Certificateholder Distribution Statement for SMT Series 2004-11 Administered by Wells Fargo Bank Minnesota, N.A.

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. for certificateholders of the SMT Series 2004-11 trust. It summarizes the principal and interest distributions made to holders of various classes of certificates as of December 31, 2004, with payments distributed on January 20, 2005. The statement details the beginning and ending balances, interest rates, and amounts distributed for each class of certificate, as well as any realized losses. All calculations are made in accordance with the Pooling and Servicing Agreement governing the trust.

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EX-10.1 2 f05544lexv10w1.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 SMT SERIES 2004-11 RECORD DATE: DECEMBER 31, 2004 DISTRIBUTION DATE: JANUARY 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution - ------ --------- ----------- ------------ -------------- ------------ A-1 81744FFJ1 SEN 2.71000% 429,944,093.84 970,957.08 A-2 81744FFK8 SEN 2.87000% 85,331,019.62 204,083.36 A-3 81744FFL6 SEN 2.71000% 167,006,801.74 377,157.03 X-A1 81744FFM4 IO 0.54327% 0.00 233,286.81 X-A2 81744FFN2 IO 0.79694% 0.00 110,917.20 X-B 81744FFP7 IO 0.28423% 0.00 3,561.90 B-1 81744FFR3 SUB 2.91000% 8,947,000.00 21,696.48 B-2 81744FFS1 SUB 3.26000% 6,084,000.00 16,528.20 B-3 81744FFT9 SUB 3.33590% 4,294,000.00 11,936.95 B-4 81744FFU6 SUB 3.33590% 1,431,000.00 3,978.06 B-5 81744FFV4 SUB 3.33590% 1,431,000.00 3,978.06 B-6 81744FFW2 SUB 3.33590% 2,865,425.69 7,965.64 A-R 81744FFQ5 RES 3.35700% 0.00 0.00 -------------- ------------ Totals 707,334,340.89 1,966,046.77 ============== ============
Principal Current Ending Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ------ ------------ ------------- ------------------ ------------- ------------- A-1 4,006,370.82 0.00 425,937,723.02 4,977,327.90 0.00 A-2 344,202.09 0.00 84,986,817.53 548,285.45 0.00 A-3 1,115,290.74 0.00 165,891,511.00 1,492,447.77 0.00 X-A1 0.00 0.00 0.00 233,286.81 0.00 X-A2 0.00 0.00 0.00 110,917.20 0.00 X-B 0.00 0.00 0.00 3,561.90 0.00 B-1 0.00 0.00 8,947,000.00 21,696.48 0.00 B-2 0.00 0.00 6,084,000.00 16,528.20 0.00 B-3 0.00 0.00 4,294,000.00 11,936.95 0.00 B-4 0.00 0.00 1,431,000.00 3,978.06 0.00 B-5 0.00 0.00 1,431,000.00 3,978.06 0.00 B-6 0.00 0.00 2,865,425.69 7,965.64 0.00 A-R 0.00 0.00 0.00 0.00 0.00 ------------ ---- -------------- ------------ ---- Totals 5,465,863.65 0.00 701,868,477.24 7,431,910.42 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 - ------ -------------- -------------- ------------ ------------ --------- A-1 433,985,000.00 429,944,093.84 0.00 4,006,370.82 0.00 A-2 86,036,000.00 85,331,019.62 0.00 344,202.09 0.00 A-3 170,694,000.00 167,006,801.74 0.00 1,115,290.74 0.00 X-A1 0.00 0.00 0.00 0.00 0.00 X-A2 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 B-1 8,947,000.00 8,947,000.00 0.00 0.00 0.00 B-2 6,084,000.00 6,084,000.00 0.00 0.00 0.00 B-3 4,294,000.00 4,294,000.00 0.00 0.00 0.00 B-4 1,431,000.00 1,431,000.00 0.00 0.00 0.00 B-5 1,431,000.00 1,431,000.00 0.00 0.00 0.00 B-6 2,865,425.69 2,865,425.69 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------ ---- Totals 715,767,525.69 707,334,340.89 0.00 5,465,863.65 0.00 ============== ============== ==== ============ ====
Total Ending Ending Realized Principal Certificate Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ------ -------- ------------ -------------- ----------- --------------- A-1 0.00 4,006,370.82 425,937,723.02 0.98145725 4,006,370.82 A-2 0.00 344,202.09 84,986,817.53 0.98780531 344,202.09 A-3 0.00 1,115,290.74 165,891,511.00 0.97186492 1,115,290.74 X-A1 0.00 0.00 0.00 0.00000000 0.00 X-A2 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 8,947,000.00 1.00000000 0.00 B-2 0.00 0.00 6,084,000.00 1.00000000 0.00 B-3 0.00 0.00 4,294,000.00 1.00000000 0.00 B-4 0.00 0.00 1,431,000.00 1.00000000 0.00 B-5 0.00 0.00 1,431,000.00 1.00000000 0.00 B-6 0.00 0.00 2,865,425.69 1.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 ---- ------------ -------------- ---------- ------------ Totals 0.00 5,465,863.65 701,868,477.24 0.98058162 5,465,863.65 ==== ============ ============== ========== ============
