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EX-10.1 3 f89901exv10w1.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: MARCH 31, 2003 DISTRIBUTION DATE: APRIL 21, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution - ----------- --------- ----------- ------------ ---------------- -------------- -------------- A 81744BAA4 SEN 1.73375% 1,064,445,319.86 1,537,901.73 10,199,985.91 X-1 81744BAB2 IO 0.88498% 0.00 181,793.95 0.00 X-2 81744BAC0 IO 1.39251% 0.00 968,667.49 0.00 A-R 81744BAD8 SEN 3.42154% 0.00 0.00 0.00 B-1 81744BAE6 SUB 2.13375% 16,815,000.00 29,899.17 0.00 B-2 81744BAF3 SUB 3.01677% 8,968,000.00 22,545.34 0.00 B-3 81744BAG1 SUB 3.01677% 6,165,000.00 15,498.66 0.00 B-4 SMT0212B4 SUB 3.01677% 2,802,000.00 7,044.16 0.00 B-5 SMT0212B5 SUB 3.01677% 1,681,000.00 4,225.99 0.00 B-6 SMT0212B6 SUB 3.01677% 4,486,095.46 11,277.94 0.00 - ----------- --------- ----------- ------------ ---------------- -------------- -------------- Totals 1,105,362,415.32 2,778,854.43 10,199,985.91 - ----------- --------- ----------- ------------ ---------------- -------------- --------------
Ending Current Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ----------- --------- --------------- ---------------- ------------- -------------- A 81744BAA4 0.00 1,054,245,333.95 11,737,887.64 0.00 X-1 81744BAB2 0.00 0.00 181,793.95 0.00 X-2 81744BAC0 0.00 0.00 968,667.49 0.00 A-R 81744BAD8 0.00 0.00 0.00 0.00 B-1 81744BAE6 0.00 16,815,000.00 29,899.17 0.00 B-2 81744BAF3 0.00 8,968,000.00 22,545.34 0.00 B-3 81744BAG1 0.00 6,165,000.00 15,498.66 0.00 B-4 SMT0212B4 0.00 2,802,000.00 7,044.16 0.00 B-5 SMT0212B5 0.00 1,681,000.00 4,225.99 0.00 B-6 SMT0212B6 0.00 4,486,095.46 11,277.94 0.00 - ----------- --------- --------------- ---------------- ------------- -------------- Totals 0.00 1,095,162,429.41 12,978,840.34 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 Class Amount Balance Distribution Distribution Accretion Loss (1) - ---------- ---------------- ---------------- ------------ -------------- ---------- ---------- A 1,080,076,000.00 1,064,445,319.86 694.88 10,199,291.03 0.00 0.00 X-1 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 A-R 100.00 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 B-2 8,968,000.00 8,968,000.00 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 B-4 2,802,000.00 2,802,000.00 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 B-6 4,486,095.46 4,486,095.46 0.00 0.00 0.00 0.00 - ---------- ---------------- ---------------- ------------ -------------- ---------- ---------- Totals 1,120,993,195.46 694.88 10,199,291.03 0.00 0.00 - ---------- ---------------- ---------------- ------------ -------------- ---------- ----------
Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ---------- ------------- ---------------- --------------- ---------------- A 10,199,985.91 1,054,245,333.95 0.97608440 10,199,985.91 X-1 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 B-1 0.00 16,815,000.00 1.00000000 0.00 B-2 0.00 8,968,000.00 1.00000000 0.00 B-3 0.00 6,165,000.00 1.00000000 0.00 B-4 0.00 2,802,000.00 1.00000000 0.00 B-5 0.00 1,681,000.00 1.00000000 0.00 B-6 0.00 4,486,095.46 1.00000000 0.00 - ---------- ------------- ---------------- --------------- ---------------- Totals 10,199,985.91 1,095,162,429.41 0.97695725 10,199,985.91 - ---------- ------------- ---------------- --------------- ----------------
(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 Class Amount Balance Distribution Distribution Accretion Loss (3) - ---------- ---------------- ---------------- ------------ -------------- ----------- ---------- A 1,080,076,000.00 985.52816641 0.00064336 9.44312347 0.00000000 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 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 B-2 8,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Ending Ending Total Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ---------- ---------------- ------------- --------------- ---------------- A 9.44376684 976.08439957 0.97608440 9.44376684 X-1 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 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 Current Beginning Current Unpaid Current Original Face Certificate Certificate/ Accrued Interest Interest Class Amount Rate Notional Balance Interest Shortfall Shortfall - --------- ---------------- ------------ ----------------- ------------ ----------- ----------- A 1,080,076,000.00 1.73375% 1,064,445,319.86 1,537,901.73 0.00 0.00 X-1 0.00 0.88498% 246,506,384.56 181,793.95 0.00 0.00 X-2 0.00 1.39251% 834,753,935.31 968,667.49 0.00 0.00 A-R 100.00 3.42154% 0.00 0.00 0.00 0.00 B-1 16,815,000.00 2.13375% 16,815,000.00 29,899.17 0.00 0.00 B-2 8,968,000.00 3.01677% 8,968,000.00 22,545.34 0.00 0.00 B-3 6,165,000.00 3.01677% 6,165,000.00 15,498.66 0.00 0.00 B-4 2,802,000.00 3.01677% 2,802,000.00 7,044.16 0.00 0.00 B-5 1,681,000.00 3.01677% 1,681,000.00 4,225.99 0.00 0.00 B-6 4,486,095.46 3.01677% 4,486,095.46 11,277.94 0.00 0.00 - --------- ---------------- ------------ ----------------- ------------ ----------- ----------- Totals 1,120,993,195.46 2,778,854.43 0.00 0.00 - --------- ---------------- ------------ ----------------- ------------ ----------- -----------
