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

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Summary

This document is a distribution summary for certificateholders of the SMT Series 2002-12, 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 December 31, 2002, with distributions occurring on January 21, 2003. The summary includes beginning and ending balances, interest rates, and payment amounts for each class. All calculations are made 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 f87275gexv10w1.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, 2002 DISTRIBUTION DATE: JANUARY 21, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
- ---------------------------------------------------------------------------------------------------------------- Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution - ---------------------------------------------------------------------------------------------------------------- A 81744BAA4 SEN 1.87000% 1,080,076,000.00 1,739,222.38 2,651,309.73 X-1 81744BAB2 IO 1.02839% 0.00 214,002.10 0.00 X-2 81744BAC0 IO 1.23010% 0.00 868,428.05 0.00 A-R 81744BAD8 SEN 3.12285% 100.00 0.26 100.00 B-1 81744BAE6 SUB 2.27000% 16,815,000.00 32,868.65 0.00 B-2 81744BAF3 SUB 3.12285% 8,968,000.00 23,338.09 0.00 B-3 81744BAG1 SUB 3.12285% 6,165,000.00 16,043.64 0.00 B-4 SMT0212B4 SUB 3.12285% 2,802,000.00 7,291.85 0.00 B-5 SMT0212B5 SUB 3.12285% 1,681,000.00 4,374.59 0.00 B-6 SMT0212B6 SUB 3.12285% 4,486,095.46 11,674.50 0.00 - ---------------------------------------------------------------------------------------------------------------- Totals 1,120,993,195.46 2,917,244.11 2,651,409.73 - ----------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- Ending Current Certificate Total Cumulative Class Realized Loss Balance Distribution Realized Loss - -------------------------------------------------------------------------------- A 0.00 1,077,424,690.27 4,390,532.11 0.00 X-1 0.00 0.00 214,002.10 0.00 X-2 0.00 0.00 868,428.05 0.00 A-R 0.00 0.00 100.26 0.00 B-1 0.00 16,815,000.00 32,868.65 0.00 B-2 0.00 8,968,000.00 23,338.09 0.00 B-3 0.00 6,165,000.00 16,043.64 0.00 B-4 0.00 2,802,000.00 7,291.85 0.00 B-5 0.00 1,681,000.00 4,374.59 0.00 B-6 0.00 4,486,095.46 11,674.50 0.00 - ---------------------------------------------------------------------------------- Totals 0.00 1,118,341,785.73 5,568,653.84 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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - ------------------------------------------------------------------------------------------------------------------------ A 1,080,076,000.00 1,080,076,000.00 0.00 2,651,309.73 0.00 0.00 2,651,309.73 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 100.00 100.00 0.00 100.00 0.00 0.00 100.00 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 1,120,993,195.46 0.00 2,651,409.73 0.00 0.00 2,651,409.730 - ------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------- Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution - -------------------------------------------------------------- A 1,077,424,690.27 0.99754526 2,651,309.73 X-1 0.00 0.00000000 0.00 X-2 0.00 0.00000000 0.00 A-R 0.00 0.00000000 100.00 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 1,118,341,785.73 0.99763477 2,651,409.73 - --------------------------------------------------------------
(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 1000.00000000 0.00000000 2.45474368 0.00000000 0.00000000 2.45474368 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 1000.00000000 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000 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 Ending Certificate Certificate Total Principal Class Balance Percentage Distribution - ------------------------------------------------------------- A 997.54525632 0.99754526 2.45474368 X-1 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 1000.00000000 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 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 1.87000% 1,080,076,000.00 1,739,222.38 0.00 0.00 0.00 0.00 X-1 0.00 1.02839% 249,714,339.00 214,002.10 0.00 0.00 0.00 0.00 X-2 0.00 1.23010% 847,176,660.00 868,428.05 0.00 0.00 0.00 0.00 A-R 100.00 3.12285% 100.00 0.26 0.00 0.00 0.00 0.00 B-1 16,815,000.00 2.27000% 16,815,000.00 32,868.65 0.00 0.00 0.00 0.00 B-2 8,968,000.00 3.12285% 8,968,000.00 23,338.09 0.00 0.00 0.00 0.00 B-3 6,165,000.00 3.12285% 6,165,000.00 16,043.64 0.00 0.00 0.00 0.00 B-4 2,802,000.00 3.12285% 2,802,000.00 7,291.85 0.00 0.00 0.00 0.00 B-5 1,681,000.00 3.12285% 1,681,000.00 4,374.59 0.00 0.00 0.00 0.00 B-6 4,486,095.46 3.12285% 4,486,095.46 11,674.50 0.