EX-10.1 3 f89897exv10w1.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 2002-8 RECORD DATE: MARCH 31, 2003 DISTRIBUTION DATE: APRIL 21, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Pass- Beginning Real- Current Ending Cumulative Class Through Certificate Interest Principal ized Certificate Total Realized Class CUSIP Description Rate Balance Distribution Distribution Loss Balance Distribution Loss ----- ----- ----------- -------- ------- ------------ ------------ ---- ------- ------------ ---- 1-A1 81743RAA0 SEN 1.41375% 14,039,638.05 17,653.15 4,365,394.46 0.00 9,674,243.59 4,383,037.61 0.00 1-A2 81743RAB8 SEN 3.45500% 61,468,000.00 176,976.62 0.00 0.00 61,468,000.00 176,976.62 0.00 2A 81743RAC6 SEN 1.58375% 434,819,140.98 573,870.68 3,934,522.64 0.00 430,884,618.34 4,508,393.32 0.00 3A 81743RAD4 SEN 3.31529% 46,434,016.93 128,285.31 1,414,792.46 0.00 45,019,224.47 1,543,077.77 0.00 X-1 81743RAE2 IO 2.21589% 0.00 139,430.57 0.00 0.00 0.00 139,430.57 0.00 X-2A 81743RAFf9 IO 1.12581% 0.00 165,685.32 0.00 0.00 0.00 165,685.32 0.00 X-2B 81743AFG7 IO 1.55718% 0.00 335,072.31 0.00 0.00 0.00 335,072.31 0.00 X-B 81743RAH5 IO 1.45307% 0.00 10,981.59 0.00 0.00 0.00 10,981.59 0.00 A-R 81743RAJ1 SEN 5.37359% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 81743RAK8 SUB 1.95875% 9,069,000.00 14,803.25 0.00 0.00 9,069,000.00 14,803.25 0.00 B-2 81743RAL6 SUB 3.41182% 5,505,000.00 15,651.73 0.00 0.00 5,505,000.00 15,651.73 0.00 B-3 81743RAM4 SUB 3.41182% 3,886,000.00 11,048.62 0.00 0.00 3,886,000.00 11,048.62 0.00 B-4 SMT0208B4 SUB 3.41182% 1,618,000.00 4,600.27 0.00 0.00 1,618,000.00 4,600.27 0.00 B-5 SMT0208B5 SUB 3.41182% 970,000.00 2,757.89 0.00 0.00 970,000.00 2,757.89 0.00 B-6 SMT0208B6 SUB 3.41182% 2,306,324.82 6,557.31 0.00 0.00 2,306,324.82 6,557.31 0.00 Totals 580,115,120.78 1,603,364.62 9,714,709.56 0.00 570,400,411.22 11,318,074.18 00.00
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
(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 11,499,353.91 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 635.05 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 11,499,988.96 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 181,914.78 Payment of Interest and Principal 11,318,074.18 ------------- Total Withdrawals (Pool Distribution Amount) 11,499,988.96 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 =============
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- Class X-1 Basis Risk Reserve Fund 2,500.00 0.00 0.00 2,500.00 Class X-2 Basis Risk Reserve Fund 5,000.00 0.00 0.00 5,000.00 Class X-B Basis Risk Reserve Fund 2,500.00 0.00 0.00 2,500.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO TOTAL No. of Principal No. of Principal No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance Loans Balance Loans Balance ----- ------- ----- ------- ----- ------- ----- ------- ----- ------- 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 1 82,500.00 30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00 30 Days 1 82,500.00 60 Days 1 161,500.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 1 161,500.00 90 Days 0 0.00 90 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 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 2 244,000.00 0 0.00 0 0.00 0 0.00 2 244,000.00
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 0.067295% 0.014464% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.067295% 0.028313% 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% 0.134590% 0.042777% 0.000000% 0.000000% 0.000000% 0.000000%
No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 30 Days 0.000000% 0.000000% 30 Days 0.067295% 0.014464% 60 Days 60 Days 0.000000% 0.000000% 60 Days 0.067295% 0.028313% 90 Days 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.134590% 0.042777%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 635.05
