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: DECEMBER 31, 2002
                       DISTRIBUTION DATE: JANUARY 21, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------
                              Certificate    Certificate        Beginning
                                 Class       Pass-Through      Certificate         Interest
   Class          CUSIP       Description        Rate            Balance         Distribution
-----------------------------------------------------------------------------------------------
<S>             <C>           <C>            <C>               <C>               <C>
     A          81744AAA6         SEN             1.87000%     689,373,021.52      1,074,272.96
   X-1A         81744AAC2          IO             1.25240%               0.00        200,041.84
   X-1B         81744AAD0          IO             1.48498%               0.00        615,898.95
    X-B         81744AAE8          IO             0.90031%               0.00          7,301.03
    A-R         81744AAF5         SEN             3.30483%               0.00              0.00
    B-1         81744AAB4         SUB             2.39000%       9,726,000.00         19,370.95
    B-2         81744AAG3         SUB             3.29031%       5,764,000.00         15,804.46
    B-3         81744AAH1         SUB             3.29031%       3,962,000.00         10,863.51
    B-4         SMT0211B4         SUB             3.29031%       1,801,000.00          4,938.21
    B-5         SMT0211B5         SUB             3.29031%       1,080,000.00          2,961.28
    B-6         SMT0211B6         SUB             3.29031%       2,882,787.00          7,904.39
-----------------------------------------------------------------------------------------------
Totals                                                         714,588,808.52      1,959,357.58
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------
                    Current            Ending
  Principal      Realized Loss       Certificate         Total         Cumulative
Distribution                           Balance        Distribution    Realized Loss
-------------------------------------------------------------------------------------
<S>              <C>                 <C>              <C>             <C>
  3,392,472.05              0.00     685,980,549.47    4,466,745.01             0.00
          0.00              0.00               0.00      200,041.84             0.00
          0.00              0.00               0.00      615,898.95             0.00
          0.00              0.00               0.00        7,301.03             0.00
          0.00              0.00               0.00            0.00             0.00
          0.00              0.00       9,726,000.00       19,370.95             0.00
          0.00              0.00       5,764,000.00       15,804.46             0.00
          0.00              0.00       3,962,000.00       10,863.51             0.00
          0.00              0.00       1,801,000.00        4,938.21             0.00
          0.00              0.00       1,080,000.00        2,961.28             0.00
          0.00              0.00       2,882,787.00        7,904.39             0.00
-------------------------------------------------------------------------------------
  3,392,472.05              0.00     711,196,336.47    5,351,829.63             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
   Class          Amount            Balance       Distribution   Distribution     Accretion
---------------------------------------------------------------------------------------------
<S>           <C>                 <C>             <C>            <C>              <C>
     A         695,210,000.00     689,373,021.52         42.10     3,392,429.95         0.00
   X-1A                  0.00               0.00          0.00             0.00         0.00
   X-1B                  0.00               0.00          0.00             0.00         0.00
    X-B                  0.00               0.00          0.00             0.00         0.00
    A-R                100.00               0.00          0.00             0.00         0.00
    B-1          9,726,000.00       9,726,000.00          0.00             0.00         0.00
    B-2          5,726,000.00       5,764,000.00          0.00             0.00         0.00
    B-3          3,962,000.00       3,962,000.00          0.00             0.00         0.00
    B-4          1,801,000.00       1,801,000.00          0.00             0.00         0.00
    B-5          1,080,000.00       1,080,000.00          0.00             0.00         0.00
    B-6          2,882,787.00       2,882,787.00          0.00             0.00         0.00
---------------------------------------------------------------------------------------------
Totals         720,425,887.00     714,588,808.52         42.10     3,392,429.95         0.00
---------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------
                 Total             Ending              Ending
Realized       Principal        Certificate         Certificate       Total Principal
