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

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Summary

This document is a distribution summary for certificateholders of the SHT Series 2004-1, administered by Wells Fargo Bank Minnesota, N.A. It details the principal and interest distributions, balances, and realized losses for various classes of certificates as of November 30, 2004, with distributions made on December 20, 2004. The report outlines the amounts paid to each class, the remaining balances, and confirms that all calculations were made in accordance with the Pooling and Servicing Agreement.

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EX-10.1 2 f04406exv10w1.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: NOVEMBER 30, 2004 DISTRIBUTION DATE: DECEMBER 20, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY - ------------- --------------- ------------- ----------------- ------------------ ---------------- Certificate Beginning Class Certificate Pass- Certificate Interest Class CUSIP Description Through Rate Balance Distribution - ------------- --------------- ------------- ----------------- ------------------ ---------------- NOTE 817419AA2 SEN 2.37000% 293,456,536.08 540,938.22 L SHT04002L DRAW 0.00000% 0.00 0.00 O SHT04002O OC 0.00000% 2,288,489.09 0.00 AMBAC FEE 0.12000% 0.00 29,345.65 - ------------- --------------- ------------- ----------------- ------------------ ---------------- Totals 295,745,025.17 570,283.87 - ------------- --------------- ------------- ----------------- ------------------ ----------------
CERTIFICATEHOLDER DISTRIBUTION SUMMARY - ------------- --------------- --------------- ------------------ ----------------- ---------------- Principal Current Ending Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ------------- --------------- --------------- ------------------ ----------------- ---------------- NOTE 7,327,303.35 0.00 286,129,232.73 7,868,241.57 0.00 L 0.00 0.00 0.00 0.00 0.00 O 0.00 0.00 2,824,941.18 0.00 0.00 AMBAC 0.00 0.00 0.00 29,345.65 0.00 - ------------- --------------- --------------- ------------------ ----------------- ---------------- Totals 7,327,303.35 0.00 288,954,173.91 7,897,587.22 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 Class Amount Balance Distribution Distribution Accretion - ------------- ---------------- ------------------ -------------- ----------------- ----------- NOTE 317,044,000.00 293,456,536.08 0.00 7,327,303.35 0.00 L 0.00 0.00 0.00 0.00 0.00 O 81.98 2,288,489.09 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 ---------------- ------------------ -------------- ----------------- ----------- Totals 317,044,081.98 295,745,025.17 0.00 7,327,303.35 0.00 - ------------- ---------------- ------------------ -------------- ----------------- -----------
PRINCIPAL DISTRIBUTION STATEMENT - ------------- ------------ ---------------- ------------------- ------------------- ------------------ Realized Total Principal Ending Certificate Ending Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ------------- ------------ ---------------- ------------------- ------------------- ------------------ NOTE 0.00 7,327,303.35 286,129,232.73 0.90249061 7,327,303.35 L 0.00 0.00 0.00 0.00000000 0.00 O 0.00 0.00 2,824,941.18 34,458.90680654 0.00 AMBAC 0.00 0.00 0.00 0.00000000 0.00 ------------ ---------------- ------------------- ------------------- ------------------ Totals 0.00 7,327,303.35 288,954,173.91 0.91140062 7,327,303.35 - ------------- ------------ ---------------- ------------------- ------------------- ------------------
(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 Original Face Beginning Principal Principal Class Amount Certificate Balance Distribution Distribution Accretion - ------------- ---------------- -------------------- ------------- --------------- -------------- NOTE 317,044,000.00 925.60192301 0.00000000 23.11131373 0.00000000 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 O ###-###-####.12490850 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.00000000 0.00000000 0.00000000 0.00000000 - ------------- ---------------- -------------------- ------------- --------------- --------------
PRINCIPAL DISTRIBUTION FACTORS STATEMENT - ------------- ---------------- -------------- --------------------- ------------------ ------------- Total Ending Total Realized Principal Ending Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution - ------------- ---------------- -------------- --------------------- ------------------ ------------- NOTE 0.00000000 23.11131373 902.49060928 0.90249061 23.11131373 L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 34458906.80653820 34458.90680654 0.00000000 AMBAC 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 Certificate/ Current Unpaid Current Original Face Current Notional Accrued Interest Interest Class Amount Certificate Rate Balance Interest Shortfall Shortfall - ------------- ---------------- ---------------- ---------------- -------------- ------------- ------------- NOTE 317,044,000.00 2.37000% 293,456,536.08 540,938.21 0.00 0.00 L 0.00 0.00000% 0.00 0.00 0.00 0.00 O 81.98 0.00000% 2,288,489.09 0.00 0.00 0.00 AMBAC 0.00 0.12000% 293,456,536.08 29,345.65 0.00 0.00 - ------------- ---------------- ---------------- ---------------- -------------- ------------- ------------- Totals 317,044,081.98 570,283.86 0.00 0.00 - ------------- ---------------- ---------------- ---------------- -------------- ------------- -------------
