Wells Fargo Bank Minnesota, N.A. SHT Series 2004-1 Certificateholder Distribution Statement (January 2005)

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SHT Series 2004-1. It summarizes the interest and principal payments, account activity, servicing fees, and loan status for certificateholders as of January 31, 2005, with distributions made on February 22, 2005. The statement details the amounts distributed to each class of certificateholders, realized losses, servicing fees, and the status of underlying loans, including delinquencies. All calculations are made in accordance with the Pooling and Servicing Agreement.

Read More Arrow
EX-10.1 2 f06800aexv10w1.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: JANUARY 31, 2005 DISTRIBUTION DATE: FEBRUARY 22, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Current Class CUSIP Description Through Rate Balance Distribution Distribution Realized Loss ----- ----- ----------- ------------ ------- ------------ ------------ ------------- NOTE 817419AA2 SEN 2.73000% 281,059,479.17 703,351.35 6,716,823.40 0.00 L SHT04002L DRAW 0.00000% 0.00 0.00 0.00 0.00 O SHT04002O OC 0.00000% 3,193,199.21 0.00 0.00 0.00 AMBAC FEE 0.12000% 0.00 28,105.95 0.00 0.00 -------------- ---------- ------------ ---- Totals 284,252,678.38 731,457.30 6,716,823.40 0.00 -------------- ---------- ------------ ---- Ending Certificate Total Cumulative Class CUSIP Balance Distribution Realized Loss ----- ----- ------- ------------ ------------- NOTE 817419AA2 274,342,655.77 7,420,174.75 0.00 L SHT04002L 0.00 0.00 0.00 O SHT04002O 3,550,065.96 0.00 0.00 AMBAC 0.00 28,105.95 0.00 -------------- ------------ ---- Totals 277,892,721.73 7,448,280.70 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 ----- ------ ------- ------------ ------------ --------- -------- --------- NOTE 317,044,000.00 281,059,479.17 0.00 6,716,823.40 0.00 0.00 6,716,823.40 L 0.00 0.00 0.00 0.00 0.00 0.00 0.00 O 81.98 3,193,199.21 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 317,044,081.98 284,252,678.38 0.00 6,716,823.40 0.00 0.00 6,716,823.40 -------------- -------------- ---- ------------ ---- ---- ------------ Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution ----- ------- ---------- ------------ NOTE 274,342,655.77 0.86531414 6,716,823.40 L 0.00 0.00000000 0.00 O 3,550,065.96 43,304.04928031 0.00 AMBAC 0.00 0.00000000 0.00 -------------- --------------- ------------ Totals 277,892,721.73 0.87651130 6,716,823.40 -------------- --------------- ------------
(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
Scheduled Unscheduled Total Original Face Beginning Principal Principal Realized Principal Class Amount Certificate Balance Distribution Distribution Accretion Loss (3) Reduction ----- ------ ------------------- ------------ ------------ --------- -------- --------- NOTE 317,044,000.00 886.49991537 0.00000000 21.18577674 0.00000000 0.00000000 21.18577674 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O ###-###-####.01317390 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 865.31413864 0.86531414 21.18577674 L 0.00000000 0.00000000 0.00000000 O 43304049.28031230 43304.04928031 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- Certificate/ Current Unpaid Current Supported Original Face Current Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) ----- ------ ---- ------- -------- --------- --------- --------- -------- NOTE 317,044,000.00 2.73000% 281,059,479.17 703,351.35 0.00 0.00 0.00 0.00 L 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 O 81.98 0.00000% 3,193,199.21 0.00 0.00 0.00 0.00 0.00 AMBAC 0.00 0.12000% 281,059,479.17 28,105.95 0.00 0.00 0.00 0.00 -------------- ---------- ---- ---- ---- ---- Totals 317,044,081.98 731,457.30 0.00 0.00 0.00 0.00 -------------- ---------- ---- ---- ---- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance ----- ------------ -------- ------- NOTE 703,351.35 0.00 274,342,655.77 L 0.00 0.00 0.00 O 0.00 0.00 3,550,065.96 AMBAC 28,105.95 0.00 274,342,655.77 ---------- ---- Totals 731,457.30 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 Current Unpaid Current Supported Original Face Certificate Beginning Certificate/ Accrued Interest Interest Interest Realized Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --------- ------ ---- ---------------- -------- --------- --------- --------- -------- NOTE 317,044,000.00 2.73000% 886.49991537 2.21846605 0.00000000 0.00000000 0.00000000 0.00000000 L 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 81.98 0.00000% 38950954.01317390 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.12000% 886.49991537 0.08865000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Total Interest Interest Ending Certificate/ Class (5) Distribution Shortfall Notational Balance --------- ------------ --------- ------------------ NOTE 2.21846605 0.00000000 865.31413864 L 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 43304049.28031230 AMBAC 0.08865000 0.00000000 865.31413864
(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 7,566,325.72 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 7,566,325.72 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 118,045.03 Payment of Interest and Principal 7,448,280.69 ------------ Total Withdrawals (Pool Distribution Amount) 7,566,325.72 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 114,491.87 Master Servicing Fee 3,553.16 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 118,045.03 ==========
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
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 6 660,695.73 60 Days 1 10,000.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 - ---------- 7 670,695.73 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.132979% 0.237752% 60 Days 0.022163% 0.003599% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.155142% 0.241351%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 2 164,356.58 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 - ---------- 2 164,356.58 No. of Principal Loans Balance 0-29 Days 0.044326% 0.059144% 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% -------- -------- 0.044326% 0.059144%
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 2 164,356.58 30 Days 6 660,695.73 60 Days 1 10,000.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 - ---------- 9 835,052.31 No. of Principal Loans Balance 0-29 Days 0.044326% 0.059144% 30 Days 0.132979% 0.237752% 60 Days 0.022163% 0.003599% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.199468% 0.300494%
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% 3,550,065.96 1.29402624% 0.000000% 0.000000% Class O 0.00 0.00000000% 0.00 0.00000000% 1.294026% 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 5.092803% Weighted Average Net Coupon 4.609465% Weighted Average Pass-Through Rate 4.594465% Weighted Average Maturity (Stepdown Calculation) 118 Beginning Scheduled Collateral Loan Count 4,629 Number of Loans Paid in Full 117 Ending Scheduled Collateral Loan Count 4,512 Beginning Scheduled Collateral Balance 281,059,479.17 Ending Scheduled Collateral Balance 274,342,655.77 Ending Actual Collateral Balance at 31-Jan-2005 277,892,721.73 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 8,400,724.23 Cumulative Loss Percent 0.00000% Managed Amortization Period YES Overcollateralization Amount 3,193,199.21 Six Month Rolling Delinquency 0 ###-###-####% Specified Overcollateralization Amount 3,963,051.02 3 Largest Loan Balance 5,207,744.34 Draw Amount 8,400,724.23 Rapid Amortization Event NO Excess Cashflow 356,866.74