EX-10.1 2 f00143dexv10w1.txt EXHIBIT 10.1 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 2004-3 RECORD DATE: MAY 28, 2004 DISTRIBUTION DATE: JUNE 21, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Class CUSIP Description Through Rate Balance Distribution ----- ----- ----------- ------------ ------- ------------ A 81744FAZ0 SEN 1.40000% 877,344,891.60 1,023,569.05 M-1 81744FBA4 SUB 1.60000% 13,800,000.00 18,400.00 M-2 81744FBB2 SUB 2.00000% 9,200,000.00 15,333.33 M-3 81744FBC0 SUB 2.76420% 2,300,000.00 5,298.05 X 81744FBD8 IO 0.00000% 0.00 0.00 R 81744FBE6 RES 0.00000% 0.00 0.00 -------------- ------------ Totals 902,644,891.60 1,062,600.43 -------------- ------------ Principal Current Ending Certificate Total Cumulative Class CUSIP Distribution Realized Loss Balance Distribution Realized Loss ----- ----- ------------ ------------- ------- ------------ ------------- A 81744FAZ0 13,407,606.17 0.00 863,937,285.43 14,431,175.22 0.00 M-1 81744FBA4 0.00 0.00 13,800,000.00 18,400.00 0.00 M-2 81744FBB2 0.00 0.00 9,200,000.00 15,333.33 0.00 M-3 81744FBC0 0.00 0.00 2,300,000.00 5,298.05 0.00 X 81744FBD8 0.00 0.00 0.00 0.00 0.00 R 81744FBE6 0.00 0.00 0.00 0.00 0.00 ------------- ---- -------------- ------------- ---- Totals 13,407,606.17 0.00 889,237,285.43 14,470,206.60 0.00 ------------- ---- -------------- ------------- ----
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) ----- ------ ------- ------------ ------------ --------- -------- A 894,673,000.00 877,344,891.60 0.00 13,407,606.17 0.00 0.00 M-1 13,800,000.00 13,800,000.00 0.00 0.00 0.00 0.00 M-2 9,200,000.00 9,200,000.00 0.00 0.00 0.00 0.00 M-3 2,300,000.00 2,300,000.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Totals 919,973,000.00 902,644,891.60 0.00 13,407,606.17 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution ----- --------- ------- ---------- ------------ A 13,407,606.17 863,937,285.43 0.96564587 13,407,606.17 M-1 0.00 13,800,000.00 1.00000000 0.00 M-2 0.00 9,200,000.00 1.00000000 0.00 M-3 0.00 2,300,000.00 1.00000000 0.00 X 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 ------------- -------------- ---------- ------------- Totals 13,407,606.17 889,237,285.43 0.96659063 13,407,606.17 ------------- -------------- ---------- -------------
(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
Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (3) ----- ------ ------- ------------ ------------ --------- -------- A 894,673,000.00 980.63190864 0.00000000 14.98604090 0.00000000 0.00000000 M-1 13,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution ----- --------- ------- ---------- ------------ A 14.98604090 965.64586774 0.96564587 14.98604090 M-1 0.00000000 1000.00000000 1.00000000 0.00000000 M-2 0.00000000 1000.00000000 1.00000000 0.00000000 M-3 0.00000000 1000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000
(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. INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Non- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Realized Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) ----- ------ ---------------- ------- -------- --------- --------- --------- -------- A 894,673,000.00 1.40000% 877,344,891.60 1,023,569.04 0.00 0.00 (0.01) 0.00 M-1 13,800,000.00 1.60000% 13,800,000.00 18,400.00 0.00 0.00 0.00 0.00 M-2 9,200,000.00 2.00000% 9,200,000.00 15,333.33 0.00 0.00 0.00 0.00 M-3 2,300,000.00 2.76420% 2,300,000.00 5,298.05 0.00 0.00 0.00 0.00 X 0.00 0.00000% 905,074,986.39 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ----- ---- Totals 919,973,000.00 1,062,600.42 0.00 0.00 (0.01) 0.00 -------------- ------------ ---- ---- ----- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance ----- ------------ --------- ------- A 1,023,569.05 0.00 863,937,285.43 M-1 18,400.00 0.00 13,800,000.00 M-2 15,333.33 0.00 9,200,000.00 M-3 5,298.05 0.00 2,300,000.00 X 0.00 0.00 892,689,618.51 R 0.00 0.00 0.00 ------------ ---- Totals 1,062,600.43 0.00 ------------ ----
(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
