Certificateholder Distribution Statement for SMT Series 2002-11 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 2002-11, prepared by Wells Fargo Bank Minnesota, N.A. It details the principal and interest distributions made to holders of various classes of certificates as of October 31, 2002, with a distribution date of November 20, 2002. The statement summarizes the amounts distributed, remaining balances, and any realized losses, as calculated under the Pooling and Servicing Agreement. No realized losses or interest shortfalls are reported for this period.

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EX-10.1 3 f86678dexv10w1.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: OCTOBER 31, 2002 DISTRIBUTION DATE: NOVEMBER 20, 2002 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass- Certificate Interest Class CUSIP Description Through Rate Balance Distribution - ------------------------------------------------------------------------------- A 81744AAA6 SEN 2.25000% 695,210,000.00 869,012.50 X-1A 81744AAC2 IO 3.66732% 0.00 586,042.68 X-1B 81744AAD0 IO 1.13478% 0.00 476,086.03 X-B 81744AAE8 IO 1.48667% 0.00 12,049.64 A-R 81744AAF5 SEN 3.33334% 100.00 0.28 B-1 81744AAB4 SUB 2.77000% 9,726,000.00 14,967.23 B-2 81744AAG3 SUB 3.33334% 5,764,000.00 16,011.13 B-3 81744AAH1 SUB 3.33334% 3,962,000.00 11,005.57 B-4 SMT0211B4 SUB 3.33334% 1,801,000.00 5,002.78 B-5 SMT0211B5 SUB 3.33334% 1,080,000.00 3,000.00 B-6 SMT0211B6 SUB 3.33334% 2,882,787.00 8,007.75 - ------------------------------------------------------------------------------- Totals 720,425,887.00 2,001,185.59 - -------------------------------------------------------------------------------
Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Loss - ----------------------------------------------------------------------------- A 2,668,576.89 0.00 692,541,423.11 3,537,589.39 0.00 X-1A 0.00 0.00 0.00 586,042.68 0.00 X-1B 0.00 0.00 0.00 476,086.03 0.00 X-B 0.00 0.00 0.00 12,049.64 0.00 A-R 100.00 0.00 0.00 100.28 0.00 B-1 0.00 0.00 9,726,000.00 14,967.23 0.00 B-2 0.00 0.00 5,764,000.00 16,011.13 0.00 B-3 0.00 0.00 3,962,000.00 11,005.57 0.00 B-4 0.00 0.00 1,801,000.00 5,002.78 0.00 B-5 0.00 0.00 1,080,000.00 3,000.00 0.00 B-6 0.00 0.00 2,882,787.00 8,007.75 0.00 - ----------------------------------------------------------------------------- Totals 2,668,676.89 0.00 717,757,210.11 4,669,862.48 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 695,210,000.00 695,210,000.00 0.97 2,668,575.92 0.00 X-1A 0.00 0.00 0.00 0.00 0.00 X-1B 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 A-R 100.00 100.00 0.00 100.00 0.00 B-1 9,726,000.00 9,726,000.00 0.00 0.00 0.00 B-2 5,726,000.00 5,764,000.00 0.00 0.00 0.00 B-3 3,962,000.00 3,962,000.00 0.00 0.00 0.00 B-4 1,801,000.00 1,801,000.00 0.00 0.00 0.00 B-5 1,080,000.00 1,080,000.00 0.00 0.00 0.00 B-6 2,882,787.00 2,882,787.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------- Totals 720,425,887.00 720,425,887.00 0.97 2,668,675.92 0.00 - ----------------------------------------------------------------------------------
Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (1) Reduction Balance Percentage Distribution - -------------------------------------------------------------------------------- A 0.00 2,668,576.89 692,541,423.11 0.99616148 2,668,576.89 X-1A 0.00 0.00 0.00 0.00000000 0.00 X-1B 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00000000 0.00 A-R 0.00 100.00 0.00 0.00000000 100.00 B-1 0.00 0.00 9,726,000.00 1.00000000 0.00 B-2 0.00 0.00 5,764,000.00 1.00000000 0.00 B-3 0.00 0.00 3,962,000.00 1.00000000 0.00 B-4 0.00 0.00 1,801,000.00 1.00000000 0.00 B-5 0.00 0.00 1,080,000.00 1.00000000 0.00 B-6 0.00 0.00 2,882,787.00 1.00000000 0.00 - -------------------------------------------------------------------------------- Totals 0.00 2,668,676.89 717,757,210.11 0.99629570 2,668,676.89 - --------------------------------------------------------------------------------
(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 695,210,000.00 1000.00000000 0.00000140 3.83851774 0.00000000 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 1000.00000000 0.00000000 1000.00000000 0.00000000 B-1 9,726,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 5,764,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 3,962,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,801,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,080,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 2,882,787.00 1000.00000000 0.00000000 0.00000000 0.00000000
Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution - -------------------------------------------------------------------------------- A 0.00000000 3.83851914 996.16148086 0.99616148 3.83851914 X-1A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000 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
Beginning Payment of Current Certificate/ Current Unpaid Original Face Certificate Notional Accrued Interest Class Amount Rate Balance Interest Shortfall - ---------------------------------------------------------------------------------- A 695,210,000.00 2.25000% 695,210,000.00 869,012.50 0.00 X-1A 0.00 3.66732% 191,761,416.11 586,042.58 0.00 X-1B 0.00 1.13478% 503,448,583.89 476,085.95 0.00 X-B 0.00 1.48667% 9,726,000.00 12,049.64 0.00 A-R 100.00 3.33334% 100.00 0.28 0.00 B-1 9,726,000.00 2.77000% 9,726,000.00 14,967.23 0.00 B-2 5,764,000.00 3.33334% 5,764,000.00 16,011.13 0.00 B-3 3,962,000.00 3.33334% 3,962,000.00 11,005.57 0.00 B-4 1,801,000.00 3.33334% 1,801,000.00 5,002.78 0.00 B-5 1,080,000.00 3.33334% 1,080,000.00 3,000.00 0.00 B-6 2,882,787.00 3.33334% 2,882,787.00 8,007.75 0.00 - ---------------------------------------------------------------------------------- Totals 720,425,887.00 2,001,185.23 0.00 - ----------------------------------------------------------------------------------
