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Previous: SEQUOIA MORT TRUST 4 MORT LOAN ASSET BACK PASS-THROUGH CERT, 8-K, 2000-10-04 |
Next: KOSAN BIOSCIENCES INC, S-1/A, 2000-10-04 |
<PAGE> 1
EXHIBIT 10.1
Sequoia Mortgage Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 22-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
15-Sep-2000 9:43:18AM Telephone: (301) 815-6600
Fax: (301) 846-8152
SMT SERIES 2000-4
Certificateholder Distribution Summary
<TABLE>
<CAPTION>
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
------ -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A 81743TAA6 SEQ 6.98000% 346,571,428.95 2,015,890.48
B SMT00004B SUB 7.87000% 3,809,289.81 24,982.59
C SMT00004C IO 0.00000% 0.00 262,045.44
R-UT SMT00004R RES 0.00000% 0.00 0.00
R-LT SMT0004RL RES 0.00000% 0.00 0.00
-------------- -------------- -------------- -------------- --------------
Totals 350,380,718.76 2,302,918.51
-------------- --------------
</TABLE>
<TABLE>
<CAPTION>
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
------ -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A 5,320,451.90 0.00 341,250,977.05 7,336,342.38 0.00
B 0.00 0.00 3,809,289.81 24,982.59 0.00
C 0.00 0.00 0.00 262,045.44 0.00
R-UT 0.00 0.00 0.00 0.00 0.00
R-LT 0.00 0.00 0.00 0.00 0.00
-------------- -------------- -------------- -------------- --------------
Totals 5,320,451.90 0.00 345,060,266.86 7,623,370.41 0.00
-------------- -------------- -------------- -------------- --------------
</TABLE>
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
Page 1
<PAGE> 2
Sequoia Mortgage Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 22-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
15-Sep-2000 9:43:18AM Telephone: (301) 815-6600
Fax: (301) 846-8152
SMT SERIES 2000-4
Principal Distribution Statement
<TABLE>
<CAPTION>
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class Amount Balance Distribution Distribution Accretion
------ -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A 377,119,000.00 346,571,428.95 0.00 5,320,451.90 0.00
B 3,809,982.43 3,809,289.81 0.00 0.00 0.00
C 0.00 0.00 0.00 0.00 0.00
R-UT 0.00 0.00 0.00 0.00 0.00
R-LT 0.00 0.00 0.00 0.00 0.00
-------------- -------------- -------------- -------------- --------------
Totals 380,928,982.43 350,380,718.76 0.00 5,320,451.90 0.00
-------------- -------------- -------------- -------------- --------------
</TABLE>
<TABLE>
<CAPTION>
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss(1) Reduction Balance Percentage Distribution
------ -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A 0.00 5,320,451.90 341,250,977.05 0.90488938 5,320,451.90
B 0.00 0.00 3,809,289.81 0.99981821 0.00
C 0.00 0.00 0.00 0.00000000 0.00
R-UT 0.00 0.00 0.00 0.00000000 0.00
R-LT 0.00 0.00 0.00 0.00000000 0.00
-------------- -------------- -------------- -------------- --------------
Totals 0.00 5,320,451.90 345,060,266.86 0.90583884 5,320,451.90
-------------- -------------- -------------- -------------- --------------
</TABLE>
(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.
Page 2
<PAGE> 3
Sequoia Mortgage Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 22-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
15-Sep-2000 9:43:18AM Telephone: (301) 815-6600
Fax: (301) 846-8152
SMT SERIES 2000-4
Principal Distribution Factors Statement
<TABLE>
<CAPTION>
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class(2) Amount Balance Distribution Distribution Accretion
------ -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A 377,119,000.00 918.99752850 0.00000000 14.10815127 0.00000000
B 3,809,982.43 999.81820914 0.00000000 0.00000000 0.00000000
C 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-UT 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-LT 0.00 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class(2) Loss(3) Reduction Balance Percentage Distribution
------ -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A 0.00000000 14.10815127 904.88937723 0.90488938 14.10815127
B 0.00000000 0.00000000 999.81820914 0.99981821 0.00000000
C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-UT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-LT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
(2) Per $1,000 Denomination.
(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.
