8-K

_________________________________________________

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

November 16, 2004

         Sequoia Residential Funding, Inc.          

(Exact Name of Registrant as Specified in its Charter)

Delaware	333-118832	35-2170972
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

591 Redwood Highway Suite 3160 Mill Valley, California	94941
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code:  (415) 381-1765

                                       No Change                                      

(Former Name or Former Address, if Changed Since Last Report)

Item 8.01.  Other Events.

In connection with the offering of the Sequoia Mortgage Trust 2004-11 Mortgage Pass-Through Certificates (the “Certificates”), Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representative (the “Representative”) of the underwriters of the Certificates has prepared certain materials (the “Collateral Term Sheet”) for distribution to potential investors.  Although Sequoia Residential Funding, Inc. provided the Representative with certain information regarding the characteristics of the mortgage loans in the related portfolio, it did not participate in the preparation of the Collateral Term Sheet filed hereby.

For purposes of this Form 8-K, “Collateral Term Sheet” shall mean certain descriptive information about the mortgage loans underlying the offering of the Certificates, including data regarding the contractual and related characteristics of the underlying mortgage loans, such as the weighted average coupon, weighted average maturity and other factual information regarding the types of assets comprising the mortgage pool.  The Collateral Term Sheet is attached hereto as Exhibit 99.1.

Item 7.  Financial Statements; Pro Forma Financial Information and Exhibits.

(a)        Not applicable.

(b)        Not applicable.

(c)        Exhibits:

                        99.1                 Collateral Term Sheet.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                                                                                    SEQUOIA RESIDENTIAL

                                                                                    FUNDING, INC.

By: /s/ John H. Isbrandtsen

Name:   John H. Isbrandtsen

Title:   Vice President

Dated:  November 16, 2004

EXHIBIT INDEX

Exhibit No.                                          Description                                         Page No.

99.1                                                     Collateral Term Sheet                              5

EX-99

SEMT2004_11_Price - Price/Yield - XA1									1ML Libor	2.10125
									6ML Libor	2.49000
Balance	519,298,000	Delay	19	WAC	3.5005674	WAM	304
Coupon	0.9563575	Dated	11/1/2004	NET	3.1456173	WALA	23
Settle	11/23/2004	First Payment	12/20/2004
Price	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield
2.28781	45.79	39.16	32.29	25.00	16.89	7.94	(1.76)	(12.56)	(24.30)	(36.60)
2.29781	45.56	38.93	32.07	24.78	16.66	7.71	(1.99)	(12.79)	(24.53)	(36.83)
2.30781	45.33	38.71	31.85	24.56	16.44	7.49	(2.22)	(13.02)	(24.77)	(37.07)
2.31781	45.10	38.49	31.63	24.35	16.22	7.26	(2.45)	(13.25)	(25.00)	(37.30)
2.32781	44.88	38.27	31.42	24.13	16.01	7.04	(2.67)	(13.48)	(25.23)	(37.54)
2.33781	44.65	38.05	31.20	23.92	15.79	6.82	(2.89)	(13.71)	(25.46)	(37.77)
2.34781	44.43	37.83	30.99	23.71	15.58	6.61	(3.11)	(13.93)	(25.69)	(37.99)
2.35781	44.21	37.62	30.78	23.50	15.37	6.39	(3.33)	(14.15)	(25.92)	(38.22)
2.36781	44.00	37.40	30.57	23.29	15.16	6.18	(3.55)	(14.37)	(26.14)	(38.45)
2.37781	43.78	37.19	30.36	23.08	14.95	5.96	(3.77)	(14.59)	(26.37)	(38.67)
2.38781	43.57	36.99	30.16	22.88	14.74	5.75	(3.98)	(14.81)	(26.59)	(38.89)
2.39781	43.36	36.78	29.95	22.68	14.54	5.54	(4.19)	(15.03)	(26.81)	(39.11)
2.40781	43.15	36.57	29.75	22.47	14.33	5.34	(4.40)	(15.24)	(27.03)	(39.33)
2.41781	42.94	36.37	29.55	22.27	14.13	5.13	(4.61)	(15.46)	(27.24)	(39.55)
2.42781	42.73	36.17	29.35	22.08	13.93	4.93	(4.82)	(15.67)	(27.46)	(39.77)
2.43781	42.53	35.97	29.16	21.88	13.73	4.72	(5.03)	(15.88)	(27.67)	(39.98)
2.44781	42.32	35.77	28.96	21.69	13.53	4.52	(5.23)	(16.09)	(27.88)	(40.19)
2.45781	42.12	35.57	28.77	21.49	13.34	4.32	(5.44)	(16.30)	(28.09)	(40.41)
2.46781	41.92	35.38	28.57	21.30	13.14	4.12	(5.64)	(16.50)	(28.30)	(40.62)
2.47781	41.72	35.18	28.38	21.11	12.95	3.93	(5.84)	(16.71)	(28.51)	(40.82)
2.48781	41.53	34.99	28.19	20.92	12.76	3.73	(6.04)	(16.91)	(28.72)	(41.03)
2.49781	41.33	34.80	28.01	20.73	12.57	3.54	(6.24)	(17.11)	(28.92)	(41.24)
2.50781	41.14	34.61	27.82	20.55	12.38	3.34	(6.43)	(17.31)	(29.13)	(41.44)
2.51781	40.95	34.42	27.64	20.36	12.19	3.15	(6.63)	(17.51)	(29.33)	(41.65)
2.52781	40.76	34.24	27.45	20.18	12.00	2.96	(6.82)	(17.71)	(29.53)	(41.85)
2.53781	40.57	34.05	27.27	20.00	11.82	2.77	(7.02)	(17.91)	(29.73)	(42.05)
2.54781	40.38	33.87	27.09	19.82	11.63	2.59	(7.21)	(18.10)	(29.93)	(42.25)
2.55781	40.20	33.69	26.91	19.64	11.45	2.40	(7.40)	(18.30)	(30.13)	(42.45)
2.56781	40.01	33.51	26.73	19.46	11.27	2.21	(7.58)	(18.49)	(30.32)	(42.64)
2.57781	39.83	33.33	26.56	19.28	11.09	2.03	(7.77)	(18.68)	(30.52)	(42.84)
2.58781	39.65	33.15	26.38	19.11	10.91	1.85	(7.96)	(18.87)	(30.71)	(43.03)
Mod Durn	1.97	2.01	2.04	2.05	2.02	1.98	1.95	1.91	1.88	1.87
LIBOR_1MO	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125
LIBOR_6MO	2.49	2.49	2.49	2.49	2.49	2.49	2.49	2.49	2.49	2.49
Prepay	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
Optional Redemption	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)
swap	Mat  6mo  1yr  2yr  3yr  4yr  5yr 6yr  7yr  8yr  9yr 10yr
	Yld 1.32 1.37 1.83 2.34 2.77 3.12 3.4 3.65 3.85 4.02 4.16

