Certificateholder Distribution Statement for SMT Series 2002-12 Administered by Wells Fargo Bank Minnesota, N.A.

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Summary

This document is a distribution statement for certificateholders of the SMT Series 2002-12, prepared 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 statement outlines the beginning and ending balances, interest rates, and payment amounts for each class, as well as any realized losses. All calculations are made in accordance with the Pooling and Servicing Agreement governing the trust.

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EX-10.1 3 f97116hexv10w1.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 30, 2004 DISTRIBUTION DATE: FEBRUARY 20, 2004 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 1.55000% 938,313,782.50 1,211,988.64 9,388,444.32 0.00 928,925,338.18 X-1 81744BAB2 IO 0.81364% 0.00 154,290.33 0.00 0.00 0.00 X-2 81744BAC0 IO 1.04745% 0.00 635,078.44 0.00 0.00 0.00 A-R 81744BAD8 SEN 3.16256% 0.00 0.00 0.00 0.00 0.00 B-1 81744BAE6 SUB 1.95000% 16,815,000.00 27,324.38 0.00 0.00 16,815,000.00 B-2 81744BAF3 SUB 2.54879% 8,968,000.00 19,047.92 0.00 0.00 8,968,000.00 B-3 81744BAG1 SUB 2.54879% 6,165,000.00 13,094.38 0.00 0.00 6,165,000.00 B-4 SMT0212B4 SUB 2.54879% 2,802,000.00 5,951.41 0.00 0.00 2,802,000.00 B-5 SMT0212B5 SUB 2.54879% 1,681,000.00 3,570.42 0.00 0.00 1,681,000.00 B-6 SMT0212B6 SUB 2.54879% 4,486,095.46 9,528.41 0.00 0.00 4,486,095.46 - ------------------------------------------------------------------------------------------------------------------------------- Totals 979,230,877.96 2,079,874.33 9,388,444.32 0.00 969,842,433.64 - ------------------------------------------------------------------------------------------------------------------------------- Total Cumulative Class Distribution Realized Loss - ---------------------------------------- A 10,600,432.96 0.00 X-1 154,290.33 0.00 X-2 635,078.44 0.00 A-R 0.00 0.00 B-1 27,324.38 0.00 B-2 19,047.92 0.00 B-3 13,094.38 0.00 B-4 5,951.41 0.00 B-5 3,570.42 0.00 B-6 9,528.41 0.00 - ---------------------------------------- Totals 11,468,318.65 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 1,080,076,000.00 938,313,782.50 0.00 9,388,444.32 0.00 0.00 X-1 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 A-R 100.00 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 B-2 8,968,000.00 8,968,000.00 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 B-4 2,802,000.00 2,802,000.00 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 B-6 4,486,095.46 4,486,095.46 0.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------------------------- Totals 1,120,993,195.46 979,230,877.96 0.00 9,388,444.32 0.00 0.00 - ---------------------------------------------------------------------------------------------------------- Ending Ending Total Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ------------------------------------------------------------------------------------ A 9,388,444.32 928,925,338.18 0.86005553 9,388,444.32 X-1 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 B-1 0.00 16,815,000.00 1.00000000 0.00 B-2 0.00 8,968,000.00 1.00000000 0.00 B-3 0.00 6,165,000.00 1.00000000 0.00 B-4 0.00 2,802,000.00 1.00000000 0.00 B-5 0.00 1,681,000.00 1.00000000 0.00 B-6 0.00 4,486,095.46 1.00000000 0.00 - ------------------------------------------------------------------------------------ Totals 9,388,444.32 969,842,433.64 0.86516353 9,388,444.32 - ------------------------------------------------------------------------------------
(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 1,080,076,000.00 868.74792376 0.00000000 8.69239231 0.00000000 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 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 16,815,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------- Ending Ending Total Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ------------------------------------------------------------------------------------ A 8.69239231 860.05553144 0.86005553 8.69239231 X-1 0.00000000 0.00000000 0.00000000 0.00000000 X-2 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
