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EX-10.1 3 f90804cexv10w1.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: APRIL 30, 2003 DISTRIBUTION DATE: MAY 20, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
- ------------------------------------------------------------------------------------------------------------- Certificate Certificate Class Pass-Through Beginning Interest Principal Current Class CUSIP Description Rate Certificate Balance Distribution Distribution Realized Loss - ------------------------------------------------------------------------------------------------------------- A 81744BAA4 SEN 1.77938% 1,054,245,333.95 1,563,252.54 9,730,870.67 0.00 X-1 81744BAB2 IO 0.83813% 0.00 171,861.28 0.00 0.00 X-2 81744BAC0 IO 1.20029% 0.00 825,196.93 0.00 0.00 A-R 81744BAD8 SEN 3.43039% 0.00 0.00 0.00 0.00 B-1 81744BAE6 SUB 2.17938% 16,815,000.00 30,538.56 0.00 0.00 B-2 81744BAF3 SUB 2.90275% 8,968,000.00 21,693.21 0.00 0.00 B-3 81744BAG1 SUB 2.90275% 6,165,000.00 14,912.87 0.00 0.00 B-4 SMT0212B4 SUB 2.90275% 2,802,000.00 6,777.92 0.00 0.00 B-5 SMT0212B5 SUB 2.90275% 1,681,000.00 4,066.27 0.00 0.00 B-6 SMT0212B6 SUB 2.90275% 4,486,095.46 10,851.67 0.00 0.00 - ------------------------------------------------------------------------------------------------------------- Totals 1,095,162,429.41 2,649,151.25 9,730,870.67 0.00 - ------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------- Ending Certificate Total Cumulative Class Balance Distribution Realized Loss - ---------------------------------------------------------- A 1,044,514,463.28 11,294,123.21 0.00 X-1 0.00 171,861.28 0.00 X-2 0.00 825,196.93 0.00 A-R 0.00 0.00 0.00 B-1 16,815,000.00 30,538.56 0.00 B-2 8,968,000.00 21,693.21 0.00 B-3 6,165,000.00 14,912.87 0.00 B-4 2,802,000.00 6,777.92 0.00 B-5 1,681,000.00 4,066.27 0.00 B-6 4,486,095.46 10,851.67 0.00 - ---------------------------------------------------------- Totals 1,085,431,558.74 12,380,021.92 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 1,054,245,333.95 0.00 9,730,870.67 0.00 0.00 9,730,870.67 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 1,095,162,429.41 0.00 9,730,870.67 0.00 0.00 9,730,870.67 - ------------------------------------------------------------------------------------------------------------ - --------------------------------------------------------------- Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - --------------------------------------------------------------- A 1,044,514,463.28 0.96707497 9,730,870.67 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 1,085,431,558.74 0.96827667 9,730,870.67 - ---------------------------------------------------------------
(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 Original Face Certificate Principal Principal Realized Total Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction - --------------------------------------------------------------------------------------------------------------- A 1,080,076,000.00 976.08439957 0.00000000 9.00943144 0.00000000 0.00000000 9.00943144 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 Certificate Certificate Total Principal Class Balance Percentage Distribution - --------------------------------------------------- A 967.07496813 0.96707497 9.00943144 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
- ------------------------------------------------------------------------------------------------------------ Payment of Non- Beginning Current Unpaid Current Supported Original Face Current Certificate/ Accrued Interest Interest Interest Class Amount Certificate Rate Notional Balance Interest Shortfall Shortfall Shortfall - ------------------------------------------------------------------------------------------------------------ A 1,080,076,000.00 1.77938% 1,054,245,333.95 1,563,252.55 0.00 0.00 0.00 X-1 0.00 0.83813% 246,064,901.67 171,861.28 0.00 0.00 0.00 X-2 0.00 1.20029% 824,995,432.28 825,196.93 0.00 0.00 0.00 A-R 100.00 3.43039% 0.00 0.00 0.00 0.00 0.00 B-1 16,815,000.00 2.17938% 16,815,000.00 30,538.56 0.00 0.00 0.00 B-2 8,968,000.00 2.90275% 8,968,000.00 21,693.21 0.00 0.00 0.00 B-3 6,165,000.00 2.90275% 6,165,000.00 14,912.87 0.00 0.00 0.00 B-4 2,802,000.00 2.90275% 2,802,000.00 6,777.92 0.00 0.00 0.00 B-5 1,681,000.00 2.90275% 1,681,000.00 4,066.27 0.00 0.00 0.00 B-6 4,486,095.46 2.90275% 4,486,095.46 10,851.67 