8-K 1 msc02nc3.txt NOVEMBER 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): November 25, 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 November 25, 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 November 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. 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: 12/4/02 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 November 25, 2002 distribution. EX-99.1

Morgan Stanley Capital I Inc. Mortgage Pass-Through Certificates Record Date: ~~9/30/02~~ 10/2531/02 Distribution Date: 11/25/02 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 2.~~18375~~20000% ~~323~~320,~~176~~976,~~640~~631.5365 ~~588~~608,~~114~~072.1540 25,~~200~~635,~~008~~016.8862 A2 61746WSQ4 SEN 2.~~09375~~11000% ~~113~~112,~~821~~953,~~824~~498.8858 ~~198~~205,~~595~~230.3723 ~~868~~759,~~326~~294.3009 A3 61746WSW1 SEN 2.~~15375~~17000% 60,~~951~~486,~~092~~107.3539 ~~109~~113,~~394~~025.5101 ~~464~~406,~~984~~598.9668 M1 61746WSR2 SUB 2.~~53375~~55000% 35,323,000.00 7477,~~583~~563.0442 0.00 M2 61746WSS0 SUB 3.~~11375~~13000% 33,786,000.00 8791,~~667~~062.6365 0.00 B1 61746WST8 SUB 3.~~91375~~93000% 26,108,000.00 8588,~~150~~353.1582 0.00 B2 61746WSU5 SUB 4.~~21375~~23000% 7,679,000.00 2627,~~964~~970.4976 0.00 X 61746WSP6 IO 0.00000% 7,678,842.2827 2,~~883~~818,~~354~~459.5973 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% 0.0001 49121,~~298~~688.7436 0.00 Totals ~~608~~604,~~524~~991,~~400~~079.0490 4,~~103~~151,~~122~~426.6738 36,~~533~~800,~~320~~909.1439

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~320~~315,~~976~~341,~~631~~615.6503 26,~~788~~243,~~123~~089.0302 0.00 A2 0.00 112,~~953~~194,~~498~~204.5849 1964,~~066,921~~524.6732 0.00 A3 0.00 60,~~486~~079,~~107~~508.3970 ~~574~~519,~~379~~623.4769 0.00 M1 0.00 35,323,000.00 7477,~~583~~563.0442 0.00 M2 0.00 33,786,000.00 8791,~~667~~062.6365 0.00 B1 0.00 26,108,000.00 8588,~~150~~353.1582 0.00 B2 0.00 7,679,000.00 2627,~~964~~970.4976 0.00 X 0.00 7,678,842.27 2,~~883~~818,~~354~~459.5973 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 49121,~~298~~688.7436 0.00 Totals 0.00 ~~604~~598,~~991~~190,~~079~~170.9050 710,~~636~~952,~~442~~335.8177 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 ~~323~~320,~~176~~976,~~640~~631.5365 0.00 25,~~200~~635,~~008~~016.8862 0.00 0.00 A2 115,000,000.00 ~~113~~112,~~821~~953,~~824~~498.8858 0.00 ~~868~~759,~~326~~294.3009 0.00 0.00 A3 61,582,000.00 60,~~951~~486,~~092~~107.3539 0.00 ~~464~~406,~~984~~598.9668 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 7,678,842.2827 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 0.0001 0.00 0.00 0.00 0.00 Totals 614,307,382.22 ~~608~~604,~~524~~991,~~400~~079.0490 0.00 36,~~533~~800,~~320~~909.1439 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 25,~~200~~635,~~008~~016.8862 ~~320~~315,~~976~~341,~~631~~615.6503 0.~~98112985~~96390529 25,~~200~~635,~~008~~016.8862 A2 ~~868~~759,~~326~~294.3009 112,~~953~~194,~~498~~204.5849 0.~~98220434~~97560178 ~~868~~759,~~326~~294.3009 A3 ~~464~~406,~~984~~598.9668 60,~~486~~079,~~107~~508.3970 0.~~98220434~~97560178 ~~464~~406,~~984~~598.9668 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 36,~~533~~800,~~320~~909.1439 ~~604~~598,~~991~~190,~~079~~170.9050 0.~~98483446~~97376360 36,~~533~~800,~~320~~909.1439

