Filed Pursuant to Rule 424(b)(3)
Registration No. 333-179292-05
SUPPLEMENT dated February 18, 2014
(To Prospectus Supplement dated November 27, 2012
to Prospectus dated September 13, 2012)
Sequoia MORTGAGE Trust 2012-6
Mortgage Pass-Through Certificates, Series 2012-6
RWT Holdings, Inc., Sponsor
Redwood Residential Acquisition Corporation, Seller
Sequoia Residential Funding, Inc., Depositor
Sequoia Mortgage Trust 2012-6, Issuing Entity
The prospectus supplement is hereby revised as follows:
1. The following paragraph supplements the information on the cover page of the prospectus supplement:
“RBS Securities, Inc. (the “underwriter” with respect to the initial public offering hereby of the Class A-IO1 Certificates) previously purchased from the Depositor the Class A-IO1 Certificates with an aggregate class notional amount of $279,330,285.07 on February 12, 2013. Proceeds to the Depositor from such sale to the underwriter were $8,436,777.56 before deducting expenses. The underwriter now intends to offer the Class A-IO1 Certificates from time to time for sale to the public in negotiated transactions or otherwise at varying prices determined at the time of sale. Compensation to the underwriter will equal the excess, if any, of the purchase price received by the underwriter over the underwriter’s purchase price specified above, taking into account payments received by the underwriter since the date of its initial purchase. The class notional amount of the Class A-IO1 Certificates as of the date of this supplement is $243,386,593.87; if investors purchase the Class A-IO1 Certificates prior to the scheduled distribution date occurring on February 25, 2014, they will not be entitled to payments made on such distribution date and will receive their first payment on the scheduled distribution date occurring on March 25, 2014.”
(continued on following pages)
This supplement may be used to offer or sell the certificates offered hereby only if accompanied by the prospectus supplement and the prospectus described above, which should be read in their entirety by anyone considering an investment in the certificates.
Consider carefully the risk factors beginning on page S-14 of the prospectus supplement.
The investments referred to above are not insured or guaranteed by any governmental agency. Offers of these securities are made by prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities or determined if the prospectus supplement listed above, the accompanying prospectus or this supplement are accurate or complete. Any representation to the contrary is a criminal offense.
Underwriter
2. A new Risk Factor is inserted under the caption “RISK FACTORS” as follows:
“Mortgage Loan Subject to Bankruptcy Proceedings
The mortgagors of one mortgage loan included in the mortgage pool filed a petition for relief under chapter 11 of the United States Bankruptcy Code in November 2012. The mortgagors confirmed a plan of reorganization in October, 2013, pursuant to which the terms of the mortgage loan remain unaltered. The mortgagors have not yet received their discharge. The outstanding principal balance of such mortgage loan as of the date of this supplement is $481,115.07, and the mortgage loan is current. Should these mortgagors default in the future, there could be delays or reductions in payments on, or other losses with respect to, the offered certificates. ”
3. The Risk Factor entitled “Downgrade of Long-term Ratings of Eurozone Nations May Adversely Affect the Market Value of the Offered Certificates” is replaced with the following:
“Downgrade of Long-term Ratings of Eurozone Nations and the United States May Adversely Affect the Market Value of the Offered Certificates
In response to the economic situation facing the European Economic and Monetary Union, or Eurozone, based on factors including tightening credit conditions, higher risk premiums on Eurozone sovereigns and disagreement among European policy makers as to how best to address the declining market confidence with respect to the Eurozone, on January 13, 2012, Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business (“S&P”), downgraded the long-term credit ratings on nine members of the Eurozone, including Austria, Cyprus, France, Italy, Malta, Portugal, Slovakia, Slovenia and Spain.
On August 5, 2011, S&P lowered the long-term sovereign credit rating of U.S. Government debt obligations from AAA to AA+. On August 8, 2011, S&P also downgraded the long-term credit ratings of U.S. government-sponsored enterprises. These actions initially had an adverse effect on financial markets and although we are unable to predict the longer-term impact on such markets and the participants therein, it might be materially adverse to the value of the offered certificates.”
4. The third paragraph of the Risk Factor entitled “Recent Trends in the Residential Mortgage Market May Adversely Affect the Performance and Market Value of Your Certificates” is replaced with the following:
“Current market conditions may impair borrowers’ ability to refinance or sell their residential properties, which may also contribute to higher delinquency and default rates. In response to increased delinquencies and losses with respect to mortgage loans, many mortgage loan originators recently have implemented more restrictive underwriting criteria for mortgage loans, which will likely result in reduced availability of refinancing alternatives for borrowers. The recent effectiveness of a final rule relating to “qualified mortgages” may further limit the availability of refinancing alternatives, as described more fully under “Financial Regulatory Reforms and Additional Proposed Regulations Could Have a Significant Impact on the Depositor, the Servicers or Any Successor Servicer or on the Value of the Certificates” below. These risks would be exacerbated to the extent that prevailing mortgage interest rates increase from current levels. Home price depreciation experienced to date, and any further price depreciation, may also leave borrowers with insufficient equity in their homes to enable them to refinance. Borrowers who intend to sell their homes on or before the maturity of their mortgage loans may find that they cannot sell their property for an amount equal to or greater than the unpaid principal balance of their mortgage loans. While some mortgage loan originators and servicers have created or otherwise are participating in modification programs in order to assist borrowers with refinancing or otherwise meeting their payment obligations, not all borrowers will qualify for or will take advantage of these opportunities.”
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5. The following is added as a new fourth paragraph to the Risk Factor entitled “Financial Regulatory Reforms and Additional Proposed Regulations Could Have a Significant Impact on the Depositor, the Servicers or Any Successor Servicer or on the Value of the Certificates”:
“The Dodd-Frank Act also prohibits lenders from originating residential mortgage loans unless the lender determines that the borrower has a reasonable ability to repay the loan. Under the Dodd-Frank Act, a lender and its assignees will not have liability under this prohibition with respect to any “qualified mortgage.” The CFPB has issued a final rule, which became effective on January 10, 2014, specifying the characteristics of a qualified mortgage for this purpose. Interest-only loans, hybrid mortgage loans and balloon loans, as well as loans with a debt-to-income ratio exceeding 43%, in general do not constitute qualified mortgages. The final rule may result in a reduction in the availability of these types of loans in the future and may adversely affect the ability of mortgagors to refinance mortgage loans included in the mortgage pool. The final rule is not applicable to the mortgage loans included in the mortgage pool and no assurances are given as to the effect of the new rule on the value of your certificates.”
6. The fifth paragraph of the Risk Factor entitled “Financial Regulatory Reforms and Additional Proposed Regulations Could Have a Significant Impact on the Depositor, the Servicers or Any Successor Servicer or on the Value of the Certificates” is replaced with the following:
“On August 28, 2013, the SEC issued a release soliciting public comment on re-proposed rules that were first proposed in March 2011. If adopted, the re-proposed rules would require, among other things, that the sponsor or an affiliate of the sponsor retain at least 5% of the credit risk of a non-exempt securitization, and in general prohibit, for a period of at least five (5) years after the close of the securitization, the transfer or hedging, and restrict the pledge, of the retained credit risk. In April 2010, the SEC proposed rules, some of which were re-proposed in July 2011, that, if adopted, would further revise substantially Regulation AB and other rules regarding the offering process, disclosure and reporting for publicly-issued asset-backed securities. Among other things, the proposed changes would require (i) enhanced disclosure of loan level information at the time of securitization and on an ongoing basis, (ii) that the transaction agreements provide for review of the underlying assets by an independent credit risk manager if certain trigger events occur and (iii) periodic assessments of an asset-backed security issuer’s continued ability to conduct shelf offerings. We cannot predict what effect the proposed rules will have, if adopted, on the marketability of asset-backed securities such as the certificates. In addition, if the proposed rules are adopted, your certificates, which may not be subject to all of the requirements included in the proposed rules, may be less marketable than those that are offered in compliance with the proposed rules.”
7. The last two paragraphs of the Risk Factor entitled “Financial Regulatory Reforms and Additional Proposed Regulations Could Have a Significant Impact on the Depositor, the Servicers or Any Successor Servicer or on the Value of the Certificates” are replaced with the following:
“Prospective investors should also independently assess and determine whether they are directly or indirectly subject to market risk capital rules jointly promulgated by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the FDIC that became effective on January 1, 2013. Any prospective investor that is subject to these rules should independently assess and determine its ability to comply with the regulatory capital treatment and reporting requirements that may be required with respect to the purchase of an offered certificate and what impact any such regulatory capital treatment and reporting requirements may have on the liquidity or market value of the offered certificates.
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On February 9, 2012, the Department of Justice, the Department of Housing and Urban Development, and attorneys general representing 49 states and the District of Columbia reached a settlement agreement with five large mortgage servicers in connection with servicing and foreclosure issues. Consent judgments implementing the agreement were filed in the U.S. District Court in Washington, D.C. in March, 2012. The settlement agreement provides for financial relief for homeowners, including mortgage loan principal reduction, refinancing and increased benefits and protections for servicemembers and veterans, and requires a comprehensive reform of mortgage servicing practices for the five servicers. While none of the servicers servicing mortgage loans included in the mortgage pool are subject to the settlement agreement, it is possible that future actions against additional servicers will result in similar agreements with similar terms, or regulations or rules enacted by the CFPB or other governmental entities could require the servicers to implement these types of reforms with respect to the mortgage loans. For example, the CFPB has released final rules relating to mortgage servicing, which became effective in January 2014, that prohibit a servicer from commencing a foreclosure until a mortgage loan is more than 120 days delinquent. The final rules also require servicers to provide certain notices and follow specific procedures relating to loss mitigation and foreclosure alternatives. In addition, the State of California recently enacted the Homeowner’s Bill of Rights, which requires similar changes in delinquent loan servicing and foreclosure procedures and creates a private right of action permitting borrowers to bring legal actions against lenders who violate the law. Any changes to a servicer’s servicing procedures could cause delays in payments to or increase losses to the certificateholders.”
8. The first paragraph of the Risk Factor entitled “Governmental Actions May Affect Servicing of Mortgage Loans and May Limit the Servicers’ Ability to Foreclose” is replaced with the following:
“The federal government, state and local governments, consumer advocacy groups and others continue to urge servicers to be aggressive in modifying mortgage loans to avoid foreclosure, and federal, state and local governmental authorities have enacted and continue to propose numerous laws, regulations and rules relating to mortgage loans generally, and foreclosure actions particularly. For example, the CFPB has released final rules relating to mortgage servicing, which became effective in January 2014, that prohibit a servicer from commencing a foreclosure until a mortgage loan is more than 120 days delinquent. The final rules also require servicers to provide certain notices and follow specific procedures relating to loss mitigation and foreclosure alternatives.”
9. The second paragraph of the Risk Factor entitled “The Return on Your Certificates Could Be Reduced by Shortfalls due to the Servicemembers Civil Relief Act” is replaced with the following:
“The Relief Act also limits the ability of the servicers to foreclose on a mortgage loan during the borrower’s period of active duty and, in some cases, during an additional one year period thereafter. As a result, there may be delays in payment and increased losses on the mortgage loans. Those delays and increased losses will be borne primarily by the class of certificates with a certificate principal amount greater than zero with the lowest payment priority.”
10. The first three paragraphs of the Risk Factor entitled “Proposals to Acquire Mortgage Loans by Eminent Domain May Adversely Affect Your Certificates” are replaced with the following:
“Numerous cities and local governments throughout the United States have been considering programs to assist homeowners in their jurisdictions who are obligated on residential mortgage loans with outstanding balances in excess of the market value of the related mortgaged properties. The proposed programs include authorization to acquire any such mortgage loans by voluntary purchase or eminent domain and to modify those mortgage loans to allow homeowners to continue to own and occupy their homes, irrespective of whether the mortgage loans are actually in default or foreclosure.
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In April 2013, the City of Richmond, California (the “City of Richmond”), approved such a program and in July 2013, the City of Richmond commenced the program by sending letters to trustees and servicers of mortgage loans included in securitization trusts. The letters state that the City of Richmond had the mortgage loans appraised to determine their fair market value, and include offers to purchase specific mortgage loans at specific purchase prices based on such appraisals. The letters state further that if the owners of the mortgage loans elect not to sell the mortgage loans to the City of Richmond for the specified prices, the City of Richmond may proceed with the acquisition of the mortgage loans through exercising its power of eminent domain. In an eminent domain proceeding, if the seller and purchaser do not agree on a purchase price, the purchase price would be determined through additional legal proceedings. Two recent lawsuits were filed by three mortgage-bond trustees against the City of Richmond’s eminent domain program, both of which have been dismissed without prejudice as not being ripe for determination. Among other things, the lawsuits alleged that the City of Richmond’s proposed use of eminent domain is unconstitutional as a violation of the law on interstate commerce and as a violation of the criterion that mortgage loans being seized are for valid public purpose. The lawsuits sought a preliminary injunction against the City of Richmond and Mortgage Resolution Partners, an investment firm the city has partnered with on the eminent domain plan. Although proponents of the eminent domain plan have not been able to obtain the vote of a supermajority of the Richmond City Council that is necessary to implement the plan, the mayor and other supporters are continuing to pursue it, including alternatives such as establishing a joint powers authority to implement the plan, which does not require a supermajority vote but does require the participation of one or more other governmental entities.
Although none of the mortgage loans included in the mortgage pool are located in the City of Richmond, there is no certainty as to whether any other governmental entity will take steps to acquire any mortgage loans under such a program in the future, whether any other mortgage loans sought to be purchased will be mortgage loans held in securitization trusts and what purchase price would be paid for any such mortgage loans. Any such actions could have a material adverse effect on the market value of residential mortgage-backed certificates such as the certificates. There is also no certainty as to whether any such action without the consent of investors would face legal challenge, and, if so, the outcome of any such challenge.”
11. The following Risk Factor is added at the end of the caption “RISK FACTORS”:
“Risks Related to the Potential Elimination or Reduction of the Mortgage-Interest Tax Deduction
Various tax reform proposals continue to circulate in Congress, some of which would change the manner in which home interest deductions are treated. It is unclear whether any of the pending tax reform proposals will be enacted, either piecemeal as revenue raisers or as part of a more comprehensive package of tax reforms. Elimination or further restrictions on the mortgage-interest tax deduction could negatively affect the U.S. housing market, the market value of residential mortgage loans and the certificates.”
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12. The Risk Factor entitled “Risks Associated With Potential New Laws relating to Mortgage Loan Origination or Ownership” is replaced by the following:
“Risks Associated With Mortgage Loan Origination or Ownership; No “Qualified Mortgage” Representation
The Truth in Lending Act provides that subsequent purchasers of mortgage loans originated in violation of certain requirements specified in the Truth in Lending Act may have liability for such violations. As described more fully above under “—Financial Regulatory Reforms and Additional Proposed Regulations Could Have a Significant Impact on the Depositor, the Servicers or Any Successor Servicer or on the Value of the Certificates,” the CFPB has issued regulations, which became effective in January 2014, specifying the standards for a “qualified mortgage” that would have the benefit of a safe harbor from such liability if certain requirements are satisfied, or a rebuttable presumption from such liability if only certain of these requirements are satisfied. Although the regulations do not apply to the mortgage loans included in the mortgage pool, many of such mortgage loans may not satisfy the requirements for a “qualified mortgage” under either set of requirements. Possible liabilities that could be required to be paid by an assignee of a mortgage loan include actual damages suffered by the borrower, litigation costs, statutory damages and special statutory damages. Various state and local legislatures may adopt similar or more onerous provisions in the future. We are unable to predict how these laws and regulations relating to assignee liability may affect the value of your certificates. In addition, the qualified mortgage rule may adversely affect the market generally for mortgage-backed securities, if investors are not willing to invest in pools of mortgage loans that do not satisfy the qualified mortgage requirements, thereby reducing the liquidity of your certificates. No representation as to whether any mortgage loans included in the mortgage pool satisfy the qualified mortgage requirements will be given.”
13. The first paragraph of the Risk Factor entitled “Market Exit of Originators and Servicers; Financial Condition of Originators, Servicers and the Seller” is replaced with the following:
“The financial difficulties of originators and servicers of residential mortgage loans may be exacerbated by higher delinquencies and defaults that reduce the value of mortgage loan portfolios, requiring originators to sell their portfolios at greater discounts to par. In addition, the costs of servicing an increasingly delinquent mortgage loan portfolio may be rising without a corresponding increase in servicing compensation. The value of many residual interests retained by sellers of mortgage loans in the securitization market has also been declining in these market conditions. Currently, overall origination volumes are down significantly. Many originators and servicers of residential mortgage loans also have been the subject of governmental investigations and litigations, many of which have the potential to impact the financial condition of those financial institutions. In addition, any regulatory oversight, proposed legislation and/or governmental intervention designed to protect consumers may have an adverse impact on originators and servicers. The CFPB has released final rules relating to mortgage servicing, which became effective in January 2014, and such rules may increase the costs associated with servicing mortgage loans. On January 7, 2013, federal regulators reached an $8.5 billion settlement agreement with ten U.S. banks regarding alleged foreclosure abuses. While none of the servicers servicing mortgage loans included in the mortgage pool are currently subject to the settlement agreement, it is possible that similar settlement agreements will be reached with similar terms. These factors, among others, may have the overall effect of increasing costs and expenses of originators and servicers while at the same time decreasing servicing cash flow and loan origination revenues, and in turn may lead to originators or servicers leaving the industry.”
