Certificateholder Distribution Statement for SHT Series 2004-1 Administered by Wells Fargo Bank Minnesota, N.A.

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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 August 31, 2004. It details the distribution of principal and interest to holders of various classes of certificates, outlines realized losses, servicing fees, and account balances, and confirms that all distributions were made in accordance with the Pooling and Servicing Agreement. The statement provides a transparent summary of payments, fees, and account activity for the reporting period.

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EX-10.1 2 f02249exv10w1.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: AUGUST 31, 2004 DISTRIBUTION DATE: SEPTEMBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution ----- ----- ----------- ------------ ----------- ------------ NOTE 817419AA2 SEN 1.83000% 314,797,350.89 496,068.15 L SHT04002L DRAW 1.92000% 0.00 0.00 O SHT04002O OC 0.00000% 1,064,360.81 0.00 AMBAC FEE 0.12000% 0.00 31,479.73 --------- ----------- ------------ -------------- ---------- Totals 315,861,711.70 527,547.88 ========= =========== ============ ============== ==========
Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Loss ----- ------------ ---- -------------- ------------ --------- NOTE 7,610,022.47 0.00 307,187,328.42 8,106,090.62 0.00 L 0.00 0.00 0.00 0.00 0.00 O 0.00 0.00 1,509,798.04 0.00 0.00 AMBAC 0.00 0.00 0.00 31,479.73 0.00 ----------- ----- --------------- -------------- ---- Totals 7,610,022.47 0.00 308,697,126.46 8,137,570.35 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 Certificate Principal Principal Class Face Amount Balance Distribution Distribution Accretion ----- ----------- ------------- ------------ ------------- --------- NOTE 317,044,000.00 314,797,350.89 0.00 7,610,022.47 0.00 L 0.00 0.00 0.00 0.00 0.00 O 81.98 1,064,360.81 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------ ---- Totals 317,044,081.98 315,861,711.70 0.00 7,610,022.47 0.00 ============== ============== ==== ============ ====
Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss(1) Reduction Balance Percentage Distribution ----- --------- --------- ------- ------------ ------------ NOTE 0.00 7,610,022.47 307,187,328.42 0.96891071 7,610,022.47 L 0.00 0.00 0.00 0.00000000 0.00 O 0.00 0.00 1,509,798.04 18,416.66308856 0.00 AMBAC 0.00 0.00 0.00 0.00000000 0.00 ---- ------------ -------------- --------------- ------------ Totals 0.00 7,610,022.47 308,697,126.46 0.97367257 7,610,022.47 ==== ============ ============== =============== ============
(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 Certificate Principal Principal Class Face Amount Balance Distribution Distribution ----- ----------- ---------------- ------------ ------------ NOTE 317,044,000.00 992.91376241 0.00000000 24.00304838 L 0.00 0.00000000 0.00000000 0.00000000 O ###-###-####.50646500 0.00000000 0.00000000 -------------- ---------------- ---------- ---------- AMBAC 0.00 0.00000000 0.00000000 0.00000000 ============== ================ ========== ==========
Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Accretion Loss(3) Reduction Balance Percentage Distribution ----- --------- -------- --------- ----------------- -------------- ------------- NOTE 0.00000000 0.00000000 24.00304838 968.91071403 0.96891071 24.00304838 L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 0.00000000 18416663.08855820 18416.66308856 0.00000000 AMBAC 0.00000000 0.00000000 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 Current Certificate/ Current Unpaid Original Certificate Notional Accrued Interest Class Face Amount Rate Balance Interest Shortfall ----- ----------- ----------- ----------- ---------- --------- NOTE 317,044,000.00 1.83000% 314,797,350.89 496,068.16 0.00 L 0.00 1.92000% 0.00 0.00 0.00 O 81.98 0.00000% 1,064,360.81 0.00 0.00 AMBAC 0.00 0.12000% 314,797,350.89 31,479.74 0.00 -------------- -------- -------------- ---------- ---- Totals 317,044,081.98 527,547.90 0.00 ============== ======== ============== ========== ====