Loss (1)       Reduction          Balance            Percentage        Distribution
---------------------------------------------------------------------------------------
<S>            <C>              <C>                 <C>               <C>
      0.00     3,392,472.05      685,980,549.47          0.98672423       3,392,472.05
      0.00             0.00                0.00          0.00000000               0.00
      0.00             0.00                0.00          0.00000000               0.00
      0.00             0.00                0.00          0.00000000               0.00
      0.00             0.00                0.00          0.00000000               0.00
      0.00             0.00        9,726,000.00          1.00000000               0.00
      0.00             0.00        5,764,000.00          1.00000000               0.00
      0.00             0.00        3,962,000.00          1.00000000               0.00
      0.00             0.00        1,801,000.00          1.00000000               0.00
      0.00             0.00        1,080,000.00          1.00000000               0.00
      0.00             0.00        2,882,787.00          1.00000000               0.00
---------------------------------------------------------------------------------------
      0.00     3,392,472.05      711,196,336.47          0.98718876       3,392,472.05
---------------------------------------------------------------------------------------
</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       991.60400673    0.00006056        4.87971972    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      1000.00000000    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
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------
             Total Principal       Ending             Ending
 Realized       Reduction        Certificate       Certificate       Total Principal
 Loss (3)                          Balance          Percentage        Distribution
--------------------------------------------------------------------------------------
<S>          <C>                 <C>               <C>               <C>
 0.00000000        4.87978028     986.72422645          0.98672423         4.87978028
 0.00000000        0.00000000       0.00000000          0.00000000         0.00000000
 0.00000000        0.00000000       0.00000000          0.00000000         0.00000000
 0.00000000        0.00000000       0.00000000          0.00000000         0.00000000
 0.00000000        0.00000000       0.00000000          0.00000000         0.00000000
 0.00000000        0.00000000    1000.00000000          1.00000000         0.00000000
 0.00000000        0.00000000    1000.00000000          1.00000000         0.00000000
 0.00000000        0.00000000    1000.00000000          1.00000000         0.00000000
 0.00000000        0.00000000    1000.00000000          1.00000000         0.00000000
 0.00000000        0.00000000    1000.00000000          1.00000000         0.00000000
 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>
--------------------------------------------------------------------------------------------
                                                                                 Payment of
                                  Current         Beginning         Current        Unpaid
             Original Face      Certificate      Certificate/       Accrued       Interest
  Class         Amount             Rate        Notional Balance     Interest      Shortfall
--------------------------------------------------------------------------------------------
<S>          <C>                <C>            <C>                <C>             <C>
    A         695,210,000.00         1.87000%    689,373,021.52   1,074,272.96          0.00
  X-1A                  0.00         1.25240%    191,671,304.82     200,040.85          0.00
  X-1B                  0.00         1.48498%    497,701,716.70     615,895.93          0.00
   X-B                  0.00         0.90031%      9,726,000.00       7,297.02          0.00
   A-R                100.00         3.30483%              0.00           0.00          0.00
   B-1          9,726,000.00         2.39000%      9,726,000.00      19,370.95          0.00
   B-2          5,764,000.00         3.29031%      5,764,000.00      15,804.46          0.00
   B-3          3,962,000.00         3.29031%      3,962,000.00      10,863.51          0.00
   B-4          1,801,000.00         3.29031%      1,801,000.00       4,938.21          0.00
   B-5          1,080,000.00         3.29031%      1,080,000.00       2,961.28          0.00
   B-6          2,882,787.00         3.29031%      2,882,787.00       7,904.39          0.00
--------------------------------------------------------------------------------------------
 Totals       720,425,887.00                                      1,959,349.56          0.00
--------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------
                 Non-                                    Remaining         Ending
