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EX-10.1 3 f88320exv10w1.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: JANUARY 31, 2003 DISTRIBUTION DATE: FEBRUARY 20, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Ending Class Pass-Through Certificate Interest Principal Current Certificate Class CUSIP Description Rate Balance Distribution Distribution Realized Loss Balance ----- ----- ----------- ---- ------- ------------ ------------ ------------- ----------- A 81744BAA4 SEN 1.81125% 1,077,424,690.27 1,626,237.89 6,228,876.44 0.00 1,071,195,813.83 X-1 81744BAB2 IO 0.83838% 0.00 173,695.30 0.00 0.00 0.00 X-2 81744BAC0 IO 1.35146% 0.00 952,358.41 0.00 0.00 0.00 A-R 81744BAD8 SEN 3.42316% 0.00 0.00 0.00 0.00 0.00 B-1 81744BAE6 SUB 2.21125% 16,815,000.00 30,985.14 0.00 0.00 16,815,000.00 B-2 81744BAF3 SUB 3.05229% 8,968,000.00 22,810.75 0.00 0.00 8,968,000.00 B-3 81744BAG1 SUB 3.05229% 6,165,000.00 15,681.12 0.00 0.00 6,165,000.00 B-4 SMT0212B4 SUB 3.05229% 2,802,000.00 7,127.09 0.00 0.00 2,802,000.00 B-5 SMT0212B5 SUB 3.05229% 1,681,000.00 4,275.74 0.00 0.00 1,681,000.00 B-6 SMT0212B6 SUB 3.05229% 4,486,095.46 11,410.70 0.00 0.00 4,486,095.46 --- --------- --- -------- ---------------- ------------ ------------ ---- ---------------- Totals 1,118,341,785.73 2,844,582.14 6,228,876.44 0.00 1,112,112,909.29 --- --------- --- -------- ---------------- ------------ ------------ ---- ----------------
Total Cumulative Class CUSIP Distribution Realized Loss ----- ----- ------------ ------------- A 81744BAA4 7,855,114.33 0.00 X-1 81744BAB2 173,695.30 0.00 X-2 81744BAC0 952,358.41 0.00 A-R 81744BAD8 0.00 0.00 B-1 81744BAE6 30,985.14 0.00 B-2 81744BAF3 22,810.75 0.00 B-3 81744BAG1 15,681.12 0.00 B-4 SMT0212B4 7,127.09 0.00 B-5 SMT0212B5 4,275.74 0.00 B-6 SMT0212B6 11,410.70 0.00 --- --------- ------------ ---- Totals 9,073,458.58 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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction ----- ------ ------- ------------ ------------ --------- -------- --------- A 1,080,076,000.00 1,077,424,690.27 0.00 6,228,876.44 0.00 0.00 6,228,876.44 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 1,118,341,785.73 0.00 6,228,876.44 0.00 0.00 6,228,876.44 - ------ ---------------- ---------------- ---- ------------ ---- ---- ------------
Ending Ending Total Certificate Certificate Principal Class Balance Percentage Distribution ----- ------- ---------- ------------ A 1,071,195,813.83 0.99177818 6,228,876.44 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 1,112,112,909.29 0.99207820 6,228,876.44 - ------ ---------------- ---------- ------------
(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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction ----- ------ ------- ------------ ------------ --------- -------- --------- A 1,080,076,000.00 997.54525632 0.00000000 5.76707235 0.00000000 0.00000000 5.76707235 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 Total Certificate Certificate Principal Class Balance Percentage Distribution ----- ------- ---------- ------------ A 991.77818397 0.99177818 5.76707235 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 Current Beginning Current Unpaid Current Non-Supported Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized Class Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (4) ----- ------ ---- ---------------- -------- --------- --------- --------- -------- A 1,080,076,000.00 1.81125% 1,077,424,690.27 1,626,237.89 0.00 0.00 0.00 0.00 X-1 0.00 0.83838% 248,615,997.41 173,695.30 0.00 0.00 0.00 0.00 X-2 0.00 1.35146% 845,623,692.86 952,358.41 0.00 0.00 0.00 0.00 A-R 100.00 3.42316% 0.00 0.00 0.00 0.00 0.00 0.00 B-1 16,815,000.00 2.21125% 16,815,000.00 30,985.14 0.00 0.00 0.00 0.00 B-2 8,968,000.00 3.05229% 8,968,000.00 22,810.75 0.00 0.00 0.00 0.00 B-3 6,165,000.00 3.05229% 6,165,000.00 15,681.12 0.00 0.00 0.00 0.00 B-4 2,802,000.00 3.05229% 2,802,000.00 7,127.09 0.00 0.00 0.00 0.00 B-5 1,681,000.00 3.05229% 1,681,000.00 4,275.74 0.00 0.00 0.00 0.00 B-6 4,486,095.46 3.05229% 4,486,095.46 11,410.70 0.00 0.00 0.00 0.00 ------ ---------------- ----------- ---------------- ------------ ---- ---- ---- ---- Totals 1,120,993,195.46 2,844,582.14 0.00 0.00 0.00 0.00 ------ ---------------- ----------- ---------------- ------------ ---- ---- ---- ----
Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance ----- ------------ --------- ------- A 1,626,237.89 0.00 1,071,195,813.83 X-1 173,695.30 0.00 247,895,225.91 X-2 952,358.41 0.00 840,115,587.92 A-R 0.00 0.00 0.00 B-1 30,985.14 0.00 16,815,000.00 B-2 22,810.75 0.00 8,968,000.00 B-3 15,681.12 0.00 6,165,000.00 B-4 7,127.09 0.00 2,802,000.00 B-5 4,275.74 0.00 1,681,000.00 B-6 11,410.70 0.00 4,486,095.46 ------ ------------ ---- ---------------- Totals 2,844,582.14 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 Non-Supported Class Original Face Certificate Certificate Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --- ------ ---- ---------------- -------- --------- --------- --------- -------- A 1,080,076,000.00 1.81125% 997.54525632 1.50566987 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.83838% 995.60160784 0.69557600 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 1.35146% 998.16689102 1.12415563 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.42316% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 2.21125% 1000.00000000 1.84270830 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 3.05229% 1000.00000000 2.54357159 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 3.05229% 1000.00000000 2.54357178 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 3.05229% 1000.00000000 2.54357245 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 3.05229% 1000.00000000 2.54356930 0.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 3.05229% 1000.00000000 2.54357048 0.00000000 0.00000000 0.00000000 0.00000000
Remaining Ending Unpaid Certificate/ Class Total Interest Interest Notational (5) Distribution Shortfall Balance --- ------------ --------- ------- A 1.50566987 0.00000000 991.77818397 X-1 0.69557600 0.00000000 992.71522373 X-2 1.12415563 0.00000000 991.66517161 A-R 0.00000000 0.00000000 0.00000000 B-1 1.84270830 0.00000000 1000.00000000 B-2 2.54357159 0.00000000 1000.00000000 B-3 2.54357178 0.00000000 1000.00000000 B-4 2.54357245 0.00000000 1000.00000000 B-5 2.54356930 0.00000000 1000.00000000 B-6 2.54357048 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 9,414,827.83 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 10,442.30 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 9,425,270.13 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 351,811.55 Payment of Interest and Principal 9,073,458.58 ------------ Total Withdrawals (Pool Distribution Amount) 9,425,270.13 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 351,811.55 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------ Net Servicing Fee 351,811.55 ============
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 9 3,488,320.98 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 400,000.00 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 ------------------------- --------------------- ----------------- 11 3,888,320.98 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 0.284181% 0.313666% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.063151% 0.035968% 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% ------------------------- --------------------- ----------------- 0.347332% 0.349633% 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 9 3,488,320.98 60 Days 0 0.00 60 Days 2 400,000.00 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 11 3,888,320.98 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 0.284181% 0.313666% 60 Days 0.000000% 0.000000% 60 Days 0.063151% 0.035968% 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% 0.347332% 0.349633%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 10,442.30
Original $ Original % Current $ Current % Bankruptcy 218,860.00 0.01952376% 218,860.00 0.01967966% Fraud 33,629,796.00 3.00000001% 33,629,796.00 3.02395519% Special Hazard 11,209,932.00 1.00000000% 11,121,129.09 1.00000000%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.429785% Weighted Average Net Coupon 3.052286% Weighted Average Pass-Through Rate 3.052286% Weighted Average Maturity (Stepdown Calculation) 324 Beginning Scheduled Collateral Loan Count 3,177 Number of Loans Paid in Full 10 Ending Scheduled Collateral Loan Count 3,167 Beginning Scheduled Collateral Balance 1,118,341,785.73 Ending Scheduled Collateral Balance 1,112,112,909.29 Ending Actual Collateral Balance at 31-Jan-2003 1,112,114,706.99 Monthly P&I Constant 3,196,393.68 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 1,112,112,909.29 Scheduled Principal 0.00 Unscheduled Principal 6,228,876.44
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 253,386,710.30 Principal Balance of 6-Month Libor Loans 858,726,198.99 Pro Rata Senior Percentage 96.341271% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%