Page 3
<PAGE> 4
Sequoia Mortgage Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 22-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
15-Sep-2000 9:43:18AM Telephone: (301) 815-6600
Fax: (301) 846-8152
SMT SERIES 2000-4
Interest Distribution Statement
<TABLE>
<CAPTION>
Beginning
Original Current Certificate/ Current Payment of
Face Certificate Notional Accrued Unpaid
Class Amount Rate Balance Interest Interest
------- -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A 377,119,000.00 6.98000 % 346,571,428.95 2,015,890.48 0.00
B 3,809,982.43 7.87000 % 3,809,289.81 24,982.59 0.00
C 0.00 0.00000 % 0.00 0.00 0.00
R-UT 0.00 0.00000 % 0.00 0.00 0.00
R-LT 0.00 0.00000 % 0.00 0.00 0.00
-------------- -------------- -------------- -------------- --------------
Totals 380,928,982.43 2,040,873.07 0.00
-------------- -------------- --------------
</TABLE>
<TABLE>
<CAPTION>
Remaining Ending
Current Non-Supported Total Unpaid Certificate/
Interest Interest Realized Interest Interest Notional
Class Shortfall Shortfall Loss(4) Distribution Shortfall Balance
------- -------------- -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
A 0.00 0.00 0.00 2,015,890.48 0.00 341,250,977.05
B 0.00 0.00 0.00 24,982.59 0.00 3,809,289.81
C 0.00 0.00 0.00 262,045.44 0.00 0.00
R-UT 0.00 0.00 0.00 0.00 0.00 0.00
R-LT 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- -------------- -------------- -------------- --------------
Totals 0.00 0.00 0.00 2,302,918.51 0.00
-------------- -------------- -------------- -------------- --------------
</TABLE>
(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.
Page 4
<PAGE> 5
Sequoia Mortgage Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 22-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
15-Sep-2000 9:43:18AM Telephone: (301) 815-6600
Fax: (301) 846-8152
SMT SERIES 2000-4
Interest Distribution Factors Statement
<TABLE>
<CAPTION>
Beginning
Original Current Certificate/ Current Payment of
Face Certificate Notional Accrued Unpaid
Class(5) Amount Rate Balance Interest Interest
------- -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A 377,119,000.00 6.98000 % 918.99752850 5.34550230 0.00000000
B 3,809,982.43 7.87000 % 999.81820914 6.55714047 0.00000000
C 0.00 0.00000 % 0.00000000 0.00000000 0.00000000
R-UT 0.00 0.00000 % 0.00000000 0.00000000 0.00000000
R-LT 0.00 0.00000 % 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Remaining Ending
Current Non-Supported Total Unpaid Certificate/
Interest Interest Realized Interest Interest Notional
Class(5) Shortfall Shortfall Loss(6) Distribution Shortfall Balance
------- -------------- -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
A 0.00000000 0.00000000 0.00000000 5.34550230 0.00000000 904.88937723
B 0.00000000 0.00000000 0.00000000 6.55714047 0.00000000 999.81820914
C 0.00000000 0.00000000 0.00000000 00000.00000000 0.00000000 0.00000000
R-UT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-LT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
(5) Per $1,000 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.
Page 5
<PAGE> 6
Sequoia Mortgage Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 22-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
15-Sep-2000 9:43:18AM Telephone: (301) 815-6600
Fax: (301) 846-8152
SMT SERIES 2000-4
Certificateholder Account Statement
CERTIFICATE ACCOUNT
<TABLE>
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,716,006.93
Liquidations, Insurance Proceeds, Reserve Funds 52.33
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 54,084.24
Realized Losses 0.00
------------
Total Deposits 7,770,143.50
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 146,773.09
Payment of Interest and Principal 7,623,370.41
------------
Total Withdrawals (Pool Distribution Amount) 7,770,143.50
Ending Balance 0.00
============
</TABLE>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<TABLE>
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
----
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
====
</TABLE>
SERVICING FEES
<TABLE>
<S> <C>
Gross Servicing Fee 108,920.00
Trustee Fee 1,751.90
AMBAC Premium 36,101.19
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 146,773.09
==========
</TABLE>
OTHER ACCOUNTS
<TABLE>
<CAPTION>
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
------------------------- --------- ----------- --------- ---------
<S> <C> <C> <C> <C>
Reserve Fund 10,000.00 0.00 52.33 10,000.00
Financial Guaranty 0.00 0.00 0.00 0.00
</TABLE>
Page 6
<PAGE> 7
Sequoia Mortgage Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 22-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
