Document:

<PAGE>

                                  EXHIBIT 10.1

CONTACT:    CUSTOMER SERVICES -- CTSLINK
            WELLS FARGO BANK MINNESOTA, N.A.
            SECURITIES ADMINISTRATION SERVICES
            7485 NEW HORIZON WAY
            FREDERICK, MD  21703
            WWW.CTSLINK.COM
            TELEPHONE: (301) 815-6600
            FAX:       (301) 315-6660

                               SMT SERIES 2002-11
                         RECORD DATE: FEBRUARY 27, 2004
                        DISTRIBUTION DATE: MARCH 22, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                     Certificate    Certificate
                        Class      Pass-Through        Beginning               Interest               Principal
Class      CUSIP     Description       Rate       Certificate Balance        Distribution            Distribution
-----    ---------   -----------   ------------   -------------------       --------------           ------------
<S>      <C>         <C>           <C>            <C>                       <C>                      <C>
  A      81744AAA6       SEN         1.54125%       584,215,375.34             750,351.62            7,588,876.33
 X-1A    81744AAC2        IO         0.92588%                 0.00             131,438.51                    0.00
 X-1B    81744AAD0        IO         1.11677%                 0.00             385,159.58                    0.00
 X-B     81744AAE8        IO         0.54111%                 0.00               4,385.71                    0.00
 A-R     81744AAF5       SEN         3.24970%                 0.00                   0.00                    0.00
 B-1     81744AAB4       SUB         2.06125%         9,726,000.00              16,706.43                    0.00
 B-2     81744AAG3       SUB         2.60236%         5,764,000.00              12,500.01                    0.00
 B-3     81744AAH1       SUB         2.60236%         3,962,000.00               8,592.13                    0.00
 B-4     SMT0211B4       SUB         2.60236%         1,801,000.00               3,905.71                    0.00
 B-5     SMT0211B5       SUB         2.60236%         1,080,000.00               2,342.13                    0.00
 B-6     SMT0211B6       SUB         2.60236%         2,882,787.00               6,251.71                    0.00
                                                    --------------           ------------            ------------
Totals                                              609,431,162.34           1,321,633.54            7,588,876.33
                                                    --------------           ------------            ------------

<CAPTION>
                        Current         Ending Certificate            Total              Cumulative
Class      CUSIP     Realized Loss            Balance             Distribution          Realized Loss
-----    ---------   -------------      ------------------        ------------          -------------
<S>      <C>         <C>                <C>                       <C>                   <C>
  A      81744AAA6        0.00            576,626,499.01          8,339,227.95               0.00
 X-1A    81744AAC2        0.00                      0.00            131,438.51               0.00
 X-1B    81744AAD0        0.00                      0.00            385,159.58               0.00
 X-B     81744AAE8        0.00                      0.00              4,385.71               0.00
 A-R     81744AAF5        0.00                      0.00                  0.00               0.00
 B-1     81744AAB4        0.00              9,726,000.00             16,706.43               0.00
 B-2     81744AAG3        0.00              5,764,000.00             12,500.01               0.00
 B-3     81744AAH1        0.00              3,962,000.00              8,592.13               0.00
 B-4     SMT0211B4        0.00              1,801,000.00              3,905.71               0.00
 B-5     SMT0211B5        0.00              1,080,000.00              2,342.13               0.00
 B-6     SMT0211B6        0.00              2,882,787.00              6,251.71               0.00
                          ----            --------------          ------------               ----
Totals                    0.00            601,842,286.01          8,910,509.87               0.00
                          ----            --------------          ------------               ----
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                             Beginning        Scheduled      Unscheduled
           Original Face    Certificate       Principal        Principal                Realized
Class         Amount           Balance       Distribution    Distribution    Accretion  Loss (1)
------    --------------   --------------    ------------    ------------    ---------  --------
<S>       <C>              <C>               <C>             <C>             <C>        <C>
  A       695,210,000.00   584,215,375.34        0.01        7,588,876.32       0.00      0.00
 X-1A               0.00             0.00        0.00                0.00       0.00      0.00
 X-1B               0.00             0.00        0.00                0.00       0.00      0.00
 X-B                0.00             0.00        0.00                0.00       0.00      0.00
 A-R              100.00             0.00        0.00                0.00       0.00      0.00
 B-1        9,726,000.00     9,726,000.00        0.00                0.00       0.00      0.00
 B-2        5,764,000.00     5,764,000.00        0.00                0.00       0.00      0.00
 B-3        3,962,000.00     3,962,000.00        0.00                0.00       0.00      0.00
 B-4        1,801,000.00     1,801,000.00        0.00                0.00       0.00      0.00
 B-5        1,080,000.00     1,080,000.00        0.00                0.00       0.00      0.00
 B-6        2,882,787.00     2,882,787.00        0.00                0.00       0.00      0.00
          --------------   --------------        ----        ------------       ----      ----
Totals    720,425,887.00   609,431,162.34        0.01        7,588,876.32       0.00      0.00
          --------------   --------------        ----        ------------       ----      ----