SEMT2004_11_Price - Price/Yield - XA2									1ML Libor	2.10125
									6ML Libor	2.49000
Balance	171,419,000	Delay	19	WAC(3)	3.304496	WAM(3)	211
Coupon	0.883871	Dated	11/1/2004	NET(3)	3.044996	WALA(3)	89
Settle	11/23/2004	First Payment	12/20/2004
Price	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield
2.79923	45.17	38.58	31.83	24.74	16.91	8.26	(1.16)	(11.66)	(23.13)	(35.25)
2.80923	44.96	38.38	31.63	24.55	16.72	8.06	(1.35)	(11.85)	(23.33)	(35.45)
2.81923	44.76	38.18	31.44	24.36	16.53	7.87	(1.55)	(12.05)	(23.53)	(35.65)
2.82923	44.56	37.99	31.25	24.17	16.34	7.68	(1.74)	(12.24)	(23.73)	(35.84)
2.83923	44.36	37.79	31.06	23.98	16.15	7.49	(1.93)	(12.44)	(23.93)	(36.04)
2.84923	44.16	37.60	30.87	23.79	15.96	7.30	(2.12)	(12.63)	(24.12)	(36.23)
2.85923	43.97	37.41	30.68	23.61	15.78	7.12	(2.31)	(12.82)	(24.31)	(36.43)
2.86923	43.77	37.22	30.49	23.43	15.60	6.93	(2.50)	(13.01)	(24.51)	(36.62)
2.87923	43.58	37.03	30.31	23.24	15.41	6.75	(2.68)	(13.20)	(24.70)	(36.81)
2.88923	43.38	36.84	30.13	23.06	15.23	6.56	(2.87)	(13.39)	(24.89)	(37.00)
2.89923	43.19	36.65	29.94	22.88	15.05	6.38	(3.05)	(13.57)	(25.08)	(37.19)
2.90923	43.00	36.47	29.76	22.70	14.87	6.20	(3.23)	(13.76)	(25.26)	(37.38)
2.91923	42.81	36.28	29.58	22.53	14.69	6.02	(3.42)	(13.95)	(25.45)	(37.57)
2.92923	42.62	36.10	29.40	22.35	14.52	5.84	(3.60)	(14.13)	(25.64)	(37.75)
2.93923	42.44	35.92	29.23	22.17	14.34	5.66	(3.78)	(14.31)	(25.82)	(37.94)
2.94923	42.25	35.74	29.05	22.00	14.17	5.49	(3.96)	(14.49)	(26.00)	(38.12)
2.95923	42.07	35.56	28.87	21.83	13.99	5.31	(4.13)	(14.67)	(26.19)	(38.30)
2.96923	41.89	35.38	28.70	21.66	13.82	5.14	(4.31)	(14.85)	(26.37)	(38.49)
2.97923	41.71	35.20	28.53	21.48	13.65	4.96	(4.48)	(15.03)	(26.55)	(38.67)
2.98923	41.53	35.03	28.36	21.32	13.48	4.79	(4.66)	(15.21)	(26.73)	(38.85)
2.99923	41.35	34.85	28.18	21.15	13.31	4.62	(4.83)	(15.38)	(26.91)	(39.02)
3.00923	41.17	34.68	28.02	20.98	13.14	4.45	(5.00)	(15.56)	(27.08)	(39.20)
3.01923	40.99	34.51	27.85	20.81	12.98	4.28	(5.18)	(15.73)	(27.26)	(39.38)
3.02923	40.82	34.34	27.68	20.65	12.81	4.11	(5.35)	(15.90)	(27.43)	(39.55)
3.03923	40.64	34.17	27.51	20.48	12.64	3.95	(5.52)	(16.08)	(27.61)	(39.73)
3.04923	40.47	34.00	27.35	20.32	12.48	3.78	(5.68)	(16.25)	(27.78)	(39.90)
3.05923	40.30	33.83	27.18	20.16	12.32	3.62	(5.85)	(16.42)	(27.95)	(40.08)
3.06923	40.13	33.66	27.02	20.00	12.16	3.45	(6.02)	(16.59)	(28.13)	(40.25)
3.07923	39.96	33.50	26.86	19.84	11.99	3.29	(6.18)	(16.75)	(28.30)	(40.42)
3.08923	39.79	33.33	26.70	19.68	11.83	3.13	(6.35)	(16.92)	(28.47)	(40.59)
3.09923	39.62	33.17	26.54	19.52	11.68	2.96	(6.51)	(17.09)	(28.63)	(40.76)
Mod Durn	1.81	1.85	1.89	1.92	1.91	1.89	1.87	1.84	1.82	1.82
LIBOR_1MO	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125	2.10125
LIBOR_6MO	2.49	2.49	2.49	2.49	2.49	2.49	2.49	2.49	2.49	2.49
Prepay	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
Optional Redemption	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)
swap	Mat  6mo  1yr  2yr  3yr  4yr  5yr 6yr  7yr  8yr  9yr 10yr
	Yld 1.32 1.37 1.83 2.34 2.77 3.12 3.4 3.65 3.85 4.02 4.16

SEMT2004_11_Price - Price/Yield - XA1									1ML Libor	Forward
									6ML Libor	Forward
Balance	519,298,000	Delay	19	WAC	3.5005674	WAM	304
Coupon	0.9563575	Dated	11/1/2004	NET	3.1456173	WALA	23
Settle	11/23/2004	First Payment	12/20/2004
Price	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield
2.28781	35.97	29.57	23.03	16.21	7.96	(1.17)	(11.28)	(22.34)	(34.32)	(46.75)
2.29781	35.78	29.39	22.85	16.03	7.77	(1.36)	(11.48)	(22.54)	(34.53)	(46.95)
2.30781	35.58	29.20	22.66	15.85	7.59	(1.55)	(11.67)	(22.74)	(34.73)	(47.16)
2.31781	35.39	29.01	22.48	15.67	7.41	(1.74)	(11.86)	(22.94)	(34.93)	(47.36)
2.32781	35.21	28.83	22.30	15.49	7.23	(1.93)	(12.06)	(23.13)	(35.13)	(47.56)
2.33781	35.02	28.65	22.12	15.32	7.05	(2.11)	(12.24)	(23.33)	(35.33)	(47.76)
2.34781	34.83	28.47	21.95	15.15	6.87	(2.29)	(12.43)	(23.52)	(35.52)	(47.95)
2.35781	34.65	28.29	21.77	14.97	6.69	(2.47)	(12.62)	(23.71)	(35.72)	(48.15)
2.36781	34.47	28.11	21.60	14.80	6.52	(2.65)	(12.81)	(23.90)	(35.91)	(48.35)
2.37781	34.29	27.93	21.43	14.63	6.34	(2.83)	(12.99)	(24.09)	(36.11)	(48.54)
2.38781	34.11	27.76	21.26	14.47	6.17	(3.01)	(13.17)	(24.28)	(36.30)	(48.73)
2.39781	33.93	27.58	21.09	14.30	6.00	(3.19)	(13.35)	(24.47)	(36.49)	(48.92)
2.40781	33.75	27.41	20.92	14.13	5.83	(3.36)	(13.53)	(24.65)	(36.68)	(49.11)
2.41781	33.58	27.24	20.75	13.97	5.66	(3.54)	(13.71)	(24.83)	(36.86)	(49.30)
2.42781	33.40	27.07	20.58	13.81	5.49	(3.71)	(13.89)	(25.02)	(37.05)	(49.49)
2.43781	33.23	26.90	20.42	13.64	5.33	(3.88)	(14.07)	(25.20)	(37.24)	(49.68)
2.44781	33.06	26.73	20.26	13.48	5.16	(4.05)	(14.24)	(25.38)	(37.42)	(49.86)
2.45781	32.89	26.57	20.09	13.33	5.00	(4.22)	(14.42)	(25.56)	(37.60)	(50.04)
2.46781	32.72	26.40	19.93	13.17	4.84	(4.39)	(14.59)	(25.74)	(37.78)	(50.23)
2.47781	32.55	26.24	19.77	13.01	4.67	(4.55)	(14.76)	(25.91)	(37.96)	(50.41)
2.48781	32.39	26.08	19.61	12.85	4.51	(4.72)	(14.93)	(26.09)	(38.14)	(50.59)
2.49781	32.22	25.91	19.46	12.70	4.35	(4.88)	(15.10)	(26.26)	(38.32)	(50.77)
2.50781	32.06	25.75	19.30	12.55	4.20	(5.05)	(15.27)	(26.44)	(38.50)	(50.94)
2.51781	31.90	25.60	19.15	12.39	4.04	(5.21)	(15.44)	(26.61)	(38.67)	(51.12)
2.52781	31.73	25.44	18.99	12.24	3.88	(5.37)	(15.61)	(26.78)	(38.85)	(51.30)
2.53781	31.57	25.28	18.84	12.09	3.73	(5.53)	(15.77)	(26.95)	(39.02)	(51.47)
2.54781	31.41	25.13	18.69	11.94	3.57	(5.69)	(15.94)	(27.12)	(39.19)	(51.65)
2.55781	31.26	24.97	18.54	11.80	3.42	(5.85)	(16.10)	(27.28)	(39.36)	(51.82)
2.56781	31.10	24.82	18.39	11.65	3.27	(6.00)	(16.26)	(27.45)	(39.53)	(51.99)
2.57781	30.94	24.67	18.24	11.50	3.12	(6.16)	(16.42)	(27.62)	(39.70)	(52.16)
2.58781	30.79	24.52	18.09	11.36	2.97	(6.31)	(16.58)	(27.78)	(39.87)	(52.33)
Mod Durn	2.33	2.38	2.44	2.49	2.42	2.35	2.27	2.22	2.17	2.16
LIBOR_1MO	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd
LIBOR_6MO	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd
Prepay	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
Optional Redemption	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)
swap	Mat  6mo  1yr  2yr  3yr  4yr  5yr 6yr  7yr  8yr  9yr 10yr
	Yld 1.32 1.37 1.83 2.34 2.77 3.12 3.4 3.65 3.85 4.02 4.16

