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

Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SHT Series 2004-1 trust. It summarizes the principal and interest payments, balances, and realized losses for certificateholders as of December 31, 2004, with distributions made on January 20, 2005. The statement details the amounts distributed to each class of certificate, including interest, principal, and fees, and confirms compliance with the Pooling and Servicing Agreement. No realized losses or shortfalls are reported for this period.

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EX-10.1 2 f05546exv10w1.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: DECEMBER 31, 2004 DISTRIBUTION DATE: JANUARY 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
- ------ --------- ----------- ---------- --------------- ------------ ------------ -------- -------------- ------------ ---------- Certificate Certificate Pass- Beginning Current Ending Cumulative Class Through Certificate Interest Principal Realized Certificate Total Realized Class CUSIP Description Rate Balance Distribution Distribution Loss Balance Distribution Loss - ------ --------- ----------- ---------- --------------- ------------ ------------ -------- -------------- ------------ ---------- NOTE 817419AA2 SEN 2.64000% 286,129,232.73 650,467.13 5,069,753.56 0.00 281,059,479.17 5,720,220.69 0.00 L SHT04002L DRAW 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 O SHT04002O OC 0.00000% 2,824,941.18 0.00 0.00 0.00 3,193,199.21 0.00 0.00 AMBAC FEE 0.12000% 0.00 28,612.93 0.00 0.00 0.00 28,612.93 0.00 - ------ --------- ----------- ---------- --------------- ------------ ------------ -------- -------------- ------------ ---------- Totals 288,954,173.91 679,080.06 5,069,753.56 0.00 284,252,678.38 5,748,833.62 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
- ------ -------------- -------------- ------------ ------------ --------- --------- Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) - ------ -------------- -------------- ------------ ------------ --------- --------- NOTE 317,044,000.00 286,129,232.73 0.00 5,069,753.56 0.00 0.00 L 0.00 0.00 0.00 0.00 0.00 0.00 O 81.98 2,824,941.18 0.00 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 0.00 - ------ -------------- -------------- ------------ ------------ --------- --------- Totals 317,044,081.98 288,954,173.91 0.00 5,069,753.56 0.00 0.00 - ------ -------------- -------------- ------------ ------------ --------- ---------
- ------ ------------ -------------- --------------- ------------- Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution - ------ ------------ -------------- --------------- ------------- NOTE 5,069,753.56 281,059,479.17 0.88649992 5,069,753.56 L 0.00 0.00 0.00000000 0.00 O 0.00 3,193,199.21 38,950.95401317 0.00 AMBAC 0.00 0.00 0.00000000 0.00 - ------ ------------ -------------- --------------- ------------- Totals 5,069,753.56 284,252,678.38 0.89657147 5,069,753.56 - ------ ------------ -------------- --------------- -------------
(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
- ------ -------------- ---------------- ------------- ------------ ---------- ---------- Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (3) - ------ -------------- ---------------- ------------- ------------ ---------- ---------- NOTE 317,044,000.00 902.49060928 0.00000000 15.99069391 0.00000000 0.00000000 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O ###-###-####.80653820 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - ------ -------------- ---------------- ------------- ------------ ---------- ----------
Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution - ------ ----------- ----------------- -------------- ------------- NOTE 15.99069391 886.49991537 0 ###-###-#### 15.99069391 L 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 38950954.01317390 38950.95401317 0.00000000 AMBAC 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 Original Current Certificate/ Current Unpaid Current Non-Supported Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------ -------------- ----------- -------------- ---------- ---------- --------- ------------- --------- NOTE 317,044,000.00 2.64000% 286,129,232.73 650,467.12 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% 2,824,941.18 0.00 0.00 0.00 0.00 0.00 AMBAC 0.00 0.01200% 286,129,232.73 28,612.92 0.00 0.00 0.00 0.00 - ------ -------------- ----------- -------------- ---------- ---------- --------- ------------- --------- Totals 317,044,081.98 679,080.04 0.00 0.00 0.00 0.00 - ------ -------------- ----------- -------------- ---------- ---------- --------- ------------- ---------
