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EX-10.1 3 f93523eexv10w1.txt EXHIBIT 10.1 EXHIBIT 10.1 CONTACT: CUSTOMER SERVICES -- CTSLINK WELLS FARGO BANK MINNESOTA, N.A. SECURITIES ADMINISTRATION SERVICES 7485 NEW HORIZON WAY FREDERICK, MD 21703 WWW.CTSLINK.COM TELEPHONE: (301) 815-6600 FAX: (301) 315-6660 SMT SERIES 2002-12 RECORD DATE: AUGUST 29, 2003 DISTRIBUTION DATE: SEPTEMBER 22, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Current Class Pass-Through Certificate Interest Principal Realized Class CUSIP Description Rate Balance Distribution Distribution Loss - ------- --------- ----------- ------------ ---------------- -------------- ------------- --------- A 81744BAA4 SEN 1.56000% 1,007,163,875.27 1,309,313.03 17,725,516.85 0.00 X-1 81744BAB2 IO 0.80442% 0.00 160,685.93 0.00 0.00 X-2 81744BAC0 IO 1.15245% 0.00 753,195.84 0.00 0.00 A-R 81744BAD8 SEN 3.16542% 0.00 0.00 0.00 0.00 B-1 81744BAE6 SUB 1.96000% 16,815,000.00 27,464.50 0.00 0.00 B-2 81744BAF3 SUB 2.63755% 8,968,000.00 19,711.26 0.00 0.00 B-3 81744BAG1 SUB 2.63755% 6,165,000.00 13,550.39 0.00 0.00 B-4 SMT0212B4 SUB 2.63755% 2,802,000.00 6,158.67 0.00 0.00 B-5 SMT0212B5 SUB 2.63755% 1,681,000.00 3,694.76 0.00 0.00 B-6 SMT0212B6 SUB 2.63755% 4,486,095.46 9,860.24 0.00 0.00 ------------ ------------------- -------------- ------------- --------- Totals 1,048,080,970.73 2,303,634.62 17,725,516.85 0.00 ------------ ------------------- -------------- ------------- --------- Ending Certificate Total Cumulative Class Balance Distribution Realized Loss - ------- ---------------- ------------- -------------- A 989,438,358.42 19,034,829.88 0.00 X-1 0.00 160,685.93 0.00 X-2 0.00 753,195.84 0.00 A-R 0.00 0.00 0.00 B-1 16,815,000.00 27,464.50 0.00 B-2 8,968,000.00 19,711.26 0.00 B-3 6,165,000.00 13,550.39 0.00 B-4 2,802,000.00 6,158.67 0.00 B-5 1,681,000.00 3,694.76 0.00 B-6 4,486,095.46 9,860.24 0.00 ---------------- ------------- -------------- Totals 1,030,355,453.88 20,029,151.47 0.00 ---------------- ------------- --------------
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Realized Total Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - --------- ---------------- ---------------- ------------ -------------- --------- ---------- --------------- A 1,080,076,000.00 1,007,163,875.27 0.00 17,725,516.85 0.00 0.00 17,725,516.85 X-1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 16,815,000.00 16,815,000.00 0.00 0.00 0.00 0.00 0.00 B-2 8,968,000.00 8,968,000.00 0.00 0.00 0.00 0.00 0.00 B-3 6,165,000.00 6,165,000.00 0.00 0.00 0.00 0.00 0.00 B-4 2,802,000.00 2,802,000.00 0.00 0.00 0.00 0.00 0.00 B-5 1,681,000.00 1,681,000.00 0.00 0.00 0.00 0.00 0.00 B-6 4,486,095.46 4,486,095.46 0.00 0.00 0.00 0.00 0.00 ---------------- ---------------- ------------ -------------- --------- ---------- --------------- Totals 1,120,993,195.46 1,048,080,970.73 0.00 17,725,516.85 0.00 0.00 17,725,516.85 ---------------- ---------------- ------------ -------------- --------- ---------- --------------- Ending Ending Total Certificate Certificate Principal Class Balance Percentage Distribution - --------- ----------------- -------------- ------------- A 989,438,358.42 0.91608216 17,725,516.85 X-1 0.00 0.00000000 0.00 X-2 0.00 0.00000000 0.00 A-R 0.00 0.00000000 0.00 B-1 16,815,000.00 1.00000000 0.00 B-2 8,968,000.00 1.00000000 0.00 B-3 6,165,000.00 1.00000000 0.00 B-4 2,802,000.00 1.00000000 0.00 B-5 1,681,000.00 1.00000000 0.00 B-6 4,486,095.46 1.00000000 0.00 ----------------- -------------- ------------- Totals 1,030,355,453.88 0.91914515 17,725,516.85 ----------------- -------------- -------------
(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. PRINCIPAL DISTRIBUTION FACTORS STATEMENT
