Certificateholder Distribution Summary for SMT Series 2002-11 (Wells Fargo Bank Minnesota, N.A.)

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Summary

This document is a distribution summary for certificateholders of the SMT Series 2002-11, administered by Wells Fargo Bank Minnesota, N.A. It details the interest and principal payments made to holders of various classes of certificates as of January 30, 2004, with distributions occurring on February 20, 2004. The summary includes beginning and ending balances, interest rates, and realized losses for each class. All calculations are performed in accordance with the Pooling and Servicing Agreement, and no realized losses are reported for this period.

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EX-10.1 3 f97116iexv10w1.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 30, 2004 DISTRIBUTION DATE: FEBRUARY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution - -------------------------------------------------------------------------- A 81744AAA6 SEN 1.55000% 592,079,654.44 764,769.55 X-1A 81744AAC2 IO 0.91699% 0.00 130,439.46 X-1B 81744AAD0 IO 1.03815% 0.00 364,550.39 X-B 81744AAE8 IO 0.48322% 0.00 3,916.52 A-R 81744AAF5 SEN 3.25039% 0.00 0.00 B-1 81744AAB4 SUB 2.07000% 9,726,000.00 16,777.35 B-2 81744AAG3 SUB 2.55322% 5,764,000.00 12,263.98 B-3 81744AAH1 SUB 2.55322% 3,962,000.00 8,429.89 B-4 SMT0211B4 SUB 2.55322% 1,801,000.00 3,831.96 B-5 SMT0211B5 SUB 2.55322% 1,080,000.00 2,297.90 B-6 SMT0211B6 SUB 2.55322% 2,882,787.00 6,133.66 - -------------------------------------------------------------------------- Totals 617,295,441.44 1,313,410.66 - -------------------------------------------------------------------------- Ending Principal Current Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - -------------------------------------------------------------------------------- A 7,864,279.10 0.00 584,215,375.34 8,629,048.65 0.00 X-1A 0.00 0.00 0.00 130,439.46 0.00 X-1B 0.00 0.00 0.00 364,550.39 0.00 X-B 0.00 0.00 0.00 3,916.52 0.00 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 9,726,000.00 16,777.35 0.00 B-2 0.00 0.00 5,764,000.00 12,263.98 0.00 B-3 0.00 0.00 3,962,000.00 8,429.89 0.00 B-4 0.00 0.00 1,801,000.00 3,831.96 0.00 B-5 0.00 0.00 1,080,000.00 2,297.90 0.00 B-6 0.00 0.00 2,882,787.00 6,133.66 0.00 - ---------------------------------------------------------------------------- Totals 7,864,279.10 0.00 609,431,162.34 9,177,689.76 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 695,210,000.00 592,079,654.44 0.13 7,864,278.97 0.00 0.00 X-1A 0.00 0.00 0.00 0.00 0.00 0.00 X-1B 0.00 0.00 0.00 0.00 0.00 0.00 X-B 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 9,726,000.00 9,726,000.00 0.00 0.00 0.00 0.00 B-2 5,726,000.00 5,764,000.00 0.00 0.00 0.00 0.00 B-3 3,962,000.00 3,962,000.00 0.00 0.00 0.00 0.00 B-4 1,801,000.00 1,801,000.00 0.00 0.00 0.00 0.00 B-5 1,080,000.00 1,080,000.00 0.00 0.00 0.00 0.00 B-6 2,882,787.00 2,882,787.00 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------------------------- Totals 720,425,887.00 617,295,441.44 0.13 7,864,278.97 0.00 0.00 - ------------------------------------------------------------------------------------- Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ------------------------------------------------------------------ A 7,864,279.10 584,215,375.34 0.84034375 7,864,279.10 X-1A 0.00 0.00 0.00000000 0.00 X-1B 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 B-1 0.00 9,726,000.00 1.00000000 0.00 B-2 0.00 5,764,000.00 1.00000000 0.00 B-3 0.00 3,962,000.00 1.00000000 0.00 B-4 0.00 1,801,000.00 1.00000000 0.00 B-5 0.00 1,080,000.00 1.00000000 0.00 B-6 0.00 2,882,787.00 1.00000000 0.00 - ---------------------------------------------------------------- Totals 7,864,279.10 609,431,162.34 0.84593179 7,864,279.10 - ----------------------------------------------------------------