Non- Remaining Ending Current Supported Unpaid Certificate/ Interest Interest Realized Total Interest Interest Notational Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance - --------------------------------------------------------------------------------------- A 0.00 0.00 0.00 869,012.50 0.00 692,541,423.11 X-1A 0.00 0.00 0.00 586,042.68 0.00 191,162,181.33 X-1B 0.00 0.00 0.00 476,086.03 0.00 501,379,241.78 X-B 0.00 0.00 0.00 12,049.64 0.00 9,726,000.00 A-R 0.00 0.00 0.00 0.28 0.00 0.00 B-1 0.00 0.00 0.00 14,967.23 0.00 9,726,000.00 B-2 0.00 0.00 0.00 16,011.13 0.00 5,764,000.00 B-3 0.00 0.00 0.00 11,005.57 0.00 3,962,000.00 B-4 0.00 0.00 0.00 5,002.78 0.00 1,801,000.00 B-5 0.00 0.00 0.00 3,000.00 0.00 1,080,000.00 B-6 0.00 0.00 0.00 8,007.75 0.00 2,882,787.00 - --------------------------------------------------------------------------------------- Totals 0.00 0.00 0.00 2,001,185.59 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
Beginning Payment of Current Certificate/ Current Unpaid Class Original Face Certificate Notional Accrued Interest (5) Amount Rate Balance Interest Shortfall - ------------------------------------------------------------------------------ A 695,210,000.00 2.25000% 1000.00000000 1.25000000 0.00000000 X-1A 0.00 3.66732% 1000.00014388 3.05610313 0.00000000 X-1B 0.00 1.13478% 1000.00014383 0.94564973 0.00000000 X-B 0.00 1.48667% 1000.00000000 1.23889163 0.00000000 A-R 100.00 3.33334% 1000.00000000 2.80000000 0.00000000 B-1 9,726,000.00 2.77000% 1000.00000000 1.53888855 0.00000000 B-2 5,726,000.00 3.33334% 1000.00000000 2.77778105 0.00000000 B-3 3,962,000.00 3.33334% 1000.00000000 2.77778142 0.00000000 B-4 1,801,000.00 3.33334% 1000.00000000 2.77777901 0.00000000 B-5 1,080,000.00 3.33334% 1000.00000000 2.77777778 0.00000000 B-6 2,882,787.00 3.33334% 1000.00000000 2.77778067 0.00000000
Non- Remaining Ending Current Supported Total Unpaid Certificate/ Class Interest Interest Realized Interest Interest Notational (5) Shortfall Shortfall Loss (6) Distribution Shortfall Balance - ---------------------------------------------------------------------------------------- A 0.00000000 0.00000000 0.00000000 1.25000000 0.00000000 996.16148086 X-1A 0.00000000 0.00000000 0.00000000 3.05610365 0.00000000 996.87524587 X-1B 0.00000000 0.00000000 0.00000000 0.94564989 0.00000000 995.88980868 X-B 0.00000000 0.00000000 0.00000000 1.23891014 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 2.80000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 0.00000000 1.53888855 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 0.00000000 2.77778105 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 0.00000000 2.77778142 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 0.00000000 2.77777901 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 0.00000000 2.77777778 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 0.00000000 2.77778067 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 4,808,337.08 Liquidations, Insurance Proceeds, Reserve Funds 0.35 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 33,235.91 Realized Losses 0.00 Prepayment Penalties 0.00 -------------- Total Deposits 4,841,573.34 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 171,710.86 Payment of Interest and Principal 4,669,573.34 Total Withdrawals (Pool Distribution Amount) 4,841,573.34 -------------- 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 168,424.80 Master Servicing Fee 3,286.06 Supported Prepayment/Curtailment Interest Shortfall 0.00 -------------- Net Servicing Fee 171,710.86 ==============
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------------------------------------------------------------------------------- Class X-1 Basis Risk Reserve Fund 5,000.00 0.18 0.18 5,000.00 Class X-B Basis Risk Reserve Fund 5,000.00 0.18 0.18 5,000.00
Original $ Original % Current $ Current % Bankruptcy 119,754.00 0.01662267% 119,754.00 0.02135953% Fraud 21,612,777.00 3.00000005% 21,612,777.00 3.85489160% Special Hazard 11,600,000.00 1.61015869% 11,600,000.00 2.06899570%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.697592% Weighted Average Net Coupon 3.417050% Weighted Average Pass-Through Rate 3.331813% Weighted Average Maturity (Stepdown Calculation) 326 Beginning Scheduled Collateral Loan Count 1,589 Number of Loans Paid in Full 6 Ending Scheduled Collateral Loan Count 1,583 Beginning Scheduled Collateral Balance 720,425,887.00 Ending Scheduled Collateral Balance 560,658,488.53 Ending Actual Collateral Balance at 31-Oct-2002 560,657,462.33 Monthly P&I Constant 1,735,796.01 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 3,537,689.67 Ending Scheduled Balance for Premium Loans 717,752,210.11 Scheduled Principal 0.97 Unscheduled Principal 2,668,675.92
MISCELLANEOUS REPORTING One Month LIBOR Loans 198,122,494.01 Six Month LIBOR Loans 519,634,716.10 Pro Rata Senior Percentage 96.499878% 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 157,098,721.58