<CAPTION>
          Total Principal     Ending Certificate    Ending Certificate         Total Principal
Class        Reduction             Balance              Percentage               Distribution
------    ---------------     ------------------    ------------------         ---------------
<S>       <C>                 <C>                   <C>                        <C>
  A         7,588,876.33        576,626,499.01          0.82942780               7,588,876.33
 X-1A               0.00                  0.00          0.00000000                       0.00
 X-1B               0.00                  0.00          0.00000000                       0.00
 X-B                0.00                  0.00          0.00000000                       0.00
 A-R                0.00                  0.00          0.00000000                       0.00
 B-1                0.00          9,726,000.00          1.00000000                       0.00
 B-2                0.00          5,764,000.00          1.00000000                       0.00
 B-3                0.00          3,962,000.00          1.00000000                       0.00
 B-4                0.00          1,801,000.00          1.00000000                       0.00
 B-5                0.00          1,080,000.00          1.00000000                       0.00
 B-6                0.00          2,882,787.00          1.00000000                       0.00
            ------------        --------------          ----------               ------------
Totals      7,588,876.33        601,842,286.01          0.83539792               7,588,876.33
            ------------        --------------          ----------               ------------
</TABLE>

(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 FACTORS STATEMENT

<TABLE>
<CAPTION>
                             Beginning        Scheduled      Unscheduled
           Original Face    Certificate       Principal       Principal
Class         Amount          Balance        Distribution    Distribution    Accretion
------    --------------   --------------    ------------    ------------    ----------
<S>       <C>              <C>               <C>             <C>             <C>
  A       695,210,000.00     840.34374554     0.00000001      10.91594816    0.00000000
 X-1A               0.00       0.00000000     0.00000000       0.00000000    0.00000000
 X-1B               0.00       0.00000000     0.00000000       0.00000000    0.00000000
 X-B                0.00       0.00000000     0.00000000       0.00000000    0.00000000
 A-R              100.00       0.00000000     0.00000000       0.00000000    0.00000000
 B-1        9,726,000.00    1000.00000000     0.00000000       0.00000000    0.00000000
 B-2        5,764,000.00    1000.00000000     0.00000000       0.00000000    0.00000000
 B-3        3,962,000.00    1000.00000000     0.00000000       0.00000000    0.00000000
 B-4        1,801,000.00    1000.00000000     0.00000000       0.00000000    0.00000000
 B-5        1,080,000.00    1000.00000000     0.00000000       0.00000000    0.00000000
 B-6        2,882,787.00    1000.00000000     0.00000000       0.00000000    0.00000000

<CAPTION>
                                                  Ending
           Realized     Total Principal         Certificate       Ending Certificate         Total Principal
Class      Loss (3)        Reduction              Balance             Percentage              Distribution
------    ----------    ---------------        -------------      ------------------         ---------------
<S>       <C>           <C>                    <C>                <C>                        <C>
  A       0.00000000      10.91594817           829.42779737          0.82942780               10.91594817
 X-1A     0.00000000       0.00000000             0.00000000          0.00000000                0.00000000
 X-1B     0.00000000       0.00000000             0.00000000          0.00000000                0.00000000
 X-B      0.00000000       0.00000000             0.00000000          0.00000000                0.00000000
 A-R      0.00000000       0.00000000             0.00000000          0.00000000                0.00000000
 B-1      0.00000000       0.00000000          1000.00000000          1.00000000                0.00000000
 B-2      0.00000000       0.00000000          1000.00000000          1.00000000                0.00000000
 B-3      0.00000000       0.00000000          1000.00000000          1.00000000                0.00000000
 B-4      0.00000000       0.00000000          1000.00000000          1.00000000                0.00000000
 B-5      0.00000000       0.00000000          1000.00000000          1.00000000                0.00000000
 B-6      0.00000000       0.00000000          1000.00000000          1.00000000                0.00000000
</TABLE>

(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                     Beginning                       Payment of
                                                   Certificate/         Current        Unpaid       Current
           Original Face         Current             Notional           Accrued       Interest      Interest
 Class        Amount         Certificate Rate         Balance          Interest       Shortfall    Shortfall
------    --------------     ----------------     --------------     ------------    ----------    ---------
<S>       <C>                <C>                  <C>                <C>             <C>           <C>
  A       695,210,000.00         1.54125%         584,215,375.34       750,351.62       0.00          0.00
 X-1A               0.00         0.92588%         170,352,451.10       131,438.51       0.00          0.00
 X-1B               0.00         1.11677%         413,862,924.24       385,159.58       0.00          0.00
  X-B               0.00         0.54111%           9,726,000.00         4,385.71       0.00          0.00
  A-R             100.00         3.24970%                   0.00             0.00       0.00          0.00
  B-1       9,726,000.00         2.06125%           9,726,000.00        16,706.43       0.00          0.00
  B-2       5,764,000.00         2.60236%           5,764,000.00        12,500.01       0.00          0.00
  B-3       3,962,000.00         2.60236%           3,962,000.00         8,592.13       0.00          0.00
  B-4       1,801,000.00         2.60236%           1,801,000.00         3,905.71       0.00          0.00
  B-5       1,080,000.00         2.60236%           1,080,000.00         2,342.13       0.00          0.00
  B-6       2,882,787.00         2.60236%           2,882,787.00         6,251.71       0.00          0.00
          --------------                                             ------------       ----          ----
Totals    720,425,887.00                                             1,321,633.54       0.00          0.00
          --------------                                             ------------       ----          ----

