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: SEPTEMBER 30, 2003
                       DISTRIBUTION DATE: OCTOBER 20, 2003

                     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          1.57000%      623,475,859.37     815,714.24   5,688,505.00
  X-1A   81744AAC2        IO          0.90133%                0.00     134,338.69           0.00
  X-1B   81744AAD0        IO          1.03365%                0.00     382,988.19           0.00
   X-B   81744AAE8        IO          0.47570%                0.00       3,855.51           0.00
   A-R   81744AAF5       SEN          3.25270%                0.00           0.00           0.00
   B-1   81744AAB4       SUB          2.09000%        9,726,000.00      16,939.45           0.00
   B-2   81744AAG3       SUB          2.56570%        5,764,000.00      12,323.89           0.00
   B-3   81744AAH1       SUB          2.56570%        3,962,000.00       8,471.07           0.00
   B-4   SMT0211B4       SUB          2.56570%        1,801,000.00       3,850.68           0.00
   B-5   SMT0211B5       SUB          2.56570%        1,080,000.00       2,309.13           0.00
   B-6   SMT0211B6       SUB          2.56570%        2,882,787.00       6,163.63           0.00
-------------------------------------------------------------------------------------------------
Totals                                              648,691,646.37    1,386,954.48  5,688,505.00
-------------------------------------------------------------------------------------------------

<CAPTION>
                        Current     Ending Certificate     Total         Cumulative
 Class     CUSIP     Realized Loss        Balance       Distribution   Realized Loss
------------------------------------------------------------------------------------
<S>      <C>         <C>            <C>                 <C>            <C>
    A    81744AAA6       0.00        617,787,354.37     6,504,219.24        0.00
  X-1A   81744AAC2       0.00                  0.00       134,338.69        0.00
  X-1B   81744AAD0       0.00                  0.00       382,988.19        0.00
   X-B   81744AAE8       0.00                  0.00         3,855.51        0.00
   A-R   81744AAF5       0.00                  0.00             0.00        0.00
   B-1   81744AAB4       0.00          9,726,000.00        16,939.45        0.00
   B-2   81744AAG3       0.00          5,764,000.00        12,323.89        0.00
   B-3   81744AAH1       0.00          3,962,000.00         8,471.07        0.00
   B-4   SMT0211B4       0.00          1,801,000.00         3,850.68        0.00
   B-5   SMT0211B5       0.00          1,080,000.00         2,309.13        0.00
   B-6   SMT0211B6       0.00          2,882,787.00         6,163.63        0.00
------------------------------------------------------------------------------------
Totals                   0.00        643,003,141.37     7,075,459.48        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  623,475,859.37      0.00       5,688,505.00     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    5,726,000.00    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  648,691,646.37      0.00       5,688,505.00     0.00       0.00
-----------------------------------------------------------------------------------------

<CAPTION>
        Total Principal  Ending Certificate  Ending Certificate  Total Principal
 Class     Reduction           Balance           Percentage       Distribution
--------------------------------------------------------------------------------
<S>     <C>              <C>                 <C>                 <C>
     A    5,688,505.00     617,787,354.37       0.88863416         5,688,505.00
  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    5,688,505.00     643,003,141.37       0.89253198         5,688,505.00
--------------------------------------------------------------------------------
</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
Class      Amount         Balance     Distribution  Distribution  Accretion    Loss (3)
----------------------------------------------------------------------------------------
<S>    <C>             <C>            <C>           <C>           <C>         <C>
  A    695,210,000.00   896.18658689   0.00000000    8.18242689   0.00000000  0.00000000
X-1A             0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
X-1B             0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 X-B             0.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 A-R           100.00     0.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-1     9,726,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-2     5,764,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-3     3,962,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-4     1,801,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-5     1,080,000.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000
 B-6     2,882,787.00  1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000

