Wells Fargo Bank Minnesota, N.A. SMT Series 2002-12 Certificateholder Distribution Statement (October 2003)

Contract Categories: Business Finance › Trust Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2002-12 trust. It summarizes the principal and interest payments made to certificateholders as of October 31, 2003, with distributions occurring on November 20, 2003. The statement details the amounts distributed to each class of certificates, the remaining balances, and confirms that all calculations were made in accordance with the Pooling and Servicing Agreement. No realized losses or interest shortfalls are reported for this period.

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EX-10.1 3 f95106eexv10w1.htm EXHIBIT 10.1 exv10w1  

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)  ###-###-####
    Fax:   (301)  ###-###-####

SMT SERIES 2002-12
Record Date: October 31, 2003
Distribution Date: November 20, 2003

Certificateholder Distribution Summary

                                         
            Certificate   Certificate                
            Class   Pass-Through   Beginning   Interest
Class   CUSIP   Description   Rate   Certificate Balance   Distribution
 
 
 
 
 
A
   81744BAA4   SEN     1.57000 %     972,312,246.26       1,272,108.52  
X-1
   81744BAB2   IO     0.79188 %     0.00       154,571.43  
X-2
   81744BAC0   IO     1.08935 %     0.00       685,285.69  
A-R
   81744BAD8   SEN     3.16477 %     0.00       0.00  
B-1
   81744BAE6   SUB     1.97000 %     16,815,000.00       27,604.63  
B-2
   81744BAF3   SUB     2.59571 %     8,968,000.00       19,398.58  
B-3
   81744BAG1   SUB     2.59571 %     6,165,000.00       13,335.44  
B-4
   SMT0212B4   SUB     2.59571 %     2,802,000.00       6,060.98  
B-5
   SMT0212B5   SUB     2.59571 %     1,681,000.00       3,636.15  
B-6
   SMT0212B6   SUB     2.59571 %     4,486,095.46       9,703.82  
 
                            
     
 
Totals
                             1,013,229,341.72       2,191,705.24  
 
                            
     
 

[Additional columns below]

[Continued from above table, first column(s) repeated]

                                         
    Principal   Current   Ending Certificate   Total   Cumulative
Class   Distribution   Realized Loss   Balance   Distribution   Realized Loss
 
 
 
 
 
A
     12,999,501.44       0.00       959,312,744.82       14,271,609.96       0.00  
X-1
     0.00       0.00       0.00       154,571.43       0.00  
X-2
     0.00       0.00       0.00       685,285.69       0.00  
A-R
     0.00       0.00       0.00       0.00       0.00  
B-1
     0.00       0.00       16,815,000.00       27,604.63       0.00  
B-2
     0.00       0.00       8,968,000.00       19,398.58       0.00  
B-3
     0.00       0.00       6,165,000.00       13,335.44       0.00  
B-4
     0.00       0.00       2,802,000.00       6,060.98       0.00  
B-5
     0.00       0.00       1,681,000.00       3,636.15       0.00  
B-6
     0.00       0.00       4,486,095.46       9,703.82       0.00  
 
    
     
     
     
     
 
Totals
     12,999,501.44       0.00       1,000,229,840.28       15,191,206.68       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           Realized
Class   Amount   Balance   Distribution   Distribution   Accretion   Loss (1)
 
 
 
 
 
 
A
     1,080,076,000.00       972,312,246.26       0.00       12,999,501.44       0.00       0.00  
X-1
     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  
A-R
     100.00       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  
B-2
     8,968,000.00       8,968,000.00       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  
B-4
     2,802,000.00       2,802,000.00       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  
B-6
     4,486,095.46       4,486,095.46       0.00       0.00       0.00       0.00  
 
    
     
     
     
     
     
 
Totals
     1,120,993,195.46       1,013,229,341.72       0.00       12,999,501.44       0.00       0.00  
 
    
     
     
     
     
     
 

[Additional columns below]

[Continued from above table, first column(s) repeated]

                                 
    Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class   Reduction   Balance   Percentage   Distribution
 
 
 
 
A
     12,999,501.44       959,312,744.82       0.88819004       12,999,501.44  
X-1
     0.00       0.00       0.00000000       0.00  
X-2
     0.00       0.00       0.00000000       0.00  
A-R
     0.00       0.00       0.00000000       0.00  
B-1
     0.00       16,815,000.00       1.00000000       0.00  
B-2
     0.00       8,968,000.00       1.00000000       0.00  
B-3
     0.00       6,165,000.00       1.00000000       0.00  
B-4
     0.00       2,802,000.00       1.00000000       0.00  
B-5
     0.00       1,681,000.00       1.00000000       0.00  
B-6
     0.00       4,486,095.46       1.00000000       0.00  
 
