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EX-10.1 3 f95559bexv10w1.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: NOVEMBER 28, 2003 DISTRIBUTION DATE: DECEMBER 22, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Principal Class CUSIP Description Rate Certificate Balance Distribution Distribution - ------ --------- ----------- ------------ ------------------- ------------ ------------ A 81744BAA4 SEN 1.57000% 959,312,744.82 1,255,100.84 9,404,694.86 X-1 81744BAB2 IO 0.79210% 0.00 153,121.49 0.00 X-2 81744BAC0 IO 1.04274% 0.00 646,630.28 0.00 A-R 81744BAD8 SEN 3.16448% 0.00 0.00 0.00 B-1 81744BAE6 SUB 1.97000% 16,815,000.000 27,604.63 0.00 B-2 81744BAF3 SUB 2.56006% 8,968,000.00 19,132.21 0.00 B-3 81744BAG1 SUB 2.56006% 6,165,000.00 13,152.32 0.00 B-4 SMT0212B4 SUB 2.56006% 2,802,000.00 5,977.75 0.00 B-5 SMT0212B5 SUB 2.56006% 1,681,000.00 3,586.22 0.00 B-6 SMT0212B6 SUB 2.56006% 4,486,095.46 9,570.57 0.00 - ------ --------- ----------- ------------ ------------------- ------------ ------------ Totals 1,000,229,840.28 2,133,876.31 9,404,694.86 - ------ --------- ----------- ------------ ------------------- ------------ ------------ Certificate Class Current Ending Certificate Total Cumulative Class CUSIP Description Realized Loss Balance Distribution Realized Loss - ------ --------- ----------- ------------- ------------------ ------------- ------------- A 81744BAA4 SEN 0.00 949,908,049.96 10,659,795.70 0.00 X-1 81744BAB2 IO 0.00 0.00 153,121.49 0.00 X-2 81744BAC0 IO 0.00 0.00 646,630.28 0.00 A-R 81744BAD8 SEN 0.00 0.00 0.00 0.00 B-1 81744BAE6 SUB 0.00 16,815,000.00 27,604.63 0.00 B-2 81744BAF3 SUB 0.00 8,968,000.00 19,132.21 0.00 B-3 81744BAG1 SUB 0.00 6,165,000.00 13,152.32 0.00 B-4 SMT0212B4 SUB 0.00 2,802,000.00 5,977.75 0.00 B-5 SMT0212B5 SUB 0.00 1,681,000.00 3,586.22 0.00 B-6 SMT0212B6 SUB 0.00 4,486,095.46 9,570.57 0.00 - ------ --------- ----------- ------------- ------------------ ------------- ------------- Totals 0.00 990,825,145.42 11,538,571.17 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 Class Amount Balance Distribution Distribution Accretion - ------ ---------------- ---------------- ------------ ------------ --------- A 1,080,076,000.00 959,312,744.82 0.00 9,404,694.86 0.00 X-1 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 B-1 16,815,000.00 16,815,000.00 0.00 0.00 0.00 B-2 8,968,000.00 8,968,000.00 0.00 0.00 0.00 B-3 6,165,000.00 6,165,000.00 0.00 0.00 0.00 B-4 2,802,000.00 2,802,000.00 0.00 0.00 0.00 B-5 1,681,000.00 1,681,000.00 0.00 0.00 0.00 B-6 4,486,095.46 4,486,095.46 0.00 0.00 0.00 ---------------- ---------------- ------------ ------------ --------- Totals 1,120,993,195.46 1,000,229,840.28 0.00 9,404,694.86 0.00 - ------ ---------------- ---------------- ------------ ------------ --------- Realized Total Principal Ending Certificate Ending Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ------ -------- --------------- ------------------ ------------------ --------------- A 0.00 9,404,694.86 949,908,049.96 0.87948260 9,404,694.86 X-1 0.00 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 16,815,000.00 1.00000000 0.00 B-2 0.00 0.00 8,968,000.00 1.00000000 0.00 B-3 0.00 0.00 6,165,000.00 1.00000000 0.00 B-4 0.00 0.00 2,802,000.00 1.00000000 0.00 B-5 0.00 0.00 1,681,000.00 1.00000000 0.00 B-6 0.00 0.00 4,486,095.46 1.00000000 0.00 -------- --------------- ------------------ ------------------ --------------- Totals 0.00 9,404,694.86 990,825,145.42 0.88388150 9,404,694.86 - ------ -------- --------------- ------------------ ------------------ ---------------
(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 Class Amount Balance Distribution Distribution Accretion - ------ ---------------- ---------------- ------------ ------------ ---------- A 1,080,076,000.00 888.19003924 0.00000000 8.70743805 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 1000.00000000 0.00000000 0.00000000 0.00000000 - ------ ---------------- ---------------- ------------ ------------ ---------- Ending Realized Total Principal Certificate Ending Certificate Total Principal Class Loss (3) Reduction Balance Percentage Distribution - ------ ---------- --------------- ------------- ------------------ --------------- A 0.00000000 8.70743805 879.48260119 0.87948260 8.70743805 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 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 Original Face Certificate Certificate/ Accrued Interest Interest Class Amount Rate Notional Balance Interest Shortfall Shortfall - ----- ------ ---- ---------------- -------- --------- --------- A 1,080,076,000.00 1.57000% 959,312,744.82 1,255,100.84 0.00 0.00 X-1 0.00 0.79210% 231,973,810.28 153,121.49 0.00 0.00 X-2 0.00 1.04274% 744,153,934.54 646,630.28 0.00 0.00 A-R 100.00 3.16448% 0.00 0.00 0.00 0.00 B-1 16,815,000.00 1.97000% 16,815,000.00 27,604.63 0.00 0.00 B-2 8,968,000.00 2.56006% 8,968,000.00 19,132.21 0.00 0.00 B-3 6,165,000.00 2.56006% 6,165,000.00 13,152.32 0.00 0.00 B-4 2,802,000.00 2.56006% 2,802,000.00 5,977.75 0.00 0.00 B-5 1,681,000.00 