(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 - ----- -------------- ------------- ------------ ------------ ---------- A-1 433,985,000900 990.68883450 0.00000000 9.23158823 0.00000000 A-2 86,036,000.00 991.80598377 0.00000000 4.00067518 0.00000000 A-3 170,694,000.00 978.39878227 0.00000000 6.53386024 0.00000000 X-A1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-A2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,947,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 6,084,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 4,294,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,431,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,431,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 2,865,425.69 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
Ending Ending Realized Total Principal Certificate Certificate Total Principal Class Loss (3) Reduction Balance Percentage Distribution - ----- ---------- --------------- ------------- ----------- --------------- A-1 0.00000000 9.23158823 981.45724626 0.98145725 9.23158823 A-2 0.00000000 4.00067518 987.80530859 0.98780531 4.00067518 A-3 0.00000000 6.53386024 971.86492202 0.97186492 6.53386024 X-A1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-A2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 A-R 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 Original Face Current Notional Accrued Interest Class Amount Certificate Rate Balance Interest Shortfall - ------ -------------- ---------------- -------------- ------------ ---------- A-1 433,985,000.00 2.71000% 429,944,093.84 970,957.08 0.00 A-2 80,036,000.00 2.87000% 85,331,019.62 204,083.36 0.00 A-3 170,694,000.00 2.71000% 167,006,801.74 377,157.03 0.00 X-A1 0.00 0.54327% 515,275,113.46 233,276.69 0.00 X-A2 0.00 0.79694% 167,006,801.74 110,912.14 0.00 X-B 0.00 0.28423% 15,031,000.00 3,560.21 0.00 B-1 8,947,000.00 2.91000% 8,947,000.00 21,696.48 0.00 B-2 6,084,000.00 2.26000% 6,084,000.00 16,528.20 0.00 B-3 4,294,000.00 3.33590% 4,294,000.00 11,936.95 0.00 B-4 1,431,000.00 3.33590% 1,431,000.00 3,978.06 0.00 B-5 1,431,000.00 3.33590% 1,431,000.00 3,978.06 0.00 B-6 2,865,425.69 3.33590% 2,865,425.69 7,965.64 0.00 A-R 100.00 3.35700% 0.00 0.00 0.00 -------------- ------------ ---- Totals 715,767,525.69 1,966,029.90 0.00 ============== ============ ====
Remaining Ending Current Non-Supported Unpaid Certificate/ Interest Interest Realized Total Interest Interest Notational Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance - ------ --------- ------------- -------- -------------- --------- -------------- A-1 0.00 0.00 0.00 970,957.08 0.00 425,937,723.02 A-2 0.00 0.00 0.00 204,083.36 0.00 84,986,817.53 A-3 0.00 0.00 0.00 377,157.03 0.00 165,891,511.00 X-A1 0.00 0.00 0.00 233,286.81 0.00 510,924,540.55 X-A2 0.00 0.00 0.00 110,917.20 0.00 165,891,511.00 X-B 0.00 0.00 0.00 3,561.90 0.00 15,031,000.00 B-1 0.00 0.00 0.00 21,696.48 0.00 8,947,000.00 B-2 0.00 0.00 0.00 16,528.20 0.00 6,084,000.00 B-3 0.00 0.00 0.00 11,936.95 0.00 4,294,000.00 B-4 0.00 0.00 0.00 3,978.06 0.00 1,431,000.00 B-5 0.00 0.00 0.00 3,978.06 0.00 1,431,000.00 B-6 0.00 0.00 0.00 7,965.64 0.00 2,865,425.69 A-R 0.00 0.00 0.00 0.00 0.00 0.00 ---- ---- ---- ------------ ---- Totals 0.00 0.00 0.00 1,966,046.77 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 Unpaid Original Face Certificate Certificate/ Current Accrued Interest Class (5) Amount Rate Notional Balance Interest Shortfall - --------- -------------- ----------- ---------------- --------------- ---------- A-1 433,985,000.00 2.71000% 990.68883450 2.23730562 0.00000000 A-2 86,036,000.00 2.87000% 991.80598377 2.37206937 0.00000000 A-3 170,694,000.00 2.71000% 978.39878227 2.20955060 0.00000000 X-A1 0.00 0.54327% 990.87366368 0.44859090 0.00000000 X-A2 0.00 0.79694% 978.39878227 0.64977176 0.00000000 X-B 0.00 0.28423% 1000.00000000 0.23685783 0.00000000 B-1 8,947,000.00 2.91000% 1000.00000000 2.42500056 0.00000000 B-2 6,084,000.00 3.26000% 1000.00000000 2.71666667 0.00000000 B-3 4,294,000.00 3.33590% 1000.00000000 2.77991383 0.00000000 B-4 1,431,000.00 3.33590% 1000.00000000 2.77991614 0.00000000 B-5 1,431,000.00 3.33590% 1000.00000000 2.77991614 0.00000000 B-6 2,865,425.69 3.33590% 1000.00000000 2.77991505 0.00000000 A-R 100.00 3.35700% 0.00000000 0.00000000 0.00000000
Remaining Current Non-Supported Unpaid Interest Interest Realized Total Interest Interest Ending Certificate/ Class (5) Shortfall Shortfall Loss (6) Distribution Shortfall Notational Balance - --------- ---------- ------------- ---------- -------------- ---------- ------------------- A-1 0.00000000 0.00000000 0.00000000 2.23730562 0.00000000 981.45724626 A-2 0.00000000 0.00000000 0.00000000 2.37206937 0.00000000 987.80530859 A-3 0.00000000 0.00000000 0.00000000 2.20955060 0.00000000 971.86492202 X-A1 0.00000000 0.00000000 0.00000000 0.44861036 0.00000000 982.50751518 X-A2 0.00000000 0.00000000 0.00000000 0.64980140 0.00000000 971.86492202 X-B 0.00000000 0.00000000 0.00000000 0.23697026 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 0.00000000 2.42500056 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 0.00000000 2.71666667 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 0.00000000 2.77991383 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 0.00000000 2.77991614 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 0.00000000 2.77991614 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 0.00000000 2.77991505 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
