SMT Series 2004-12 Certificateholder Distribution Statement 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 2004-12 trust. It summarizes the principal and interest distributions made to holders of various classes of certificates as of March 31, 2005, with payments distributed on April 20, 2005. The statement details the amounts paid, outstanding balances, and other key financial data for each certificate class, as required by the Pooling and Servicing Agreement. No realized losses are reported for this period.

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EX-10.1 2 f08876gexv10w1.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 2004-12 RECORD DATE: MARCH 31, 2005 DISTRIBUTION DATE: APRIL 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution - ------ --------- ----------- ------------ -------------- ------------- A-1 81744FFY8 SEN 3.12000% 366,651,535.15 953,293.99 A-2 81744FFZ5 SEN 3.04000% 193,952,925.09 491,347.41 A-3 81744FGZ9 SEN 3.07000% 202,129,979.55 517,115.86 X-A1 81744FGC5 IO 0.48886% 0.00 228,379.96 X-A2 81744FGD3 IO 0.77494% 0.00 130,532.79 X-B 81744FGF8 IO 0.10751% 0.00 0.00 B-1 81744FGG6 SUB 3.35000% 8,588,000.00 23,974.83 B-2 81744FGH4 SUB 3.70000% 6,134,000.00 18,913.17 B-3 81744FGJ0 SUB 4.10000% 3,680,000.00 12,573.33 B-4 81744FGK7 SUB 3.58037% 2,453,000.00 7,318.87 B-5 81744FGK7 SUB 3.58037% 920,000.00 2,744.95 B-6 81744FGL5 SUB 3.58037% 2,762,778.00 8,243.14 A-R 81744FGE1 RES 3.77405% 0.00 0.50 --------- -------------- ------------- Totals 787,272,217.79 2,394,438.80 --------- -------------- ------------- Ending Principal Current Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ------ -------------- ------------- -------------- ------------- ------------- A-1 8,542,221.76 0.00 358,109,313.39 9,495,515.75 0.00 A-2 5,435,430.09 0.00 188,517,495.00 5,926,777.50 0.00 A-3 7,615,067.75 0.00 194,514,911.80 8,132,183.61 0.00 X-A1 0.00 0.00 0.00 228,379.96 0.00 X-A2 0.00 0.00 0.00 130,532.79 0.00 X-B 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 8,588,000.00 23,974.83 0.00 B-2 0.00 0.00 6,134,000.00 18,913.17 0.00 B-3 0.00 0.00 3,680,000.00 12,573.33 0.00 B-4 0.00 0.00 2,453,000.00 7,318.87 0.00 B-5 0.00 0.00 920,000.00 2,744.95 0.00 B-6 0.00 0.00 2,762,778.00 8,243.14 0.00 A-R 0.00 0.00 0.00 0.50 0.00 -------------- --------- -------------- ------------- --------- Totals 21,592,719.60 0.00 765,679,498.19 23,987,158.40 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 - ------ -------------- -------------- ------------ ------------- A-1 380,510,000.00 366,651,535.15 1,696.92 8,540,524.84 A-2 208,392,000.00 193,952,925.09 493.88 5,434,936.21 A-3 218,330,615.00 202,129,979.55 0.00 7,615,067.75 X-A1 0.00 0.00 0.00 0.00 X-A2 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 B-1 8,588,000.00 8,588,000.00 0.00 0.00 B-2 6,134,000.00 6,134,000.00 0.00 0.00 B-3 3,680,000.00 3,680,000.00 0.00 0.00 B-4 2,453,000.00 2,453,000.00 0.00 0.00 B-5 920,000.00 920,000.00 0.00 0.00 B-6 2,762,778.00 2,762,778.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 -------------- -------------- ------------ ------------- Totals 831,770,493.00 787,272,217.79 2,190.80 21,590,528.80 -------------- -------------- ------------ ------------- Total Ending Ending Realized Principal Certificate Certificate Total Principal Class Accretion Loss (1) Reduction Balance Percentage Distribution - ------ --------- -------- ------------- -------------- ----------- --------------- A-1 0.00 0.00 8,542,221.76 358,109,313.39 0.94112983 8,542,221.76 A-2 0.00 0.00 5,435,430.09 188,517,495.00 0.90462923 5,435,430.09 A-3 0.00 0.00 7,615,067.75 194,514,911.80 0.89091909 7,615,067.75 X-A1 0.00 0.00 0.00 0.00 0.00000000 0.00 X-A2 0.00 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 0.00 8,588,000.00 1.00000000 0.00 B-2 0.00 0.00 0.00 6,134,000.00 1.00000000 0.00 B-3 0.00 0.00 0.00 3,680,000.00 1.00000000 0.00 B-4 0.00 0.00 0.00 2,453,000.00 1.00000000 0.00 B-5 0.00 0.00 0.00 920,000.00 1.00000000 0.00 B-6 0.00 0.00 0.00 2,762,778.00 1.00000000 0.00 A-R 0.00 0.00 0.00 0.00 0.00000000 0.00 ------- ------ ------------- -------------- ----------- -------------- Totals 0.00 0.00 21,592,719.60 765,679,498.19 0.92054179 21,592,719.60 ------- ------ ------------- -------------- ----------- --------------