<CAPTION>
                           Ending
       Total Principal   Certificate   Ending Certificate  Total Principal
Class     Reduction         Balance        Percentage       Distribution
--------------------------------------------------------------------------
<S>    <C>              <C>            <C>                 <C>
  A       8.18242689     888.63415999      0.88863416         8.18242689
X-1A      0.00000000       0.00000000      0.00000000         0.00000000
X-1B      0.00000000       0.00000000      0.00000000         0.00000000
 X-B      0.00000000       0.00000000      0.00000000         0.00000000
 A-R      0.00000000       0.00000000      0.00000000         0.00000000
 B-1      0.00000000    1000.00000000      1.00000000         0.00000000
 B-2      0.00000000    1000.00000000      1.00000000         0.00000000
 B-3      0.00000000    1000.00000000      1.00000000         0.00000000
 B-4      0.00000000    1000.00000000      1.00000000         0.00000000
 B-5      0.00000000    1000.00000000      1.00000000         0.00000000
 B-6      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      1.57000%      623,475,859.37    815,714.25     0.00       0.00
  X-1A            0.00      0.90133%      178,853,451.24    134,338.69     0.00       0.00
  X-1B            0.00      1.03365%      444,622,408.13    382,988.19     0.00       0.00
   X-B            0.00      0.47570%        9,726,000.00      3,855.51     0.00       0.00
   A-R          100.00      3.25270%                0.00          0.00     0.00       0.00
   B-1    9,726,000.00      2.09000%        9,726,000.00     16,939.45     0.00       0.00
   B-2    5,764,000.00      2.56570%        5,764,000.00     12,323.89     0.00       0.00
   B-3    3,962,000.00      2.56570%        3,962,000.00      8,471.07     0.00       0.00
   B-4    1,801,000.00      2.56570%        1,801,000.00      3,850.68     0.00       0.00
   B-5    1,080,000.00      2.56570%        1,080,000.00      2,309.13     0.00       0.00
   B-6    2,882,787.00      2.56570%        2,882,787.00      6,163.63     0.00       0.00
---------------------------------------------------------------------------------------------
Totals  720,425,887.00                                    1,386,954.49     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      0.00       0.00      815,714.24      0.00     617,787,354.37
  X-1A     0.00       0.00      134,338.69      0.00     177,223,268.60
  X-1B     0.00       0.00      382,988.19      0.00     440,564,085.77
   X-B     0.00       0.00        3,855.51      0.00       9,726,000.00
   A-R     0.00       0.00            0.00      0.00               0.00
   B-1     0.00       0.00       16,939.45      0.00       9,726,000.00
   B-2     0.00       0.00       12,323.89      0.00       5,764,000.00
   B-3     0.00       0.00        8,471.07      0.00       3,962,000.00
   B-4     0.00       0.00        3,850.68      0.00       1,801,000.00
   B-5     0.00       0.00        2,309.13      0.00       1,080,000.00
   B-6     0.00       0.00        6,163.63      0.00       2,882,787.00
-----------------------------------------------------------------------
Totals     0.00       0.00    1,386,954.48      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    1.57000%     896.81658689      1.17333504     0.00000000  0.00000000
 X-1A            0.00    0.90133%     932.68750618      0.70055130     0.00000000  0.00000000
 X-1B            0.00    1.03365%     883.15368502      0.76072961     0.00000000  0.00000000
  X-B            0.00    0.47570%    1000.00000000      0.39641271     0.00000000  0.00000000
  A-R          100.00    3.25270%       0.00000000      0.00000000     0.00000000  0.00000000
  B-1    9,726,000.00    2.09000%    1000.00000000      1.74166667     0.00000000  0.00000000
  B-2    5,726,000.00    2.56570%    1000.00000000      2.13807946     0.00000000  0.00000000
  B-3    3,962,000.00    2.56570%    1000.00000000      2,13807925     0.00000000  0.00000000
  B-4    1,801,000.00    2.56570%    1000.00000000      2.13807885     0.00000000  0.00000000
  B-5    1,080,000.00    2.56570%    1000.00000000      2.13808333     0.00000000  0.00000000
  B-6    2,882,787.00    2.56570%    1000.00000000      2.13808027     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  0.00000000  0.00000000    1.17333502    0.00000000       888.63415999
 X-1A  0.00000000  0.00000000    0.70055130    0.00000000       924.18640670
 X-1B  0.00000000  0.00000000    0.76072961    0.00000000       875.09263753
  X-B  0.00000000  0.00000000    0.39641271    0.00000000      1000.00000000
  A-R  0.00000000  0.00000000    0.00000000    0.00000000         0.00000000
  B-1  0.00000000  0.00000000    1.74166667    0.00000000      1000.00000000
  B-2  0.00000000  0.00000000    2.13807946    0.00000000      1000.00000000
  B-3  0.00000000  0.00000000    2.13807925    0.00000000      1000.00000000
  B-4  0.00000000  0.00000000    2.13807885    0.00000000      1000.00000000
  B-5  0.00000000  0.00000000    2.13808333    0.00000000      1000.00000000
  B-6  0.00000000  0.00000000    2.13808027    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                              7,270,329.47
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                   4,756.71
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                         ------------
Total Deposits                                                           7,275,086.18