(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 695,210,000.00 851.65583700 0.00000019 11.31209127 0.00000000 0.00000000 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 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 9,726,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,764,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,962,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,801,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,080,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,882,787.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - --------------------------------------------------------------- A 11.31209145 840.34374554 0.84034375 11.31209145 X-1A 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 0.00000000 X-B 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
Beginning Payment of Non- Current Certificate/ Current Unpaid Current Supported Original Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------------------------------------------------------------------------------------------------------------- A 695,210,000.00 1.55000% 592,079,654.44 764,769.55 0.00 0.00 0.02 0.00 X-1A 0.00 0.91699% 170,696,581.83 130,439.46 0.00 0.00 0.00 0.00 X-1B 0.00 1.03815% 421,383,072.61 364,550.39 0.00 0.00 0.00 0.00 X-B 0.00 0.48322% 9,726,000.00 3,916.52 0.00 0.00 0.00 0.00 A-R 100.00 3.25039% 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,726,000.00 2.07000% 9,726,000.00 16,777.35 0.00 0.00 0.00 0.00 B-2 5,764,000.00 2.55322% 5,764,000.00 12,263.98 0.00 0.00 0.00 0.00 B-3 3,962,000.00 2.55322% 3,962,000.00 8,429.89 0.00 0.00 0.00 0.00 B-4 1,801,000.00 2.55322% 1,801,000.00 3,831.96 0.00 0.00 0.00 0.00 B-5 1,080,000.00 2.55322% 1,080,000.00 2,297.90 0.00 0.00 0.00 0.00 B-6 2,882,787.00 2.55322% 2,882,787.00 6,133.66 0.00 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------------- Totals 720,425,887.00 1,313,410.66 0.00 0.00 0.02 0.00 - ----------------------------------------------------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------------------------------------------------- A 764,769.55 0.00 584,215,375.34 X-1A 130,439.46 0.00 170,352,451.10 X-1B 364,550.39 0.00 413,862,924.24 X-B 3,916.52 0.00 9,726,000.00 A-R 0.00 0.00 0.00 B-1 16,777.35 0.00 9,726,000.00 B-2 12,263.98 0.00 5,764,000.00 B-3 8,429.89 0.00 3,962,000.00 B-4 3,831.96 0.00 1,801,000.00 B-5 2,297.90 0.00 1,080,000.00 B-6 6,133.66 0.00 2,882,787.00 - ------------------------------------------------- Totals 1,313,410.66 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
Beginning Payment of Non- Current Certificate/ Current Unpaid Current Supported Class Original Face Certificate Notional Accrued Interest Interest Interest Realized (5) Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (6) - ------------------------------------------------------------------------------------------------------------- A 695,210,000.00 1.55000% 851.65583700 1.10005545 0.00000000 0.00000000 0.00000003 0.00000000 X-1A 0.00 0.91699% 890.15094826 0.68021754 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 1.03815% 836.99338264 0.72410660 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.48322% 1000.00000000 0.40268559 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.25039% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,726,000.00 2.07000% 1000.00000000 1.72500000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,726,000.00 2.55322% 1000.00000000 2.12768563 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,962,000.00 2.55322% 1000.00000000 2.12768551 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,801,000.00 2.55322% 1000.00000000 2.12768462 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,080,000.00 2.55322% 1000.00000000 2.12768519 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,882,787.00 2.55322% 1000.00000000 2.12768408 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Unpaid Certificate/ Class Total Interest Interest Notational (5) Distribution Shortfall Balance - ------------------------------------------------ A 1.10005545 0.00000000 840.34374554 X-1A 0.68021754 0.00000000 888.35637046 X-1B 0.72410660 0.00000000 822.05610862 X-B 0.40268559 