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EX-10.1 3 f89238exv10w1.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: FEBRUARY 28, 2003 DISTRIBUTION DATE: MARCH 20, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution ----- ----- ----------- ---- ------- ------------ A 81744BAA4 SEN 1.79000% 1,071,195,813.83 1,597,867.08 X-1 81744BAB2 IO 0.82831% 0.00 171,112.64 X-2 81744BAC0 IO 1.36870% 0.00 958,218.08 A-R 81744BAD8 SEN 3.42294% 0.00 0.00 B-1 81744BAE6 SUB 2.19000% 16,815,000.00 30,687.37 B-2 81744BAF3 SUB 3.04176% 8,968,000.00 22,732.05 B-3 81744BAG1 SUB 3.04176% 6,165,000.00 15,627.02 B-4 SMT0212B4 SUB 3.04176% 2,802,000.00 7,102.50 B-5 SMT0212B5 SUB 3.04176% 1,681,000.00 4,260.99 B-6 SMT0212B6 SUB 3.04176% 4,486,095.46 11,371.34 ---------------- ------------ Totals 1,112,112,909.29 2,818,979.07 ---------------- ------------
Ending Principal Current Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss ----- ------------ ------- ----------- ------------ ------------- A 6,750,493.97 0.00 1,064,445,319.86 8,348,361.05 0.00 X-1 0.00 0.00 0.00 171,112.64 0.00 X-2 0.00 0.00 0.00 958,218.08 0.00 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 16,815,000.00 30,687.37 0.00 B-2 0.00 0.00 8,968,000.00 22,732.05 0.00 B-3 0.00 0.00 6,165,000.00 15,627.02 0.00 B-4 0.00 0.00 2,802,000.00 7,102.50 0.00 B-5 0.00 0.00 1,681,000.00 4,260.99 0.00 B-6 0.00 0.00 4,486,095.46 11,371.34 0.00 ------------ ---- ---------------- ------------ ---- Totals 6,750,493.97 0.00 1,105,362,415.32 9,569,473.04 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 Class Amount Balance Distribution Distribution Accretion ----- ------ ------- ------------ ------------ --------- A 1,080,076,000.00 1,071,195,813.83 503.36 6,749,990.61 0.00 X-1 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 B-1 16,815,000.00 16,815,000.00 0.00 0.00 0.00 B-2 8,968,000.00 8,968,000.00 0.00 0.00 0.00 B-3 6,165,000.00 6,165,000.00 0.00 0.00 0.00 B-4 2,802,000.00 2,802,000.00 0.00 0.00 0.00 B-5 1,681,000.00 1,681,000.00 0.00 0.00 0.00 B-6 4,486,095.46 4,486,095.46 0.00 0.00 0.00 ---------------- ---------------- ------ ------------ ---- Totals 1,120,993,195.46 1,112,112,909.29 503.36 6,749,990.61 0.00 ---------------- ---------------- ------ ------------ ----
Total Ending Ending Realized Principal Certificate Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution ----- -------- --------- ------- ---------- ------------ A 0.00 6,750,493.97 1,064,445,319.86 0.98552817 6,750,493.97 X-1 0.00 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 16,815,000.00 1.00000000 0.00 B-2 0.00 0.00 8,968,000.00 1.00000000 0.00 B-3 0.00 0.00 6,165,000.00 1.00000000 0.00 B-4 0.00 0.00 2,802,000.00 1.00000000 0.00 B-5 0.00 0.00 1,681,000.00 1.00000000 0.00 B-6 0.00 0.00 4,486,095.46 1.00000000 0.00 ---- ------------ ---------------- ---------- ------------ Totals 0.00 6,750,493.97 1,105,362,415.32 0.98605631 6,750,493.97 ---- ------------ ---------------- ---------- ------------
(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 Class Amount Balance Distribution Distribution Accretion ----- ------ ------- ------------ ------------ --------- A 1,080,076,000.00 991.77818397 0.00046604 6.24955152 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 1000.00000000 0.00000000 0.00000000 0.00000000
Ending Ending Realized Total Principal Certificate Certificate Total Principal Class Loss (3) Reduction Balance Percentage Distribution ----- -------- --------- ------- ---------- ------------ A 0.00000000 6.25001756 985.52816641 0.98552817 6.25001756 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 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 1.79000% 1,071,195,813.83 1,597,867.09 0.00 0.00 X-1 0.00 0.82831% 247,895,225.91 171,112.64 0.00 0.00 X-2 0.00 1.36870% 840,115,587.92 958,218.08 0.00 0.00 A-R 100.00 3.42294% 0.00 0.00 0.00 0.00 B-1 16,815,000.00 2.19000% 16,815,000.00 30,687.38 0.00 0.00 B-2 8,968,000.00 3.04176% 8,968,000.00 22,732.05 0.00 0.00 B-3 6,165,000.00 3.04176% 6,165,000.00 15,627.02 0.00 0.00 B-4 2,802,000.00 3.04176% 2,802,000.00 7,102.50 0.00 0.00 B-5 1,681,000.00 3.04176% 1,681,000.00 4,260.99 0.00 0.00 B-6 4,486,095.46 3.04176% 4,486,095.46 11,371.34 0.00 0.00 ---------------- ------------ ---- ---- Totals 1,120,993,195.46 2,818,979.09 0.00 0.00 ---------------- ------------ ---- ----