SEMT2004_11_Price - Price/Yield - XA2									1ML Libor	Forward
									6ML Libor	Forward
Balance	171,419,000	Delay	19	WAC(3)	3.304496	WAM(3)	211
Coupon	0.883871	Dated	11/1/2004	NET(3)	3.044996	WALA(3)	89
Settle	11/23/2004	First Payment	12/20/2004
Price	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield
2.79923	35.93	29.55	23.07	16.37	8.47	(0.32)	(10.10)	(20.83)	(32.54)	(44.78)
2.80923	35.76	29.39	22.91	16.21	8.31	(0.48)	(10.26)	(21.01)	(32.72)	(44.96)
2.81923	35.59	29.22	22.75	16.05	8.15	(0.65)	(10.43)	(21.18)	(32.89)	(45.13)
2.82923	35.42	29.06	22.59	15.89	7.99	(0.81)	(10.60)	(21.34)	(33.06)	(45.30)
2.83923	35.25	28.89	22.43	15.74	7.83	(0.97)	(10.76)	(21.51)	(33.23)	(45.47)
2.84923	35.09	28.73	22.27	15.58	7.68	(1.13)	(10.92)	(21.68)	(33.40)	(45.64)
2.85923	34.92	28.57	22.11	15.43	7.52	(1.29)	(11.09)	(21.84)	(33.57)	(45.81)
2.86923	34.76	28.41	21.96	15.28	7.37	(1.44)	(11.25)	(22.01)	(33.74)	(45.98)
2.87923	34.59	28.25	21.80	15.13	7.21	(1.60)	(11.41)	(22.17)	(33.90)	(46.15)
2.88923	34.43	28.09	21.65	14.98	7.06	(1.76)	(11.57)	(22.34)	(34.07)	(46.31)
2.89923	34.27	27.93	21.49	14.83	6.91	(1.91)	(11.73)	(22.50)	(34.23)	(46.48)
2.90923	34.11	27.77	21.34	14.68	6.76	(2.07)	(11.88)	(22.66)	(34.40)	(46.64)
2.91923	33.95	27.62	21.19	14.53	6.61	(2.22)	(12.04)	(22.82)	(34.56)	(46.81)
2.92923	33.79	27.46	21.04	14.38	6.46	(2.37)	(12.20)	(22.98)	(34.72)	(46.97)
2.93923	33.63	27.31	20.89	14.24	6.31	(2.52)	(12.35)	(23.14)	(34.88)	(47.13)
2.94923	33.48	27.16	20.74	14.09	6.16	(2.67)	(12.50)	(23.29)	(35.04)	(47.29)
2.95923	33.32	27.01	20.60	13.95	6.02	(2.82)	(12.66)	(23.45)	(35.20)	(47.45)
2.96923	33.17	26.86	20.45	13.81	5.87	(2.97)	(12.81)	(23.61)	(35.36)	(47.61)
2.97923	33.01	26.71	20.30	13.66	5.73	(3.12)	(12.96)	(23.76)	(35.52)	(47.77)
2.98923	32.86	26.56	20.16	13.52	5.58	(3.27)	(13.11)	(23.92)	(35.68)	(47.93)
2.99923	32.71	26.41	20.01	13.38	5.44	(3.41)	(13.26)	(24.07)	(35.83)	(48.08)
3.00923	32.56	26.26	19.87	13.24	5.30	(3.56)	(13.41)	(24.22)	(35.99)	(48.24)
3.01923	32.41	26.12	19.73	13.10	5.16	(3.70)	(13.56)	(24.37)	(36.14)	(48.39)
3.02923	32.26	25.97	19.59	12.97	5.02	(3.84)	(13.71)	(24.52)	(36.29)	(48.55)
3.03923	32.11	25.83	19.45	12.83	4.88	(3.99)	(13.85)	(24.67)	(36.45)	(48.70)
3.04923	31.96	25.68	19.31	12.69	4.74	(4.13)	(14.00)	(24.82)	(36.60)	(48.85)
3.05923	31.82	25.54	19.17	12.56	4.60	(4.27)	(14.14)	(24.97)	(36.75)	(49.00)
3.06923	31.67	25.40	19.03	12.42	4.47	(4.41)	(14.29)	(25.12)	(36.90)	(49.16)
3.07923	31.53	25.26	18.90	12.29	4.33	(4.55)	(14.43)	(25.26)	(37.05)	(49.31)
3.08923	31.38	25.12	18.76	12.16	4.19	(4.69)	(14.57)	(25.41)	(37.20)	(49.45)
3.09923	31.24	24.98	18.62	12.02	4.06	(4.83)	(14.71)	(25.55)	(37.34)	(49.60)
Mod Durn	2.14	2.19	2.25	2.31	2.27	2.22	2.17	2.12	2.09	2.08
LIBOR_1MO	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd
LIBOR_6MO	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd
Prepay	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
Optional Redemption	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)
swap	Mat  6mo  1yr  2yr  3yr  4yr  5yr 6yr  7yr  8yr  9yr 10yr
	Yld 1.32 1.37 1.83 2.34 2.77 3.12 3.4 3.65 3.85 4.02 4.16