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 B-1 1.72500000 0.00000000 1000.00000000 B-2 2.12768563 0.00000000 1000.00000000 B-3 2.12768551 0.00000000 1000.00000000 B-4 2.12768462 0.00000000 1000.00000000 B-5 2.12768519 0.00000000 1000.00000000 B-6 2.12768408 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 9,371,666.31 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,077.08 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 9,372,743.39 Withdrawals Reimbursement for Servicer Advances 5,241.55 Payment of Service Fee 189,812.08 Payment of Interest and Principal 9,177,689.76 ------------ Total Withdrawals (Pool Distribution Amount) 9,372,743.39 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 186,211.18 Master Servicing Fee 3,600.90 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 189,812.08 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits 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 0 0.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 42,301.91 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 431,542.26 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 --------------------- -------------------- -------------------- 2 473,844.17 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 0.056625% 0.006941% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.056625% 0.070811% 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% -------------------- ------------------- ------------------- 0.113250% 0.077752% 0.000000% 0.000000% 0.000000% 0.000000% Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 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 1 42,301.91 90 Days 0 0.00 90 Days 1 431,542.26 120 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 2 473,844.17 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 0.056625% 0.006941% 90 Days 0.000000% 0.000000% 90 Days 0.056625% 0.070811% 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% 0.113250% 0.077752% 0.00 Periodic Advance 1,077.08
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original % Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 25,215,787.00 3.50012228% 25,215,787.00 4.13759397% 95.862406% 0.000000% Class X-1-A 25,215,787.00 3.50012228% 25,215,787.00 4.13759397% 0.000000% 0.000000% Class X-1-B 25,215,787.00 3.50012228% 25,215,787.00 4.13759397% 0.000000% 0.000000% Class B-1 15,489,787.00 2.15008751% 15,489,787.00 2.54167951% 1.595914% 38.571075% Class B-2 9,725,787.00 1.35000521% 9,725,787.00 1.59587950% 0.945800% 22.858696% Class B-3 5,763,787.00 0.80005273% 5,763,787.00 0.94576506% 0.650114% 15.712379% Class B-4 3,962,787.00 0.55006172% 3,962,787.00 0.65024358% 0.295521% 7.142351% Class B-5 2,882,787.00 0.40015039% 2,882,787.00 0.47302914% 0.177214% 4.283031% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.473029% 11.432469%
Please refer to the prospectus supplement for a full description of loss exposure
Original $ Original % Current $ Current % Bankruptcy 119,754.00 0.01662267% 119,754.00 0.01965013% Fraud 21,612,777.00 3.00000005% 12,860,062.82 2.11017480% Special Hazard 11,600,000.00 1.61015869% 11,600,000.00 1.90341432%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 2.922211% Weighted Average Net Coupon 2.560223% Weighted Average Pass-Through Rate 2.553223% Weighted Average Maturity (Stepdown Calculation) 311 Beginning Scheduled Collateral Loan Count 1,783 Number of Loans Paid in Full 17 Ending Scheduled Collateral Loan Count 1,766 Beginning Scheduled Collateral Balance 617,295,441.44 Ending Scheduled Collateral Balance 609,431,162.34 Ending Actual Collateral Balance at 30-Jan-2004 609,429,198.74 Monthly P&I Constant 1,503,222.86 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 8,629,048.65 Ending Scheduled Balance for Premium Loans 609,431,162.34 Scheduled Principal 0.13 Unscheduled Principal 7,864,278.97
MISCELLANEOUS REPORTING Pro Rata Senior Percentage 95.915119% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% One Month LIBOR Loan Balance 177,705,169.47 Six Month LIBOR Loan Balance 431,725,992.87