Beginning Scheduled Unscheduled Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss(3) Reduction - ---------- ---------------- ------------- ------------ ------------- ---------- ---------- ------------ A 1,080,076,000.00 932.49352385 0.00000000 16.41136073 0.00000000 0.00000000 16.41136073 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Total Certificate Certificate Principal Class Balance Percentage Distribution - --------- ------------- ------------ ------------ A 916.08216313 0.91608216 16.41136073 X-1 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 0.00000000 B-2 1000.00000000 1.00000000 0.00000000 B-3 1000.00000000 1.00000000 0.00000000 B-4 1000.00000000 1.00000000 0.00000000 B-5 1000.00000000 1.00000000 0.00000000 B-6 1000.00000000 1.00000000 0.00000000
(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. INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Current Certificate/ Current Unpaid Current Original Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall - ---------- ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- A 1,080,076,000.00 1.56000% 1,007,163,875.27 1,309,313.04 0.00 0.00 X-1 0.00 0.80442% 239,705,205.53 160,685.93 0.00 0.00 X-2 0.00 1.15245% 784,273,669.74 753,195.84 0.00 0.00 A-R 100.00 3.16542% 0.00 0.00 0.00 0.00 B-1 16,815,000.00 1.96000% 16,815,000.00 27,464.50 0.00 0.00 B-2 8,968,000.00 2.63755% 8,968,000.00 19,711.26 0.00 0.00 B-3 6,165,000.00 2.63755% 6,165,000.00 13,550.39 0.00 0.00 B-4 2,802,000.00 2.63755% 2,802,000.00 6,158.67 0.00 0.00 B-5 1,681,000.00 2.63755% 1,681,000.00 3,694.76 0.00 0.00 B-6 4,486,095.46 2.63755% 4,486,095.46 9,860.24 0.00 0.00 ---------------- ---------------- ---------------- ---------------- Totals 1,120,993,195.46 2,303,634.63 0.00 0.00 ---------------- ---------------- ---------------- ---------------- Non- Remaining Ending Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss(4) Distribution Shortfall Balance - ---------- ---------------- ---------------- ---------------- ---------------- ---------------- A 0.00 0.00 1,309,313.03 0.00 989,438,358.42 X-1 0.00 0.00 160,685.93 0.00 238,519,919.41 X-2 0.00 0.00 753,195.84 0.00 767,733,439.01 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 27,464.50 0.00 16,815,000.00 B-2 0.00 0.00 19,711.26 0.00 8,968,000.00 B-3 0.00 0.00 13,550.39 0.00 6,165,000.00 B-4 0.00 0.00 6,158.67 0.00 2,802,000.00 B-5 0.00 0.00 3,694.76 0.00 1,681,000.00 B-6 0.00 0.00 9,860.24 0.00 4,486,095.46 ---------------- ---------------- ---------------- ---------------- Totals 0.00 0.00 2,303,634.62 0.00 ---------------- ---------------- ---------------- ----------------
(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. INTEREST DISTRIBUTION FACTORS STATEMENT
Beginning Payment of Current Certificate Current Unpaid Current Original Face Certificate Notional Accrued Interest Interest Class(5) Amount Rate Balance Interest Shortfall Shortfall - ------- ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- A 1,080,076,000.00 1.56000% 932.49352385 1.21224158 0.00000000 0.00000000 X-1 0.00 0.80442% 959.91766628 0.64347899 0.00000000 0.00000000 X-2 0.00 1.15245% 925.74985451 0.88906585 0.00000000 0.00000000 A-R 100.00 3.16542% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1.96000% 1000.00000000 1.63333333 0.00000000 0.00000000 B-2 8,968,000.00 2.63755% 1000.00000000 2.19795495 0.00000000 0.00000000 B-3 6,165,000.00 2.63755% 1000.00000000 2.19795458 0.00000000 0.00000000 B-4 2,802,000.00 2.63755% 1000.00000000 2.19795503 0.00000000 0.00000000 B-5 1,681,000.00 2.63755% 1000.00000000 2.19795360 0.00000000 0.00000000 B-6 4,486,095.46 2.63755% 1000.00000000 2.19795590 0.00000000 0.00000000 Non- Remaining Ending Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notational Class(5) Shortfall Loss(6) Distribution Shortfall Balance - ------- ---------------- ---------------- ---------------- ---------------- ---------------- A 0.00000000 0.00000000 1.21224157 0.00000000 916.08216313 X-1 0.00000000 0.00000000 0.64347899 0.00000000 955.17109816 X-2 0.00000000 0.00000000 0.88906585 0.00000000 906.22590926 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.63333333 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.19795495 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.19795458 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.19795503 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.19795360 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.19795590 0.00000000 1000.00000000
