Wells Fargo Bank Minnesota, N.A. SHT Series 2004-1 Certificateholder Distribution Statement (October–November 2004)

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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 calculation and distribution of principal and interest payments to certificateholders for the period ending November 22, 2004. The statement details the amounts distributed, outstanding balances, realized losses, servicing fees, and loan status information. All calculations are made in accordance with the Pooling and Servicing Agreement governing the trust.

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EX-10.1 2 f03804exv10w1.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: OCTOBER 29, 2004 DISTRIBUTION DATE: NOVEMBER 22, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Class Class CUSIP Description Certificate Pass-Through Rate Beginning Certificate Balance Interest Distribution - ----- --------- ----------------- ----------------------------- ----------------------------- --------------------- NOTE 817419AA2 SEN 2.14000% 299,632,153.69 587,778.40 L SHT04002L DRAW 2.41000% 0.00 0.00 O SHT04002O OC 0.00000% 1,928,388.47 0.00 AMBAC FEE 0.12000% 0.00 29,963.22 Totals 301,560,542.16 617,741.62
Principal Distribution Current Realized Loss Ending Certificate Balance Total Distribution Cumulative Realized Loss - ---------------------- --------------------- -------------------------- ------------------ ------------------------ 6,175,617.61 0.00 293,456,536.08 6,763,396.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,288,489.09 0.00 0.00 0.00 0.00 0.00 29,963.22 0.00 6,175,617.61 0.00 295,745,025.17 6,793,359.23 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
Scheduled Principal Unscheduled Principal Realized Class Original Face Amount Beginning Certificate Balance Distribution Distribution Accretion Loss (1) - ----- -------------------- ----------------------------- ------------------- --------------------- --------- -------- NOTE 317,044,000.00 299,632,153.69 0.00 3,963,051.02 0.00 0.00 L 0.00 0.00 0.00 0.00 0.00 0.00 O 81.98 1,928,388.47 0.00 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 0.00 Totals 317,044,081.98 301,560,542.16 0.00 3,963,051.02 0.00 0.00
Total Principal Reduction Ending Certificate Balance Ending Certificate Percentage Total Principal Distribution - ------------------------- -------------------------- ----------------------------- ---------------------------- 6,175,617.61 293,456,536.08 0.92560192 6,175,617.61 0.00 0.00 0.00000000 0.00 0.00 2,288,489.09 27,915.21212491 0.00 0.00 0.00 0.00000000 0.00 6,175,617.61 295,745,025.17 0 ###-###-#### 6,175,617.61
(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 Principal Unscheduled Principal Realized Class Original Face Amount Beginning Certificate Balance Distribution Distribution Accretion Loss (3) - ----- -------------------- ----------------------------- ------------------- --------------------- ---------- ---------- NOTE 317,044,000.00 945.08066290 0.00000000 12.50000322 0.00000000 0.00000000 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O ###-###-####.79751160 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Total Principal Total Principal Reduction Ending Certificate Balance Ending Certificate Percentage Distribution - ------------------------- -------------------------- ----------------------------- --------------- 19.47873989 925.60192301 0.92560192 19.47873989 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 27915212.12490850 27915.21212491 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 Certificate/ Class Original Face Amount Current Certificate Rate Notional Balance Current Accrued Interest ----- -------------------- ------------------------ ---------------------- ------------------------ NOTE 317,044,000.00 2.14000% 299,632,153.69 587,778.41 L 0.00 2.41000% 0.00 0.00 O 81.98 0.00000% 1,928,388.47 0.00 AMBAC 0.00 0.12000% 299,632,153.69 29,963.22 Totals 317,044,081.98 617,741.63