Non-Supported Remaining Ending Interest Unpaid Certificate/ Shortfall Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - --------- ------------- --------- --------------- ----------- ---------------- A 0.00 0.00 1,537,901.73 0.00 1,054,245,333.95 X-1 0.00 0.00 181,793.95 0.00 246,064,901.67 X-2 0.00 0.00 968,667.49 0.00 824,995,432.28 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 29,899.17 0.00 16,815,000.00 B-2 0.00 0.00 22,545.34 0.00 8,968,000.00 B-3 0.00 0.00 15,498.66 0.00 6,165,000.00 B-4 0.00 0.00 7,044.16 0.00 2,802,000.00 B-5 0.00 0.00 4,225.99 0.00 1,681,000.00 B-6 0.00 0.00 11,277.94 0.00 4,486,095.46 - --------- ------------- --------- --------------- ----------- ---------------- Totals 0.00 0.00 2,778,854.43 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 Current Beginning Current Unpaid Current Original Face Certificate Certificate Accrued Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall - --------- ---------------- ----------- ---------------- ------------ ------------ ---------- A 1,080,076,000.00 1.73375% 985.52816641 1.42388288 0.00000000 0.00000000 X-1 0.00 0.88498% 987.15350327 0.72800765 0.00000000 0.00000000 X-2 0.00 1.39251% 985.33632325 1.14340672 0.00000000 0.00000000 A-R 100.00 3.42154% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 2.13375% 1000.00000000 1.77812489 0.00000000 0.00000000 B-2 8,968,000.00 3.01677% 1000.00000000 2.51397636 0.00000000 0.00000000 B-3 6,165,000.00 3.01677% 1000.00000000 2.51397567 0.00000000 0.00000000 B-4 2,802,000.00 3.01677% 1000.00000000 2.51397573 0.00000000 0.00000000 B-5 1,681,000.00 3.01677% 1000.00000000 2.51397383 0.00000000 0.00000000 B-6 4,486,095.46 3.01677% 1000.00000000 2.51397682 0.00000000 0.00000000
Remaining Non-Supported Unpaid Interest Realized Total Interest Interest Ending Certificate/ Class (5) Shortfall Loss (6) Distribution Shortfall Notational Balance - --------- ------------- ----------- --------------- ---------- ------------------- A 0.00000000 0.00000000 1.42388288 0.00000000 976.08439957 X-1 0.00000000 0.00000000 0.72800765 0.00000000 985.38555157 X-2 0.00000000 0.00000000 1.14340672 0.00000000 973.81747070 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.77812489 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.51397636 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.51397567 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.51397573 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.51397383 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.51397682 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 13,326,254.98 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 340.85 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 13,326,595.83 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 347,755.50 Payment of Interest and Principal 12,978,840.33 ------------- Total Withdrawals (Pool Distribution Amount) 13,326,595.83 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 347,755.50 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------- Net Servicing Fee 347,755.50 =============
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 1 116,869.21 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 ----------------------- --------------------- --------------------- 1 116,869.21 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 0.031949% 0.010671% 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% ----------------------- ---------------------- ---------------------- 0.031949% 0.010671% 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 1 116,869.21 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 1 116,869.21
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 0.031949% 0.010671% 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% 0.031949% 0.010671%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 340.85
Original $ Original % Current $ Current % Bankruptcy 218,860.00 0.01952376% 218,860.00 0.01998425% Fraud 33,629,796.00 3.00000001% 33,629,796.00 3.07075874% Special Hazard 11,209,932.00 1.00000000% 10,951,624.29 1.00000000%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.394300% Weighted Average Net Coupon 3.016771% Weighted Average Pass-Through Rate 3.016771% Weighted Average Maturity (Stepdown Calculation) 322 Beginning Scheduled Collateral Loan Count 3,152 Number of Loans Paid in Full 22 Ending Scheduled Collateral Loan Count 3,130 Beginning Scheduled Collateral Balance 1,105,362,415.32 Ending Scheduled Collateral Balance 1,095,162,429.41 Ending Actual Collateral Balance at 31-Mar-2003 1,095,164,093.71 Monthly P&I Constant 3,127,304.79 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 1,095,162,429.41 Scheduled Principal 694.88 Unscheduled Principal 10,199,291.03
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 251,602,105.84 Principal Balance of 6-Month Libor Loans 843,560,323.57 Pro Rata Senior Percentage 96.298310% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%