Withdrawals
         Reimbursement for Servicer Advances                                   247.55
         Payment of Service Fee                                            199,379.15
         Payment of Interest and Principal                               7,075,459.48
                                                                         ------------
Total Withdrawals (Pool Distribution Amount)                             7,275,086.18

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                                                     195,595.11
Master Servicing Fee                                                      3,784.04
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       199,379.15
                                                                        ==========
</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        2        2,298,189.74  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
           -------------------------             --------------------              ----------------------
               2        2,298,189.74                 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    0.108519%     0.357418%    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%
           -------------------------             --------------------              ----------------------
           0.108519%     0.357418%               0.000000%  0.000000%              0.000000%    0.000000%

Current Period Class A Insufficient Funds: 0.00       Principal Balance of Contaminated Properties  0.00
</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        2        2,298,189.74
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                    2        2,298,189.74

             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    0.108519%     0.357418%
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%              0.108519%     0.357418%
</TABLE>

Periodic Advance       4,756.71

<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       3.92156513%           96.078435%         0.000000%
Class B-1        15,489,787.00          2.15008751%        15,489,787.00       2.40897532%            1.512590%        38.571075%
Class B-2         9,725,787.00          1.35000521%         9,725,787.00       1.51255669%            0.896419%        22.858696%
Class B-3         5,763,787.00          0.80005273%         5,763,787.00       0.89638551%            0.616171%        15.712379%
Class B-4         3,962,787.00          0.55006172%         3,962,787.00       0.61629357%            0.280092%         7.142351%
Class B-5         2,882,787.00          0.40015039%         2,882,787.00       0.44833171%            0.167962%         4.283031%
Class B-6                 0.00          0.00000000%                 0.00       0.00000000%            0.448332%        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         0.01862417%
Fraud             21,612,777.00        3.00000005%       21,612,777.00         3.36122417%
Special Hazard    11,600,000.00        1.61015869%       11,600,000.00         1.80403473%
</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                                                         2.934523%
Weighted Average Net Coupon                                                           2.572696%
Weighted Average Pass-Through Rate                                                    2.565696%
Weighted Average Maturity (Stepdown Calculation)                                           315

Beginning Scheduled Collateral Loan Count                                                1,861
Number of Loans Paid in Full                                                                18
Ending Scheduled Collateral Loan Count                                                   1,843

Beginning Scheduled Collateral Balance                                          648,691,646.37
Ending Scheduled Collateral Balance                                             643,003,141.37
Ending Actual Collateral Balance at 30-Sept-2003                                642,998,053.51

Monthly P&I Constant                                                              1,586,333.60
Special Servicing Fee                                                                     0.00
Prepayment Penalties                                                                      0.00
Realization Loss Amount                                                                   0.00
Cumulative Realized Loss                                                                  0.00

Class A Optimal Amount                                                            6,504,219.25

Ending Scheduled Balance for Premium Loans                                      643,003,141.37

