Item 1. Business.
Omitted.
Item 2.
Item 2. Properties.
See Item 14(a), Exhibits 99.1, 99.2, and 99.3, for information provided in lieu of information required by Item 102 of Regulation S-K.
Item 3.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings involving the trusts created under the Pooling and Servicing Agreement (the Trusts), the Trustee, the Servicer or the registrant with respect to the Trusts other than routine litigation incidental to the duties of the respective parties.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5.
Item 5. Market for registrant's Common Equity and Related Stockholder Matters.
No established public trading market for the Certificates exists.
Records provided to the Trust by the DTC and the Trustee indicate that as of December 31, 2002, the number of holders of record for each class of Certificate were as follows:
Class I-A-1 3 Class I-A-2 2 Class I-A-3 4 Class I-A-4 1 Class I-A-5 1 Class I-A-6 3 Class I-A-7 1 Class I-A-8 1 Class I-P 1 Class I-X 1 Class II-A 2 Class II-P 1 Class II-X 1 Class III-A 1 Class III-P 1 Class III-X 1 Class B-1 1 Class B-2 1 Class B-3 1 Class B-4 1 Class B-5 1 Class B-6 1 Class R-I 1 Class R-II 1 Class R-III 1
Total: 34
Item 6.
Item 6. Selected Financial Data.
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Omitted.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures about Market Risk.
Not applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
See Item 14(a), Exhibits 99.1, 99.2, 99.3, for information provided in lieu of information required by Item 302 of Regulation S-K.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not applicable.
Item 11.
Item 11. Executive Compensation.
Not applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
Not applicable.
Item 13.
Item 13. Certain Relationships and Related Transactions.
Not applicable.
Item 14.
Item 14. Controls and Procedures.
Not applicable.
PART IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) Exhibits
(99.1) Annual Independent Accountants' Servicing Reports concerning servicing activities for the year ended December 31, 2002.
(99.2) Report of Management as to Compliance with Minimum Servicing Standards for the year ended December 31, 2002.
(99.3) Annual Statements of Compliance under the Pooling and Servicing Agreements for the year ended December 31, 2002.
(99.4) Aggregate Statement of Principal and Interest Distributions to Certificate Holders.
(b) On October 15, 2002, a report on Form 8-K was filed in order to provide the Pooling and Servicing Agreement for the Certificates.
On November 07, 2002, December 09, 2002, and January 07, 2003 reports on Form 8-K were filed by the Company in order to provide the statements for the monthly distributions to holders of the Certificates. No other reports on Form 8-K have been filed during the last quarter of the period covered by this report.
(c) Not applicable.
(d) Omitted.
Such document (i) is not filed herewith since such document was not received by the reporting person at least three business days prior to the due date covered by this report, and (ii) will be included in an amendment to this report on Form 10-K/A to be filed within 30 days of the Reporting Person's receipt of such document.
Filed herewith.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized:
Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Series 2002-4 Trust (Registrant)
Signed: Structured Asset Mortgage Investments Inc., as Depositor
By: Jeffrey Mayer, President
By: /s/ Jeffrey Mayer
Dated: April 14, 2003
Sarbanes-Oxley Certification
I, Jeffrey Mayer, certify that:
1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report, of Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Series 2002-4 Trust;
2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;
3. Based on my knowledge, the distribution or servicing information required to be provided to the trustee by the servicer under the pooling and servicing, or similar, agreement, for inclusion in these reports is included in these reports;
4. Based on my knowledge and upon the annual compliance statement included in the report and required to be delivered to the trustee in accordance with the terms of the pooling and servicing, or similar, agreement, and except as disclosed in the reports, the servicer has fulfilled its obligations under the servicing agreement; and
5. The reports disclose all significant deficiencies relating to the servicer's compliance with the minimum servicing standards based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedure, as set forth in the pooling and servicing, or similar, agreement, that is included in these reports.
In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: Commercial Federal Mtg, as Servicer, EMC Mortgage Corp, as Servicer, Fifth Third Mtg Company, as Servicer, Navy Federal Credit Union, as Servicer, Sun Trust Mortgage Inc, as Servicer, Trust Company of New Jersey, as Servicer, Wendover Financial Services, as Servicer and Wells Fargo Bank Minnesota, N.A., as Securities Administrator.
