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FILED PURSUANT TO RULE 424(b)(3)
REGISTRATION NO. 333-44860
SUPPLEMENT DATED JANUARY 19, 2001
TO THE PROSPECTUS DATED JANUARY 19, 2001
SPECIALTY MORTGAGE TRUST, INC.
COLLATERALIZED INVESTMENT NOTES
The prospectus dated January 19, 2001 should be read in its entirety by
anyone considering an investment in the Collateralized Investment Notes being
offered by Specialty Mortgage Trust, Inc. CONSIDER CAREFULLY THE RISK FACTORS
BEGINNING ON PAGE 13 OF THE PROSPECTUS.
YOU HAVE TWO OPTIONS WITH OUR INVESTMENT NOTES:
OPTION 1 - MONTHLY INTEREST CHECKS
OPTION 2 - ALLOW YOUR INTEREST TO COMPOUND
MONTHLY AND RECEIVE ONE CHECK AT THE
END OF THE TERM
You can choose monthly interest checks or reinvest your interest to
earn the benefit of monthly compounding!
As you already know, we issue our notes on the 20th of the month in a limited
supply. Our Collateralized Investment Notes are backed by mortgage collateral
and administered by Bankers Trust. With a minimum investment of $25,000 you
can start earning the following yields.
January 20, 2001 Offering:
TERM RATE TERM RATE
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3 months 7.00% 4 months 7.15%
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5 months 7.25% 6 months 7.50%
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7 months 7.60% 8 months 7.70%
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9 months 7.75% 10 months 7.85%
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11 months 7.95% 12 months 8.00%
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Please call Stacy Asteriadis at (775) 826-0809.
THE SHORT-TERM INVESTMENTS REFERRED TO ABOVE ARE NOT INSURED OR
GUARANTEED BY ANY GOVERNMENTAL AGENCY. OFFERS OF THE INVESTMENTS ARE MADE ONLY
BY THE PROSPECTUS.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE
SECURITIES COMMISSION HAS APPROVED OR DISPROVED THESE SECURITIES OR DETERMINED
IF THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.