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., as Certificate Administrator for the SMT Series 2004-11 trust. It summarizes the principal and interest payments made to certificateholders as of March 31, 2005, with distributions occurring on April 20, 2005. The statement details the amounts distributed to each class of certificate, the remaining balances, and confirms that all calculations were made in accordance with the Pooling and Servicing Agreement. No realized losses are reported for this period.

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EX-10.1 2 f08876fexv10w1.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: MARCH 31, 2005 DISTRIBUTION DATE: APRIL 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Principal Current Class CUSIP Description Rate Certificate Balance Distribution Distribution Realized Loss - ------ --------- ----------- ------------ ------------------- ------------- ------------- ------------- A-1 81744FFJ1 SEN 3.15000% 412,607,108.32 1,083,093.66 13,553,422.22 0.00 A-2 81744FFK8 SEN 2.87000% 81,724,013.94 195,456.60 2,988,956.68 0.00 A-3 81744FFL6 SEN 3.15000% 160,308,466.03 420,809.72 2,228,596.30 0.00 X-A1 81744FFM4 IO 0.54879% 0.00 226,069.95 0.00 0.00 X-A2 81744FFN2 IO 0.92581% 0.00 123,679.78 0.00 0.00 X-B 81744FFP7 IO 0.26543% 0.00 3,324.77 0.00 0.00 B-1 81744FFR3 SUB 3.35000% 8,947,000.00 24,977.04 0.00 0.00 B-2 81744FFS1 SUB 3.70000% 6,084,000.00 18,759.00 0.00 0.00 B-3 81744FFT9 SUB 3.75710% 4,294,000.00 13,444.16 0.00 0.00 B-4 81744FFU6 SUB 3.75710% 1,431,000.00 4,480.34 0.00 0.00 B-5 81744FFV4 SUB 3.75710% 1,431,000.00 4,480.34 0.00 0.00 B-6 81744FFW2 SUB 3.75710% 2,865,425.69 8,971.41 0.00 0.00 A-R 81744FFQ5 RES 3.42592% 0.00 0.21 0.00 0.00 ------- -------------- ------------ ------------- ---- Totals 679,692,013.98 2,127,546.98 18,770,975.20 0.00 ------- -------------- ------------ ------------- ---- Ending Certificate Total Cumulative Class CUSIP Balance Distribution Realized Loss - ------ --------- ------------------ ------------- ------------- A-1 81744FFJ1 399,053,686.10 14,635,515.88 0.00 A-2 81744FFK8 78,735,057.26 3,184,413.28 0.00 A-3 81744FFL6 158,079,869.73 2,649,406.02 0.00 X-A1 81744FFM4 0.00 226,069.95 0.00 X-A2 81744FFN2 0.00 123,679.78 0.00 X-B 81744FFP7 0.00 3,324.77 0.00 B-1 81744FFR3 8,947,000.00 24.977.04 0.00 B-2 81744FFS1 6,084,000.00 18,759.00 0.00 B-3 81744FFT9 4,294,000.00 13,444.16 0.00 B-4 81744FFU6 1,431,000.00 4,480.34 0.00 B-5 81744FFV4 1,431,000.00 4,480.34 0.00 B-6 81744FFW2 2,865,425.69 8,971.41 0.00 A-R 81744FFQ5 0.00 0.21 0.00 -------------- ------------- ---- Totals 660,921,038.78 20,898,522.18 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 Total Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - ------ -------------- -------------- ------------ ------------- --------- -------- --------------- A-1 433,985,000.00 412,607,108.32 0.00 13,553,422.22 0.00 0.00 13,553,422.22 A-2 86,036,000.00 81,724,013.94 0.00 2,988,956.68 0.00 0.00 2,988,956.68 A-3 170,694,000.00 160,308,466.03 0.00 2,228,596.30 0.00 0.00 2,228,596.30 X-A1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-A2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 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 0.00 0.00 B-2 6,084,000.00 6,084,000.00 0.00 0.00 0.00 0.00 0.00 B-3 4,294,000.00 4,294,000.00 0.00 0.00 0.00 0.00 0.00 B-4 1,431,000.00 1,431,000.00 0.00 0.00 0.00 0.00 0.00 B-5 1,431,000.00 1,431,000.00 0.00 0.00 0.00 0.00 0.00 B-6 2,865,425.69 2,865,425.69 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- ------------- Totals 715,767,525.69 679,692,013.98 0.00 18,770,975.20 0.00 0.00 18,770,975.20 -------------- -------------- ---- ------------- ---- ---- ------------- Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ------ ------------------ ------------------ --------------- A-1 399,053,686.10 0.91951032 13,553,422.22 A-2 78,735,057.26 0.91514084 2,988,956.68 A-3 158,079,869.73 0.92610092 2,228,596.30 X-A1 0.00 0.00000000 0.00 X-A2 0.00 0.00000000 0.00 X-B 0.00 0.00000000 0.00 B-1 8,947,000.00 1.00000000 0.00 B-2 6,084,000.00 1.00000000 0.00 B-3 4,294,000.00 1.00000000 0.00 B-4 1,431,000.00 1.00000000 0.00 B-5 1,431,000.00 1.00000000 0.00 B-6 2,865,425.69 1.00000000 0.00 A-R 0.00 0.00000000 0.00 -------------- ---------- ------------- Totals 660,921,038.78 0.92337388 18,770,975.20 -------------- ---------- -------------
