EX-10.1 2 f07709aexv10w1.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 2004-5 RECORD DATE: FEBRUARY 28, 2005 DISTRIBUTION DATE: MARCH 21, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Current Class CUSIP Description Through Rate Balance Distribution Distribution Realized Loss ------ --------- ----------- ----------------- -------------- -------------- ------------- ------------- A-1 81744FBS5 SEN 3.59186% 456,787,469.83 1,367,121.93 11,469,024.03 0.00 A-2 81744FBT3 SEN 2.85813% 158,712,681.37 378,017.89 6,303,647.61 0.00 A-3 81744FCF2 SEN 2.82000% 64,042,843.01 150,500.68 2,543,612.21 0.00 X-1 81744FBU0 IO 0.80000% 0.00 123,764.98 0.00 0.00 X-2 81744FBV8 IO 0.21212% 0.00 39,374.78 0.00 0.00 X-B 81744FBX4 IO 0.41128% 0.00 8,010.79 0.00 0.00 B-1 81744FBZ9 SUB 3.07813% 14,874,000.00 38,150.53 0.00 0.00 B-2 81744FCA3 SUB 3.47813% 8,499,000.00 24,631.99 0.00 0.00 B-3 81744FCB1 SUB 3.63486% 4,674,000.00 14,156.73 0.00 0.00 B-4 81744FCC9 SUB 3.63486% 2,124,000.00 6,433.22 0.00 0.00 B-5 81744FCD7 SUB 3.63486% 2,124,000.00 6,433.22 0.00 0.00 B-6 81744FCE5 SUB 3.63486% 3,830,447.31 11,601.75 0.00 0.00 A-R 81744FBY2 RES 3.08123% 0.00 0.00 0.00 0.00 --------- ----------- ------------ -------------- -------------- ------------- ------------- Totals 715,668,441.52 2,168,198.49 20,316,283.85 0.00 --------- ----------- ------------ -------------- -------------- ------------- ------------- Ending Certificate Total Cumulative Class Balance Distribution Realized Loss ------ -------------- ---------------- -------------- A-1 445,318,445.80 12,836,145.96 0.00 A-2 152,409,033.76 6,681,665.50 0.00 A-3 61,499,230.80 2,694,112.89 0.00 X-1 0.00 123,764.98 0.00 X-2 0.00 39,374.78 0.00 X-B 0.00 8,010.79 0.00 B-1 14,874,000.00 38,150.53 0.00 B-2 8,499,000.00 24,631.99 0.00 B-3 4,674,000.00 14,156.73 0.00 B-4 2,124,000.00 6,433.22 0.00 B-5 2,124,000.00 6,433.22 0.00 B-6 3,830,447.31 11,601.75 0.00 A-R 0.00 0.00 0.00 -------------- ---------------- -------------- Totals 695,352,157.67 22,484,482.34 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 Total Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction ------ -------------- -------------- ------------ ------------- --------- ------------ --------------- A-1 553,000,000.00 456,787,469.83 688.10 11,468,335.93 0.00 0.00 11,469,024.03 A-2 185,867,000.00 158,712,681.37 1,636.61 6,302,011.00 0.00 0.00 6,303,647.61 A-3 75,000,000.00 64,042,843.01 660.39 2,542,951.82 0.00 0.00 2,543,612.21 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 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 14,874,000.00 14,874,000.00 0.00 0.00 0.00 0.00 0.00 B-2 8,499,000.00 8,499,000.00 0.00 0.00 0.00 0.00 0.00 B-3 4,674,000.00 4,674,000.00 0.00 0.00 0.00 0.00 0.00 B-4 2,124,000.00 2,124,000.00 0.00 0.00 0.00 0.00 0.00 B-5 2,124,000.00 2,124,000.00 0.00 0.00 0.00 0.00 0.00 B-6 3,830,447.31 3,830,447.31 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ------------ ------------- --------- ---------- -------------- Totals 849,992,547.31 715,668,441.52 2,985.10 20,313,298.75 0.00 0.00 20,316,283.85 -------------- -------------- ------------ ------------- --------- ---------- -------------- Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution ------ ------------------ ------------------- ---------------- A-1 445,318,445.80 0.80527748 11,649,024.03 A-2 152,409,033.76 0.81998974 6,303,647.61 A-3 61,499,230.80 0.81998974 2,543,612.21 X-1 0.00 0.00000000 0.00 X-2 0.00 0.00000000 0.00 X-B 0.00 0.00000000 0.00 B-1 14,874,000.00 1.00000000 0.00 B-2 8,499,000.00 1.00000000 0.00 B-3 4,674,000.00 1.00000000 0.00 B-4 2,124,000.00 1.00000000 0.00 B-5 2,124,000.00 1.00000000 0.00 B-6 3,830,447.31 1.00000000 0.00 A-R 0.00 0.00000000 0.00 ---------------- ----------------- ------------- Totals 695,352,157.67 0.81806853 20,316,283.85 ---------------- ----------------- -------------
