Monthly Payment Date Statement relating to the distribution to Bondholders, May 20, 2002

Contract Categories: Business Operations - Distribution Agreements
EX-10.1 3 f83257exv10w1.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: May 20, 2002 Bear, Stearns & Co. Inc. Record Date: April 30, 2002 April 26, 2002 - -----------------------------------------------------------------------------------------------------------------------------------
SEQUOIA MORTGAGE TRUST 6 COLLATERALIZED MORTGAGE BONDS BOND PAYMENT REPORT FOR MAY 20, 2002 DISTRIBUTION Distribution in Dollars - Current Period
- --------------------------------------------------------------------------------------------------------------- Prior Class Original Principal Total Class Type Face Value Balance Interest Principal Distribution - --------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4)=(2)+(3) - --------------------------------------------------------------------------------------------------------------- LT-A 496,378,000.00 496,378,000.00 1,359,410.11 5,599,933.64 6,959,343.75 LT-A2 100.00 100.00 0.27 100.00 100.27 LT-X 100.00 100.00 - 100.00 100.00 LT-B-1 5,915,000.00 5,915,000.00 16,199.16 - 16,199.16 LT-B-2 5,143,000.00 5,143,000.00 14,084.92 - 14,084.92 - --------------------------------------------------------------------------------------------------------------- LT-B-3 2,315,000.00 2,315,000.00 6,339.99 - 6,339.99 LT-B-4 1,534,000.00 1,534,000.00 4,201.10 - 4,201.10 LT-B-5 1,028,000.00 1,028,000.00 2,815.34 - 2,815.34 LT-B-6 2,068,996.83 2,068,996.83 5,666.28 - 5,666.28 LT-R - - - - - - --------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------- Total 514,382,196.83 514,382,196.83 1,408,717.17 5,600,133.64 7,008,850.81 - --------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------ Current Realized Deferred Principal Class Losses Interest Balance - ------------------------------------------------------------ (5) (6) (7)=(1)-(3)-(5)+(6) - ------------------------------------------------------------ LT-A - - 490,778,066.36 LT-A2 - - - LT-X - - - LT-B-1 - - 5,915,000.00 LT-B-2 - - 5,143,000.00 - ------------------------------------------------------------ LT-B-3 - - 2,315,000.00 LT-B-4 - - 1,534,000.00 LT-B-5 - - 1,028,000.00 LT-B-6 - - 2,068,996.83 LT-R - - - - ------------------------------------------------------------ - ------------------------------------------------------------ Total - - 508,782,063.19 - ------------------------------------------------------------
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face Orig. Principal Prior Period Period (with Notional) Principal Class Starting Ending Method Cusip Balance Balance Interest - --------------------------------------------------------------------------------------------------------------- (1) (2) - --------------------------------------------------------------------------------------------------------------- LT-A A-30/360 496,378,000.00 1,000.000000 2.738659 LT-A2 A-30/360 100.00 1,000.000000 2.700000 LT-X A-30/360 100.00 1,000.000000 - LT-B-1 A-30/360 5,915,000.00 1,000.000000 2.738658 LT-B-2 A-30/360 5,143,000.00 1,000.000000 2.738658 - --------------------------------------------------------------------------------------------------------------- LT-B-3 A-30/360 2,315,000.00 1,000.000000 2.738657 LT-B-4 A-30/360 1,534,000.00 1,000.000000 2.738657 LT-B-5 A-30/360 1,028,000.00 1,000.000000 2.738658 LT-B-6 A-30/360 2,068,996.83 1,000.000000 2.738661 LT-R A-30/360 - - - - --------------------------------------------------------------------------------------------------------------- Current Total Principal Class Principal Distribution Balance - ----------------------------------------------------------- (3) (4)=(2)+(3) (5) - ----------------------------------------------------------- LT-A 11.281591 14.020250 988.718409 LT-A2 1,000.000000 1,002.700000 - LT-X 1,000.000000 1,000.000000 - LT-B-1 - 2.738658 1,000.000000 LT-B-2 - 2.738658 1,000.000000 - ----------------------------------------------------------- LT-B-3 - 2.738657 1,000.000000 LT-B-4 - 2.738657 1,000.000000 LT-B-5 - 2.738658 1,000.000000 LT-B-6 - 2.738661 1,000.000000 LT-R - - - - -----------------------------------------------------------