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14. The first paragraph of the text under the caption “STATIC POOL INFORMATION” is replaced with the following:
“Static pool information with respect to mortgage loans included in prior securitizations of the sponsor that are similar to the mortgage loans of the issuing entity for the period from March 2011 to January 2014 is attached as Annex C to this supplement.”
15. The following paragraph is added under the caption “ADDITIONAL INFORMATION”:
“The Form 10-D distribution reports relating to the distributions made to the certificateholders since the initial closing have been filed with the SEC and are available at the locations and website as noted above. Investors are encouraged to review such reports. A copy of the January 2014 monthly statement to certificateholders is attached hereto as Exhibit A.
Investors should note that this supplement supersedes in its entirety the supplement to prospectus supplement dated February 8, 2013 that was previously filed with the SEC.”
16. The text under the caption “SPONSOR MATERIAL LEGAL PROCEEDINGS” is replaced with the following:
“At the date of this supplement, other than litigation in the ordinary course of business, such as litigation involving foreclosures or other exercise of its rights as a creditor, and other than as described below, there were no material pending legal proceedings to which any of the sponsor, the seller, the depositor or the issuing entity was a party or of which any of their property was subject, and, other than as described below, the depositor is not aware of any material pending legal proceedings known to be contemplated by governmental authorities against the sponsor, the seller, the depositor or the issuing entity.
On or about December 23, 2009, the Federal Home Loan Bank of Seattle (the “FHLB-Seattle”) filed a complaint in the Superior Court for the State of Washington (case number 09-2-46348-4 SEA) against the depositor, Redwood Trust, Inc., Morgan Stanley & Co., and Morgan Stanley Capital I, Inc. (collectively, the “FHLB-Seattle Defendants”) alleging that the FHLB-Seattle Defendants made false or misleading statements in offering materials for a mortgage pass-through certificate (the “Seattle Certificate”) issued in the Sequoia Mortgage Trust 2005-4 securitization transaction (the “2005-4 RMBS”) and purchased by the FHLB-Seattle. Specifically, the complaint alleges that the alleged misstatements concern the (1) loan-to-value ratio of mortgage loans and the appraisals of the properties that secured loans supporting the 2005-4 RMBS, (2) occupancy status of the properties, (3) standards used to underwrite the loans, and (4) ratings assigned to the Seattle Certificate. The FHLB-Seattle alleges claims under the Securities Act of Washington (Section 21.20.005, et seq.) and seeks to rescind the purchase of the Seattle Certificate and to collect interest on the original purchase price at the statutory interest rate of 8% per annum from the date of original purchase (net of interest received) as well as attorneys’ fees and costs. The Seattle Certificate was issued with an original principal amount of approximately $133 million, and, as of September 30, 2013, the FHLB-Seattle has received approximately $113.3 million of principal and $11.0 million of interest payments in respect of the Seattle Certificate. As of September 30, 2013, the Seattle Certificate has a remaining outstanding principal amount of approximately $20.2 million. The claims were subsequently dismissed for lack of personal jurisdiction as to the depositor and Redwood Trust. The depositor and Redwood Trust agreed to indemnify the underwriters of the 2005-4 RMBS for certain losses and expenses they might incur as a result of claims made against them relating to this RMBS, including, without limitation, certain legal expenses. The FHLB-Seattle’s claims against the underwriters of this RMBS were not dismissed and remain pending. Regardless of the outcome of this litigation, the depositor and Redwood Trust could incur a loss as a result of these indemnities.
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On or about July 15, 2010, The Charles Schwab Corporation (“Schwab”) filed a complaint in the Superior Court for the State of California in San Francisco (case number CGC-10-501610) against the depositor and 26 other defendants (collectively, the “Schwab Defendants”) alleging that the Schwab Defendants made false or misleading statements in offering materials for various residential mortgage-backed securities sold or issued by the Schwab Defendants. With respect to the depositor, Schwab alleges that the depositor made false or misleading statements in offering materials for a mortgage pass-through certificate (the “Schwab Certificate”) issued in the 2005-4 RMBS and purchased by Schwab. Specifically, the complaint alleges that the misstatements for the 2005-4 RMBS concern the (1) loan-to-value ratio of mortgage loans and the appraisals of the properties that secured loans supporting the 2005-4 RMBS, (2) occupancy status of the properties, (3) standards used to underwrite the loans, and (4) ratings assigned to the Schwab Certificate. Schwab alleges a claim for negligent misrepresentation under California state law and seeks unspecified damages and attorneys’ fees and costs. The Schwab Certificate was issued with an original principal amount of approximately $14.8 million, and, as of September 30, 2013, Schwab has received approximately $12.6 million of principal and $1.3 million of interest payments in respect of the Schwab Certificate. As of September 30, 2013, the Schwab Certificate has a remaining outstanding principal amount of approximately $2.2 million. The depositor has denied Schwab’s allegations. This case is in the early stages of discovery, and no trial date has been set. The depositor believes that this case is without merit, and intends to defend the action vigorously. The depositor and Redwood Trust agreed to indemnify the underwriters of the 2005-4 RMBS, which underwriters are also named defendants in this action, for certain losses and expenses they might incur as a result of claims made against them relating to this RMBS, including, without limitation, certain legal expenses. Regardless of the outcome of this litigation, the depositor and Redwood Trust could incur a loss as a result of these indemnities.
On or about October 15, 2010, the Federal Home Loan Bank of Chicago (“FHLB-Chicago”) filed a complaint in the Circuit Court of Cook County, Illinois (case number 10-CH-45033) against the depositor and more than 45 other named defendants (collectively, the “FHLB-Chicago Defendants”) alleging that the FHLB-Chicago Defendants made false or misleading statements in offering materials for various residential mortgage-backed securities sold or issued by the FHLB-Chicago Defendants or entities controlled by them. FHLB-Chicago subsequently amended the complaint to name Redwood Trust and another one of Redwood Trust’s subsidiaries, RWT Holdings, Inc., as defendants. With respect to Redwood Trust, RWT Holdings, and the depositor, the FHLB-Chicago alleges that Redwood Trust, RWT Holdings, and the depositor made false or misleading statements in the offering materials for two mortgage pass-through certificates (the “Chicago Certificates”) issued in the Sequoia Mortgage Trust 2006-1 securitization transaction (the “2006-1 RMBS”) and purchased by the FHLB-Chicago. The complaint alleges that the alleged misstatements concern, among other things, the (1) loan-to-value ratio of mortgage loans and the appraisals of the properties that secured loans supporting the 2006-1 RMBS, (2) occupancy status of the properties, (3) standards used to underwrite the loans, (4) ratings assigned to the Chicago Certificates, and (5) due diligence performed on these mortgage loans. The FHLB-Chicago alleges claims under Illinois Securities Law (815 ILCS Sections 5/12(F)-(H)) and North Carolina Securities Law (N.C.G.S.A. §78A-8(2) & §78A-56(a)) as well as a claim for negligent misrepresentation under Illinois common law. On some of the causes of action, the FHLB-Chicago seeks to rescind the purchase of the Chicago Certificates and to collect interest on the original purchase prices at the statutory interest rate of 10% per annum from the dates of original purchase (net of interest received). On one cause of action, the FHLB-Chicago seeks unspecified damages. The FHLB-Chicago also seeks attorneys’ fees and costs. The first of the Chicago Certificates was issued with an original principal amount of approximately $105 million and, at September 30, 2013, the FHLB Chicago has received approximately $71.5 million of principal and $24.0 million of interest payments in respect of this Chicago Certificate. As of September 30, 2013, this Chicago Certificate has a remaining outstanding principal amount of approximately $32.8 million (after taking into account approximately $0.9 million of principal losses allocated to this Chicago Certificate). The second of the Chicago Certificates was issued with an original principal amount of approximately $379 million and, at September 30, 2013, the FHLB Chicago has received approximately $256.1 million of principal and $80.7 million of interest payments in respect of this Chicago Certificate. As of September 30, 2013, this Chicago Certificate has a remaining outstanding principal amount of approximately $116.7 million (after taking into account approximately $6.0 million of principal losses allocated to this Chicago Certificate). The depositor, Redwood Trust, and RWT Holdings have denied FHLB-Chicago’s allegations. This case is in the early stages of discovery, and no trial date has been set. The depositor believes that this case is without merit, and the depositor intends to defend the action vigorously. The depositor and Redwood Trust agreed to indemnify the underwriters of the 2006-1 RMBS, which underwriters are also named defendants in this action, for certain losses and expenses they might incur as a result of claims made against them relating to this RMBS, including, without limitation, certain legal expenses. Regardless of the outcome of this litigation, the depositor and Redwood Trust could incur a loss as a result of these indemnities.
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The business of the sponsor, the depositor, the seller and their affiliates has included, and continues to include, activities relating to the acquisition and securitization of residential mortgage loans. In addition, the business of the sponsor has, in the past, included activities relating to the acquisition and securitization of debt obligations and other assets through the issuance of collateralized debt obligations (commonly referred to as CDO transactions). Because of their involvement in the securitization and CDO businesses, the sponsor, the depositor, the seller and their affiliates could become the subject of litigation relating to these businesses, including additional litigation of the type described above, and could also become the subject of governmental investigations, enforcement actions, or lawsuits and governmental authorities could allege that these entities violated applicable law or regulation in the conduct of their business.
In fact, the sponsor and its affiliates have received, and responded to, information requests and subpoenas from two governmental authorities (one by the SEC relating to the sponsor’s CDO business and one by the National Credit Union Administration relating to a residential mortgage securitization conducted by the sponsor and the depositor). It is possible that the sponsor, the depositor, the seller or their affiliates might not be successful in defending or responding to any litigation, governmental investigation or related action and any losses incurred as a result of the resolution of any such action or investigation could have a material adverse effect on the sponsor, the depositor, the seller or their affiliates. In any case, regardless of the merits of any allegation or legal action that may be brought against the sponsor, the depositor, the seller or their affiliates, or of their success in defending against such allegations or legal actions, the costs of defending against any such allegation or legal action may be significant or material and could have a material adverse effect on the sponsor, the depositor, the seller or their affiliates.”
17. The third and fourth paragraphs and the table under the caption “THE SPONSOR AND THE SELLER AND SERVICING ADMINISTRATOR” are replaced with the following:
“During calendar years 2011 and 2012 and the first quarter of 2013, no mortgage loans securitized by the sponsor were the subject of a demand to repurchase or replace for breach of the representations and warranties concerning the pool assets contained in the related underlying transaction documents, or any related activity, for all asset-backed securities held by non-affiliates of the sponsor during such periods. During the second quarter of 2013, an affiliate of the sponsor submitted to a mortgage loan originator a repurchase demand with respect to a mortgage loan included in a securitization of the sponsor for which there was an alleged breach of a mortgage loan representation and warranty. This mortgage loan is included in the mortgage pool and is described in paragraph 2 of this supplement for the section entitled“Risk Factors—Mortgage Loan Subject to Bankruptcy Proceedings.” Such demand was conditionally withdrawn during the third quarter of 2013 and no additional repurchase activity with respect to securitizations of the sponsor has occurred in the fourth quarter of 2013. In addition, in April 2013 and in October 2013, repurchase demands for securitizations of the sponsor were made in accordance with a covenant of originators to repurchase any mortgage loan that experiences an early payment default, and both of such mortgage loans were repurchased by their respective originators.
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The sponsor filed its most recent Form ABS-15G on February 11, 2014. The sponsor’s CIK number is 0001530239.
Additional information with respect to repurchase activity with respect to the breach of a mortgage loan representation and warranty for securitizations of the sponsor for the prior three years is set forth on the following page:
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Name of Issuing Entity | Check if Registered | Name of Originator | Total Assets in ABS by Originator | Assets That Were Subject of Demand | Assets That Were Repurchased or Replaced | Assets Pending Repurchase or Replacement (within cure period) | ||||||||
# | $ | (% of principal balance) | # | $ | (% of principal balance) | # | $ | (% of principal balance) | # | $ | (% of principal balance) | |||
Sequoia Mortgage Trust 2012-6, CIK#0001561167SEC File 333-179292-05 | X | Evergreen Home Loans | 4 | $2,506,198 | 0.83% | 1 | $484,803.92 | 0.17813% | 0 | - | 0 | - | - |
Demand in Dispute | Demand Withdrawn** | Demand Rejected | Outstanding Principal Balance (09/25/2013) | |||||||
# | $ | (% of principal balance) | # | $ | (% of principal balance) | # | $ | (% of principal balance) | ||
0 | - | - | 1 | $484,803.92 | 0.17813% | 0 | - | - | $272,162,289.21 |
TOTALS | ||||||||||||||
Name of Issuing Entity | Check if Registered | Name of Originator | Total Assets in ABS by Originator | Assets That Were Subject of Demand | Assets That Were Repurchased or Replaced | Assets Pending Repurchase or Replacement (within cure period) | ||||||||
# | $ | (% of principal balance) | # | $ | (% of principal balance) | # | $ | (% of principal balance) | # | $ | (% of principal balance) | |||
Sequoia Mortgage Trust 2012-6, CIK#0001561167SEC File 333-179292-05 | X | Evergreen Home Loans | 4 | $2,506,198 | 0.83% | 1 | $484,803.92 | 0.17813% | 0 | - | - | 0 | - | - |
Demand in Dispute | Demand Withdrawn** | Demand Rejected | Outstanding Principal Balance (06/25/2013) | |||||||
# | $ | (% of principal balance) | # | $ | (% of principal balance) | # | $ | (% of principal balance) | ||
0 | - | - | 1 | $484,803.92 | 0.17813% | 0 | - | - | $272,162,289.21 |
**Conditionally withdrawn.”
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18. The table and caption below on page S-110 of the prospectus supplement are replaced with the following:
“PRE-TAX YIELD TO MATURITY OF THE CLASS A-IO1 CERTIFICATES AT THE FOLLOWING PERCENTAGES OF CPR
The table below was prepared based on the following assumptions (collectively, the “Modeling Assumptions”): (1) the Class Principal Amounts and Class Notional Amounts of the certificates are as set forth under the caption “Current Principal Balance” in the January 2014 Monthly Report attached hereto as Exhibit A (the “January Monthly Report”); (2) for the distribution date in February 2014, a CPR of 10.58%, resulting in an assumed Class Notional Amount of the Class A-IO1 Certificates of $240,560,134.38; (3) each monthly scheduled payment of principal and interest is timely received on the first day of each month commencing in February 2014; (4) principal prepayments are received in full on the last day of the month preceding the related distribution date, commencing in January 2014, and there are no Net Prepayment Interest Shortfalls; (5) there are no defaults or delinquencies on the mortgage loans; (6) distribution dates occur on the 25th day of each month commencing in February 2014 regardless of whether such day is a business day; (7) there are no purchases or substitutions of mortgage loans; (8) there is no optional termination of the issuing entity; (9) the Class A-IO1 certificates are purchased on February 21, 2014; (10) the aggregate servicing fee rate and master servicing fee rate for any mortgage loan is equal to the rate of 0.28% per annum; and (11) the mortgage loans have the characteristics specified in the Free Writing Prospectus filed by the depositor with the SEC on February 13, 2014. Summary information regarding the characteristics of the mortgage loans is included in the January Monthly Report.
Although the Modeling Assumptions are based on the characteristics of the mortgage loans provided by the Master Servicer as of the date of the January 2014 Monthly Report, the actual characteristics and performance of the mortgage loans will differ from the assumptions used in constructing the table set forth below, which is hypothetical in nature and is provided only to give a general sense of how the yield on the Class A-IO1 Certificates may vary under varying prepayment scenarios. For example, it is not expected that the mortgage loans will prepay at a constant rate until maturity, that all of the mortgage loans will prepay at the same rate or that there will be no defaults or delinquencies on the mortgage loans. Moreover, the diverse remaining terms to maturity of the mortgage loans could produce slower or faster principal payments than indicated in the table, even if the weighted average remaining term to maturity is as assumed. Any difference between such assumptions and the actual characteristics and performance of the mortgage loans, or the actual prepayment or loss experience, will cause the yield on the Class A-IO1 Certificates to differ (which difference could be material) from the corresponding information in the table for each indicated percentage of CPR.
