Sequoia Residential Funding, Inc. has previously registered the offer and sale of Mortgage Pass-Through Certificates issued by Sequoia Mortgage Trust 11 (the Certificates)

Contract Categories: Real Estate - Mortgage Agreements
EX-10.1 3 f88321exv10w1.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 2002-11 RECORD DATE: JANUARY 31, 2003 DISTRIBUTION DATE: FEBRUARY 20, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Class Certificate Class CUSIP Description Pass-Through Rate ----- ----- ----------- ----------------- A 81744AAA6 SEN 1.81125% X-1A 81744AAC2 IO 0.95850% X-1B 81744AAD0 IO 1.51836% X-B 81744AAE8 IO 0.84313% A-R 81744AAF5 SEN 3.30089% B-1 81744AAB4 SUB 2.33125% B-2 81744AAG3 SUB 3.17438% B-3 81744AAH1 SUB 3.17438% B-4 SMT0211B4 SUB 3.17438% B-5 SMT0211B5 SUB 3.17438% B-6 SMT0211B6 SUB 3.17438%
Current Ending Cumulative Beginning Certificate Interest Principal Realized Ceritifcate Total Realized Class Balance Distribution Distribution Loss Balance Distribution Loss ----- ------- ------------ ------------ ---- ------- ------------ ---- A 685,980,549.47 1,035,401.89 4,533,881.08 0.00 681,446,668.39 5,569,282.97 0.00 X-1A 0.00 151,918.31 0.00 0.00 0.00 151,918.31 0.00 X-1B 0.00 627,317.84 0.00 0.00 0.00 627,317.84 0.00 X-B 0.00 6,833.60 0.00 0.00 0.00 6,833.60 0.00 A-R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,726,000.00 18,894.78 0.00 0.00 9,726,000.00 18,894.78 0.00 B-2 5,764,000.00 15,247.62 0.00 0.00 5,764,000.00 15,247.62 0.00 B-3 3,962,000.00 10,480.76 0.00 0.00 3,962,000.00 10,480.76 0.00 B-4 1,801,000.00 4,764.22 0.00 0.00 1,801,000.00 4,764.22 0.00 B-5 1,080,000.00 2,856.95 0.00 0.00 1,080,000.00 2,85695 0.00 B-6 2,882,787.00 7,625.89 0.00 0.00 2,882,787.00 7,625.89 0.00 --- ------------ -------- ---- ---- ------------ -------- ---- Totals 711,196,336.47 1,881,341.86 4,533,881.08 0.00 706,662,455.39 6,415,222.94 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 ----- ------ ------- ------------ ------------ A 695,210,000.00 685,980,549.47 2.93 4,533,878.15 X-1A 0.00 0.00 0.00 0.00 X-1B 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 B-1 9,726,000.00 9,726,000.00 0.00 0.00 B-2 5,726,000.00 5,764,000.00 0.00 0.00 B-3 3,962,000.00 3,962,000.00 0.00 0.00 B-4 1,801,000.00 1,801,000.00 0.00 0.00 B-5 1,080,000.00 1,080,000.00 0.00 0.00 B-6 2,882,787.00 2,882,787.00 0.00 0.00 --- ------------ ------------ ---- ---- Totals 720,425,887.00 711,196,336.47 2.93 4,533,878.15 ============== ============== ==== ============
Ending Realized Total Principal Ending Certificate Certificate Total Principal Class Accretion Loss (1) Reduction Balance Percentage Distribution ----- --------- -------- --------- ------- ---------- ------------ A 0.00 0.00 4,533,881.08 681,446,668.39 0.98020263 4,533,881.08 X-1A 0.00 0.00 0.00 0.00 0.00000000 0.00 X-1B 0.00 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 0.00 9,726,000.00 1.00000000 0.00 B-2 0.00 0.00 0.00 5,764,000.00 1.00000000 0.00 B-3 0.00 0.00 0.00 3,962,000.00 1.00000000 0.00 B-4 0.00 0.00 0.00 1,801,000.00 1.00000000 0.00 B-5 0.00 0.00 0.00 1,080,000.00 1.00000000 0.00 B-6 0.00 0.00 0.00 2,882,787.00 1.00000000 0.00 --- ---- ---- ---- ------------ ---------- ---- Totals 0.00 0.00 4,533,881.08 706,662,455.39 0.98089542 4,533,881.08 ==== ==== ============ ============== ========== ============
(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
Scheduled Unscheduled Original Face Beginning Certificate Principal Principal Class Amount Balance Distribution Distribution - ----- ------ ------- ------------ ------------ A 695,210,000.00 986.72422645 0.00000421 6.52159513 X-1A 0.00 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 A-R 100.00 1000.00000000 0.00000000 0.00000000 B-1 9,726,000.00 1000.00000000 0.00000000 0.00000000 B-2 5,764,000.00 1000.00000000 0.00000000 0.00000000 B-3 3,962,000.00 1000.00000000 0.00000000 0.00000000 B-4 1,801,000.00 1000.00000000 0.00000000 0.00000000 B-5 1,080,000.00 1000.00000000 0.00000000 0.00000000 B-6 2,882,787.00 1000.00000000 0.00000000 0.00000000