Distribution in Dollars - to Date
- --------------------------------------------------------------------------------------------------------------- Original Unscheduled Scheduled Total Total Class Face Value Interest Principal Principal Principal Distribution - --------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5) - --------------------------------------------------------------------------------------------------------------- LT-A 496,378,000.00 1,359,410.11 5,599,933.64 - 5,599,933.64 6,959,343.75 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 16,199.16 - - - 16,199.16 LT-B-2 5,143,000.00 14,084.92 - - - 14,084.92 LT-B-3 2,315,000.00 6,339.99 - - - 6,339.99 LT-B-4 1,534,000.00 4,201.10 - - - 4,201.10 LT-B-5 1,028,000.00 2,815.34 - - - 2,815.34 LT-B-6 2,068,996.83 5,666.28 - - - 5,666.28 LT-R - - - - - - - --------------------------------------------------------------------------------------------------------------- Total 514,382,196.83 1,408,717.17 5,600,133.64 - 5,600,133.64 7,008,850.81 - --------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------- Current Realized Deferred Principal Class Losses Interest Balance - --------------------------------------------------------------- (7) (8) (9)=(1)-(5)-(7)+(8) - --------------------------------------------------------------- LT-A - - 490,778,066.36 LT-A2 - - q- LT-X - - - LT-B-1 - - 5,915,000.00 LT-B-2 - - 5,143,000.00 LT-B-3 - - 2,315,000.00 LT-B-4 - - 1,534,000.00 LT-B-5 - - 1,028,000.00 LT-B-6 - - 2,068,996.83 LT-R - - - - --------------------------------------------------------------- Total - - 508,782,063.19 - ---------------------------------------------------------------
Interest Detail
- --------------------------------------------------------------------------------------------------------------- Pass- Prior Principal Non- Prior Unscheduled Through (with Notional) Accrued Supported Unpaid Interest Class Rate Balance Interest Interest SF Interest Adjustments - --------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) - --------------------------------------------------------------------------------------------------------------- LT-A 3.28639% 496,378,000.00 1,359,410.11 - - - LT-A2 3.28639% 100.00 0.27 - - - LT-X 100.00 - - - - LT-B-1 3.28639% 5,915,000.00 16,199.16 - - - LT-B-2 3.28639% 5,143,000.00 14,084.92 - - - - --------------------------------------------------------------------------------------------------------------- LT-B-3 3.28639% 2,315,000.00 6,339.99 - - - LT-B-4 3.28639% 1,534,000.00 4,201.10 - - - LT-B-5 3.28639% 1,028,000.00 2,815.34 - - - LT-B-6 3.28639% 2,068,996.83 5,666.28 - - - LT-R - - - - - - --------------------------------------------------------------------------------------------------------------- Total 514,382,196.83 1,408,717.17 - - - - --------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------- Paid or Current Optimal Deferred Unpaid Class Interest Interest Interest - --------------------------------------------------------------- (5)=(1)- (2)+(3)+(4) (6) (7)=(5)-(6) - --------------------------------------------------------------- LT-A 1,359,410.11 1,359,410.11 - LT-A2 0.27 0.27 - LT-X - - - LT-B-1 16,199.16 16,199.16 - LT-B-2 14,084.92 14,084.92 - - --------------------------------------------------------------- LT-B-3 6,339.99 6,339.99 - LT-B-4 4,201.10 4,201.10 - LT-B-5 2,815.34 2,815.34 - LT-B-6 5,666.28 5,666.28 - LT-R - - - - --------------------------------------------------------------- Total 1,408,717.17 1,408,717.17 - - ---------------------------------------------------------------
Distribution in Dollars - Current Period