Date: April 14, 2003
/s/ Jeffrey Mayer Signature
President Title
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
(a)(i) No annual report is provided to the Certificateholders other than with respect to aggregate principal and interest distributions.
(a)(ii) No proxy statement, form of proxy or other proxy soliciting material has been sent to any Certificateholder with respect to any annual or other meeting of Certificateholders.
Ex-99.1(a)
Deloitte & Touche LLP First National Tower 1601 Dodge Street, Ste. 3100 Omaha, Nebraska 68102-9706
Deloitte & Touche (logo)
INDEPENDENT AUDITORS' REPORT
To the Board of Directors Commercial Federal Bank Omaha, Nebraska
We have examined management's assertion about Commercial Federal Bank's (the "Company"), compliance with minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 2002 included in the accompanying management assertion. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the entity's compliance based on our examination.
Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards during the year ended December 31, 2002 is fairly stated, in all material respects.
/s/ Deloitte & Touch LLP
February 6, 2003
Deloitte Touche Tohmatsu (logo)
Ex-99.1(b)
Deloitte & Touche (logo)
Deloitte & Touche 750 College Road East 3rd Floor Princeton, New Jersey 08540
Tel: (609) 514-3600 Fax: (609) 514-3603 www.deloitte.com
INDEPENDENT ACCOUNTANTS' REPORT
Board of Directors and Stockholder EMC Mortgage Corporation
We have examined the accompanying management assertion that EMC Mortgage Corporation (the "Company") (a wholly owned subsidiary of The Bear Stearns Companies Inc.) complied with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers as of and for the year ended November 30, 2002. Management is responsible for the Company's compliance with those requirements. Our responsibility is to express an opinion on management's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended November 30, 2002 is fairly stated, in all material respects.
/s/ Deloitte & Touche LLP
January 15, 2003
Deloitte Touche Tohmatsu (logo)
Ex-99.1(c)
Deloitte & Touche LLP Suite 1900 250 East Fifth St. P.O. Box 5340 Cincinnati, Ohio 45201-5340
Tel: (513) 784-7100 Fax: (513) 784-7204 www.deloitte.com
INDEPENDENT ACCOUNTANTS' REPORT
The Board of Directors of Fifth Third Mortgage Company:
We have examined management's assertion about Fifth Third Mortgage Company's (the "Company") compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2002 included in the accompanying management assertion. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards specified above and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of the year ended December 31, 2002 is fairly stated, in all material respects.
/s/ Deloitte & Touche LLP March 13, 2003
Deloitte Touche Tohmastsu
Ex-99.1(d)
PricewaterhouseCoopers (logo)
PricewaterhouseCoopers LLP 1301 K Street, NW, Suite 800W Washington DC 20005-3333 Telephone (202) 414 1000
Report of Independent Accountants
To the Board of Directors and Supervisory Committee of Navy Federal Credit Union
We have examined management's assertion about Navy Federal Credit Union's (the "Credit Union") compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2002 included in the accompanying management assertion (see Exhibit I). Management is responsible for the Credit Union's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Credit Union's compliance based on our examination.
Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Credit Union's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Credit Union's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Credit Union complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2002 is fairly stated, in all material respects.
/s/ PricewaterhouseCoopers LLP
February 6, 2003
Ex-99.1(e)
PRICEWATERHOUSECOOPERS (logo)
PricewaterhouseCoopers LLP 1751 Pinnacle Drive Mclean VA 22102-3811 Telephone (703) 918 3000 Facsimile (703) 918 3100
Report of Independent Accountants
To the Board of Directors and Stockholder of SunTrust, Inc. and Subsidiaries:
We have examined management's assertion about SunTrust Mortgage, Inc. and its subsidiaries (the "Company") compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2002 included in the accompanying management assertion (see Exhibit I). Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was made in accordance with the attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2002 is fairly stated, in all material respects.