SEMT2004_11_Price - Price/Yield - XA1									1ML Libor	Forward+200
									6ML Libor	Forward+200
Balance	$519,298,000	Delay	19	WAC	3.5005674	WAM	304
Coupon	0.9563575	Dated	11/1/2004	NET	3.1456173	WALA	23
Settle	11/23/2004	First Payment	12/20/2004
Price	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield
2.28781	31.06	24.72	18.22	11.42	2.92	(6.50)	(16.95)	(28.39)	(40.79)	(53.62)
2.29781	30.90	24.56	18.07	11.27	2.77	(6.66)	(17.11)	(28.56)	(40.96)	(53.79)
2.30781	30.74	24.41	17.92	11.13	2.62	(6.81)	(17.27)	(28.72)	(41.13)	(53.95)
2.31781	30.59	24.26	17.78	10.98	2.47	(6.96)	(17.43)	(28.88)	(41.29)	(54.12)
2.32781	30.43	24.11	17.63	10.84	2.32	(7.12)	(17.59)	(29.04)	(41.45)	(54.28)
2.33781	30.28	23.96	17.48	10.70	2.18	(7.27)	(17.74)	(29.20)	(41.62)	(54.44)
2.34781	30.13	23.81	17.34	10.56	2.03	(7.42)	(17.90)	(29.36)	(41.78)	(54.61)
2.35781	29.98	23.66	17.20	10.42	1.89	(7.57)	(18.05)	(29.52)	(41.94)	(54.77)
2.36781	29.83	23.52	17.05	10.28	1.74	(7.72)	(18.21)	(29.68)	(42.10)	(54.93)
2.37781	29.68	23.37	16.91	10.14	1.60	(7.87)	(18.36)	(29.83)	(42.26)	(55.08)
2.38781	29.53	23.23	16.77	10.00	1.46	(8.01)	(18.51)	(29.99)	(42.42)	(55.24)
2.39781	29.38	23.09	16.63	9.86	1.31	(8.16)	(18.66)	(30.14)	(42.57)	(55.40)
2.40781	29.24	22.94	16.50	9.73	1.17	(8.30)	(18.81)	(30.30)	(42.73)	(55.55)
2.41781	29.09	22.80	16.36	9.59	1.03	(8.45)	(18.96)	(30.45)	(42.88)	(55.71)
2.42781	28.95	22.66	16.22	9.46	0.90	(8.59)	(19.11)	(30.60)	(43.04)	(55.86)
2.43781	28.81	22.52	16.09	9.33	0.76	(8.73)	(19.26)	(30.75)	(43.19)	(56.02)
2.44781	28.67	22.39	15.95	9.19	0.62	(8.88)	(19.40)	(30.90)	(43.34)	(56.17)
2.45781	28.52	22.25	15.82	9.06	0.49	(9.02)	(19.55)	(31.05)	(43.49)	(56.32)
2.46781	28.39	22.11	15.68	8.93	0.35	(9.16)	(19.69)	(31.20)	(43.64)	(56.47)
2.47781	28.25	21.98	15.55	8.80	0.22	(9.30)	(19.83)	(31.35)	(43.79)	(56.62)
2.48781	28.11	21.84	15.42	8.67	0.08	(9.43)	(19.98)	(31.49)	(43.94)	(56.77)
2.49781	27.97	21.71	15.29	8.55	(0.05)	(9.57)	(20.12)	(31.64)	(44.09)	(56.92)
2.50781	27.84	21.58	15.16	8.42	(0.18)	(9.71)	(20.26)	(31.78)	(44.24)	(57.06)
2.51781	27.70	21.45	15.03	8.29	(0.31)	(9.84)	(20.40)	(31.92)	(44.38)	(57.21)
2.52781	27.57	21.32	14.91	8.17	(0.44)	(9.98)	(20.54)	(32.07)	(44.53)	(57.35)
2.53781	27.43	21.19	14.78	8.04	(0.57)	(10.11)	(20.68)	(32.21)	(44.67)	(57.50)
2.54781	27.30	21.06	14.65	7.92	(0.70)	(10.24)	(20.81)	(32.35)	(44.82)	(57.64)
2.55781	27.17	20.93	14.53	7.80	(0.83)	(10.38)	(20.95)	(32.49)	(44.96)	(57.78)
2.56781	27.04	20.80	14.40	7.67	(0.96)	(10.51)	(21.09)	(32.63)	(45.10)	(57.93)
2.57781	26.91	20.67	14.28	7.55	(1.08)	(10.64)	(21.22)	(32.77)	(45.24)	(58.07)
2.58781	26.78	20.55	14.16	7.43	(1.21)	(10.77)	(21.36)	(32.91)	(45.38)	(58.21)
Mod Durn	2.82	2.89	2.97	3.02	2.92	2.82	2.73	2.67	2.62	2.63
Shock(bps)	200bp	200bp	200bp	200bp	200bp	200bp	200bp	200bp	200bp	200bp
LIBOR_1MO	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd
LIBOR_6MO	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd
Prepay	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
Optional Redemption	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)

SEMT2004_11_Price - Price/Yield - XA2									1ML Libor	Forward+200
									6ML Libor	Forward+200
Balance	171,419,000	Delay	19	WAC(3)	3.304496	WAM(3)	211
Coupon	0.883871	Dated	11/1/2004	NET(3)	3.044996	WALA(3)	89
Settle	11/23/2004	First Payment	12/20/2004
Price	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield	Yield
2.79923	32.53	26.21	19.78	13.13	5.09	(3.88)	(13.85)	(24.81)	(36.73)	(49.15)
2.80923	32.39	26.06	19.64	13.00	4.95	(4.02)	(14.00)	(24.96)	(36.88)	(49.30)
2.81923	32.24	25.92	19.50	12.86	4.81	(4.16)	(14.15)	(25.10)	(37.04)	(49.45)
2.82923	32.09	25.78	19.36	12.72	4.67	(4.30)	(14.29)	(25.25)	(37.19)	(49.61)
2.83923	31.95	25.63	19.22	12.59	4.53	(4.44)	(14.43)	(25.40)	(37.34)	(49.75)
2.84923	31.80	25.49	19.09	12.46	4.40	(4.58)	(14.58)	(25.55)	(37.48)	(49.90)
2.85923	31.66	25.35	18.95	12.32	4.26	(4.72)	(14.72)	(25.69)	(37.63)	(50.05)
2.86923	31.51	25.21	18.82	12.19	4.13	(4.86)	(14.86)	(25.84)	(37.78)	(50.20)
2.87923	31.37	25.07	18.68	12.06	3.99	(4.99)	(15.00)	(25.98)	(37.93)	(50.35)
2.88923	31.23	24.94	18.55	11.93	3.86	(5.13)	(15.14)	(26.12)	(38.07)	(50.49)
2.89923	31.09	24.80	18.41	11.80	3.73	(5.27)	(15.28)	(26.27)	(38.22)	(50.64)
2.90923	30.95	24.66	18.28	11.67	3.59	(5.40)	(15.42)	(26.41)	(38.36)	(50.78)
2.91923	30.81	24.53	18.15	11.54	3.46	(5.54)	(15.56)	(26.55)	(38.50)	(50.92)
2.92923	30.67	24.39	18.02	11.41	3.33	(5.67)	(15.70)	(26.69)	(38.64)	(51.07)
2.93923	30.53	24.26	17.89	11.29	3.20	(5.80)	(15.83)	(26.83)	(38.79)	(51.21)
2.94923	30.40	24.13	17.76	11.16	3.07	(5.93)	(15.97)	(26.97)	(38.93)	(51.35)
2.95923	30.26	23.99	17.63	11.04	2.95	(6.07)	(16.10)	(27.10)	(39.07)	(51.49)
2.96923	30.13	23.86	17.50	10.91	2.82	(6.20)	(16.24)	(27.24)	(39.21)	(51.63)
2.97923	29.99	23.73	17.38	10.79	2.69	(6.33)	(16.37)	(27.38)	(39.35)	(51.77)
2.98923	29.86	23.60	17.25	10.66	2.57	(6.46)	(16.50)	(27.51)	(39.48)	(51.91)
2.99923	29.73	23.47	17.12	10.54	2.44	(6.58)	(16.63)	(27.65)	(39.62)	(52.05)
3.00923	29.59	23.34	17.00	10.42	2.32	(6.71)	(16.77)	(27.78)	(39.76)	(52.18)
3.01923	29.46	23.22	16.88	10.30	2.19	(6.84)	(16.90)	(27.92)	(39.89)	(52.32)
3.02923	29.33	23.09	16.75	10.18	2.07	(6.97)	(17.03)	(28.05)	(40.03)	(52.46)
3.03923	29.20	22.96	16.63	10.06	1.95	(7.09)	(17.16)	(28.18)	(40.16)	(52.59)
3.04923	29.07	22.84	16.51	9.94	1.83	(7.22)	(17.28)	(28.31)	(40.30)	(52.73)
3.05923	28.95	22.71	16.39	9.82	1.70	(7.34)	(17.41)	(28.45)	(40.43)	(52.86)
3.06923	28.82	22.59	16.27	9.70	1.58	(7.46)	(17.54)	(28.58)	(40.56)	(52.99)
3.07923	28.69	22.47	16.15	9.59	1.46	(7.59)	(17.67)	(28.71)	(40.70)	(53.13)
3.08923	28.57	22.34	16.03	9.47	1.34	(7.71)	(17.79)	(28.83)	(40.83)	(53.26)
3.09923	28.44	22.22	15.91	9.36	1.23	(7.83)	(17.92)	(28.96)	(40.96)	(53.39)
Mod Durn	2.45	2.51	2.58	2.65	2.59	2.53	2.46	2.41	2.37	2.36
Shock(bps)	200bp	200bp	200bp	200bp	200bp	200bp	200bp	200bp	200bp	200bp
LIBOR_1MO	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd
LIBOR_6MO	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd	Fwd
Prepay	5 CPR	10 CPR	15 CPR	20 CPR	25 CPR	30 CPR	35 CPR	40 CPR	45 CPR	50 CPR
Optional Redemption	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)	Call (Y)

H

Pool Data

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1. Only enter data in the fields highlighted in purple.
2. Please enter 0 for blanks.
3. Bucket the data using best fit rules.