Scheduled Principal                                                                       0.00
Unscheduled Principal                                                             5,688,505.00
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Pro Rata Senior Percentage                                            96.112824%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
One Month LIBOR Loan Balance                                     184,456,864.69
Six Month LIBOR Loan Balance                                     458,546,276.68
</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: SEPTEMBER 30, 2003
                       DISTRIBUTION DATE: OCTOBER 20, 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             1.57000%        989,438,358.42      1,294,515.18    17,126,112.16
 X-1         81744BAB2          IO             0.79383%                  0.00        157,786.61             0.00
 X-2         81744BAC0          IO             1.12251%                  0.00        718,158.71             0.00
 A-R         81744BAD8         SEN             3.16549%                  0.00              0.00             0.00
 B-1         81744BAE6         SUB             1.97000%         16,815,000.00         27,604.62             0.00
 B-2         81744BAF3         SUB             2.62129%          8,968,000.00         19,589.75             0.00
 B-3         81744BAG1         SUB             2.62129%          6,165,000.00         13,466.86             0.00
 B-4         SMT0212B4         SUB             2.62129%          2,802,000.00          6,120.70             0.00
 B-5         SMT0212B5         SUB             2.62129%          1,681,000.00          3,671.99             0.00
 B-6         SMT0212B6         SUB             2.62129%          4,486,095.46          9,799.45             0.00
----------------------------------------------------------------------------------------------------------------
Totals                                                       1,030,355,453.88      2,250,713.87    17,126,112.16
----------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                                      Ending
                                  Current           Certificate        Total          Cumulative
Class          CUSIP           Realized Loss          Balance       Distribution     Realized Loss
--------------------------------------------------------------------------------------------------
<S>          <C>               <C>              <C>                <C>               <C>
  A          81744BAA4              0.00          972,312,246.26   18,420,627.34         0.00
 X-1         81744BAB2              0.00                    0.00      157,786.61         0.00
 X-2         81744BAC0              0.00                    0.00      718,158.71         0.00
 A-R         81744BAD8              0.00                    0.00            0.00         0.00
 B-1         81744BAE6              0.00           16,815,000.00       27,604.62         0.00
 B-2         81744BAF3              0.00            8,968,000.00       19,589.75         0.00
 B-3         81744BAG1              0.00            6,165,000.00       13,466.86         0.00
 B-4         SMT0212B4              0.00            2,802,000.00        6,120.70         0.00
 B-5         SMT0212B5              0.00            1,681,000.00        3,671.99         0.00
 B-6         SMT0212B6              0.00            4,486,095.46        9,799.45         0.00
--------------------------------------------------------------------------------------------------
Totals                              0.00        1,013,229,341.72   19,376,826.03         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       1,080,076,000.00     989,438,358.42          0.00        17,126,112.16         0.00
 X-1                  0.00               0.00          0.00                 0.00         0.00
 X-2                  0.00               0.00          0.00                 0.00         0.00
 A-R                100.00               0.00          0.00                 0.00         0.00
 B-1         16,815,000.00      16,815,000.00          0.00                 0.00         0.00
 B-2          8,968,000.00       8,968,000.00          0.00                 0.00         0.00
 B-3          6,165,000.00       6,165,000.00          0.00                 0.00         0.00
 B-4          2,802,000.00       2,802,000.00          0.00                 0.00         0.00
 B-5          1,681,000.00       1,681,000.00          0.00                 0.00         0.00
 B-6          4,486,095.46       4,486,095.46          0.00                 0.00         0.00
          -------------------------------------------------------------------------------------
Totals    1,120,993,195.46   1,030,355,453.88          0.00        17,126,112.16         0.00
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                             Ending                 Ending
          Realized     Total Principal     Certificate           Certificate     Total Principal
Class     Loss (1)        Reduction          Balance              Percentage        Distribution
------------------------------------------------------------------------------------------------
<S>       <C>          <C>              <C>                      <C>             <C>
  A         0.00        17,126,112.16     972,312,246.26          0.90022577      17,126,112.16
 X-1        0.00                 0.00               0.00          0.00000000               0.00
 X-2        0.00                 0.00               0.00          0.00000000               0.00
 A-R        0.00                 0.00               0.00          0.00000000               0.00
 B-1        0.00                 0.00      16,815,000.00          1.00000000               0.00
 B-2        0.00                 0.00       8,968,000.00          1.00000000               0.00
 B-3        0.00                 0.00       6,165,000.00          1.00000000               0.00
 B-4        0.00                 0.00       2,802,000.00          1.00000000               0.00
 B-5        0.00                 0.00       1,681,000.00          1.00000000               0.00
 B-6        0.00                 0.00       4,486,095.46          1.00000000               0.00
           -------------------------------------------------------------------------------------
Totals      0.00        17,126,112.16   1,013,229,341.72          0.90386752      17,126,112.16
------------------------------------------------------------------------------------------------
</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       1,080,076,000.00       916.08216313      0.00000000       15.85639544    0.00000000
 X-1                  0.00         0.00000000      0.00000000        0.00000000    0.00000000
 X-2                  0.00         0.00000000      0.00000000        0.00000000    0.00000000
 A-R                100.00         0.00000000      0.00000000        0.00000000    0.00000000
 B-1         16,815,000.00      1000.00000000      0.00000000        0.00000000    0.00000000
 B-2          8,968,000.00      1000.00000000      0.00000000        0.00000000    0.00000000
 B-3          6,165,000.00      1000.00000000      0.00000000        0.00000000    0.00000000
 B-4          2,802,000.00      1000.00000000      0.00000000        0.00000000    0.00000000
 B-5          1,681,000.00      1000.00000000      0.00000000        0.00000000    0.00000000