(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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction ----- -------------- ------------- ------------ ------------- ---------- ---------- ------------ A-1 553,000,000.00 826.01712447 0.00124430 20.73840132 0.00000000 0.00000000 20.73964562 A-2 185,867,000.00 853.90457354 0.00880527 33.90602420 0.00000000 0.00000000 33.91482947 A-3 75,000,000.00 853.90457347 0.00880520 33.90602427 0.00000000 0.00000000 33.91482947 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 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,874,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,499,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,674,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,124,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,124,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,830,447.31 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution ----- --------------- ----------- --------------- A-1 805.27747884 0.80527748 20.73964562 A-2 819.98974406 0.81998974 33.91482947 A-3 819.98974400 0.81998974 33.91482947 X-1 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 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 A-R 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-1 553,000,000.00 3.59186% 456,787,469.83 1,367,265.12 0.00 0.00 143.20 0.00 A-2 185,867,000.00 2.85813% 158,712,681.37 378,017.90 0.00 0.00 0.00 0.00 A-3 75,000,000.00 2.82000% 64,042,843.01 150,500.68 0.00 0.00 0.00 0.00 X-1 0.00 0.80000% 185,647,469.97 123,764.98 0.00 0.00 0.00 0.00 X-2 0.00 0.21212% 222,755,524.38 39,374.78 0.00 0.00 0.00 0.00 X-B 0.00 0.41128% 23,373,000.00 8,010.79 0.00 0.00 0.00 0.00 B-1 14,874,000.00 3.07813% 14,874,000.00 38,153.42 0.00 0.00 2.89 0.00 B-2 8,499,000.00 3.47813% 8,499,000.00 24,633.86 0.00 0.00 1.87 0.00 B-3 4,674,000.00 3.63486% 4,674,000.00 14,157.80 0.00 0.00 1.07 0.00 B-4 2,124,000.00 3.63486% 2,124,000.00 6,433.71 0.00 0.00 0.49 0.00 B-5 2,124,000.00 3.63486% 2,124,000.00 6,433.71 0.00 0.00 0.49 0.00 B-6 3,830,447.31 3.63486% 3,830,447.31 11,602.63 0.00 0.00 0.88 0.00 A-R 100.00 3.08123% 0.00 0.00 0.00 0.00 0.00 0.00 --------------- ------------ -------------- ------------ -------- -------- --------- -------- Totals 849,992,547.31 2,168,349.38 0.00 0.00 150.89 0.00 --------------- ------------ -------------- ------------ -------- -------- --------- -------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance ----- -------------- ---------- -------------- A-1 1,367,121.93 0.00 445,318,445.80 A-2 378,017.89 0.00 152,409,033.80 A-3 150,500.68 0.00 61,499,230.80 X-1 123,764.98 0.00 178,692,873.11 X-2 39,374.78 0.00 213,908,264.56 X-B 8,010.79 0.00 23,373,000.00 B-1 38,150.53 0.00 14,874,000.00 B-2 24,631.99 0.00 8,499,000.00 B-3 14,156.73 0.00 4,674,000.00 B-4 6,433.22 0.00 2,124,000.00 B-5 6,433.22 0.00 2,124,000.00 B-6 11,601.75 0.00 3,830,447.31 A-R 0.00 0.00 0.00 --------------- ---------- -------------- Totals 2,168,198.49 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 Unpaid Current Supported Class Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) ----- --------------- ------------- ---------------- --------------- ----------- ------------ ---------- ---------- A-1 553,000,000.00 3.59186% 826.01712447 2.47245049 0.00000000 0.00000000 0.00025895 0.00000000 A-2 185,867,000.00 2.85813% 853.90457354 2.03380858 0.00000000 0.00000000 0.00000000 0.00000000 A-3 75,000,000.00 2.82000% 853.90457347 2.00667573 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.80000% 711.65563283 0.47443709 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.21212% 853.90457352 0.15093814 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.41128% 1000.00000000 0.34273692 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,874,000.00 3.07813% 1000.00000000 2.56510824 