<CAPTION>
             Non-                                      Remaining        Ending
          Supported                                      Unpaid      Certificate/
           Interest    Realized    Total Interest      Interest       Notational
 Class    Shortfall    Loss (4)     Distribution       Shortfall        Balance
------    ---------    --------    --------------      ---------    --------------
<S>       <C>          <C>         <C>                 <C>          <C>
   A         0.02        0.00         750,351.62          0.00      576,626,499.01
 X-1A        0.00        0.00         131,438.51          0.00      167,901,820.69
 X-1B        0.00        0.00         385,159.58          0.00      408,724,678.32
  X-B        0.00        0.00           4,385.71          0.00        9,726,000.00
  A-R        0.00        0.00               0.00          0.00                0.00
  B-1        0.00        0.00          16,706.43          0.00        9,726,000.00
  B-2        0.00        0.00          12,500.01          0.00        5,764,000.00
  B-3        0.00        0.00           8,592.13          0.00        3,962,000.00
  B-4        0.00        0.00           3,905.71          0.00        1,801,000.00
  B-5        0.00        0.00           2,342.13          0.00        1,080,000.00
  B-6        0.00        0.00           6,251.71          0.00        2,882,787.00
             ----        ----       ------------          ----
Totals       0.02        0.00       1,321,633.54          0.00
             ----        ----       ------------          ----
</TABLE>

(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                  Payment of
                               Current        Beginning                             Unpaid        Current
Class     Original Face      Certificate     Certificate/      Current Accrued     Interest       Interest
 (5)         Amount              Rate       Notional Balance        Interest      Shortfall      Shortfall
-----     --------------     -----------    ----------------   ---------------    ----------     ----------
<S>       <C>                <C>            <C>                <C>                <C>            <C>
 A        695,210,000.00       1.54125%        840.34374554       1.07931649      0.00000000     0.00000000
X-1A                0.00       0.92588%        888.35637046       0.68542740      0.00000000     0.00000000
X-1B                0.00       1.11677%        822.05610862       0.76504264      0.00000000     0.00000000
 X-B                0.00       0.54111%       1000.00000000       0.45092638      0.00000000     0.00000000
 A-R              100.00       3.24970%          0.00000000       0.00000000      0.00000000     0.00000000
 B-1        9,726,000.00       2.06125%       1000.00000000       1.71770820      0.00000000     0.00000000
 B-2        5,764,000.00       2.60236%       1000.00000000       2.16863463      0.00000000     0.00000000
 B-3        3,962,000.00       2.60236%       1000.00000000       2.16863453      0.00000000     0.00000000
 B-4        1,801,000.00       2.60236%       1000.00000000       2.16863409      0.00000000     0.00000000
 B-5        1,080,000.00       2.60236%       1000.00000000       2.16863889      0.00000000     0.00000000
 B-6        2,882,787.00       2.60236%       1000.00000000       2.16863403      0.00000000     0.00000000

<CAPTION>
              Non-                                        Remaining
          Supported                                        Unpaid
Class      Interest        Realized      Total Interest    Interest     Ending Certificate/
 (5)      Shortfall        Loss (6)       Distribution    Shortfall      Notational Balance
-----     ----------      ----------     --------------   ----------    -------------------
<S>       <C>             <C>            <C>              <C>           <C>
 A        0.00000003      0.00000000       1.07931649     0.00000000        829.42779737
X-1A      0.00000000      0.00000000       0.68542740     0.00000000        875.57678835
X-1B      0.00000000      0.00000000       0.76504264     0.00000000        811.85000849
 X-B      0.00000000      0.00000000       0.45092638     0.00000000       1000.00000000
 A-R      0.00000000      0.00000000       0.00000000     0.00000000          0.00000000
 B-1      0.00000000      0.00000000       1.71770820     0.00000000       1000.00000000
 B-2      0.00000000      0.00000000       2.16863463     0.00000000       1000.00000000
 B-3      0.00000000      0.00000000       2.16863453     0.00000000       1000.00000000
 B-4      0.00000000      0.00000000       2.16863409     0.00000000       1000.00000000
 B-5      0.00000000      0.00000000       2.16863889     0.00000000       1000.00000000
 B-6      0.00000000      0.00000000       2.16863403     0.00000000       1000.00000000
</TABLE>

(5) Per $1 denomination

(6) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                                                                              <C>
Beginning Balance                                                                                                0.00

Deposits
            Payments of Interest and Principal                                                           9,097,925.35
            Liquidations, Insurance Proceeds, Reserve Funds                                                      0.00
            Proceeds from Repurchased Loans                                                                      0.00
            Other Amounts (Servicer Advances)                                                                  988.95
            Realized Losses                                                                                      0.00
            Prepayment Penalties                                                                                 0.00
                                                                                                         ------------
Total Deposits                                                                                           9,098,914.30

Withdrawals
            Reimbursement for Servicer Advances                                                              1,077.08
            Payment of Service Fee                                                                         187,327.34
            Payment of Interest and Principal                                                            8,910,509.88
                                                                                                         ------------
Total Withdrawals (Pool Distribution Amount)                                                             9,098,914.30

