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

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. for certificateholders of the SMT Series 2002-11 trust. It summarizes the principal and interest payments made to holders of various classes of certificates as of December 20, 2002, in accordance with the Pooling and Servicing Agreement. The statement details the amounts distributed, current balances, and any realized losses (none reported) for each class. No losses or interest shortfalls occurred during this period, and all calculations were performed by the Certificate Administrator on behalf of the Trustee.

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EX-10.1 3 f86816exv10w1.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: NOVEMBER 29, 2002 DISTRIBUTION DATE: DECEMBER 20, 2002 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Current Ending Class Pass-Through Certificate Interest Principal Realized Certificate Total Class CUSIP Description Rate Balance Distribution Distribution Loss Balance Distribution A 81744AAA6 SEN 1.83813% 692,541,423.11 1,060,817.64 3,168,401.59 0.00 689,373,021.52 4,229,219.23 X-1A 81744AAC2 IO 1.36325% 0.00 217,168.74 0.00 0.00 0.00 217,168.74 X-1B 81744AAD0 IO 1.50846% 0.00 630,261.32 0.00 0.00 0.00 630,261.32 X-B 81744AAE8 IO 0.94838% 0.00 7,690.89 0.00 0.00 0.00 7,690.89 A-R 81744AAF5 SEN 3.30946% 0.00 0.00 0.00 0.00 0.00 0.00 B-1 81744AAB4 SUB 2.35813% 9,726,000.00 19,112.64 0.00 0.00 9,726,000.00 19,112.64 B-2 81744AAG3 SUB 3.30651% 5,764,000.00 15,882.25 0.00 0.00 5,764,000.00 15,882.25 B-3 81744AAH1 SUB 3.30651% 3,962,000.00 10,916.98 0.00 0.00 3,962,000.00 10,916.98 B-4 SMT0211B4 SUB 3.30651% 1,801,000.00 4,962.51 0.00 0.00 1,801,000.00 4,962.51 B-5 SMT0211B5 SUB 3.30651% 1,080,000.00 2,975.86 0.00 0.00 1,080,000.00 2.975.86 B-6 SMT0211B6 SUB 3.30651% 2,882,787.00 7,943.29 0.00 0.00 2,882,787.00 7,943.29 Totals 717,757,210.11 1,977,732.12 3,168,401.59 0.00 714,588,808.52 5,146,133.71
Cumulative Class Realized Loss A 0.00 X-1A 0.00 X-1B 0.00 X-B 0.00 A-R 0.00 B-1 0.00 B-2 0.00 B-3 0.00 B-4 0.00 B-5 0.00 B-6 0.00 Totals 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 Ending Ending Original Face Certificate Principal Principal Realized Principal Certificate Certificate Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance Percentage A 695,210,000.00 692,541,423.11 1,340.63 3,167,060.96 0.00 0.00 3,168,401.59 689,373,021.52 0.99160401 X-1A 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 X-1B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00000000 B-1 9,726,000.00 9,726,000.00 0.00 0.00 0.00 0.00 0.00 9,726,000.00 1.00000000 B-2 5,726,000.00 5,764,000.00 0.00 0.00 0.00 0.00 0.00 5,764,000.00 1.00000000 B-3 3,962,000.00 3,962,000.00 0.00 0.00 0.00 0.00 0.00 3,962,000.00 1.00000000 B-4 1,801,000.00 1,801,000.00 0.00 0.00 0.00 0.00 0.00 1,801,000.00 1.00000000 B-5 1,080,000.00 1,080,000.00 0.00 0.00 0.00 0.00 0.00 1,080,000.00 1.00000000 B-6 2,882,787.00 2,882,787.00 0.00 0.00 0.00 0.00 0.00 2,882,787.00 1.00000000 Totals 720,425,887.00 717,757,210.11 1,340.63 3,167,060.96 0.00 0.00 3,168,401.59 714,588,808.52 0.99189774
Total Principal Class Distribution A 3,168,401.59 X-1A 0.00 X-1B 0.00 X-B 0.00 A-R 0.00 B-1 0.00 B-2 0.00 B-3 0.00 B-4 0.00 B-5 0.00 B-6 0.00 Totals 3,168,401.59
