-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QuCt84kad0WlT57UU+6dqBYlh5WGB0a7Hr+HV8YPlYYrb7nAw3OsJlq6fcFXe54/ wS+HpYbkcMrZDpCYO+VBLw== 0001166015-03-000001.txt : 20030129 0001166015-03-000001.hdr.sgml : 20030129 20030129134146 ACCESSION NUMBER: 0001166015-03-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021226 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SALOMON BROS MORT SEC VII SAL HOME EQU LN TR SER 2002 WMC1 CENTRAL INDEX KEY: 0001166015 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-63752-01 FILM NUMBER: 03529570 BUSINESS ADDRESS: STREET 1: 388 GREENWICH ST CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 2027851207 MAIL ADDRESS: STREET 1: 388 GREENWICH ST CITY: NEW YORK STATE: NY ZIP: 10013 8-K 1 sec8k.txt DEC 2002 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 25, 2002 SALOMON HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates Series 2002-WMC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-63752 04-3600038 Pooling and Servicing Agreement) (Commission (IRS EIN) (State or other jurisdiction File Number) of Incorporation) c/o Citibank, N.A. 399 Park Avenue New York, NY 10043 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 657-7781 (Former name or former address, if changed since last report) ITEM 5. Other Events On December 25, 2002 a distribution was made to holders of SALOMON HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2002-WMC1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K EX-99.1 Monthly report distributed to holders of SALOMON HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2002-WMC1 Trust, relating to the December 25, 2002 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: 12/25/2002 -------------- Filed on behalf of SALOMON HOME EQUITY LOAN TRUST, by Citibank N.A., as Trustee for Asset Backed Pass-Through Certificates, Series 2002-WMC1. By: ------------------------------ Karen Schluter, Assistant Vice President Company: Citibank N.A., not in its individual capacity, but solely as Trustee. EX-99 3 ex99.htm DEC 2002 CERTIFICATE HOLDERS STATEMENT Salomon Home Equity Loan Trust  Asset Backed Pass 
Salomon Home Equity Loan Trust  Asset Backed Pass-Through Certificates  Series 2002-WMC1
Distribution Date:     12/26/2002
Record Date:           11/29/2002
Distribution Summary
DISTRIBUTION IN DOLLARS
                                             Prior         Pass-                                                                                          Current
                       Original              Principal     Through         Interest     Principal       Total          Deferred               Realized    Principal
Class                  Balance               Balance       Rate            Distributed  Distributed     Distributed    Interest               Loss        Balance
(1)                    (2)                   (3)           (4)             (5)          (6)             (7)=(5+6)      (8)                    (9)         (10)=(3-6+8-9)
A                      202,990,000.00        170,209,767.981.777500%       260,527.33   8,171,533.90    8,432,061.23   0.00                   0.00        162,038,234.08
M1                     16,709,000.00         16,709,000.00 2.337500%       33,632.66    0.00            33,632.66      0.00                   0.00        16,709,000.00
M2                     13,616,000.00         13,616,000.00 2.987500%       35,028.11    0.00            35,028.11      0.00                   0.00        13,616,000.00
M3                     8,045,000.00          8,045,000.00  3.537500%       24,506.52    0.00            24,506.52      0.00                   0.00        8,045,000.00
M4                     2,475,000.00          2,475,000.00  3.887500%       8,285.23     0.00            8,285.23       0.00                   0.00        2,475,000.00
CE                     3,714,089.97          3,714,089.97  6.380665%       1,141,368.96 0.00            1,141,368.96   0.00                   0.00        3,714,089.97
P                      100.00                100.00        0.000000%       171,524.14   0.00            171,524.14     0.00                   0.00        100.00
R                      0.00                  0.00          0.000000%       0.00         0.00            0.00           0.00                   0.00        0.00
Totals                 247,549,189.97        214,768,957.95                1,674,872.95 8,171,533.90    9,846,406.85   0.00                   0.00        200,408,234.08
Distribution Summary (Factors)
PER $1,000 OF ORIGINAL BALANCE
                                             Prior                                                                                            Current
                                             Principal     Interest        Principal    Total           Deferred       Realized               Principal
                                                           Distributed
Class                  CUSIP                 Balance       (5/2 x 1000)    Distributed  Distributed     Interest       Loss                   Balance
                                             (3/2 x 1000)                  (6/2 x 1000) (7/2 x 1000)    (8/2 x 1000)   (9/2 x 1000)           (10/2 x
                                                                                                                                              1000)
A                      79549AKE8             838.513070    1.283449        40.255845    41.539294       0.000000       0.000000               798.257225
