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EX-10.1 3 f96263fexv10w1.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: DECEMBER 31, 2003 DISTRIBUTION DATE: JANUARY 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 1.59875% 949,908,049.96 1,265,554.58 11,594,267.46 0.00 938,313,782.50 X-1 81744BAB2 IO 0.76323% 0.00 147,029.78 0.00 0.00 0.00 X-2 81744BAC0 IO 0.99711% 0.00 611,217.80 0.00 0.00 0.00 A-R 81744BAD8 SEN 3.16453% 0.00 0.00 0.00 0.00 0.00 B-1 81744BAE6 SUB 1.99875% 16,815,000.00 28,007.48 0.00 0.00 16,815,000.00 B-2 81744BAF3 SUB 2.54689% 8,968,000.00 19,033.77 0.00 0.00 8,968,000.00 B-3 81744BAG1 SUB 2.54689% 6,165,000.00 13,084.65 0.00 0.00 6,165,000.00 B-4 SMT0212B4 SUB 2.54689% 2,802,000.00 5,946.99 0.00 0.00 2,802,000.00 B-5 SMT0212B5 SUB 2.54689% 1,681,000.00 3,567.77 0.00 0.00 1,681,000.00 B-6 SMT0212B6 SUB 2.54689% 4,486,095.46 9,521.33 0.00 0.00 4,486,095.46 -------------- ------------- ------------- ---- -------------- Totals 990,825,145.42 2,102,964.15 11,594,267.46 0.00 979,230,877.96 -------------- ------------- ------------- ---- -------------- Total Cumulative Class CUSIP Distribution Realized Loss ----- ----- ------------- ------------- A 81744BAA4 12,859,822.04 0.00 X-1 81744BAB2 147,029.78 0.00 X-2 81744BAC0 611,217.80 0.00 A-R 81744BAD8 0.00 0.00 B-1 81744BAE6 28,007.48 0.00 B-2 81744BAF3 19,033.77 0.00 B-3 81744BAG1 13,084.65 0.00 B-4 SMT0212B4 5,946.99 0.00 B-5 SMT0212B5 3,567.77 0.00 B-6 SMT0212B6 9,521.33 0.00 ------------- ---- Totals 13,697,231.61 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 Ending Original Face Certificate Principal Principal Realized Total Principal Certificate Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance ----- ---------------- -------------- ------------ ------------- --------- -------- --------------- -------------- A 1,080,076,000.00 949,908,049.96 0.00 11,594,267.46 0.00 0.00 11,594,267.46 938,313,782.50 X-1 0.00 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 0.00 A-R 100.00 0.00 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 16,815,000.00 B-2 8,968,000.00 8,968,000.00 0.00 0.00 0.00 0.00 0.00 8,968,000.00 B-3 6,165,000.00 6,165,000.00 0.00 0.00 0.00 0.00 0.00 6,165,000.00 B-4 2,802,000.00 2,802,000.00 0.00 0.00 0.00 0.00 0.00 2,802,000.00 B-5 1,681,000.00 1,681,000.00 0.00 0.00 0.00 0.00 0.00 1,681,000.00 B-6 4,486,095.46 4,486,095.46 0.00 0.00 0.00 0.00 0.00 4,486,095.46 ---------------- -------------- ---- ------------- ---- ---- ------------- -------------- Totals 1,120,993,195.46 990,825,145.42 0.00 11,594,267.46 0.00 0.00 11,594,267.46 979,230,877.96 ---------------- -------------- ---- ------------- ---- ---- ------------- -------------- Ending Certificate Total Principal Class Percentage Distribution ----- ----------- --------------- A 0.86874792 11,594,267.46 X-1 0.00000000 0.00 X-2 0.00000000 0.00 A-R 0.00000000 0.00 B-1 1.00000000 0.00 B-2 1.00000000 0.00 B-3 1.00000000 0.00 B-4 1.00000000 0.00 B-5 1.00000000 0.00 B-6 1.00000000 0.00 ---------- ------------- Totals 0.87353865 11,594,267.46 ---------- -------------
(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 Ending Original Face Certificate Principal Principal Realized Total Principal Certificate Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance - ----- ---------------- -------------- ------------ ------------ ---------- ---------- --------------- ------------- A 1,080,076,000.00 879.48260119 0.00000000 10.73467743 0.00000000 0.00000000 10.73467743 868.74792376 X-1 0.00 0.00000000 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 0.00000000 A-R 100.00 0.00000000 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 1000.00000000 B-2 8,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-3 6,165,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-4 2,802,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-5 1,681,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-6 4,486,095.46 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 Ending Certificate Total Principal Class Percentage Distribution - ----- ----------- --------------- A 0.86874792 10.73467743 X-1 0.00000000 0.00000000 X-2 0.00000000 0.00000000 A-R 0.00000000 0.00000000 B-1 1.00000000 0.00000000 B-2 1.00000000 0.00000000 B-3 1.00000000 0.00000000 B-4 1.00000000 0.00000000 B-5 1.00000000 0.00000000 B-6 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- Current Beginning Current Unpaid Current Supported Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized Total Interest Class Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (4) Distribution ----- ---------------- ----------- ---------------- ------------ ---------- --------- --------- -------- -------------- A 1,080,076,000.00 1.59875% 949,908,049.96 1,265,554.58 0.00 0.00 0.00 0.00 1,265,554.58 X-1 0.00 0.76323% 231,162,303.70 147,024.42 0.00 0.00 0.00 0.00 147,029.78 X-2 0.00 0.99711% 