8-K 1 msc02nc3.txt DECEMBER 8-K 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 26, 2002 MORGAN STANLEY DEAN WITTER CAPITAL I INC. Mortgage Pass-Through Certificates, Series 2002-NC3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-83986-06 52-7294447 Pooling and Servicing Agreement) (Commission 52-2365724 (State or other File Number) 52-2365725 jurisdiction IRS EIN of Incorporation) Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On December 26, 2002 a distribution was made to holders of MORGAN STANLEY DEAN WITTER CAPITAL I INC., Mortgage Pass-Through Certificates, Series 2002-NC3 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-NC3 Trust, relating to the December 26, 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. MORGAN STANLEY DEAN WITTER CAPITAL I INC. Mortgage Pass-Through Certificates, Series 2002-NC3 Trust By: Wells Fargo Bank Minnesota, NA as Trustee By: /s/ Beth Belfield, Assistance Vice President By: Beth Belfield, Assistance Vice President Date: 1/3/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-NC3 Trust, relating to the December 26, 2002 distribution. EX-99.1

Morgan Stanley Capital I Inc. Mortgage Pass-Through Certificates Record Date: 1011/3130/02 Distribution Date: 1112/2526/02 MSMC Series: 2002-NC3 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A1 61746WSP6 SEN 21.~~20000~~75000% ~~320~~315,~~976~~341,~~631~~615.6503 ~~608~~475,~~072~~202.4029 54,~~635~~617,~~016~~845.6235 A2 61746WSQ4 SEN 21.~~11000~~66000% 112,~~953~~194,~~498~~204.5849 ~~205~~160,~~230~~375.2338 ~~759~~1,~~294~~359,087.0935 A3 61746WSW1 SEN 21.~~17000~~72000% 60,~~486~~079,~~107~~508.3970 ~~113~~88,~~025~~984.0143 ~~406~~727,~~598~~785.6836 M1 61746WSR2 SUB 2.~~55000~~10000% 35,323,000.00 7763,~~563~~875.4276 0.00 M2 61746WSS0 SUB 32.~~13000~~68000% 33,786,000.00 9177,~~062~~970.6558 0.00 B1 61746WST8 SUB 3.~~93000~~48000% 26,108,000.00 8878,~~353~~236.8297 0.00 B2 61746WSU5 SUB 43.~~23000~~78000% 7,679,000.00 2724,~~970~~995.7615 0.00 X ~~61746WSP6~~MSC02NC3X IO 0.00000% 7,678,842.27 23,~~818~~014,~~459~~737.7393 0.00 R1 MSC02N3R1 RES 0.00000% 0.00 0.00 0.00 R2 MSC02N3R2 RES 0.00000% 0.00 0.00 0.00 P MSC02NC3P SEN 0.00000% 0.01 ~~121~~139,~~688~~202.3657 0.00 Totals ~~604~~598,~~991~~190,~~079~~170.9050 4,~~151~~123,~~426~~581.3806 6,~~800~~704,~~909~~718.3906