INTEREST DISTRIBUTION STATEMENT - ------------- ------------ ------------ ---------------- ------------- ------------------ Non- Remaining Ending Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - ------------- ------------ ------------ ---------------- ------------- ------------------ NOTE 0.00 0.00 540,938.22 0.00 286,129,232.73 L 0.00 0.00 0.00 0.00 0.00 O 0.00 0.00 0.00 0.00 2,824,941.18 AMBAC 0.00 0.00 29,345.65 0.00 286,129,232.73 - ------------- ------------ ------------ ---------------- ------------- ------------------ Totals 0.00 0.00 570,283.87 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 Beginning Current Unpaid Current Class (5) Original Face Certificate Certificate/ Accrued Interest Interest Amount Rate Notional Balance Interest Shortfall Shortfall - -------------- ---------------- ------------- -------------------- ------------ ------------ -------------- NOTE 317,044,000.00 2.37000% 925.60192301 1.70619286 0.00000000 0.00000000 L 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 O 81.98 0.00000% 27915212.12490850 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.12000% 925.60192301 0.09256018 0.00000000 0.00000000 - -------------- ---------------- ------------- -------------------- ------------ ------------- -------------
INTEREST DISTRIBUTION FACTORS STATEMENT - -------------- ------------ -------------- --------------- ------------ -------------------- Non- Remaining Supported Unpaid Class (5) Interest Realized Total Interest Interest Ending Certificate/ Shortfall Loss (6) Distribution Shortfall Notational Balance - -------------- ------------ -------------- --------------- ------------ -------------------- NOTE 0.00000000 0.00000000 1.70619289 0.00000000 902.49060928 L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 0.00000000 0.00000000 34458906.80653820 AMBAC 0.00000000 0.00000000 0.09256018 0.00000000 902.49060928 - -------------- ------------- ------------- --------------- ------------ --------------------
(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 8,026,754.68 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 8,026,754.68 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 129,167.46 Payment of Interest and Principal 7,897,587.22 -------------------- Total Withdrawals (Pool Distribution Amount) 8,026,754.68 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 125,470.65 Master Servicing Fee 3,696.81 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------------ Net Servicing Fee 129,167.46 ==================
- -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------- 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 2 163,162.86 0-29 Days 2 62,739.98 30 Days 3 104,034.96 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 90 Days 1 14,739.98 90 Days 0 0.00 90 Days 0 0.00 120 Days 1 48,000.00 120 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 ------------ ------------- ----------- ----------- ----------- ----------- 5 166,774.94 2 163,162.86 2 62,739.98 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 0.042026% 0.056467% 0-29 Days 0.042026% 0.021713% 30 Days 0.063038% 0.036004% 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% 90 Days 0.021013% 0.005101% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.021013% 0.016612% 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% ------------ ------------- ----------- ----------- ----------- ----------- 0.105064% 0.057717% 0.042026% 0.056467% 0.042026% 0.021713% - ------------- ------------ ------------- ---------------------------------- -----------------------------------
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT - ------------------------------------------------ ------------------------------------- REO TOTAL - ------------------------------------------------ ------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 4 225,902.84 30 Days 0 0.00 30 Days 3 104,034.96 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 1 14,739.98 120 Days 0 0.00 120 Days 1 48,000.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 ------------ ----------- ----------- ------------- 0 0.00 9 392,677.78 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.084051% 0.078179% 30 Days 0.000000% 0.000000% 30 Days 0.063038% 0.036004% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.021013% 0.005101% 120 Days 0.000000% 0.000000% 120 Days 0.021013% 0.016612% 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% 0.189115% 0.135896% - ------------------------------------------------ -------------------------------------
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% 2,824,941.18 Class O 0.00 0.00000000% 0.00
- ------------------------------------------------------------------------------------------------------------- Class L 0.98729555% 0.000000% 0.000000% Class O 0.00000000% 0.987296% 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 5.014739% Weighted Average Net Coupon 4.505636% Weighted Average Pass-Through Rate 4.490636% Weighted Average Maturity (Stepdown Calculation) 0 Beginning Scheduled Collateral Loan Count 4,894 Number of Loans Paid in Full 135 Ending Scheduled Collateral Loan Count 4,759 Beginning Scheduled Collateral Balance 293,456,536.08 Ending Scheduled Collateral Balance 286,129,232.73 Ending Actual Collateral Balance at 30-Nov-2004 288,954,173.91 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 9,451,188.82 Cumulative Loss Percent 0.00000% Managed Amortization Period YES Overcollateralization Amount 2,824,941.18 Six Month Rolling Delinquency 0 ###-###-####% Specified Overcollateralization Amount 3,963,051.02 3 Largest Loan Balance 5,113,098.03 Draw Amount 9,451,188.82 Rapid Amortization Event NO Excess Cashflow 536,452.10 - --------------------------------------------------------------------------------