735,560,746.26 611,195.52 0.00 0.00 0.00 0.00 611,217.80 A-R 100.00 3.16453% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 16,815,000.00 1.99875% 16,815,000.00 28,007.48 0.00 0.00 0.00 0.00 28,007.48 B-2 8,968,000.00 2.54689% 8,968,000.00 19,033.77 0.00 0.00 0.00 0.00 19,033.77 B-3 6,165,000.00 2.54689% 6,165,000.00 13,084.65 0.00 0.00 0.00 0.00 13,084.65 B-4 2,802,000.00 2.54689% 2,802,000.00 5,946.99 0.00 0.00 0.00 0.00 5,946.99 B-5 1,681,000.00 2.54689% 1,681,000.00 3,567.77 0.00 0.00 0.00 0.00 3,567.77 B-6 4,486,095.46 2.54689% 4,486,095.46 9,521.33 0.00 0.00 0.00 0.00 9,521.33 ---------------- -------- -------------- ------------ ---- ---- ---- ---- ------------ Totals 1,120,993,195.46 2,102,936.51 0.00 0.00 0.00 0.00 2,102,964.15 ---------------- ------------ ---- ---- ---- ---- ------------ Remaining Ending Unpaid Certificate/ Interest Notational Class Shortfall Balance ----- --------- --------------- A 0.00 938,313,782.50 X-1 0.00 227,555,844.04 X-2 0.00 727,572,938.46 A-R 0.00 0.00 B-1 0.00 16,815,000.00 B-2 0.00 8,968,000.00 B-3 0.00 6,165,000.00 B-4 0.00 2,802,000.00 B-5 0.00 1,681,000.00 B-6 0.00 4,486,095.46 ---- -------------- Totals 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 Current Unpaid Current Supported Class Original Face Certificate Certificate Accrued Interest Interest Interest Realized Total Interest (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) Distribution - ----- ---------------- ----------- ---------------- ---------- ---------- ---------- ---------- ---------- -------------- A 1,080,076,000.00 1.59875% 879.48260119 1.17172734 0.00000000 0.00000000 0.00000000 0.00000000 1.17172734 X-1 0.00 0.76323% 925.70696831 0.58877044 0.00000000 0.00000000 0.00000000 0.00000000 0.58879190 X-2 0.00 0.99711% 868.24954108 0.72144990 0.00000000 0.00000000 0.00000000 0.00000000 0.72147620 A-R 100.00 3.16453% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1.99875% 1000.00000000 1.66562474 0.00000000 0.00000000 0.00000000 0.00000000 1.66562474 B-2 8,968,000.00 2.54689% 1000.00000000 2.12240968 0.00000000 0.00000000 0.00000000 0.00000000 2.12240968 B-3 6,165,000.00 2.54689% 1000.00000000 2.12240876 0.00000000 0.00000000 0.00000000 0.00000000 2.12240876 B-4 2,802,000.00 2.54689% 1000.00000000 2.12240899 0.00000000 0.00000000 0.00000000 0.00000000 2.12240899 B-5 1,681,000.00 2.54689% 1000.00000000 2.12240928 0.00000000 0.00000000 0.00000000 0.00000000 2.12240928 B-6 4,486,095.46 2.54689% 1000.00000000 2.12240914 0.00000000 0.00000000 0.00000000 0.00000000 2.12240914 Remaining Unpaid Class Interest Ending Certificate/ (5) Shortfall Notational Balance - ----- ---------- ------------------- A 0.00000000 868.74792376 X-1 0.00000000 911.26462722 X-2 0.00000000 858.82080186 A-R 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 B-2 0.00000000 1000.00000000 B-3 0.00000000 1000.00000000 B-4 0.00000000 1000.00000000 B-5 0.00000000 1000.00000000 B-6 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 14,009,165.37 Liquidations, Insurance Proceeds, Reserve Funds 27.64 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 14,009,193.01 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 311,961.40 Payment of Interest and Principal 13,697,231.61 ------------- Total Withdrawals (Pool Distribution Amount) 14,009,193.01 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 311,961.40 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 311,961.40 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ --------- ----------- -------- ------- Reserve Fund 10,000.00 27.64 27.64 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 - ---------- - ---- - ---- v 177,206.76 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 v 177,206.76 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 v 177,206.76 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 0.02235019% Fraud 33,629,796.00 3.00000001% 19,816,502.91 2.02368036% Special Hazard 11,209,932.00 1.00000000% 9,792,308.78 1.00000000%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 2.924711% Weighted Average Net Coupon 2.546891% Weighted Average Pass-Through Rate 2.546891% Weighted Average Maturity (Stepdown Calculation) 313 Beginning Scheduled Collateral Loan Count 2,863 Number of Loans Paid in Full 24 Ending Scheduled Collateral Loan Count 2,839 Beginning Scheduled Collateral Balance 990,825,145.42 Ending Scheduled Collateral Balance 979,230,877.96 Ending Actual Collateral Balance at 31-Dec-2003 979,237,853.24 Monthly P&I Constant 2,414,897.91 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 979,230,877.96 Scheduled Principal 0.00 Unscheduled Principal 11,594,267.46
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 233,298,077.73 Principal Balance of 6-Month Libor Loans 745,932,800.23 Pro Rata Senior Percentage 95.870402% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Payment Received from Cap Provide 0