Ending Balance                                                                                                   0.00
                                                                                                         ============
</TABLE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                                                                       <C>
Total Prepayment/Curtailment Interest Shortfall                                                           0.00
Servicing Fee Support                                                                                     0.00
                                                                                                          ----
Non-Supported Prepayment Curtailment Interest Shortfall                                                   0.00
                                                                                                          ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                                                  <C>
Gross Servicing Fee                                                                                  183,772.32
Master Servicing Fee                                                                                   3,555.02
Supported Prepayment/Curtailment Interest Shortfall                                                        0.00
                                                                                                     ----------
Net Servicing Fee                                                                                    187,327.34
                                                                                                     ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                       Beginning                Current                Current             Ending
           Account Type                                 Balance               Withdrawals             Deposits            Balance
---------------------------------                      ---------              -----------             --------            --------
<S>                                                    <C>                    <C>                     <C>                 <C>
Class X-1 Basis Risk Reserve Fund                      5,000.00                  0.00                   0.00              5,000.00
Class X-B Basis Risk Reserve Fund                      5,000.00                  0.00                   0.00              5,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
           DELINQUENT                           BANKRUPTCY                         FORECLOSURE
---------------------------------  ---------------------------------   --------------------------------
              No. of    Principal               No. of     Principal                No. of    Principal
               Loans     Balance                Loans      Balance                  Loans      Balance
<S>         <C>        <C>         <C>         <C>         <C>         <C>         <C>        <C>
0-29 Days        0           0.00  0-29 Days       0         0.00      0-29 Days      0          0.00
30 Days          0           0.00  30 Days         0         0.00      30 Days        0          0.00
60 Days          0           0.00  60 Days         0         0.00      60 Days        0          0.00
90 Days          0           0.00  90 Days         0         0.00      90 Days        0          0.00
120 Days         1     431,542.26  120 Days        0         0.00      120 Days       0          0.00
150 Days         0           0.00  150 Days        0         0.00      150 Days       0          0.00
180+ Days        0           0.00  180+ Days       0         0.00      180+ Days      0          0.00
               ---     ----------                ---         ----                   ---          ----
                 1     431,542.26                  0         0.00                     0          0.00

             No. of    Principal                No. of     Principal                No. of    Principal
              Loans     Balance                  Loans      Balance                 Loans      Balance

0-29 Days   0.000000%    0.000000% 0-29 Days   0.000000%    0.000000%  0-29 Days   0.000000%   0.000000%
30 Days     0.000000%    0.000000% 30 Days     0.000000%    0.000000%  30 Days     0.000000%   0.000000%
60 Days     0.000000%    0.000000% 60 Days     0.000000%    0.000000%  60 Days     0.000000%   0.000000%
90 Days     0.000000%    0.000000% 90 Days     0.000000%    0.000000%  90 Days     0.000000%   0.000000%
120 Days    0.057208%    0.071704% 120 Days    0.000000%    0.000000%  120 Days    0.000000%   0.000000%
150 Days    0.000000%    0.000000% 150 Days    0.000000%    0.000000%  150 Days    0.000000%   0.000000%
180+ Days   0.000000%    0.000000% 180+ Days   0.000000%    0.000000%  180+ Days   0.000000%   0.000000%
            --------   ----------              --------    ---------               --------   ---------
            0.057208%    0.071704%             0.000000%    0.000000%              0.000000%   0.000000%

<CAPTION>
                REO                                TOTAL
--------------------------------     ----------------------------------
              No. of   Principal                   No. of     Principal
               Loans    Balance                     Loans      Balance
<S>          <C>       <C>           <C>          <C>        <C>
0-29 Days        0        0.00       0-29 Days        0            0.00
30 Days          0        0.00       30 Days          0            0.00
60 Days          0        0.00       60 Days          0            0.00
90 Days          0        0.00       90 Days          0            0.00
120 Days         0        0.00       120 Days         1      431,542.26
150 Days         0        0.00       150 Days         0            0.00
180+ Days        0        0.00       180+ Days        0            0.00
               ---        ----                      ---      ----------
                 0        0.00                        1      431,542.26

              No. of   Principal                   No. of    Principal
              Loans     Balance                    Loans      Balance

0-29 Days    0.000000%  0.000000%    0-29 Days    0.000000%    0.000000%
30 Days      0.000000%  0.000000%    30 Days      0.000000%    0.000000%
60 Days      0.000000%  0.000000%    60 Days      0.000000%    0.000000%
90 Days      0.000000%  0.000000%    90 Days      0.000000%    0.000000%
120 Days     0.000000%  0.000000%    120 Days     0.057208%    0.071704%
150 Days     0.000000%  0.000000%    150 Days     0.000000%    0.000000%
180+ Days    0.000000%  0.000000%    180+ Days    0.000000%    0.000000%
             --------  ---------                  --------   ----------
             0.000000%  0.000000%                 0.057208%    0.071704%
</TABLE>

<TABLE>
<S>                                          <C>     <C>                                           <C>    <C>                <C>
Current Period Class A Insufficient Funds:   0.00    Principal Balance of Contaminated Properties  0.00    Periodic Advance  988.95
</TABLE>

<PAGE>

Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage

<TABLE>
<CAPTION>
                   Original $        Original %        Current $       Current %       Current Class %     Prepayment %
                  -------------      ----------      -------------     ----------      --------------      ------------
<S>               <C>                <C>             <C>               <C>             <C>                 <C>
 Class A          25,215,787.00      3.50012228%     25,215,787.00     4.18976659%          95.810233%         0.000000%
Class X-1-A       25,215,787.00      3.50012228%     25,215,787.00     4.18976659%           0.000000%         0.000000%
Class X-1-B       25,215,787.00      3.50012228%     25,215,787.00     4.18976659%           0.000000%         0.000000%
Class B-1         15,489,787.00      2.15008751%     15,489,787.00     2.57372859%           1.616038%        38.571075%
Class B-2          9,725,787.00      1.35000521%      9,725,787.00     1.61600260%           0.957726%        22.858696%
Class B-3          5,763,787.00      0.80005273%      5,763,787.00     0.95769060%           0.658312%        15.712379%
Class B-4          3,962,787.00      0.55006172%      3,962,787.00     0.65844277%           0.299248%         7.142351%
Class B-5          2,882,787.00      0.40015039%      2,882,787.00     0.47899376%           0.179449%         4.283031%
Class B-6                  0.00      0.00000000%              0.00     0.00000000%           0.478994%        11.432469%
</TABLE>

