-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VD0bLseifb72/11TEuGj5V5fXqRpxeQcpOrsQPA2lRsbXoLEwYBJ9OFxUkyDJkBl +u2QKGU1+BV8gkUh4pn+Mg== 0000950149-03-002144.txt : 20030912 0000950149-03-002144.hdr.sgml : 20030912 20030912144511 ACCESSION NUMBER: 0000950149-03-002144 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030820 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030912 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEQUOIA RESIDENTIAL FUNDING INC CENTRAL INDEX KEY: 0001176320 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 352170972 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-90772-01 FILM NUMBER: 03893666 BUSINESS ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: SUITE 3160 CITY: MILL VALLEY STATE: CA ZIP: 94941 BUSINESS PHONE: 4153897373 MAIL ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: SUITE 3160 CITY: MILL VALLEY STATE: CA ZIP: 94941 8-K 1 f93089fe8vk.htm FORM 8-K e8vk
Table of Contents

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

August 20, 2003
Date of Report (Date of Earliest Event Reported)

SEQUOIA RESIDENTIAL FUNDING, INC.

(as Depositor of Sequoia Mortgage Trust 12, the Issuer of Mortgage Pass-Through Certificates under a Pooling and Servicing Agreement dated as of December 1, 2002)

SEQUOIA RESIDENTIAL FUNDING, INC.

(Exact Name of Registrant as Specified in Its Charter)
         
Delaware   333-100520   35-2170972
 
 
(State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)
 
591 Redwood Highway, Suite 3160, Mill Valley, CA 94941
(Address of Principal Executive Offices)
 
(415) 381-1765
(Registrant’s Telephone Number,
Including Area Code)
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

 

Item 5. Other Events
Item 7(c). Exhibits
SIGNATURE
EXHIBIT INDEX
Exhibit 10.1

Table of Contents

INFORMATION TO BE INCLUDED IN THE REPORT

Item 5.   Other Events
 
    Sequoia Residential Funding, Inc. has previously registered the offer and sale of Mortgage Pass-Through Certificates issued by Sequoia Mortgage Trust 12 (the “Certificates”).
 
    The following exhibit which relates specifically to the Certificates is included with this Current Report:

Item 7(c).   Exhibits

  10.1   Monthly Payment Date Statement relating to the distribution to Certificateholders, August 20, 2003.

 

Table of Contents

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: September 11, 2003

           
    SEQUOIA RESIDENTIAL FUNDING, INC.
         
    By:   /s/ Harold F. Zagunis
       
        Harold F. Zagunis
        Chief Financial Officer, Treasurer and Secretary

 

