SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                               ------------------

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934

                                  May 20, 2004
                Date of Report (Date of Earliest Event Reported)

                        SEQUOIA RESIDENTIAL FUNDING, INC.
  (as Depositor of Sequoia Mortgage Trust 2003-2, the Issuer of Mortgage Pass-
          Through Certificates under a Pooling and Servicing Agreement
                           dated as of April 1, 2003)

                        SEQUOIA RESIDENTIAL FUNDING, INC.
                        ---------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

          Delaware                    333-103634                 35-2170972
          --------                    ----------                 ----------
(State or Other Jurisdiction   (Commission File Number)       (I.R.S. Employer
     of Incorporation)                                       Identification No.)

              One Belvedere Place, Suite 330, Mill Valley, CA 94941
              -----------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (415) 381-1765
                                 --------------
                         (Registrant's Telephone Number,
                              Including Area Code)

             591 Redwood Highway, Suite 3160, Mill Valley, CA 94941
             ------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)



                    INFORMATION TO BE INCLUDED IN THE REPORT

Item 5.     OTHER EVENTS

            Sequoia Residential Funding, Inc. has previously registered the
            offer and sale of Mortgage Pass-Through Certificates issued by
            Sequoia Mortgage Trust 2003-2 (the "Certificates").

            The following exhibit which relates specifically to the Certificates
            is included with this Current Report:

Item 7(c).  Exhibits

            10.1  Monthly Payment Date Statement relating to the distribution to
                  Certificateholders, May 20, 2004.



                                    SIGNATURE

      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 thereunto duly authorized.

Date: June 4, 2004

                                     SEQUOIA RESIDENTIAL FUNDING, INC.

                                      By:  /s/ Harold F. Zagunis
                                         ---------------------------------------
                                         Harold F. Zagunis
                                         Chief Financial Officer, Treasurer
                                         and Secretary



                                  EXHIBIT INDEX



                                         Exhibit Number                                             Page Number
                                         --------------                                             -----------
                                                                                                 
10.1  Monthly Payment Date Statement relating to the distribution to Certificateholders,
      May 20, 2004..........................................................................             5