12 |
PRE-TAX YIELD TO MATURITY OF THE CLASS A-IO1 CERTIFICATES AT THE FOLLOWING PERCENTAGES OF CPR
Price (%) | 5% CPR | 10% CPR | 15% CPR | 20% CPR | 30% CPR | 40% CPR | 50% CPR |
3.52065 | 14.340% | 8.168% | 1.472% | (5.987)% | (24.454)% | (52.574)% | (79.901)% |
3.77065 | 12.741% | 6.602% | (0.087)% | (7.569)% | (26.154)% | (54.726)% | (82.160)% |
4.02065 | 11.333% | 5.222% | (1.466)% | (8.973)% | (27.672)% | (56.666)% | (84.200)% |
4.27065 | 10.083% | 3.994% | (2.696)% | (10.231)% | (29.040)% | (58.430)% | (86.056)% |
4.52065 | 8.963% | 2.893% | (3.804)% | (11.367)% | (30.281)% | (60.044)% | (87.755)% |
4.77065 | 7.952% | 1.898% | (4.807)% | (12.400)% | (31.415)% | (61.528)% | (89.318)% |
5.02065 | 7.035% | 0.993% | (5.722)% | (13.345)% | (32.457)% | (62.900)% | (90.764)% |
5.27065 | 6.197% | 0.166% | (6.561)% | (14.215)% | (33.419)% | (64.174)% | (92.107)% |
5.52065 | 5.427% | (0.594)% | (7.335)% | (15.020)% | (34.312)% | (65.362)% | (93.360)% |
Based upon the above assumptions, at approximately 12.2% CPR (at an assumed purchase price of 4.52065% of the Class Notional Amount of the Class A-IO1 Certificates, excluding accrued interest, but adding accrued interest to the price for purposes of calculating yield), the pre-tax yield to the Class A-IO1 Certificates will be approximately 0%. If the rate of prepayments on the mortgage loans were to exceed such prepayment level for as little as one month, while equaling such level for all other months, the Class A-IO1 Certificateholders would not fully recoup their initial investment.
The pre-tax yields set forth in the preceding table were calculated by determining the monthly discount rates which, when applied to the assumed streams of cash flows to be paid on the Class A-IO1 Certificates, would cause the discounted present value of such assumed stream of cash flows to the purchase date of February 21, 2014 to equal the assumed purchase prices (plus accrued interest), and converting such monthly rates to CBE rates.”
19.ANNEX C – STATIC POOL INFORMATION to the prospectus supplement is replaced with Annex C attached to this supplement.
13 |
ANNEX C – STATIC POOL INFORMATION
The following tables set forth static pool information with respect to securitizations of residential mortgage loans comparable to the mortgage loans included in the issuing entity that were sponsored by RWT Holdings, Inc.
All data should be reviewed in light of the following notes:
Calculations:
3 month CPR = 1-(1-(current balance from two periods prior -Current period’s current balance)/(current balance from two periods prior))^(4)
Cumulative CPR = 1-(1-(current balance from first period -Current period’s current balance)/(current balance from first period))^(12/total # of periods)
See also “Static Pool Information”in the prospectus supplement for a description of how the static pool information is calculated.
SEMT 2011-1
Original Pool Characteristics
Total Stated Principal Balance | $ 296,326,815 |
Number of Mortgage Loans | 303 |
Average Stated Principal Balance | $ 977,976 |
Weighted Average Mortgage Rate | 5.048% |
Weighted Average Margin (HYB 10/1s only) | 1.496% |
Weighted Average Remaining Term to Maturity (in Months) | 352 |
Weighted Average FICO (by Securitized Balance) | 775 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 58.76% |
Mortgage Rate Range
4.25% - 4.50% | 2.81% |
4.51% - 4.75% | 13.32% |
4.76% - 5.00% | 36.43% |
5.01% - 5.25% | 28.09% |
5.26% - 5.50% | 16.42% |
5.51% - UP | 2.94% |
Product Type
Fixed Rate 30YR | 57.32% |
HYB 10/1 | 42.68% |
Interest Only Loans
Yes | 42.19% |
No | 57.81% |
C-1 |
Geographic Distribution
CA | 56.27% |
NY | 8.15% |
WA | 5.98% |
MA | 4.94% |
CO | 2.83% |
CT | 2.67% |
TX | 1.89% |
MI | 1.81% |
OR | 1.70% |
NJ | 1.40% |
Other | 12.36% |
Occupancy
Primary | 94.36% |
Second Home | 5.41% |
Investor Property | 0.23% |
Property Type
Single Family | 75.48% |
PUD Detached | 10.76% |
PUD Attached | 4.62% |
Condo High-Rise | 2.87% |
Cooperative Unit | 2.55% |
Condo Low-Rise | 1.89% |
2 Family | 1.16% |
Townhouse | 0.68% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-2 |
SEMT 2011-1
SEMT 2011-1 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Mar-11 | 290,718,718 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 4,503,047 | 4,503,047 | 17.54 | |
Apr-11 | 289,721,974 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 788,314 | 5,291,361 | 20.90 | |
May-11 | 288,472,204 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 1,040,650 | 6,332,010 | 9.09 | 13.34 |
Jun-11 | 287,968,144 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 295,090 | 6,627,101 | 3.73 | 9.74 |
Jul-11 | 285,275,783 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 2,482,355 | 9,109,455 | 6.00 | 9.97 |
Aug-11 | 283,534,803 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 1,530,753 | 10,640,208 | 6.67 | 9.40 |
Sep-11 | 279,870,735 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 3,452,790 | 14,092,998 | 10.78 | 10.26 |
Oct-11 | 271,994,742 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 7,666,545 | 21,759,543 | 17.36 | 13.21 |
Nov-11 | 257,669,654 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 14,117,903 | 35,877,446 | 31.79 | 18.55 |
Dec-11 | 248,462,206 | 1 | 592,315 | 0.23% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 9,004,975 | 44,882,421 | 37.88 | 20.62 |
Jan-12 | 229,298,031 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 18,964,766 | 63,847,187 | 49.49 | 26.22 |
Feb-12 | 216,298,512 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 12,810,450 | 76,657,637 | 50.35 | 28.83 |
Mar-12 | 209,728,983 | 1 | 574,299 | 0.27% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 6,386,295 | 83,043,932 | 49.23 | 29.01 |
Apr-12 | 202,848,143 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 6,699,486 | 89,743,418 | 38.75 | 29.32 |
May-12 | 191,776,008 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 10,895,577 | 100,638,995 | 38.20 | 30.95 |
Jun-12 | 181,118,396 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 10,490,142 | 111,129,138 | 44.38 | 32.39 |
Jul-12 | 174,355,380 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 6,607,179 | 117,736,317 | 45.42 | 32.67 |
Aug-12 | 165,547,136 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 8,653,526 | 126,389,843 | 44.47 | 33.56 |
Sep-12 | 151,169,125 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 14,229,944 | 140,619,787 | 51.47 | 36.03 |
Oct-12 | 141,439,046 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 9,591,007 | 150,210,794 | 56.70 | 37.20 |
Nov-12 | 131,200,151 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 10,108,588 | 160,319,382 | 60.55 | 38.56 |
Dec-12 | 120,562,228 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 10,516,203 | 170,835,586 | 59.54 | 40.08 |
Jan-13 | 106,831,916 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 13,618,017 | 184,453,603 | 67.45 | 42.58 |
Feb-13 | 99,351,579 | 1 | 581,033 | 0.58% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 7,378,502 | 191,832,105 | 67.12 | 43.37 |
Mar-13 | 91,448,514 | 0 | - | 0.00% | 1 | 581,033 | 0.63% | 0 | - | 0.00% | 0.00 | 7,807,171 | 199,639,276 | 66.90 | 44.36 |
Apr-13 | 83,929,436 | 0 | - | 0.00% | 0 | - | 0.00% | 1 | 581,033 | 0.69% | 0.00 | 7,426,909 | 207,066,186 | 61.91 | 45.34 |
May-13 | 75,835,271 | 1 | 520,552 | 0.68% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 8,010,983 | 215,077,168 | 66.05 | 46.62 |
Jun-13 | 73,720,090 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 2,037,953 | 217,115,121 | 57.77 | 46.04 |
Jul-13 | 68,867,672 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 4,775,505 | 221,890,626 | 54.67 | 46.43 |
Aug-13 | 63,585,806 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 5,209,136 | 227,099,762 | 50.57 | 47.04 |
Sep-13 | 61,509,537 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 2,004,602 | 229,104,364 | 51.54 | 46.62 |
Oct-13 | 61,272,401 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 167,532 | 229,271,896 | 37.34 | 45.61 |
Nov-13 | 57,623,589 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 3,578,205 | 232,850,101 | 32.55 | 45.82 |
Dec-13 | 56,041,889 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 1,512,862 | 234,362,963 | 31.09 | 45.36 |
Jan-14 | 54,500,586 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 1,474,347 | 235,837,310 | 37.40 | 44.93 |
C-3 |
SEMT 2011-2
Original Pool Characteristics
Total Stated Principal Balance | $375,227,254 |
Number of Mortgage Loans | 473 |
Average Stated Principal Balance | $793,292 |
Weighted Average Mortgage Rate | 4.882% |
Weighted Average Remaining Term to Maturity (in Months) | 351 |
Weight Average FICO (by Securitized Balance) | 773 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 60.71% |
Mortgage Rate Range
3.50% - 4.00% | 3.12% |
4.01% - 4.50% | 12.72% |
4.51% - 5.00% | 47.66% |
5.01% - 5.50% | 35.29% |
5.51% - 6.00% | 1.21% |
>6.00% | 0.00% |
Product Type
Fixed Rate 30YR | 100.00% |
Interest Only Loans
Yes | 0.95% |
No | 99.05% |
Geographic Distribution
CA | 53.64% |
NY | 7.20% |
MA | 6.35% |
GA | 3.74% |
TX | 3.05% |
FL | 2.57% |
WA | 2.31% |
NJ | 2.24% |
OR | 1.98% |
AZ | 1.97% |
Other | 14.96% |
Occupancy
Primary | 95.12% |
Second Home | 3.84% |
Investor Property | 1.04% |
Property Type
Single Family | 72.28% |
PUD Detached | 8.09% |
PUD Attached | 7.96% |
Cooperative Unit | 4.26% |
Condo High-Rise | 4.04% |
Condo Low-Rise | 1.72% |
2-4 Family | 1.66% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-4 |
SEMT 2011-2 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Oct-11 | 366,017,512 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 8,725,118 | 8,725,118 | 25.79 | |
Nov-11 | 356,234,340 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 9,305,670 | 18,030,787 | 46.38 | |
Dec-11 | 351,647,249 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,117,991 | 4,117,991 | 22.87 | 32.26 |
Jan-12 | 344,268,889 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,913,341 | 11,031,332 | 21.73 | 29.14 |
Feb-12 | 336,587,797 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 7,220,467 | 18,251,799 | 20.30 | 27.82 |
Mar-12 | 320,815,358 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 15,315,660 | 33,567,459 | 30.72 | 31.34 |
Apr-12 | 311,187,100 | 1 | 1,057,779 | 0.33% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 9,191,839 | 42,759,298 | 33.24 | 31.22 |
May-12 | 297,074,923 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 13,686,476 | 56,445,774 | 39.32 | 32.99 |
Jun-12 | 285,950,712 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 10,714,287 | 67,160,061 | 36.88 | 33.47 |
Jul-12 | 281,331,875 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,216,898 | 71,376,958 | 33.20 | 31.89 |
Aug-12 | 271,344,069 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 9,590,287 | 80,967,246 | 30.40 | 32.22 |
Sep-12 | 257,605,213 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 13,352,593 | 94,319,839 | 34.14 | 33.65 |
Oct-12 | 240,660,034 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 16,576,155 | 110,895,994 | 46.45 | 35.86 |
Nov-12 | 221,883,799 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 18,434,886 | 129,330,880 | 55.29 | 38.43 |
Dec-12 | 212,684,793 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 8,883,510 | 138,214,390 | 53.53 | 38.53 |
Jan-13 | 197,094,563 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 15,285,765 | 153,500,155 | 55.01 | 40.25 |
Feb-13 | 183,177,848 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 13,629,535 | 167,129,690 | 53.55 | 41.60 |
Mar-13 | 168,617,488 | 0 | 0 | 0.00% | 1 | 786,378 | 0.46% | 0 | 0 | 0.00% | 0.00 | 14,296,767 | 181,426,457 | 60.49 | 43.14 |
Apr-13 | 159,084,943 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 1 | 786,378 | 0.49% | 0.00 | 9,289,580 | 190,716,036 | 57.56 | 43.56 |
May-13 | 151,359,418 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 7,495,163 | 198,211,200 | 53.38 | 43.64 |
Jun-13 | 140,208,238 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 10,929,251 | 209,140,451 | 52.19 | 44.60 |
Jul-13 | 135,399,923 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,598,986 | 213,739,437 | 47.52 | 44.15 |
Aug-13 | 128,143,640 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 7,051,285 | 220,790,722 | 48.63 | 44.35 |
Sep-13 | 119,722,246 | 1 | 779,152 | 0.65% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 8,228,013 | 229,018,735 | 46.84 | 44.90 |
Oct-13 | 116,562,189 | 1 | 778,100 | 0.66% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,979,114 | 231,997,849 | 45.08 | 44.26 |
Nov-13 | 112,999,809 | 1 | 777,046 | 0.68% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,385,406 | 235,383,255 | 39.53 | 43.79 |
Dec-13 | 110,574,148 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,252,906 | 237,636,161 | 27.24 | 43.10 |
Jan-14 | 108,977,835 | 0 | 0 | 0.00% | 1 | 775,987 | 0.71% | 0 | 0 | 0.00% | 0.00 | 1,426,249 | 239,062,410 | 23.59 | 42.28 |
C-5 |
SEMT 2012-1
Original Pool Characteristics
Total Stated Principal Balance | $415,728,134 |
Number of Mortgage Loans | 446 |
Average Stated Principal Balance | $932,126 |
Weighted Average Mortgage Rate | 4.549% |
Weighted Average Margin (by Securitized Balance) (HYB only) | 1.783% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 325 |
Weighted Average FICO (by Securitized Balance) | 770 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 62.80% |
Mortgage Rate Range
2.51% - 3.00% | 0.49% |
3.01% - 3.50% | 1.28% |
3.51% - 4.00% | 15.35% |
4.01% - 4.50% | 23.69% |
4.51% - 5.00% | 49.05% |
5.01% - 5.50% | 10.13% |
>5.50% | 0.00% |
Product Type
Fixed Rate 15YR | 16.62% |
Fixed Rate 30YR | 52.88% |
HYB 5/1 | 4.04% |
HYB 7/1 | 3.01% |
HYB 10/1 | 23.45% |
Interest Only Loans
Yes | 22.59% |
No | 77.41% |
Geographic Distribution
CA | 48.57% |
NY | 11.01% |
TX | 10.80% |
IL | 3.98% |
MA | 3.78% |
WA | 2.75% |
CO | 2.73% |
FL | 1.99% |
NJ | 1.42% |
CT | 1.41% |
Other | 11.56% |
Occupancy
Primary | 89.74% |
Second Home | 8.27% |
Investor Property | 1.98% |
Property Type
Single Family | 67.48% |
PUD | 19.30% |
Condominium | 9.40% |
Cooperative Unit | 2.21% |
2-4 Family | 1.61% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.0% |
C-6 |
SEMT 2012-1 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Feb-12 | 412,202,072 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 2,898,763 | 2,898,763 | 9.72 | |
Mar-12 | 407,846,775 | 2 | 1,919,324 | 0.46% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 3,727,240 | 6,626,003 | 20.52 | |
Apr-12 | 400,686,739 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 6,536,645 | 13,162,647 | 13.71 | 19.84 |
May-12 | 395,577,690 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 4,489,730 | 17,652,377 | 15.18 | 18.02 |
Jun-12 | 388,532,426 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 6,426,735 | 24,079,113 | 17.64 | 18.37 |
Jul-12 | 380,446,563 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 7,470,434 | 31,549,546 | 18.73 | 19.17 |