0.00000000 0.00000000 0.00019430 0.00000000 B-2 8,499,000.00 3.47813% 1000.00000000 2.89844217 0.00000000 0.00000000 0.00022003 0.00000000 B-3 4,674,000.00 3.63486% 1000.00000000 3.02905434 0.00000000 0.00000000 0.00023893 0.00000000 B-4 2,124,000.00 3.63486% 1000.00000000 3.02905367 0.00000000 0.00000000 0.00023070 0.00000000 B-5 2,124,000.00 3.63486% 1000.00000000 3.02905367 0.00000000 0.00000000 0.00023070 0.00000000 B-6 3,830,447.31 3.63486% 1000.00000000 3.02905354 0.00000000 0.00000000 0.00022974 0.00000000 A-R 100.00 3.08123% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance ------ -------------- ---------- ------------------- A-1 2.47219156 0.00000000 805.27747884 A-2 2.03380853 0.00000000 819.98974406 A-3 2.00667573 0.00000000 819.98974400 X-1 0.47443709 0.00000000 684.99608272 X-2 0.15093814 0.00000000 819.98974405 X-B 0.34273692 0.00000000 1000.00000000 B-1 2.56491394 0.00000000 1000.00000000 B-2 2.89822214 0.00000000 1000.00000000 B-3 3.02882542 0.00000000 1000.00000000 B-4 3.02882298 0.00000000 1000.00000000 B-5 3.02882298 0.00000000 1000.00000000 B-6 3.02882381 0.00000000 1000.00000000 A-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 22,706,723.87 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 29,550.40 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 22,736,274.27 Withdrawals Reimbursement for Servicer Advances 22,619.88 Payment of Service Fee 229,172.05 Payment of Interest and Principal 22,484,482.34 ------------- Total Withdrawals (Pool Distribution Amount) 22,736,274.27 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 150.89 ======
SERVICING FEES Gross Servicing Fee 223,847.33 LPMI 851.83 Master Servicing Fee 4,472.89 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 229,172.05 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance --------------------- --------- ----------- -------- -------- Class X-1 Sub Account 4,500.00 0.00 0.00 4,500.00 Class X-2 Sub Account 4,500.00 0.00 0.00 4,500.00 Class X-B Sub Account 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 21 8,305,603.55 60 Days 2 1,019,138.61 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 133,459.32 180+ Days 0 0.00 -------- ------------ 24 9,458,201.48 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.998573% 1.194444% 60 Days 0.095102% 0.146564% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.047551% 0.019193% 180+ Days 0.000000% 0.000000% -------- -------- 1.141227% 1.360201%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 21 8,305,603.55 60 Days 2 1,019,138.61 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 133,459.32 180+ Days 0 0.00 -------- ------------ 24 9,458,201.48 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.998573% 1.194444% 60 Days 0.095102% 0.146564% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.047551% 0.019193% 180+ Days 0.000000% 0.000000% -------- -------- 1.141227% 1.360201%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 29,550.40
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 36,125,447.31 4.25008989% 36,125,447.31 5.19527363% 94.804726% 0.000000% Class X-1 36,125,447.31 4.25008989% 36,125,447.31 5.19527363% 0.000000% 0.000000% Class X-2 36,125,447.31 4.25008989% 36,125,447.31 5.19527363% 0.000000% 0.000000% Class B-1 21,251,447.31 2.50019219% 21,251,447.31 3.05621361% 2.139060% 41.173193% Class B-2 12,752,447.31 1.50030107% 12,752,447.31 1.83395524% 1.222258% 23.526352% Class B-3 8,078,447.31 0.95041390% 8,078,447.31 1.16177784% 0.672177% 12.938248% Class B-4 5,954,447.31 0.70052936% 5,954,447.31 0.85632111% 0.305457% 5.879512% Class B-5 3,830,447.31 0.45064481% 3,830,447.31 0.55086437% 0.305457% 5.879512% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.550864% 10.603183%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP DELINQUENT GROUP ONE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 