Pool Summary
Total Issue Balance (USD)
Original Mortgage Pool Balance (USD)	448,788,593
Current Mortgage Pool Balance (USD)	448,390,267
Total Number of Loans	1,183
Average Loan Balance (USD)	379,028
1st lien (%age)	100.0%
2nd lien (%age)	0.0%
WA FICO	735
- Minimum FICO	576
- Maximum FICO	838
WA LTV	69.2%
- Minimum LTV	16.3%
- Maximum LTV	100.0%
WA DTI	34.2%
- Minimum DTI	0.1%
- Maximum DTI	69.0%
WA Age (Months)	1
WA Remaining Term (Months)	334
Aquired Loans	100.0%
North California (% of Pool)	11.7%
South California (% of Pool)	16.1%

North California
% of State	42.2
WA FICO	746
- Minimum FICO	646
- Maximum FICO	816
WA LTV	67.91
- Minimum LTV	19.96
- Maximum LTV	100
Highest Zip-Code Density (% of State)	2.57
Zip-Code with Highest Density	95070

South California
% of State	57.8
WA FICO	737
Minimum FICO	653
Maximum FICO	838
WA LTV	67.53
Minimum LTV	19
Maximum LTV	100
Highest Zip-Code Density (% of State)	1.88
Zip-Code with Highest Density	90064

Classification	Total	Check
Mortgage Type	448,390,267	4
Loan-to-Value	448,390,267	4
FICO	448,390,267	4
Purpose	448,390,267	4
Occupancy	448,390,267	4
Loan Balance	448,390,267	4
Property Type	448,390,267	4
Documentation Type	448,390,267	4
Fixed Period	448,390,267	4
Debt-to-Income Ratio	448,390,267	4
Geographic Distribution	448,390,267	4

Per Annum Fees
Servicer Fees	0.387
Cost of Carry

Mortgage Type	WA LTV	WA FICO	Balance
Classic 30yr FRM			-
Classic 15yr FRM			-
Classic ARM			-
Classic 15/30 Balloon			-
Classic 5/1 Hybrid	77%	767	508,993
Classic 5/1 IO Hybrid	69%	735	447,881,274
5/1 Hybrid w/3 year IO feature			-

LTV	WA LTV	WA FICO	Balance
0.01-20.00	19%	740	1,260,000
20.01-25.00	24%	787	1,725,000
25.01-30.00	27%	722	2,268,713
30.01-35.00	33%	729	4,042,200
35.01-40.00	38%	747	12,039,100
40.01-45.00	43%	728	8,665,832
45.01-50.00	48%	741	20,237,529
50.01-55.00	53%	714	22,688,580
55.01-60.00	58%	742	29,734,272
60.01-65.00	63%	732	32,204,852
65.01-70.00	68%	741	69,274,777
70.01-75.00	74%	731	65,690,807
75.01-80.00	79%	736	159,959,651
80.01-85.00	83%	711	1,352,081
85.01-90.00	89%	711	4,943,033
90.01-95.00	94%	667	2,664,290
95.01-100.00	100%	737	9,639,551

FICO	WA LTV	WA FICO	Balance
321 - 340			-
341 - 360			-
361 - 380			-
381 - 400			-
401 - 420			-
421 - 440			-
441 - 460			-
461 - 480			-
481 - 500			-
501 - 520			-
521 - 540			-
541 - 560			-
561 - 580	99%	576	154,000
581 - 600	83%	594	1,265,000
601 - 620	67%	604	841,900
621 - 640	71%	626	4,841,450
641 - 660	69%	654	12,249,401
661 - 680	66%	671	27,158,105
681 - 700	70%	691	60,194,995
701 - 720	71%	710	65,307,573
721 - 740	68%	731	60,166,966
741 - 760	70%	751	63,978,387
761 - 780	70%	770	84,103,049
781 - 800	67%	789	53,969,459
801 - 820	69%	806	13,734,382
> 820	80%	838	425,600
Unknown			-

LTV	MIG%	WA FICO	Balance with MIG
0.01-20.00	0%	0	0
20.01-25.00	0%	0	0
25.01-30.00	0%	0	0
30.01-35.00	0%	0	0
35.01-40.00	0%	0	0
40.01-45.00	0%	0	0
45.01-50.00	0%	0	0
50.01-55.00	0%	0	0
55.01-60.00	0%	0	0
60.01-65.00	0%	0	0
65.01-70.00	0%	0	0
70.01-75.00	0%	0	0
75.01-80.00	0%	0	0
80.01-85.00	100%	711	1,352,081
85.01-90.00	86%	719	4,228,033
90.01-95.00	62%	693	1,664,290
95.01-100.00	0%	0	0

Purpose	WA LTV	WA FICO	Balance
Purchase	76%	739	180,487,881
Cash-Out/Refinancing	64%	734	157,915,321
Refinancing	66%	729	109,987,066

Occupancy	WA LTV	WA FICO	Balance
Owner	69%	735	382,176,668
Investment	71%	731	10,748,645
2nd Home	72%	732	55,464,954

Loan Balance	WA LTV	WA FICO	Balance
<$200,000	70%	732	50,492,337
<$400,000	71%	736	119,653,789
<$600,000	70%	742	106,217,179
>$600,000	67%	730	172,026,962
Property Type	WA LTV	WA FICO	Balance
SFR	68%	731	279,918,955
PUD	71%	742	120,963,457
CND	71%	735	41,612,478
2-4 Family	74%	746	5,895,377

Documentation Type	WA LTV	WA FICO	Balance
Full	71%	739	197,125,958
Reduced	70%	741	82,153,763
SISA			-
NISA	64%	733	71,390,166
NINA	62%	748	7,014,450
NAV			-
No Ratio	51%	755	2,849,500
Alt	70%	719	87,856,429

Fixed Period (Months)	WA LTV	WA FICO	Balance
1	68%	734	219,154,403
3			-
6	70%	735	229,235,865
12			-
24			-
36			-
60			-
84			-
>=120			-

DTI	WA LTV	WA FICO	Balance
0.01 - 5.00	63%	716	790,100
5.01 - 10.00	75%	728	4,777,236
10.01 - 15.00	68%	739	20,205,084
15.01 - 20.00	68%	749	31,865,781
20.01 - 25.00	68%	748	43,400,714
25.01 - 30.00	70%	735	54,795,906
30.01 - 35.00	68%	739	68,615,872
35.01 - 40.00	71%	732	83,246,002
40.01 - 45.00	70%	734	59,420,524
45.01 - 50.00	69%	719	32,195,417
50.01 - 55.00	74%	718	14,181,155
> 55.00	75%	723	19,044,860
Unknown	55%	722	15,851,617

Geographic Distribution	WA LTV	WA FICO	Balance
AK	86%	670	286,500
AL	78%	705	658,916
AR	76%	751	1,205,560
AS			-
AZ	72%	738	17,126,096
CA	65%	741	124,735,460
CO	74%	739	18,523,786
CT	53%	729	5,795,204
CZ			-
DC	80%	755	4,812,000
DE	65%	725	1,279,000
FL	70%	727	56,388,346
GA	75%	727	11,451,573
GU			-
HI	64%	756	7,407,300
IA	75%	748	491,250
ID	80%	806	111,600
IL	63%	732	10,737,000
IN	80%	743	1,839,586
KS	81%	713	3,139,114
KY			-
LA	80%	697	284,000
MA	70%	742	13,773,264
MD	71%	710	11,836,844
ME	81%	738	560,200
MI	73%	738	9,499,762
MN	70%	720	7,002,900
MO	76%	672	3,183,978
MS	78%	654	96,000
MT	89%	685	1,920,500
NC	75%	747	13,483,497
ND			-
NE	80%	711	336,000
NH	74%	738	1,528,750
NJ	68%	724	13,819,983
NM	70%	775	292,800
NV	70%	735	10,744,341
NY	62%	740	14,960,089
OH	72%	725	16,123,727
OK	78%	707	1,814,730
OR	64%	736	1,664,150
OT			-
PA	71%	740	7,726,325
PR			-
RI	85%	694	865,000
SC	64%	750	3,928,152
SD	79%	732	152,000
TN	73%	740	4,928,475
TT			-
TX	76%	728	11,904,224
UT	77%	725	3,448,527
VA	71%	740	13,379,816
VI			-
VT			-
WA	73%	736	12,687,621
WI	72%	764	456,320
WV			-
WY			-