2.56006% 1,681,000.00 3,586.22 0.00 0.00 B-6 4,486,095.46 2.56006% 4,486,095.46 9,570.57 0.00 0.00 - ------ ---------------- --------- --------------- ------------ -------- --------- Totals 1,120,993,195.46 2,133,876.31 0.00 0.00 - ------ ---------------- --------- --------------- ------------ -------- --------- Remaining Ending Non-Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - ----- --------- -------- ------------ --------- ------- A 0.00 0.00 1,255,100.84 0.00 949,908,049.96 X-1 0.00 0.00 153,121.49 0.00 231,162,303.70 X-2 0.00 0.00 646,630.28 0.00 735,560,746.26 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 27,604.63 0.00 16,815,000.00 B-2 0.00 0.00 19,132.21 0.00 8,968,000.00 B-3 0.00 0.00 13,152.32 0.00 6,165,000.00 B-4 0.00 0.00 5,977.75 0.00 2,802,000.00 B-5 0.00 0.00 3,586.22 0.00 1,681,000.00 B-6 0.00 0.00 9,570.57 0.00 4,486,095.46 - ------ -------- -------- -------------- ---------- -------------- Totals 0.00 0.00 2,133,876.31 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 Original Face Certificate Certificate Accrued Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall - --------- ------ ---- ---------------- -------- --------- --------- A 1,080,076,000.00 1.57000% 888.19003924 1.16204863 0.00000000 0.00000000 X-1 0.00 0.79210% 928.95670793 0.61318661 0.00000000 0.00000000 X-2 0.00 1.04274% 878.39286618 0.76327679 0.00000000 0.00000000 A-R 100.00 3.16448% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1.97000% 1000.00000000 1.64166696 0.00000000 0.00000000 B-2 8,968,000.00 2.56006% 1000.00000000 2.13338649 0.00000000 0.00000000 B-3 6,165,000.00 2.56006% 1000.00000000 2.13338524 0.00000000 0.00000000 B-4 2,802,000.00 2.56006% 1000.00000000 2.13338687 0.00000000 0.00000000 B-5 1,681,000.00 2.56006% 1000.00000000 2.13338489 0.00000000 0.00000000 B-6 4,486,095.46 2.56006% 1000.00000000 2.13338528 0.00000000 0.00000000 - --------- ---------------- --------- ---------------- ---------- ---------- ---------- Remaining Non-Supported Unpaid Interest Realized Total Interest Interest Ending Certificate/ Class (5) Shortfall Loss (6) Distribution Shortfall Notational Balance - --------- --------- -------- ------------ --------- ------------------ A 0.00000000 0.00000000 1.16204863 0.00000000 879.48260119 X-1 0.00000000 0.00000000 0.61318661 0.00000000 925.70696831 X-2 0.00000000 0.00000000 0.76327679 0.00000000 868.24954108 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.64166696 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.13338649 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.13338524 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.13338687 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.13338489 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.13338528 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 11,853,914.54 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 11,853,914.54 Withdrawals Reimbursement for Servicer Advances 443.01 Payment of Service Fee 314,900.36 Payment of Interest and Principal 11,538,571.17 ------------- Total Withdrawals (Pool Distribution Amount) 11,853,914.54 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 314,900.36 Supported Prepayment/Curtailment Interest Shortfall 0.00 -------------- Net Servicing Fee 314,900.36 ==============
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 1 177,206.76 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 -------- ---------- ------- -------- ------- -------- 1 177,206.76 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 0.034650% 0.017717% 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% -------- -------- -------- -------- -------- -------- 0.034650% 0.017717% 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 1 177,206.76 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 1 177,206.76 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 0.034650% 0.017717% 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% 0.034650% 0.017717%
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 0.02208866% Fraud 33,629,796.00 3.00000001% 33,629,796.00 3.39412016% Special Hazard 11,209,932.00 1.00000000% 10,303,554.54 1.03989635%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 2.937857% Weighted Average Net Coupon 2.560063% Weighted Average Pass-Through Rate 2.560063% Weighted Average Maturity (Stepdown Calculation) 314 Beginning Scheduled Collateral Loan Count 2,886 Number of Loans Paid in Full 23 Ending Scheduled Collateral Loan Count 2,863 Beginning Scheduled Collateral Balance 1,000,229,840.28 Ending Scheduled Collateral Balance 990,825,145.42 Ending Actual Collateral Balance at 28-Nov-2003 990,831,086.94 Monthly P&I Constant 2,448,776.67 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 990,825,145.42 Scheduled Principal 0.00 Unscheduled Principal 9,404,694.86
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 236,925,584.00 Principal Balance of 6-Month Libor Loans 753,899,561.42 Pro Rata Senior Percentage 95.909231% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Payment Received from Cap Provide 0