Remaining Ending Total Unpaid Certificate/ Interest Interest Notational Class Distribution Shortfall Balance - ----- ------------ --------- -------------- NOTE 650,467.13 0.00 281,059,479.17 L 0.00 0.00 0.00 O 0.00 0.00 3,193,199.21 AMBAC 28,612.93 0.00 281,059,479.17 - ----- ------------ --------- -------------- Totals 679,080.06 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
- --------- -------------- ----------- ----------------- ---------- ---------- ---------- ---------- ---------- Beginning Payment of Non- Original Current Certificate/ Current Unpaid Current Supported Face Certificate Notional Accrued Interest Interest Interest Realized Class (5) Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (6) - --------- -------------- ----------- ----------------- ---------- ---------- ---------- ---------- ---------- NOTE 317,044,000.00 2.64000% 902.49060928 2.05166198 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% 34458906.80653820 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.12000% 902.49060928 0.09024905 0.00000000 0.00000000 0.00000000 0.00000000 - --------- -------------- ----------- ----------------- ---------- ---------- ---------- ---------- ----------
- --------- ------------ ---------- ----------------- Remaining Ending Total Unpaid Certificate/ Interest Interest Notational Class (5) Distribution Shortfall Balance - --------- ------------ ---------- ----------------- NOTE 2.05166201 0.00000000 886.49991537 L 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 38950954.01317390 AMBAC 0.09024908 0.00000000 886.49991537 - --------- ------------ ---------- -----------------
(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 5,865,353.14 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 5,865,353.14 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 116,519.54 Payment of Interest and Principal 5,748,833.60 ------------ Total Withdrawals (Pool Distribution Amount) 5,865,353.14 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 112,907.61 Master Servicing Fee 3,611.93 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 116,519.54 ==========
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 REO --------------------- ------------------------------- ----------------------------- ------------------------------ No. of Principal No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 2 163,162.86 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 1 239,437.72 30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 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 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 1 14,739.98 120 Days 0 0.00 150 Days 0 0.00 150 Days 1 480,000.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --------- ---------- -------- ---------- -------- --------- --------- ---------- 1 239,437.72 3 211,162.86 1 14,739.98 0 0.00 No. of Principal No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.043206% 0.057401% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.021603% 0.084234% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 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% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.021603% 0.005186% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.021603% 0.016886% 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% 180+ Days 0.000000% 0.000000% --------- ---------- -------- ---------- -------- --------- --------- ---------- 0.021603% 0.084234% 0.064809% 0.074287% 0.021603% 0.005186% 0.000000% 0.000000%
- ------------------------------ TOTAL - ------------------------------ No. of Principal Loans Balance 0-29 Days 2 163,162.86 30 Days 1 239,437.72 60 Days 0 0.00 90 Days 0 0.00 120 Days 1 14,739.98 150 Days 1 48,000.00 180+ Days 0 0.00 -------------------- 5 465,340.56
No. of Principal Loans Balance 0-29 Days 0.043206% 0.057401% 30 Days 0.021603% 0.084234% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.021603% 0.005186% 150 Days 0.021603% 0.016886% 180+ Days 0.000000% 0.000000% -------------------- 0.108015% 0.163707%
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% 3,193,199.21 1,13612934% 0.000000% 0.000000% Class O 0.00 0.00000000% 0.00 0.00000000% 1.136129% 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 4.833339% Weighted Average Net Coupon 4.364498% Weighted Average Pass-Through Rate 4.349498% Weighted Average Maturity (Stepdown Calculation) 119 Beginning Scheduled Collateral Loan Count 4,759 Number of Loans Paid in Full 130 Ending Scheduled Collateral Loan Count 4,629 Beginning Scheduled Collateral Balance 286,129,232.73 Ending Scheduled Collateral Balance 281,059,479.17 Ending Actual Collateral Balance at 31-Dec-2004 284,252,678.38 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 9,580,467.96 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 5,385,830.56 Draw Amount 9,580,467.96 Rapid Amortization Event NO Excess Cashflow 368,258.04 ------------