Aug-12 | 370,670,663 | 1 | 880,989 | 0.23% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 9,162,630 | 40,712,177 | 22.91 | 20.50 |
Sep-12 | 362,632,559 | 1 | 1,200,694 | 0.33% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 7,437,314 | 48,149,490 | 24.11 | 20.88 |
Oct-12 | 345,207,634 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 16,832,850 | 64,982,340 | 32.21 | 24.33 |
Nov-12 | 333,324,402 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 11,308,311 | 76,290,651 | 34.61 | 25.51 |
Dec-12 | 317,216,323 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 15,555,215 | 91,845,866 | 41.45 | 27.71 |
Jan-13 | 297,185,541 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 19,505,229 | 111,351,095 | 45.07 | 30.66 |
Feb-13 | 279,076,177 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 17,601,251 | 128,952,346 | 50.86 | 32.87 |
Mar-13 | 263,903,044 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 14,684,604 | 143,636,950 | 52.10 | 34.26 |
Apr-13 | 248,208,835 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 15,229,791 | 158,866,741 | 51.34 | 35.73 |
May-13 | 237,135,171 | 1 | 493,065 | 0.20% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 10,638,321 | 169,505,062 | 47.87 | 36.18 |
Jun-13 | 224,218,554 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 12,484,380 | 181,989,442 | 47.89 | 37.06 |
Jul-13 | 213,227,290 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 10,576,937 | 192,566,379 | 45.54 | 37.58 |
Aug-13 | 203,258,581 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 9,568,333 | 202,134,712 | 46.02 | 37.94 |
Sep-13 | 196,889,693 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 5,978,077 | 208,112,789 | 40.54 | 37.63 |
Oct-13 | 193,641,014 | 0 | - | 0.00% | 0 | - | 0.00% | 0 | - | 0.00% | 0.00 | 2,863,709 | 210,976,498 | 31.98 | 36.77 |
Nov-13 | 187,098,556 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,160,262 | 217,136,760 | 28.21 | 36.63 |
Dec-13 | 185,169,535 | 1 | 603,086 | 0.32% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,560,945 | 218,697,705 | 21.77 | 35.67 |
Jan-14 | 181,668,291 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,132,180 | 221,829,885 | 22.53 | 35.07 |
C-7 |
SEMT 2012-2
Original Pool Characteristics
Total Stated Principal Balance | $327,935,218 |
Number of Mortgage Loans | 366 |
Average Stated Principal Balance | $895,998 |
Weighted Average Mortgage Rate | 4.603% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 325 |
Weighted Average FICO (by Securitized Balance) | 769 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 63.50% |
Mortgage Rate Range
3.51% - 4.00% | 1.66% |
4.01% - 4.50% | 38.97% |
4.51% - 5.00% | 50.05% |
5.01% - 5.50% | 9.23% |
>5.500% | 0.08% |
Product Type
Fixed Rate 30YR | 100.00% |
Interest Only Loans
Yes | 10.02% |
No | 89.98% |
Geographic Distribution
CA | 49.61% |
TX | 11.82% |
NY | 7.95% |
MA | 4.25% |
IL | 3.32% |
NJ | 2.57% |
FL | 2.25% |
OR | 1.92% |
WA | 1.90% |
CO | 1.43% |
Other | 12.99% |
Occupancy
Primary | 92.25% |
Second Home | 5.68% |
Investor Property | 2.07% |
Property Type
Single Family | 69.51% |
PUD Detached | 16.00% |
Condo High-Rise | 4.86% |
PUD Attached | 3.12% |
Cooperative Unit | 3.09% |
2 Family | 1.91% |
Condo Low-Rise | 1.03% |
4 Family | 0.48% |
Documentation
Full Documentation | 100.00% |
C-8 |
SEMT 2012-2 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Apr-12 | 325,097,242 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,447,686 | 2,447,686 | 9.90 | |
May-12 | 322,971,627 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,736,414 | 4,184,100 | 16.72 | |
Jun-12 | 321,388,870 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,192,869 | 5,376,970 | 7.75 | 11.40 |
Jul-12 | 320,630,016 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 367,226 | 5,744,195 | 5.38 | 8.62 |
Aug-12 | 312,209,745 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 8,026,024 | 13,770,219 | 12.68 | 13.71 |
Sep-12 | 304,353,532 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 7,470,724 | 21,240,944 | 19.58 | 16.40 |
Oct-12 | 292,378,792 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 11,594,545 | 32,835,489 | 30.85 | 20.51 |
Nov-12 | 288,923,641 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,090,299 | 35,925,788 | 26.66 | 19.52 |
Dec-12 | 272,346,518 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 16,214,484 | 52,140,272 | 35.88 | 24.32 |
Jan-13 | 257,591,728 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 14,407,439 | 66,547,711 | 39.75 | 27.52 |
Feb-13 | 243,685,056 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 13,574,308 | 80,122,019 | 49.40 | 29.98 |
Mar-13 | 232,666,575 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 10,705,061 | 90,827,080 | 46.73 | 31.23 |
Apr-13 | 220,806,705 | 1 | 590,086 | 0.26% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 11,559,723 | 102,386,804 | 46.01 | 32.67 |
May-13 | 213,644,621 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,878,000 | 109,264,803 | 40.92 | 32.67 |
Jun-13 | 198,805,285 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 14,560,101 | 123,824,905 | 46.69 | 34.88 |
Jul-13 | 192,987,062 | 1 | 587,882 | 0.30% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,554,797 | 129,379,702 | 41.65 | 34.57 |
Aug-13 | 187,015,228 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,712,615 | 135,092,317 | 41.29 | 34.38 |
Sep-13 | 184,125,877 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,634,630 | 137,726,947 | 26.42 | 33.46 |
Oct-13 | 182,701,876 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,171,696 | 138,898,643 | 19.67 | 32.29 |
Nov-13 | 180,611,415 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,838,149 | 140,736,792 | 13.01 | 31.39 |
Dec-13 | 179,973,583 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 386,110 | 141,122,902 | 8.72 | 30.23 |
Jan-14 | 177,908,706 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,812,475 | 142,935,377 | 10.09 | 29.49 |
C-9 |
SEMT 2012-3
Original Pool Characteristics
Total Stated Principal Balance | $293,590,499 |
Number of Mortgage Loans | 331 |
Average Stated Principal Balance | $886,980 |
Weighted Average Mortgage Rate | 4.466% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 360 |
Weighted Average FICO (by Securitized Balance) | 768 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 67.07% |
Mortgage Rate Range
3.51% - 4.00% | 0.77% |
4.01% - 4.50% | 65.47% |
4.51% - 5.00% | 33.56% |
5.01% - 5.50% | 0.19% |
>5.00% | 0.00% |
Product Type
Fixed Rate 30YR | 100.00% |
Interest Only Loans
Yes | 5.17% |
No | 94.83% |
Geographic Distribution
CA | 49.22% |
TX | 12.63% |
NY | 5.31% |
WA | 4.22% |
MA | 3.86% |
CT | 3.45% |
FL | 3.29% |
IL | 2.36% |
MD | 1.56% |
CO | 1.33% |
Other | 12.76% |
Occupancy
Primary | 94.13% |
Second Home | 3.91% |
Investor Property | 1.96% |
Property Type
Single Family | 73.53% |
PUD Detached | 15.93% |
Condo High-Rise | 3.35% |
PUD Attached | 1.44% |
Condo Low-Rise | 2.56% |
2 -4 Family | 2.21% |
Cooperative Unit | 0.99% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-10 |
SEMT 2012-3 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Jul-12 | 291,796,996 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,419,771 | 1,419,771 | 7.09 | |
Aug-12 | 291,349,873 | 3 | 2,549,726 | 0.87% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 73,658 | 1,493,429 | 8.78 | |
Sep-12 | 288,825,060 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,149,690 | 3,643,119 | 6.34 | 9.35 |
Oct-12 | 282,571,860 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,879,394 | 9,522,513 | 12.06 | 14.19 |
Nov-12 | 277,932,075 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,271,266 | 13,793,779 | 17.19 | 15.16 |
Dec-12 | 271,377,172 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,187,002 | 19,980,781 | 22.06 | 17.21 |
Jan-13 | 264,981,268 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,034,762 | 26,015,543 | 22.67 | 18.54 |
Feb-13 | 253,842,050 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 10,784,641 | 36,800,184 | 30.42 | 22.07 |
Mar-13 | 240,658,906 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 12,840,955 | 49,641,139 | 38.15 | 25.79 |
Apr-13 | 231,316,513 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 9,016,499 | 58,657,638 | 41.93 | 27.23 |
May-13 | 217,910,512 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 13,090,703 | 71,748,341 | 45.69 | 30.07 |
Jun-13 | 216,038,247 | 1 | 1,967,562 | 0.90% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,574,224 | 73,322,564 | 35.06 | 28.44 |
Jul-13 | 206,270,725 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 9,470,167 | 82,792,731 | 36.77 | 29.74 |
Aug-13 | 202,871,014 | 1 | 1,471,662 | 0.72% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,111,294 | 85,904,025 | 24.88 | 28.91 |
Sep-13 | 202,549,711 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 35,558 | 85,939,583 | 22.73 | 27.25 |
Oct-13 | 201,465,017 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 797,760 | 86,737,343 | 9.00 | 26.01 |
Nov-13 | 199,110,111 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,067,274 | 88,804,617 | 7.21 | 25.27 |
Dec-13 | 197,938,677 | 1 | 543,838 | 0.27% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 885,218 | 89,689,835 | 8.80 | 24.29 |
Jan-14 | 197,425,377 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 227,024 | 89,916,859 | 7.78 | 23.24 |
C-11 |
SEMT 2012-4
Original Pool Characteristics
Total Stated Principal Balance | $313,225,626 |
Number of Mortgage Loans | 372 |
Average Stated Principal Balance | $842,004 |
Weighted Average Mortgage Rate | 4.355% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 333 |
Weighted Average FICO (by Securitized Balance) | 774 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 66.38% |
Mortgage Rate Range
3.00% - 3.50% | 0.21% |
3.51% - 4.00% | 12.18% |
4.01% - 4.50% | 67.22% |
4.51% - 5.00% | 19.98% |
5.01% - 5.25% | 0.40% |
Product Type
Fixed Rate 30YR | 86.75% |
Fixed Rate 15YR | 12.15% |
Fixed Rate 20YR | 1.09% |
Interest Only Loans
Yes | 6.97% |
No | 93.03% |
Geographic Distribution
CA | 43.19% |
TX | 15.56% |
IL | 5.05% |
MA | 4.75% |
FL | 3.07% |
WA | 3.00% |
NY | 2.93% |
CO | 2.59% |
AZ | 2.31% |
MD | 1.85% |
Other | 15.70% |
Occupancy
Primary | 94.12% |
Second Home | 5.07% |
Investor Property | 0.81% |
Property Type
Single Family | 69.07% |
Planned Unit Development | 20.68% |
Condominium | 7.12% |
Cooperative Unit | 1.95% |
2 -4 Family | 1.17% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-12 |
SEMT 2012-4 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Oct-12 | 311,445,972 | 4 | 4,196,792 | 1.34% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,196,013 | 1,196,013 | 6.61 | |
Nov-12 | 305,746,603 | 2 | 1,320,814 | 0.43% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,186,625 | 6,382,638 | 25.17 | |
Dec-12 | 303,888,849 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,346,252 | 7,728,891 | 11.40 | 16.60 |
Jan-13 | 297,536,045 | 1 | 526,313 | 0.17% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,844,271 | 13,573,162 | 16.70 | 18.58 |
Feb-13 | 292,336,896 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,704,319 | 18,277,481 | 16.42 | 18.70 |
Mar-13 | 274,436,646 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 17,408,392 | 35,685,873 | 33.49 | 27.19 |
Apr-13 | 267,473,577 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,497,496 | 42,183,369 | 34.69 | 27.08 |
May-13 | 260,326,851 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,687,513 | 48,870,882 | 37.12 | 27.18 |
Jun-13 | 249,627,386 | 1 | 745,597 | 0.29% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 10,256,736 | 59,127,618 | 31.55 | 28.85 |
Jul-13 | 245,266,401 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,933,656 | 63,061,274 | 29.30 | 27.83 |
Aug-13 | 236,346,092 | 1 | 520,753 | 0.22% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 8,493,768 | 71,555,042 | 32.06 | 28.68 |
Sep-13 | 231,842,317 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,093,696 | 75,648,738 | 25.60 | 27.98 |
Oct-13 | 229,781,264 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,654,948 | 77,303,686 | 22.96 | 26.64 |
Nov-13 | 227,912,924 | 1 | 1,075,591 | 0.47% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,459,558 | 78,763,244 | 13.53 | 25.44 |
Dec-13 | 226,695,671 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 808,791 | 79,572,035 | 8.59 | 24.20 |
Jan-14 | 223,514,420 | 1 | 975,648 | 0.43% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,771,646 | 82,343,681 | 10.47 | 23.66 |
C-13 |
SEMT 2012-5
Original Pool Characteristics
Total Stated Principal Balance | $320,339,050 |
Number of Mortgage Loans | 390 |
Average Stated Principal Balance | $821,382 |
Weighted Average Mortgage Rate | 4.214% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 357 |
Weighted Average FICO (by Securitized Balance) | 770 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 67.52% |
Mortgage Rate Range
3.51% - 4.00% | 21.08% |
4.01% - 4.50% | 74.13% |
4.51% - 5.00% | 4.06% |
Product Type
Fixed Rate 30YR | 99.40% |
Fixed Rate 20YR | 0.60% |
Interest Only Loans
Yes | 4.89% |
No | 95.11% |
Geographic Distribution
CA | 44.00% |
TX | 13.44% |
WA | 5.84% |
CO | 4.54% |
MA | 4.22% |
NY | 4.03% |
AZ | 2.77% |
CT | 2.61% |
GA | 2.47% |
IL | 2.12% |
Other | 13.96% |
Occupancy
Primary | 94.32% |
Second Home | 4.08% |
Investor Property | 1.60% |
Property Type
Single Family | 63.29% |
Planned Unit Development | 27.49% |
Condominium | 5.10% |
2 -4 Family | 2.68% |
Cooperative Unit | 1.46% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-14 |
SEMT 2012-5 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Nov-12 | 319,640,528 | 1 | 1,247,086 | 0.38% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 268,335 | 268,335 | 2.59 | |
Dec-12 | 319,162,100 | 1 | 710,533 | 0.22% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 46,505 | 314,839 | 4.32 | |
Jan-13 | 316,659,175 | 1 | 557,477 | 0.17% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,069,329 | 2,384,168 | 4.52 | 6.70 |
Feb-13 | 310,719,260 | 1 | 752,793 | 0.24% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,506,734 | 7,890,902 | 10.71 | 11.48 |
Mar-13 | 303,686,310 | 1 | 439,864 | 0.14% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,605,900 | 14,496,802 | 18.03 | 14.80 |
Apr-13 | 301,562,385 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,705,072 | 16,201,874 | 17.75 | 13.49 |
May-13 | 292,650,309 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 8,492,499 | 24,694,373 | 21.31 | 16.54 |
Jun-13 | 287,430,567 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,811,593 | 29,505,967 | 19.75 | 16.96 |
Jul-13 | 285,257,797 | 1 | 437,298 | 0.15% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,769,088 | 31,275,055 | 19.94 | 15.97 |
Aug-13 | 280,863,428 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,992,456 | 35,267,511 | 15.16 | 16.08 |
Sep-13 | 279,056,815 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,409,663 | 36,677,174 | 11.15 | 15.26 |
