Wells Fargo Bank Minnesota, N.A. SMT Series 2004-10 Certificateholder Distribution Statement (March 2005)

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2004-10 trust. It summarizes the payments of principal and interest made to holders of various classes of asset-backed certificates as of the March 21, 2005 distribution date. The statement details the amounts distributed, current balances, and realized losses for each certificate class, in accordance with the Pooling and Servicing Agreement. No realized losses are reported for this period, and all calculations are performed on behalf of the trustee for the benefit of certificateholders.

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EX-10.1 2 f07714aexv10w1.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 2004-10 RECORD DATE: FEBRUARY 28, 2005 DISTRIBUTION DATE: MARCH 21, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Principal Class CUSIP Description Rate Certificate Balance Distribution Distribution - ----- ----- ----------- ---- ------------------- ------------ ------------ A-1A 81744FET0 SEN 2.90813% 106,013,469.28 256,917.46 2,163,677.88 A-1B 81744FEU7 SEN 2.96813% 11,781,951.47 29,141.97 240,463.29 A-2 81744FEV5 SEN 2.91813% 196,068,056.39 476,973.40 4,001,643.55 A-3A 81744FEW3 SEN 2.57000% 167,207,486.30 358,102.70 3,199,333.27 A-3B 81744FEX1 SEN 2.63000% 18,578,609.59 40,718.12 355,481.47 A-4 81744FEY9 SEN 2.58000% 117,787,455.86 253,243.03 2,253,734.77 X-A 81744FEZ6 IO 0.68908% 0.00 354,553.24 0.00 X-B 81744FFA0 IO 0.22805% 0.00 3,909.07 0.00 B-1 81744FFC6 SUB 3.09813% 14,042,000.00 36,253.28 0.00 B-2 81744FFD4 SUB 3.44813% 6,849,000.00 19,680.20 0.00 B-3 81744FFE2 SUB 3.43742% 3,767,000.00 10,790.62 0.00 B-4 81744FFF9 SUB 3.43742% 3,081,000.00 8,825.57 0.00 B-5 81744FFG7 SUB 3.43742% 1,711,000.00 4,901,18 0.00 B-6 81744FFH5 SUB 3.43742% 3,097,055.38 8,871.56 0.00 A-R 81744FFB8 RES 3.18870% 0.00 0.14 0.00 -------------- ------------ ------------- Totals 649,984,084.27 1,862,701.54 12,214,334.23 -------------- ------------ -------------
Current Ending Total Cumulative Class CUSIP Realized Loss Certificate Balance Distribution Realized Loss - ----- ----- ------------- ------------------- ------------ ------------- A-1A 81744FET0 0.00 103,849,791.40 2,420,595.34 0.00 A-1B 81744FEU7 0.00 11,541,488.18 269,605.26 0.00 A-2 81744FEV5 0.00 192,066,412.84 4,478,436.95 0.00 A-3A 81744FEW3 0.00 164,008,153.03 3,557,435.97 0.00 A-3B 81744FEX1 0.00 18,223,128.11 396,199.59 0.00 A-4 81744FEY9 0.00 115,533,721.09 2,506,977.80 0.00 X-A 81744FEZ6 0.00 0.00 354,553.24 0.00 X-B 81744FFA0 0.00 0.00 3,909.07 0.00 B-1 81744FFC6 0.00 14,042,000.00 36,253.28 0.00 B-2 81744FFD4 0.00 6,849,000.00 19,680.20 0.00 B-3 81744FFE2 0.00 3,767,000.00 10,790.62 0.00 B-4 81744FFF9 0.00 3,081,000.00 8,825.57 0.00 B-5 81744FFG7 0.00 1,711,000.00 4,901.18 0.00 B-6 81744FFH5 0.00 3,097,055.38 8,871.56 0.00 A-R 81744FFB8 0.00 0.00 0.14 0.00 ---- -------------- ------------- ---- Totals 0.00 637,769,750.03 14,077,035.77 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-1A 110,000,000.00 106,013,469.28 0.00 2,163,677.88 0.00 0.00 A-1B 12,225,000.00 11,781,951.47 0.00 240,463.29 0.00 0.00 A-2 203,441,000.00 196,068,056.39 0.00 4,001,643.55 0.00 0.00 A-3A 180,000,000.00 167,207,486.30 0.00 3,199,333.27 0.00 0.00 A-3B 20,000,000.00 18,578,609.59 0.00 355,481.47 0.00 0.00 A-4 126,799,000.00 117,787,455.86 0.00 2,253,734.77 0.00 0.00 X-A 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 B-1 14,042,000.00 14,042,000.00 0.00 0.00 0.00 0.00 B-2 6,849,000.00 6,849,000.00 0.00 0.00 0.00 0.00 B-3 3,767,000.00 3,767,000.00 0.00 0.00 0.00 0.00 B-4 3,081,000.00 3,081,000.00 0.00 0.00 0.00 0.00 B-5 1,711,000.00 1,711,000.00 0.00 0.00 0.00 0.00 B-6 3,097,055.38 3,097,055.38 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Totals 685,012,155.38 649,984,084.27 0.00 12,214,334.23 0.00 0.00 -------------- -------------- ---- ------------- ---- ----
Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------- ------- ---------- ------------ A-1A 2,163,677.88 103,849,791.40 0.94408901 2,163,677.88 A-1B 240,463.29 11,541,488.18 0.94408901 240,463.29 A-2 4,001,643.55 192,066,412.84 0.94408901 4,001,643.55 A-3A 3,199,333.27 164,008,153.03 0.91115641 3,199,333.27 A-3B 355,481.47 18,223,128.11 0.91115641 355,481.47 A-4 2,253,734.77 115,533,721.09 0.91115641 2,253,734.77 X-A 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-1 0.00 14,042,000.00 1.00000000 0.00 B-2 0.00 6,849,000.00 1.00000000 0.00 B-3 0.00 3,767,000.00 1.00000000 0.00 B-4 0.00 3,081,000.00 1.00000000 0.00 B-5 0.00 1,711,000.00 1.00000000 0.00 B-6 0.00 3,097,055.38 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ------------- -------------- ---------- ------------- Totals 12,214,334.23 637,769,750.03 0.93103421 12,214,334.23 ------------- -------------- ---------- -------------
(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-1A 110,000,000.00 963.75881164 0.00000000 19.66979891 0.00000000 0.00000000 A-1B 12,225,000.00 963.75881145 0.00000000 19.66979877 0.00000000 0.00000000 A-2 203,441,000.00 963.75881160 0.00000000 19.66979886 0.00000000 0.00000000 A-3A 180,000,000.00 928.93047944 0.00000000 17.77407372 0.00000000 0.00000000 A-3B 20,000,000.00 928.93047950 0.00000000 17.77407350 0.00000000 0.00000000 A-4 126,799,000.00 928.93047942 0.00000000 17.77407369 0.00000000 0.00000000 X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,042,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 6,849,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,767,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 3,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,711,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,097,055.38 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Ending Total Principal Ending Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------- ------- ---------- ------------ A-1A 19.66979891 944.08901273 0.94408901 19.66979891 A-1B 19.66979877 944.08901268 0.94408901 19.66979877 A-2 19.66979886 944.08901274 0.94408901 19.66979886 A-3A 17.77407372 911.15640572 0.91115641 17.77407372 A-3B 17.77407350 911.15640550 0.91115641 17.77407350 A-4 17.77407369 911.15640573 0.91115641 17.77407369 X-A 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000 A-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-1A 110,000,000.00 2.90813% 106,013,469.28 256,917.46 0.00 0.00 0.00 0.00 A-1B 12,225,000.00 2.96813% 11,781,951.47 29,141.97 0.00 0.00 0.00 0.00 A-2 203,441,000.00 2.91813% 196,068,056.39 476,793.40 0.00 0.00 0.00 0.00 A-3A 180,000,000.00 2.57000% 167,207,486.30 358,102.70 0.00 0.00 0.00 0.00 A-3B 20,000,000.00 2.63000% 18,578,609.59 40,718.12 0.00 0.00 0.00 0.00 A-4 126,799,000.00 2.58000% 117,787,455.86 253,243.03 0.00 0.00 0.00 0.00 X-A 0.00 0.68908% 617,437,028.89 354,553.24 0.00 0.00 0.00 0.00 X-B 0.00 0.22805% 20,891,000.00 3,970.22 0.00 0.00 0.00 0.00 B-1 14,042,000.00 3.09813% 14,042,000.00 36,253.28 0.00 0.00 0.00 0.00 B-2 6,849,000.00 3.44813% 6,849,000.00 19,680.20 0.00 0.00 0.00 0.00 B-3 3,767,000.00 3.43742% 3,767,000.00 10,790.62 0.00 0.00 0.00 0.00 B-4 3,081,000.00 3.43742% 3,081,000.00 8,825.57 0.00 0.00 0.00 0.00 B-5 1,711,000.00 3.43742% 1,711,000.00 4,901.18 0.00 0.00 0.00 0.00 B-6 3,097,055.38 3.43742% 3,097,055.38 8,871.56 0.00 0.00 0.00 0.00 A-R 100.00 3.18870% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Totals 685,012,155.38 1,862,762.55 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ----
Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ----- ------------ --------- ------- A-1A 256,917.46 0.00 103,849,791.40 A-1B 29,141.97 0.00 11,541,488.18 A-2 476,793.40 0.00 192,066,412.84 A-3A 358,102.70 0.00 164,008,153.03 A-3B 40,718.12 0.00 18,223,128.11 A-4 253,243.03 0.00 115,533,721.09 X-A 354,553.24 0.00 605,222,694.65 X-B 3,909.07 0.00 20,891,000.00 B-1 36,253.28 0.00 14,042,000.00 B-2 19,680.20 0.00 6,849,000.00 B-3 10,790.62 0.00 3,767,000.00 B-4 8,825.57 0.00 3,081,000.00 B-5 4,901.18 0.00 1,711,000.00 B-6 8,871.56 0.00 3,097,055.38 A-R 0.14 0.00 0.00 ------------ ---- Totals 1,862,701.54 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-1A 110,000,000.00 2.90813% 963.75881164 2.33561327 0.00000000 0.00000000 0.00000000 0.00000000 A-1B 12,225,000.00 2.96813% 963.75881145 2.38380123 0.00000000 0.00000000 0.00000000 0.00000000 A-2 203,441,000.00 2.91813% 963.75881160 2.34364459 0.00000000 0.00000000 0.00000000 0.00000000 A-3A 180,000,000.00 2.57000% 928.93047944 1.98945944 0.00000000 0.00000000 0.00000000 0.00000000 A-3B 20,000,000.00 2.63000% 928.93047950 2.03590600 0.00000000 0.00000000 0.00000000 0.00000000 A-4 126,799,000.00 2.58000% 928.93047942 1.99720053 0.00000000 0.00000000 0.00000000 0.00000000 X-A 0.00 0.68908% 946.31440597 0.54340576 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.22805% 1000.00000000 0.19004452 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,042,000.00 3.09813% 1000.00000000 2.58177468 0.00000000 0.00000000 0.00000000 0.00000000 B-2 6,849,000.00 3.44813% 1000.00000000 2.87344138 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,767,000.00 3.43742% 1000.00000000 2.86451287 0.00000000 0.00000000 0.00000000 0.00000000 B-4 3,081,000.00 3.43742% 1000.00000000 2.86451477 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,711,000.00 3.43742% 1000.00000000 2.86451198 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,097,055.38 3.43742% 1000.00000000 2.86451449 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.18870% 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-1A 2.33561327 0.00000000 944.08901273 A-1B 2.38380123 0.00000000 944.08901268 A-2 2.34364459 0.00000000 944.08901274 A-3A 1.98945944 0.00000000 911.15640572 A-3B 2.03590600 0.00000000 911.15640550 A-4 1.99720053 0.00000000 911.15640573 X-A 0.54340576 0.00000000 927.59411562 X-B 0.18711742 0.00000000 1000.00000000 B-1 2.58177468 0.00000000 1000.00000000 B-2 2.87344138 0.00000000 1000.00000000 B-3 2.86451287 0.00000000 1000.00000000 B-4 2.86451477 0.00000000 1000.00000000 B-5 2.86451198 0.00000000 1000.00000000 B-6 2.86451449 0.00000000 1000.00000000 A-R 1.40000000 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 8MN Beginning Balance 0.00 Deposits Payments of Interest and Principal 14,229,686.93 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 56,613.62 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 14,286,300.55 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 209,264.78 Payment of Interest and Principal 14,077,035.77 ------------- Total Withdrawals (Pool Distribution Amount) 14,286,300.55 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 203,848.24 Master Servicing Fee 5,416.54 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 209,264.78 ==========
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - --------------------------------- -------------- ----------- -------- ------- Class X-A Pool 1 Comp. Sub Amount 4,500.00 0.00 0.00 4,500.00 Class X-A Pool 2 Comp. Sub Amount 4,500.00 0.00 0.00 4,500.00 Class X-B Sub Account 1,000.00 61.15 61.15 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 50 17,653,895.51 60 Days 2 639,450.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------- 52 18,293,345.51 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.702703% 2.768057% 60 Days 0.108108% 0.100263% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 2.810811% 2.868320%
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 50 17,653,895.51 60 Days 2 639,450.