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------ Totals 1,120,993,195.46 2,649,151.26 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - ------------------------------------------------------------- A 0.00 1,563,252.54 0.00 1,044,514,463.28 X-1 0.00 171,861.28 0.00 244,581,472.45 X-2 0.00 825,196.93 0.00 816,747,990.83 A-R 0.00 0.00 0.00 0.00 B-1 0.00 30,538.56 0.00 16,815,000.00 B-2 0.00 21,693.21 0.00 8,968,000.00 B-3 0.00 14,912.87 0.00 6,165,000.00 B-4 0.00 6,777.92 0.00 2,802,000.00 B-5 0.00 4,066.27 0.00 1,681,000.00 B-6 0.00 10,851.67 0.00 4,486,095.46 - ------------------------------------------------------------- Totals 0.00 2,649,151.25 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
- ------------------------------------------------------------------------------------------------------------ Payment of Non- Current Beginning Unpaid Current Supported Class Original Face Certificate Certificate Current Accrued Interest Interest Interest (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall - ------------------------------------------------------------------------------------------------------------ A 1,080,076,000.00 1.77938% 976.08439957 1.44735421 0.00000000 0.00000000 0.00000000 X-1 0.00 0.83813% 985.38555157 0.68823152 0.00000000 0.00000000 0.00000000 X-2 0.00 1.20029% 973.81747070 0.97405532 0.00000000 0.00000000 0.00000000 A-R 100.00 3.43039% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 2.17938% 1000.00000000 1.81614987 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 2.90275% 1000.00000000 2.41895740 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 2.90275% 1000.00000000 2.41895702 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 2.90275% 1000.00000000 2.41895789 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 2.90275% 1000.00000000 2.41895895 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 2.90275% 1000.00000000 2.41895655 0.00000000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------ Remaining Unpaid Class Realized Total Interest Interest Ending Certificate/ (5) Loss (6) Distribution Shortfall Notational Balance - ------------------------------------------------------------------ A 0.00000000 1.44735420 0.00000000 967.07496813 X-1 0.00000000 0.68823152 0.00000000 979.44504681 X-2 0.00000000 0.97405532 0.00000000 964.08226217 A-R 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1.81614987 0.00000000 1000.00000000 B-2 0.00000000 2.41895740 0.00000000 1000.00000000 B-3 0.00000000 2.41895702 0.00000000 1000.00000000 B-4 0.00000000 2.41895789 0.00000000 1000.00000000 B-5 0.00000000 2.41895895 0.00000000 1000.00000000 B-6 0.00000000 2.41895655 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 12,724,589.60 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 12,724,589.60 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 344,567.68 Payment of Interest and Principal 12,380,021.92 ------------- Total Withdrawals (Pool Distribution Amount) 12,724,589.60 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 0.01 ====
SERVICING FEES Gross Servicing Fee 344,567.68 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 344,567.68 ==========
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 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 % Bankruptcy 218,860.00 0.01952376% 218,860.00 0.02016341% Fraud 33,629,796.00 3.00000001% 33,629,796.00 3.09828802% Special Hazard 11,209,932.00 1.00000000% 10,854,315.59 1.00000000%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.280301% Weighted Average Net Coupon 2.902749% Weighted Average Pass-Through Rate 2.902749% Weighted Average Maturity (Stepdown Calculation) 321 Beginning Scheduled Collateral Loan Count 3,130 Number of Loans Paid in Full 24 Ending Scheduled Collateral Loan Count 3,106 Beginning Scheduled Collateral Balance 1,095,162,429.41 Ending Scheduled Collateral Balance 1,085,431,558.74 Ending Actual Collateral Balance at 30-Apr-2003 1,085,432,609.43 Monthly P&I Constant 2,993,718.92 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 1,085,431,558.74 Scheduled Principal 0.00 Unscheduled Principal 9,730,870.67
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 250,135,757.15 Principal Balance of 6-Month Libor Loans 835,295,801.59 Pro Rata Senior Percentage 96.263833% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Payment Received from Cap Provide 0