Oct-13 | 277,937,669 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 722,669 | 37,399,843 | 9.88 | 14.35 |
Nov-13 | 275,353,780 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 707,118 | 38,106,961 | 7.62 | 14.04 |
Dec-13 | 273,971,543 | 2 | 1,176,026 | 0.42% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,517,683 | 39,624,644 | 7.09 | 13.44 |
Jan-14 | 271,899,706 | 2 | 964,663 | 0.35% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,675,158 | 41,299,802 | 6.43 | 13.11 |
C-15 |
SEMT 2012-6
Original Pool Characteristics
Total Stated Principal Balance | $301,462,461 |
Number of Mortgage Loans | 358 |
Average Stated Principal Balance | $842,074 |
Weighted Average Mortgage Rate | 4.079% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 356 |
Weighted Average FICO (by Securitized Balance) | 771 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 66.68% |
Mortgage Rate Range
3.25% - 3.50% | 1.62% |
3.51% - 4.00% | 48.43% |
4.01% - 4.50% | 47.94% |
4.51% - 5.00% | 2.01% |
Product Type
Fixed Rate 30YR | 2.02% |
Fixed Rate 20YR | 97.98% |
Interest Only Loans
Yes | 1.59% |
No | 98.41% |
Geographic Distribution
CA | 44.90% |
TX | 10.74% |
WA | 6.24% |
MA | 5.66% |
CO | 5.44% |
NY | 3.71% |
AZ | 3.01% |
GA | 2.99% |
IL | 1.94% |
VA | 1.66% |
Other | 13.71% |
Occupancy
Primary | 95.07% |
Second Home | 4.12% |
Investor Property | 0.82% |
Property Type
Single Family | 69.24% |
Planned Unit Development | 23.12% |
Condominium | 4.64% |
2 -4 Family | 1.89% |
Cooperative Unit | 1.11% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-16 |
SEMT 2012-6 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Dec-12 | 301,002,659 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 27,500 | 27,500 | 1.82 | |
Jan-13 | 300,522,678 | 3 | 3,861,349 | 1.28% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 46,122 | 73,622 | 3.68 | |
Feb-13 | 299,325,481 | 1 | 673,095 | 0.22% | 0 | 0 | 0.00% | 1 | 489,866 | 0.16% | 0.00 | 761,714 | 835,336 | 2.81 | 4.18 |
Mar-13 | 294,007,895 | 1 | 996,123 | 0.33% | 0 | 0 | 0.00% | 1 | 489,150 | 0.16% | 0.00 | 4,880,728 | 5,716,064 | 8.98 | 9.53 |
Apr-13 | 289,858,197 | 2 | 1,858,486 | 0.64% | 0 | 0 | 0.00% | 1 | 488,432 | 0.16% | 0.00 | 3,717,850 | 9,433,914 | 13.46 | 11.11 |
May-13 | 283,437,191 | 1 | 1,268,934 | 0.44% | 0 | 0 | 0.00% | 1 | 487,711 | 0.17% | 0.00 | 5,992,845 | 15,426,760 | 19.60 | 13.75 |
Jun-13 | 276,698,421 | 1 | 487,774 | 0.17% | 0 | 0 | 0.00% | 1 | 486,988 | 0.17% | 0.00 | 6,317,513 | 21,744,273 | 21.55 | 15.75 |
Jul-13 | 274,933,635 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 1 | 486,262 | 0.17% | 0.00 | 1,350,636 | 23,094,909 | 19.06 | 14.61 |
Aug-13 | 274,248,331 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 1 | 485,534 | 0.17% | 0.00 | 271,402 | 23,366,311 | 12.35 | 13.23 |
Sep-13 | 271,872,516 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 1 | 484,804 | 0.17% | 0.00 | 1,959,620 | 25,325,931 | 6.80 | 12.87 |
Oct-13 | 271,426,184 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 31,643 | 25,357,574 | 5.01 | 11.83 |
Nov-13 | 267,310,958 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 1 | 483,336 | 0.18% | 0.00 | 2,017,828 | 27,375,402 | 9.74 | 12.29 |
Dec-13 | 266,240,684 | 1 | 620,831 | 0.23% | 0 | 0 | 0.00% | 1 | 482,598 | 0.18% | 0.00 | 657,842 | 28,033,244 | 8.03 | 11.68 |
Jan-14 | 264,200,362 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,627,326 | 29,660,570 | 7.97 | 11.47 |
C-17 |
SEMT 2013-1
Original Pool Characteristics
Total Stated Principal Balance | $397,887,279 |
Number of Mortgage Loans | 511 |
Average Stated Principal Balance | $778,632 |
Weighted Average Mortgage Rate | 3.988% |
Weighted Average Margin (by Securitized Balance) HYB only | 2.181% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 317 |
Weighted Average FICO (by Securitized Balance) | 769 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 66.61% |
Mortgage Rate Range
2.51% - 3.00% | 1.16% |
3.01% - 3.50% | 9.72% |
3.51% - 4.00% | 46.36% |
4.01% - 4.50% | 38.97% |
4.51% - 5.00% | 3.79% |
Product Type
Fixed Rate 10YR | 0.99% |
Fixed Rate 15YR | 19.09% |
Fixed Rate 20YR | 0.19% |
Fixed Rate 30YR | 58.69% |
HYB 5/1 | 3.26% |
HYB 7/1 | 0.25% |
HYB 10/1 | 17.52% |
Interest Only Loans
Yes | 5.03% |
No | 94.97% |
Geographic Distribution
CA | 42.90% |
TX | 13.23% |
MA | 9.63% |
FL | 7.29% |
WA | 3.93% |
IL | 3.32% |
CO | 2.88% |
VA | 1.43% |
NY | 1.30% |
CT | 1.20% |
Other | 12.89% |
Occupancy
Primary | 94.89% |
Second Home | 4.45% |
Investor Property | 0.65% |
Property Type
Single Family | 69.99% |
PUD | 25.28% |
Condominium | 3.62% |
Cooperative Unit | 0.62% |
2-4 Family | 0.49% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-18 |
SEMT 2013-1 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Feb-13 | 378,889,887 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 14,901,058 | 14,901,058 | 44.39 | |
Mar-13 | 369,972,943 | 3 | 2,673,697 | 0.72% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 8,121,392 | 23,022,450 | 58.22 | |
Apr-13 | 358,105,842 | 1 | 989,795 | 0.27% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 11,085,205 | 34,107,655 | 34.38 | 46.84 |
May-13 | 346,607,134 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 10,736,170 | 44,843,825 | 29.97 | 42.41 |
Jun-13 | 340,134,470 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,734,705 | 50,578,530 | 28.56 | 37.53 |
Jul-13 | 333,718,760 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,688,621 | 56,267,151 | 24.58 | 34.43 |
Aug-13 | 325,369,986 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 7,635,696 | 63,902,847 | 22.35 | 33.13 |
Sep-13 | 321,013,646 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,658,094 | 67,560,941 | 20.66 | 30.79 |
Oct-13 | 320,113,892 | 1 | 636,888 | 0.19% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 210,593 | 67,771,534 | 15.34 | 27.84 |
Nov-13 | 317,448,920 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,969,649 | 69,741,183 | 9.39 | 26.00 |
Dec-13 | 314,395,239 | 1 | 886,252 | 0.28% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,358,939 | 72,100,122 | 8.00 | 24.62 |
Jan-14 | 312,954,975 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 750,133 | 72,850,255 | 8.65 | 23.04 |
C-19 |
SEMT 2013-2
Original Pool Characteristics
Total Stated Principal Balance | $666,125,405 |
Number of Mortgage Loans | 777 |
Average Stated Principal Balance | $857,304 |
Weighted Average Mortgage Rate | 3.947% |
Weighted Average Margin (by Securitized Balance) | NA |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 353 |
Weighted Average FICO (by Securitized Balance) | 776 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 63.06% |
Mortgage Rate Range
2.51% - 3.00% | 0.09% |
3.01% - 3.50% | 4.01% |
3.51% - 4.00% | 64.49% |
4.01% - 4.50% | 29.53% |
4.51% - 5.00% | 1.88% |
Product Type
Fixed Rate 15YR | 1.56% |
Fixed Rate 20YR | 0.36% |
Fixed Rate 25YR | 0.11% |
Fixed Rate 30YR | 97.97% |
Interest Only Loans
Yes | 8.30% |
No | 91.70% |
Geographic Distribution
CA | 48.84% |
MA | 16.64% |
TX | 5.67% |
WA | 5.42% |
CO | 2.29% |
CT | 2.28% |
IL | 1.87% |
VA | 1.69% |
FL | 1.34% |
MD | 1.06% |
Other | 12.9% |
Occupancy
Primary | 92.45% |
Second Home | 5.23% |
Investor Property | 2.32% |
Property Type
Single Family | 69.60% |
PUD | 16.14% |
Condominium | 8.28% |
2-4 Family | 3.62% |
Cooperative Unit | 2.07% |
Townhouse | 0.29% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.0% |
C-20 |
SEMT 2013-2 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Feb-13 | 659,118,591 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,066,982 | 6,066,982 | 11.92 | |
Mar-13 | 652,112,661 | 6 | 4,157,634 | 0.63% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 6,067,879 | 12,134,860 | 22.52 | |
Apr-13 | 644,154,412 | 2 | 1,588,481 | 0.24% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 7,027,654 | 19,162,514 | 12.55 | 18.23 |
May-13 | 642,287,742 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 941,963 | 20,104,477 | 9.83 | 13.56 |
Jun-13 | 633,832,690 | 2 | 2,278,925 | 0.35% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 7,527,524 | 27,632,001 | 10.75 | 13.85 |
Jul-13 | 623,050,541 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 9,864,459 | 37,496,460 | 12.47 | 14.82 |
Aug-13 | 617,404,992 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,737,888 | 42,234,348 | 14.62 | 14.09 |
Sep-13 | 614,165,035 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,337,626 | 44,571,974 | 11.85 | 13.00 |
Oct-13 | 613,181,078 | 1 | 652,133 | 0.10% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 82,484 | 44,654,458 | 6.19 | 11.68 |
Nov-13 | 606,519,410 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 5,756,971 | 50,411,429 | 6.87 | 11.75 |
Dec-13 | 601,431,086 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,554,978 | 53,966,407 | 8.04 | 11.54 |
Jan-14 | 599,399,890 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,131,520 | 55,097,927 | 8.69 | 10.88 |
C-21 |
SEMT 2013-3
Original Pool Characteristics
Total Stated Principal Balance | $600,210,241 |
Number of Mortgage Loans | 746 |
Average Stated Principal Balance | $804,571 |
Weighted Average Mortgage Rate | 3.819% |
Weighted Average Margin (by Securitized Balance) | NA |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 358 |
Weighted Average FICO (by Securitized Balance) | 772 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 65.27% |
Mortgage Rate Range
3.01% - 3.50% | 10.70% |
3.51% - 4.00% | 78.55% |
4.01% - 4.50% | 10.47% |
4.51% - 5.00% | 0.28% |
Product Type
Fixed Rate 20YR | 0.37% |
Fixed Rate 30YR | 99.63% |
Interest Only Loans
Yes | 2.36% |
No | 97.64% |
Geographic Distribution
CA | 43.15% |
MA | 10.52% |
TX | 6.32% |
WA | 5.02% |
NY | 4.19% |
VA | 3.76% |
CO | 3.74% |
MD | 3.25% |
IL | 3.11% |
CT | 2.74% |
Other | 14.20% |
Occupancy
Primary | 95.81% |
Second Home | 3.72% |
Investor Property | 0.47% |
Property Type
Single Family | 72.02% |
PUD | 22.09% |
Condominium | 4.50% |
Cooperative Unit | 0.74% |
2-4 Family | 0.64% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.0% |
C-22 |
SEMT 2013-3 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Mar-13 | 598,823,974 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 504,820 | 504,820 | 2.74 | |
Apr-13 | 596,676,385 | 5 | 3,772,438 | 0.63% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,261,740 | 1,766,560 | 6.84 | |
May-13 | 593,172,668 | 1 | 497,527 | 0.08% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,616,355 | 4,382,915 | 4.61 | 6.83 |
Jun-13 | 587,303,182 | 2 | 2,124,533 | 0.36% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 4,982,521 | 9,365,436 | 7.48 | 8.33 |
Jul-13 | 583,163,898 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,255,702 | 12,621,138 | 8.76 | 8.28 |
Aug-13 | 580,119,463 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,162,501 | 14,783,639 | 8.52 | 7.85 |
Sep-13 | 575,448,167 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,789,265 | 18,572,904 | 7.83 | 8.08 |
Oct-13 | 571,029,034 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,539,831 | 22,112,735 | 8.07 | 8.19 |
Nov-13 | 568,016,035 | 1 | 712,900 | 0.12% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,133,878 | 24,246,613 | 8.09 | 7.94 |
Dec-13 | 564,384,775 | 2 | 1,530,895 | 0.27% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,498,739 | 25,745,352 | 7.47 | 7.88 |
Jan-14 | 562,280,376 | 1 | 710,715 | 0.12% | 1 | 819,086 | 0.14% | 0 | 0 | 0.00% | 0.00 | 1,227,140 | 26,972,492 | 5.99 | 7.53 |
C-23 |
SEMT 2013-4
Original Pool Characteristics
Total Stated Principal Balance | $576,435,465 |
Number of Mortgage Loans | 716 |
Average Stated Principal Balance | $805,077 |
Weighted Average Mortgage Rate | 3.783% |
Weighted Average Margin (by Securitized Balance) | NA |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 357 |
Weighted Average FICO (by Securitized Balance) | 773 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 63.77% |
Mortgage Rate Range
3.01% - 3.50% | 11.63% |
3.51% - 4.00% | 81.04% |
4.01% - 4.50% | 7.33% |
Product Type
Fixed Rate 20YR | 1.28% |
Fixed Rate 25YR | 0.14% |
Fixed Rate 30YR | 98.58% |
Interest Only Loans
Yes | 2.21% |
No | 97.79% |
Geographic Distribution
CA | 42.13% |
MA | 9.74% |
WA | 7.19% |
TX | 5.54% |
NY | 5.32% |
IL | 4.46% |
VA | 3.59% |
CO | 3.41% |
MD | 2.73% |
CT | 2.55% |
Other | 13.34% |
Occupancy
Primary | 98.00% |
Second Home | 2.92% |
Investor Property | 1.09% |
Property Type
Single Family | 71.06% |
PUD | 22.35% |
Condominium | 4.49% |
Cooperative Unit | 1.21% |
2-4 Family | 0.72% |
Townhouse | 0.18% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.0% |
C-24 |
SEMT 2013-4 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Apr-13 | 575,244,709 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 330,605 | 330,605 | 2.45 | |
May-13 | 574,017,847 | 3 | 2,559,731 | 0.44% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 362,996 | 693,601 | 4.92 | |
Jun-13 | 572,858,722 | 2 | 1,608,994 | 0.28% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 291,375 | 984,975 | 2.46 | 3.67 |
Jul-13 | 569,817,098 | 2 | 1,518,088 | 0.26% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,170,174 | 3,155,149 | 3.72 | 4.51 |
Aug-13 | 565,337,910 | 3 | 2,549,230 | 0.45% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,606,682 | 6,761,831 | 5.91 | 5.67 |
Sep-13 | 561,851,967 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,614,535 | 9,376,366 | 7.47 | 5.96 |
Oct-13 | 559,303,396 | 1 | 791,670 | 0.14% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,678,195 | 11,054,561 | 7.18 | 5.86 |
Nov-13 | 558,342,176 | 1 | 900,524 | 0.16% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 89,587 | 11,144,148 | 4.86 | 5.32 |
Dec-13 | 556,598,345 | 2 | 1,918,586 | 0.34% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 869,173 | 12,013,321 | 3.69 | 5.12 |
Jan-14 | 553,808,539 | 2 | 1,763,017 | 0.31% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,913,434 | 13,926,755 | 3.87 | 5.20 |
C-25 |
SEMT 2013-5
Original Pool Characteristics
Total Stated Principal Balance | $463,344,441 |
Number of Mortgage Loans | 609 |
Average Stated Principal Balance | $760,828 |
Weighted Average Mortgage Rate | 3.811% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 359 |
Weighted Average FICO (by Securitized Balance) | 772 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 64.85% |
Mortgage Rate Range
3.01% - 3.50% | 7.69% |
3.51% - 4.00% | 84.74% |
4.01% - 4.50% | 7.41% |
4.51% - 5.00% | 0.15% |
Product Type
Fixed Rate 30YR | 100.00% |
Interest Only Loans
Yes | 0.00% |
No | 100.00% |
Geographic Distribution
CA | 37.55% |
WA | 7.80% |
MA | 7.61% |
TX | 7.10% |
IL | 5.05% |
VA | 5.01% |
MD | 3.94% |
CO | 3.64% |
NY | 3.18% |
AZ | 3.11% |
Other | 16.01% |
Occupancy
Primary | 96.09% |
Second Home | 3.74% |
Investor Property | 0.17% |
Property Type
Single Family | 69.79% |
PUD | 25.03% |
Condominium | 3.91% |
2-4 Family | 0.74% |
Cooperative Unit | 0.54% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-26 |