M1                     79549AKF5             1,000.000000  2.012847        0.000000     2.012847        0.000000       0.000000               1,000.000000
M2                     79549AKG3             1,000.000000  2.572570        0.000000     2.572570        0.000000       0.000000               1,000.000000
M3                     79549AKH1             1,000.000000  3.046180        0.000000     3.046180        0.000000       0.000000               1,000.000000
M4                     79549AKJ7             1,000.000000  3.347568        0.000000     3.347568        0.000000       0.000000               1,000.000000
CE                                           1,000.000000  307.307838      0.000000     307.307838      0.000000       0.000000               1,000.000000
P                                            1,000.000000  1,715,241.4000000.000000     1,715,241.4000000.000000       0.000000               1,000.000000
R                                            0.000000      0.000000        0.000000     0.000000        0.000000       0.000000               0.000000
Interest Distribution
Detail
DISTRIBUTION IN DOLLARS
                       Prior                 Pass-         Optimal         Prior        Non-Recov                                                         Current
                       Principal             Through       Accrued         Unpaid       Interest        Interest       Deferred               Interest    Unpaid
                                                                                                                                              Distributed
Class                  Balance               Rate          Interest        Interest     Shortfall       Due            Interest               (9)         Interest
(1)                    (2)                   (3)           (4)             (5)          (6)             (7)=(4)+(5)-(6)(8)                                (10)=(7)-(8)-(9)
A                      170,209,767.98        1.777500%     260,527.33      0.00         0.00            260,527.33     0.00                   260,527.33  0.00
M1                     16,709,000.00         2.337500%     33,632.66       0.00         0.00            33,632.66      0.00                   33,632.66   0.00
M2                     13,616,000.00         2.987500%     35,028.11       0.00         0.00            35,028.11      0.00                   35,028.11   0.00
M3                     8,045,000.00          3.537500%     24,506.52       0.00         0.00            24,506.52      0.00                   24,506.52   0.00
M4                     2,475,000.00          3.887500%     8,285.23        0.00         0.00            8,285.23       0.00                   8,285.23    0.00
CE                     3,714,089.97          6.380665%     1,141,974.06    0.00         605.10          1,141,368.96   0.00                   1,141,368.960.00
P                      100.00                0.000000%     171,524.14      0.00         0.00            171,524.14     0.00                   171,524.14  0.00
R                      0.00                  0.000000%     0.00            0.00         0.00            0.00           0.00                   0.00        0.00
  Totals               214,768,957.95                      1,675,478.05    0.00         605.10          1,674,872.95   0.00                   1,674,872.950.00
Principal Distribution
Detail
DISTRIBUTION IN DOLLARS
                                             Prior                                      Current         Current        Current                Cumulative
                       Original              Principal     Principal       Accreted     Realized        Principal      Principal              Realized
Class                  Balance               Balance       Distribution    Principal    Losses          Recoveries     Balance                Losses
(1)                    (2)                   (3)           (4)             (5)          (6)             (7)            (8)=(3)-(4)+(5)-(6)+(7)(9)
A                      202,990,000.00        170,209,767.988,171,533.90    0.00         0.00            0.00           162,038,234.08         0.00
M1                     16,709,000.00         16,709,000.00 0.00            0.00         0.00            0.00           16,709,000.00          0.00
M2                     13,616,000.00         13,616,000.00 0.00            0.00         0.00            0.00           13,616,000.00          0.00
M3                     8,045,000.00          8,045,000.00  0.00            0.00         0.00            0.00           8,045,000.00           0.00
M4                     2,475,000.00          2,475,000.00  0.00            0.00         0.00            0.00           2,475,000.00           0.00
CE                     3,714,089.97          3,714,089.97  0.00            0.00         0.00            0.00           3,714,089.97           0.00
P                      100.00                100.00        0.00            0.00         0.00            0.00           100.00                 0.00
R                      0.00                  0.00          0.00            0.00         0.00            0.00           0.00                   0.00
  Totals               241,360,000.00        214,768,957.958,171,533.90    353,694.62   8,171,533.90    0.00           206,597,424.05         0.00
Collateral Summary
ASSET CHARACTERISTICS
                       Cut-Off               Prior         Current
