Wells Fargo Bank Minnesota, N.A. SHT Series 2004-1 Monthly Certificateholder Distribution Statement (June 30, 2004 Record Date)

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Summary

This document is a monthly distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SHT Series 2004-1. It summarizes the payments of principal and interest to certificateholders, servicing fees, account activity, and loan status as of the June 30, 2004 record date. The statement details the amounts distributed, outstanding balances, realized losses, and servicing activity, providing transparency to investors regarding the trust's financial performance and compliance with the Pooling and Servicing Agreement.

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EX-10.1 2 f00773exv10w1.txt MONTHLY PAYMENT DATE STATEMENT 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: JUNE 30, 2004 DISTRIBUTION DATE: JULY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Current Ending Cumulative Class Pass-Through Certificate Interest Principal Realized Certificate Total Realized Class CUSIP Description Rate Balance Distribution Distribution Loss Balance Distribution Loss - ------ --------- ----------- ------------ -------------- ------------ ------------ -------- -------------- ------------ ---------- NOTE 817419AA2 SEN 1.56000% 317,044,000.00 288,510.04 630,320.08 0.00 316,413,679.92 918,830.12 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% 81.98 0.00 0.00 0.00 630,402.06 0.00 0.00 AMBAC FEE 0.12000% 0.00 22,193.08 0.00 0.00 0.00 22,193.08 0.00 -------------- ---------- ---------- ---- -------------- ---------- ---- Totals 317,044,081.98 310,703.12 630,320.08 0.00 317,044,081.98 941,023.20 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 317,044,000.00 317,044,000.00 0.00 630,320.08 0.00 L 0.00 0.00 0.00 0.00 0.00 O 81.98 81.98 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ---------- ---- Totals 317,044,081.98 317,044,081.98 0.00 630,320.08 0.00
Total Ending Ending Realized Principal Certificate Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ----- -------- ---------- ----------- -------------- --------------- NOTE 0.00 630,320.08 316,413,679.92 0.99801188 630,320.08 L 0.00 0.00 0.00 0.00000000 0.00 O 0.00 0.00 630,402.06 7,689.70553794 0.00 AMBAC 0.00 0.00 0.00 0.00000000 0.00 ---- ---------- -------------- -------------- ---------- Totals 0.00 630,320.08 317,044,081.98 1.00000000 630,320.08
(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 Class Amount Balance Distribution Distribution Accretion - ----- -------------- ------------- ------------ ------------ ---------- NOTE 317,044,000.00 1000.00000000 0.00000000 1.98811547 0.00000000 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 O 81.98 1000.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.00000000 0.00000000 0.00000000 0.00000000
Total Ending Total Realized Principal Ending Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution - ----- ---------- ---------- ------------------ ------------- ------------ NOTE 0.00000000 1.98811547 998.01188453 0.99801188 1.98811547 L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 ###-###-#### ###-###-####.70553794 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 Current Certificate/ Current Unpaid Current Original Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall - ------ -------------- ----------- -------------- ---------- ---------- --------- NOTE 317,044,000.00 1.56000% 317,044,000.00 288,510.04 0.00 0.00 L 0.00 0.00000% 0.00 0.00 0.00 0.00 O 81.98 0.00000% 81.98 0.00 0.00 0.00 AMBAC 0.00 0.12000% 317,044,000.00 22,193.08 0.00 0.00 -------------- ---------- ---- ---- Totals 317,044,081.98 310,703.12 0.00 0.00
Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - ------ ------------- -------- ------------ --------- -------------- NOTE 0.00 0.00 288,510.04 0.00 316,413,679.92 L 0.00 0.00 0.00 0.00 0.00 O 0.00 0.00 0.00 0.00 630,402.06 AMBAC 0.00 0.00 22,193.08 0.00 316,413,679.92 ---- ---- ---------- ---- Totals 0.00 0.00 310,703.12 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 Current Certificate/ Current Unpaid Current Class Original Face Certificate Notional Accrued Interest Interest (5) Amount Rate Balance Interest Shortfall Shortfall - ----- -------------- ----------- ------------- ---------- ---------- ---------- NOTE 317,044,000.00 1.56000% 1000.00000000 0.91000000 0.00000000 0.00000000 L 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 O 81.98 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.12000% 1000.00000000 0.07000000 0.00000000 0.00000000
Remaining Ending Non-Supported Total Unpaid Certificate/ Class Interest Realized Interest Interest Notational (5) Shortfall Loss (6) Distribution Shortfall Balance - ----- ------------- ---------- ------------ ---------- ---------------- NOTE 0.00000000 0.00000000 0.91000000 0.00000000 998.01188453 L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 0.00000000 0.00000000 0.00000000 ###-###-####.53793608 AMBAC 0.00000000 0.00000000 0.07000000 0.00000000 998.01188453
(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 1,078,996.54 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 1,078,996.54 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 137,973.34 Payment of Interest and Principal 941,023.20 ------------ Total Withdrawals (Pool Distribution Amount) 1,078,996.54 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 134,010.29 Master Servicing Fee 3,963.05 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------- Net Servicing Fee 137,973.34 =============
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 0 0.00 0-29 Days 0 0.00 30 Days 1 216,079.63 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 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 --- ---------- --- --------- --- -------- 1 216,079.63 0 0.00 0 0.00 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 0.000000% 0.000000% 30 Days 0.018471% 0.068154% 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 0.000000% 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% -------- -------- -------- -------- -------- -------- 0.018471% 0.068154% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL - ------------------------------- -------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 1 216,079.63 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 --- -------- --- ---------- 0 0.00 1 216,079.63 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.018471% 0.068154% 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% -------- -------- -------- -------- 0.000000% 0.000000% 0.018471% 0.068154%
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% 630,402.06 0.19883735% 0.000000% 0.000000% Class O 0.00 0.00000000% 0.00 0.00000000% 0.198837% 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 4.083962% Weighted Average Net Coupon 3.576738% Weighted Average Pass-Through Rate 3.561738% Weighted Average Maturity (Stepdown Calculation) 125 Beginning Scheduled Collateral Loan Count 5,414 Number of Loans Paid in Full 0 Ending Scheduled Collateral Loan Count 5,414 Beginning Scheduled Collateral Balance 317,044,081.98 Ending Scheduled Collateral Balance 317,044,081.98 Ending Actual Collateral Balance at 30-June-2004 317,044,081.98 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 7,646,273.37 Cumulative Loss Percent 0.00000% Managed Amortization Period YES Overcollateralization Amount 81.98 Six Month Rolling Delinquency 0.00000% Specified Overcollateralization Amount 3,963,051.02 3 Largest Loan Balance 5,474,951.84 Draw Amount 7,646,273.37 Rapid Amortization Event NO Excess Cashflow 630,320.08