Ending Ending Total Realized Total Principal Certificate Certificate Principal Class Accretion Loss (3) Reduction Balance Percentage Distribution - ----- --------- -------- --------- ------- ---------- ------------ A 0.00000000 0.00000000 6.52159934 980.20262711 0.98020263 6.52159934 X-1A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 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 Original Face Certificate Certificate/ Accrued Interest Class Amount Rate Notional Balance Interest Shortfall - ----- ------ ---- ---------------- -------- --------- A 695,210,000.00 1.81125% 685,980,549.47 1,035,401.89 0.00 X-1A 0.00 0.95850% 190,196,078.85 151,918.31 0.00 X-1B 0.00 1.51836% 495,784,470.62 627,317.84 0.00 X-B 0.00 0.84313% 9,726,000.00 6,833.60 0.00 A-R 100.00 3.30089% 0.00 0.00 0.00 B-1 9,726,000.00 2.33125% 9,726,000.00 18,894.78 0.00 B-2 5,764,000.00 3.17438% 5,764,000.00 15,247.62 0.00 B-3 3,962,000.00 3.17438% 3,962,000.00 10,480.76 0.00 B-4 1,801,000.00 3.17438% 1,801,000.00 4,764.22 0.00 B-5 1,080,000.00 3.17438% 1,080,000.00 2,856.95 0.00 B-6 2,882,787.00 3.17438% 2,882,787.00 7,625.89 0.00 --- ------------ -------- ------------ -------- ---- Totals 720,425,887.00 1,881,341.86 0.00 ============== ============ ====
Current Non-Supported Remaining Interest Interest Realized Total Interest Unpaid Interest Ending Certificate/ Class Shortfall Shortfall Loss (4) Distribution Shortfall Notational Balance - ----- --------- --------- -------- ------------ --------- ------------------ A 0.00 0.00 0.00 1,035,401.89 0.00 681,446,668.39 X-1A 0.00 0.00 0.00 151,918.31 0.00 189,577,188.85 X-1B 0.00 0.00 0.00 627,317.84 0.00 491,869,479.54 X-B 0.00 0.00 0.00 6,833.60 0.00 9,726,000.00 A-R 0.00 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 0.00 18,894.78 0.00 9,726,000.00 B-2 0.00 0.00 0.00 15,247.62 0.00 5,764,000.00 B-3 0.00 0.00 0.00 10,480.76 0.00 3,962,000.00 B-4 0.00 0.00 0.00 4,764.22 0.00 1,801,000.00 B-5 0.00 0.00 0.00 2,856.95 0.00 1,080,000.00 B-6 0.00 0.00 0.00 7,625.89 0.00 2,882,787.00 --- ---- ---- ---- -------- ---- ------------ Totals 0.00 0.00 0.00 1,881,341.86 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
Current Beginning Class Original Face Certificate Certificate/ Current Accrued Payment of Unpaid (5) Amount Rate Notional Balance Interest Interest Shortfall --- ------ ---- ---------------- -------- ------------------ A 695,210,000.00 1.81125% 986.72422645 1.48933688 0.00000000 X-1A 0.00 0.95850% 991.83720100 0.79222575 0.00000000 X-1B 0.00 1.51836% 984.77691227 1.24604170 0.00000000 X-B 0.00 0.84313% 1000.00000000 0.70261156 0.00000000 A-R 100.00 3.30089% 0.00000000 0.00000000 0.00000000 B-1 9,726,000.00 2.33125% 1000.00000000 1.94270820 0.00000000 B-2 5,726,000.00 3.17438% 1000.00000000 2.64531922 0.00000000 B-3 3,962,000.00 3.17438% 1000.00000000 2.64532055 0.00000000 B-4 1,801,000.00 3.17438% 1000.00000000 2.64531927 0.00000000 B-5 1,080,000.00 3.17438% 1000.00000000 2.64532407 0.00000000 B-6 2,882,787.00 3.17438% 1000.00000000 2.64531858 0.00000000
Non-Supported Total Class Current Interest Interest Realized Interest Remaining Unpaid Ending Certificate/ (5) Shortfall Shortfall Loss (6) Distribution Interest Shortfall Notational Balance --- --------- --------- -------- ------------ ------------------ ------------------ A 0.00000000 0.00000000 0.00000000 1.48933688 0.00000000 980.20262711 X-1A 0.00000000 0.00000000 0.00000000 0.79222575 0.00000000 988.60980468 X-1B 0.00000000 0.00000000 0.00000000 1.24604170 0.00000000 977.00056376 X-B 0.00000000 0.00000000 0.00000000 0.70261156 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 0.00000000 1.94270820 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 0.00000000 2.64531922 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 0.00000000 2.64532055 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 0.00000000 2.64531927 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 0.00000000 2.64532407 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 