(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 7,580,657.83 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 62,389.85 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 7,643,047.68 Withdrawals Reimbursement for Servicer Advances 1,705.83 Payment of Service Fee 209,431.43 Payment of Interest and Principal 7,431,910.42 ------------ Total Withdrawals (Pool Distribution Amount) 7,643,047.68 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 203,831.70 Master Servicing Fee 5,599.73 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 209,431.43 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ---------------------------------- --------- ----------- -------- -------- Class X-A1 Pool 1 Comp. Sub Amount 3,000.00 5.06 5.06 3,000.00 Class X-A1 Pool 2 Comp. Sub Amount 3,000.00 5.06 5.06 3,000.00 Class X-A2 Sub Amount 3,000.00 5.06 5.06 3,000.00 Class X-B Sub Amount 1,000.00 1.69 1.69 1,000.00
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 49 21,402,980.01 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 -- ------------- -- ---- -- ---- 49 21,402,980.01 0 0.00 0 0.00 == ============= == ==== == ====
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 49 21,402,980.01 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 49 21,402,980.01 == ==== == =============
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------------- ------------------------------ ------------------------------ 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 2.540176% 3.049428% 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% -------- -------- -------- -------- -------- -------- 2.540176% 3.049428% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- -------------------------------- 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 2.540176% 3.049428% 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% 2.540176% 3.049428% ======== ======== ======== ========
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 62,389.85
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 25,052,425.69 3.50007856% 25,052,425.69 3.56939035% 96.430610% 0.000000% Class B-1 16,105,425.69 2.25009170% 16,105,425.69 2.29465010% 1.274740% 35.713109% Class B-2 10,021,425.69 1.40009505% 10,021,425.69 1.42782103% 0.866829% 24.285074% Class B-3 5,727,425.69 0.80017959% 5,727,425.69 0.81602549% 0.611796% 17.140057% Class B-4 4,296,425.69 0.60025435% 4,296,425.69 0.61214114% 0.203884% 5.712022% Class B-5 2,865,425.69 0.40032910% 2,865,425.69 0.40825679% 0.203884% 5.712022% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.408257% 11.437718%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------------ -------------------------------- -------------------------------- POOL ONE 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 31 16,302,301.09 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 -- ------------- -- ---- -- ---- 31 16,302,301.09 0 0.00 0 0.00 == ============= == ==== == ====
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 31 16,302,301.09 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 31 16,302,301.09 == ==== == =============
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- 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 2.651839% 3.690988% 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% -------- -------- -------- --------- -------- --------- 2.651839% 3.690988% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- -------------------------------- 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 2.651839% 3.690988% 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% 2.651839% 3.690988% ======== ======== ======== ========
DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------- ------------------------------- ------------------------------- POOL TWO 1.183654% 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 5 1,623,659.40 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 -- ------------ -- ---- --- ---- 5 1,623,659.40 0 0.00 0 0.00 == ============ == ==== == ====