15-Sep-2000 9:43:18AM Telephone: (301) 815-6600
Fax: (301) 846-8152
SMT SERIES 2000-4
Loan Status Stratification/Credit Enhancement Statement
DELINQUENT
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
30 Days 15 6,566,389.54
60 Days 2 348,062.61
90 Days 0 0.00
120 Days 0 0.00
150 Days 1 839,975.00
180+ Days 0 0.00
------------ ------------
18 7,754,427.15
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
30 Days 1.792115 % 1.902969 %
60 Days 0.238949 % 0.100870 %
90 Days 0.000000 % 0.000000 %
120 Days 0.000000 % 0.000000 %
150 Days 0.119474 % 0.243428 %
180+ Days 0.000000 % 0.000000 %
------------ ------------
2.150538 % 2.247267 %
</TABLE>
BANKRUPTCY
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
------------ ------------
0 0.00
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
0-29 Days 0.000000 % 0.000000 %
30 Days 0.000000 % 0.000000 %
60 Days 0.000000 % 0.000000 %
90 Days 0.000000 % 0.000000 %
120 Days 0.000000 % 0.000000 %
150 Days 0.000000 % 0.000000 %
180+ Days 0.000000 % 0.000000 %
------------ ------------
0.000000 % 0.000000 %
</TABLE>
FORECLOSURE
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
------------ ------------
0 0.00
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
0-29 Days 0.000000 % 0.000000 %
30 Days 0.000000 % 0.000000 %
60 Days 0.000000 % 0.000000 %
90 Days 0.000000 % 0.000000 %
120 Days 0.000000 % 0.000000 %
150 Days 0.000000 % 0.000000 %
180+ Days 0.000000 % 0.000000 %
------------ ------------
0.000000 % 0.000000 %
</TABLE>
REO
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
------------ ------------
0 0.00
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
0-29 Days 0.000000 % 0.000000 %
30 Days 0.000000 % 0.000000 %
60 Days 0.000000 % 0.000000 %
90 Days 0.000000 % 0.000000 %
120 Days 0.000000 % 0.000000 %
150 Days 0.000000 % 0.000000 %
180+ Days 0.000000 % 0.000000 %
------------ ------------
0.000000 % 0.000000 %
</TABLE>
Total
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
0-29 Days 0 0.00
30 Days 15 6,566,389.54
60 Days 2 348,062.61
90 Days 0 0.00
120 Days 0 0.00
150 Days 1 839,975.00
180+ Days 0 0.00
------------ ------------
18 7,754,427.15
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
------------ ------------
<S> <C> <C>
0-29 Days 0.000000 % 0.000000 %
30 Days 1.792115 % 1.902969 %
60 Days 0.238949 % 0.100870 %
90 Days 0.000000 % 0.000000 %
120 Days 0.000000 % 0.000000 %
150 Days 0.119474 % 0.243428 %
180+ Days 0.000000 % 0.000000 %
------------ ------------
2.150538 % 2.247267 %
</TABLE>
(7) Delinquencies are stratified according to the information the Servicer has
provided.
<TABLE>
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 54,084.24
</TABLE>
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/
CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
<TABLE>
<CAPTION>
Current Next
Original $ Original % Current $ Current % Class % Prepayment %
------------ ------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
Class A 3,809,982.43 1.00018182 % 3,809,289.81 1.10394913 % 98.896051 % 0.000000 %
Class B 0.00 0.00000000 % 0.00 0.00000000 % 1.103949 % 100.000000 %
Class C 0.00 0.00000000 % 0.00 0.00000000 % 0.000000 % 0.000000 %
</TABLE>
Please Refer to the Prospectus Supplement for a Full Description of Loss
Exposure
Page 7
<PAGE> 8
Sequoia Mortgage Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 22-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
15-Sep-2000 9:43:18AM Telephone: (301) 815-6600
Fax: (301) 846-8152
SMT SERIES 2000-4
COLLATERAL STATEMENT
<TABLE>
<S> <C>
Collateral Description Mixed ARM
Weighted Average Gross Coupon 8.389637%
Weighted Average Net Coupon 8.010603%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity (Stepdown Calculation) 282
Beginning Scheduled Collateral Loan Count 847
Number of Loans Paid in Full 10
Ending Scheduled Collateral Loan Count 837
Beginning Scheduled Collateral Balance 350,380,718.77
Ending Scheduled Collateral Balance 345,060,266.87
Ending Actual Collateral Balance at 31-Aug-2000 345,060,266.87
Monthly P&I Constant 2,449,542.43
Class A Optimal Amount 7,372,443.57
Ending Scheduled Balance for Premium Loans 345,060,266.87
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 3,809,289.82
Overcollateralized Amount 3,809,289.82
Overcollateralized Deficiency Amount 0.00
Base Overcollateralization Amount 0.00
</TABLE>
<TABLE>
<S> <C>
Serious Delinquencies 0.00344%
Floor Amount 2,856,967.37
Excess Cash Flow Principal Amount (Current/Cumulative) 0.00/0.00
Required Payment 0.00
Preference Amount 0.00
Alternate Certificate Rate Used? No
Specified OC 3,809,289.82
</TABLE>
Page 8
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