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

                                  June 21, 2004
                Date of Report (Date of Earliest Event Reported)

                        SEQUOIA RESIDENTIAL FUNDING, INC.
  (as Depositor of Sequoia Mortgage Trust 2004-1, the Issuer of Mortgage Pass-
          Through Certificates under a Pooling and Servicing Agreement
                          dated as of January 1, 2004)

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

           Delaware                  333-103634-01              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)

                                 Not Applicable
                                 --------------
          (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 2004-1 (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, June 21, 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: July 6, 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, June 21, 2004.................................       5