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------------------------------------------------- Totals 1,120,993,195.46 2,917,244.11 0.00 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - --------------------------------------------------------- A 1,739,222.38 0.00 1,077,424,690.27 X-1 214,002.10 0.00 248,615,997.41 X-2 868,428.05 0.00 845,623,692.86 A-R 0.26 0.00 0.00 B-1 32,868.65 0.00 16,815,000.00 B-2 23,338.09 0.00 8,968,000.00 B-3 16,043.64 0.00 6,165,000.00 B-4 7,291.85 0.00 2,802,000.00 B-5 4,374.59 0.00 1,681,000.00 B-6 11,674.50 0.00 4,486,095.46 - --------------------------------------------------------- Totals 2,917,244.11 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 Original Face Certificate Certificate Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ------------------------------------------------------------------------------------------------------------------------------------ A 1,080,076,000.00 1.87000% 1000.00000000 1.61027778 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 1.02839% 1000.00000000 0.85698763 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 1.23010% 1000.00000000 1.02508496 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.12285% 1000.00000000 2.60000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 2.27000% 1000.00000000 1.95472197 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,968,000.00 3.12285% 1000.00000000 2.60237400 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,165,000.00 3.12285% 1000.00000000 2.60237470 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,802,000.00 3.12285% 1000.00000000 2.60237330 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,681,000.00 3.12285% 1000.00000000 2.60237359 0.00000000 0.00000000 0.00000000 0.00000000 B-6 4,486,095.46 3.12285% 1000.00000000 2.60237440 0.00000000 0.00000000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------- Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance - ------------------------------------------------------------- A 1.61027778 0.00000000 997.54525623 X-1 0.85698763 0.00000000 995.60160784 X-2 1.02508496 0.00000000 998.16689102 A-R 2.60000000 0.00000000 0.00000000 B-1 1.95472197 0.00000000 1000.00000000 B-2 2.60237400 0.00000000 1000.00000000 B-3 2.60237470 0.00000000 1000.00000000 B-4 2.60237330 0.00000000 1000.00000000 B-5 2.60237359 0.00000000 1000.00000000 B-6 2.60237440 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 5,909,919.89 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 11,374.47 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 5,921,294.36 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 352,640.50 Payment of Interest and Principal 5,568,653.86 ------------ Total Withdrawals (Pool Distribution Amount) 5,921,294.36 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 352,640.50 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------ Net Servicing Fee 352,640.50 ============
- -------------------------------------------------------------------------------- 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 13 3,990,050.00 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 ----------------------- ---------------------- -------------------- 13 3,990,050.00 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 0.409191% 0.356783% 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% ----------------------- ---------------------- -------------------- 0.409191% 0.356783% 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 13 3,990,050.00 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 13 3,990,050.00 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 0.409191% 0.356783% 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% 0.409191% 0.356783% --------------------------------- ----------------------------------
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 11,374.47
Original $ Original % Current $ Current % Bankruptcy 218,860.00 0.01952376% 218,860.00 0.01957005% Fraud 33,629,796.00 3.00000001% 33,629,796.00 3.00711253% Special Hazard 11,209,932.00 1.00000000% 11,209,932.00 1.00237084%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.500344% Weighted Average Net Coupon 3.122849% Weighted Average Pass-Through Rate 3.122849% Weighted Average Maturity (Stepdown Calculation) 325 Beginning Scheduled Collateral Loan Count 3,182 Number of Loans Paid in Full 5 Ending Scheduled Collateral Loan Count 3,177 Beginning Scheduled Collateral Balance 1,120,993,195.46 Ending Scheduled Collateral Balance 1,118,341,785.73 Ending Actual Collateral Balance at 31-Dec-2002 1,118,342,344.55 Monthly P&I Constant 3,269,884.63 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 1,118,341,785.73 Scheduled Principal 0.00 Unscheduled Principal 2,651,409.73
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 254,092,097.90 Principal Balance of 6-Month Libor Loans 864,249,687.83 Pro Rata Senior Percentage 96.349925% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%