Original $ Original% Current $ Current % Current Class % Prepayment % ---------- --------- --------- --------- --------------- ------------ Class A 647,892,324.82 99.99998457% 570,400,411.22 100.00000000% 95.905626% 0.000000% Class 1-A-1 597,892,324.82 92.28265402% 560,726,167.63 98.30395571% 1.696044% 41.423778% Class 1-A-2 536,424,324.82 82.79527654% 499,258,167.63 87.52766615% 10.776290% 263.197504% Class 2A 73,327,324.82 11.31782407% 68,373,549.29 11.98693899% 75.540727% 1,844.988548% Class 3A 23,354,324.82 3.60466089% 23,354,324.82 4.09437377% 7.892565% 192.766114% Class X-1 23,354,324.82 3.60466089% 23,354,324.82 4.09437377% 0.000000% 0.000000% Class B-1 14,285,324.82 2.20489147% 14,285,324.82 2.50443803% 1.589936% 38.832208% Class B-2 8,780,324.82 1.35521338% 8,780,324.82 1.53932652% 0.965112% 23.571651% Class B-3 4,894,324.82 0.75542245% 4,894,324.82 0.85805072% 0.681276% 16.639316% Class B-4 3,276,324.82 0.50568963% 3,276,324.82 0.57439033% 0.283660% 6.928053% Class B-5 2,306,324.82 0.35597342% 2,306,324.82 0.40433435% 0.170056% 4.153406% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.404334% 9.875365%
Please refer to the prospectus supplement for a full description of loss exposure
Original $ Original % Current $ Current % Bankruptcy 126,045.00 0.01945462% 126,045.00 0.02209763% Fraud 19,436,773.00 3.00000004% 19,436,773.00 3.40756644% Special Hazard 15,500,000.00 2.39237247% 15,499,500.00 2.71730169%
Limit of subordinate's exposure to certain types of losses DELINQUENCY STATUS BY GROUP GROUP 1
DELINQUENT BANKRUPTCY ---------- ---------- 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%
FORECLOSURE REO TOTAL ----------- --- ----- 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%
GROUP 2
DELINQUENT BANKRUPTCY ---------- ---------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 1 82,500.00 30 Days 0 0.00 60 Days 1 161,500.00 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 2 244,000.00 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 0.083893% 0.018408% 30 Days 0.000000% 0.000000% 60 Days 0.083893% 0.036035% 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% 0.167785% 0.054443% 0.000000% 0.000000%
FORECLOSURE REO TOTAL ----------- --- ----- 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 1 82,500.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 1 161,500.00 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 2 244,000.00
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 0.083893% 0.018408% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.083893% 0.036035% 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% 0.167785% 0.054443%
Group 3
DELINQUENT BANKRUPTCY ---------- ---------- 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%
FORECLOSURE REO TOTAL ----------- --- ----- 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%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.692949% Weighted Average Net Coupon 3.325648% Weighted Average Pass-Through Rate 3.316648% Weighted Average Maturity (Stepdown Calculation) 323 Beginning Scheduled Collateral Loan Count 1,510 Number of Loans Paid in Full 24 Ending Scheduled Collateral Loan Count 1,486 Beginning Scheduled Collateral Balance 580,115,120.78 Ending Scheduled Collateral Balance 570,400,411.22 Ending Actual Collateral Balance at 31-Mar-2003 570,400,586.38 Monthly P&I Constant 1,786,237.73 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 11,251,673.51 Ending Scheduled Balance for Premium Loans 570,400,411.22 Scheduled Principal 958.34 Unscheduled Principal 9,713,751.22
MISCELLANEOUS REPORTING
One Month Libor Loan Balance 181,920,870.40 Six Month Libor Loan Balance - POOL 1 74,946,511.32 Six Month Libor Loan Balance - POOL 2 266,257,835.68 Six Month Libor Loan Balance - POOL 3 46,916,178.66 Pro Rata Senior Percent 95.974191% Senior Percentage 100.000000% Senior Prepay Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%