Merrill Lynch & Co.
Sequoia Residential Funding, Inc.
SEQUOIA MORTGAGE TRUST 2003-8
1 2 3
1,975 records
Balance: 715,771,169
Selection Criteria: 1
Table of Contents
1. Mortgage Type
2. LTV
3. FICO
4. LTV w MI
5. Purpose
6. Occupancy
7. Loan Balance
8. Property Type
9. Documentation Type
10. Fixed Period
11. DTI
12. Geographic Distribution
1. Mortgage Type
Mortgage Type	WA LTV	WA FICO	Balance
Hybrid	0.7661	767	508,993.28
Hybrid IO	0.692	735	447,881,273.93
Total:	0.692	735	448,390,267.21
Top
2. LTV
LTV	WA LTV	WA FICO	Balance
20.00 or less	0.1895	740	1,260,000.00
20.01 to 25.00	0.241	787	1,725,000.00
25.01 to 30.00	0.2741	722	2,268,713.19
30.01 to 35.00	0.3291	729	4,042,200.00
35.01 to 40.00	0.3779	747	12,039,100.00
40.01 to 45.00	0.4264	728	8,665,832.19
45.01 to 50.00	0.4773	741	20,237,529.37
50.01 to 55.00	0.5257	714	22,688,579.74
55.01 to 60.00	0.5789	742	29,734,271.59
60.01 to 65.00	0.6279	732	32,204,852.36
65.01 to 70.00	0.6818	741	69,274,777.01
70.01 to 75.00	0.7374	731	65,690,806.53
75.01 to 80.00	0.7946	736	159,959,650.65
80.01 to 85.00	0.8273	711	1,352,081.05
85.01 to 90.00	0.8915	711	4,943,032.60
90.01 to 95.00	0.9351	667	2,664,289.93
95.01 to 100.00	0.9996	737	9,639,551.00
Total:	0.692	735	448,390,267.21
Top
3. FICO
FICO	WA LTV	WA FICO	Balance
561 to 580	0.9942	576	154,000.00
581 to 600	0.8298	594	1,265,000.00
601 to 620	0.6674	604	841,900.00
621 to 640	0.713	626	4,841,450.00
641 to 660	0.6928	654	12,249,401.43
661 to 680	0.6583	671	27,158,104.56
681 to 700	0.6983	691	60,194,995.10
701 to 720	0.7074	710	65,307,573.13
721 to 740	0.6844	731	60,166,965.69
741 to 760	0.6956	751	63,978,387.10
761 to 780	0.6975	770	84,103,049.37
781 to 800	0.6736	789	53,969,458.73
801 to 820	0.6884	806	13,734,382.10
821 >=	0.8	838	425,600.00
Total:	0.692	735	448,390,267.21
Top
4. LTV w MI
LTV w
MI	MIG%	WA FICO	Balance
20.00 or less	0	0	0
20.01 to 25.00	0	0	0
25.01 to 30.00	0	0	0
30.01 to 35.00	0	0	0
35.01 to 40.00	0	0	0
40.01 to 45.00	0	0	0
45.01 to 50.00	0	0	0
50.01 to 55.00	0	0	0
55.01 to 60.00	0	0	0
60.01 to 65.00	0	0	0
65.01 to 70.00	0	0	0
70.01 to 75.00	0	0	0
75.01 to 80.00	0	0	0
80.01 to 85.00	100	711	1,352,081.05
85.01 to 90.00	85.5352	719	4,228,032.60
90.01 to 95.00	62.4665	693	1,664,289.93
95.01 to 100.00	0	0	0
Total:	1.6156	711	7,244,403.58
Top
5. Purpose
Purpose	WA LTV	WA FICO	Balance
Purchase	0.7555	739	180,487,880.61
Refinance (Cash-out)	0.643	734	157,915,320.69
Refinance (Rate-Term)	0.6584	729	109,987,065.91
Total:	0.692	735	448,390,267.21
Top
6. Occupancy
Occupancy	WA LTV	WA FICO	Balance
Primary	0.6869	735	382,176,668.39
Investment	0.7068	731	10,748,645.00
Second Home	0.7247	732	55,464,953.82
Total:	0.692	735	448,390,267.21
Top
7. Loan Balance
Loan Balance	WA LTV	WA FICO	Balance
0.00 to 199,999.99	0.7031	732	50,492,336.64
200,000.00 to 399,999.99	0.7126	736	119,653,788.86
400,000.00 to 599,999.99	0.7029	742	106,217,179.23
600,000.00 or greater	0.6677	730	172,026,962.48
Total:	0.692	735	448,390,267.21
Top
8. Property Type
Property Type	WA LTV	WA FICO	Balance
Single Family	0.6828	731	279,918,954.86
Planned Unit Development	0.7058	742	120,963,457.30
Condominium	0.7069	735	41,612,478.05
Two-to-Four Family	0.7438	746	5,895,377.00
Total:	0.692	735	448,390,267.21
Top
9. Documentation Type
Documentation Type	WA LTV	WA FICO	Balance
Full Documentation	0.7058	739	197,125,958.45		Full
Reduced Documentation	0.7036	741	82,153,763.46		Reduced
					SISA
Asset Verification/No Income Verification	0.644	733	71,390,165.84		NISA
No Income/No Asset	0.6213	748	7,014,450.00		NINA
					NAV
No Ratio	0.5114	755	2,849,500.00		No Ratio
Alternative Documentation	0.7009	719	87,856,429.46		Alt
Total:	0.692	735	448,390,267.21
Top
10. Fixed Period
Fixed Period	WA LTV	WA FICO	Balance
1	0.6819	734	219,154,402.50
6	0.7017	735	229,235,864.71
Total:	0.692	735	448,390,267.21
Top
11. DTI
DTI	WA LTV	WA FICO	Balance
0.00 or less	0.5544	722	15,851,616.93
0.01 to 5.00	0.63	716	790,100.00
5.01 to 10.00	0.7452	728	4,777,236.00
10.01 to 15.00	0.6834	739	20,205,084.33
15.01 to 20.00	0.6786	749	31,865,780.76
20.01 to 25.00	0.6787	748	43,400,713.57
25.01 to 30.00	0.7047	735	54,795,905.52
30.01 to 35.00	0.6778	739	68,615,872.17
35.01 to 40.00	0.7072	732	83,246,001.89
40.01 to 45.00	0.7039	734	59,420,523.80
45.01 to 50.00	0.6852	719	32,195,417.39
50.01 to 55.00	0.7352	718	14,181,154.85
55.01 or greater	0.7488	723	19,044,860.00
Total:	0.692	735	448,390,267.21
Top
12. Geographic Distribution
Geographic Distribution	WA LTV	WA FICO	Balance
AK	0.8571	670	286,500.00	AK
AL	0.7799	705	658,916.00	AL
AR	0.7594	751	1,205,560.00	AR
				AS
AZ	0.7184	738	17,126,095.77	AZ
CA	0.6513	741	124,735,459.96	CA
CO	0.7362	739	18,523,786.11	CO
CT	0.5267	729	5,795,203.60	CT
				CZ
DC	0.7959	755	4,812,000.00	DC
DE	0.6455	725	1,279,000.00	DE
FL	0.6959	727	56,388,345.82	FL
GA	0.749	727	11,451,572.93	GA
				GU
HI	0.6426	756	7,407,300.00	HI
IA	0.75	748	491,250.00	IA
ID	0.8	806	111,600.00	ID
IL	0.63	732	10,737,000.00	IL
IN	0.796	743	1,839,586.15	IN
KS	0.8131	713	3,139,113.60	KS
				KY
LA	0.8	697	284,000.00	LA
MA	0.7044	742	13,773,264.23	MA
MD	0.7066	710	11,836,844.07	MD
ME	0.8058	738	560,200.00	ME
MI	0.727	738	9,499,762.47	MI
MN	0.697	720	7,002,900.00	MN
MO	0.7593	672	3,183,978.26	MO
MS	0.7805	654	96,000.00	MS
MT	0.8923	685	1,920,500.00	MT
NC	0.746	747	13,483,496.95	NC
				ND
NE	0.8	711	336,000.00	NE
NH	0.7382	738	1,528,750.00	NH
NJ	0.6765	724	13,819,983.19	NJ
NM	0.6999	775	292,800.00	NM
NV	0.6996	735	10,744,340.94	NV
NY	0.622	740	14,960,089.32	NY
OH	0.7175	725	16,123,727.43	OH
OK	0.7768	707	1,814,730.00	OK
