Wells Fargo Bank Minnesota, N.A. SMT Series 2005-1 Certificateholder Distribution Statement (March 2005)

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A., as Certificate Administrator, for holders of asset-backed securities in the SMT Series 2005-1 trust. It details the amounts of principal and interest distributed to each class of certificateholders as of the February 28, 2005 record date and March 21, 2005 distribution date. The statement summarizes balances, payments, and losses (if any) for each class, confirming that all calculations were made in accordance with the Pooling and Servicing Agreement.

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EX-10.1 2 f07714dexv10w1.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 2005-1 RECORD DATE: FEBRUARY 28, 2005 DISTRIBUTION DATE: MARCH 21, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Current Class Pass-Through Certificate Interest Principal Realized Class CUSIP Description Rate Balance Distribution Distribution Loss - ----- --------- ----------- ------------ -------------- ------------ ------------ -------- A-1 81744FGM# SEN 2.82813% 295,834,629.68 697,215.66 5,321,355.47 0.00 A-2 81744FGN1 SEN 3.16875% 99,159,895.24 261,844.10 752,183.24 0.00 X-A 81744FGP6 IO 0.61224% 0.00 201,526.69 0.00 0.00 X-B 81744FGS0 IO 0.33215% 0.00 3,069.73 0.00 0.00 B-1 81744FGQ4 SUB 3.01813% 7,067,000.00 17,774.27 0.00 0.00 B-2 81744FGR2 SUB 3.29813% 3,949,000.00 10,853.60 0.00 0.00 B-3 81744FGU5 SUB 3.84813% 2,495,000.00 8,000.90 0.00 0.00 B-4 81744FGV3 SUB 3.52588% 1,455,000.00 4,275.13 0.00 0.00 B-5 81744FGW1 SUB 3.52588% 831,000.00 2,441.67 0.00 0.00 B-6 81744FGX9 SUB 3.52588% 1,871,544.03 5,499.04 0.00 0.00 A-R 81744FGT8 RES 3.65457% 0.00 0.59 0.00 0.00 -------------- ------------ ------------ ---- Totals 412,663,068.95 1,212,501.38 6,073,538.71 0.00 -------------- ------------ ------------ ---- Ending Cumulative Certificate Total Realized Class CUSIP Balance Distribution Loss - ----- --------- -------------- ------------ ---------- A-1 81744FGM# 290,513,274.21 6,018,571.13 0.00 A-2 81744FGN1 98,407,712.00 1,014,027.34 0.00 X-A 81744FGP6 0.00 201,526.69 0.00 X-B 81744FGS0 0.00 3,069.73 0.00 B-1 81744FGQ4 7,067,000.00 17,774.27 0.00 B-2 81744FGR2 3,949,000.00 10,853.60 0.00 B-3 81744FGU5 2,495,000.00 8,000.90 0.00 B-4 81744FGV3 1,455,000.00 4,275.13 0.00 B-5 81744FGW1 831,000.00 2,441.67 0.00 B-6 81744FGX9 1,871,544.03 5,499.04 0.00 A-R 81744FGT8 0.00 0.59 0.00 -------------- ------------ ---- Totals 406,589,530.24 7,286,040.09 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) - ----- -------------- -------------- ------------ ------------ --------- -------- A-1 298,055,000.00 295,834,629.68 1.41 5,321,354.06 0.00 0.00 A-2 100,000,000.00 99,159,895.24 0.00 752,183.24 0.00 0.00 X-A 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 B-1 7,067,000.00 7,067,000.00 0.00 0.00 0.00 0.00 B-2 3,949,000.00 3,949,000.00 0.00 0.00 0.00 0.00 B-3 2,495,000.00 2,495,000.00 0.00 0.00 0.00 0.00 B-4 1,455,000.00 1,455,000.00 0.00 0.00 0.00 0.00 B-5 831,000.00 831,000.00 0.00 0.00 0.00 0.00 B-6 1,871,544.03 1,871,544.03 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------ ---- ---- Totals 415,723,644.03 412,663,068.95 1.41 6,073,357.30 0.00 0.00 -------------- -------------- ---- ------------ ---- ---- Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- ------------ -------------- ----------- --------------- A-1 5,321,355.47 290,513,274.21 0.97469687 5,321,355.47 A-2 752,183.24 98,407,712.00 0.98407712 752,183.24 X-A 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-1 0.00 7,067,000.00 1.00000000 0.00 B-2 0.00 3,949,000.00 1.00000000 0.00 B-3 0.00 2,495,000.00 1.00000000 0.00 B-4 0.00 1,455,000.00 1.00000000 0.00 B-5 0.00 831,000.00 1.00000000 0.00 B-6 0.00 1,871,544.03 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ------------ -------------- ----------- --------------- Totals 6,073,538.71 406,589,530.24 0.97802840 6,073,538.71 ------------ -------------- ----------- ---------------