/s/ PricewaterhouseCoopers LLP February 24, 2003
Ex-99.1(f)
New Jersey Headquarters 150 John F Kennedy Parkway Short Hills, NJ 07078
The Board of Directors The Trust Company of New Jersey:
Independent Accountants' Report
We have examined management's assertion that The Trust Company of New Jersey (the Bank) complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers as of and for the year ended December 31, 2002. Management is responsible for the Bank's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Bank's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Bank's compliance with the minimum servicing standards specified above and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Bank's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Bank complied with the aforementioned minimum servicing standards during the year ended December 31, 2002 is fairly stated, in all material respects.
/s/ KPMG LLP
March 4, 2003
KPMG LLP. KPMG LLP, a US limited liability partnership, is a member of KPMG International a Swiss association.
Ex-99.1(g)
KPMG (logo)
Suite 700 301 N. Elm Street Greensboro, NC 27401
Independent Accountants' Report
The Board of Directors Wendover Financial Services Corporation:
We have examined Wendover Financial Services Corporation's (an indirect wholly owned subsidiary of Electronic Data Systems Corporation) (Wendover), complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers for the year ended December 31, 2002. Management is responsible for the Wendover's compliance with those minimum servicing standards. Our responsibility is to express an opinion on Wendover's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Wendover's compliance with the minimum servicing standards specified above and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Wendover's compliance with the minimum servicing standards.
Our examination disclosed the following material noncompliance with Sections I.1 and V.3 of the aforementioned minimum servicing standards applicable to Wendover as of and for the year ended December 31, 2002.
Custodial Bank and Related Accounts-Reconciliations (Section I.1)
The following exceptions occurred during the period from January 1, 2002 through June 30, 2002:
* Of the 235 custodial bank accounts reconciliations tested, 16 were not consistently prepared within 45 calendar days after the cutoff date.
* Of the 235 reconciliations tested, 10 accounts contained reconciling items that either were stale (over 90 days old) or for which an adequate explanation was not documented on the reconciliation.
* Individuals responsible for reconciling and reviewing custodial accounts also had authority to record transactions in the accounts.
Ex-99.2(a)
Commercial Federal Bank (logo)
Management's Assertion
As of and for the year ended December 31, 2002, Commercial Federal Bank (the "Bank") has complied in all material respects with the minimum servicing standards as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation for Mortgage Bankers. As of and for this same period, the Bank had in effect a fidelity policy in the amount of $20,000,000 and errors and omissions policy in the amount of $17,000,000.
/s/ R.A. Campbell R.A. Campbell, Senior Vice President, Mortgage Operations February 6, 2003
450 Regency Parkway Omaha, Nebraska 68114
Ex-99.2(b)
EMC Mortgage Corporation (logo)
January 15, 2003
As of and for the year ended November 30, 2002, EMC Mortgage Corporation (the "Company") (a wholly owned subsidiary of The Bear Stearns Companies, Inc.), has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers.
As of November 30, 2002 and for the year then ended, the company had in effect a fidelity bond in the amount of $200,000,000, and errors and omissions liability coverage in the amount of $10,000,000 on any individual mortgage impairment claim.
/s/ Ralene Ruyle Ralene Ruyle, President
/s/ Beverly A. Sibblies Beverly A. Sibblies, Executive Vice President
/s/ Scott D. Samlin Scott D. Samlin, Senior Vice President
Two MacArthur Ridge, 909 Hidden Ridge Drive, Suite 200, Irving Texas 75038 Mailing Address: P.O. Box 141358 Irving, Texas 75014-1358
Member Mortgage Bankers Association of America (logo)
Ex-99.2(c)
Fifth Third Bank (logo)
March 13, 2003
Deloitte & Touche 250 East Fifth Street Cincinnati, Ohio 45201
As of and for the year ended December 31, 2002, Fifth Third Mortgage Company (the "Company") has complied in all material respects with the minimum servicing standards as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation for Mortgage Bankers. As of and for this same period, the Company had in effect an errors and omissions policy in the amount of $5,000,000 per mortgage and coverage on fidelity bond of $50,000,000 from January 1, 2002 to June 30, 2002 and $75,000,000 from July 1, 2002 to December 31, 2002.