 Current      Supported                                   Unpaid       Certificate/
 Interest     Interest     Realized    Total Interest     Interest       Notational
 Shortfall    Shortfall    Loss (4)     Distribution     Shortfall         Balance
-------------------------------------------------------------------------------------
<S>           <C>          <C>         <C>               <C>           <C>
     0.00         0.00         0.00     1,074,272.96          0.00     685,980,549.47
     0.00         0.00         0.00       200,041.84          0.00     190,196,078.85
     0.00         0.00         0.00       615,898.95          0.00     495,784,470.62
     0.00         0.00         0.00         7,301.03          0.00       9,726,000.00
     0.00         0.00         0.00             0.00          0.00               0.00
     0.00         0.00         0.00        19,370.95          0.00       9,726,000.00
     0.00         0.00         0.00        15,804.46          0.00       5,764,000.00
     0.00         0.00         0.00        10,863.51          0.00       3,962,000.00
     0.00         0.00         0.00         4,938.21          0.00       1,801,000.00
     0.00         0.00         0.00         2,961.28          0.00       1,080,000.00
     0.00         0.00         0.00         7,904.39          0.00       2,882,787.00
-------------------------------------------------------------------------------------
     0.00         0.00         0.00     1,959,357.58          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          Current         Unpaid
Class (5)    Original Face    Certificate    Certificate/        Accrued        Interest
                Amount           Rate      Notional Balance     Interest        Shortfall
-------------------------------------------------------------------------------------------
<S>          <C>              <C>          <C>                  <C>            <C>
    A         695,210,000.00    1.87000%      991.60400673       1.54524958     0.00000000
  X-1A                  0.00    1.25240%      999.53023025       1.04317585     0.00000000
  X-1B                  0.00    1.48498%      988.58513900       1.22335436     0.00000000
   X-B                  0.00    0.90031%     1000.00000000       0.75025910     0.00000000
   A-R                100.00    3.30483%        0.00000000       0.00000000     0.00000000
   B-1          9,726,000.00    2.39000%     1000.00000000       1.99166667     0.00000000
   B-2          5,726,000.00    3.29031%     1000.00000000       2.74192575     0.00000000
   B-3          3,962,000.00    3.29031%     1000.00000000       2.74192580     0.00000000
   B-4          1,801,000.00    3.29031%     1000.00000000       2.74192671     0.00000000
   B-5          1,080,000.00    3.29031%     1000.00000000       2.74192593     0.00000000
   B-6          2,882,787.00    3.29031%     1000.00000000       2.74192648     0.00000000
-------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------
                                                             Remaining
  Current    Non-Supported                                    Unpaid
 Interest      Interest      Realized      Total Interest    Interest    Ending Certificate/
 Shortfall    Shortfall      Loss (6)       Distribution     Shortfall   Notational Balance
---------------------------------------------------------------------------------------------
<S>          <C>             <C>           <C>               <C>         <C>
 0.00000000    0.00000000     0.00000000        1.54524958   0.00000000         986.72422645
 0.00000000    0.00000000     0.00000000        1.04318102   0.00000000         991.83720100
 0.00000000    0.00000000     0.00000000        1.22336036   0.00000000         984.77691227
 0.00000000    0.00000000     0.00000000        0.75067140   0.00000000        1000.00000000
 0.00000000    0.00000000     0.00000000        0.00000000   0.00000000           0.00000000
 0.00000000    0.00000000     0.00000000        1.99166667   0.00000000        1000.00000000
 0.00000000    0.00000000     0.00000000        2.74192575   0.00000000        1000.00000000
 0.00000000    0.00000000     0.00000000        2.74192580   0.00000000        1000.00000000
 0.00000000    0.00000000     0.00000000        2.74192671   0.00000000        1000.00000000
 0.00000000    0.00000000     0.00000000        2.74192593   0.00000000        1000.00000000
 0.00000000    0.00000000     0.00000000        2.74192648   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                         5,545,279.84
         Liquidations, Insurance Proceeds, Reserve Funds                    8.02
         Proceeds from Repurchased Loans                                    0.00
         Other Amounts (Servicer Advances)                             26,462.31
         Realized Losses                                                    0.00
         Prepayment Penalties                                               0.00
                                                                    ------------
Total Deposits                                                      5,571,750.17