Please refer to the prospectus supplement for a full description of loss
exposure

<TABLE>
<CAPTION>
                         Original $                    Original %                 Current $                  Current %
<S>                    <C>                             <C>                      <C>                          <C>
    Bankruptcy            119,754.00                   0.01662267%                 119,754.00                0.01989790%
         Fraud         21,612,777.00                   3.00000005%              12,860,062.82                2.13678286%
Special Hazard         11,600,000.00                   1.61015869%              11,600,000.00                1.92741525%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                           Mixed ARM
<S>                                                                            <C>
Weighted Average Gross Coupon                                                        2.971218%
Weighted Average Net Coupon                                                          2.609362%
Weighted Average Pass-Through Rate                                                   2.602362%
Weighted Average Maturity (Stepdown Calculation)                                          310

Beginning Scheduled Collateral Loan Count                                               1,766
Number of Loans Paid in Full                                                               18
Ending Scheduled Collateral Loan Count                                                  1,748

Beginning Scheduled Collateral Balance                                         609,431,162.34
Ending Scheduled Collateral Balance                                            601,842,286.01
Ending Actual Collateral Balance at 27-Feb-2004                                601,840,930.16

Monthly P&I Constant                                                             1,508,960.93
Special Servicing Fee                                                                    0.00
Prepayment Penalties                                                                     0.00
Realization Loss Amount                                                                  0.00
Cumulative Realized Loss                                                                 0.00

Class A Optimal Amount                                                           8,339,227.95

Ending Scheduled Balance for Premium Loans                                     601,842,286.01

Scheduled Principal                                                                      0.01
Unscheduled Principal                                                            7,588,876.32
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                                           <C>
Pro Rata Senior Percentage                                                                        95.862406%
Senior Percentage                                                                                100.000000%
Senior Prepayment Percentage                                                                     100.000000%
Subordinate Percentage                                                                             0.000000%
Subordinate Prepayment Percentage                                                                  0.000000%
One Month LIBOR Loan Balance                                                                  175,244,141.16
Six Month LIBOR Loan Balance                                                                  426,598,144.85
</TABLE><PAGE>

                                  EXHIBIT 10.1

CONTACT: CUSTOMER SERVICES -- CTSLINK
         WELLS FARGO BANK MINNESOTA, N.A.
         SECURITIES ADMINISTRATION SERVICES
         7485 NEW HORIZON WAY
         FREDERICK, MD  21703
         WWW.CTSLINK.COM
         TELEPHONE:        (301) 815-6600
         FAX:              (301) 315-6660

                               SMT SERIES 2002-12
                         RECORD DATE: FEBRUARY 27, 2004
                        DISTRIBUTION DATE: MARCH 22, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                           Certificate       Certificate
                              Class          Pass-Through          Beginning          Interest         Principal       Current
Class          CUSIP       Description           Rate        Certificate Balance    Distribution     Distribution   Realized Loss
-----          -----       -----------           ----        -------------------    ------------     ------------   -------------
<S>          <C>           <C>               <C>             <C>                    <C>              <C>            <C>
  A          81744BAA4         SEN             1.54125%         928,925,338.18      1,193,088.49     8,425,245.29        0.00
 X-1         81744BAB2          IO             0.82092%                   0.00        154,600.27             0.00        0.00
 X-2         81744BAC0          IO             1.05565%                   0.00        633,169.36             0.00        0.00
 A-R         81744BAD8         SEN             3.16280%                   0.00              0.00             0.00        0.00
 B-1         81744BAE6         SUB             1.94125%          16,815,000.00         27,201.77             0.00        0.00
 B-2         81744BAF3         SUB             2.54792%           8,968,000.00         19,041.46             0.00        0.00
 B-3         81744BAG1         SUB             2.54792%           6,165,000.00         13,089.95             0.00        0.00
 B-4         SMT0212B4         SUB             2.54792%           2,802,000.00          5,949.40             0.00        0.00
 B-5         SMT0212B5         SUB             2.54792%           1,681,000.00          3,569.21             0.00        0.00
 B-6         SMT0212B6         SUB             2.54792%           4,486,095.46          9,525.18             0.00        0.00
             ---------         ---             -------          --------------      ------------     ------------        ----
Totals                                                          969,842,433.64      2,059,235.09     8,425,245.29        0.00
                                                                --------------      ------------     ------------        ----