SEMT 2013-5 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
May-13 | 462,054,503 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 595,087 | 595,087 | 3.29 | |
Jun-13 | 460,663,246 | 2 | 2,864,896 | 0.62% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 694,495 | 1,289,582 | 6.73 | |
Jul-13 | 459,121,679 | 4 | 2,973,887 | 0.64% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 843,265 | 2,132,846 | 3.60 | 5.35 |
Aug-13 | 455,491,950 | 1 | 894,227 | 0.19% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,929,762 | 5,062,608 | 5.56 | 6.61 |
Sep-13 | 454,005,471 | 2 | 1,268,165 | 0.27% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 788,479 | 5,851,087 | 5.66 | 5.93 |
Oct-13 | 453,258,077 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 47,999 | 5,899,086 | 5.01 | 5.15 |
Nov-13 | 450,635,179 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,921,138 | 7,820,224 | 4.20 | 5.41 |
Dec-13 | 448,889,930 | 1 | 718,044 | 0.15% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,042,178 | 8,862,402 | 4.43 | 5.29 |
Jan-14 | 448,134,835 | 1 | 641,270 | 0.14% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 51,023 | 8,913,425 | 4.45 | 4.88 |
C-27 |
SEMT 2013-6
Original Pool Characteristics
Total Stated Principal Balance | $424,966,578 |
Number of Mortgage Loans | 545 |
Average Stated Principal Balance | $779,755 |
Weighted Average Mortgage Rate | 3.812% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 359 |
Weighted Average FICO (by Securitized Balance) | 771 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 64.62% |
Mortgage Rate Range
3.01% - 3.50% | 7.98% |
3.51% - 4.00% | 84.80% |
4.01% - 4.50% | 7.01% |
4.51% - 5.00% | 0.20% |
Product Type
Fixed Rate 25YR | 0.15% |
Fixed Rate 30YR | 99.85% |
Interest Only Loans
Yes | 0.00% |
No | 100.00% |
Geographic Distribution
CA | 37.10% |
MA | 10.16% |
TX | 6.81% |
WA | 6.22% |
VA | 5.30% |
MD | 4.31% |
IL | 4.19% |
NY | 4.17% |
AZ | 2.56% |
CT | 2.40% |
Other | 16.78% |
Occupancy
Primary | 96.82% |
Second Home | 3.18% |
Property Type
Single Family | 69.18% |
PUD | 25.06% |
Condominium | 4.00% |
Cooperative Unit | 1.61% |
2-4 Family | 0.15% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-28 |
SEMT 2013-6 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
May-13 | 424,213,088 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 118,504 | 118,504 | 2.11 | |
Jun-13 | 422,782,365 | 2 | 1,601,000 | 0.37% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 793,351 | 911,855 | 6.00 | |
Jul-13 | 421,501,363 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 642,343 | 1,554,198 | 3.22 | 4.79 |
Aug-13 | 419,886,976 | 1 | 1,076,742 | 0.25% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 973,835 | 2,528,033 | 4.02 | 4.70 |
Sep-13 | 419,112,621 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 132,880 | 2,660,913 | 3.43 | 4.08 |
Oct-13 | 417,694,827 | 1 | 1,333,059 | 0.31% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 773,868 | 3,434,781 | 3.56 | 4.06 |
Nov-13 | 416,448,546 | 1 | 1,446,951 | 0.34% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 87,806 | 3,522,587 | 3.24 | 3.97 |
Dec-13 | 414,155,571 | 1 | 873,603 | 0.21% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,156,899 | 5,679,486 | 4.65 | 4.32 |
Jan-14 | 411,163,874 | 1 | 982,905 | 0.23% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,345,139 | 8,024,625 | 5.65 | 4.83 |
C-29 |
SEMT 2013-7
Original Pool Characteristics
Total Stated Principal Balance | $453,588,656 |
Number of Mortgage Loans | 595 |
Average Stated Principal Balance | $762,334 |
Weighted Average Mortgage Rate | 3.834% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 358 |
Weighted Average FICO (by Securitized Balance) | 770 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 66.03% |
Mortgage Rate Range
3.01% - 3.50% | 7.44% |
3.51% - 4.00% | 84.88% |
4.01% - 4.50% | 7.48% |
4.51% - 5.00% | 0.20% |
Product Type
Fixed Rate 20YR | 1.22% |
Fixed Rate 30YR | 98.78% |
Interest Only Loans
Yes | 0.81% |
No | 99.19% |
Geographic Distribution
CA | 41.81% |
TX | 9.80% |
MA | 5.47% |
IL | 5.09% |
VA | 5.05% |
WA | 4.75% |
CO | 3.40% |
NY | 2.84% |
FL | 2.54% |
AZ | 1.88% |
Other | 17.37% |
Occupancy
Primary | 96.24% |
Second Home | 3.56% |
Investor Property | 0.20% |
Property Type
Single Family | 70.37% |
PUD | 25.28% |
Condominium | 2.17% |
2-4 Family | 1.56% |
Cooperative Unit | 0.47% |
Townhouse | 0.15% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-30 |
SEMT 2013-7 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Jun-13 | 452,666,944 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 243,223 | 243,223 | 2.41 | |
Jul-13 | 450,592,803 | 4 | 2,568,194 | 0.56% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,392,761 | 1,635,984 | 7.64 | |
Aug-13 | 448,403,496 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,507,303 | 3,143,287 | 4.49 | 6.67 |
Sep-13 | 446,916,603 | 1 | 587,013 | 0.13% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 803,063 | 3,946,350 | 4.99 | 5.76 |
Oct-13 | 445,206,469 | 1 | 652,048 | 0.14% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,024,944 | 4,971,294 | 4.70 | 5.44 |
Nov-13 | 444,453,919 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 66,497 | 5,037,791 | 3.48 | 4.77 |
Dec-13 | 442,840,289 | 2 | 1,024,786 | 0.23% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 925,182 | 5,962,973 | 3.60 | 4.68 |
Jan-14 | 441,424,013 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 726,178 | 6,689,151 | 3.36 | 4.55 |
C-31 |
SEMT 2013-8
Original Pool Characteristics
Total Stated Principal Balance | $460,158,464 |
Number of Mortgage Loans | 603 |
Average Stated Principal Balance | $763,115 |
Weighted Average Mortgage Rate | 3.835% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 357 |
Weighted Average FICO (by Securitized Balance) | 771 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 66.86% |
Mortgage Rate Range
2.51% - 3.00% | 0.36% |
3.01% - 3.50% | 7.42% |
3.51% - 4.00% | 83.86% |
4.01% - 4.50% | 8.37% |
Product Type
Fixed Rate 15YR | 0.67% |
Fixed Rate 20YR | 0.61% |
Fixed Rate 25YR | 0.14% |
Fixed Rate 30YR | 98.59% |
Interest Only Loans
Yes | 0.00% |
No | 100.00% |
Geographic Distribution
CA | 41.69% |
TX | 7.34% |
MA | 7.04% |
VA | 5.92% |
WA | 4.83% |
MD | 4.78% |
IL | 4.38% |
CO | 3.77% |
GA | 3.08% |
AZ | 2.40% |
Other | 14.77% |
Occupancy
Primary | 96.80% |
Second Home | 3.10% |
Investor Property | 0.10% |
Property Type
Single Family | 66.63% |
PUD | 27.72% |
Condominium | 4.19% |
Cooperative Unit | 0.54% |
2-4 Family | 0.68% |
Townhouse | 0.23% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-32 |
SEMT 2013-8 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Jul-13 | 458,687,958 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 767,795 | 767,795 | 3.77 | |
Aug-13 | 456,457,508 | 5 | 4,093,090 | 0.89% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,528,384 | 2,296,179 | 9.24 | |
Sep-13 | 453,096,205 | 0 | 0 | 0.00% | 1 | 664,084 | 0.14% | 0 | 0 | 0.00% | 0.00 | 2,657,509 | 4,953,688 | 6.00 | 8.86 |
Oct-13 | 451,707,984 | 5 | 4,620,070 | 1.02% | 0 | 0 | 0.00% | 1 | 664,084 | 0.14% | 0.00 | 685,128 | 5,638,816 | 5.95 | 7.15 |
Nov-13 | 449,798,327 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 545,455 | 6,184,271 | 5.71 | 6.60 |
Dec-13 | 445,644,235 | 1 | 714,544 | 0.16% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,448,195 | 9,632,466 | 6.42 | 7.40 |
Jan-14 | 443,102,261 | 3 | 2,313,563 | 0.52% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,838,616 | 11,471,082 | 7.41 | 7.28 |
C-33 |
SEMT 2013-9
Original Pool Characteristics
Total Stated Principal Balance | $462,610,260 |
Number of Mortgage Loans | 606 |
Average Stated Principal Balance | $765,033 |
Weighted Average Mortgage Rate | 3.881% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 359 |
Weighted Average FICO (by Securitized Balance) | 771 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 67.58% |
Mortgage Rate Range
3.01% - 3.50% | 5.15% |
3.51% - 4.00% | 78.78% |
4.01% - 4.50% | 15.66% |
4.51% - 5.00% | 0.41% |
Product Type
Fixed Rate 30YR | 100.00% |
Interest Only Loans
Yes | 0.00% |
No | 100.00% |
Geographic Distribution
CA | 40.84% |
TX | 7.58% |
MA | 6.34% |
VA | 5.72% |
IL | 5.39% |
CO | 4.35% |
WA | 4.12% |
MD | 3.89% |
GA | 3.20% |
FL | 2.39% |
Other | 16.18% |
Occupancy
Primary | 94.84% |
Second Home | 5.16% |
Investor Property | NA |
Property Type
Single Family | 66.32% |
PUD | 27.86% |
Condominium | 4.44% |
Cooperative Unit | 1.00% |
2-4 Family | 0.37% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-34 |
SEMT 2013-9 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Jul-13 | 462,835,561 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 83,304 | 83,304 | 1.99 | |
Aug-13 | 461,971,869 | 1 | 1,106,250 | 0.23% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 173,213 | 173,213 | 4.16 | |
Sep-13 | 460,638,856 | 1 | 997,114 | 0.21% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 637,967 | 637,967 | 2.54 | 3.78 |
Oct-13 | 459,181,835 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 759,348 | 759,348 | 3.12 | 3.77 |
Nov-13 | 456,469,215 | 1 | 498,797 | 0.10% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,013,298 | 3,667,130 | 4.68 | 4.55 |
Dec-13 | 453,833,401 | 1 | 476,670 | 0.10% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,936,971 | 5,604,101 | 5.78 | 4.99 |
Jan-14 | 452,867,207 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 270,014 | 5,874,115 | 5.39 | 4.58 |
C-35 |
SEMT 2013-10
Original Pool Characteristics
Total Stated Principal Balance | $400,671,564.40 |
Number of Mortgage Loans | 529 |
Average Stated Principal Balance | $757,413.17 |
Weighted Average Mortgage Rate | 3.872% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 359 |
Weighted Average FICO (by Securitized Balance) | 774 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 67.17% |
Mortgage Rate Range
3.01% - 3.250% | 0.84% |
3.251% - 3.500% | 5.18% |
3.501% - 3.750% | 28.80% |
3.751% - 4.000% | 51.38% |
4.001% - 4.250% | 10.78% |
4.251% - 4.500% | 3.02% |
Product Type
Fixed Rate 30YR | 99.62% |
Fixed Rate 20YR | 0.38% |
Interest Only Loans
Yes | 0.00% |
No | 100.00% |
Geographic Distribution
CA | 40.93% |
TX | 9.44% |
VA | 6.66% |
WA | 6.48% |
NY | 5.43% |
MD | 3.71% |
GA | 3.69% |
MA | 3.45% |
CO | 2.99% |
FL | 2.56% |
Other | 14.66% |
Occupancy
Primary | 95.20% |
Second Home | 4.80% |
Property Type
Single Family | 65.70% |
PUD | 28.70% |
Condominium | 2.51% |
Cooperative Unit | 0.90% |
2-4 Family | 0.45% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-36 |
SEMT 2013-10 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Aug-13 | 399,317,378 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 757,314 | 757,314 | 3.98 | |
Sep-13 | 395,749,239 | 2 | 1,624,818 | 0.41% | 1 | 693,712 | 0.17% | 0 | 0 | 0.00% | 0.00 | 2,970,221 | 2,970,221 | 13.79 | |
Oct-13 | 390,588,694 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 198,889 | 198,889 | 9.69 | 14.18 |
Nov-13 | 390,861,286 | 1 | 991,680 | 0.25% | 0 | 0 | 0.00% | 1 | 518,163 | 0.13% | 0.00 | 1,723,543 | 5,649,967 | 8.21 | 9.44 |
Dec-13 | 390,361,600 | 1 | 695,855 | 0.17% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,661,309 | 7,311,276 | 5.34 | 7.52 |
Jan-14 | 388,751,545 | 2 | 1,457,226 | 0.37% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,007,507 | 8,318,783 | 1.87 | 6.99 |
C-37 |
SEMT 2013-11
Original Pool Characteristics
Total Stated Principal Balance | $346,322,235.83 |
Number of Mortgage Loans | 453 |
Average Stated Principal Balance | $764,508.25 |
Weighted Average Mortgage Rate | 4.01% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 357 |
Weighted Average FICO (by Securitized Balance) | 773 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 70.02% |
Mortgage Rate Range
3.01% - 3.50% | 0.15% |
3.51% - 4.00% | 69.43% |
4.01% - 4.50% | 26.99% |
4.51% - 5.00% | 2.69% |
5.01% - 5.50% | 0.74% |
Product Type
Fixed Rate 30YR | 99.85% |
Fixed Rate 20YR | 0.15% |
Interest Only Loans
Yes | 0.00% |
No | 100.00% |
Geographic Distribution
CA | 46.87% |
IL | 7.56% |
MA | 7.05% |
VA | 5.01% |
CO | 4.34% |
TX | 3.00% |
MD | 3.00% |
GA | 2.98% |
NY | 2.93% |
WA | 2.59% |
Other | 14.66% |
Occupancy
Primary | 96.11% |
Second Home | 3.89% |
Property Type
Single Family Det | 66.29% |
Single Family Att | 1.14% |
PUD | 26.33% |
Condominium | 3.72% |
Cooperative Unit | 0.41% |
2-4 Family | 2.11% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-38 |
SEMT 2013-11 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Sep-13 | 345,785,449 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 33,602 | 33,602 | 1.84 | |
Oct-13 | 344,841,067 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 438,188 | 438,188 | 5.01 | |
Nov-13 | 343,148,879 | 1 | 518,467 | 0.15% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,184,143 | 1,655,933 | 3.62 | 5.37 |
Dec-13 | 340,366,343 | 4 | 2,804,476 | 0.82% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,272,928 | 3,928,861 | 6.12 | 6.70 |
Jan-14 | 338,417,822 | 2 | 1,818,279 | 0.53% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 1,439,426 | 5,368,287 | 7.25 | 6.69 |
C-39 |
SEMT 2013-12
Original Pool Characteristics
Total Stated Principal Balance | $324,984,227 |
Number of Mortgage Loans | 410 |
Average Stated Principal Balance | $792,644 |
Weighted Average Mortgage Rate | 4.686% |
Weighted Average Remaining Term to Maturity (in Months by Securitized Balance) | 358 |
Weighted Average FICO (by Securitized Balance) | 766 |
Weighted Average Loan-to-Value Ratio (by Original Balance) | 69.83% |
Mortgage Rate Range
3.501% - 3.750% | 4.02% |
3.751% - 4.000% | 8.69% |
4.001% - 4.250% | 9.09% |
4.251% - 4.500% | 15.06% |
4.501% - 4.750% | 18.65% |
4.751% - 5.000% | 21.76% |
5.001% - 5.250% | 13.93% |
5.251% - 5.500% | 6.17% |
5.501% - 5.750% | 2.05% |
5.751% - 6.000% | 0.59% |
Product Type
Fixed Rate 30YR | 100.00% |
Interest Only Loans
Yes | 1.75% |
No | 98.25% |
Geographic Distribution
CA | 39.96% |
TX | 7.75% |
NY | 7.11% |
MA | 4.61% |
WA | 4.56% |
VA | 4.24% |
CO | 3.37% |
AZ | 2.85% |
MD | 2.41% |
FL | 2.07% |
Other | 21.07% |
Occupancy
Primary | 91.76% |
Second Home | 6.14% |
Investment Property | 2.10% |
Property Type
Single Family Det | 61.44% |
Single Family Att | 1.03% |
PUD | 25.02% |
Condominium | 8.21% |
Cooperative Unit | 1.76% |
2-4 Family | 2.53% |
Documentation
Full Documentation | 100.00% |
Less than Full | 0.00% |
C-40 |
SEMT 2013-12 | Ending Balance $ | 30 Day Delq # | 30 Day Delq Balance $ | 30 Day Delq Balance % | 60 Day Delq # | 60 Day Delq Balance $ | 60 Day Delq Balance % | 90+ Day Delq # | 90+ Day Delq Balance $ | 90+ Day Delq Balance % | Cumulative Loss Amount $ | Prepayment Amount $ | Cumulative Prepayment Amount $ | 3 Month CPR | Cumulative CPR |
Dec-13 | 321,988,340 | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 2,579,300 | 2,579,300 | 10.52 | |
Jan-14 | 317,860,871 | 2 | 1,682,789 | 0.52% | 0 | 0 | 0.00% | 0 | 0 | 0.00% | 0.00 | 3,711,181 | 6,290,481 | 23.35 |