(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 Realized Total Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction - ----- -------------- ------------- ------------ ------------ ---------- ---------- --------------- A-1 433,985,000900 950.74048255 0.00000000 31.23016284 0.00000000 0.00000000 31.23016284 A-2 86,036,000.00 949.88160700 0.00000000 34.74076759 0.00000000 0.00000000 34.74076759 A-3 170,694,000.00 939.15700628 0.00000000 13.05609043 0.00000000 0.00000000 13.05609043 X-A1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-A2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,947,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 6,084,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,294,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,431,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,431,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,865,425.69 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution - ----- ------------------ ----------- --------------- A-1 919.51031971 0.91951032 31.23016284 A-2 915.14083942 0.91514084 34.74076759 A-3 926.10091585 0.92610092 13.05609043 X-A1 0.00000000 0.00000000 0.00000000 X-A2 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 0.00000000 B-2 1000.00000000 1.00000000 0.00000000 B-3 1000.00000000 1.00000000 0.00000000 B-4 1000.00000000 1.00000000 0.00000000 B-5 1000.00000000 1.00000000 0.00000000 B-6 1000.00000000 1.00000000 0.00000000 A-R 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 Non- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Realized Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------ -------------- ---------------- -------------- ------------ ---------- --------- --------- -------- A-1 433,985,000.00 3.15000% 412,607,108.32 1,083,093.66 0.00 0.00 0.00 0.00 A-2 80,036,000.00 2.87000% 81,724,013.94 195,456.60 0.00 0.00 0.00 0.00 A-3 170,694,000.00 3.15000% 160,308,466.03 420,809.72 0.00 0.00 0.00 0.00 X-A1 0.00 0.54879% 494,331,122.26 226,069.95 0.00 0.00 0.00 0.00 X-A2 0.00 0.92581% 160,308,466.03 123,679.78 0.00 0.00 0.00 0.00 X-B 0.00 0.26543% 15,031,000.00 3,324.77 0.00 0.00 0.00 0.00 B-1 8,947,000.00 3.35000% 8,947,000.00 24,977.04 0.00 0.00 0.00 0.00 B-2 6,084,000.00 3.70000% 6,084,000.00 18,759.00 0.00 0.00 0.00 0.00 B-3 4,294,000.00 3.75710% 4,294,000.00 13,444.16 0.00 0.00 0.00 0.00 B-4 1,431,000.00 3.75710% 1,431,000.00 4,480.34 0.00 0.00 0.00 0.00 B-5 1,431,000.00 3.75710% 1,431,000.00 4,480.34 0.00 0.00 0.00 0.00 B-6 2,865,425.69 3.75710% 2,865,425.69 8,971.43 0.00 0.00 0.00 0.00 A-R 100.00 3.42592% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------- -------------- ------------ ---- ---- ---- ---- Totals 715,767,525.69 2,127,546.77 0.00 0.00 0.00 0.00 -------------- ------- -------------- ------------ ---- ---- ---- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------ -------------- --------- -------------- A-1 1,083,093.66 0.00 399.053,686.10 A-2 195,456.60 0.00 78,735,057.26 A-3 420,809.72 0.00 158,079,869.73 X-A1 226,069.95 0.00 477,788,743.36 X-A2 123,679.78 0.00 158,079,869.73 X-B 3,324.77 0.00 15,031,000.00 B-1 24,977.04 0.00 8,947,000.00 B-2 18,759.00 0.00 6,084,000.00 B-3 13,444.16 0.00 4,294,000.00 B-4 4,480.34 0.00 1,431,000.00 B-5 4,480.34 0.00 1,431,000.00 B-6 8,971.41 0.00 2,865,425.00 A-R 0.21 0.00 0.00 ------------ ---- -------------- Totals 2,127,546.98 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 Non- Current Beginning Unpaid Current Supported Class Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ----- -------------- ----------- ---------------- --------------- ---------- ---------- ---------- ---------- A-1 433,985,000.00 3.15000% 950.74048255 2.49569377 0.00000000 0.00000000 0.00000000 0.00000000 A-2 86,036,000.00 2.87000% 949.88160700 2.27180018 0.00000000 0.00000000 0.00000000 0.00000000 A-3 170,694,000.00 3.15000% 939.15700628 2.46528712 0.00000000 0.00000000 0.00000000 0.00000000 X-A1 0.00 0.54879% 950.59838403 0.43473235 0.00000000 0.00000000 0.00000000 0.00000000 X-A2 0.00 0.92581% 939.15700628 0.72457017 