Withdrawals

         Reimbursement for Servicer Advances                                0.00
         Payment of Service Fee                                       219,920.54
         Payment of Interest and Principal                          5,351,829.63
                                                                    ------------
Total Withdrawals (Pool Distribution Amount)                        5,571,750.17

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                                                   215,752.10
Master Servicing Fee                                                    4,168.44
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                    ------------

Net Servicing Fee                                                     219,920.54
                                                                    ============
</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            4.01             4.01        5,000.00
Class X-B Basis Risk Reserve Fund           5,000.00            4.01             4.01        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           22       9,330,061.69  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
              ------------------------              -----------------------             -----------------------
                  22       9,330,061.69                 0              0.00                 0              0.00

0-29 Days     0.000000%      0.000000%   0-29 Days  0.000000%     0.000000%  0-29 Days  0.000000%     0.000000%
30 Days       1.092896%      1.311893%   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%
              ------------------------              -----------------------             -----------------------
              1.092896%      1.311893%              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        22       9,330,061.69
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                 22       9,330,061.69

0-29 Days   0.000000%    0.000000%  0-29 Days   0.000000%      0.000000%
30 Days     0.000000%    0.000000%  30 Days     1.092896%      1.311893%
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%              1.092896%      1.311893%
</TABLE>

Current Period Class A Insufficient Funds:           0.00
Principal Balance of Contaminated Properties         0.00
Periodic Advance                                26,462.31
<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       3.54554512%            96.454455%            0.000000%
Class B-1       15,489,787.00         2.15008751%       15,489,787.00       2.17799027%             1.367555%           38.571075%
Class B-2        9,725,787.00         1.35000521%        9,725,787.00       1.36752490%             0.810465%           22.858696%
Class B-3        5,763,787.00         0.80005273%        5,763,787.00       0.81043542%             0.557089%           15.712379%
Class B-4        3,962,787.00         0.55006172%        3,962,787.00       0.55720014%             0.253235%            7.142351%
Class B-5        2,882,787.00         0.40015039%        2,882,787.00       0.40534334%             0.151857%            4.283031%
Class B-6                0.00         0.00000000%                0.00       0.00000000%             0.405343%           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         0.01683839%
         Fraud    21,612,777.00        3.00000005%       21,612,777.00         3.03893256%
Special Hazard    11,600,000.00        1.61015869%       11,600,000.00         1.63105452%
</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                                          3.659621%
Weighted Average Net Coupon                                            3.297311%
Weighted Average Pass-Through Rate                                     3.290311%
Weighted Average Maturity (Stepdown Calculation)                             324

Beginning Scheduled Collateral Loan Count                                  2,020
Number of Loans Paid in Full                                                   7
Ending Scheduled Collateral Loan Count                                     2,013

Beginning Scheduled Collateral Balance                            714,588,808.52
Ending Scheduled Collateral Balance                               711,196,336.47
Ending Actual Collateral Balance at 31-Dec-2002                   711,190,817.24

Monthly P&I Constant                                                2,179,312.18
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realization Loss Amount                                                     0.00
Cumulative Realized Loss                                                    0.00

Class A Optimal Amount                                              4,466,745.01

Ending Scheduled Balance for Premium Loans                        711,196,336.47

Scheduled Principal                                                        42.10
Unscheduled Principal                                               3,392,429.95
</TABLE>

