<PAGE> 1
EXHIBIT 10.1
Sequoia Mortgage Trust Contact: Customer Service-CTS Link
Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-July-2000 7485 New Horizon Way
Distribution Date: 22-Aug-2000 Frederick, MD 21703
Telephone: (301) 815-6600
Facsimile: (301) 846-8152
EXHIBIT 10.1
SMT Series 2000-4
Certificateholder Distribution Summary
<TABLE>
<CAPTION>
===========================================================================================
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
===========================================================================================
<S> <C> <C> <C> <C> <C>
A 81743TAA6 SEQ 6.99000% 355,973,286.87 2,073,544.40
B SMT00004B SUB 7.88000% 3,809,289.81 25,014.34
C SMT00004C IO 0.00000% 0.00 252,321.54
R-UT SMT00004R RES 0.00000% 0.00 0.00
R-LT SMT0004RL RES 0.00000% 0.00 0.00
===========================================================================================
Totals 359,782,576.68 2,350,880.28
===========================================================================================
</TABLE>
<TABLE>
<CAPTION>
===========================================================================================
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
===========================================================================================
<S> <C> <C> <C> <C> <C>
A 9,401,857.92 0.00 346,571,428.95 11,475,402.32 0.00
B 0.00 0.00 3,809,289.81 25,014.34 0.00
C 0.00 0.00 0.00 252,321.54 0.00
R-UT 0.00 0.00 0.00 0.00 0.00
R-LT 0.00 0.00 0.00 0.00 0.00
===========================================================================================
Totals 9,401,857.92 0.00 350,380,718.76 11,752,738.20 0.00
===========================================================================================
</TABLE>
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee
24-August-2000
<PAGE> 2
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
SMT Series 2000-4
Principal Distribution Statement
<TABLE>
<CAPTION>
=========================================================================================================
Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal
Class Amount Balance Distribution Distribution Accretion
=========================================================================================================
<S> <C> <C> <C> <C> <C>
A 377,119,000.00 355,973,286.87 0.00 9,401,857.92 0.00
B 3,809,982.43 3,809,289.81 0.00 0.00 0.00
C 0.00 0.00 0.00 0.00 0.00
R-UT 0.00 0.00 0.00 0.00 0.00
R-LT 0.00 0.00 0.00 0.00 0.00
=========================================================================================================
Totals 380,928,982.43 359,782,576.68 0.00 9,401,857.92 0.00
=========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
=========================================================================================================
Total Ending Ending
Realized Principal Certificate Certificate Total Principal
Class Loss(1) Reduction Balance Percentage Distribution
=========================================================================================================
<S> <C> <C> <C> <C> <C>
A 0.00 9,401,857.92 346,571,428.95 0.91899753 9,401,857.92
B 0.00 0.00 3,809,289.81 0.99981821 0.00
C 0.00 0.00 0.00 0.00000000 0.00
R-UT 0.00 0.00 0.00 0.00000000 0.00
R-LT 0.00 0.00 0.00 0.00000000 0.00
=========================================================================================================
Totals 0.00 9,401,857.92 350,380,718.76 0.91980588 9,401,857.92
=========================================================================================================
</TABLE>
(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.
<PAGE> 3
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
SMT Series 2000-4
Principal Distribution Factors Statement
<TABLE>
<CAPTION>
========================================================================================================
Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal
Class(2) Amount Balance Distribution Distribution Accretion
========================================================================================================
<S> <C> <C> <C> <C> <C>
A 377,119,000.00 943.92827428 0.00000000 24.93074579 0.00000000
B 3,809,982.43 999.81820914 0.00000000 0.00000000 0.00000000
C 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-UT 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-LT 0.00 0.00000000 0.00000000 0.00000000 0.00000000
========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
========================================================================================================
Total Ending Ending
Realized Principal Certificate Certificate Total Principal
Class(2) Loss(3) Reduction Balance Percentage Distribution
========================================================================================================
<S> <C> <C> <C> <C> <C>
A 0.00000000 24.93074579 918.99752850 0.91899753 24.93074579
B 0.00000000 0.00000000 999.81820914 0.99981821 0.00000000
C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-UT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-LT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
========================================================================================================
</TABLE>
(2) All Denominations Are Per $1,000.
(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.