- ----------------------------------------------------------------------------------------------------------------- Prior Class Original Principal Total Class Type Face Value Balance Interest Principal Distribution - ----------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4)=(2)+(3) - ----------------------------------------------------------------------------------------------------------------- A FLT 496,378,000.00 496,378,000.00 691,344.25 5,599,933.64 6,291,277.89 X CSTR 100.00 100.00 682,817.65 100.00 682,917.65 A-R R 100.00 100.00 0.27 100.00 100.27 B-1 SUB 5,915,000.00 5,915,000.00 9,674.31 - 9,674.31 B-2 SUB 5,143,000.00 5,143,000.00 8,411.66 - 8,411.66 - ----------------------------------------------------------------------------------------------------------------- B-3 SUB 2,315,000.00 2,315,000.00 3,786.31 - 3,786.31 B-4 SUB 1,534,000.00 1,534,000.00 4,201.10 - 4,201.10 B-5 SUB 1,028,000.00 1,028,000.00 2,815.34 - 2,815.34 B-6 SUB 2,068,996.00 2,068,996.00 5,666.27 - 5,666.27 - ----------------------------------------------------------------------------------------------------------------- Total 514,382,196.00 514,382,196.00 1,408,717.16 5,600,133.64 7,008,850.80 - ----------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------- Current Realized Deferred Principal Class Losses Interest Balance - ------------------------------------------------------------- (5) (6) (7)=(1)-(3)-(5)+(6) - ------------------------------------------------------------- A - - 490,778,066.36 X - - - A-R - - - B-1 - - 5,915,000.00 B-2 - - 5,143,000.00 - ------------------------------------------------------------- B-3 - - 2,315,000.00 B-4 - - 1,534,000.00 B-5 - - 1,028,000.00 B-6 - - 2,068,996.00 - ------------------------------------------------------------- Total - - 508,782,062.36 - -------------------------------------------------------------
Definitive Bond Record Date: 4/30/02
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face - ----------------------------------------------------------------------------------------------------------------- Orig. Principal Prior Period Period (with Notional) Principal Class Starting Ending Method Cusip Balance Balance Interest - ----------------------------------------------------------------------------------------------------------------- (1) (2) - ----------------------------------------------------------------------------------------------------------------- A 04/26/02 05/18/02 A-Act/360 81743XAA7 496,378,000.00 1,000.000000 1.392778 X A-30/360 SQ0201UPX 100.00 1,000.000000 6,828,176.500000 A-R A-30/360 81743XAC3 100.00 1,000.000000 2.700000 B-1 04/26/02 05/18/02 A-Act/360 81743XAB5 5,915,000.00 1,000.000000 1.635555 B-2 04/26/02 05/18/02 A-Act/360 81743XAD1 5,143,000.00 1,000.000000 1.635555 - ----------------------------------------------------------------------------------------------------------------- B-3 04/26/02 05/18/02 A-Act/360 81743XAE9 2,315,000.00 1,000.000000 1.635555 B-4 A-30/360 SQ0201UB4 1,534,000.00 1,000.000000 2.738657 B-5 A-30/360 SQ0201UB5 1,028,000.00 1,000.000000 2.738658 B-6 A-30/360 SQ0201UB6 2,068,996.00 1,000.000000 2.738657 - ----------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------- Current Total Principal Class Principal Distribution Balance - --------------------------------------------------------------- (3) (4)=(2)+(3) (5) - --------------------------------------------------------------- A 11.281591 12.674369 988.718409 X 1,000.000000 6,829,176.500000 - A-R 1,000.000000 1,002.700000 - B-1 - 1.635555 1,000.000000 B-2 - 1.635555 1,000.000000 - --------------------------------------------------------------- B-3 - 1.635555 1,000.000000 B-4 - 2.738657 1,000.000000 B-5 - 2.738658 1,000.000000 B-6 - 2.738657 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