 B-6          4,486,095.46      1000.00000000      0.00000000        0.00000000    0.00000000
---------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                             Ending               Ending
           Realized     Total Principal    Certificate          Certificate      Total Principal
Class      Loss (3)        Reduction         Balance            Percentage         Distribution
------------------------------------------------------------------------------------------------
<S>       <C>           <C>             <C>                     <C>              <C>
  A       0.00000000       15.85639544     900.22576769          0.90022577        15.85639544
 X-1      0.00000000        0.00000000       0.00000000          0.00000000         0.00000000
 X-2      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>
                                                                                 Payment of
                                   Current         Beginning        Current        Unpaid       Current
           Original Face         Certificate      Certificate/      Accrued       Interest      Interest
Class         Amount                Rate        Notional Balance    Interest      Shortfall    Shortfall
---------------------------------------------------------------------------------------------------------
<S>       <C>                    <C>            <C>               <C>            <C>           <C>
  A       1,080,076,000.00         1.57000%     989,438,358.42    1,294,515.19       0.00         0.00
 X-1                  0.00         0.79383%     238,519,919.41      157,786.61       0.00         0.00
 X-2                  0.00         1.12251%     767,733,439.01      718,158.72       0.00         0.00
 A-R                100.00         3.16549%               0.00            0.00       0.00         0.00
 B-1         16,815,000.00         1.97000%      16,815,000.00       27,604.63       0.00         0.00
 B-2          8,968,000.00         2.62129%       8,968,000.00       19,589.75       0.00         0.00
 B-3          6,165,000.00         2.62129%       6,165,000.00       13,466.86       0.00         0.00
 B-4          2,802,000.00         2.62129%       2,802,000.00        6,120.70       0.00         0.00
 B-5          1,681,000.00         2.62129%       1,681,000.00        3,671.99       0.00         0.00
 B-6          4,486,095.46         2.62129%       4,486,095.46        9,799.45       0.00         0.00
---------------------------------------------------------------------------------------------------------
 Totals   1,120,993,195.46                                        2,250,713.90       0.00         0.00
---------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
          Non-Supported                              Remaining         Ending
           Interest                                    Unpaid       Certificate/
           Shortfall    Realized   Total Interest     Interest       Notational
Class                   Loss (4)    Distribution     Shortfall         Balance
---------------------------------------------------------------------------------
<S>       <C>           <C>        <C>               <C>           <C>
  A          0.00         0.00      1,294,515.18        0.00       972,312,246.26
 X-1         0.00         0.00        157,786.61        0.00       234,235,606.43
 X-2         0.00         0.00        718,158.71        0.00       754,891,639.83
 A-R         0.00         0.00              0.00        0.00                 0.00
 B-1         0.00         0.00         27,604.62        0.00        16,815,000.00
 B-2         0.00         0.00         19,589.75        0.00         8,968,000.00
 B-3         0.00         0.00         13,466.86        0.00         6,165,000.00
 B-4         0.00         0.00          6,120.70        0.00         2,802,000.00
 B-5         0.00         0.00          3,671.99        0.00         1,681,000.00
 B-6         0.00         0.00          9,799.45        0.00         4,486,095.46
---------------------------------------------------------------------------------
 Totals      0.00         0.00      2,250,713.87        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
Class (5)   Original Face      Certificate      Certificate           Accrued       Interest      Interest
               Amount             Rate        Notional Balance       Interest       Shortfall     Shortfall
------------------------------------------------------------------------------------------------------------
<S>        <C>                 <C>            <C>                   <C>            <C>            <C>
   A       1,080,076,000.00      1.57000%        916.08216313       1.19854083     0.00000000     0.00000000
  X-1                  0.00      0.79383%        955.17109816       0.63186844     0.00000000     0.00000000
  X-2                  0.00      1.12251%        906.22590926       0.84770834     0.00000000     0.00000000
  A-R                100.00      3.16549%          0.00000000       0.00000000     0.00000000     0.00000000
  B-1         16,815,000.00      1.97000%       1000.00000000       1.64166696     0.00000000     0.00000000
  B-2          8,968,000.00      2.62129%       1000.00000000       2.18440566     0.00000000     0.00000000
  B-3          6,165,000.00      2.62129%       1000.00000000       2.18440552     0.00000000     0.00000000
  B-4          2,802,000.00      2.62129%       1000.00000000       2.18440400     0.00000000     0.00000000
  B-5          1,681,000.00      2.62129%       1000.00000000       2.18440809     0.00000000     0.00000000
  B-6          4,486,095.46      2.62129%       1000.00000000       2.18440514     0.00000000     0.00000000
------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                                               Remaining
           Non-Supported                                         Unpaid
Class (5)    Interest        Realized      Total Interest    Interest Ending        Certificate/
             Shortfall       Loss (6)        Distribution       Shortfall        Notational Balance
---------------------------------------------------------------------------------------------------
<S>        <C>              <C>            <C>               <C>                 <C>
   A         0.00000000     0.00000000        1.19854082        0.00000000           900.22576769
  X-1        0.00000000     0.00000000        0.63186844        0.00000000           938.01424207
  X-2        0.00000000     0.00000000        0.84770833        0.00000000           891.06756061
  A-R        0.00000000     0.00000000        0.00000000        0.00000000             0.00000000
  B-1        0.00000000     0.00000000        1.64166637        0.00000000          1000.00000000
  B-2        0.00000000     0.00000000        2.18440566        0.00000000          1000.00000000
  B-3        0.00000000     0.00000000        2.18440552        0.00000000          1000.00000000
  B-4        0.00000000     0.00000000        2.18440400        0.00000000          1000.00000000
  B-5        0.00000000     0.00000000        2.18440809        0.00000000          1000.00000000
  B-6        0.00000000     0.00000000        2.18440514        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                             19,701,505.12
         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                                                          19,701,505.12