OR	0.635	736	1,664,150.00	OR
				OT
PA	0.7115	740	7,726,325.00	PA
				PR
RI	0.8462	694	865,000.00	RI
SC	0.6368	750	3,928,152.33	SC
SD	0.7917	732	152,000.00	SD
TN	0.7319	740	4,928,475.39	TN
				TT
TX	0.7632	728	11,904,224.15	TX
UT	0.7736	725	3,448,527.00	UT
VA	0.708	740	13,379,815.68	VA
				VI
				VT
WA	0.7334	736	12,687,620.86	WA
WI	0.7247	764	456,320.00	WI
Total:	0.692	735	448,390,267.21	WV
				WY
Top
Selection Criteria: 2
Table of Contents
1. Mortgage Type
2. LTV
3. FICO
4. LTV w MI
5. Purpose
6. Occupancy
7. Loan Balance
8. Property Type
9. Documentation Type
10. Fixed Period
11. DTI
12. Geographic Distribution
1. Mortgage Type
Mortgage Type	WA LTV	WA FICO	Balance
Hybrid IO	0.7053	735	89,743,870.64
Total:	0.7053	735	89,743,870.64
Top
2. LTV
LTV	WA LTV	WA FICO	Balance
20.00 or less	0.1923	711	137,800.00
20.01 to 25.00	0.2353	758	200,000.00
25.01 to 30.00	0.2642	759	700,000.00
30.01 to 35.00	0.3274	767	1,227,000.00
35.01 to 40.00	0.3851	715	1,667,982.38
40.01 to 45.00	0.4308	742	3,372,290.00
45.01 to 50.00	0.4867	758	2,584,000.00
50.01 to 55.00	0.517	734	2,613,650.00
55.01 to 60.00	0.5832	757	4,080,450.00
60.01 to 65.00	0.6335	702	4,679,192.94
65.01 to 70.00	0.6849	731	13,569,505.00
70.01 to 75.00	0.7363	734	14,030,649.99
75.01 to 80.00	0.7939	737	37,107,700.33
80.01 to 85.00	0.8274	711	393,000.00
85.01 to 90.00	0.8885	733	1,419,800.00
90.01 to 95.00	0.9453	730	760,850.00
95.01 to 100.00	1	703	1,200,000.00
Total:	0.7053	735	89,743,870.64
Top
3. FICO
FICO	WA LTV	WA FICO	Balance
601 to 620	0.1873	611	50,000.00
621 to 640	0.7719	632	902,000.00
641 to 660	0.7796	655	2,047,285.00
661 to 680	0.7062	673	7,272,099.99
681 to 700	0.6967	691	13,834,670.00
701 to 720	0.7507	708	11,080,452.94
721 to 740	0.6782	729	7,603,449.00
741 to 760	0.6882	751	15,455,086.00
761 to 780	0.6902	770	19,438,911.00
781 to 800	0.7131	790	8,786,626.71
801 to 820	0.743	805	3,273,290.00
Total:	0.7053	735	89,743,870.64
Top
4. LTV w MI
LTV w
MI	MIG%	WA FICO	Balance
20.00 or less	0	0	0
20.01 to 25.00	0	0	0
25.01 to 30.00	0	0	0
30.01 to 35.00	0	0	0
35.01 to 40.00	0	0	0
40.01 to 45.00	0	0	0
45.01 to 50.00	0	0	0
50.01 to 55.00	0	0	0
55.01 to 60.00	0	0	0
60.01 to 65.00	0	0	0
65.01 to 70.00	0	0	0
70.01 to 75.00	0	0	0
75.01 to 80.00	0	0	0
80.01 to 85.00	100	711	393,000.00
85.01 to 90.00	100	733	1,419,800.00
90.01 to 95.00	100	730	760,850.00
95.01 to 100.00	0	0	0
Total:	2.8678	729	2,573,650.00
Top
5. Purpose
Purpose	WA LTV	WA FICO	Balance
Purchase	0.7631	739	40,705,693.33
Refinance (Rate-Term)	0.7028	733	20,764,094.38
Refinance (Cash-out)	0.6241	729	28,274,082.93
Total:	0.7053	735	89,743,870.64
Top
6. Occupancy
Occupancy	WA LTV	WA FICO	Balance
Primary	0.7055	735	79,294,776.31
Second Home	0.7418	743	8,066,364.33
Investment	0.5762	704	2,382,730.00
Total:	0.7053	735	89,743,870.64
Top
7. Loan Balance
Loan Balance	WA LTV	WA FICO	Balance
0.00 to 199,999.99	0.7092	734	8,952,059.64
200,000.00 to 399,999.99	0.721	737	29,533,619.00
400,000.00 to 599,999.99	0.7062	742	21,291,245.00
600,000.00 or greater	0.6881	728	29,966,947.00
Total:	0.7053	735	89,743,870.64
Top
8. Property Type
Property Type	WA LTV	WA FICO	Balance
Single Family	0.6947	737	50,318,972.93
Condominium	0.7287	727	9,671,897.33
Two-to-Four Family	0.688	764	688,000.00
Planned Unit Development	0.7163	732	29,065,000.38
Total:	0.7053	735	89,743,870.64
Top
9. Documentation Type
Documentation Type	WA LTV	WA FICO	Balance
Full Documentation	0.723	733	41,402,764.37
Alternative Documentation	0.7214	711	6,216,399.00
Reduced Documentation	0.7064	743	23,646,642.27
No Ratio	0.4717	737	250,000.00
No Income/No Asset	0.6973	736	645,000.00
Asset Verification/No Income Verification	0.6603	735	17,583,065.00
Total:	0.7053	735	89,743,870.64
Top
10. Fixed Period
Fixed Period	WA LTV	WA FICO	Balance
6	0.7053	735	89,743,870.64
Total:	0.7053	735	89,743,870.64
Top
11. DTI
DTI	WA LTV	WA FICO	Balance
0.00 or less	0.6107	691	2,524,500.00
0.01 to 5.00	0.8	762	562,320.00
5.01 to 10.00	0.7887	734	2,049,480.00
10.01 to 15.00	0.7353	774	2,716,387.38
15.01 to 20.00	0.6571	745	4,432,424.00
20.01 to 25.00	0.6917	759	8,797,766.33
25.01 to 30.00	0.7051	726	10,206,957.94
30.01 to 35.00	0.6762	725	15,381,803.99
35.01 to 40.00	0.7068	743	18,617,584.00
40.01 to 45.00	0.7337	729	15,676,600.00
45.01 to 50.00	0.6523	724	3,076,850.00
50.01 to 55.00	0.7744	701	3,573,000.00
55.01 or greater	0.782	758	2,128,197.00
Total:	0.7053	735	89,743,870.64
Top
12. Geographic Distribution
Geographic Distribution	WA LTV	WA FICO	Balance
AL	0.7803	779	431,590.00
AZ	0.6435	741	4,620,749.00
CA	0.6896	743	24,619,964.38
CO	0.6228	737	6,732,404.99
CT	0.7555	741	380,000.00
FL	0.7472	730	9,627,855.00
GA	0.74	710	1,624,052.94
HI	0.6977	727	852,374.00
IA	0.7478	728	430,000.00
ID	0.6865	747	219,000.00
IL	0.7082	748	2,077,294.33
KY	0.686	668	246,950.00
MA	0.6022	705	2,364,500.00
MD	0.7363	741	1,623,400.00
MI	0.7555	741	2,916,947.00
MN	0.6956	758	755,900.00
MO	0.7232	763	315,000.00
NC	0.7592	758	2,745,215.00
NH	0.8	633	772,000.00
NM	0.6768	749	492,400.00
NV	0.7347	725	2,091,399.00
NY	0.6269	718	3,099,800.00
OH	0.7808	710	4,070,365.00
OR	0.8	735	400,000.00
PA	0.6327	737	2,258,120.00
SC	0.7314	764	1,585,820.00
TN	0.5862	743	778,000.00
TX	0.7926	730	4,743,250.00
UT	0.6597	721	709,000.00
VA	0.7255	732	3,492,120.00
WA	0.7609	732	2,585,200.00
WI	0.8	698	83,200.00
Total:	0.7053	735	89,743,870.64
Top
Selection Criteria: 3
Table of Contents
1. Mortgage Type
2. LTV
3. FICO
4. LTV w MI
5. Purpose
6. Occupancy
7. Loan Balance
8. Property Type
9. Documentation Type
10. Fixed Period