<PAGE> 4
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
SMT Series 2000-4
Interest Distribution Statement
<TABLE>
<CAPTION>
==========================================================================================================
Payment of
Current Beginning Current Unpaid
Original Face Certificate Certificate/ Accrued Interest
Class Amount Rate Notional Balance Interest Shortfall
==========================================================================================================
<S> <C> <C> <C> <C> <C>
A 377,119,000.00 6.99000% 355,973,286.87 2,073,544.40 0.00
B 3,809,982.43 7.88000% 3,809,289.81 25,014.34 0.00
C 0.00 0.00000% 0.00 0.00 0.00
R-UT 0.00 0.00000% 0.00 0.00 0.00
R-LT 0.00 0.00000% 0.00 0.00 0.00
==========================================================================================================
Totals 380,928,982.43 2,098,558.74 0.00
==========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
==========================================================================================================
Remaining
Current Non-Supported Unpaid Ending
Interest Interest Realized Total Interest Interest Certificate/
Class Shortfall Shortfall Losses(4) Distribution Shortfall Notional Balance
==========================================================================================================
<S> <C> <C> <C> <C> <C> <C>
A 0.00 0.00 0.00 2,073,544.40 0.00 346,571,428.95
B 0.00 0.00 0.00 25,014.34 0.00 3,809,289.81
C 0.00 0.00 0.00 252,321.54 0.00 0.00
R-UT 0.00 0.00 0.00 0.00 0.00 0.00
R-LT 0.00 0.00 0.00 0.00 0.00 0.00
==========================================================================================================
Totals 0.00 0.00 0.00 2,350,880.28 0.00
==========================================================================================================
</TABLE>
(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.
<PAGE> 5
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
SMT Series 2000-4
Interest Distribution Factors Statement
<TABLE>
<CAPTION>
===========================================================================================================
Payment of
Beginning Unpaid
Original Face Current Certificate/ Current Accrued Interest
Class(5) Amount Certificate Rate Notional Balance Interest Shortfall
===========================================================================================================
<S> <C> <C> <C> <C> <C>
A 377,119,000.00 6.99000% 943.92827428 5.49838221 0.00000000
B 3,809,982.43 7.88000% 999.81820914 6.56547385 0.00000000
C 0.00 0.00000% 0.00000000 0.00000000 0.00000000
R-UT 0.00 0.00000% 0.00000000 0.00000000 0.00000000
R-LT 0.00 0.00000% 0.00000000 0.00000000 0.00000000
===========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
===========================================================================================================
Remaining Ending
Current Non-Supported Unpaid Certificate/
Interest Interest Realized Total Interest Interest Notional
Class(5) Shortfall Shortfall Losses(6) Distribution Shortfall Balance
===========================================================================================================
<S> <C> <C> <C> <C> <C> <C>
A 0.00000000 0.00000000 0.00000000 5.49838221 0.00000000 918.99752850
B 0.00000000 0.00000000 0.00000000 6.56547385 0.00000000 999.81820914
C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-UT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-LT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
===========================================================================================================
</TABLE>
(5) All Denominations Are Per $1,000.
(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.
<PAGE> 6
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
SMT Series 2000-4
Certificateholder Account Statement
========================================================================
CERTIFICATE ACCOUNT
<TABLE>
<CAPTION>
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 11,860,228.19
Liquidations, Insurance Proceeds, Reserve Funds 52.58
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 43,093.66
Realized Losses 0.00
-------------
Total Deposits 11,903,374.43
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 150,636.23
Payment of Interest and Principal 11,752,738.20
-------------
Total Withdrawals (Pool Distribution Amount) 11,903,374.43
Ending Balance 0.00
=============
</TABLE>
========================================================================
<TABLE>
<CAPTION>
===============================================================================================
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
------------ --------- ----------- -------- -------
<S> <C> <C> <C> <C>
Reserve Fund 10,000.00 0.00 52.58 10,000.00
Financial Guaranty 0.00 0.00 0.00 0.00
===============================================================================================
</TABLE>
=================================================================
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<TABLE>
<CAPTION>
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
----
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
====
</TABLE>
=================================================================