- ----------------------------------------------------------------------------------------------------------------- Original Unscheduled Scheduled Total Total Class Face Value Interest Principal Principal Principal Distribution - ----------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5) - ----------------------------------------------------------------------------------------------------------------- A 496,378,000.00 691,344.25 5,599,933.64 - 5,599,933.64 6,291,277.89 X 100.00 682,817.65 100.00 - 100.00 682,917.65 A-R 100.00 0.27 100.00 - 100.00 100.27 B-1 5,915,000.00 9,674.31 - - - 9,674.31 B-2 5,143,000.00 8,411.66 - - - 8,411.66 B-3 2,315,000.00 3,786.31 - - - 3,786.31 B-4 1,534,000.00 4,201.10 - - - 4,201.10 B-5 1,028,000.00 2,815.34 - - - 2,815.34 B-6 2,068,996.00 5,666.27 - - - 5,666.27 - ----------------------------------------------------------------------------------------------------------------- Total 514,382,196.00 1,408,717.16 5,600,133.64 - 5,600,133.64 7,008,850.80 - ----------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------- Current Realized Deferred Principal Class Losses Interest Balance - -------------------------------------------------------------- (7) (8) (9)=(1)-(5)-(7)+(8) - -------------------------------------------------------------- A - - 490,778,066.36 X - - - A-R - - - B-1 - - 5,915,000.00 B-2 - - 5,143,000.00 B-3 - - 2,315,000.00 B-4 - - 1,534,000.00 B-5 - - 1,028,000.00 B-6 - - 2,068,996.00 - -------------------------------------------------------------- Total - - 508,782,062.36 - --------------------------------------------------------------
Interest Detail
- --------------------------------------------------------------------------------------------------------------- Pass- Prior Principal Non- Prior Unscheduled Through (with Notional) Accrued Supported Unpaid Interest Class Rate Balance Interest Interest SF Interest Adjustments - --------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) - --------------------------------------------------------------------------------------------------------------- A 2.18000% 496,378,000.00 691,344.25 - - - X 1.60741% 100.00 682,817.65 - - - A-R 3.28639% 100.00 0.27 - - - Q 2.56000% 5,915,000.00 9,674.31 - - - B-2 2.56000% 5,143,000.00 8,411.66 - - - - --------------------------------------------------------------------------------------------------------------- Q 2.56000% 2,315,000.00 3,786.31 - - - B-4 3.28639% 1,534,000.00 4,201.10 - - - B-5 3.28639% 1,028,000.00 2,815.34 - - - B-6 3.28639% 2,068,996.00 5,666.27 - - - - --------------------------------------------------------------------------------------------------------------- Total 514,382,196.00 1,408,717.16 - - - - --------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------- Paid or Current Optimal Deferred Unpaid Class Interest Interest Interest - --------------------------------------------------------------- (5)=(1)- (2)+(3)+(4) (6) (7)=(5)-(6) - --------------------------------------------------------------- A 691,344.25 691,344.25 - X 682,817.65 682,817.65 - A-R 0.27 0.27 - Q 9,674.31 9,674.31 - B-2 8,411.66 8,411.66 - - --------------------------------------------------------------- Q 3,786.31 3,786.31 - B-4 4,201.10 4,201.10 - B-5 2,815.34 2,815.34 - B-6 5,666.27 5,666.27 - - --------------------------------------------------------------- Total 1,408,717.16 1,408,717.16 - - --------------------------- -----------------------------------
COLLECTION ACCOUNT REPORT
SUMMARY TOTAL - -------------------------------------------------------------------------------- Principal Collections 5,600,133.64 Principal Withdrawals 0.00 Principal Other Accounts 0.00 TOTAL PRINCIPAL 5,600,133.64 Interest Collected 1,428,705.21 Interest Withdrawals 0.00 Interest Other Accounts 0.00 Fees (19,988.04) TOTAL INTEREST 1,408,717.17 TOTAL AVAILABLE TO CERTIFICATEHOLDERS 7,008,850.81 - --------------------------------------------------------------------------------