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 1.55000% 938,313,782.50 1,211,988.64 0.00 0.00 0.00 0.00 X-1 0.00 0.81364% 227,555,844.04 154,290.33 0.00 0.00 0.00 0.00 X-2 0.00 1.04745% 727,572,938.46 635,078.44 0.00 0.00 0.00 0.00 A-R 100.00 3.16256% 0.00 0.00 0.00 0.00 0.00 0.00 B-1 16,815,000.00 1.95000% 16,815,000.00 27,324.38 0.00 0.00 0.00 0.00 B-2 8,968,000.00 2.54879% 8,968,000.00 19,047.92 0.00 0.00 0.00 0.00 B-3 6,165,000.00 2.54879% 6,165,000.00 13,094.38 0.00 0.00 0.00 0.00 B-4 2,802,000.00 2.54879% 2,802,000.00 5,951.41 0.00 0.00 0.00 0.00 B-5 1,681,000.00 2.54879% 1,681,000.00 3,570.42 0.00 0.00 0.00 0.00 B-6 4,486,095.46 2.54879% 4,486,095.46 9,528.41 0.00 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------------------------------- Totals 1,120,993,195.46 2,079,874.33 0.00 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------------------------------------------------------------- A 1,211,988.64 0.00 928,925,338.18 X-1 154,290.33 0.00 225,991,122.33 X-2 635,078.44 0.00 719,749,215.85 A-R 0.00 0.00 0.00 B-1 27,324.38 0.00 16,815,000.00 B-2 19,047.92 0.00 8,968,000.00 B-3 13,094.38 0.00 6,165,000.00 B-4 5,951.41 0.00 2,802,000.00 B-5 3,570.42 0.00 1,681,000.00 B-6 9,528.41 0.00 4,486,095.46 - ------------------------------------------------------------- Totals 2,079,874.33 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 (5) Original Face Certificate Certificate Accrued Interest Interest Interest Realized Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ------------------------------------------------------------------------------------------------------------------------------------ A 1,080,076,000.00 1.55000% 868.74792376 1.12213274 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.81364% 911.26462722 0.61786732 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 1.04745% 858.82080186 0.74964110 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.16256% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1.95000% 1000.00000000 1.62500030 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 2.54879% 1000.00000000 2.12398751 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 2.54879% 1000.00000000 2.12398702 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 2.54879% 1000.00000000 2.12398644 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 2.54879% 1000.00000000 2.12398572 0.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 2.54879% 1000.00000000 2.12398735 0.00000000 0.00000000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Unpaid Total Interest Interest Ending Certificate/ Class (5) Distribution Shortfall Notational Balance - ----------------------------------------------------------------- A 1.12213274 0.00000000 860.05553144 X-1 0.61786732 0.00000000 904.99858052 X-2 0.74964110 0.00000000 849.58574738 A-R 0.00000000 0.00000000 0.00000000 B-1 1.62500030 0.00000000 1000.00000000 B-2 2.12398751 0.00000000 1000.00000000 B-3 2.12398702 0.00000000 1000.00000000 B-4 2.12398644 0.00000000 1000.00000000 B-5 2.12398572 0.00000000 1000.00000000 B-6 2.12398735 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 11,776,656.84 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 11,776,656.84 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 308,338.18 Payment of Interest and Principal 11,468,318.66 ------------- Total Withdrawals (Pool Distribution Amount) 11,776,656.84 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 308,338.18 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------- Net Servicing Fee 308,338.18 =============
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% Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 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 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% Periodic Advance 0.00
Original $ Original % Current $ Current % Bankruptcy 218,860.00 0.01952376% 218,860.00 0.02256655% Fraud 33,629,796.00 3.00000001% 9,908,251.45 1.02163518% Special Hazard 11,209,932.00 1.00000000% 9,698,424.34 1.00000000%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 2.926639% Weighted Average Net Coupon 2.548785% Weighted Average Pass-Through Rate 2.548785% Weighted Average Maturity (Stepdown Calculation) 312 Beginning Scheduled Collateral Loan Count 2,839 Number of Loans Paid in Full 21 Ending Scheduled Collateral Loan Count 2,818 Beginning Scheduled Collateral Balance 979,230,877.96 Ending Scheduled Collateral Balance 969,842,433.64 Ending Actual Collateral Balance at 30-Jan-2004 969,849,901.52 Monthly P&I Constant 2,388,212.51 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 969,842,433.64 Scheduled Principal 0.00 Unscheduled Principal 9,388,444.32
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 231,750,482.89 Principal Balance of 6-Month Libor Loans 738,091,950.75 Pro Rata Senior Percentage 95.821507% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Payment Received from Cap Provide 0