/s/ Michael D. Baker Michael D. Baker Executive Vice President
/s/ Scott Enders Scott Enders Vice President & CFO - Consumer
/s/ David Powell David Powell Vice President
Ex-99.2(d)
Navy Federal Credit Union (logo)
P.O. Box 3000 * Merrifield VA * 22119-3000 In reply refer to account no.
Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards
February 6, 2003
As of and for the year ended 31 December 2002, Navy Federal Credit Union ("Navy Federal") has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP").
As of and for this same period, Navy Federal had in effect a Fidelity Bond and Errors and Omissions policy in the amounts of $15,000,000 and $500,000 per mortgage, respectively.
/s/ Louis W. Jennings Louis W. Jennings Executive Vice President Mortgage Lending
/s/ Latisa M. Head Latisa M. Head Vice President Mortgage Servicing
Ex-99.2(e)
SUN TRUST (logo)
Sun Trust Mortgage, Inc. 901 Semmes Avenue Richmond, VA 23224
Exhibit I
Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards
February 24, 2003
As of and for the year ended December 31, 2002, SunTrust Mortgage, Inc. and its subsidiaries (the "Company") have complied in all material respects with the minimum servicing standards set forth in the mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP")(see Exhibit II).
As of and for this same period, the Company had in effect a SunTrust Banks, Inc. fidelity bond and errors and omissions policy in the amount of $125 million and a SunTrust Banks, Inc. mortgage errors and omissions policy in the amount of $45 million.
/s/ Robert S. Reynolds Robert S. Reynolds Executive Vice President & Chief Administrative Officer
/s/ Julee W. Andrews Julee W. Andrews Senior Vice President, Treasurer & Chief Financial Officer
/s/ Kathryn Pedon Kathryn Pedon Senior Vice President, Manager, Loan Administration Division
Ex-99.2(f)
TRUSTCOMPANY BANK (logo) THE BANK WITH HEART SINCE 1896
Management Assertion
As of and for the year ended December 31, 2002, the Trust Company of New Jersey (the Bank), complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for this same period, the Bank had in effect a fidelity bond policy in the amount of $25,000,000 with annual aggregate of $50,000,000 and errors and omissions policy in the amount of $10,000,000.
/s/ Francis Bianchi Francis Bianchi First Vice President Consolidated Loan Operations
March 4, 2003
THE TRUST COMPANY OF NEW JERSEY * 35 JOURNAL SQUARE * JERSEY CITY, NEW JERSEY 07306
Ex-99.2(g)
Wendover an EDS company (logo)
Management Assertion
As of and for the year ended December 31, 2002, Wendover Financial Services Corporation (an indirect wholly-owned subsidiary of Electronic Data Systems Corporation) (Wendover) complied in all material respects, except for the matters described below, with the minimum servicing standards as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation for Mortgage Bankers. As of and for this same period, Wendover had in effect a fidelity bond policy and of omissions policy in the amount of $20,000,000 from January 1, 2002 through June 30, 2002 and $25,000,000 from July 1, 2002 through December 31, 2002.
As of and for the year ended December 31, 2002, Wendover noted the following instances of noncompliance with Sections I.1 and V.3 of the aforementioned minimum servicing standards.
Custodial Bank and Related Accounts- Reconciliations (Section I.1)
The following exceptions occurred during the period from January 1, 2002 through June 30, 2002:
* Of the 235 custodial bank account reconciliations tested, 16 were not consistently prepared within 45 calendar days after the cutoff.
* Of the 235 reconciliations tested, 10 accounts contained reconciling items that either were stale (over 90 days old) or for which an adequate explanation was not documented on the reconciliation.
* Individuals responsible for reconciling and reviewing custodial accounts also had authority to record transactions in the accounts.