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~315~~310,~~341~~723,~~615~~769.0368 65,~~243~~093,~~089~~047.0264 0.00 A2 0.00 ~~112~~110,~~194~~835,~~204~~117.4915 ~~964~~1,~~524~~519,462.3273 0.00 A3 0.00 6059,~~079~~351,~~508~~723.7034 ~~519~~816,~~623~~769.6979 0.00 M1 0.00 35,323,000.00 7763,~~563~~875.4276 0.00 M2 0.00 33,786,000.00 9177,~~062~~970.6558 0.00 B1 0.00 26,108,000.00 8878,~~353~~236.8297 0.00 B2 0.00 7,679,000.00 2724,~~970~~995.7615 0.00 X 0.00 7,678,842.27 23,~~818~~014,~~459~~737.7393 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 P 0.00 0.01 ~~121~~139,~~688~~202.3657 0.00 Totals 0.00 ~~598~~591,~~190~~485,~~170~~452.5045 10,~~952~~828,~~335~~299.7712 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1 327,150,000.00 ~~320~~315,~~976~~341,~~631~~615.6503 0.00 54,~~635~~617,~~016~~845.6235 0.00 0.00 A2 115,000,000.00 112,~~953~~194,~~498~~204.5849 0.00 ~~759~~1,~~294~~359,087.0935 0.00 0.00 A3 61,582,000.00 60,~~486~~079,~~107~~508.3970 0.00 ~~406~~727,~~598~~785.6836 0.00 0.00 M1 35,323,000.00 35,323,000.00 0.00 0.00 0.00 0.00 M2 33,786,000.00 33,786,000.00 0.00 0.00 0.00 0.00 B1 26,108,000.00 26,108,000.00 0.00 0.00 0.00 0.00 B2 7,679,000.00 7,679,000.00 0.00 0.00 0.00 0.00 X 7,679,382.22 7,678,842.27 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 P 0.00 0.01 0.00 0.00 0.00 0.00 Totals 614,307,382.22 ~~604~~598,~~991~~190,~~079~~170.9050 0.00 6,~~800~~704,~~909~~718.3906 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 54,~~635~~617,~~016~~845.6235 ~~315~~310,~~341~~723,~~615~~769.0368 0.~~96390529~~94978991 54,~~635~~617,~~016~~845.6235 A2 ~~759~~1,~~294~~359,087.0935 ~~112~~110,~~194~~835,~~204~~117.4915 0.~~97560178~~96378363 ~~759~~1,~~294~~359,087.0935 A3 ~~406~~727,~~598~~785.6836 6059,~~079~~351,~~508~~723.7034 0.~~97560178~~96378363 ~~406~~727,~~598~~785.6836 M1 0.00 35,323,000.00 1.00000000 0.00 M2 0.00 33,786,000.00 1.00000000 0.00 B1 0.00 26,108,000.00 1.00000000 0.00 B2 0.00 7,679,000.00 1.00000000 0.00 X 0.00 7,678,842.27 0.99992969 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 P 0.00 0.01 0.00000000 0.00 Totals 6,~~800~~704,~~909~~718.3906 ~~598~~591,~~190~~485,~~170~~452.5045 0.~~97376360~~96284933 6,~~800~~704,~~909~~718.3906