(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 Total Ending Ending Original Face Certificate Principal Principal Realized Principal Certificate Certificate Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance Percentage A 695,210,000.00 996.16148086 0.00192838 4.55554575 0.00000000 0.00000000 4.55747413 991.60400673 0.99160401 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 1000.00000000 0.00000000 0.00000000 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 0.00000000 1000.00000000 1.00000000 B-2 5,764,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-3 3,962,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-4 1,801,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-5 1,080,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-6 2,882,787.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000
Total Principal Class Distribution A 4.55747413 X-1A 0.00000000 X-1B 0.00000000 X-B 0.00000000 A-R 0.00000000 B-1 0.00000000 B-2 0.00000000 B-3 0.00000000 B-4 0.00000000 B-5 0.00000000 B-6 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 Total Interest Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) Distribution A 695,210,000.00 1.83813% 692,541,423.11 1,060,817.64 0.00 0.00 0.00 0.00 1,060,817.64 X-1A 0.00 1.36325% 191,162,181.33 217,167.64 0.00 0.00 0.00 0.00 217,168.74 X-1B 0.00 1.50846% 501,379,241.78 630,258.11 0.00 0.00 0.00 0.00 630,261.32 X-B 0.00 0.94838% 9,726,000.00 7,686.58 0.00 0.00 0.00 0.00 7,690.89 A-R 100.00 3.30946% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,726,000.00 2.35813% 9,726,000.00 19,112.64 0.00 0.00 0.00 0.00 19,112.64 B-2 5,764,000.00 3.30651% 5,764,000.00 15,882.25 0.00 0.00 0.00 0.00 15,882.25 B-3 3,962,000.00 3.30651% 3,962,000.00 10,916.98 0.00 0.00 0.00 0.00 10,916.98 B-4 1,801,000.00 3.30651% 1,801,000.00 4,962.51 0.00 0.00 0.00 0.00 4,962.51 B-5 1,080,000.00 3.30651% 1,080,000.00 2,975.86 0.00 0.00 0.00 0.00 2,975.86 B-6 2,882,787.00 3.30651% 2,882,787.00 7,943.29 0.00 0.00 0.00 0.00 7,943.29 Totals 720,425,887.00 1,977,723.50 0.00 0.00 0.00 0.00 1,977,732.12
Remaining Ending Unpaid Certificate/ Interest Notational Class Shortfall Balance A 0.00 689,373,021.52 X-1A 0.00 191,671,304.82 X-1B 0.00 497,701,716.70 X-B 0.00 9,726,000.00 A-R 0.00 0.00 B-1 0.00 9,726,000.00 B-2 0.00 5,764,000.00 B-3 0.00 3,962,000.00 B-4 0.00 1,801,000.00 B-5 0.00 1,080,000.00 B-6 0.00 2,882,787.00 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 Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized Total Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) Distribution A 695,210,000.00 1.83813% 996.16148086 1.52589525 0.00000000 0.00000000 0.00000000 0.00000000 1.52589525 X-1A 0.00 1.36325% 996.87524587 1.13248888 0.00000000 0.00000000 0.00000000 0.00000000 1.13249462 X-1B 0.00 1.50846% 995.88980868 1.25188196 0.00000000 0.00000000 0.00000000 0.00000000 1.25188834 X-B 0.00 0.94838% 1000.00000000 0.79031256 0.00000000 0.00000000 0.00000000 0.00000000 0.79075571 A-R 100.00 3.30946% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,726,000.00 2.35813% 1000.00000000 1.96510796 0.00000000 0.00000000 0.00000000 0.00000000 1.96510796 B-2 5,726,000.00 3.30651% 1000.00000000 2.75542158 0.00000000 0.00000000 0.00000000 0.00000000 2.75542158 B-3 3,962,000.00 3.30651% 1000.00000000 2.75542150 0.00000000 0.00000000 0.00000000 0.00000000 2.75542150 B-4 1,801,000.00 3.30651% 1000.00000000 2.75541921 0.00000000 0.00000000 0.00000000 0.00000000 2.75541921 B-5 1,080,000.00 3.30651% 1000.00000000 2.75542593 0.00000000 0.00000000 0.00000000 0.00000000 2.75542593 B-6 2,882,787.00 3.30651% 1000.00000000 2.75542036 0.00000000 0.00000000 0.00000000 0.00000000 2.75542036