                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
One Month LIBOR Loans                                             197,187,448.82
Six Month LIBOR Loans                                             514,008,887.65
Pro Rata Senior Percentage                                            96.471287%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
Remaining Capitalized Interest Balance                                      0.00
Remaining Prefunding Balance                                                0.00
</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: DECEMBER 31, 2002
                       DISTRIBUTION DATE: JANUARY 21, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
                              Certificate    Certificate         Beginning
                                 Class       Pass-Through       Certificate          Interest         Principal
   Class          CUSIP       Description        Rate             Balance          Distribution     Distribution
----------------------------------------------------------------------------------------------------------------
<S>             <C>           <C>            <C>           <C>                     <C>              <C>
     A          81744BAA4         SEN           1.87000%   1,080,076,000.00        1,739,222.38     2,651,309.73
    X-1         81744BAB2          IO           1.02839%               0.00          214,002.10             0.00
    X-2         81744BAC0          IO           1.23010%               0.00          868,428.05             0.00
    A-R         81744BAD8         SEN           3.12285%             100.00                0.26           100.00
    B-1         81744BAE6         SUB           2.27000%      16,815,000.00           32,868.65             0.00
    B-2         81744BAF3         SUB           3.12285%       8,968,000.00           23,338.09             0.00
    B-3         81744BAG1         SUB           3.12285%       6,165,000.00           16,043.64             0.00
    B-4         SMT0212B4         SUB           3.12285%       2,802,000.00            7,291.85             0.00
    B-5         SMT0212B5         SUB           3.12285%       1,681,000.00            4,374.59             0.00
    B-6         SMT0212B6         SUB           3.12285%       4,486,095.46           11,674.50             0.00
----------------------------------------------------------------------------------------------------------------
Totals                                                     1,120,993,195.46        2,917,244.11     2,651,409.73
----------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
                                    Ending
                   Current        Certificate         Total         Cumulative
   Class        Realized Loss       Balance        Distribution    Realized Loss
--------------------------------------------------------------------------------
<S>             <C>             <C>                <C>             <C>
     A               0.00       1,077,424,690.27    4,390,532.11         0.00
    X-1              0.00                   0.00      214,002.10         0.00
    X-2              0.00                   0.00      868,428.05         0.00
    A-R              0.00                   0.00          100.26         0.00
    B-1              0.00          16,815,000.00       32,868.65         0.00
    B-2              0.00           8,968,000.00       23,338.09         0.00
    B-3              0.00           6,165,000.00       16,043.64         0.00
    B-4              0.00           2,802,000.00        7,291.85         0.00
    B-5              0.00           1,681,000.00        4,374.59         0.00
    B-6              0.00           4,486,095.46       11,674.50         0.00
----------------------------------------------------------------------------------
Totals               0.00       1,118,341,785.73    5,568,653.84         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                                 Total
               Original Face       Certificate      Principal        Principal                  Realized       Principal
   Class           Amount            Balance       Distribution     Distribution   Accretion     Loss (1)      Reduction
------------------------------------------------------------------------------------------------------------------------
<S>          <C>                <C>                <C>              <C>            <C>          <C>         <C>
     A       1,080,076,000.00   1,080,076,000.00        0.00        2,651,309.73       0.00        0.00     2,651,309.73
    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             100.00        0.00              100.00       0.00        0.00           100.00
    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   1,120,993,195.46        0.00        2,651,409.73       0.00        0.00    2,651,409.730
------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------
                Ending           Ending
              Certificate      Certificate     Total Principal
   Class        Balance         Percentage       Distribution
--------------------------------------------------------------
<S>         <C>                <C>             <C>
     A      1,077,424,690.27    0.99754526       2,651,309.73
    X-1                 0.00    0.00000000               0.00
    X-2                 0.00    0.00000000               0.00
    A-R                 0.00    0.00000000             100.00
    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      1,118,341,785.73    0.99763477       2,651,409.73
--------------------------------------------------------------
</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      1000.00000000    0.00000000        2.45474368    0.00000000    0.00000000        2.45474368
    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      1000.00000000    0.00000000     1000.00000000    0.00000000    0.00000000     1000.00000000
    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
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------
               Ending            Ending
             Certificate      Certificate     Total Principal
   Class       Balance         Percentage      Distribution
-------------------------------------------------------------
<S>         <C>               <C>             <C>
     A       997.54525632      0.99754526         2.45474368
    X-1        0.00000000      0.00000000         0.00000000