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 327,150,000.00 ~~981~~963.~~12985374~~90528819 0.00000000 1714.~~22456555~~11537628 0.00000000 A2 115,000,000.00 ~~982~~975.~~20433548~~60177817 0.00000000 611.~~60255730~~81815087 0.00000000 A3 61,582,000.00 ~~982~~975.~~20433552~~60177812 0.00000000 611.~~60255724~~81815076 0.00000000 M1 35,323,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 33,786,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 26,108,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 7,679,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 7,679,382.22 999.92968835 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 1714.~~22456555~~11537628 ~~963~~949.~~90528819~~78991191 0.~~96390529~~94978991 1714.~~22456555~~11537628 A2 0.00000000 611.~~60255730~~81815087 ~~975~~963.~~60177817~~78362739 0.~~97560178~~96378363 611.~~60255730~~81815087 A3 0.00000000 611.~~60255724~~81815076 ~~975~~963.~~60177812~~78362736 0.~~97560178~~96378363 611.~~60255724~~81815076 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 999.92968835 0.99992969 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 327,150,000.00 21.~~20000~~75000% ~~320~~315,~~976~~341,~~631~~615.6503 ~~608~~475,~~072~~202.4029 0.00 0.00 A2 115,000,000.00 21.~~11000~~66000% 112,~~953~~194,~~498~~204.5849 ~~205~~160,~~230~~375.2338 0.00 0.00 A3 61,582,000.00 21.~~17000~~72000% 60,~~486~~079,~~107~~508.3970 ~~113~~88,~~025~~984.0143 0.00 0.00 M1 35,323,000.00 2.~~55000~~10000% 35,323,000.00 7763,~~563~~875.4276 0.00 0.00 M2 33,786,000.00 32.~~13000~~68000% 33,786,000.00 9177,~~062~~970.6558 0.00 0.00 B1 26,108,000.00 3.~~93000~~48000% 26,108,000.00 8878,~~353~~236.8297 0.00 0.00 B2 7,679,000.00 43.~~23000~~78000% 7,679,000.00 2724,~~970~~995.7615 0.00 0.00 X 7,679,382.22 0.00000% 7,678,842.27 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 Totals 614,307,382.22 1969,~~211,278~~640.2956 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1 0.00 0.00 ~~608~~475,~~072~~202.4029 0.00 ~~315~~310,~~341~~723,~~615~~769.0368 A2 0.00 0.00 ~~205~~160,~~230~~375.2338 0.00 ~~112~~110,~~194~~835,~~204~~117.4915 A3 0.00 0.00 ~~113~~88,~~025~~984.0143 0.00 6059,~~079~~351,~~508~~723.7034 M1 0.00 0.00 7763,~~563~~875.4276 0.00 35,323,000.00 M2 0.00 0.00 9177,~~062~~970.6558 0.00 33,786,000.00 B1 0.00 0.00 8878,~~353~~236.8297 0.00 26,108,000.00 B2 0.00 0.00 2724,~~970~~995.7615 0.00 7,679,000.00 X 0.00 0.00 23,~~818~~014,~~459~~737.7393 0.00 7,678,842.27 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 ~~121~~139,~~688~~202.3657 0.00 0.01 Totals 0.00 0.00 4,~~151~~123,~~426~~581.3806 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A1 327,150,000.00 21.~~20000~~75000% ~~981~~963.~~12985374~~90528819 1.~~85869601~~45255170 0.00000000 0.00000000 A2 115,000,000.00 21.~~11000~~66000% ~~982~~975.~~20433548~~60177817 1.~~78461070~~39456852 0.00000000 0.00000000 A3 61,582,000.00 21.~~17000~~72000% ~~982~~975.~~20433552~~60177812 1.~~83535790~~44497467 0.00000000 0.00000000 M1 35,323,000.00 2.~~55000~~10000% 1000.00000000 21.~~19583331~~80833338 0.00000000 0.00000000 M2 33,786,000.00 32.~~13000~~68000% 1000.00000000 2.~~69527763~~30777778 0.00000000 0.00000000 B1 26,108,000.00 3.~~93000~~48000% 1000.00000000 32.~~38416654~~99666654 0.00000000 0.00000000 B2 7,679,000.00 43.~~23000~~78000% 1000.00000000 3.~~64250033~~25500065 0.00000000 0.00000000 X 7,679,382.22 0.00000% 999.92968835 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1 0.00000000 0.00000000 1.~~85869601~~45255170 0.00000000 ~~963~~949.~~90528819~~78991191 A2 0.00000000 0.00000000 1.~~78461070~~39456852 0.00000000 ~~975~~963.~~60177817~~78362739 A3 0.00000000 0.00000000 1.~~83535790~~44497467 0.00000000 ~~975~~963.~~60177812~~78362736 M1 0.00000000 0.00000000 21.~~19583331~~80833338 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~69527763~~30777778 0.00000000 1000.00000000 B1 0.00000000 0.00000000 32.~~38416654~~99666654 0.00000000 1000.00000000 B2 0.00000000 0.00000000 3.~~64250033~~25500065 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~367~~392.~~01646685~~57558012 0.00000000 999.92968835 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 10,~~965~~781,~~495~~543.9106 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~125~~165,~~788~~285.3739 Realized Losses 0.00 Prepayment Penalties ~~121~~139,~~688~~202.3657 Total Deposits 11,~~212~~086,~~972~~031.6402 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~260~~257,~~636~~731.8790 Payment of Interest and Principal 10,~~952~~828,~~335~~299.7712 Total Withdrawals (Pool Distribution Amount) 11,~~212~~086,~~972~~031.6402 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~252~~249,~~079~~245.6184 Deutsche Bank Custodial Fee Premium ~~735~~725.11 FSA Premium 5,~~647~~609.6771 Trustee Fee Wells Fargo Bank, N.A. 1,~~890~~869.6333 U.S. Bank Custodial Fee Premium ~~283~~281.8591 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~260~~257,~~636~~731.8790

