS TOTAL - ------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- CREDIT ENHANCEMENT REPORT - -------------------------------------------------------------------------------- ACCOUNTS TOTAL - -------------------------------------------------------------------------------- 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% - --------------------------------------------------------------------------------
- ------------------------------------------------------------------------------- COLLATERAL REPORT - ------------------------------------------------------------------------------- COLLATERAL TOTAL - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------
ARM CHARACTERISTICS TOTAL - -------------------------------------------------------------------------------- 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 - --------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- DELINQUENCY REPORT - TOTAL - --------------------------------------------------------------------------------
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL - ------------------------------------------------------------------------------------------------------------------------------------ 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+

- ------------------------------------------------------------------------------------------------------------------------------------ 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 - ------------------------------------------------------------------------------------------------------------------------------------ ~~SPACE INTENTIONALLY LEFT BLANK - ------------------------------------------------------------------------------------------------------------------------------------~~

- ------------------------------------------------------------------------------------------------------------------------------------ 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 - ------------------------------------------------------------------------------------------------------------------------------------ ~~SPACE INTENTIONALLY LEFT BLANK - ------------------------------------------------------------------------------------------------------------------------------------~~
- -------------------------------------------------------------------------------- PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS - -------------------------------------------------------------------------------- VOLUNTARY PREPAYMENTS TOTAL - -------------------------------------------------------------------------------- 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% - --------------------------------------------------------------------------------
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. - --------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------ 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 - ------------------------------------------------------------------------------------------------------------------------------------ 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 - ------------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- REALIZED LOSS REPORT - COLLATERAL - -------------------------------------------------------------------------------- COLLATERAL REALIZED LOSSES TOTAL - -------------------------------------------------------------------------------- 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 - --------------------------------------------------------------------------------
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. - --------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------ 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 - ------------------------------------------------------------------------------------------------------------------------------------ ~~SPACE INTENTIONALLY LEFT BLANK - ------------------------------------------------------------------------------------------------------------------------------------~~
- -------------------------------------------------------------------------------- TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT - -------------------------------------------------------------------------------- TRIGGER EVENTS TOTAL - -------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - -------------------------------------------------------------------------------- ADJUSTABLE RATE CERTIFICATE INFORMATION TOTAL - -------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION TOTAL - -------------------------------------------------------------------------------- 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 - --------------------------------------------------------------------------------