11. DTI
12. Geographic Distribution
1. Mortgage Type
Mortgage Type	WA LTV	WA FICO	Balance
Hybrid IO	0.7861	732	177,637,031.27
Total:	0.7861	732	177,637,031.27
Top
2. LTV
LTV	WA LTV	WA FICO	Balance
20.00 or less	0.0564	719	420,764.22
20.01 to 25.00	0.2198	802	150,145.56
25.01 to 30.00	0.2774	699	291,440.74
30.01 to 35.00	0.329	774	1,514,700.43
35.01 to 40.00	0.3762	758	1,419,338.35
40.01 to 45.00	0.4396	755	3,692,542.57
45.01 to 50.00	0.4829	733	9,185,404.13
50.01 to 55.00	0.5323	712	5,753,620.15
55.01 to 60.00	0.5843	692	8,608,771.46
60.01 to 65.00	0.6208	765	11,608,256.91
65.01 to 70.00	0.69	727	13,135,411.10
70.01 to 75.00	0.7308	722	18,880,262.89
75.01 to 80.00	0.784	721	31,038,913.28
80.01 to 85.00	0.8258	757	5,019,650.84
85.01 to 90.00	0.8819	697	5,958,050.43
90.01 to 95.00	0.9362	735	5,322,407.83
95.01 to 100.00	0.998	743	55,637,350.38
Total:	0.7861	732	177,637,031.27
Top
3. FICO
FICO	WA LTV	WA FICO	Balance
<= 0	0.4619	0	660,986.61
461 to 480	0.7986	473	98,200.00
481 to 500	0.8047	482	158,304.74
501 to 520	0.7254	511	499,057.18
521 to 540	0.7551	536	502,479.68
541 to 560	0.7875	555	974,029.59
561 to 580	0.8271	566	816,900.12
581 to 600	0.8363	593	444,550.78
601 to 620	0.7607	611	4,260,994.95
621 to 640	0.7029	633	3,830,310.11
641 to 660	0.766	654	7,652,774.32
661 to 680	0.7952	670	12,025,084.26
681 to 700	0.7755	691	16,538,700.15
701 to 720	0.7509	711	21,989,510.82
721 to 740	0.8351	729	19,169,079.64
741 to 760	0.7558	752	20,638,886.22
761 to 780	0.8279	772	27,655,118.34
781 to 800	0.8151	790	25,819,451.93
801 to 820	0.7712	806	11,402,611.83
821 >=	0.6122	837	2,500,000.00
Total:	0.7861	732	177,637,031.27
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4. LTV w MI
LTV w
MI	MIG%	WA FICO	Balance
20.00 or less	0	0	0
20.01 to 25.00	0	0	0
25.01 to 30.00	0	0	0
30.01 to 35.00	0	0	0
35.01 to 40.00	0	0	0
40.01 to 45.00	0	0	0
45.01 to 50.00	0	0	0
50.01 to 55.00	0	0	0
55.01 to 60.00	0	0	0
60.01 to 65.00	0	0	0
65.01 to 70.00	0	0	0
70.01 to 75.00	0	0	0
75.01 to 80.00	0	0	0
80.01 to 85.00	40.7049	765	2,043,241.57
85.01 to 90.00	22.068	675	1,314,823.76
90.01 to 95.00	9.3024	688	495,109.44
95.01 to 100.00	0	0	0
Total:	2.1691	724	3,853,174.77
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5. Purpose
Purpose	WA LTV	WA FICO	Balance
Purchase	0.8369	736	112,627,747.11
Refinance (Rate-Term)	0.7436	716	22,734,176.03
Refinance (Cash-out)	0.6734	732	42,275,108.13
Total:	0.7861	732	177,637,031.27
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6. Occupancy
Occupancy	WA LTV	WA FICO	Balance
Primary	0.7841	730	159,309,244.39
Second Home	0.8111	748	14,026,945.42
Investment	0.7764	765	4,300,841.46
Total:	0.7861	732	177,637,031.27
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7. Loan Balance
Loan Balance	WA LTV	WA FICO	Balance
0.00 to 199,999.99	0.7773	734	24,820,460.18
200,000.00 to 399,999.99	0.8167	740	40,526,398.43
400,000.00 to 599,999.99	0.783	737	34,207,593.98
600,000.00 or greater	0.7743	726	78,082,578.68
Total:	0.7861	732	177,637,031.27
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8. Property Type
Property Type	WA LTV	WA FICO	Balance
Single Family	0.7767	729	126,141,794.03
Condominium	0.7956	731	16,712,721.02
Two-to-Four Family	0.731	773	2,546,991.57
Planned Unit Development	0.8222	744	32,235,524.65
Total:	0.7861	732	177,637,031.27
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9. Documentation Type
Documentation Type	WA LTV	WA FICO	Balance
Full Documentation	0.7863	732	174,217,523.64
Alternative Documentation	0.9825	743	766,151.73
Reduced Documentation	0.7134	750	2,653,355.90
Total:	0.7861	732	177,637,031.27
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10. Fixed Period
Fixed Period	WA LTV	WA FICO	Balance
1	0.7798	739	89,710,793.39
6	0.7925	726	87,926,237.88
Total:	0.7861	732	177,637,031.27
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11. DTI
DTI	WA LTV	WA FICO	Balance
0.00 or less	0.7861	732	177,637,031.27
Total:	0.7861	732	177,637,031.27
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12. Geographic Distribution
Geographic Distribution	WA LTV	WA FICO	Balance
AK	1	774	130,000.00
AL	0.5732	511	105,351.69
AR	0.892	622	241,709.13
AZ	0.78	720	4,202,702.77
CA	0.7847	738	32,564,721.03
CO	0.6971	744	3,123,004.12
CT	0.6758	742	12,929,908.09
DC	0.9404	751	1,713,672.36
DE	0.6249	812	91,875.95
FL	0.8115	747	18,015,655.50
GA	0.8639	720	5,364,697.59
HI	0.8513	766	1,573,437.50
ID	0.4345	620	93,654.73
IL	0.8216	741	2,458,652.10
IN	0.907	686	813,082.54
KS	0.8423	783	501,335.97
KY	0.7533	690	582,908.16
LA	0.7261	717	1,267,619.31
MA	0.7838	714	3,221,247.33
MD	0.8487	742	2,086,794.87
ME	0.8259	755	169,955.01
MI	0.6666	714	3,129,318.94
MN	0.7851	636	191,267.02
MO	0.9102	767	1,417,738.53
MS	0.7822	734	172,800.00
MT	0.4964	736	120,406.08
NC	0.8364	741	1,133,899.88
NE	0.7813	691	1,317,249.99
NH	0.8275	758	375,633.61
NJ	0.808	743	16,849,829.16
NM	0.8104	741	1,568,402.42
NV	0.5887	719	878,377.64
NY	0.7531	718	30,074,717.39
OH	0.8607	714	1,210,465.78
OK	0.9391	742	2,041,835.53
OR	0.7971	728	266,260.00
PA	0.8382	706	4,258,106.63
RI	1	739	149,349.48
SC	0.7864	706	1,411,297.10
TN	0.858	727	864,249.10
TX	0.8925	728	9,445,220.50
UT	0.7102	734	2,511,108.72
VA	0.8155	746	3,050,173.78
VI	0.5964	593	376,646.60
VT	0.6887	707	446,903.44
WA	0.6194	741	1,608,214.04
WI	0.8446	784	689,969.70
WV	0.8	657	175,803.98
WY	0.6842	685	649,800.48
Total:	0.7861	732	177,637,031.27
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S:\Home Equity\Data\Fred\Redwood\SEMT 2004-11\20041105\SEMT2004-11 20041105.cas
11/16/2004 10:52