Wells Fargo Bank Minnesota, N.A. SMT Series 2002-12 Certificateholder Distribution Statement (March 2004)

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2002-12 trust. It summarizes the interest and principal payments made to certificateholders as of the March 22, 2004 distribution date, based on the Pooling and Servicing Agreement. The statement details the amounts distributed to each class of certificates, the remaining balances, and confirms that all calculations were made in accordance with the governing agreement. No realized losses were reported for this period.

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EX-10.1 3 f97888eexv10w1.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 27, 2004 DISTRIBUTION DATE: MARCH 22, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Principal Current Class CUSIP Description Rate Certificate Balance Distribution Distribution Realized Loss - ----- ----- ----------- ---- ------------------- ------------ ------------ ------------- A 81744BAA4 SEN 1.54125% 928,925,338.18 1,193,088.49 8,425,245.29 0.00 X-1 81744BAB2 IO 0.82092% 0.00 154,600.27 0.00 0.00 X-2 81744BAC0 IO 1.05565% 0.00 633,169.36 0.00 0.00 A-R 81744BAD8 SEN 3.16280% 0.00 0.00 0.00 0.00 B-1 81744BAE6 SUB 1.94125% 16,815,000.00 27,201.77 0.00 0.00 B-2 81744BAF3 SUB 2.54792% 8,968,000.00 19,041.46 0.00 0.00 B-3 81744BAG1 SUB 2.54792% 6,165,000.00 13,089.95 0.00 0.00 B-4 SMT0212B4 SUB 2.54792% 2,802,000.00 5,949.40 0.00 0.00 B-5 SMT0212B5 SUB 2.54792% 1,681,000.00 3,569.21 0.00 0.00 B-6 SMT0212B6 SUB 2.54792% 4,486,095.46 9,525.18 0.00 0.00 --------- --- ------- -------------- ------------ ------------ ---- Totals 969,842,433.64 2,059,235.09 8,425,245.29 0.00 -------------- ------------ ------------ ---- Ending Certificate Total Cumulative Class CUSIP Balance Distribution Realized Loss - ----- ----- ------- ------------ ------------- A 81744BAA4 920,500,092.89 9,618,333.78 0.00 X-1 81744BAB2 0.00 154,600.27 0.00 X-2 81744BAC0 0.00 633,169.36 0.00 A-R 81744BAD8 0.00 0.00 0.00 B-1 81744BAE6 16,815,000.00 27,201.77 0.00 B-2 81744BAF3 8,968,000.00 19,041.46 0.00 B-3 81744BAG1 6,165,000.00 13,089.95 0.00 B-4 SMT0212B4 2,802,000.00 5,949.40 0.00 B-5 SMT0212B5 1,681,000.00 3,569.21 0.00 B-6 SMT0212B6 4,486,095.46 9,525.18 0.00 --------- -------------- ------------- ---- Totals 961,417,188.35 10,484,480.38 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 Total Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - ----- ------ ------- ------------ ------------ --------- -------- --------- A 1,080,076,000.00 928,925,338.18 0.00 8,425,245.29 0.00 0.00 8,425,245.29 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 1,120,993,195.46 969,842,433.64 0.00 8,425,245.29 0.00 0.00 8,425,245.29 ---------------- -------------- ---- ------------ ---- ---- ------------ Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ----- ------- ---------- ------------ A 920,500,092.89 0.85225493 8,425,245.29 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 961,417,188.35 0.85764766 8,425,245.29 -------------- ---------- ------------
(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 Total Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction - ----- ------ ------- ------------ ------------ --------- -------- --------- A 1,080,076,000.00 860.05553144 0.00000000 7.80060411 0.00000000 0.00000000 7.80060411 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 Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ----- ------- ---------- ------------ A 852.25492733 0.85225493 7.80060411 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 Non- Beginning Current Unpaid Current Supported Original Face Current Certificate/ Accrued Interest Interest Interest Realized Class Amount Certificate Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (4) - ----- ------ ---------------- ---------------- -------- --------- --------- --------- -------- A 1,080,076,000.00 1.54125% 928,925,338.18 1,193,088.48 0.00 0.00 (0.01) 0.00 X-1 0.00 0.82092% 225,991,122.33 154,600.26 0.00 0.00 0.00 0.00 X-2 0.00 1.05565% 719,749,215.85 633,169.36 0.00 0.00 0.00 0.00 A-R 100.00 3.16280% 0.00 0.00 0.00 0.00 0.00 0.00 B-1 16,815,000.00 1.94125% 16,815,000.00 27,201.77 0.00 0.00 0.00 0.00 B-2 8,968,000.00 2.54792% 8,968,000.00 19,041.46 0.00 0.00 0.00 0.00 B-3 6,165,000.00 2.54792% 6,165,000.00 