<CAPTION>
                        Ending Certificate      Total         Cumulative
Class          CUSIP          Balance        Distribution    Realized Loss
-----          -----          -------        ------------    -------------
<S>          <C>        <C>                 <C>              <C>
  A          81744BAA4     920,500,092.89    9,618,333.78         0.00
 X-1         81744BAB2               0.00      154,600.27         0.00
 X-2         81744BAC0               0.00      633,169.36         0.00
 A-R         81744BAD8               0.00            0.00         0.00
 B-1         81744BAE6      16,815,000.00       27,201.77         0.00
 B-2         81744BAF3       8,968,000.00       19,041.46         0.00
 B-3         81744BAG1       6,165,000.00       13,089.95         0.00
 B-4         SMT0212B4       2,802,000.00        5,949.40         0.00
 B-5         SMT0212B5       1,681,000.00        3,569.21         0.00
 B-6         SMT0212B6       4,486,095.46        9,525.18         0.00
             ---------     --------------   -------------         ----
Totals                     961,417,188.35   10,484,480.38         0.00
                           --------------   -------------         ----
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                  Beginning         Scheduled     Unscheduled
            Original Face        Certificate        Principal      Principal                      Realized   Total Principal
Class          Amount              Balance         Distribution   Distribution      Accretion     Loss (1)      Reduction
-----          ------              -------         ------------   ------------      ---------     --------      ---------
<S>       <C>                  <C>                 <C>            <C>               <C>           <C>        <C>
  A       1,080,076,000.00     928,925,338.18          0.00       8,425,245.29         0.00          0.00      8,425,245.29
 X-1                  0.00               0.00          0.00               0.00         0.00          0.00              0.00
 X-2                  0.00               0.00          0.00               0.00         0.00          0.00              0.00
 A-R                100.00               0.00          0.00               0.00         0.00          0.00              0.00
 B-1         16,815,000.00      16,815,000.00          0.00               0.00         0.00          0.00              0.00
 B-2          8,968,000.00       8,968,000.00          0.00               0.00         0.00          0.00              0.00
 B-3          6,165,000.00       6,165,000.00          0.00               0.00         0.00          0.00              0.00
 B-4          2,802,000.00       2,802,000.00          0.00               0.00         0.00          0.00              0.00
 B-5          1,681,000.00       1,681,000.00          0.00               0.00         0.00          0.00              0.00
 B-6          4,486,095.46       4,486,095.46          0.00               0.00         0.00          0.00              0.00
          ----------------     --------------          ----       ------------         ----          ----      ------------
Totals    1,120,993,195.46     969,842,433.64          0.00       8,425,245.29         0.00          0.00      8,425,245.29
          ----------------     --------------          ----       ------------         ----          ----      ------------

<CAPTION>
          Ending Certificate    Ending Certificate  Total Principal
Class           Balance             Percentage       Distribution
-----           -------             ----------       ------------
<S>       <C>                   <C>                 <C>
  A         920,500,092.89          0.85225493        8,425,245.29
 X-1                  0.00          0.00000000                0.00
 X-2                  0.00          0.00000000                0.00
 A-R                  0.00          0.00000000                0.00
 B-1         16,815,000.00          1.00000000                0.00
 B-2          8,968,000.00          1.00000000                0.00
 B-3          6,165,000.00          1.00000000                0.00
 B-4          2,802,000.00          1.00000000                0.00
 B-5          1,681,000.00          1.00000000                0.00
 B-6          4,486,095.46          1.00000000                0.00
            --------------          ----------        ------------
Totals      961,417,188.35          0.85764766        8,425,245.29
            --------------          ----------        ------------
</TABLE>

(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 FACTORS STATEMENT

<TABLE>
<CAPTION>
                                  Beginning      Scheduled        Unscheduled
            Original Face        Certificate     Principal         Principal                    Realized      Total Principal
Class          Amount              Balance      Distribution      Distribution   Accretion      Loss (3)         Reduction
-----          ------              -------      ------------      ------------   ---------      --------         ---------
<S>       <C>                   <C>             <C>               <C>            <C>           <C>            <C>
  A       1,080,076,000.00       860.05553144    0.00000000        7.80060411    0.00000000    0.00000000        7.80060411
 X-1                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
 X-2                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
 A-R                100.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
 B-1         16,815,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
 B-2          8,968,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
 B-3          6,165,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
 B-4          2,802,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
 B-5          1,681,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000
 B-6          4,486,095.46      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000        0.00000000

<CAPTION>
             Ending
           Certificate       Ending Certificate   Total Principal
Class        Balance             Percentage        Distribution
-----        -------             ----------        ------------
<S>       <C>                <C>                  <C>
  A        852.25492733          0.85225493         7.80060411
 X-1         0.00000000          0.00000000         0.00000000
 X-2         0.00000000          0.00000000         0.00000000
 A-R         0.00000000          0.00000000         0.00000000
 B-1      1000.00000000          1.00000000         0.00000000
 B-2      1000.00000000          1.00000000         0.00000000
 B-3      1000.00000000          1.00000000         0.00000000
 B-4      1000.00000000          1.00000000         0.00000000
 B-5      1000.00000000          1.00000000         0.00000000
 B-6      1000.00000000          1.00000000         0.00000000
</TABLE>

(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                                                    Payment of                     Non-
                                                   Beginning          Current         Unpaid        Current     Supported
            Original Face          Current        Certificate/        Accrued        Interest       Interest    Interest   Realized
Class          Amount         Certificate Rate  Notional Balance      Interest       Shortfall     Shortfall    Shortfall  Loss (4)
-----          ------         ----------------  ----------------      --------       ---------     ---------    ---------  --------
<S>       <C>                 <C>               <C>                <C>              <C>            <C>          <C>        <C>
  A       1,080,076,000.00         1.54125%      928,925,338.18    1,193,088.48         0.00          0.00        (0.01)     0.00
 X-1                  0.00         0.82092%      225,991,122.33      154,600.26         0.00          0.00         0.00      0.00
 X-2                  0.00         1.05565%      719,749,215.85      633,169.36         0.00          0.00         0.00      0.00
 A-R                100.00         3.16280%                0.00            0.00         0.00          0.00         0.00      0.00
 B-1         16,815,000.00         1.94125%       16,815,000.00       27,201.77         0.00          0.00         0.00      0.00
 B-2          8,968,000.00         2.54792%        8,968,000.00       19,041.46         0.00          0.00         0.00      0.00
 B-3          6,165,000.00         2.54792%        6,165,000.00       13,089.95         0.00          0.00         0.00      0.00
 B-4          2,802,000.00         2.54792%        2,802,000.00        5,949.40         0.00          0.00         0.00      0.00
 B-5          1,681,000.00         2.54792%        1,681,000.00        3,569.21         0.00          0.00         0.00      0.00
 B-6          4,486,095.46         2.54792%        4,486,095.46        9,525.18         0.00          0.00         0.00      0.00
          ----------------         -------       --------------    ------------         ----          ----        -----      ----
Totals    1,120,993,195.46                                         2,059,235.07         0.00          0.00        (0.01)     0.00
          ----------------                                         ------------         ----          ----        -----      ----