Non- Remaining Ending Current Supported Unpaid Certificate/ Interest Interest Realized Total Interest Interest Notational Class Shortfall Shortfall Loss(4) Distribution Shortfall Balance ----- --------- --------- --------- ------------ --------- --------------- NOTE 0.00 0.00 0.00 496,068.15 0.00 307,187,328.42 L 0.00 0.00 0.00 0.00 0.00 0.00 O 0.00 0.00 0.00 0.00 0.00 1,509,798.04 AMBAC 0.00 0.00 0.00 31,479.73 0.00 307,187,328.42 ---- ---- ---- ---------- ---- -------------- Totals 0.00 0.00 0.00 527,547.88 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 Current Current Unpaid Original Certificate Beginning Certificate/ Accrued Interest Class(5) Face Amount Rate Notional Balance Interest Shortfall --------- ----------- ----------- ---------------------- -------- ---------- NOTE 317,044,000.00 1.83000% 992.91376241 1.56466661 0.00000000 L 0.00 1.92000% 0.00000000 0.00000000 0.00000000 O 81.98 0.00000% 12983176.50646500 0.00000000 0.00000000 AMBAC 0.00 0.12000% 992.91376241 0.09929139 0.00000000
Non- Remaining Ending Current Supported Total Unpaid Certificate/ Interest Interest Realized Interest Interest Notational Class(5) Shortfall Shortfall Loss(6) Distribution Shortfall Balance --------- --------- --------- -------- ------------ ---------- ------------ NOTE 0.00000000 0.00000000 0.00000000 1.56466658 0.00000000 968.91071403 L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 18416663.08855820 AMBAC 0.00000000 0.00000000 0.00000000 0.09929136 0.00000000 968.91071403
(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 8,265,993.23 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 8,265,993.23 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 128,422.88 Payment of Interest and Principal 8,137,570.35 ------------ Total Withdrawals (Pool Distribution Amount) 8,265,993.23 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 124,474.61 Master Servicing Fee 3,948.27 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---- Net Servicing Fee 128,422.88 ==========
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 - -------------------------------------- ------------------------------------------------ No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 2 263,080.66 30 Days 2 207,600.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 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 -------- -------- -------- -------- 2 207,600.00 2 263,080.66 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.038632% 0.085223% 30 Days 0.038632% 0.067250% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 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% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.038632% 0.067250% 0.038632% 0.085223%
FORECLOSURE REO TOTAL - ------------------------------------------ ------------------------------------------- -------------------------------------- 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 2 263,080.66 30 Days 0 0.00 30 Days 0 0.00 30 Days 2 207,600.00 60 Days 0 0.00 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 -------- -------- -------- -------- -------- -------- 0 0.00 0 0.00 4 470,680.66 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 0.038632% 0.085223% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.038632% 0.067250% 60 Days 0.000000% 0.000000% 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% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% 0.077265% 0.152473%
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% 1,509,798.04 Class O 0.00 0.00000000% 0.00
Class L 0.49149099% 0.000000% 0.000000% Class O 0.00000000% 0.491491% 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 4.184393% Weighted Average Net Coupon 3.711498% Weighted Average Pass-Through Rate 3.696498% Weighted Average Maturity (Stepdown Calculation) 123 Beginning Scheduled Collateral Loan Count 5,311 Number of Loans Paid in Full 134 Ending Scheduled Collateral Loan Count 5,177 Beginning Scheduled Collateral Balance 315,624,668.69 Ending Scheduled Collateral Balance 307,187,328.42 Ending Actual Collateral Balance at 31-Aug-2004 308,697,126.46 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 13,856,053.81 Cumulative Loss Percent 0.00000% Managed Amortization Period YES Overcollateralization Amount 1,509,798.04 Six Month Rolling Delinquency 0.00000% Specified Overcollateralization Amount 3,963,051.02 3 Largest Loan Balance 4,875,000.00 Draw Amount 13,856,053.81 Rapid Amortization Event NO Excess Cashflow 445,437.21