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

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. for certificateholders of the SHT Series 2004-1 as of April 29, 2005, with distributions made on May 20, 2005. It details the allocation of principal and interest payments, servicing fees, realized losses, and account balances for various classes of certificates. The statement summarizes the financial activity and status of the trust, including loan delinquencies and servicing fee calculations, in accordance with the Pooling and Servicing Agreement.

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EX-10.1 2 f09857aexv10w1.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: APRIL 29, 2005 DISTRIBUTION DATE: MAY 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution - ----- --------- ----------- ------------ -------------- ------------- ------------- NOTE 817419AA2 SEN 3.22000% 257,491,078.08 690,934.39 10,386,597.82 L SHT04002L DRAW 0.00000% 0.00 0.00 0.00 O SHT04002O OC 0.00000% 3,963,051.02 408,424.96 0.00 AMBAC FEE 0.12000% 0.00 25,749.11 0.00 -------------- ------------ ------------- Totals 261,454,129.10 1,125,108.46 10,386,597.82 -------------- ------------ -------------
Current Ending Realized Certificate Total Cumulative Class Loss Balance Distribution Realized Loss - ----- -------- -------------- ------------- ------------- NOTE 0.00 247,104,480.26 11,077,532.21 0.00 L 0.00 0.00 0.00 0.00 O 0.00 3,963,051.02 408,424.96 0.00 AMBAC 0.00 0.00 25,749.11 0.00 ---- -------------- ------------- ---- Totals 0.00 251,067,531.28 11,511,706.28 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 Class Amount Balance Distribution Distribution Accretion Loss (1) - ------ -------------- -------------- ------------ ------------- --------- -------- NOTE 317,044,000.00 257,491,078.08 0.00 10,386,597.82 0.00 0.00 L 0.00 0.00 0.00 0.00 0.00 0.00 O 81.98 3,963,051.02 0.00 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Totals 317,044,081.98 261,454,129.10 0.00 10,386,597.82 0.00 0.00 -------------- -------------- ---- ------------- ---- ----
Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ------ -------------- -------------- --------------- --------------- NOTE 10,386,597.82 247,104,480.26 0.77940122 10,386,597.82 L 0.00 0.00 0.00000000 0.00 O 0.00 3,963,051.02 48,341.68114174 0.00 AMBAC 0.00 0.00 0.00000000 0.00 ------------- -------------- --------------- ------------- Totals 10,386,597.82 251,067,531.28 0.79190102 10,386,597.82 ------------- -------------- --------------- -------------
(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 Realized Class Amount Certificate Balance Distribution Distribution Accretion Loss (3) - ----- -------------- ------------------- ------------ ------------- ---------- -------- NOTE 317,044,000.00 812.16196515 0.00000000 32.76074557 0.00000000 0.00000000 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O ###-###-####.14174190 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Total Ending Total Principal Ending Certificate Certificate Principal Class Reduction Balance Percentage Distribution - ----- ----------- ------------------ -------------- ------------ NOTE 32.76074557 779.40121958 0.77940122 32.76074557 L 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 48341681.14174190 48341.68114174 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 Current Certificate/ Current Unpaid Current Non-Supported Original Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------ -------------- ----------- -------------- ---------- ---------- --------- ------------- -------- NOTE 317,044,000.00 3.22000% 257,491,078.08 690,934.39 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% 3,963,051.02 0.00 0.00 0.00 0.00 0.00 AMBAC 0.00 0.12000% 257,491,078.08 25,749.11 0.00 0.00 0.00 0.00 -------------- ---------- ---- ---- ---- ---- Totals 317,044,081.98 716,683.50 0.00 0.00 0.00 0.00 -------------- ---------- ---- ---- ---- ----
Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ----- -------------- --------- -------------- NOTE 690,934.39 0.00 247,104,480.26 L 0.00 0.00 0.00 O 408,424.96 0.00 3,963,051.02 AMBAC 25,749.11 0.00 247,104,480.26 ------------ ---- Totals 1,125,108.46 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 Non-Supported Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - --------- -------------- ----------- ---------------- ---------- ---------- ---------- ------------- ---------- NOTE 317,044,000.00 3.22000% 812.16196515 2.17930126 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% 48341681.14174190 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.12000% 812.16196515 0.08121620 0.00000000 0.00000000 0.00000000 0.00000000
Remaining Unpaid Total Interest Interest Ending Certificate/ Class (5) Distribution Shortfall Notational Balance - --------- ---------------- ---------- ------------------- NOTE 2.17930126 0.00000000 779.40121958 L 0.00000000 0.00000000 0.00000000 O ###-###-####.31885826 0.00000000 48341681.14174190 AMBAC 0.08121620 0.00000000 779.40121958
(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 11,622,150.51 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 11,622,150.51 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 110,444.23 Payment of Interest and Principal 11,511,706.28 ------------- Total Withdrawals (Pool Distribution Amount) 11,622,150.51 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 107,176.05 Master Servicing Fee 3,268.18 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 110,444.23 ==========
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 Loans Principal Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 1 58,657.55 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- --------- 1 58,657.55
No. of Loans Principal Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.024504% 0.023363% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.024504% 0.023363%
BANKRUPTCY
No. of Loans Principal Balance 0-29 Days 4 218,908.81 30 Days 1 33,610.66 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 -- ---------- 5 252,519.47
No. of Loans Principal Balance 0-29 Days 0.098015% 0.087191% 30 Days 0.024504% 0.013387% 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% -------- -------- 0.122519% 0.100578%
FORECLOSURE
No. of Loans Principal 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 Loans Principal 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 Loans Principal 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 Loans Principal 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 Balance Loans 0-29 Days 4 218,908.81 30 Days 1 33,610.66 60 Days 1 58,657.55 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---------- 6 311,177.02
No. of Principal Balance Loans 0-29 Days 0.098015% 0.087191% 30 Days 0.024504% 0.013387% 60 Days 0.024504% 0.023363% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.147023% 0.123942%
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% 3,963,051.02 1.60379570% 0.000000% 0.000000% Class O 0.00 0.00000000% 0.00 0.00000000% 1.603796% 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 5.670835% Weighted Average Net Coupon 5.178927% Weighted Average Pass-Through Rate 5.163927% Weighted Average Maturity (Stepdown Calculation) 115 Beginning Scheduled Collateral Loan Count 4,252 Number of Loans Paid in Full 171 Ending Scheduled Collateral Loan Count 4,081 Beginning Scheduled Collateral Balance 257,491,078.08 Ending Scheduled Collateral Balance 247,104,480.26 Ending Actual Collateral Balance at 29-Apr-2005 251,067,531.28 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 8,252,502.89 Cumulative Loss Percent 0.00000% Managed Amortization Period YES Overcollateralization Amount 3,963,051.02 Six Month Rolling Delinquency 0 ###-###-####% Specified Overcollateralization Amount 3,963,051.02 3 Largest Loan Balance 5,115,754.43 Draw Amount 8,252,502.89 Rapid Amortization Event NO Excess Cashflow 408,424.96