C-41 |
EXHIBIT A – JANUARY 2014 MONTHLY REPORT
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
CONTACT INFORMATION | |
Depositor | Sequoia Residential Funding, Inc. |
One Belvedere Place | |
Suite 330 | |
Mill Valley, CA 94941 | |
Trustee | Christiana Trust |
500 Delaware Avenue | |
11th Floor | |
Wilmington, Delaware 19801 | |
Master Servicer | Wells Fargo Bank, N.A. |
9062 Old Annapolis Road | |
Columbia, MD 21045 |
CONTENTS | |
Distribution Summary | 2 |
Distribution Summary (Factors) | 3 |
Interest Distribution | 4 |
Principal Distribution | 5 |
Reconciliation Detail | 6 |
Collateral Summary | 7 |
Stratification Detail | 8 |
Delinquency Information | 9 |
Standard Prepayment and Default Information | 11 |
Distribution Waterfall Detail | 12 |
Other Information | 13 |
Loan Level Detail | 14 |
Deal Contact: | Karen Schluter | Citibank, N.A. |
karen.schluter@citi.com | Agency and Trust | |
Tel: (212) 816-5827 | 388 Greenwich Street, 14th Floor | |
Fax: (212) 816-5527 | New York City, NY 10013 |
Reports Available at www.sf.citidirect.com | Page 1 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Distribution Summary
DISTRIBUTION IN DOLLARS
Prior | Pass- | Current | ||||||||||||||||||||||||||||||||||||||||||||
Original | Principal | Through | Accrual | Accrual | Interest | Principal | Total | Deferred | Realized | Principal | ||||||||||||||||||||||||||||||||||||
Class | Balance | Balance | Rate | Day Count | Dates | Distributed | Distributed | Distributed | Interest | Loss | Balance | |||||||||||||||||||||||||||||||||||
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9)=(7+8) | (10) | (11) | (12)=(3-8+10-11) | |||||||||||||||||||||||||||||||||||
A-1 | 140,105,000.00 | 122,697,727.44 | 2.500000 | % | 30 / 360 | 12/01 - 12/31 | 255,620.27 | 1,003,996.21 | 1,259,616.48 | 0.00 | 0.00 | 121,693,731.23 | ||||||||||||||||||||||||||||||||||
A-2 | 140,104,000.00 | 122,696,851.68 | 1.808000 | % | 30 / 360 | 12/01 - 12/31 | 184,863.26 | 1,003,989.04 | 1,188,852.30 | 0.00 | 0.00 | 121,692,862.64 | ||||||||||||||||||||||||||||||||||
B-1 | 7,989,000.00 | 7,809,081.29 | 3.788268 | % | 30 / 360 | 12/01 - 12/31 | 24,652.41 | 14,282.20 | 38,934.61 | 0.00 | 0.00 | 7,794,799.09 | ||||||||||||||||||||||||||||||||||
B-2 | 4,220,000.00 | 4,124,962.20 | 3.788268 | % | 30 / 360 | 12/01 - 12/31 | 13,022.05 | 7,544.23 | 20,566.28 | 0.00 | 0.00 | 4,117,417.97 | ||||||||||||||||||||||||||||||||||
B-3 | 3,467,000.00 | 3,388,920.37 | 3.788268 | % | 30 / 360 | 12/01 - 12/31 | 10,698.45 | 6,198.07 | 16,896.52 | 0.00 | 0.00 | 3,382,722.30 | ||||||||||||||||||||||||||||||||||
B-4 | 2,412,000.00 | 2,357,679.82 | 3.788268 | % | 30 / 360 | 12/01 - 12/31 | 7,442.94 | 4,312.01 | 11,754.95 | 0.00 | 0.00 | 2,353,367.81 | ||||||||||||||||||||||||||||||||||
B-5 | 3,165,461.00 | 3,165,461.00 | 3.788268 | % | 30 / 360 | 12/01 - 12/31 | 9,993.02 | 0.00 | 9,993.02 | 0.00 | 0.00 | 3,165,461.00 | ||||||||||||||||||||||||||||||||||
LT-R | 0.00 | 0.00 | 0.000000 | % | - | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||||||||||||||||
R | 0.00 | 0.00 | 0.000000 | % | - | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||||||||||||||||
Totals | 301,462,461.00 | 266,240,683.80 | 506,292.40 | 2,040,321.76 | 2,546,614.16 | 0.00 | 0.00 | 264,200,362.04 | ||||||||||||||||||||||||||||||||||||||
Notional Classes | ||||||||||||||||||||||||||||||||||||||||||||||
A-IO1 | 280,209,000.00 | 245,394,579.12 | 0.788268 | % | 30 / 360 | 12/01 - 12/31 | 161,197.26 | 0.00 | 161,197.26 | 0.00 | 0.00 | 243,386,593.87 | ||||||||||||||||||||||||||||||||||
A-IO2 | 140,105,000.00 | 122,697,727.44 | 0.500000 | % | 30 / 360 | 12/01 - 12/31 | 51,124.05 | 0.00 | 51,124.05 | 0.00 | 0.00 | 121,693,731.23 | ||||||||||||||||||||||||||||||||||
A-IO3 | 140,104,000.00 | 122,696,851.68 | 1.192000 | % | 30 / 360 | 12/01 - 12/31 | 121,878.87 | 0.00 | 121,878.87 | 0.00 | 0.00 | 121,692,862.64 | ||||||||||||||||||||||||||||||||||
Totals | 560,418,000.00 | 490,789,158.24 | 334,200.18 | 0.00 | 334,200.18 | 0.00 | 0.00 | 486,773,187.74 |
Reports Available at www.sf.citidirect.com | Page 2 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Distribution Summary (Factors)
PER $1,000 OF ORIGINAL BALANCE
Prior | Current | |||||||||||||||||||||||||||||||||
Principal | Principal | Total | Deferred | Realized | Principal | |||||||||||||||||||||||||||||
Record | Balance | Interest Distributed | Distributed | Distributed | Interest | Loss | Balance | |||||||||||||||||||||||||||
Class | CUSIP | Date | (3/2 x 1000) | (7/2 x 1000) | (8/2 x 1000) | (9/2 x 1000) | (10/2 x 1000) | (11/2 x 1000) | (12/2 x 1000) | |||||||||||||||||||||||||
A-1 | 81744NAA8 | 12/31/2013 | 875.755522 | 1.824491 | 7.166027 | 8.990518 | 0.000000 | 0.000000 | 868.589495 | |||||||||||||||||||||||||
A-2 | 81744NAB6 | 12/31/2013 | 875.755522 | 1.319472 | 7.166027 | 8.485499 | 0.000000 | 0.000000 | 868.589495 | |||||||||||||||||||||||||
B-1 | 81744NAG5 | 12/31/2013 | 977.479195 | 3.085794 | 1.787733 | 4.873527 | 0.000000 | 0.000000 | 975.691462 | |||||||||||||||||||||||||
B-2 | 81744NAH3 | 12/31/2013 | 977.479194 | 3.085794 | 1.787732 | 4.873526 | 0.000000 | 0.000000 | 975.691462 | |||||||||||||||||||||||||
B-3 | 81744NAJ9 | 12/31/2013 | 977.479195 | 3.085795 | 1.787733 | 4.873528 | 0.000000 | 0.000000 | 975.691462 | |||||||||||||||||||||||||
B-4 | 81744NAK6 | 12/31/2013 | 977.479196 | 3.085796 | 1.787732 | 4.873528 | 0.000000 | 0.000000 | 975.691464 | |||||||||||||||||||||||||
B-5 | 81744NAL4 | 12/31/2013 | 1,000.000000 | 3.156892 | 0.000000 | 3.156892 | 0.000000 | 0.000000 | 1,000.000000 | |||||||||||||||||||||||||
LT-R | 81744NAN0 | 12/31/2013 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | |||||||||||||||||||||||||
R | 81744NAM2 | 12/31/2013 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | |||||||||||||||||||||||||
A-IO1 | 81744NAD2 | 12/31/2013 | 875.755522 | 0.575275 | 0.000000 | 0.575275 | 0.000000 | 0.000000 | 868.589495 | |||||||||||||||||||||||||
A-IO2 | 81744NAE0 | 12/31/2013 | 875.755522 | 0.364898 | 0.000000 | 0.364898 | 0.000000 | 0.000000 | 868.589495 | |||||||||||||||||||||||||
A-IO3 | 81744NAF7 | 12/31/2013 | 875.755522 | 0.869917 | 0.000000 | 0.869917 | 0.000000 | 0.000000 | 868.589495 |
Reports Available at www.sf.citidirect.com | Page 3 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Interest Distribution Detail
DISTRIBUTION IN DOLLARS
Prior | Pass- | Next Pass- | Interest | Optimal | Prior | Interest on | Non-Recov. | Current | ||||||||||||||||||||||||||||||||||||||||
Principal | Through | Through | Accrual Day | Accrued | Unpaid | Prior Unpaid | Interest | Interest | Deferred | Interest | Unpaid | |||||||||||||||||||||||||||||||||||||
Class | Balance | Rate | Rate | Cnt Fraction | Interest | Interest | Interest | Shortfall | Due | Interest | Distributed | Interest | ||||||||||||||||||||||||||||||||||||
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10)=(6)+(7)+(8)-(9) | (11) | (12) | (13)=(10)-(11)-(12) | ||||||||||||||||||||||||||||||||||||
A-1 | 122,697,727.44 | 2.500000 | % | 2.500000 | % | 30 / 360 | 255,620.27 | 0.00 | 0.00 | 0.00 | 255,620.27 | 0.00 | 255,620.27 | 0.00 | ||||||||||||||||||||||||||||||||||
A-2 | 122,696,851.68 | 1.808000 | % | 1.808000 | % | 30 / 360 | 184,863.26 | 0.00 | 0.00 | 0.00 | 184,863.26 | 0.00 | 184,863.26 | 0.00 | ||||||||||||||||||||||||||||||||||
B-1 | 7,809,081.29 | 3.788268 | % | 3.786164 | % | 30 / 360 | 24,652.41 | 0.00 | 0.00 | 0.00 | 24,652.41 | 0.00 | 24,652.41 | 0.00 | ||||||||||||||||||||||||||||||||||
B-2 | 4,124,962.20 | 3.788268 | % | 3.786164 | % | 30 / 360 | 13,022.05 | 0.00 | 0.00 | 0.00 | 13,022.05 | 0.00 | 13,022.05 | 0.00 | ||||||||||||||||||||||||||||||||||
B-3 | 3,388,920.37 | 3.788268 | % | 3.786164 | % | 30 / 360 | 10,698.45 | 0.00 | 0.00 | 0.00 | 10,698.45 | 0.00 | 10,698.45 | 0.00 | ||||||||||||||||||||||||||||||||||
B-4 | 2,357,679.82 | 3.788268 | % | 3.786164 | % | 30 / 360 | 7,442.94 | 0.00 | 0.00 | 0.00 | 7,442.94 | 0.00 | 7,442.94 | 0.00 | ||||||||||||||||||||||||||||||||||
B-5 | 3,165,461.00 | 3.788268 | % | 3.786164 | % | 30 / 360 | 9,993.02 | 0.00 | 0.00 | 0.00 | 9,993.02 | 0.00 | 9,993.02 | 0.00 | ||||||||||||||||||||||||||||||||||
LT-R | 0.00 | 0.000000 | % | - | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||||||||||||||||
R | 0.00 | 0.000000 | % | - | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||||||||||||||||
Totals | 266,240,683.80 | 506,292.40 | 0.00 | 0.00 | 0.00 | 506,292.40 | 0.00 | 506,292.40 | 0.00 | |||||||||||||||||||||||||||||||||||||||
Notional Classes | ||||||||||||||||||||||||||||||||||||||||||||||||
A-IO1 | 245,394,579.12 | 0.788268 | % | 0.786164 | % | 30 / 360 | 161,197.26 | 0.00 | 0.00 | 0.00 | 161,197.26 | 0.00 | 161,197.26 | 0.00 | ||||||||||||||||||||||||||||||||||
A-IO2 | 122,697,727.44 | 0.500000 | % | 0.500000 | % | 30 / 360 | 51,124.05 | 0.00 | 0.00 | 0.00 | 51,124.05 | 0.00 | 51,124.05 | 0.00 | ||||||||||||||||||||||||||||||||||
A-IO3 | 122,696,851.68 | 1.192000 | % | 1.192000 | % | 30 / 360 | 121,878.87 | 0.00 | 0.00 | 0.00 | 121,878.87 | 0.00 | 121,878.87 | 0.00 | ||||||||||||||||||||||||||||||||||
Totals | 490,789,158.24 | 334,200.18 | 0.00 | 0.00 | 0.00 | 334,200.18 | 0.00 | 334,200.18 | 0.00 |
Reports Available at www.sf.citidirect.com | Page 4 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Principal Distribution Detail
DISTRIBUTION IN DOLLARS
Prior | Scheduled | Unscheduled | Current | Current | Current | Cumulative | Original | Current | Original | Current | ||||||||||||||||||||||||||||||||||||||||||
Original | Principal | Principal | Principal | Accreted | Realized | Principal | Principal | Realized | Class | Class | Credit | Credit | ||||||||||||||||||||||||||||||||||||||||
Class | Balance | Balance | Distribution | Distribution | Principal | Losses | Recoveries | Balance | Losses | (%) | (%) | Support | Support | |||||||||||||||||||||||||||||||||||||||
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9)=(3)-(4)-(5)+(6)-(7)+(8) | (10) | (11) | (12) | (13) | (14) | |||||||||||||||||||||||||||||||||||||||
A-1 | 140,105,000.00 | 122,697,727.44 | 190,328.95 | 813,667.25 | 0.00 | 0.00 | 0.00 | 121,693,731.23 | 0.00 | 46.48 | % | 46.06 | % | 7.05 | % | 7.88 | % | |||||||||||||||||||||||||||||||||||
A-2 | 140,104,000.00 | 122,696,851.68 | 190,327.60 | 813,661.45 | 0.00 | 0.00 | 0.00 | 121,692,862.64 | 0.00 | 46.47 | % | 46.06 | % | 7.05 | % | 7.88 | % | |||||||||||||||||||||||||||||||||||
B-1 | 7,989,000.00 | 7,809,081.29 | 14,282.20 | 0.00 | 0.00 | 0.00 | 0.00 | 7,794,799.09 | 0.00 | 2.65 | % | 2.95 | % | 4.40 | % | 4.93 | % | |||||||||||||||||||||||||||||||||||
B-2 | 4,220,000.00 | 4,124,962.20 | 7,544.23 | 0.00 | 0.00 | 0.00 | 0.00 | 4,117,417.97 | 0.00 | 1.40 | % | 1.56 | % | 3.00 | % | 3.37 | % | |||||||||||||||||||||||||||||||||||
B-3 | 3,467,000.00 | 3,388,920.37 | 6,198.07 | 0.00 | 0.00 | 0.00 | 0.00 | 3,382,722.30 | 0.00 | 1.15 | % | 1.28 | % | 1.85 | % | 2.09 | % | |||||||||||||||||||||||||||||||||||
B-4 | 2,412,000.00 | 2,357,679.82 | 4,312.01 | 0.00 | 0.00 | 0.00 | 0.00 | 2,353,367.81 | 0.00 | 0.80 | % | 0.89 | % | 1.05 | % | 1.20 | % | |||||||||||||||||||||||||||||||||||
B-5 | 3,165,461.00 | 3,165,461.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,165,461.00 | 0.00 | 1.05 | % | 1.20 | % | 0.00 | % | 0.00 | % | |||||||||||||||||||||||||||||||||||
Totals | 301,462,461.00 | 266,240,683.80 | 412,993.06 | 1,627,328.70 | 0.00 | 0.00 | 0.00 | 264,200,362.04 | 0.00 | 100 | % | 100 | % |
Reports Available at www.sf.citidirect.com | Page 5 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Reconciliation Detail
SOURCE OF FUNDS
Interest Funds Available | ||||||||
Scheduled Interest | 902,615.37 | |||||||
Uncompensated PPIS | 0.00 | |||||||
Relief Act Shortfall | 0.00 | |||||||
Other Expenses | 0.00 | |||||||
Losses in Excess of Principal Balance | 0.00 | |||||||
Stop Advance Interest | 0.00 | |||||||
Other Interest Reductions | 0.00 | |||||||
Total Interest Funds Available: | 902,615.37 | |||||||
Principal Funds Available | ||||||||
Scheduled Principal | 412,993.07 | |||||||
Curtailments | 40,704.09 | |||||||
Curtailments Adjustments | 0.00 | |||||||
Prepayments in Full | 1,586,624.61 | |||||||
Liquidation Principal | 0.00 | |||||||
Repurchased Principal | 0.00 | |||||||
Other Principal | 0.00 | |||||||
Substitution Principal | 0.00 | |||||||
Principal Losses and Forgiveness | 0.00 | |||||||
Subsequent Recoveries / (Losses) | 0.00 | |||||||
Total Principal Funds Available: | 2,040,321.77 | |||||||
Total Funds Available | 2,942,937.14 |
ALLOCATION OF FUNDS
Scheduled Fees | ||||||||
Master Servicing Fee | 1,841.48 | |||||||
Servicing Fee | 55,466.80 | |||||||
Securities Adminstrator Fee | 4,814.52 | |||||||
Total Scheduled Fees: | 62,122.80 | |||||||
Additional Fees, Expenses, etc. | ||||||||
Trust Fund Expenses | 0.00 | |||||||
Other Expenses | 0.00 | |||||||
Total Additional Fees, Expenses, etc.: | 0.00 | |||||||
Distribution to Certificateholders | ||||||||
Interest Distribution | 840,492.58 | |||||||
Principal Distribution | 2,040,321.76 | |||||||
Total Distribution to Certificateholders: | 2,880,814.34 | |||||||
Total Funds Allocated | 2,942,937.14 |
Reports Available at www.sf.citidirect.com | Page 6 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Collateral Summary
ASSET CHARACTERISTICS
Cut-Off | Beginning | Ending | Delta or % of Orig | |||||||||||||
Aggregate Stated Principal Balance | 301,462,461.31 | 266,240,684.11 | 264,200,362.34 | 87.64 | % | |||||||||||
Aggregate Actual Principal Balance | 301,462,461.31 | 266,526,117.82 | 264,475,340.00 | 87.73 | % | |||||||||||
Loan Count | 358 | 326 | 324 | 34 | ||||||||||||
Weighted Average Coupon Rate (WAC) | 4.078918 | % | 4.068268 | % | 4.066164 | % | -0.012754 | % | ||||||||
Net Weighted Average Coupon Rate (Net WAC) | 3.798918 | % | 3.788268 | % | 3.786164 | % | -0.012754 | % | ||||||||
Weighted Average Remaining Term (WART in months) | 356 | 343 | 342 | 14 |
AVAILABLE PRINCIPAL
Scheduled Principal | 412,993.07 | |||
Curtailments | 40,704.09 | |||
Curtailments Adjustments | 0.00 | |||
Prepayments in Full | 1,586,624.61 | |||
Liquidation Principal | 0.00 | |||
Repurchased Principal | 0.00 | |||
Other Principal | 0.00 | |||
Substitution Principal | 0.00 | |||
Principal Losses and Forgiveness | 0.00 | |||
Subsequent Recoveries / (Losses) | 0.00 | |||
TOTAL AVAILABLE PRINCIPAL | 2,040,321.77 |
Realized Loss Summary
Principal Losses and Forgiveness | 0.00 | |||
Losses in Excess of Principal Balance | 0.00 | |||
Subsequent (Recoveries) / Losses | 0.00 | |||
Cumulative Realized Losses | 0.00 |
AVAILABLE INTEREST
Scheduled Interest | 902,615.37 | |||
Less: Master Servicing Fee | 1,841.48 | |||
Servicing Fee | 55,466.80 | |||
Securities Adminstrator Fee | 4,814.52 | |||
Uncompensated PPIS | 0.00 | |||
Relief Act Shortfall | 0.00 | |||
Other Expenses | 0.00 | |||
Losses in Excess of Principal Balance | 0.00 | |||
Stop Advance Interest | 0.00 | |||