Payment of Non- Current Beginning Current Unpaid Current Supported Class Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --- ------ ---- ---------------- -------- --------- --------- --------- -------- A 894,673,000.00 1.40000% 980.63190864 1.14407056 0.00000000 0.00000000 (0.00000001) 0.00000000 M-1 13,800,000.00 1.60000% 1000.00000000 1.33333333 0.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 2.00000% 1000.00000000 1.66666630 0.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 2.76420% 1000.00000000 2.30350000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 983.80539643 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Unpaid Certificate/ Class Total Interest Interest Notational (5) Distribution Shortfall Balance --- ------------ --------- ------- A 1.14407057 0.00000000 965.64586774 M-1 1.33333333 0.00000000 1000.00000000 M-2 1.66666630 0.00000000 1000.00000000 M-3 2.30350000 0.00000000 1000.00000000 X 0.00000000 0.00000000 970.34265363 R 0.00000000 0.00000000 0.00000000
(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. CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 14,739,313.50 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 40,306.92 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 14,779,620.42 Withdrawals Reimbursement for Servicer Advances 21,522.29 Payment of Service Fee 287,891.53 Payment of Interest and Principal 14,470,206.60 ------------- Total Withdrawals (Pool Distribution Amount) 14,779,620.42 Ending Balance 0.00 =============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 ----- Non-Supported Prepayment Curtailment Interest Shortfall (0.01) =====
SERVICING FEES Gross Servicing Fee 282,989.05 Master Servicing Fee 4,902.48 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 287,891.53 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- Reserve Fund 10,000.00 0.00 0.00 10,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE --------------------------------------- --------------------------------- --------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 41 6,099,724.81 30 Days 0 0.00 30 Days 0 0.00 60 Days 6 1,100,719.29 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 -------- ------------ -------- -------- -------- -------- 47 7,200,444.10 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 1.493081% 1.803502% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.218500% 0.123303% 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% -------- ------------ -------- -------- -------- -------- 1.711580% 1.926805% 0.000000% 0.000000% 0.000000% 0.000000% REO TOTAL ---------------------------------- ------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 41 6,099,724.81 60 Days 0 0.00 60 Days 6 1,100,719.29 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 47 7,200,444.10 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 1.493081% 1.803502% 60 Days 0.000000% 0.000000% 60 Days 0.218500% 0.123303% 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% 1.711580% 1.926805%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 40,306.92
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.145940% Weighted Average Net Coupon 2.770737% Weighted Average Pass-Through Rate 2.764237% Weighted Average Maturity (Stepdown Calculation) 343 Beginning Scheduled Collateral Loan Count 2,767 Number of Loans Paid in Full 21 Ending Scheduled Collateral Loan Count 2,746 Beginning Scheduled Collateral Balance 905,074,986.39 Ending Scheduled Collateral Balance 892,689,618.51 Ending Actual Collateral Balance at 28-May-2004 892,692,364.87 Monthly P&I Constant 2,372,759.39 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 892,689,618.51 Scheduled Principal 0.00 Unscheduled Principal 12,385,367.88 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 1,022,238.30 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 4,599,867.97 Overcollateralization Amount 3,452,333.08 Overcollateralized Deficiency Amount 2,169,773.19 Base Overcollateralization Amount 0.00 Extra Principal Distribution Amount 1,022,238.30 Excess Cash Amount 1,022,238.30
MISCELLANEOUS REPORTING Applied Loss Amount 0.00 1 Month LIBOR Loan Balance 87,873,102.71 6 Month LIBOR Loan Balance 804,816,515.80 M-1 Target Amount 861,445,481.86 M-2 Target Amount 879,299,274.23 M-3 Target Amount 883,762,722.32 Senior Target Amount 834,664,793.31 Step Down Date Reached? No Trigger Event? No