13,089.95 0.00 0.00 0.00 0.00 B-4 2,802,000.00 2.54792% 2,802,000.00 5,949.40 0.00 0.00 0.00 0.00 B-5 1,681,000.00 2.54792% 1,681,000.00 3,569.21 0.00 0.00 0.00 0.00 B-6 4,486,095.46 2.54792% 4,486,095.46 9,525.18 0.00 0.00 0.00 0.00 ---------------- ------- -------------- ------------ ---- ---- ----- ---- Totals 1,120,993,195.46 2,059,235.07 0.00 0.00 (0.01) 0.00 ---------------- ------------ ---- ---- ----- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ----- ------------ --------- ------- A 1,193,088.49 0.00 920,500,092.89 X-1 154,600.27 0.00 224,345,509.30 X-2 633,169.36 0.00 712,969,583.59 A-R 0.00 0.00 0.00 B-1 27,201.77 0.00 16,815,000.00 B-2 19,041.46 0.00 8,968,000.00 B-3 13,089.95 0.00 6,165,000.00 B-4 5,949.40 0.00 2,802,000.00 B-5 3,569.21 0.00 1,681,000.00 B-6 9,525.18 0.00 4,486,095.46 ------------ ---- -------------- Totals 2,059,235.09 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 Non- Current Beginning Unpaid Current Supported Class Original Face Certificate Certificate Current Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --- ------ ---- ---------------- -------- --------- --------- --------- -------- A 1,080,076,000.00 1.54125% 860.05553144 1.10463382 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.82092% 904.99858052 0.61910846 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 1.05565% 849.58574738 0.74738763 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.16280% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1.94125% 1000.00000000 1.61770859 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 2.54792% 1000.00000000 2.12326717 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 2.54792% 1000.00000000 2.12326845 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 2.54792% 1000.00000000 2.12326909 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 2.54792% 1000.00000000 2.12326591 0.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 2.54792% 1000.00000000 2.12326735 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance --- ------------ --------- ------------------ A 1.10463383 0.00000000 852.25492733 X-1 0.61910850 0.00000000 898.40859839 X-2 0.74738763 0.00000000 841.58312812 A-R 0.00000000 0.00000000 0.00000000 B-1 1.61770859 0.00000000 1000.00000000 B-2 2.12326717 0.00000000 1000.00000000 B-3 2.12326845 0.00000000 1000.00000000 B-4 2.12326909 0.00000000 1000.00000000 B-5 2.12326591 0.00000000 1000.00000000 B-6 2.12326735 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 10,788,790.91 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 10,788,790.91 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 304,310.54 Payment of Interest and Principal 10,484,480.37 ------------- Total Withdrawals (Pool Distribution Amount) 10,788,790.91 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 (0.01) =====
SERVICING FEES Gross Servicing Fee 304,310.54 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 304,310.54 ==========
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 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%
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 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%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Original $ Original % Current $ Current % Bankruptcy 218,860.00 0.01952376% 218,860.00 0.02276431% Fraud 33,629,796.00 3.00000001% 9,908,251.45 1.03058813% Special Hazard 11,209,932.00 1.00000000% 9,698,424.34 1.00876336%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 2.924449% Weighted Average Net Coupon 2.547921% Weighted Average Pass-Through Rate 2.547921% Weighted Average Maturity (Stepdown Calculation) 311 Beginning Scheduled Collateral Loan Count 2,818 Number of Loans Paid in Full 22 Ending Scheduled Collateral Loan Count 2,796 Beginning Scheduled Collateral Balance 969,842,433.64 Ending Scheduled Collateral Balance 961,417,188.35 Ending Actual Collateral Balance at 27-Feb-2004 961,425,247.80 Monthly P&I Constant 2,363,545.61 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 961,417,188.35 Scheduled Principal 0.00 Unscheduled Principal 8,425,245.29
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 230,114,323.78 Principal Balance of 6-Month Libor Loans 731,302,864.57 Pro Rata Senior Percentage 95.781057% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Payment Received from Cap Provide 0