    X-2        0.00000000      0.00000000         0.00000000
    A-R        0.00000000      0.00000000      1000.00000000
    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
                                  Current       Beginning          Current       Unpaid        Current    Non-Supported
              Original Face     Certificate    Certificate/        Accrued      Interest      Interest       Interest     Realized
  Class           Amount           Rate      Notional Balance      Interest     Shortfall     Shortfall     Shortfall     Loss (4)
----------------------------------------------------------------------------------------------------------------------------------
<S>         <C>                 <C>          <C>                 <C>           <C>            <C>         <C>             <C>
    A       1,080,076,000.00      1.87000%   1,080,076,000.00    1,739,222.38      0.00          0.00         0.00          0.00
   X-1                  0.00      1.02839%     249,714,339.00      214,002.10      0.00          0.00         0.00          0.00
   X-2                  0.00      1.23010%     847,176,660.00      868,428.05      0.00          0.00         0.00          0.00
   A-R                100.00      3.12285%             100.00            0.26      0.00          0.00         0.00          0.00
   B-1         16,815,000.00      2.27000%      16,815,000.00       32,868.65      0.00          0.00         0.00          0.00
   B-2          8,968,000.00      3.12285%       8,968,000.00       23,338.09      0.00          0.00         0.00          0.00
   B-3          6,165,000.00      3.12285%       6,165,000.00       16,043.64      0.00          0.00         0.00          0.00
   B-4          2,802,000.00      3.12285%       2,802,000.00        7,291.85      0.00          0.00         0.00          0.00
   B-5          1,681,000.00      3.12285%       1,681,000.00        4,374.59      0.00          0.00         0.00          0.00
   B-6          4,486,095.46      3.12285%       4,486,095.46       11,674.50      0.00          0.00         0.00          0.00
----------------------------------------------------------------------------------------------------------------------------------
 Totals     1,120,993,195.46                                     2,917,244.11      0.00          0.00         0.00          0.00
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------
                            Remaining         Ending
                              Unpaid        Certificate/
           Total Interest    Interest        Notational
  Class     Distribution     Shortfall        Balance
---------------------------------------------------------
<S>       <C>               <C>          <C>
    A       1,739,222.38        0.00     1,077,424,690.27
   X-1        214,002.10        0.00       248,615,997.41
   X-2        868,428.05        0.00       845,623,692.86
   A-R              0.26        0.00                 0.00
   B-1         32,868.65        0.00        16,815,000.00
   B-2         23,338.09        0.00         8,968,000.00
   B-3         16,043.64        0.00         6,165,000.00
   B-4          7,291.85        0.00         2,802,000.00
   B-5          4,374.59        0.00         1,681,000.00
   B-6         11,674.50        0.00         4,486,095.46
---------------------------------------------------------
 Totals     2,917,244.11        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        Current         Unpaid       Current    Non-Supported
  Class       Original Face   Certificate     Certificate       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     1.87000%     1000.00000000     1.61027778     0.00000000   0.00000000    0.00000000     0.00000000
   X-1                  0.00     1.02839%     1000.00000000     0.85698763     0.00000000   0.00000000    0.00000000     0.00000000
   X-2                  0.00     1.23010%     1000.00000000     1.02508496     0.00000000   0.00000000    0.00000000     0.00000000
   A-R                100.00     3.12285%     1000.00000000     2.60000000     0.00000000   0.00000000    0.00000000     0.00000000
   B-1         16,815,000.00     2.27000%     1000.00000000     1.95472197     0.00000000   0.00000000    0.00000000     0.00000000
   B-2          8,968,000.00     3.12285%     1000.00000000     2.60237400     0.00000000   0.00000000    0.00000000     0.00000000
   B-3          6,165,000.00     3.12285%     1000.00000000     2.60237470     0.00000000   0.00000000    0.00000000     0.00000000
   B-4          2,802,000.00     3.12285%     1000.00000000     2.60237330     0.00000000   0.00000000    0.00000000     0.00000000
   B-5          1,681,000.00     3.12285%     1000.00000000     2.60237359     0.00000000   0.00000000    0.00000000     0.00000000
   B-6          4,486,095.46     3.12285%     1000.00000000     2.60237440     0.00000000   0.00000000    0.00000000     0.00000000
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------
                            Remaining
                             Unpaid
  Class    Total Interest   Interest      Ending Certificate/
   (5)      Distribution    Shortfall     Notational Balance
<S>        <C>             <C>            <C>
-------------------------------------------------------------
    A         1.61027778   0.00000000         997.54525623
   X-1        0.85698763   0.00000000         995.60160784
   X-2        1.02508496   0.00000000         998.16689102
   A-R        2.60000000   0.00000000           0.00000000
   B-1        1.95472197   0.00000000        1000.00000000
   B-2        2.60237400   0.00000000        1000.00000000
   B-3        2.60237470   0.00000000        1000.00000000
   B-4        2.60237330   0.00000000        1000.00000000
   B-5        2.60237359   0.00000000        1000.00000000
   B-6        2.60237440   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                      5,909,919.89
         Liquidations, Insurance Proceeds, Reserve Funds                 0.00
         Proceeds from Repurchased Loans                                 0.00
         Other Amounts (Servicer Advances)                          11,374.47
         Realized Losses                                                 0.00
         Prepayment Penalties                                            0.00
                                                                 ------------
Total Deposits                                                   5,921,294.36

