Wells Fargo Bank Minnesota, N.A. SHT Series 2004-1 Certificateholder Distribution Statement (September 2004)

Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. for certificateholders of the SHT Series 2004-1 as of September 30, 2004. It details the allocation of principal and interest payments, realized losses, and fees among different classes of certificates. The statement summarizes the amounts distributed, outstanding balances, and interest rates for each class, in accordance with the Pooling and Servicing Agreement. No realized losses are reported for this period, and all calculations are performed by the Certificate Administrator on behalf of the Trustee.

Read More Arrow
EX-10.1 2 f03046exv10w1.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 SHT SERIES 2004-1 RECORD DATE: SEPTEMBER 30, 2004 DISTRIBUTION DATE: OCTOBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Certificate Interest Principal Current Class CUSIP Description Pass-Through Balance Distribution Distribution Realized Loss Rate - ------------------------------------------------------------------------------------------------------------------------------------ NOTE 817419AA2 SEN 2.04125% 307,187,328.42 522,538.44 7,555,174.73 0.00 L SHT04002L DRAW 2.31125% 0.00 0.00 0.00 0.00 O SHT04002O OC 0.00000% 1,509,798.04 0.00 0.00 0.00 AMBAC FEE 0.12000% 0.00 30,718.72 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ Totals 308,697,126.46 553,257.16 7,555,174.73 0.00 - ------------------------------------------------------------------------------------------------------------------------------------
Ending Total Cumulative Class CUSIP Certificate Distribution Realized Loss Balance - ------------------------------------------------------------------------------- NOTE 817419AA2 299,632,153.69 8,077,713.17 0.00 L SHT04002L 0.00 0.00 0.00 O SHT04002O 1,928,388.47 0.00 0.00 AMBAC 0.00 30,718.72 0.00 - -------------------------------------------------------------------------------- Totals 301,560,542.16 8,108,431.89 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 Class Amount Balance Distribution Distribution Accretion Loss (1) Principal Reduction - -------------------------------------------------------------------------------------------------------------------------------- NOTE 317,044,000.00 307,187,328.42 0.00 3,963,051.02 0.00 0.00 7,555,174.73 L 0.00 0.00 0.00 0.00 0.00 0.00 0.00 O 81.98 1,509,798.04 0.00 0.00 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------------------------------------------- Totals 317,044,081.98 308,697,126.46 0.00 3,963,051.02 0.00 0.00 7,555,174.73 - --------------------------------------------------------------------------------------------------------------------------------
Ending Ending Total Principal Class Certificate Certificate Distribution Balance Percentage - ------------------------------------------------------------------ NOTE 299,632,153.69 0.94508066 7,555,174.73 L 0.00 0.00000000 0.00 O 1,928,388.47 23,522.66979751 0.00 AMBAC 0.00 0.00000000 0.00 - ------------------------------------------------------------------- Totals 301,560,542.16 0.95116282 7,555,174.73 - -------------------------------------------------------------------
(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 - --------------------------------------------------------------------------------------------------------------------------------- NOTE 317,044,000.00 968.91071403 0.00000000 12.50000322 0.00000000 0.00000000 23.83005113 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O ###-###-####.08855820 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - ---------------------------------------------------------------------------------------------------------------------------------
Ending Total Ending Certificate Certificate Principal Class Balance Percentage Distribution - ------------------------------------------------------------------ NOTE 945.08066290 0.94508066 23.83005113 L 0.00000000 0.00000000 0.00000000 O 23522669.79751160 23522.66979751 0.00000000 AMBAC 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-Supported Certificate/ Current Unpaid Current Interest Original Face Current Notional Accrued Interest Interest Shortfall Class Amount Certificate Balance Interest Shortfall Shortfall Rate - -------------------------------------------------------------------------------------------------------------------------- NOTE 317,044,000.00 2.04125% 307,187,328.42 522,538.45 0.00 0.00 0.00 L 0.00 2.31125% 0.00 0.00 0.00 0.00 0.00 O 81.98 0.00000% 1,509,798.04 0.00 0.00 0.00 0.00 AMBAC 0.00 0.12000% 307,187,328.42 30,718.73 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------------------------------------- Totals 317,044,081.98 553,257.18 0.00 0.00 0.00 - --------------------------------------------------------------------------------------------------------------------------
Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - ------------------------------------------------------------------------- NOTE 0.00 522,538.44 0.00 299,632,153.69 L 0.00 0.00 0.00 0.00 O 0.00 0.00 0.00 1,928,388.47 AMBAC 0.00 30,718.72 0.00 299,632,153.69 - -------------------------------------------------------------------------- Totals 0.00 553,257.16 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-Supported Current Beginning Current Unpaid Current Interest Class (5) Original Face Certificate Certificate/ Accrued Interest Interest Shortfall Amount Rate Notional Balance Interest Shortfall Shortfall - --------------------------------------------------------------------------------------------------------------------------- NOTE 317,044,000.00 2.04125% 968.91071403 1.64815751 0.00000000 0.00000000 0.00000000 L 0.00 2.31125% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 81.98 0.00000% 18416663.08855820 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.12000% 968.91071403 0.09689106 0.00000000 0.00000000 0.00000000 - ---------------------------------------------------------------------------------------------------------------------------
Remaining Unpaid Class (5) Realized Total Interest Ending Certificate/ Loss (6) Interest Shortfall Notational Balance Distribution - ----------------------------------------------------------------------------- NOTE 0.00000000 1.64815748 0.00000000 945.08066290 L 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 0.00000000 23522669.79751160 AMBAC 0.00000000 0.09689103 0.00000000 945.08066290 - --------------------------------------------------------------------------------
(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 8,231,699.93 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 8,231,699.93 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 123,268.02 Payment of Interest and Principal 8,108,431.91 ------------ Total Withdrawals (Pool Distribution Amount) 8,231,699.93 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 0.00 ==== SERVICING FEES Gross Servicing Fee 119,409.31 Master Servicing Fee 3,858.71 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 123,268.02 ========== OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------------------------------------------------------------------------ Financial Guaranty 0.00 0.00 0.00 0.00 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 3 215,195.62 0-29 Days 1 48,000.00 30 Days 5 481,696.03 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 207,600.00 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 ----------------------- ------------------ ------------------ 7 689,296.03 3 215,195.62 1 48,000.00
REO TOTAL - ------------------------------------------------------------------------------ No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 4 263,195.62 30 Days 0 0.00 30 Days 5 481,696.03 60 Days 0 0.00 60 Days 2 207,600.00 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 11 952,491.65
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 0.059630% 0.071361% 0-29 Days 0.019877% 0.015917% 30 Days 0.099384% 0.159734% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.039754% 0.068842% 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% ---------------------- --------------------- --------------------- 0.139137% 0.228576% 0.059630% 0.071361% 0.019877% 0.015917%
No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.079507% 0.087278% 30 Days 0.000000% 0.000000% 30 Days 0.099384% 0.159734% 60 Days 0.000000% 0.000000% 60 Days 0.039754% 0.068842% 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% 0.218644% 0.315854% Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Class L 81.98 0.00002586% 1,928,388.47 0.64358529% 0.000000% 0.000000% Class O 0.00 0.00000000% 0.00 0.00000000% 0.643585% 0.000000%
Please refer to the prospectus supplement for a full description of loss exposure COLLATERAL STATEMENT Collateral Description Mixed Arm Weighted Average Gross Coupon 4.257049% Weighted Average Net Coupon 3.792868% Weighted Average Pass-Through Rate 3.777868% Weighted Average Maturity (Stepdown Calculation) 122 Beginning Scheduled Collateral Loan Count 5,177 Number of Loans Paid in Full 146 Ending Scheduled Collateral Loan Count 5,031 Beginning Scheduled Collateral Balance 307,187,328.42 Ending Scheduled Collateral Balance 299,632,153.69 Ending Actual Collateral Balance at 30-Sept-2004 301,560,542.16 Monthly P&I Constant 0.00 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 MISCELLANEOUS REPORTING Additional Balance Contributed Amount 0.00 Additional Balance 11,264,893.22 Cumulative Loss Percent 0.00000% Managed Amortization Period YES Overcollateralization Amount 1,928,388.47 Six Month Rolling Delinquency 0.993595% Specified Overcollateralization Amount 3,963,051.02 3 Largest Loan Balance 4,875,000.00 Draw Amount 11,264,893.22 Rapid Amortization Event NO Excess Cashflow 418,590.42