Table of Contents

EXHIBIT INDEX

             
Exhibit Number       Page Number
     
10.1   Monthly Payment Date Statement relating to the distribution to Certificateholders, August 20, 2003     5  

  EX-10.1 3 f93089fexv10w1.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: JULY 31, 2003 DISTRIBUTION DATE: AUGUST 20, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
- ------------------------------------------------------------------------------------------------------------------------------ Certificate Certificate Class Pass-Through Beginning Interest Principal Class CUSIP Description Rate Certificate Balance Distribution Distribution - ------------------------------------------------------------------------------------------------------------------------------ A 81744BAA4 SEN 1.55000% 1,024,267,562.43 1,323,012.26 17,103,687.16 X-1 81744BAB2 IO 1.06627% 0.00 215,158.13 0.00 X-2 81744BAC0 IO 1.16490% 0.00 775,751.67 0.00 A-R 81744BAD8 SEN 3.16651% 0.00 0.00 0.00 B-1 81744BAE6 SUB 1.95000% 16,815,000.00 27,324.37 0.00 B-2 81744BAF3 SUB 2.69842% 8,968,000.00 20,166.20 0.00 B-3 81744BAG1 SUB 2.69842% 6,165,000.00 13,863.14 0.00 B-4 SMT0212B4 SUB 2.69842% 2,802,000.00 6,300.81 0.00 B-5 SMT0212B5 SUB 2.69842% 1,681,000.00 3,780.04 0.00 B-6 SMT0212B6 SUB 2.69842% 4,486,095.46 10,087.81 0.00 - ------------------------------------------------------------------------------------------------------------------------------ Totals 1,065,184,657.89 2,395,264.43 17,103,687.16 - ------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------- Current Ending Certificate Total Cumulative Class Realized Loss Balance Distribution Realized Loss - -------------------------------------------------------------------------------------------- A 0.00 1,007,163,875.27 18,426,699.42 0.00 X-1 0.00 0.00 215,158.13 0.00 X-2 0.00 0.00 775,571.67 0.00 A-R 0.00 0.00 0.00 0.00 B-1 0.00 16,815,000.00 27,324.37 0.00 B-2 0.00 8,968,000.00 20,166.20 0.00 B-3 0.00 6,165,000.00 13,863.14 0.00 B-4 0.00 2,802,000.00 6,300.81 0.00 B-5 0.00 1,681,000.00 3,780.04 0.00 B-6 0.00 4,486,095.46 10,087.81 0.00 - -------------------------------------------------------------------------------------------- Totals 0.00 1,048,080,970.73 19,498,951.59 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 1,024,267,562.43 0.00 17,103,687.16 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 1,065,184,657.89 0.00 17,103,687.16 0.00 0.00 - ----------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ---------------------------------------------------------------------------------------------------- A 17,103,687.16 1,007,163,875.27 0.93249352 17,103,687.16 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 17,103,687.16 1,048,080,970.73 0.93495748 17,103,687.16 - ----------------------------------------------------------------------------------------------------
(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 1,080,076,000.00 948.32915686 0.00000000 15.83563301 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 - --------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------- Ending Total Principal Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ---------------------------------------------------------------------------------------------- A 15.83563301 932.49352385 0.93249352 15.83563301 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 Beginning Current Unpaid Current Original Face Current Certificate/ Accrued Interest Interest Class Amount Certificate Rate Notional Balance Interest Shortfall Shortfall - --------------------------------------------------------------------------------------------------------------------------- A 1,080,076,000.00 1.55000% 1,024,267,562.43 1,323,012.27 0.00 0.00 X-1 0.00 1.06627% 242,142,066.19 215,158.13 0.00 0.00 X-2 0.00 1.16490% 798,940,496.24 775,571.68 0.00 0.00 A-R 100.00 3.16651% 0.00 0.00 0.00 0.00 B-1 16,815,000.00 1.95000% 16,815,000.00 27,324.38 0.00 0.00 B-2 8,968,000.00 2.69842% 8,968,000.00 20,166.20 0.00 0.00 B-3 6,165,000.00 2.69842% 6,165,000.00 13,863.14 0.00 0.00 B-4 2,802,000.00 2.69842% 2,802,000.00 6,300.81 0.00 0.00 B-5 1,681,000.00 2.69842% 1,681,000.00 3,780.04 0.00 0.00 B-6 4,486,095.46 2.69842% 4,486,095.46 10,087.81 0.00 0.00 - --------------------------------------------------------------------------------------------------------------------------- Totals 1,120,993,195.46 2,395,264.46 0.00 0.00 - ---------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------- Non- Remaining Ending Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - ----------------------------------------------------------------------------------------------- A 0.00 0.00 1,323,012.26 0.00 1,007,163,875.27 X-1 0.00 0.00 215,158.13 0.00 239,705,205.53 X-2 0.00 0.00 775,571.67 0.00 784,273,669.74 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 27,324.37 0.00 16,815,000.00 B-2 0.00 0.00 20,166.20 0.00 8,968,000.00 B-3 0.00 0.00 13,863.14 0.00 6,165,000.00 B-4 0.00 0.00 6,300.81 0.00 2,802,000.00 B-5 0.00 0.00 3,780.04 0.00 1,681,000.00 B-6 0.00 0.00 10,087.81 0.00 4,486,095.46 - ----------------------------------------------------------------------------------------------- Totals 0.00 0.00 2,395,264.43 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 Unpaid Current Original Face Certificate Certificate Current Accrued Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall - ----------------------------------------------------------------------------------------------------------------------- A 1,080,076,000.00 1.55000% 948.32915686 1.22492516 0.00000000 0.00000000 X-1 0.00 1.06627% 969.67625952 0.86161704 0.00000000 0.00000000 X-2 0.00 1.16490% 943.06244962 0.91547810 0.00000000 0.00000000 A-R 100.00 3.16651% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 16,815,000.00 1.95000% 1000.00000000 1.62500030 0.00000000 0.00000000 B-2 8,968,000.00 2.69842% 1000.00000000 2.24868421 0.00000000 0.00000000 B-3 6,165,000.00 2.69842% 1000.00000000 2.24868451 0.00000000 0.00000000 B-4 2,802,000.00 2.69842% 1000.00000000 2.24868308 0.00000000 0.00000000 B-5 1,681,000.00 2.69842% 1000.00000000 2.24868531 0.00000000 0.00000000 B-6 4,486,095.46 2.69842% 1000.00000000 2.24868376 0.00000000 0.00000000 - -----------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------- Non- Remaining Supported Unpaid Interest Realized Total Interest Interest Ending Certificate/ Class (5) Shortfall Loss (6) Distribution Shortfall Notational Balance - -------------------------------------------------------------------------------------------------------- A 0.00000000 0.00000000 1.22492515 0.00000000 932.49352385 X-1 0.00000000 0.00000000 0.86161704 0.00000000 959.91766628 X-2 0.00000000 0.00000000 0.91547809 0.00000000 925.74985451 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.62499970 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.24868421 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.24868451 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.24868308 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.24868531 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.24868376 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 19,834,799.27 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 19,834,799.27 Withdrawals Reimbursement for Servicer Advances 648.37 Payment of Service Fee 335,199.29 Payment of Interest and Principal 19,498,951.61 ---------------- Total Withdrawals (Pool Distribution Amount) 19,834,799.27 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 335,199.29 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------------- Net Servicing Fee 335,199.29 ================
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 0 0.00 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 ----------------------------- -------------------------- -------------------------- 0 0.00 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 0.000000% 0.000000% 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% ----------------------------- -------------------------- -------------------------- 0.000000% 0.000000% 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 0 0.00 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 0 0.00 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 0.000000% 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% 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% 0.000000% 0.000000%
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 0.02088197% Fraud 33,629,796.00 3.00000001% 33,629,796.00 3.20870209% Special Hazard 11,209,932.00 1.00000000% 10,480,809.71 1.00000000%
Limit of subordinate's exposure to certain types of losses COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.076046% Weighted Average Net Coupon 2.698422% Weighted Average Pass-Through Rate 2.698422% Weighted Average Maturity (Stepdown Calculation) 318 Beginning Scheduled Collateral Loan Count 3,045 Number of Loans Paid in Full 45 Ending Scheduled Collateral Loan Count 3,000 Beginning Scheduled Collateral Balance 1,065,184,657.89 Ending Scheduled Collateral Balance 1,048,080,970.73 Ending Actual Collateral Balance at 31-July-2003 1,048,083,590.58 Monthly P&I Constant 2,730,463.73 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 1,048,080,970.73 Scheduled Principal 0.00 Unscheduled Principal 17,103,687.16
MISCELLANEOUS REPORTING Principal Balance of 1-Month Libor Loans 245,347,311.91 Principal Balance of 6-Month Libor Loans 802,733,658.82 Pro Rata Senior Percentage 96.158685% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Payment Received from Cap Provide 0
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