14 5,160,767.16 60 Days 1 277,987.87 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 133,459.32 180+ Days 0 0.00 -------- ------------ 16 5,572,214.35 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.954980% 1.098351% 60 Days 0.068213% 0.059163% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.068213% 0.028404% 180+ Days 0.000000% 0.000000% -------- -------- 1.091405% 1.185918%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 14 5,160,767.16 60 Days 1 277,987.87 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 133,459.32 180+ Days 0 0.00 -- ------------ 16 5,572,214.35 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.954980% 1.098351% 60 Days 0.068213% 0.059163% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.068213% 0.028404% 180+ Days 0.000000% 0.000000% -------- ------------ 1.091405% 1.185918%
DELINQUENT GROUP TWO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 7 3,144,836.39 60 Days 1 741,150.74 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 8 3,885,987.13 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.098901% 1.394678% 60 Days 0.156986% 0.328687% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 1.255887% 1.723364%
BANKRUPTCY
1.183654% No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 7 3,144,836.39 60 Days 1 741,150.74 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 8 3,885,987.13 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.098901% 1.394678% 60 Days 0.156986% 0.328687% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 1.255887% 1.723364%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 4.020054% Weighted Average Net Coupon 3.644717% Weighted Average Pass-Through Rate 3.635789% Weighted Average Maturity (Stepdown Calculation) 333 Beginning Scheduled Collateral Loan Count 2,155 Number of Loans Paid in Full 52 Ending Scheduled Collateral Loan Count 2,103 Beginning Scheduled Collateral Balance 715,668,441.52 Ending Scheduled Collateral Balance 695,352,157.67 Ending Actual Collateral Balance at 28-Feb-2005 695,353,382.00 Monthly P&I Constant 2,400,506.51 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 22,375,207.31 Ending Scheduled Balance for Premium Loans 695,352,157.67 Scheduled Principal 2,985.10 Unscheduled Principal 20,313,298.75
GROUP GROUP ONE GROUP TWO TOTAL Collateral Description 6 Month LIBOR ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.976036 4.110467 4.020054 Weighted Average Net Rate 3.600536 3.735467 3.644717 Pass-Through Rate 3.591863 3.726013 3.635789 Weighted Average Maturity 335 328 333 Record Date 02/28/2005 02/28/2005 02/28/2005 Principal and Interest Constant 1,595,519.85 804,986.66 2,400,506.51 Beginning Loan Count 1,499 656 2,155 Loans Paid in Full 33 19 52 Ending Loan Count 1,466 637 2,103 Beginning Scheduled Balance 481,333,140.58 234,335,300.94 715,668,441.52 Ending Scheduled Balance 469,864,116.55 225,488,041.12 695,352,157.67 Scheduled Principal 688.10 2,297.00 2,985.10 Unscheduled Principal 11,468,335.93 8,844,962.82 20,313,298.75 Scheduled Interest 1,594,831.75 802,689.66 2,397,521.41 Servicing Fee 150,617.52 73,229.81 223,847.33 Master Servicing Fee 3,008.32 1,464.57 4,472.89 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 470.22 381.61 851.83 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 1,440,735.69 727,613.67 2,168,349.36 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00
MISCELLANEOUS REPORTING Group One Six-Month Libor Loan Balance 469,864,116.55 Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Prorata Senior Percentage 94.900482% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Group Two One-Month Libor Loan Balance 129,060,524.62 Six-Month Libor Loan Balance 96,427,516.50 Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Prorata Senior Percentage 95.058458% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%