Aggregate Stated
Principal Balance      247,549,189.97        214,768,957.95206,597,424.05
Loan Count             1,476                 1,313         1,272
Weighted Average Coupon
Rate (WAC)             9.048883%             8.987647%     N/A
Net Weighted Average
Coupon Rate (Net WAC)  8.531383%             8.470147%     N/A
Weighted Average
Maturity (WAM in       357                   347           346
months)
AVAILABLE PRINCIPAL    AVAILABLE INTEREST
Scheduled Interest     1,608,556.52
Curtailments           -30,697.81
Add:Interest Additions 1,366.57
Net Liquidation
Proceeds               0.00
Less:Servicing Fees    89,487.08
Trustee Fees           3,132.10
Uncompensated PPIS     0.00
Relief Act Shortfall   605.10
Other Interest
Reductions             0.00
Current Realized Losses0.00
TOTAL AVAILABLE
INTEREST               1,516,698.81
Delinquency Information
                       30-59 Days            60-89 Days    90+ Days        Totals
Delinquency
Scheduled Principal
Balance                8,207,276.93          5,066,163.80  3,044,372.33    16,317,813.06
Percentage of Total
Pool Balance           3.9726%               2.4522%       1.4736%         7.8984%
Number of Loans        53                    31            22              106
Percentage of Total
Loans                  4.1667%               2.4371%       1.7296%         8.3333%
Bankruptcy
Scheduled Principal
Balance                330,052.09            0.00          2,125,967.93    2,456,020.02
Percentage of Total
Pool Balance           0.1598%               0.0000%       1.0290%         1.1888%
Number of Loans        2                     0             14              16
Percentage of Total
Loans                  0.1572%               0.0000%       1.1006%         1.2579%
Foreclosure
Scheduled Principal
Balance                0.00                  476,772.18    7,916,758.77    8,393,530.95
Percentage of Total
Pool Balance           0.0000%               0.2308%       3.8320%         4.0627%
Number of Loans        0                     4             42              46
Percentage of Total
Loans                  0.0000%               0.3145%       3.3019%         3.6164%
REO
Scheduled Principal
Balance                0.00                  0.00          2,533,599.49    2,533,599.49
Percentage of Total
Pool Balance           0.0000%               0.0000%       1.2263%         1.2263%
Number of Loans        0                     0             11              11
Percentage of Total
Loans                  0.0000%               0.0000%       0.8648%         0.8648%
Total
Scheduled Principal
Balance                8,537,329.02          5,542,935.98  15,620,698.52   29,700,963.52
Percentage of Total
Pool Balance           4.1324%               2.6830%       7.5609%         14.3763%
Number of Loans        55                    35            89              179
Percentage of Total
Loans                  4.3239%               2.7516%       6.9969%         14.0723%
Principal and Interest
Advances               2,886,074.27
Credit Enhancement
GROUP 1
Required
Overcollateralization  3,714,089.97          1.7977%
Amount
Prior
Overcollateralization  3,714,089.97          1.7293%
Amount
Overcollateralization
Deficiency Amount      0.00
Excess
Overcollateralization  0.00
Amount
Excess Spread Available
for O/C Deficiency     1,155,324.06
Overcollateralization
Increase Amount        0.00
Overcollateralization
Reduction Amount       0.00
Current
Overcollateralization  3,714,089.97          1.7977%
Credit Enhancement
Percentage             21.5681%
Other Information
A Next Pass-Through
Rate                   1.777500%
M1 Next Pass-Through
Rate                   2.337500%
M2 Next Pass-Through
Rate                   2.987500%
M3 Next Pass-Through
Rate                   3.537500%
M4 Next Pass-Through
Rate                   3.887500%
CE Prior Notional
Amount                 214,768,957.95
CE Current Notional
Amount                 206,597,424.05
CE Notional Certificate
Factor                 83.457120%
Prepayment Penalties
paid to Class P        171,524.14
Special Servicing Fee  13,350.00
Bankruptcy Losses      0.00
Extraordinary Trust
Fund Expenses          0.00
CONTACT INFORMATION    CONTENTS
Distribution Summary   2
                       Salomon Brothers
Depositor              Mortgage Securities
                       VII, Inc.
Distribution Summary
(Factors)              2
New York, NY  10013
Interest Distribution  2
Underwriter            Salomon Smith Barney,
                       Inc.
390 Greenwich Street
Principal Distribution 2
New York, NY  10013
Collateral Summary     2
5373 West Alabama
Delinquency Information2
Trustee                U.S. Bank National
                       Association
Credit Enhancement     2
St. Paul, MN  55101
Other Information      2
Trustee Administrator  Citibank, N.A.
111 Wall Street
New York, NY  10005
Deal Contact:          Karen Schluter        Citibank, N.A.
karen.schluter@citi.com                      Agency and
                                             Trust
                                             111 Wall
Tel: (212) 657-7781                          Street, 14th
                                             Floor, Zone 3
Fax: (212) 657-4009                          New York, NY
                                             10005
Page 1 of 1             Reports Available at (c) Copyright
                       www.sf.citidirect.com 2002 Citibank
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