/s/ Mark J. DeBenedictus /s/ John S. Wilkinson Mark DeBenedictus John S. Wilkinson President Vice President, Chief Financial Officer
March 27, 2003 March 27, 2003 Date Date
725 North Regional Road Greensboro, NC 27409
(800) 436-1050 (336) 668-7000
Ex-99.3(a)
Commercial Federal Bank (logo)
March 28, 2003
Structured Asset Mortgage Investments, Inc. 383 Madison Avenue New York, New York 10179
Attention: Vice President, Servicing
RE: Officer's Certificate
Ladies and Gentlemen:
The undersigned officer certifies the following for the 2002 calendar year.
a) I have reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of each Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Servicer Guide (the "Agreements") pursuant to which the Servicer services mortgage Loans and to the best of my knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the Servicer to perform any such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to Structured Asset Mortgage Investments, Inc. ("SAMI");
b) I have confirmed that the Servicer is currently an approved FNMA or FHLMC Servicer in good standing;
c) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Agreements are in full force and effect;
d) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that such insurance policies are in full force and effect;
e) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgage Property, have been paid, or if any such costs or expenses have been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to SAMI;
f) All Custodial Accounts have been reconciled and are properly funded; and
g) All annual reports of Foreclosure and Abandonment of Mortgaged Property required per section 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified by: /s/ Karen J. Kennedy Officer Director - Loan Servicing Commercial Federal Bank
Date: March 31, 2003
Ex-99.3(b)
EMC Mortgage Corporation (logo)
Officer's Certificate
I, Sue Stepanek, Executive Vice President of EMC Mortgage Corporation, do hereby certify to Wells Fargo, the "Company," that in respect to the period ending November 30, 2002, a review of the activities of EMC Mortgage Corporation and it's performance under the Selling and Servicing Agreements, Pooling and Servicing Agreement, or other Agreement therein has been made under my supervision. To the best of my knowledge, based on such review, "EMC" has performed and fulfilled its duties, responsibilities and obligations in all material respects with the terms and provisions under said Agreements throughout such year, if there has been a default in the fulfillment of any such duties, responsibilities or obligations, specifying each such default known to such Servicing Officer the nature and status thereof has been reported to the Company.
/s/ Sue Stepanek Sue Stepanek, Executive Vice President
3/28/03 Date
Two MacArthur Ridge 909 Hidden Ridge Drive, Suite 200 Irving, TX 75067
Ex-99.3(c)
March 28, 2003
Structured Asset Mortgage Investments, Inc. 383 Madison Avenue New York, New York 10179 Attention: Vice President, Servicing
RE: Officer's Certificate
Ladies and Gentlemen:
The undersigned officer certifies the following for the 2002 calendar year.
a) I have reviewed the activities and performances of the Servicer during the preceding fiscal year under the terms of each Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Servicer Guide (the "Agreements") pursuant to which the Servicer services mortgage Loans and to the best of my knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the Servicer to perform any such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to Structured Asset Mortgage Investments, In. ("SAMI");
b) I have confirmed that the Servicer is currently an approved FNMA or FHLMC Servicer in good standing;
c) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Agreements are in full force and effect;
d) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each mortgaged property, have been paid and that such insurance policies are in full force and effect;
e) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgage Property, have been paid, or if any such costs or expenses have been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to SAMI;
f) All Custodial Accounts have been reconciled and are properly funded; and
g) All annual reports of Foreclosure and Abandonment of Mortgaged Property required per section 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified by:
/s/ Officer
Fifth Third Bank Director-Loan Servicing Vice President Title
3/28/03 Date
Ex-99.3(d)
Navy Federal Credit Union (logo)
PO Box 3000 * Merrifield VA * 22119-3000 In reply refer to account no.
Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045 Attention: Master Servicing
RE: Officer's Certificate
Dear Master Servicer:
The undersigned Officer certifies the following for the 2002 fiscal year:
(A) I have reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of these Officers' knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the servicer to perform any such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to Wells Fargo Bank Minnesota, N.A.;
(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing;
(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide are in full force and effect;
(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect;
(E) All real estate taxes, governmental assessments and any expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to Wells Fargo Bank Minnesota, N.A.;
(F) All Custodial Accounts have been reconciled and are property funded; and
(G) All annual reports of Foreclosure and Abandonment of Mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified By: /s/ Latisa M. Head Officer Latisa M. Head
Vice President Mortgage Servicing Title
March 20, 2003 Date
Ex-99.3(e)
SunTrust Mortgage, Inc. Post Office Box 26149 Richmond, VA 23260-6149 Toll Free 1-800-634-7928 www.suntrustmortgage.com
SunTrust (logo)
NORWEST BANK ATTN: SUSAN GIBSON 11000 BROKEN LAND PKWY COLUMBIA, MD 21044-3562 2ND FLOOR LOAN ACCTING
RE: ANNUAL SERVICING CERTIFICATION
In connection with the loans serviced by SunTrust Mortgage, Inc. for NORWEST BANK, I, the undersigned officer, hereby certify the following as December 31, 2002:
* All real estate taxes, special assessments and any charges that may become a lien upon the property and which became due in the last calendar year have been paid. This also includes the verification of payment with taxing authorities for non-impound mortgages.