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------- 52 18,293,345.51 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.702703% 2.768057% 60 Days 0.108108% 0.100263% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------- 2.810811% 2.868320%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Original $ Original% Current $ Current % Current Class % Prepayment % ---------- --------- --------- --------- --------------- ------------ Class A 32,547,055.38 4.75131063% 32,547,055.38 5.10326107% 94.896739% 0.000000% Class B-1 18,505,055.38 2.70142000% 18,505,055.38 2.90152604% 2.201735% 43.143688% Class B-2 11,656,055.38 1.70158373% 11,656,055.38 1.82762751% 1.073899% 21.043378% Class B-3 7,889,055.38 1.15166648% 7,889,055.38 1.23697547% 0.590652% 11.574012% Class B-4 4,808,055.38 0.70189344% 4,808,055.38 0.75388577% 0.483090% 9.466294% Class B-5 3,097,055.38 0.45211685% 3,097,055.38 0.48560713% 0.268279% 5.257004% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.485607% 9.515624%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP GROUP ONE DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 29 10,171,175.57 60 Days 2 639,450.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------- 31 10,810,625.57 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 3.314286% 3.142169% 60 Days 0.228571% 0.197545% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------- 3.542857% 3.339713%
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 29 10,171,175.57 60 Days 2 639,450.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------- 31 10,810,625.57 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 3.314286% 3.142169% 60 Days 0.228571% 0.197545% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------- 3.542857% 3.339713%
GROUP TWO DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 21 7,482,719.94 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 -------- ------------ 21 7,482,719.94 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.153846% 2.382478% 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% -------- -------- 2.153846% 2.382478%
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 21 7,482,719.94 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 -------- ------------ 21 7,482,719.94 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.153846% 2.382478% 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% -------- -------- 2.153846% 2.382478%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.825263% Weighted Average Net Coupon 3.448918% Weighted Average Pass-Through Rate 3.438918% Weighted Average Maturity (Stepdown Calculation) 336 Beginning Scheduled Collateral Loan Count 1,876 Number of Loans Paid in Full 26 Ending Scheduled Collateral Loan Count 1,850 Beginning Scheduled Collateral Balance 649,984,084.27 Ending Scheduled Collateral Balance 637,769,750.03 Ending Actual Collateral Balance at 28-Feb-2005 637,772,168.41 Monthly P&I Constant 2,071,966.53 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 13,983,743.01 Scheduled Principal 0.00 Unscheduled Principal 12,214,334.24
MISCELLANEOUS REPORTING Rapid Prepay Event NO
GROUP GROUP ONE GROUP TWO TOTAL Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 3.907903 3.739981 3.825263 Weighted Average Net Rate 3.532157 3.363019 3.448918 Pass-Through Rate 3.522157 3.353019 3.438918 Weighted Average Maturity 332 339 336 Record Date 02/28/2005 02/28/2005 02/28/2005 Principal and Interest Constant 1,075,012.34 996,954.19 2,071,966.53 Beginning Loan Count 886 990 1,876 Loans Paid in Full 11 15 26 Ending Loan Count 875 975 1,850 Beginning Scheduled Balance 330,104,123.58 319,879,960.69 649,984,084.27 Ending Scheduled Balance 323,698,338.86 314,071,411.17 637,769,750.03 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 6,405,784.72 5,808,549.52 12,214,334.24 Scheduled Interest 1,075,012.34 996,954.19 2,071,966.53 Servicing Fee 103,362.79 100,485.45 203,848.24 Master Servicing Fee 2,750.87 2,665.67 5,416.54 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 0.00 0.00 0.00 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 968,898.68 893,803.07 1,862,701.75 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 One Month Libor Loan Balance 229,544,831.55 Six Month Libor Loan Balance 94,153,507.31 Principal Transfer 0.00 Interest Transfer 0.00 Pro Rata Senior Percent 95.080144% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Group Two Principal Transfer 0.00 Interest Transfer 0.00 Pro Rata Senior Percent 94.902335% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000%