Withdrawals
         Reimbursement for Servicer Advances                             0.00
         Payment of Service Fee                                    352,640.50
         Payment of Interest and Principal                       5,568,653.86
                                                                 ------------
Total Withdrawals (Pool Distribution Amount)                     5,921,294.36

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                                                352,640.50
Supported Prepayment/Curtailment Interest Shortfall                      0.00
                                                                 ------------
Net Servicing Fee                                                  352,640.50
                                                                 ============
</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           13     3,990,050.00  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
              -----------------------             ----------------------             --------------------
                  13     3,990,050.00                 0           0.00                     0      0.00

<CAPTION>
                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     0.000000%     0.000000%  0-29 Days  0.000000%    0.000000%  0-29 Days  0.000000%  0.000000%
30 Days       0.409191%     0.356783%  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%
              -----------------------             ----------------------             --------------------
              0.409191%     0.356783%             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        13     3,990,050.00
 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                    13     3,990,050.00

<CAPTION>
              No. of     Principal              No. of     Principal
               Loans      Balance                Loans      Balance
 <S>         <C>         <C>        <C>        <C>        <C>
 0-29 Days   0.000000%   0.000000%  0-29 Days  0.000000%     0.000000%
 30 Days     0.000000%   0.000000%  30 Days    0.409191%     0.356783%
 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%             0.409191%     0.356783%
 ---------------------------------  ----------------------------------
</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   11,374.47
</TABLE>

<TABLE>
<CAPTION>
                              Original $         Original %          Current $           Current %

<S>                         <C>                  <C>               <C>                   <C>
              Bankruptcy       218,860.00        0.01952376%          218,860.00         0.01957005%
                   Fraud    33,629,796.00        3.00000001%       33,629,796.00         3.00711253%
          Special Hazard    11,209,932.00        1.00000000%       11,209,932.00         1.00237084%
</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                                          3.500344%
Weighted Average Net Coupon                                            3.122849%
Weighted Average Pass-Through Rate                                     3.122849%
Weighted Average Maturity (Stepdown Calculation)                            325

Beginning Scheduled Collateral Loan Count                                 3,182
Number of Loans Paid in Full                                                  5
Ending Scheduled Collateral Loan Count                                    3,177

Beginning Scheduled Collateral Balance                         1,120,993,195.46
Ending Scheduled Collateral Balance                            1,118,341,785.73
Ending Actual Collateral Balance at 31-Dec-2002                1,118,342,344.55

Monthly P&I Constant                                               3,269,884.63
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                     1,118,341,785.73

Scheduled Principal                                                        0.00
Unscheduled Principal                                              2,651,409.73
</TABLE>

                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Principal Balance of 1-Month Libor Loans                         254,092,097.90
Principal Balance of 6-Month Libor Loans                         864,249,687.83
Pro Rata Senior Percentage                                            96.349925%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}]]