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 5 1,623,659.40 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 5 1,623,659.40 == ==== == ============
DELINQUENT BANKRUPTCY FORECLOSURE - ----------------------------------- -------------------------------- -------------------------------- 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 2.092050% 1.842816% 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% -------- --------- -------- -------- -------- -------- 2.092050% 1.842816% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- ------------------------------------ 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 2.092050% 1.842816% 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% 2.092050% 1.842816% ======== ======== ======== ========
DELINQUENT BANKRUPTCY FORECLOSURE - ----------------------------------- -------------------------------- -------------------------------- POOL THREE 1.183654% 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 13 3,477,019.52 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 -- ------------ -- ---- -- ---- 13 3,477,019.52 0 0.00 0 0.00 == ============ == ==== == ====
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 13 3,477,019.52 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 13 3,477,019.52 == ==== == ============
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- 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 2.495202% 2.020553% 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% -------- -------- -------- -------- -------- -------- 2.495202% 2.020553% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- -------------------------------- 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 2.495202% 2.020553% 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% 2.495202% 2.020553% ======== ======== ======== ========
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed Arm - ---------------------- ----------------- Weighted Average Gross Coupon 3.690693% Weighted Average Net Coupon 3.344891% Weighted Average Pass-Through Rate 3.335391% Weighted Average Maturity (Stepdown Calculation) 302 Beginning Scheduled Collateral Loan Count 1,945 Number of Loans Paid in Full 16 Ending Scheduled Collateral Loan Count 1,929 Beginning Scheduled Collateral Balance 707,334,340.89 Ending Scheduled Collateral Balance 701,868,477.24 Ending Actual Collateral Balance at 31-Dec-2004 701,868,621.85 Monthly P&I Constant 2,175,461.64 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 7,362,249.94 Scheduled Principal 0.00 Unscheduled Principal 5,465,863.65
MISCELLANEOUS REPORTING Rapid Prepay Condition? NO
GROUP POOL ONE POOL TWO POOL THREE TOTAL ----- -------------- ----------------- -------------- ----------------- Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM Fixed & Mixed ARM Weighted Average Coupon Rate 3.653753 3.728504 3.766441 3.690693 Weighted Average Net Rate 3.276515 3.353504 3.516441 3.344891 Pass-Through Rate 3.267015 3.344044 3.506941 3.335391 Weighted Average Maturity 332 336 209 302 Record Date 12/31/2004 12/31/2004 12/31/2004 12/31/2004 Principal and Interest Constant 1,357,018.05 274,827.18 543,616.41 2,175,461.64 Beginning Loan Count 1,176 240 529 1,945 Loans Paid in Full 7 1 8 16 Ending Loan Count 1,169 239 521 1,929 Beginning Scheduled Balance 445,684,710.99 88,451,736.88 173,197,893.02 707,334,340.89 Ending Scheduled Balance 441,678,340.17 88,107,534.79 172,082,602.28 701,868,477.24 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 4,006,370.82 344,202.09 1,115,290.74 5,465,863.65 Scheduled Interest 1,357,018.05 274,827.18 543,616.41 2,175,461.64 Servicing Fee 140,107.64 27,641.17 36,082.89 203,831.70 Master Servicing Fee 3,528.34 700.24 1,371.15 5,599.73 Trustee Fee 0.00 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 0.00 Net Interest 1,213,382.07 246,485.77 506,162.37 1,966,030.21 Realized Loss Amount 0.00 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 0.00
MISCELLANEOUS REPORTING Group Pool One One Month Libor Loan Balance 220,063,413.49 Six Month Libor Loan Balance 221,614,926.68 Principal Transfer Amount 0.00 Pro Rata Senior Percent 96.468217% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Interest Transfer Amount 0.00 Group Pool Two Principal Transfer Amount 0.00 Pro Rata Senior Percent 96.471842% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Interest Transfer Amount 0.00 Group Pool Three One Month Libor Loan Balance 86,536,371.79 Six Month Libor Loan Balance 85,546,230.49 Principal Transfer Amount 0.00 Pro Rata Senior Percent 96.425423% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Interest Transfer Amount 0.00