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 910 0 0 910 1,~~131~~036,~~024~~192.5421 0.00 0.00 1,~~131~~036,~~024~~192.5421 30 Days 6066 2 0 0 6268 89,~~182~~930,~~860~~260.9931 ~~260~~320,~~551~~561.7774 0.00 0.00 810,~~443~~250,~~412~~822.7605 60 Days 10 3 021 33 0 3634 ~~565~~1,~~086~~531,652.6992 0170,341.0023 42,~~496~~951,~~282~~712.8054 0.00 54,~~061~~653,~~369~~706.4969 90 Days 0 02 1626 0 1628 0.00 0138,030.0033 24,~~242~~036,~~641~~602.7802 0.00 24,~~242~~174,~~641~~632.7835 120 Days 0 0 014 0 014 0.00 0.00 01,893,996.0095 0.00 01,893,996.0095 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 6376 1117 4961 0 ~~123~~154 811,~~747~~461,~~947~~913.6823 1,~~391~~665,~~576~~125.3151 68,~~738~~882,~~924~~311.5851 0.00 1622,~~878~~009,~~448~~350.5725 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~213371~~239292% 0.000000% 0.000000% 0.~~213371~~239292% 0.~~189074~~175185% 0.000000% 0.000000% 0.~~189074~~175185% 30 Days 1.~~422475~~579325% 0.~~047416~~047858% 0.000000% 0.000000% 1.~~469891~~627184% 1.~~367936~~678868% 0.~~043557~~054196% 0.000000% 0.000000% 1.~~411493~~733064% 60 Days 0.~~071124~~239292% 0.~~000000~~071788% 0.~~782361~~502513% 0.000000% 0.~~853485~~813592% 0.~~094466~~258950% 0.~~000000~~028799% 0.~~751648~~499034% 0.000000% 0.~~846114~~786783% 90 Days 0.000000% 0.~~000000~~047858% 0.~~379327~~622158% 0.000000% 0.~~379327~~670017% 0.000000% 0.~~000000~~023336% 0.~~374904~~682452% 0.000000% 0.~~374904~~705788% 120 Days 0.000000% 0.000000% 0.~~000000~~335008% 0.000000% 0.~~000000~~335008% 0.000000% 0.000000% 0.~~000000~~320210% 0.000000% 0.~~000000~~320210% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.~~493599~~818617% 0.~~260787~~406796% 1.~~161688~~459679% 0.000000% 23.~~916074~~685092% 1.~~462402~~937818% 0.~~232631~~281516% 1.~~126552~~501696% 0.000000% 23.~~821586~~721030%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~125~~165,~~788~~285.3739

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.~~509960~~509890% Weighted Average Net Coupon 8.~~009960~~009890% Weighted Average Pass-Through Rate 7.~~992988~~992867% Weighted Average Maturity (Stepdown Calculation ) ~~349~~348 Beginning Scheduled Collateral Loan Count 4,~~257~~218 Number Of Loans Paid In Full 39 Ending Scheduled Collateral Loan Count 4,~~218~~179 Beginning Scheduled Collateral Balance ~~604~~598,~~991~~190,~~079~~170.8950 Ending Scheduled Collateral Balance ~~598~~591,~~190~~485,~~170~~452.5044 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~598~~591,~~190~~485,~~170~~452.5044 Monthly P &I Constant 4,~~723~~674,~~879~~659.7432 Special Servicing Fee 0.00 Prepayment Penalties ~~121~~139,~~688~~202.3657 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~598~~591,~~190~~485,~~170~~452.5044 Scheduled Principal ~~433~~432,~~504~~548.7879 Unscheduled Principal 6,~~367~~272,~~404~~169.6127 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 7,678,842.28 Overcollateralized Amount 7,678,842.28 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

Miscellaneous Reporting Class A-2 Cert. Deficiency Amount $0.00 Interest Rate Cap Payment $0.00 Cumulative Loss Percentage 0.000000% 60+ Day Delinquent Percentage 1.~~221018~~812781% Trigger Event NO

Filing Compare · MORGAN STANLEY DEAN WITTER CAPITAL I INC TRUST 2002-NC3