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.26543% 1000.00000000 0.22119420 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,947,000.00 3.35000% 1000.00000000 2.79166648 0.00000000 0.00000000 0.00000000 0.00000000 B-2 6,084,000.00 3.37000% 1000.00000000 3.08333333 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,294,000.00 3.75710% 1000.00000000 3.13091756 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,431,000.00 3.75710% 1000.00000000 3.13091544 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,431,000.00 3.75710% 1000.00000000 3.13091544 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,865,425.69 3.75710% 1000.00000000 3.13091700 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.42592% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance - ----- -------------- ---------- ------------------- A-1 2.49569377 0.00000000 919.51031971 A-2 2.27180018 0.00000000 915.14083942 A-3 2.46528712 0.00000000 926.10091585 X-A1 0.43473235 0.00000000 918.78740159 X-A2 0.72457017 0.00000000 926.10091585 X-B 0.22119420 0.00000000 1000.00000000 B-1 2.79166648 0.00000000 1000.00000000 B-2 3.08333333 0.00000000 1000.00000000 B-3 3.13091756 0.00000000 1000.00000000 B-4 3.13091544 0.00000000 1000.00000000 B-5 3.13091544 0.00000000 1000.00000000 B-6 3.13091700 0.00000000 1000.00000000 A-R 2.10000000 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 21,099,794.04 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 21,099,794.04 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 201,271.86 Payment of Interest and Principal 20,898,522.18 ------------- Total Withdrawals (Pool Distribution Amount) 21,099,794.04 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 195,890.96 Master Servicing Fee 5,380.90 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 201,271.86 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ---------------------------------- --------- ----------- -------- -------- Class X-A1 Pool 1 Comp. Sub Amount 3,000.00 0.00 0.00 3,000.00 Class X-A1 Pool 2 Comp. Sub Amount 3,000.00 0.00 0.00 3,000.00 Class X-A2 Sub Amount 3,000.00 0.00 0.00 3,000.00 Class X-B Sub Amount 1,000.00 0.00 0.00 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 28 9,776,339.70 30 Days 0 0.00 30 Days 0 0.00 60 Days 3 3,974,204.12 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 13,750,543.82 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 1.522567% 1.479193% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.163132% 0.601310% 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% -------- ------------- -------- -------- -------- -------- 1.685699% 2.080503% 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 28 9,776,339.70 60 Days 0 0.00 60 Days 3 3,974,204.12 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 13,750,543.82 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 1.522567% 1.479193% 60 Days 0.000000% 0.000000% 60 Days 0.163132% 0.601310% 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% 1.685699% 2.080503%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Original $ Original % Current $ Current % Current Class % Prepayment % ------------- ----------- ------------- ----------- --------------- ------------ Class A 25,052,425.69 3.50007856% 25,052,425.69 3.79053234% 96.209468% 0.000000% Class B-1 16,105,425.69 2.25009170% 16,105,425.69 2.43681541% 1.353717% 35.713109% Class B-2 10,021,425.69 1.40009505% 10,021,425.69 1.51628184% 0.920534% 24.285074% Class B-3 5,727,425.69 0.80017959% 5,727,.425.69 0.86658244% 0.649699% 17.140057% Class B-4 4,296,425.69 0.60025435% 4,296,425.69 0.65006641% 0.216516% 5.712022% Class B-5 2,865,425.69 0.40032910% 2,865,425.69 0.43355038% 0.216516% 5.712022% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.433550% 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 14 5,711,639.71 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 500,000.00 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 ----- ------------ ----- --------- ----- -------- 15 6,211,639.71 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 1.254480% 1.376972% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.089606% 0.125041% 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% -------- --------- -------- -------- -------- --------- 1.344086% 1.497513% 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 14 5,711,639.71 60 Days 0 0.00 60 Days 1 500,000.00 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 15 6,211,639.71 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 1.254480% 1.376972% 60 Days 0.000000% 0.000000% 60 Days 0.089606% 0.125041% 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% 1.344086% 1.497513%