    
     
     
     
 
Totals
     12,999,501.44       1,000,229,840.28       0.89227111       12,999,501.44  
 
    
     
     
     
 

(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
Class   Amount   Balance   Distribution   Distribution   Accretion   Loss (3)
 
 
 
 
 
 
A
     1,080,076,000.00       900.22576769       0.00000000       12.03572845       0.00000000       0.00000000  
X-1
     0.00       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
X-2
     0.00       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
A-R
     100.00       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  
B-2
     8,968,000.00       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
B-3
     6,165,000.00       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
B-4
     2,802,000.00       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
B-5
     1,681,000.00       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
B-6
     4,486,095.46       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000  

[Additional columns below]

[Continued from above table, first column(s) repeated]

                                 
            Ending                
    Total Principal   Certificate   Ending Certificate   Total Principal
Class   Reduction   Balance   Percentage   Distribution
 
 
 
 
A
     12.03572845       888.19003924       0.88819004       12.03572845  
X-1
     0.00000000       0.00000000       0.00000000       0.00000000  
X-2
     0.00000000       0.00000000       0.00000000       0.00000000  
A-R
     0.00000000       0.00000000       0.00000000       0.00000000  
B-1
     0.00000000       1000.00000000       1.00000000       0.00000000  
B-2
     0.00000000       1000.00000000       1.00000000       0.00000000  
B-3
     0.00000000       1000.00000000       1.00000000       0.00000000  
B-4
     0.00000000       1000.00000000       1.00000000       0.00000000  
B-5
     0.00000000       1000.00000000       1.00000000       0.00000000  
B-6
     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           Non-        
                    Beginning   Current   Unpaid   Current   Supported        
    Original Face   Current   Certificate/   Accrued   Interest   Interest   Interest   Realized
Class   Amount   Certificate Rate   Notional Balance   Interest   Shortfall   Shortfall   Shortfall   Loss (4)
 
 
 
 
 
 
 
 
A
     1,080,076,000.00       1.57000 %     972,312,246.26       1,272,108.52       0.00       0.00       0.00       0.00  
X-1
     0.00       0.79188 %     234,235,606.43       154,571.43       0.00       0.00       0.00       0.00  
X-2
     0.00       1.08935 %     754,891,639.83       685,285.69       0.00       0.00       0.00       0.00  
A-R
     100.00       3.16477 %     0.00       0.00       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       0.00       0.00  
B-2
     8,968,000.00       2.59571 %     8,968,000.00       19,398.58       0.00       0.00       0.00       0.00  
B-3
     6,165,000.00       2.59571 %     6,165,000.00       13,335.44       0.00       0.00       0.00       0.00  
B-4
     2,802,000.00       2.59571 %     2,802,000.00       6,060.98       0.00       0.00       0.00       0.00  
B-5
     1,681,000.00       2.59571 %     1,681,000.00       3,636.15       0.00       0.00       0.00       0.00  
B-6
     4,486,095.46       2.59571 %     4,486,095.46       9,703.82       0.00       0.00       0.00       0.00  
 
    
                     
     
     
     
     
 
Totals
     1,120,993,195.46                       2,191,705.24       0.00       0.00       0.00       0.00  
 
    
                     
     
     
     
     
 

[Additional columns below]

[Continued from above table, first column(s) repeated]

                         
            Remaining   Ending
            Unpaid   Certificate/
    Total Interest   Interest   Notational
Class   Distribution   Shortfall   Balance
 
 
 
A
     1,272,108.52       0.00       959,312,744.82  
X-1
     154,571.43       0.00       231,973,810.28  
X-2
     685,285.69       0.00       744,153,934.54  
A-R
     0.00       0.00       0.00  
B-1
     27,604.63       0.00       16,815,000.00  
B-2
     19,398.58       0.00       8,968,000.00  
B-3
     13,335.44       0.00       6,165,000.00  
B-4
     6,060.98       0.00       2,802,000.00  
B-5
     3,636.15       0.00       1,681,000.00  
B-6
     9,703.82       0.00       4,486,095.46  
 
    
     
         
Totals
     2,191,705.24       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           Unpaid   Current   Supported        
Class   Original Face   Certificate   Certificate   Current Accrued   Interest   Interest   Interest   Realized
(5)   Amount   Rate   Notional Balance   Interest   Shortfall   Shortfall   Shortfall   Loss (6)
 
 
 
 
 
 
 