Payment of Unpaid Interest Non-Supported Interest Realized Shortfall Current Interest Shortfall Shortfall Loss (4) - -------------------------- -------------------------- ---------------------- -------- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Remaining Unpaid Interest Ending Certificate/ Total Interest Distribution Shortfall Notational Balance - --------------------------- ------------------------- ------------------- 587,778.40 0.00 293,456,536.08 0.00 0.00 0.00 0.00 0.00 2,288,489.09 29,963.22 0.00 293,456,536.08 617,741.62 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 Certificate/ Class (5) Original Face Amount Current Certificate Rate Notional Balance - --------- -------------------- ------------------------ ---------------------- NOTE 317,044,000.00 2.14000% 945.08066290 L 0.00 2.41000% 0.00000000 O 81.98 0.00000% 23522669.79751160 AMBAC 0.00 0.12000% 945.08066290
Current Accrued Payment of Unpaid Non-Supported Interest Realized Interest Interest Shortfall Current Interest Shortfall Shortfall Loss (6) - --------------- ------------------ -------------------------- ---------------------- ---------- 1.85393324 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.09450808 0.00000000 0.00000000 0.00000000 0.00000000
Remaining Unpaid Ending Certificate/ Total Interest Distribution Interest Shortfall Notational Balance - --------------------------- ------------------ ------------------- 1.85393321 0.00000000 925.60192301 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 27915212.12490850 0.09450808 0.00000000 925.60192301
(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 6,912,113.26 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 6,912,113.26 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 118,754.03 Payment of Interest and Principal 6,793,359.23 ------------ Total Withdrawals (Pool Distribution Amount) 6,912,113.26 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 114,984.52 Master Servicing Fee 3,769.51 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 118,754.03 ==========
OTHER ACCOUNTS
Account Type Beginning Balance Current Withdrawals Current Deposits Ending 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 3 215,151.63 0-29 Days 1 48,000.00 30 Days 1 28,897.57 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 14,739.98 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 48,000.00 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 ---------------- ----------------- ---------------- 3 91,637.55 3 215,151.63 1 48,000.00
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 0.061300% 0.072749% 0-29 Days 0.020433% 0.016230% 30 Days 0.020433% 0.009771% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.020433% 0.004984% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.020433% 0.016230% 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% -------------------- --------------------- -------------------- 0.061300% 0.030985% 0.061300% 0.072749% 0.020433% 0.016230%
REO TOTAL - ------------------------------- -------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 4 263,151.63 30 Days 0 0.00 30 Days 1 28,897.57 60 Days 0 0.00 60 Days 1 14,739.98 90 Days 0 0.00 90 Days 1 48,000.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --------------- ------------------ 0 0.00 7 354,789.18
No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.081733% 0.088979% 30 Days 0.000000% 0.000000% 30 Days 0.020433% 0.009771% 60 Days 0.000000% 0.000000% 60 Days 0.020433% 0.004984% 90 Days 0.000000% 0.000000% 90 Days 0.020433% 0.016230% 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% 0.143032% 0.119965%
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% 2,288,489.09 0.77983920% 0.000000% 0.000000% Class O 0.00 0.00000000% 0.00 0.00000000% 0.779839% 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 4.363686% Weighted Average Net Coupon 3.906128% Weighted Average Pass-Through Rate 3.891128% Weighted Average Maturity (Stepdown Calculation) 121 Beginning Scheduled Collateral Loan Count 5,031 Number of Loans Paid in Full 137 Ending Scheduled Collateral Loan Count 4,894 Beginning Scheduled Collateral Balance 299,632,153.69 Ending Scheduled Collateral Balance 293,456,536.08 Ending Actual Collateral Balance at 30-Sept-2004 295,745,025.17 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 10,364,927.96 Cumulative Loss Percent 0.00000% Managed Amortization Period YES Overcollateralization Amount 2,288,489.09 Six Month Rolling Delinquency 122113.326667% Specified Overcollateralization Amount 3,963,051.02 3 Largest Loan Balance 4,906,972.25 Draw Amount 10,364,927.96 Rapid Amortization Event NO Excess Cashflow 360,100.61