(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-1 380,510,000.00 963.57923616 0.00445959 22.44494189 0.00000000 A-2 208,392,000.00 930.71195195 0.00236996 26.08034958 0.00000000 A-3 218,330,615.00 925.79769241 0.00000000 34.87860715 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 8,588,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 6,134,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 3,680,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 2,453,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 2,762,778.00 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 22.44940149 941.12983467 0.94112983 22.44940149 A-2 0.00000000 26.08271954 904.62923241 0.90462923 26.08271954 A-3 0.00000000 38.87860715 890.91908526 0.89091909 34.87860715 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 Current Certificate/ Current Unpaid Original Face Certificate Notional Accrued Interest Class Amount Rate Balance Interest Shortfall - ------ --------------- ------------ -------------- ------------ ---------- A-1 380,510,000.00 3.12000% 366,651,535.15 953,293.99 0.00 A-2 208,392,000.00 3.04000% 193,952,925.09 491,347.41 0.00 A-3 218,330,615.00 3.07000% 202,129,979.55 517,115.86 0.00 X-A1 0.00 0.48886% 560,604,460.24 228,379.96 0.00 X-A2 0.00 0.77494% 202,129,979.55 130,532.79 0.00 X-B 0.00 0.10751% 18,402,000.00 1,648.69 0.00 B-1 8,588,000.00 3.35000% 8,588,000.00 23,974.83 0.00 B-2 6,134,000.00 3.70000% 6,134,000.00 18,913.17 0.00 B-3 3,680,000.00 4.10000% 3,680,000.00 12,573.33 0.00 B-4 2,453,000.00 3.58037% 2,453,000.00 7,318.87 0.00 B-5 920,000.00 3.58037% 920,000.00 2,744.95 0.00 B-6 2,762,778.00 3.58037% 2,762,778.00 8,243.14 0.00 A-R 100.00 3.77405% 0.00 0.00 0.00 --------------- ---------- -------------- ------------ ------- Totals 831,770,493.00 2,396,086.99 0.00 --------------- ---------- -------------- ------------ ------- Remaining Ending Current Non-Supporte Unpaid Certificate/ Interest Interest Realized Total Interest Interest Notational Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance - ------ --------- ------------ -------- -------------- --------- -------------- A-1 0.00 0.00 0.00 953,293.99 0.00 358,109,313.39 A-2 0.00 0.00 0.00 491,347.41 0.00 188,517,495.00 A-3 0.00 0.00 0.00 517,115.86 0.00 194,514,911.80 X-A1 0.00 0.00 0.00 228,379.96 0.00 546,626,808.39 X-A2 0.00 0.00 0.00 130,532.79 0.00 194,514,911.80 X-B 0.00 0.00 0.00 0.00 0.00 18,402,000.00 B-1 0.00 0.00 0.00 23,974.83 0.00 8,588,000.00 B-2 0.00 0.00 0.00 18,913.17 0.00 6,134,000.00 B-3 0.00 0.00 0.00 12,573.33 0.00 3,680,000.00 B-4 0.00 0.00 0.00 7,318.87 0.00 2,453,000.00 B-5 0.00 0.00 0.00 2,744.95 0.00 920,000.00 B-6 0.00 0.00 0.00 8,243.14 0.00 2,762,778.00 A-R 0.00 0.00 0.00 0.50 0.00 0.00 ------- -------- ------ -------------- ------- -------------- Totals 0.00 0.00 0.00 2,394,438.80 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 Class Original Face Certificate Certificate/ Current Accrued Interest (5) Amount Rate Notional Balance Interest Shortfall - ------ -------------- ----------- ---------------- --------------- ---------- A-1 380,510,000.00 3.12000% 963.57923616 2.50530601 0.00000000 A-2 208,392,000.00 3.04000% 930.71195195 2.35780361 0.00000000 A-3 218,330,615.00 3.07000% 925.79769241 2.36849908 