(5) Per $1 denomination (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. CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance Deposits Payments of Interest and Principal 20,358,641.52 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 364.13 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 20,359,005.65 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 329,854.19 Payment of Interest and Principal 20,029,151.46 ------------- Total Withdrawals (Pool Distribution Amount) 20,359,005.65 Ending Balance 0.00 =============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 ------------ Non-Supported Prepayment Curtailment Interest Shortfall 0.02 ============
SERVICING FEES Gross Servicing Fee 329,854.19 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------ Net Servicing Fee 329,854.19 ============
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------------------- ------------ ------------ ------------ ------------ Reserve Fund 10,000.00 0.00 0.00 10,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------------- --------------------------------------- ----------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 1 151,981.58 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 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 ----------- ----------- ----------- ------------ ----------- -------------- 1 151,981.58 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.033818% 0.014750% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 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% ----------- ----------- ----------- ------------ ----------- -------------- 0.033818% 0.014750% 0.000000% 0.000000% 0.000000% 0.000000% REO TOTAL -------------------------------------------- --------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 1 151,981.58 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 ----------- ----------- ------------ ----------- 0 0.00 1 151,981.58 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.033818% 0.014750% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 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% ----------- ----------- ------------ ----------- 0.000000% 0.000000% 0.033818% 0.014750%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 364.13
Original $ Original % Current $ Current % Bankruptcy 218,860.00 0.01952376% 218,860.00 0.02124121% Fraud 33,629,796.00 3.00000001% 33,629,796.00 3.26390236% Special Hazard 11,209,932.00 1.00000000% 10,303,554.54 1.00000000%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.015212% Weighted Average Net Coupon 2.637546% Weighted Average Pass-Through Rate 2.637546% Weighted Average Maturity (Stepdown Calculation) 317 Beginning Scheduled Collateral Loan Count 3,000 Number of Loans Paid in Full 43 Ending Scheduled Collateral Loan Count 2,957 Beginning Scheduled Collateral Balance 1,048,080,970.73 Ending Scheduled Collateral Balance 1,030,355,453.88 Ending Actual Collateral Balance at 29-Aug-2003 1,030,357,509.92 Monthly P&I Constant 2,633,488.79 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 1,030,355,453.88 Scheduled Principal 0.00 Unscheduled Principal 17,725,516.85
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 244,233,023.19 Principal Balance of 6-Month Libor Loans 786,122,430.69 Pro Rata Senior Percentage 96.095999% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Payment Received from Cap Provide 0