* For those loans with escrow/impound accounts for the payment of taxes and insurance, sufficient amounts are being collected monthly to provide for payment of future amounts due.
* All FHA insurance premiums or private mortgage insurance premiums, if applicable, have been paid and such coverage is in full force and effect.
* All properties are adequately insured against casualty loss and, if applicable, flood loss and we are in possession of the original hazard insurance and flood insurance policies.
* Fidelity Bond coverage and Errors and Omissions coverage combined of $125,000,000 is adequate and in place and the applicable premiums have been paid.
* All interest and/or monthly payments adjustments for ARM and GPM loans have been made in accordance with the mortgage terms. Timely and proper notice of such changes was provided to the mortgagors.
* All property inspections have been completed according to the provisions of our Servicing Agreement, if applicable.
* The P&I custodial account and any clearing accounts are maintained in a depository institution the deposits of which are insured by the Bank Insurance Fund. The depository institution meets or exceeds the most recent financial rating requirements set forth by FNMA.
* We have complied with all other provisions of the Servicing Agreement.
* We are in compliance with IRS requirements and all federal, state, and local laws for reporting the receipt of interest, payment of fees, or acquisition of properties.
* To the best of my knowledge and upon reasonable investigation, the servicing of the Mortgage Loans during the preceding year has been conducted in compliance with all other provision of the Servicing Agreement(s)/Purchase and Sale Agreement(s) barring such exceptions as listed. Any exceptions to this certification are listed on an attachment along with explanations concerning their completion. If none are listed, it should be considered that there are no exceptions.
BY: /s/ Michael Patten DATE: March 10, 2003 (signature) Michael Patten, VP (name and title)
Ex-99.3(f)
TRUSTCOMPANY BANK THE BANK WITH HEART SINCE 1896 (logo)
OFFICER'S CERTIFICATE
I, Frank Bianchi, the First Vice President of The Trust Company of New Jersey (the "Company"), certify to Bank One, National Association, as trustee for the holders of Structured Asset Mortgage Investments, Inc. Mortgage Pass-Through Certificates, Series 2002-4 (the "Purchaser"), pursuant to Section 6.04 of the Purchase, Warranties and Servicing Agreement (the "Agreement"), dated as of September 1, 2002, between the Company and EMC Mortgage Corporation (the "Purchaser's predecessor in interest under the Agreement"), that:
(i) A review of the activities of the Company during the preceding calendar year 2002 and of performance by the Company under the Agreement has been made under my supervision; and
(ii) To the best of my knowledge, based on such review, the Company has fulfilled all of its obligations under the Agreement throughout such year.
/s/ Frank Bianchi Name: Frank Bianchi Title: First Vice President Date: March 31, 2003
THE TRUST COMPANY OF NEW JERSEY * 35 JOURNAL SQUARE * JERSEY CITY, NEW JERSEY
Ex-99.3(g)
Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045 Attention: Master Servicing
RE: Officer's Certificate
Dear Master Servicer:
The undersigned officer certifies the following for the 2002 fiscal year:
(A) I have reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of these officers' knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the servicer to perform any of such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to Wells Fargo Bank Minnesota, N.A.;
(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing;
(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement Pooling and Servicing Agreement and/or Seller/ Servicer Guide are in full force and effect;
(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect;
(E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to Wells Fargo Bank Minnesota, NA.;
(F) All Custodial Accounts have been reconciled and are properly funded; and
(G) All annual reports of Foreclosure and Abandonment of Mortgage Property required per section 60S0H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified By:
/s/Diane S. Coats Diane S. Coats Officer
Vice President Title
April 11, 2003 Date
Ex-99.4 Schedule of Year-To-Date Principal and Interest Distributions to Certificateholders