 
A
     1,080,076,000.00       1.57000 %     900.22576769       1.17779538       0.00000000       0.00000000       0.00000000       0.00000000  
X-1
     0.00       0.79188 %     938.01424207       0.61899301       0.00000000       0.00000000       0.00000000       0.00000000  
X-2
     0.00       1.08935 %     891.06756061       0.80890530       0.00000000       0.00000000       0.00000000       0.00000000  
A-R
     100.00       3.16477 %     0.00000000       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
B-1
     16,815,000.00       1.97000 %     1000.00000000       1.64166696       0.00000000       0.00000000       0.00000000       0.00000000  
B-2
     8,968,000.00       2.59571 %     1000.00000000       2.16308876       0.00000000       0.00000000       0.00000000       0.00000000  
B-3
     6,165,000.00       2.59571 %     1000.00000000       2.16308840       0.00000000       0.00000000       0.00000000       0.00000000  
B-4
     2,802,000.00       2.59571 %     1000.00000000       2.16309065       0.00000000       0.00000000       0.00000000       0.00000000  
B-5
     1,681,000.00       2.59571 %     1000.00000000       2.16308745       0.00000000       0.00000000       0.00000000       0.00000000  
B-6
     4,486,095.46       2.59571 %     1000.00000000       2.16308817       0.00000000       0.00000000       0.00000000       0.00000000  

[Additional columns below]

[Continued from above table, first column(s) repeated]

                         
            Remaining        
            Unpaid        
Class   Total Interest   Interest   Ending Certificate/
(5)   Distribution   Shortfall   Notational Balance
 
 
 
A
     1.17779538       0.00000000       888.19003924  
X-1
     0.61899301       0.00000000       928.95670793  
X-2
     0.80890530       0.00000000       878.39286618  
A-R
     0.00000000       0.00000000       0.00000000  
B-1
     1.64166696       0.00000000       1000.00000000  
B-2
     2.16308876       0.00000000       1000.00000000  
B-3
     2.16308840       0.00000000       1000.00000000  
B-4
     2.16309065       0.00000000       1000.00000000  
B-5
     2.16308745       0.00000000       1000.00000000  
B-6
     2.16308817       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
     15,509,726.72  
 
Liquidations, Insurance Proceeds, Reserve Funds
     0.00  
 
Proceeds from Repurchased Loans
     0.00  
 
Other Amounts (Servicer Advances)
     443.01  
 
Realized Losses
     0.00  
 
Prepayment Penalties
     0.00  
 
 
    
 
Total Deposits
     15,510,169.73  
Withdrawals
        
 
Reimbursement for Servicer Advances
     0.00  
 
Payment of Service Fee
     318,963.04  
 
Payment of Interest and Principal
     15,191,206.69  
 
 
    
 
Total Withdrawals (Pool Distribution Amount)
     15,510,169.73  
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
     318,963.04  
Supported Prepayment/Curtailment Interest Shortfall
     0.00  
 
    
 
Net Servicing Fee
     318,963.04  
 
    
 

 

 

                                 
Account Type   Beginning Balance   Current Withdrawals   Current Deposits   Ending 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     443.01  
                                     
        Original $   Original %   Current $   Current %
 
Bankruptcy
     218,860.00       0.01952376 %     218,860.00       0.02188097 %
   
Fraud
     33,629,796.00       3.00000001 %     33,629,796.00       3.36220683 %
Special Hazard
     11,209,932.00       1.00000000 %     10,303,554.54       1.03011869 %

Limit of subordinate’s exposure to certain types of losses

 

 

Collateral Statement

         
Collateral Description   Mixed ARM
Weighted Average Gross Coupon
     2.973465 %
Weighted Average Net Coupon
     2.595707 %
Weighted Average Pass-Through Rate
     2.595707 %
Weighted Average Maturity (Stepdown Calculation)
     315  
Beginning Scheduled Collateral Loan Count
     2,920  
Number of Loans Paid in Full
     34  
Ending Scheduled Collateral Loan Count
     2,886  
Beginning Scheduled Collateral Balance
     1,013,229,341.72  
Ending Scheduled Collateral Balance
     1,000,229,840.28  
Ending Actual Collateral Balance at 31-Oct-2003
     1,000,235,142.23  
Monthly P&I Constant
     2,510,668.28  
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
     1,000,229,840.28  
Scheduled Principal
     0.00  
Unscheduled Principal
     12,999,501.44  

Miscellaneous Reporting

         
Principal Balance of 1-Month Libor Loans
     237,701,600.47  
Principal Balance of 6-Month Libor Loans
     762,528,239.81  
Pro Rata Senior Percentage
     95.961714 %
Senior Percentage
     100.000000 %
Senior Prepayment Percentage
     100.000000 %
Subordinate Percentage
     0.000000 %
Subordinate Prepayment Percentage
     0.000000 %
Payment Received from Cap Provide
     0