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 327,150,000.00 ~~987~~981.~~85462488~~12985374 0.00000000 617.~~72477114~~22456555 0.00000000 A2 115,000,000.00 ~~989~~982.~~75499896~~20433548 0.00000000 76.~~55066348~~60255730 0.00000000 A3 61,582,000.00 ~~989~~982.~~75499903~~20433552 0.00000000 76.~~55066351~~60255724 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.~~92968966~~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 617.~~72477114~~22456555 ~~981~~963.~~12985374~~90528819 0.~~98112985~~96390529 617.~~72477114~~22456555 A2 0.00000000 76.~~55066348~~60255730 ~~982~~975.~~20433548~~60177817 0.~~98220434~~97560178 76.~~55066348~~60255730 A3 0.00000000 76.~~55066351~~60255724 ~~982~~975.~~20433552~~60177812 0.~~98220434~~97560178 76.~~55066351~~60255724 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 2.~~18375~~20000% ~~323~~320,~~176~~976,~~640~~631.5365 ~~588~~608,~~114~~072.1640 0.00 0.00 A2 115,000,000.00 2.~~09375~~11000% ~~113~~112,~~821~~953,~~824~~498.8858 ~~198~~205,~~595~~230.3723 0.00 0.00 A3 61,582,000.00 2.~~15375~~17000% 60,~~951~~486,~~092~~107.3539 ~~109~~113,~~394~~025.5101 0.00 0.00 M1 35,323,000.00 2.~~53375~~55000% 35,323,000.00 7477,~~583~~563.0442 0.00 0.00 M2 33,786,000.00 3.~~11375~~13000% 33,786,000.00 8791,~~667~~062.6365 0.00 0.00 B1 26,108,000.00 3.~~91375~~93000% 26,108,000.00 8588,~~150~~353.1582 0.00 0.00 B2 7,679,000.00 4.~~21375~~23000% 7,679,000.00 2627,~~964~~970.4976 0.00 0.00 X 7,679,382.22 0.00000% 7,678,842.2827 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% 0.0001 0.00 0.00 0.00 Totals 614,307,382.22 1,~~170~~211,~~469~~278.3529 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 ~~588~~608,~~114~~072.1540 0.00 ~~320~~315,~~976~~341,~~631~~615.6503 A2 0.00 0.00 ~~198~~205,~~595~~230.3723 0.00 112,~~953~~194,~~498~~204.5849 A3 0.00 0.00 ~~109~~113,~~394~~025.5101 0.00 60,~~486~~079,~~107~~508.3970 M1 0.00 0.00 7477,~~583~~563.0442 0.00 35,323,000.00 M2 0.00 0.00 8791,~~667~~062.6365 0.00 33,786,000.00 B1 0.00 0.00 8588,~~150~~353.1582 0.00 26,108,000.00 B2 0.00 0.00 2627,~~964~~970.4976 0.00 7,679,000.00 X 0.00 0.00 2,~~883~~818,~~354~~459.5973 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 49121,~~298~~688.7436 0.00 0.01 Totals 0.00 0.00 4,~~103~~151,~~122~~426.6738 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 2.~~18375~~20000% ~~987~~981.~~85462488~~12985374 1.~~79768962~~85869601 0.00000000 0.00000000 A2 115,000,000.00 2.~~09375~~11000% ~~989~~982.~~75499896~~20433548 1.~~72691626~~78461070 0.00000000 0.00000000 A3 61,582,000.00 2.~~15375~~17000% ~~989~~982.~~75499903~~20433552 1.~~77640398~~83535790 0.00000000 0.00000000 M1 35,323,000.00 2.~~53375~~55000% 1000.00000000 2.~~11145826~~19583331 0.00000000 0.00000000 M2 33,786,000.00 3.~~11375~~13000% 1000.00000000 2.~~59479163~~69527763 0.00000000 0.00000000 B1 26,108,000.00 3.~~91375~~93000% 1000.00000000 3.~~26145817~~38416654 0.00000000 0.00000000 B2 7,679,000.00 4.~~21375~~23000% 1000.00000000 3.~~51145852~~64250033 0.00000000 0.00000000 X 7,679,382.22 0.00000% 999.~~92968966~~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.~~79768959~~85869601 0.00000000 ~~981~~963.~~12985374~~90528819 A2 0.00000000 0.00000000 1.~~72691626~~78461070 0.00000000 ~~982~~975.~~20433548~~60177817 A3 0.00000000 0.00000000 1.~~77640398~~83535790 0.00000000 ~~982~~975.~~20433552~~60177812 M1 0.00000000 0.00000000 2.~~11145826~~19583331 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~59479163~~69527763 0.00000000 1000.00000000 B1 0.00000000 0.00000000 3.~~26145817~~38416654 0.00000000 1000.00000000 B2 0.00000000 0.00000000 3.~~51145852~~64250033 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~375~~367.~~46699818~~01646685 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 710,~~759~~965,~~685~~495.1391 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 89125,~~628~~788.4537 Realized Losses 0.00 Prepayment Penalties 49121,~~298~~688.7436 Total Deposits 711,~~898~~212,~~612~~972.3264 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~262~~260,~~169~~636.5187 Payment of Interest and Principal 710,~~636~~952,~~442~~335.8177 Total Withdrawals (Pool Distribution Amount) 711,~~898~~212,~~612~~972.3264 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~253~~252,~~551~~079.8361 Deutsche Bank Custodial Fee Premium ~~739~~735.4411 FSA Premium 5,~~691~~647.0967 Trustee Fee Wells Fargo Bank, N.A. 1,~~901~~890.6263 U.S. Bank Custodial Fee Premium ~~285~~283.5385 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~262~~260,~~169~~636.5187