===================================================================
SERVICING FEES
<TABLE>
<CAPTION>
<S> <C>
Gross Servicing Fee 111,756.78
Trustee Fee 1,798.90
AMBAC Premium 37,080.55
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 150,636.23
==========
</TABLE>
===================================================================
<PAGE> 7
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
Certificateholder Delinquency/Credit Enhancement Statement
<TABLE>
<CAPTION>
-------------------------------------- -------------------------------------- ------------------------------------
DELINQUENT BANKRUPTCY FORECLOSURE
-------------------------------------- -------------------------------------- ------------------------------------
NO. OF PRINCIPAL NO. OF PRINCIPAL NO. OF PRINCIPAL
LOANS BALANCE LOANS BALANCE LOANS BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
30 Days 14 4,905,979.04 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 212,115.59 60 Days 0 0.00 60 Days 0 0.00
90 Days 1 295,919.58 90 Days 0 0.00 90 Days 0 0.00
120 Days 1 839,975.00 120 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
------------------------- ------------------------- -------------------------
17 6,253,989.21 0 0.00 0 0.00
</TABLE>
<TABLE>
NO. OF PRINCIPAL NO. OF PRINCIPAL NO. OF PRINCIPAL
LOANS BALANCE LOANS BALANCE LOANS BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
30 Days 1.652893% 1.400185% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.118064% 0.060539% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.118064% 0.084457% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.118064% 0.239732% 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%
------------------------- ------------------------- -------------------------
2.007084% 1.784912% 0.000000% 0.000000% 0.000000% 0.000000%
------------------------- ------------------------- -------------------------
</TABLE>
<PAGE> 8
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
Certificateholder Delinquency/Credit Enhancement Statement CONTINUED
<TABLE>
<CAPTION>
-------------------------------------- ---------------------------------------
REO TOTAL
-------------------------------------- ---------------------------------------
NO. OF PRINCIPAL NO. OF PRINCIPAL
LOANS BALANCE LOANS BALANCE
<S> <C> <C> <C> <C> <C>
30 Days 0 0.00 30 Days 14 4,905,979.04
60 Days 0 0.00 60 Days 1 212,115.59
90 Days 0 0.00 90 Days 1 295,919.58
120 Days 0 0.00 120 Days 1 839,975.00
150 Days 0 0.00 150 Days 0 0.00
180 Days 0 0.00 180 Days 0 0.00
---------- ------------- ------------ -------------
0 0.00 17 6,253,989.21
</TABLE>
<TABLE>
NO. OF PRINCIPAL NO. OF PRINCIPAL
LOANS BALANCE LOANS BALANCE
<S> <C> <C> <C> <C> <C>
30 Days 0.000000% 0.000000% 30 Days 1.652893% 1.400185%
60 Days 0.000000% 0.000000% 60 Days 0.118064% 0.060539%
90 Days 0.000000% 0.000000% 90 Days 0.118064% 0.084457%
120 Days 0.000000% 0.000000% 120 Days 0.118064% 0.239732%
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% 2.007084% 1.784912%
</TABLE>
(7) Delinquencies are stratified according to the information the Servicer
has provided.
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00 Principal Balance of Contaminated Properties 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00 Periodic Advance 43,093.66
Current Period Class A Insufficient Funds 0.00
</TABLE>
<TABLE>
<CAPTION>
===================================================================================================================================
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Original $ Original % Current $ Current % Current Class % Next Prepayment %
<S> <C> <C> <C> <C> <C> <C>
Class A 3,809,982.43 1.00018182% 3,809,289.81 1.08718591% 98.912814% 0.000000%
Class B 0.00 0.00000000% 0.00 0.00000000% 1.087186% 100.000000%
Class C 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
===================================================================================================================================
</TABLE>
<PAGE> 9
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
COLLATERAL STATEMENT
<TABLE>
<CAPTION>
Collateral Description Mixed ARM
<S> <C>
Weighted Average Gross Coupon 8.343252%
Weighted Average Net Coupon 7.964504%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity (Stepdown Calculation) 283
Beginning Scheduled Collateral Loan Count 864
Number of Loans Paid in Full 17
Ending Scheduled Collateral Loan Count 847
Beginning Scheduled Collateral Balance 359,782,576.69
Ending Scheduled Collateral Balance 350,380,718.77
Ending Actual Collateral Balance at 31-July-2000 350,380,718.69
Monthly P&I Constant 2,501,463.92
Class A Optimal Amount 11,512,482.87
Ending Scheduled Balance for Premium Loans 350,380,718.77
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 3,809,289.82
Overcollateralized Amount 3,809,289.82
Overcollateralization Deficiency Amount 0.00
Base Overcollateralization Amount 0.00
===============
Serious Delinquencies 0.00384%
Floor Amount 2,856,967.37
Excess Cash Flow Principal Amount (Current/Cumulative) 0.00/0.00
Required Payment 0.00
Preference Amount 0.00
Alternate Certificate Rate Used? No
Specified OC 3,809,289.82
===============
</TABLE>
<PAGE> 10
[SEQUOIA MORTGAGE TRUST LETTERHEAD]