Remaining Ending Non-Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance ----- --------- -------- ------------ --------- ------- A 0.00 0.00 1,597,867.08 0.00 1,064,445,319.86 X-1 0.00 0.00 171,112.64 0.00 246,506,384.56 X-2 0.00 0.00 958,218.08 0.00 834,753,935.30 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 30,687.37 0.00 16,815,000.00 B-2 0.00 0.00 22,732.05 0.00 8,968,000.00 B-3 0.00 0.00 15,627.02 0.00 6,165,000.00 B-4 0.00 0.00 7,102.50 0.00 2,802,000.00 B-5 0.00 0.00 4,260.99 0.00 1,681,000.00 B-6 0.00 0.00 11,371.34 0.00 4,486,095.46 ---- ---- ------------ ---- Totals 0.00 0.00 2,818,979.07 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 Class Original Face Certificate Certificate Accrued Interest Interest (5) Amount Rate Notional Balance Interest Shortfall Shortfall --- ------ ---- ---------------- -------- --------- --------- A 1,080,076,000.00 1.79000% 991.77818397 1.47940246 0.00000000 0.00000000 X-1 0.00 0.82831% 992.71522373 0.68523354 0.00000000 0.00000000 X-2 0.00 1.36870% 991.66517161 1.13107233 0.00000000 0.00000000 A-R 100.00 3.42294% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 2.19000% 1000.00000000 1.82500030 0.00000000 0.00000000 B-2 8,968,000.00 3.04176% 1000.00000000 2.53479594 0.00000000 0.00000000 B-3 6,165,000.00 3.04176% 1000.00000000 2.53479643 0.00000000 0.00000000 B-4 2,802,000.00 3.04176% 1000.00000000 2.53479657 0.00000000 0.00000000 B-5 1,681,000.00 3.04176% 1000.00000000 2.53479477 0.00000000 0.00000000 B-6 4,486,095.46 3.04176% 1000.00000000 2.53479671 0.00000000 0.00000000
Remaining Non-Supported Unpaid Class Interest Realized Total Interest Interest Ending Certificate/ (5) Shortfall Loss (6) Distribution Shortfall Notational Balance --- --------- -------- ------------ --------- ------------------ A 0.00000000 0.00000000 1.47940245 0.00000000 985.52816641 X-1 0.00000000 0.00000000 0.68523354 0.00000000 987.15350327 X-2 0.00000000 0.00000000 1.13107233 0.00000000 985.33632324 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.82499970 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.53479594 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.53479643 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.53479657 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.53479477 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.53479671 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 9,895,351.97 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 23,986.10 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 9,919,338.07 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 349,865.04 Payment of Interest and Principal 9,569,473.03 ------------ Total Withdrawals (Pool Distribution Amount) 9,919,338.07 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 349,865.04 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------ Net Servicing Fee 349,865.04 ============
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 23 8,873,176.57 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 ----------------------- --------------------- --------------------- 23 8,873,176.57 0 0.00 0 0.00
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 23 8,873,176.57 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 23 8,873,176.57
DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------------- ---------------------------------- ---------------------------------- 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 0.729695% 0.802740% 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% ----------------------- --------------------- --------------------- 0.729695% 0.802740% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL - ---------------------------------- ------------------------------------ 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 0.729695% 0.802740% 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% 0.729695% 0.802740%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 23,986.10
Original $ Original % Current $ Current % Bankruptcy 218,860.00 0.01952376% 218,860.00 0.01979984% Fraud 33,629,796.00 3.00000001% 33,629,796.00 3.04242261% Special Hazard 11,209,932.00 1.00000000% 11,053,624.15 1.00000000%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.419269% Weighted Average Net Coupon 3.041755% Weighted Average Pass-Through Rate 3.041755% Weighted Average Maturity (Stepdown Calculation) 323 Beginning Scheduled Collateral Loan Count 3,167 Number of Loans Paid in Full 15 Ending Scheduled Collateral Loan Count 3,152 Beginning Scheduled Collateral Balance 1,112,112,909.29 Ending Scheduled Collateral Balance 1,105,362,415.32 Ending Actual Collateral Balance at 28-Feb-2003 1,105,361,700.42 Monthly P&I Constant 3,169,347.45 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 1,105,362,415.32 Scheduled Principal 503.36 Unscheduled Principal 6,749,990.61
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 252,001,194.92 Principal Balance of 6-Month Libor Loans 853,361,220.40 Pro Rata Senior Percentage 96.320779% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%