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 49 0 0 49 ~~673~~1,~~639~~131,024.2654 0.00 0.00 ~~673~~1,~~639~~131,024.2654 30 Days 6160 02 0 0 6162 8,~~914~~182,~~041~~860.7499 0260,551.0077 0.00 0.00 8,~~914~~443,~~041~~412.7476 60 Days 13 0 1633 0 1736 37565,~~043~~086.3469 0.00 24,~~268~~496,~~419~~282.4280 0.00 25,~~305~~061,~~462~~369.7649 90 Days 0 0 016 0 016 0.00 0.00 02,242,641.0078 0.00 02,242,641.0078 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 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 6263 411 1649 0 82123 8,~~951~~747,~~085~~947.0868 ~~673~~1,~~639~~391,576.2631 26,~~268~~738,~~419~~924.4258 0.00 1116,~~893~~878,~~143~~448.7657 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.~~093963~~213371% 0.000000% 0.000000% 0.~~093963~~213371% 0.~~111347~~189074% 0.000000% 0.000000% 0.~~111347~~189074% 30 Days 1.~~432934~~422475% 0.~~000000~~047416% 0.000000% 0.000000% 1.~~432934~~469891% 1.~~473417~~367936% 0.~~000000~~043557% 0.000000% 0.000000% 1.~~473417~~411493% 60 Days 0.~~023491~~071124% 0.000000% 0.~~375852~~782361% 0.000000% 0.~~399342~~853485% 0.~~006123~~094466% 0.000000% 0.~~374951~~751648% 0.000000% 0.~~381074~~846114% 90 Days 0.000000% 0.000000% 0.~~000000~~379327% 0.000000% 0.~~000000~~379327% 0.000000% 0.000000% 0.~~000000~~374904% 0.000000% 0.~~000000~~374904% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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.~~456425~~493599% 0.~~093963~~260787% 01.~~375852~~161688% 0.000000% 12.~~926239~~916074% 1.~~479540~~462402% 0.~~111347~~232631% 01.~~374951~~126552% 0.000000% 12.~~965838~~821586%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 89125,~~628~~788.4537

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.~~511067~~509960% Weighted Average Net Coupon 8.~~011067~~009960% Weighted Average Pass-Through Rate 7.~~994075~~992988% Weighted Average Maturity(Stepdown Calculation ) ~~350~~349 Beginning Scheduled Collateral Loan Count 4,~~278~~257 Number Of Loans Paid In Full 2139 Ending Scheduled Collateral Loan Count 4,~~257~~218 Beginning Scheduled Collateral Balance ~~608~~604,~~524~~991,~~400~~079.0389 Ending Scheduled Collateral Balance ~~604~~598,~~991~~190,~~079~~170.8950 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2002 ~~604~~598,~~991~~190,~~079~~170.8950 Monthly P &I Constant 4,~~748~~723,~~339~~879.6074 Special Servicing Fee 0.00 Prepayment Penalties 49121,~~298~~688.7436 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~604~~598,~~991~~190,~~079~~170.8950 Scheduled Principal ~~432~~433,~~346~~504.0978 Unscheduled Principal 36,~~100~~367,~~974~~404.0561 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 ~~Extra principal distribution Amount 0.00 Excess Cash Amount 0.00~~

Miscellaneous Reporting Class A-2 Cert. Deficiency Amount $0.00 Interest Rate Cap Payment $0.00 Cumulative Loss Percentage 0.~~0000~~000000% 60+ Day Delinquent Percentage 01.~~381074~~221018% Trigger Event NO

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