<CAPTION>
                              Remaining       Ending
                               Unpaid      Certificate/
          Total Interest      Interest      Notational
Class      Distribution       Shortfall       Balance
-----      ------------       ---------       -------
<S>       <C>                 <C>         <C>
  A        1,193,088.49          0.00     920,500,092.89
 X-1         154,600.27          0.00     224,345,509.30
 X-2         633,169.36          0.00     712,969,583.59
 A-R               0.00          0.00               0.00
 B-1          27,201.77          0.00      16,815,000.00
 B-2          19,041.46          0.00       8,968,000.00
 B-3          13,089.95          0.00       6,165,000.00
 B-4           5,949.40          0.00       2,802,000.00
 B-5           3,569.21          0.00       1,681,000.00
 B-6           9,525.18          0.00       4,486,095.46
           ------------          ----     --------------
Totals     2,059,235.09          0.00
           ------------          ----
</TABLE>

(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                              Payment of                    Non-
                              Current        Beginning                          Unpaid      Current      Supported
Class       Original Face   Certificate     Certificate     Current Accrued    Interest     Interest      Interest       Realized
 (5)           Amount           Rate     Notional Balance       Interest      Shortfall     Shortfall    Shortfall       Loss (6)
 ---           ------           ----     ----------------       --------      ---------     ---------    ---------       --------
<S>       <C>               <C>          <C>                <C>               <C>          <C>           <C>            <C>
  A       1,080,076,000.00    1.54125%      860.05553144       1.10463382     0.00000000   0.00000000    0.00000000     0.00000000
 X-1                  0.00    0.82092%      904.99858052       0.61910846     0.00000000   0.00000000    0.00000000     0.00000000
 X-2                  0.00    1.05565%      849.58574738       0.74738763     0.00000000   0.00000000    0.00000000     0.00000000
 A-R                100.00    3.16280%        0.00000000       0.00000000     0.00000000   0.00000000    0.00000000     0.00000000
 B-1         16,815,000.00    1.94125%     1000.00000000       1.61770859     0.00000000   0.00000000    0.00000000     0.00000000
 B-2          8,968,000.00    2.54792%     1000.00000000       2.12326717     0.00000000   0.00000000    0.00000000     0.00000000
 B-3          6,165,000.00    2.54792%     1000.00000000       2.12326845     0.00000000   0.00000000    0.00000000     0.00000000
 B-4          2,802,000.00    2.54792%     1000.00000000       2.12326909     0.00000000   0.00000000    0.00000000     0.00000000
 B-5          1,681,000.00    2.54792%     1000.00000000       2.12326591     0.00000000   0.00000000    0.00000000     0.00000000
 B-6          4,486,095.46    2.54792%     1000.00000000       2.12326735     0.00000000   0.00000000    0.00000000     0.00000000

<CAPTION>
                          Remaining
                            Unpaid
Class     Total Interest   Interest      Ending Certificate/
 (5)       Distribution   Shortfall      Notational Balance
 ---       ------------   ---------      ------------------
<S>       <C>             <C>            <C>
  A         1.10463383    0.00000000         852.25492733
 X-1        0.61910850    0.00000000         898.40859839
 X-2        0.74738763    0.00000000         841.58312812
 A-R        0.00000000    0.00000000           0.00000000
 B-1        1.61770859    0.00000000        1000.00000000
 B-2        2.12326717    0.00000000        1000.00000000
 B-3        2.12326845    0.00000000        1000.00000000
 B-4        2.12326909    0.00000000        1000.00000000
 B-5        2.12326591    0.00000000        1000.00000000
 B-6        2.12326735    0.00000000        1000.00000000
</TABLE>

(5) Per $1 denomination

(6) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                                     <C>
Beginning Balance

Deposits
         Payments of Interest and Principal                             10,788,790.91
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                       0.00
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          10,788,790.91

Withdrawals
         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            304,310.54
         Payment of Interest and Principal                              10,484,480.37
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            10,788,790.91

Ending Balance                                                                   0.00
                                                                        =============
</TABLE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                                         <C>
Total Prepayment/Curtailment Interest Shortfall                              0.00
Servicing Fee Support                                                        0.00
                                                                            -----

Non-Supported Prepayment Curtailment Interest Shortfall                     (0.01)
                                                                            =====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                     <C>
Gross Servicing Fee                                                     304,310.54
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       304,310.54
                                                                        ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                 Beginning          Current          Current       Ending
Account Type                      Balance         Withdrawals       Deposits       Balance
------------                      -------         -----------       --------       -------
<S>                              <C>              <C>               <C>           <C>
Reserve Fund                     10,000.00           0.00             0.00        10,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
-------------------------------------    ---------------------------------   ---------------------------------
                No. of      Principal                 No. of     Principal                No. of     Principal
                Loans        Balance                  Loans       Balance                 Loans       Balance
<S>           <C>           <C>          <C>        <C>          <C>         <C>        <C>          <C>
0-29 Days         0           0.00       0-29 Days      0          0.00      0-29 Days      0          0.00
30 Days           0           0.00       30 Days        0          0.00      30 Days        0          0.00
60 Days           0           0.00       60 Days        0          0.00      60 Days        0          0.00
90 Days           0           0.00       90 Days        0          0.00      90 Days        0          0.00
120 Days          0           0.00       120 Days       0          0.00      120 Days       0          0.00
150 Days          0           0.00       150 Days       0          0.00      150 Days       0          0.00
180+ Days         0           0.00       180+ Days      0          0.00      180+ Days      0          0.00
                 --           ----                     --          ----                    --          ----
                  0           0.00                      0          0.00                     0          0.00

