EX-35.2
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It's a privilege to serve you

Feb 28, 2013

Servicer Compliance Statement
For SEMT 2012-1 (see Schedule A)


(i)a review of the Servicer's activities during the reporting period from
January 1, 2012 through December 31, 2012 and of its performance under the
Agreements (each of the agreements and the Reconstitution Agreement as defined
on Schedule A attached hereto) from the above referenced trust during such
period has been made under such officer's supervision, and

(ii)to the best of such officers' knowledge, based on such review, the
Servicer has fulfilled all of its obligations under the Agreements and any
applicable Reconstitution Agreement in all material respects throughout such
reporting period (or applicable portion thereof) or, if there has been a
failure to fulfill any such obligation in any material respect, specifically
identifying each such failure known to such officer and the nature and the
status thereof.

First Republic Bank

/s/ Tony Sachs
Tony Sachs
Vice President
February 28, 2013

SCHEDULE A

1.Flow Mortgage Loan Sale and Servicing Agreement dated as of July 1, 2010,
between Redwood Residential Acquisition Corporation and First Republic Bank, as
modified by Reconstitution Agreement dated January 27, 2012; and

2.Flow Mortgage Loan Sale and Servicing Agreement dated as of April 8, 2011,
between DLJ Mortgage Capital, Inc. and First Republic Bank, as modified by
Reconstitution Agreement dated January 27, 2012

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