Other Interest Reductions | 0.00 | |||
TOTAL AVAILABLE INTEREST | 840,492.57 |
Reports Available at www.sf.citidirect.com | Page 7 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Stratification Detail
Loan Rate
# of | Ending Sched | % of Agg | ||||||||||||||||||
Loan Rate | Loans | Balance | Balance | WAC | WART | |||||||||||||||
3.00 or Less | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
3.01 to 3.25 | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
3.26 to 3.50 | 4 | 4,708,416.36 | 1.78 | 3.4309 | 283 | |||||||||||||||
3.51 to 3.75 | 20 | 17,361,219.55 | 6.57 | 3.7284 | 329 | |||||||||||||||
3.76 to 4.00 | 137 | 115,534,450.77 | 43.73 | 3.9467 | 344 | |||||||||||||||
4.01 to 4.25 | 122 | 93,951,602.04 | 35.56 | 4.1703 | 345 | |||||||||||||||
4.26 to 4.50 | 35 | 27,554,497.51 | 10.43 | 4.4201 | 344 | |||||||||||||||
4.51 to 4.75 | 5 | 3,974,902.06 | 1.50 | 4.6250 | 345 | |||||||||||||||
4.76 to 5.00 | 1 | 1,115,274.05 | 0.42 | 4.8750 | 342 | |||||||||||||||
5.01 to 5.25 | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
5.26 to 5.50 | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
5.51 to 5.75 | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
5.76 to 6.00 | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
6.01 or Greater | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
Totals | 324 | 264,200,362.34 | 100.00 | 4.0662 | 342 |
Ending Scheduled Balance
Ending Sched | # of | Ending Sched | % of Agg | |||||||||||||||||
Balance | Loans | Balance | Balance | WAC | WART | |||||||||||||||
1 to 150,000 | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
150,001 to 300,000 | 0 | 0.00 | 0.00 | 0.0000 | 0 | |||||||||||||||
300,001 to 450,000 | 2 | 799,666.79 | 0.30 | 4.0112 | 344 | |||||||||||||||
450,001 to 600,000 | 60 | 31,857,385.38 | 12.06 | 4.0899 | 343 | |||||||||||||||
600,001 to 750,000 | 104 | 70,700,374.49 | 26.76 | 4.0972 | 344 | |||||||||||||||
750,001 to 900,000 | 61 | 49,816,016.23 | 18.86 | 4.0980 | 343 | |||||||||||||||
900,001 to 1,050,000 | 42 | 39,810,169.99 | 15.07 | 4.1062 | 345 | |||||||||||||||
1,050,001 to 1,200,000 | 24 | 27,046,888.26 | 10.24 | 3.9778 | 340 | |||||||||||||||
1,200,001 to 1,350,000 | 12 | 15,262,568.92 | 5.78 | 3.9692 | 335 | |||||||||||||||
1,350,001 to 1,500,000 | 10 | 14,133,318.23 | 5.35 | 4.0486 | 345 | |||||||||||||||
1,500,001 to 1,650,000 | 6 | 9,436,026.82 | 3.57 | 3.8770 | 325 | |||||||||||||||
1,650,001 to 1,800,000 | 1 | 1,681,853.18 | 0.64 | 4.3750 | 342 | |||||||||||||||
1,800,001 to 1,950,000 | 2 | 3,656,094.05 | 1.38 | 3.8750 | 345 | |||||||||||||||
Totals | 324 | 264,200,362.34 | 100.00 | 4.0662 | 342 |
Reports Available at www.sf.citidirect.com | Page 8 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Delinquency Information
DELINQUENT | BANKRUPTCY | FORECLOSURE | REO | TOTAL | ||||||||||||||||||||||||||||||||||||||||||||
Days | Balance | Count | Days | Balance | Count | Days | Balance | Count | Days | Balance | Count | Days | Balance | Count | ||||||||||||||||||||||||||||||||||
< 30 | 481,115.07 | 1 | < 30 | 0.00 | 0 | < 30 | 0.00 | 0 | < 30 | 481,115.07 | 1 | |||||||||||||||||||||||||||||||||||||
0.182102 | % | 0.3 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.182102 | % | 0.3 | % | |||||||||||||||||||||||||||||||||
30-59 | 0.00 | 0 | 30-59 | 0.00 | 0 | 30-59 | 0.00 | 0 | 30-59 | 0.00 | 0 | 30-59 | 0.00 | 0 | ||||||||||||||||||||||||||||||||||
0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | |||||||||||||||||||||||||||||
60-89 | 0.00 | 0 | 60-89 | 0.00 | 0 | 60-89 | 0.00 | 0 | 60-89 | 0.00 | 0 | 60-89 | 0.00 | 0 | ||||||||||||||||||||||||||||||||||
0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | |||||||||||||||||||||||||||||
90-119 | 0.00 | 0 | 90-119 | 0.00 | 0 | 90-119 | 0.00 | 0 | 90-119 | 0.00 | 0 | 90-119 | 0.00 | 0 | ||||||||||||||||||||||||||||||||||
0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | |||||||||||||||||||||||||||||
120-149 | 0.00 | 0 | 120-149 | 0.00 | 0 | 120-149 | 0.00 | 0 | 120-149 | 0.00 | 0 | 120-149 | 0.00 | 0 | ||||||||||||||||||||||||||||||||||
0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | |||||||||||||||||||||||||||||
150-179 | 0.00 | 0 | 150-179 | 0.00 | 0 | 150-179 | 0.00 | 0 | 150-179 | 0.00 | 0 | 150-179 | 0.00 | 0 | ||||||||||||||||||||||||||||||||||
0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | |||||||||||||||||||||||||||||
180+ | 0.00 | 0 | 180+ | 0.00 | 0 | 180+ | 0.00 | 0 | 180+ | 0.00 | 0 | 180+ | 0.00 | 0 | ||||||||||||||||||||||||||||||||||
0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | |||||||||||||||||||||||||||||
Total | 0.00 | 0 | Total | 481,115.07 | 1 | Total | 0.00 | 0 | Total | 0.00 | 0 | Total | 481,115.07 | 1 | ||||||||||||||||||||||||||||||||||
0.000000 | % | 0.0 | % | 0.182102 | % | 0.3 | % | 0.000000 | % | 0.0 | % | 0.000000 | % | 0.0 | % | 0.182102 | % | 0.3 | % |
Principal and Interest Advances | N/A |
Reports Available at www.sf.citidirect.com | Page 9 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Historical Delinquency Information
Distribution | 1 Month | 2 Month | 3 + Month | Bankruptcy | Foreclosure | REO | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Date | Balance | Cnt | Balance | Cnt | Balance | Cnt | Balance | Cnt | Balance | Cnt | Balance | Cnt | Balance | Cnt | ||||||||||||||||||||||||||||||||||||||||||
01/2014 | 0 | 0 | 0 | 0 | 0 | 0 | 481,115 | 1 | 0 | 0 | 0 | 0 | 481,115 | 1 | ||||||||||||||||||||||||||||||||||||||||||
0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.182 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.182 | % | 0.3 | % | |||||||||||||||||||||||||||||
12/2013 | 618,942 | 1 | 0 | 0 | 0 | 0 | 481,858 | 1 | 0 | 0 | 0 | 0 | 1,100,799 | 2 | ||||||||||||||||||||||||||||||||||||||||||
0.232 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.181 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.413 | % | 0.6 | % | |||||||||||||||||||||||||||||
11/2013 | 0 | 0 | 0 | 0 | 0 | 0 | 482,598 | 1 | 0 | 0 | 0 | 0 | 482,598 | 1 | ||||||||||||||||||||||||||||||||||||||||||
0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.181 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.181 | % | 0.3 | % | |||||||||||||||||||||||||||||
10/2013 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | |||||||||||||||||||||||||||||
09/2013 | 0 | 0 | 0 | 0 | 0 | 0 | 484,071 | 1 | 0 | 0 | 0 | 0 | 484,071 | 1 | ||||||||||||||||||||||||||||||||||||||||||
0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.178 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.178 | % | 0.3 | % | |||||||||||||||||||||||||||||
08/2013 | 0 | 0 | 0 | 0 | 0 | 0 | 484,804 | 1 | 0 | 0 | 0 | 0 | 484,804 | 1 | ||||||||||||||||||||||||||||||||||||||||||
0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.177 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.177 | % | 0.3 | % | |||||||||||||||||||||||||||||
07/2013 | 0 | 0 | 0 | 0 | 0 | 0 | 485,534 | 1 | 0 | 0 | 0 | 0 | 485,534 | 1 | ||||||||||||||||||||||||||||||||||||||||||
0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.177 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.177 | % | 0.3 | % | |||||||||||||||||||||||||||||
06/2013 | 486,386 | 1 | 0 | 0 | 0 | 0 | 486,262 | 1 | 0 | 0 | 0 | 0 | 972,648 | 2 | ||||||||||||||||||||||||||||||||||||||||||
0.176 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.176 | % | 0.3 | % | 0.000 | % | 0.0 | % | 0.000 | % | 0.0 | % | 0.352 | % | 0.6 | % |
Reports Available at www.sf.citidirect.com | Page 10 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Standard Prepayment and Default Information
Wtd. Avg. | ||||||||||||||||||||||||||||||||||||||||||||
Payment | Age | Current Collateral | Scheduled | Unscheduled | Liquidation | |||||||||||||||||||||||||||||||||||||||
Date | (Months) | Balance | Principal | Principal | Principal | SMM | CPR | PSA | MDR | CDR | SDA | |||||||||||||||||||||||||||||||||
27-Jan-2014 | 15.07 | 264,200,362.34 | 412,993.07 | 1,627,328.70 | 0.00 | 0.612 | % | 7.104 | % | 236 | % | 0.000 | % | 0.000 | % | 0 | % | |||||||||||||||||||||||||||
26-Dec-2013 | 14.07 | 266,240,684.11 | 412,428.35 | 657,845.08 | 0.00 | 0.246 | % | 2.918 | % | 104 | % | 0.000 | % | 0.000 | % | 0 | % | |||||||||||||||||||||||||||
25-Nov-2013 | 13.06 | 267,310,957.54 | 413,814.57 | 2,017,830.82 | 0.00 | 0.749 | % | 8.629 | % | 330 | % | 0.000 | % | 0.000 | % | 0 | % | |||||||||||||||||||||||||||
25-Oct-2013 | 12.07 | 269,742,602.93 | 414,687.99 | 1,715,224.74 | 0.00 | 0.632 | % | 7.324 | % | 303 | % | 0.000 | % | 0.000 | % | 0 | % | |||||||||||||||||||||||||||
25-Sep-2013 | 11.07 | 271,872,515.66 | 416,194.20 | 1,959,621.12 | 0.00 | 0.716 | % | 8.257 | % | 373 | % | 0.000 | % | 0.000 | % | 0 | % | |||||||||||||||||||||||||||
26-Aug-2013 | 10.07 | 274,248,330.98 | 413,900.62 | 271,403.86 | 0.00 | 0.099 | % | 1.180 | % | 59 | % | 0.000 | % | 0.000 | % | 0 | % | |||||||||||||||||||||||||||
25-Jul-2013 | 9.07 | 274,933,635.46 | 414,146.70 | 1,350,638.56 | 0.00 | 0.489 | % | 5.711 | % | 315 | % | 0.000 | % | 0.000 | % | 0 | % | |||||||||||||||||||||||||||
25-Jun-2013 | 8.07 | 276,698,420.72 | 421,257.03 | 6,317,513.20 | 0.00 | 2.232 | % | 23.731 | % | 1,470 | % | 0.000 | % | 0.000 | % | 0 | % |
SMM (Single Month Mortality) = (Beginning Balance - Ending Balance - Scheduled Principal) / (Beginning Balance - Scheduled Principal)
CPR (Constant Prepayment Rate) = 1 - ((1-SMM)^12)
PSA (Public Securities Association) = CPR / (min(.2% * Age, 6%))
MDR (Monthly Default Rate) = Beginning Balance of Liquidated Asset / Total Beginning Balance
CDR (Conditional Default Rate) = 1 - ((1-MDR)^12)
SDA (Standard Default Assumption) = CDR / (min(.2% * Age, 6%))
Reports Available at www.sf.citidirect.com | Page 11 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Waterfall Detail
Remaining | ||||||||
Amount | Available | |||||||
DISTRIBUTIONS | Distributed | Funds | ||||||
Available Distribution Amount | 2,880,814.34 | |||||||
Senior Certificates, the Interest Distribution Amount and unpaid Interest Shortfalls | (774,683.71 | ) | 2,106,130.63 | |||||
Senior Certificates, the Senior Principal Distribution Amount | (2,007,985.25 | ) | 98,145.38 | |||||
Class B-1 Certificates, the Interest Distribution Amount and unpaid Interest Shortfalls | (24,652.41 | ) | 73,492.97 | |||||
Class B-1 Certificates, the Subordinate Principal Distribution Amount | (14,282.20 | ) | 59,210.77 | |||||
Class B-2 Certificates, the Interest Distribution Amount and unpaid Interest Shortfalls | (13,022.05 | ) | 46,188.72 | |||||
Class B-2 Certificates, the Subordinate Principal Distribution Amount | (7,544.23 | ) | 38,644.49 | |||||
Class B-3 Certificates, the Interest Distribution Amount and unpaid Interest Shortfalls | (10,698.45 | ) | 27,946.04 | |||||
Class B-3 Certificates, the Subordinate Principal Distribution Amount | (6,198.07 | ) | 21,747.97 | |||||
Class B-4 Certificates, the Interest Distribution Amount and unpaid Interest Shortfalls | (7,442.94 | ) | 14,305.03 | |||||
Class B-4 Certificates, the Subordinate Principal Distribution Amount | (4,312.01 | ) | 9,993.02 | |||||
Class B-5 Certificates, the Interest Distribution Amount and unpaid Interest Shortfalls | (9,993.02 | ) | 0.00 | |||||
Class B-5 Certificates, the Subordinate Principal Distribution Amount | 0.00 | 0.00 | ||||||
Class LT-R and R Certificates, any remaining amounts | 0.00 | 0.00 |
Reports Available at www.sf.citidirect.com | Page 12 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Other Information
Principal Percentages | ||||
Senior Percentage | 92.170203 | % | ||
Subordinate Percentage | 7.829797 | % | ||
Senior Prepayment Percentage | 100.000000 | % | ||
Subordinate Prepayment Percentage | 0.000000 | % | ||
Other Information | ||||
Step-Down Test satisfied? | Yes |
Reports Available at www.sf.citidirect.com | Page 13 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Voluntary Prepayments, Repurchases, and Substitutions
Scheduled | |||||||||||||||||||||||||||||||||||||||||
Original | Principal | Principal | Prepayment | Prepayment | Current | ||||||||||||||||||||||||||||||||||||
Principal Pay | Principal | Balance at | Pay Down | Penalties | Penalties | Note | Original | Original | |||||||||||||||||||||||||||||||||
Loan Number | Down Date | Payoff Type | Balance | Payoff | Amount | Collected | Waived | Rate | LTV | Term | State | ||||||||||||||||||||||||||||||
0000000046340477 | 01/01/2014 | Voluntary Prepayment | 1,000,000.00 | 964,021.13 | 964,021.13 | 0.00 | 0.00 | 4.37500 | % | 71.42 | 360 | CA | |||||||||||||||||||||||||||||
0000000046339594 | 01/01/2014 | Voluntary Prepayment | 637,000.00 | 624,965.64 | 624,965.64 | 0.00 | 0.00 | 4.50000 | % | 74.94 | 360 | CO | |||||||||||||||||||||||||||||
Count: | 2 | TOTALS: | 1,637,000.00 | 1,588,986.77 | 1,588,986.77 | 0.00 | 0.00 | 4.424164 | % | 72.79 | 360 |
Reports Available at www.sf.citidirect.com | Page 14 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Liquidation / Loss Detail
Most Recent | Cutoff | Current | Subsequent | |||||||||||||||||||||||||||||||
Prior | Next Due | Principal | Prior Unpaid | Prior Scheduled | Realized Loss | Loss / (Recovery) | Total Realized | |||||||||||||||||||||||||||
Loan Number | Loss Type | Loan Status | Date | Balance | Principal Balance | Principal Balance | Amount | Amount | Loss Amount | Loss Severity | ||||||||||||||||||||||||
No Loans With Losses to Report. |
Reports Available at www.sf.citidirect.com | Page 15 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
REO Detail
Current | REO | |||||||||||||||||||||||||
REO | Original Principal | Unpaid Principal | Scheduled | Book | ||||||||||||||||||||||
Loan Number | Group No. | State | Acquisition Date | Balance | Balance at Acquisition | Principal Balance | Value | |||||||||||||||||||
No REOs to Report. |
Reports Available at www.sf.citidirect.com | Page 16 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Material Modifications, Extensions, and Waivers Loan Detail: Part 1
Current | Current | |||||||||||||||||||||||||||||||||||||
Effective | Scheduled | Actual | Delinquency | Capitalized | Forgiven | Forgiven | ||||||||||||||||||||||||||||||||
Mod. Date | Loan Number | P&I | Balance | Balance | Balance | Status | Amount | Principal | Interest | |||||||||||||||||||||||||||||
No Modified Loans to Report. |
Reports Available at www.sf.citidirect.com | Page 17 of 18 | © Copyright 2014 Citigroup |
Distribution Date: Determination Date: | 01/27/2014 01/16/2014 | Sequoia Mortgage Trust Mortgage Pass-Through Certificates Series 2012-6 |
Material Modifications, Extensions, and Waivers Loan Detail: Part 2
Interest | Period | Life | Initial Reset | Next | Int Reset | IO | Balloon | Maturity | ||||||||||||||||||||||||||||||||||||||
Loan Number | Loan Type | Rate | Margin | Cap | Cap | Date | Reset Date | Period | Period | Payment | Date | |||||||||||||||||||||||||||||||||||
No Modified Loans to Report. |
Reports Available at www.sf.citidirect.com | Page 18 of 18 | © Copyright 2014 Citigroup |