Remaining Unpaid Interest Ending Certificate/ Class (5) Shortfall Notational Balance A 0.00000000 991.60400673 X-1A 0.00000000 999.53023025 X-1B 0.00000000 998.58513900 X-B 0.00000000 1000.00000000 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 0.00 Deposits Payments of Interest and Principal 5,343,489.63 Liquidations, Insurance Proceeds, Reserve Funds 8.62 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 23,535,50 Realized Losses 0.00 Prepayment Penalties 0.00 --------------- Total Deposits 5,367,033.75 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 220,900.04 Payment of Interest and Principal 5,146,133.71 --------------- Total Withdrawals (Pool Distribution Amount) 5,367,033.75 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 216,713.15 Master Servicing Fee 4,186.89 Supported Prepayment/Curtailment Interest Shortfall 0.00 --------------- Net Servicing Fee 220,900.04 ===============
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - -------------------------------------------------------------------------------- Class X-1 Basis Risk Reserve Fund 5,000.00 4.31 4.31 5,000.00 Class X-B Basis Risk Reserve Fund 5,000.00 4.31 4.31 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 24 7,705,810.07 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 597,500.00 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 ----------------------- ----------------------- ----------------------- 26 8,303,310.07 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 1.188119% 1.078363% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.099010% 0.083615% 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% ----------------------- ----------------------- ----------------------- 1.287129% 1.161978% 0.000000% 0.000000% 0.000000% 0.000000% Current Period Class A Principal Balance of Insufficient Funds: 0.00 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 24 7,705,810.07 60 Days 0 0.00 60 Days 2 597,500.00 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 26 8,303,310.07 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 1.188119% 1.078363% 60 Days 0.000000% 0.000000% 60 Days 0.099010% 0.083615% 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% 1.287129% 1.161978% Periodic Advance 23,535.50
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 3.52871283% 96.471287% 0.000000% Class B-1 15,489,787.00 2.15008751% 15,489,787.00 2.16765038% 1.361062% 38.571075% Class B-2 9,725,787.00 1.35000521% 9,725,787.00 1.36103265% 0.806618% 22.858696% Class B-3 5,763,787.00 0.80005273% 5,763,787.00 0.80658792% 0.554445% 15.712379% Class B-4 3,962,787.00 0.55006172% 3,962,787.00 0.55455486% 0.252033% 7.142351% Class B-5 2,882,787.00 0.40015039% 2,882,787.00 0.40341900% 0.151136% 4.283031% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.403419% 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 0.01675845% Fraud 21,612,777.00 3.00000005% 21,612,777.00 3.02450539% Special Hazard 11,600,000.00 1.61015869% 11,600,000.00 1.62331118% Limit of subordinate's exposure to certain types of losses
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.675823% Weighted Average Net Coupon 3.211983% Weighted Average Pass-Through Rate 3.306506% Weighted Average Maturity (Stepdown Calculation) 325 Beginning Scheduled Collateral Loan Count 1,583 Number of Loans Paid in Full (437) Ending Scheduled Collateral Loan Count 2,020 Beginning Scheduled Collateral Balance 560,658,488.53 Ending Scheduled Collateral Balance 714,588,808.52 Ending Actual Collateral Balance at 29-Nov-2002 714,584,387.70 Monthly P&I Constant 2,199,964.19 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 4,229,219.23 Ending Scheduled Balance for Premium Loans 714,588,808.52 Scheduled Principal 1,340.63 Unscheduled Principal 3,167,060.96
MISCELLANEOUS REPORTING One Month LIBOR Loans 198,682,230.18 Six Month LIBOR Loans 515,906,578.34 Pro Rata Senior Percentage 96.486864% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Remaining Capitalized Interest Balance 0.00 Remaining Prefunding Balance 0.00