PRINCIPAL - COLLECTIONS TOTAL - -------------------------------------------------------------------------------- Scheduled Principal 0.00 Curtailments 1,447,123.76 Prepayments In Full 4,153,009.88 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 5,600,133.64 - --------------------------------------------------------------------------------
PRINCIPAL - WITHDRAWALS TOTAL - -------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - --------------------------------------------------------------------------------
PRINCIPAL - OTHER ACCOUNTS TOTAL - -------------------------------------------------------------------------------- Amounts remaining in Pre-Funding Account 0.00 - --------------------------------------------------------------------------------
INTEREST - COLLECTIONS TOTAL - -------------------------------------------------------------------------------- Scheduled Interest 1,572,188.15 Repurchased Interest 0.00 Substitution Interest Amount 0.00 Liquidation Interest 0.00 Insurance Interest 0.00 Other Interest 0.00 Delinquent Interest (1,397,734.03) Interest Advanced 1,254,251.09 Prepayment Interest Shortfalls (10,810.09) Compensating Interest 10,810.09 Civil Relief Act Shortfalls 0.00 TOTAL INTEREST COLLECTED 1,428,705.21 - --------------------------------------------------------------------------------
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 0.00 TOTAL INTEREST OTHER ACCOUNTS 0.00 - --------------------------------------------------------------------------------
INTEREST - FEES TOTAL - -------------------------------------------------------------------------------- Current Servicing Fees 18,273.43 Trustee Fee 1,714.61 TOTAL FEES 19,988.04 - --------------------------------------------------------------------------------
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 0.00 Ending Balance 10,000.00 - -----------------------------------------------------------------------------------
INSURANCE TOTAL - ----------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - -----------------------------------------------------------------------------------
STRUCTURAL FEATURES TOTAL - ----------------------------------------------------------------------------------- Pro Rata Senior Percentage 96.499879% 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 - Prefunding - Scheduled Paid Offs - Full Voluntary Prepayments (5) Repurchases - Liquidations - - ------------------------------------------------------------------------------ Current 1,249 PRINCIPAL BALANCE: Original 514,382,196.83 Prior - Prefunding - Scheduled Principal - Partial and Full Voluntary Prepayments (5,600,133.64) Repurchases - Liquidations - - ------------------------------------------------------------------------------ Current 508,782,063.19 - ------------------------------------------------------------------------------
PREFUNDING TOTAL - -------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - --------------------------------------------------------------------------------
CHARACTERISTICS TOTAL - -------------------------------------------------------------------------------- Weighted Average Coupon Original 3.667751% Weighted Average Coupon Prior Weighted Average Coupon Current 3.667751% - -------------------------------------------------------------------------------- Weighted Average Months to Maturity Original 297 Weighted Average Months to Maturity Prior - Weighted Average Months to Maturity Current 297 - -------------------------------------------------------------------------------- Weighted Avg Remaining Amortization Term Original 296 Weighted Avg Remaining Amortization Term Prior - Weighted Avg Remaining Amortization Term Current 296 - -------------------------------------------------------------------------------- Weighted Average Seasoning Original 3.66 Weighted Average Seasoning Prior - Weighted Average Seasoning Current 3.66 - --------------------------------------------------------------------------------
Note: Original information refers to deal issue.