0.00000000 2.64531858 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 0.00 Deposits Payments of Interest and Principal 6,604,452.98 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 29,667.36 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 6,634,120.34 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 218,897.39 Payment of Interest and Principal 6,415,222.95 ------------ Total Withdrawals (Pool Distribution Amount) 6,634,120.34 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 214,748.74 Master Servicing Fee 4,148.65 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 218,897.39 ==========
Account Type Beginning Balance Current Withdrawals Current Deposits Ending Balance Class X-1 Basis Risk Reserve Fund 5,000.00 0.00 0.00 5,000.00 Class X-B Basis Risk Reserve Fund 5,000.00 0.00 0.00 5,000.00
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 19 9,389,336.74 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 677,234.86 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 - --------- -- ------------- --------- - ---- --------- - ---- 21 10,066,571.60 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 19 9,389,336.74 60 Days 0 0.00 60 Days 2 677,234.86 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 21 10,066,571.60
DELINQUENT BANKRUPTCY ---------- ---------- No. of Principal Balance No. of Principal Balance Loans Loans 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.948104% 1.328705% 30 Days 0.000000% 0.000000% 60 Days 0.099800% 0.095837% 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% 1.047904% 1.424542% 0.000000% 0.000000%
FORECLOSURE REO ----------- --- No. of Principal Balance No. of Principal Balance Loans Loans 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%
TOTAL ----- No. of Principal Balance Loans 0-29 Days 0.000000% 0.000000% 30 Days 0.948104% 1.328705% 60 Days 0.099800% 0.095837% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 1.047904% 1.424542%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 29,667.36
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original % Current $ ---------- ---------- --------- Class A 25,215,787.00 3.50012% 25,215,787.00 Class B-1 15,489,787.00 2.15008% 15,489,787.00 Class B-2 9,725,787.00 1.35000% 9,725,787.00 Class B-3 5,763,787.00 0.80005% 5,763,787.00 Class B-4 3,962,787.00 0.55006% 3,962,787.00 Class B-5 2,882,787.00 0.40015% 2,882,787.00 Class B-6 0.00 0.00000% 0.00
Current % Current Class % Prepayment % -------- --------------- ------------ Class A 3.56829% 96.43170% 0.000000% Class B-1 2.19196% 1.37632% 38.571075% Class B-2 1.37629% 0.81566% 22.858696% Class B-3 0.81563% 0.56066% 15.712379% Class B-4 0.56077% 0.25486% 7.142351% Class B-5 0.40794% 0.15283% 4.283031% Class B-6 0.00000% 0.40794% 11.432469%
Please refer to the prospectus supplement for a full description of loss exposure
Original $ Original % Current $ Current % ---------- ---------- --------- --------- Bankruptcy 119,754.00 0.01662 119,754.00 0.01694642% Fraud 21,612,777.00 3.00000 21,612,777.00 3.05843007% Special Hazard 11,600,00.00 1.61015 11,600,000.00 1.64151922%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.543729% Weighted Average Net Coupon 3.181384% Weighted Average Pass-Through Rate 3.174384% Weighted Average Maturity (Stepdown Calculation) 323 Beginning Scheduled Collateral Loan Count 2,013 Number of Loans Paid in Full 9 Ending Scheduled Collateral Loan Count 2,004 Beginning Scheduled Collateral Balance 711,196,336.47 Ending Scheduled Collateral Balance 706,662,455.39 Ending Actual Collateral Balance at 31-Jan-2003 706,653,240.41 Monthly P&I Constant 2,100,242.18 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 5,569,282.97 Ending Scheduled Balance for Premium Loans 706,662,455.39 Scheduled Principal 2.93 Unscheduled Principal 4,533,878.15
MISCELLANEOUS REPORTING One Month LIBOR Loans 196,592,173.64 Six Month LIBOR Loans 510,070,281.75 Pro Rata Senior Percentage 96.454455% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%