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 0 0.00 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 ----- --------- ----- -------- ----- -------- 0 0.00 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 0.000000% 0.000000% 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% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 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 0 0.00 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 0 0.00 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 0.000000% 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% 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% 0.000000% 0.000000%
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 14 4,064,699.99 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 3,474,204.12 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 ----- ------------ ----- ----- ----- ----- 16 7,538,904.11 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 2.805611% 2.474387% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.400802% 2.114923% 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% -------- ------------ -------- -------- -------- -------- 3.206413% 4.589310% 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 14 4,064,699.99 60 Days 0 0.00 60 Days 2 3,474,204.12 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 16 7,538,904.11 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 2.805611% 2.474387% 60 Days 0.000000% 0.000000% 60 Days 0.400802% 2.114923% 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% 3.206413% 4.589310%
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed Arm Weighted Average Gross Coupon 4.111542% Weighted Average Net Coupon 3.765696% Weighted Average Pass-Through Rate 3.756196% Weighted Average Maturity (Stepdown Calculation) 299 Beginning Scheduled Collateral Loan Count 1,879 Number of Loans Paid in Full 40 Ending Scheduled Collateral Loan Count 1,839 Beginning Scheduled Collateral Balance 679,692,013.98 Ending Scheduled Collateral Balance 660,921,038.78 Ending Actual Collateral Balance at 31-Mar-2005 660,923,873.48 Monthly P&I Constant 2,328,818.83 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 20,820,084.91 Scheduled Principal 0.00 Unscheduled Principal 18,770,975.20
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 4.057532 3.945093 4.335314 4.111542 Weighted Average Net Rate 3.680204 3.570093 4.085314 3.765696 Pass-Through Rate 3.670704 3.560593 4.075814 3.756196 Weighted Average Maturity 329 333 206 299 Record Date 03/31/2005 03/31/2005 03/31/2005 03/31/2005 Principal and Interest Constant 1,448,362.00 278,933.66 601,523.17 2,328,818.83 Beginning Loan Count 1,140 231 508 1,879 Loans Paid in Full 24 7 9 40 Ending Loan Count 1,116 224 499 1,839 Beginning Scheduled Balance 428,347,725.47 84,844,731.20 166,499,557.31 679,692,013.98 Ending Scheduled Balance 414,794,303.25 81,855,774.52 164,270,961.01 660,921,038.78 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 13,553,422.22 2,988,956.68 2,228,596.30 18,770,975.20 Scheduled Interest 1,448,362.00 278,933.66 601,523.17 2,328,818.83 Servicing Fee 134,689.57 26,513.98 34,687.41 195,890.96 Master Servicing Fee 3,391.09 671.69 1,318.12 5,380.90 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 1,310,281.34 251,747.99 565,517.64 2,127,546.97 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 207,397,956.84 Six Month Libor Loan Balance 207,396,346.41 Principal Transfer Amount 0.00 Pro Rata Senior Percent 96.325271% 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 96.321849% 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 79,542,632.64 Six Month Libor Loan Balance 84,728,328.37 Principal Transfer Amount 0.00 Pro Rata Senior Percent 96.281617% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Interest Transfer Amount 0.00