                No. of      Principal                 No. of     Principal                No. of     Principal
                Loans        Balance                  Loans       Balance                 Loans       Balance

0-29 Days     0.000000%     0.000000%    0-29 Days  0.000000%    0.000000%   0-29 Days  0.000000%    0.000000%
30 Days       0.000000%     0.000000%    30 Days    0.000000%    0.000000%   30 Days    0.000000%    0.000000%
60 Days       0.000000%     0.000000%    60 Days    0.000000%    0.000000%   60 Days    0.000000%    0.000000%
90 Days       0.000000%     0.000000%    90 Days    0.000000%    0.000000%   90 Days    0.000000%    0.000000%
120 Days      0.000000%     0.000000%    120 Days   0.000000%    0.000000%   120 Days   0.000000%    0.000000%
150 Days      0.000000%     0.000000%    150 Days   0.000000%    0.000000%   150 Days   0.000000%    0.000000%
180+ Days     0.000000%     0.000000%    180+ Days  0.000000%    0.000000%   180+ Days  0.000000%    0.000000%
              --------      --------                --------     --------               --------     --------
              0.000000%     0.000000%               0.000000%    0.000000%              0.000000%    0.000000%
</TABLE>

<TABLE>
<CAPTION>
                 REO                                  TOTAL
-------------------------------------    ---------------------------------
               No. of       Principal                 No. of     Principal
                Loans        Balance                  Loans       Balance
<S>           <C>           <C>          <C>        <C>          <C>
0-29 Days         0           0.00       0-29 Days      0          0.00
30 Days           0           0.00       30 Days        0          0.00
60 Days           0           0.00       60 Days        0          0.00
90 Days           0           0.00       90 Days        0          0.00
120 Days          0           0.00       120 Days       0          0.00
150 Days          0           0.00       150 Days       0          0.00
180+ Days         0           0.00       180+ Days      0          0.00
                 --           ----                     --          ----
                  0           0.00                      0          0.00

               No. of       Principal                 No. of     Principal
                Loans        Balance                  Loans       Balance

0-29 Days     0.000000%     0.000000%    0-29 Days  0.000000%    0.000000%
30 Days       0.000000%     0.000000%    30 Days    0.000000%    0.000000%
60 Days       0.000000%     0.000000%    60 Days    0.000000%    0.000000%
90 Days       0.000000%     0.000000%    90 Days    0.000000%    0.000000%
120 Days      0.000000%     0.000000%    120 Days   0.000000%    0.000000%
150 Days      0.000000%     0.000000%    150 Days   0.000000%    0.000000%
180+ Days     0.000000%     0.000000%    180+ Days  0.000000%    0.000000%
              --------      --------                --------     --------
              0.000000%     0.000000%               0.000000%    0.000000%
</TABLE>

<TABLE>
<S>                                         <C>    <C>                                           <C>    <C>                <C>
Current Period Class A Insufficient Funds:  0.00   Principal Balance of Contaminated Properties  0.00   Periodic Advance   0.00
</TABLE>

<TABLE>
<CAPTION>
                    Original $         Original %           Current $           Current %
<S>               <C>                  <C>                <C>                  <C>
Bankruptcy           218,860.00        0.01952376%          218,860.00         0.02276431%
Fraud             33,629,796.00        3.00000001%        9,908,251.45         1.03058813%
Special Hazard    11,209,932.00        1.00000000%        9,698,424.34         1.00876336%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
            Collateral Description                                                                     Mixed ARM
<S>                                                                                                 <C>
Weighted Average Gross Coupon                                                                             2.924449%
Weighted Average Net Coupon                                                                               2.547921%
Weighted Average Pass-Through Rate                                                                        2.547921%
Weighted Average Maturity (Stepdown Calculation)                                                               311

Beginning Scheduled Collateral Loan Count                                                                    2,818
Number of Loans Paid in Full                                                                                    22
Ending Scheduled Collateral Loan Count                                                                       2,796

Beginning Scheduled Collateral Balance                                                              969,842,433.64
Ending Scheduled Collateral Balance                                                                 961,417,188.35
Ending Actual Collateral Balance at 27-Feb-2004                                                     961,425,247.80

Monthly P&I Constant                                                                                  2,363,545.61
Special Servicing Fee                                                                                         0.00
Prepayment Penalties                                                                                          0.00
Realization Loss Amount                                                                                       0.00
Cumulative Realized Loss                                                                                      0.00

Ending Scheduled Balance for Premium Loans                                                          961,417,188.35

Scheduled Principal                                                                                           0.00
Unscheduled Principal                                                                                 8,425,245.29
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Principal Balance of 1-Month Libor Loans                         230,114,323.78
Principal Balance of 6-Month Libor Loans                         731,302,864.57
Pro Rata Senior Percentage                                            95.781057%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
Payment Received from Cap Provide                                             0
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}]]