Wells Fargo Bank Minnesota, N.A. SMT Series 2003-1 Certificateholder Distribution Statement (August–September 2003)

Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2003-1 trust. It summarizes the interest and principal payments made to certificateholders for the period ending September 22, 2003, in accordance with the Pooling and Servicing Agreement. The statement details the amounts distributed to each class of certificates, the beginning and ending balances, and confirms that all required distributions have been made. No realized losses are reported for this period.

EX-10.1 3 f93523fexv10w1.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 2003-1 RECORD DATE: AUGUST 29, 2003 DISTRIBUTION DATE: SEPTEMBER 22, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY

All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT

(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

(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

(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

(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 0.00 Deposits Payments of Interest and Principal 17,939,149.61 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 17,939,149.61 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 312,224.71 Payment of Interest and Principal 17,626,924.90 ------------- Total Withdrawals (Pool Distribution Amount) 17,939,149.61 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 0.00 ==========~~

SERVICING FEES ~~Gross Servicing Fee 304,164.86 Master Servicing Fee 8,059.85 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 312,224.71 ==========~~

Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ --------- ----------- -------- -------- ~~Class X-1 Reserve Fund Sub Account 5,000.00 0.00 0.00 5,000.00 Class X-2 Reserve Fund Sub Account 2,500.00 0.00 0.00 2,500.00 Class X-B Reserve Fund Sub Account 2,500.00 0.00 0.00 2,500.00~~
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 0 0.00 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 -------- -------- -------- -------- -------- -------- 0 0.00 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 0.000000% 0.000000% 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% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 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 0 0.00 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 0 0.00 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 0.000000% 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% 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% 0.000000% 0.000000%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Original $ Original % Current $ Current % Current Class % Prepayment % ---------------- ------------ -------------- ------------- --------------- ------------ Class A 1,026,174,618.00 99.99999026% 951,644,185.86 100.00000000% 96.010209% 0.000000% Class 1A 227,968,618.00 22.21538048% 214,187,803.35 22.50713098% 77.492869% 1,942.278706% Class 2A 37,968,618.00 3.70001495% 37,968,618.00 3.98979141% 18.517340% 464.117986% Class X-2 37,968,618.00 3.70001495% 37,968,618.00 3.98979141% 0.000000% 0.000000% Class B-1 22,063,618.00 2.15008396% 22,063,618.00 2.31847347% 1.671318% 41.889858% Class B-2 13,853,618.00 1.35002527% 13,853,618.00 1.45575607% 0.862717% 21.623120% Class B-3 8,209,618.00 0.80002146% 8,209,618.00 0.86267726% 0.593079% 14.864908% Class B-4 5,644,618.00 0.55006403% 5,644,618.00 0.59314375% 0.269534% 6.755579% Class B-5 4,105,618.00 0.40008957% 4,105,618.00 0.43142364% 0.161720% 4.053347% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.431424% 10.813188%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP POOL 1
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 0 0.00 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 -------- -------- -------- -------- -------- -------- 0 0.00 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 0.000000% 0.000000% 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% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 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 0 0.00 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 0 0.00 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 0.000000% 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% 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% 0.000000% 0.000000%
POOL 2
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 0 0.00 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 -------- -------- -------- -------- -------- -------- 0 0.00 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 0.000000% 0.000000% 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% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 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 0 0.00 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 0 0.00 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 0.000000% 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% 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% 0.000000% 0.000000%
COLLATERAL STATEMENT Collateral Description Mixed Arm Weighted Average Gross Coupon 2.980257% Weighted Average Net Coupon 2.602874% Weighted Average Pass-Through Rate 2.592874% Weighted Average Maturity (Stepdown Calculation) 320 Beginning Scheduled Collateral Loan Count 2,739 Number of Loans Paid in Full 37 Ending Scheduled Collateral Loan Count 2,702 Beginning Scheduled Collateral Balance 967,181,294.44 Ending Scheduled Collateral Balance 951,644,185.86 Ending Actual Collateral Balance at 29-Aug-2003 951,646,197.21 Monthly P&I Constant 2,402,047.33 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 17,544,883.72 Ending Scheduled Balance for Premium Loans 951,644,185.86 Scheduled Principal 6.29 Unscheduled Principal 15,537,102.29

MISCELLANEOUS REPORTING Cap Agreement Deposit - 1 month Libor Loan 0 Cap Agreement Deposit - 6 month Libor Loan 0
GROUP 1 2 TOTAL 6 Month Collateral Description Mixed ARM LIBOR ARM Mixed ARM Weighted Average Coupon Rate 2.967619 3.033560 2.980257 Weighted Average Net Rate 2.589671 2.658560 2.602874 Pass-Through Rate 2.579671 2.648560 2.592874 Weighted Average Maturity 318 326 320 Record Date 08/29/2003 08/29/2003 08/29/2003 Principal and Interest Constant 1,933,435.63 468,611.70 2,402,047.33 Beginning Loan Count 2,187 552 2,739 Loans Paid in Full 32 5 37 Ending Loan Count 2,155 547 2,702 Beginning Scheduled Balance 781,810,693.97 185,370,600.47 967,181,294.44 Ending Scheduled Balance 768,125,158.51 183,519,027.35 951,644,185.86 Scheduled Principal 5.23 1.06 6.29 Unscheduled Principal 13,685,530.23 1,851,572.06 15,537,102.29 Scheduled Interest 1,933,430.40 468,610.64 2,402,041.04 Servicing Fee 246,236.55 57,928.31 304,164.86 Master Servicing Fee 6,515.11 1,544.74 8,059.85 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 1,680,678.74 409,137.59 2,089,816.33 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00
MISCELLANEOUS REPORTING Group Pool 1 One Month Libor Loan Balance 173,743,094.88 Six Month Libor Loan Balance 594,382,063.63 Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Group Pool 2 Six Month Libor Loan Balance 185,519,027.35 Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000%