Withdrawals
         Reimbursement for Servicer Advances                                   364.13
         Payment of Service Fee                                            324,314.96
         Payment of Interest and Principal                              19,376,826.03
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            19,701,505.12

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                                                     324,314.96
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       324,314.96
                                                                        ==========
</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
<C>             <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  Principle 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         0.02160024%
    Fraud         33,629,796.00        3.00000001%       33,629,796.00         3.31907048%
Special Hazard    11,209,932.00        1.00000000%       10,303,554.54         1.01690250%
</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                                             2.998999%
Weighted Average Net Coupon                                               2.621286%
Weighted Average Pass-Through Rate                                        2.621286%
Weighted Average Maturity (Stepdown Calculation)                               316

Beginning Scheduled Collateral Loan Count                                    2,957
Number of Loans Paid in Full                                                    37
Ending Scheduled Collateral Loan Count                                       2,920

Beginning Scheduled Collateral Balance                            1,030,355,453.88
Ending Scheduled Collateral Balance                               1,013,229,341.72
Ending Actual Collateral Balance at 30-Sept-2003                  1,013,232,473.48

Monthly P&I Constant                                                  2,575,028.82
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                        1,013,229,341.72

Scheduled Principal                                                           0.00
Unscheduled Principal                                                17,126,112.16
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                  <C>                                       <C>
Principal Balance of 1-Month Libor Loans                        239,943,232.99
Principal Balance of 6-Month Libor Loans                        773,286,108.73
Pro Rata Senior Percentage                                           96.028837%
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-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]