0.00000000 X-A1 0.00 0.48886% 951.94864382 0.38780639 0.00000000 X-A2 0.00 0.77494% 925.79769241 0.59786755 0.00000000 X-B 0.00 0.10751% 1000.00000000 0.08959298 0.00000000 B-1 8,588,000.00 3.35000% 1000.00000000 2.79166628 0.00000000 B-2 6,134,000.00 3.70000% 1000.00000000 3.08333388 0.00000000 B-3 3,680,000.00 4.10000% 1000.00000000 3.41666576 0.00000000 B-4 2,453,000.00 3.58037% 1000.00000000 2.98364044 0.00000000 B-5 920,000.00 3.58037% 1000.00000000 2.98364130 0.00000000 B-6 2,762,778.00 3.58037% 1000.00000000 2.98364183 0.00000000 A-R 100.00 3.77405% 0.00000000 0.00000000 0.00000000 Non- Remaining Current Supported Unpaid Class Interest Interest Realized Total Interest Interest Ending Certificate/ (5) Shortfall Shortfall Loss (6) Distribution Shortfall Notational Balance - ------ ---------- ---------- ---------- -------------- ---------- ------------------- A-1 0.00000000 0.00000000 0.00000000 2.50530601 0.00000000 941.12983467 A-2 0.00000000 0.00000000 0.00000000 2.35780361 0.00000000 904.62923241 A-3 0.00000000 0.00000000 0.00000000 2.36849908 0.00000000 890.91908526 X-A1 0.00000000 0.00000000 0.00000000 0.38780639 0.00000000 890.91908526 X-A2 0.00000000 0.00000000 0.00000000 0.59786755 0.00000000 890.91908526 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 0.00000000 2.79166628 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 0.00000000 3.08333388 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 0.00000000 3.41666576 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 0.00000000 2.98364044 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 0.00000000 2.98364130 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 0.00000000 2.98364183 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 5.00000000 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 24,149,498.87 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 25,783.70 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 24,175,282.57 Withdrawals Reimbursement for Servicer Advances 313.20 Payment of Service Fee 187,810.97 Payment of Interest and Principal 23,987,158.40 ------------- Total Withdrawals (Pool Distribution Amount) 24,175,282.57 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 182,934.79 Master Servicing Fee 4,876.18 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 187,810.97 ==========
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 2,205.04 1,648.69 443.65
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 17 7,915,471.31 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 185,020.00 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 -------- ------------ -------- --------- -------- ---------- 18 8,100,491.31 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 1.011905% 1.385840% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.059524% 0.032393% 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% -------- ------------ -------- --------- -------- ---------- 1.071429% 1.418234% 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 17 7,915,471.31 60 Days 0 0.00 60 Days 1 185,020.00 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 18 8,100,491.31 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 1.011905% 1.385840% 60 Days 0.000000% 0.000000% 60 Days 0.059524% 0.032393% 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% 1.071429% 1.418234%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 25,783.70
DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------------ --------------------------------- ---------------------------------- GROUP 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 11 4,214,595.21 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 185,020.00 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 --------- ------------ -------- -------- -------- ------- 12 4,399,615.21 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 1.031895% 1.126999% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.093809% 0.049475% 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% --------- ------------ -------- -------- -------- -------- 1.125704% 1.176474% 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 11 4,214,595.21 60 Days 0 0.00 60 Days 1 185,020.00 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 12 4,399,615.21 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 1.031895% 1.126999% 60 Days 0.000000% 0.000000% 60 Days 0.093809% 0.049475% 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% 1.125704% 1.176474%
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------------- --------------------------------- --------------------------------- GROUP 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 6 3,700,876.10 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 -------- ------------ -------- -------- -------- -------- 6 3,700,876.10 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 0.977199% 1.876699% 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% -------- ------------ -------- -------- -------- -------- 0.977199% 1.876699% 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 6 3,700,876.10 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 6 3,700,876.10 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 0.977199% 1.876699% 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% 0.977199% 1.876699%
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed Arm Weighted Average Gross Coupon 3.966307% Weighted Average Net Coupon 3.591147% Weighted Average Pass-Through Rate 3.006938% Weighted Average Maturity (Stepdown Calculation) 335 Beginning Scheduled Collateral Loan Count 1,708 Number of Loans Paid in Full 28 Ending Scheduled Collateral Loan Count 1,680 Beginning Scheduled Collateral Balance 585,142,239.15 Ending Scheduled Collateral Balance 571,164,587.30 Ending Actual Collateral Balance at 31-Mar-2005 571,167,578.55 Monthly P&I Constant 1,936,235.52 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 2,190.80 Unscheduled Principal 13,975,461.05
MISCELLANEOUS REPORTING Rapid Prepay Condition? NO Underlying Certificate Balance 194,514,911.82 Underlying Certificate Interest 647,648.66 Underlying Certificate Principal 7,615,067.73
GROUP GROUP ONE GROUP TWO TOTAL Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 4.001807 3.899295 3.966307 Weighted Average Net Rate 3.626671 3.524091 3.591147 Weighted Average Maturity 334 338 335 Record Date 03/31/2005 03/31/2005 03/31/2005 Principal and Interest Constant 1,277,293.74 658,941.78 1,936,235.52 Beginning Loan Count 1,086 622 1,708 Loans Paid in Full 20 8 28 Ending Loan Count 1,066 614 1,680 Beginning Scheduled Balance 382,506,254.00 202,635,985.15 585,142,239.15 Ending Scheduled Balance 373,964,032.24 197,200,555.06 571,164,587.30 Scheduled Principal 1,696.92 493.88 2,190.80 Unscheduled Principal 8,540,524.84 5,434,936.21 13,975,461.05 Scheduled Interest 1,275,596.82 658,447.90 1,934,044.72 Servicing Fee 119,576.60 63,358.19 182,934.79 Master Servicing Fee 3,187.55 1,688.63 4,876.18 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 1,152,832.67 593,401.08 1,746,233.75 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00
MISCELLANEOUS REPORTING Group One One Month Libor Loan Balance 199,590,758.77 Six Month Libor Loan Balance 174,373,273.47 Principal Transfer Amount 0.00 Interest Transfer Amount 0.00 Pro Rata Senior Percent 95.855043% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Group Two Principal Transfer Amount 0.00 Interest Transfer Amount 0.00 Pro Rata Senior Percent 95.714947% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000%