ARM CHARACTERISTICS TOTAL - -------------------------------------------------------------------------------- Weighted Average Margin Original 1.652% Weighted Average Margin Prior 0.000% Weighted Average Margin Current 1.652% - -------------------------------------------------------------------------------- Weighted Average Max Rate Original 12.000% Weighted Average Max Rate Prior 0.000% Weighted Average Max Rate Current 12.000% - -------------------------------------------------------------------------------- Weighted Average Min Rate Original 1.652% Weighted Average Min Rate Prior 0.000% Weighted Average Min Rate Current 1.652% - -------------------------------------------------------------------------------- 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 18,273.43 Delinquent Servicing Fees 143,482.94 TOTAL SERVICING FEES 161,756.37 Total Servicing Fees 161,756.37 Compensating Interest (10,810.09) Delinquent Servicing Fees (143,482.94) COLLECTED SERVICING FEES 7,463.34 Prepayment Interest Shortfall 10,810.09 Total Advanced Interest 1,254,251.09 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 1,664,884.00 - - 1,664,884.00 % Balance 0.33% 0.00% 0.00% 0.33% # Loans 3 - - 3 % # Loans 0.24% 0.00% 0.00% 0.24% - ------------------------------------------------------------------------------------------------------------------------------ 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 - 1,664,884.00 - - 1,664,884.00 % Balance 0.00% 0.33% 0.00% 0.00% 0.33% # Loans - 3 - - 3 % # Loans 0.00% 0.24% 0.00% 0.00% 0.24% - ------------------------------------------------------------------------------------------------------------------------------
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 5 Number of Repurchased Loans - ---------------------------------------------------------------------------- Total Number of Loans Prepaid in Full 5 Paid in Full Balance 4,153,009.88 Repurchased Loans Balance - Curtailments Amount 1,447,123.76 ---------------------------------------------------------------------------- Total Prepayment Amount 5,600,133.64 CUMULATIVE Number of Paid in Full Loans 5 Number of Repurchased Loans - ---------------------------------------------------------------------------- Total Number of Loans Prepaid in Full 5 Paid in Full Balance 4,153,009.88 Repurchased Loans Balance - Curtailments Amount 1,447,123.76 ---------------------------------------------------------------------------- Total Prepayment Amount 5,600,133.64 SPACE INTENTIONALLY LEFT BLANK - ---------------------------------------------------------------------------------
VOLUNTARY PREPAYMENT RATES TOTAL - -------------------------------------------------------------------------------- SMM 1.09% 3 Months Avg SMM 12 Months Avg SMM Avg SMM Since Cut-off 1.09% CPR 12.31% 3 Months Avg CPR 12 Months Avg CPR Avg CPR Since Cut-off 12.31% PSA 1681.69% 3 Months Avg PSA Approximation 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation 1681.69% - -------------------------------------------------------------------------------
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)(CARET)12) PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)](CARET)(1/months in period n,m) Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)(CARET)12) Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m) Weighted Average Seasoning (WAS) Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases. Dates correspond to distribution dates. PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
SUMMARY LOAN GROUP Total Loan Count = 5 Loan Group 1 = MSDW Group Total Original Principal Balance = 4,154,000.00 Total Prepayment Amount = 4,153,009.88
- ---------------------------------------------------------------------------------------------------------------------------------- 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 - ---------------------------------------------------------------------------------------------------------------------------------- 390436395 1 775,000.00 775,000.00 Apr-25-02 3.750% CA - 55.36% Paid Off - 300 Nov-16-01 390442008 1 140,000.00 139,340.00 Apr-01-02 4.000% CA - 72.54% Paid Off - 300 Oct-31-01 390442091 1 1,365,000.00 1,365,000.00 Apr-01-02 4.125% CA - 70.00% Paid Off - 300 Nov-13-01 390446749 1 1,662,000.00 1,661,669.88 Apr-01-02 3.625% CA - 72.26% Paid Off - 300 Jan-28-02 391440312 1 212,000.00 212,000.00 Apr-24-02 3.625% NC - 76.26% Paid Off - 300 Nov-26-01
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 12 Months Avg MDR Avg MDR Since Cut-off 0.00% CDR 0.00% 3 Months Avg CDR 12 Months Avg CDR Avg CDR Since Cut-off 0.00% SDA 0.00% 3 Months Avg SDA Approximation 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)(CARET)12) 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)(caret)12) average sda approximation over period between the nth month and mth month avgcdrn,m/if(avg wasn,m<61,min(30,avgwasn,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 - --------------------------------------------------------------------------------