(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 Class Amount Balance Distribution Distribution Accretion Loss (3) - ----- -------------- ------------- ------------ ------------ ---------- ----------- A-1 298,055,000.00 992.55046780 0.00000473 17.85359769 0.00000000 0.00000000 A-2 100,000,000.00 991.59895240 0.00000000 7.52183240 0.00000000 0.00000000 X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 7,067,000.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 3,949,000.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 2,495,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,455,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 831,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,871,544.03 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- ------------ -------------- ----------- --------------- A-1 17.85360242 974.69686538 0.97469687 17.85360242 A-2 7.52183240 984.07712000 0.98407712 7.52183240 X-A 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000 A-R 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) - ----- -------------- ----------- -------------- ------------ ---------- --------- ------------- -------- A-1 298,055,000.00 2.82813% 295,834,629.68 697,215.66 0.00 0.00 0.00 0.00 A-2 100,000,000.00 3.16875% 99,159,895.24 261,844.10 0.00 0.00 0.00 0.00 X-A 0.00 0.61224% 394,994,524.92 201,526.69 0.00 0.00 0.00 0.00 X-B 0.00 0.33215% 13,511,000.00 3,739.73 0.00 0.00 0.00 0.00 B-1 7,067,000.00 3.01813% 7,067,000.00 17,774.27 0.00 0.00 0.00 0.00 B-2 3,949,000.00 3.29813% 3,949,000.00 10,853.60 0.00 0.00 0.00 0.00 B-3 2,495,000.00 3.84813% 2,495,000.00 8,000.90 0.00 0.00 0.00 0.00 B-4 1,455,000.00 3.52588% 1,455,000.00 4,275.13 0.00 0.00 0.00 0.00 B-5 831,000.00 3.52588% 831,000.00 2,441.67 0.00 0.00 0.00 0.00 B-6 1,871,544.03 3.52588% 1,871,544.03 5,499.04 0.00 0.00 0.00 0.00 A-R 100.00 3.65457% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Totals 415,723,644.03 1,213,170.79 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ----- -------------- --------- -------------- A-1 697,215.66 0.00 290,513,274.21 A-2 261,844.10 0.00 98,407,712.00 X-A 201,526.69 0.00 388,920,986.21 X-B 3,069.73 0.00 13,511,000.00 B-1 17,774.27 0.00 7,067,000.00 B-2 10,853.60 0.00 3,949,000.00 B-3 8,000.90 0.00 2,495,000.00 B-4 4,275.13 0.00 1,455,000.00 B-5 2,441.67 0.00 831,000.00 B-6 5,499.04 0.00 1,871,544.03 A-R 0.59 0.00 0.00 ------------ ---- Totals 1,212,501.38 0.00 ------------ ----
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
Beginning Payment of Current Certificate/ Current Unpaid Current Non-Supported Class Original Face Certificate Notional Accrued Interest Interest Interest Realized (5) Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (6) - ----- -------------- ----------- ------------- ------------ ---------- ---------- ------------- ---------- A-1 298,055,000.00 2.82813% 992.55046780 2.33921813 0.00000000 0.00000000 0.00000000 0.00000000 A-2 100,000,000.00 3.16875% 991.59895240 2.61844100 0.00000000 0.00000000 0.00000000 0.00000000 X-A 0.00 0.61224% 992.31142661 0.50627850 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.33215% 1000.00000000 0.27679150 0.00000000 0.00000000 0.00000000 0.00000000 B-1 7,067,000.00 3.01813% 1000.00000000 2.51510825 0.00000000 0.00000000 0.00000000 0.00000000 B-2 3,949,000.00 3.29813% 1000.00000000 2.74844264 0.00000000 0.00000000 0.00000000 0.00000000 B-3 2,495,000.00 3.84813% 1000.00000000 3.20677355 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,455,000.00 3.52588% 1000.00000000 2.93823368 0.00000000 0.00000000 0.00000000 0.00000000 B-5 831,000.00 3.52588% 1000.00000000 3.93823105 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,871,544.03 3.52588% 1000.00000000 2.93823704 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.56457% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Unpaid Certificate/ Class Total Interest Interest Notational (5) Distribution Shortfall Balance - ----- -------------- ---------- ------------- A-1 2.33921813 0.00000000 974.69686538 A-2 2.61844100 0.00000000 984.07712000 X-A 0.50627850 0.00000000 977.05338762 X-B 0.22720228 0.00000000 1000.00000000 B-1 2.51510825 0.00000000 1000.00000000 B-2 2.74844264 0.00000000 1000.00000000 B-3 3.20677355 0.00000000 1000.00000000 B-4 2.93823368 0.00000000 1000.00000000 B-5 2.93823105 0.00000000 1000.00000000 B-6 2.93823704 0.00000000 1000.00000000 A-R 5.90000000 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 7,381,692.40 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 39,486.97 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 7,421,179.37 Withdrawals Reimbursement for Servicer Advances 1,815.13 Payment of Service Fee 133,324.15 Payment of Interest and Principal 7,286,040.90 ------------ Total Withdrawals (Pool Distribution Amount) 7,421,179.37 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 129,025.58 Master Servicing Fee 4,298.57 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 133,324.15 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ----------------------- --------- ----------- -------- -------- X-A Pool 1 Reserve Fund 4,500.00 0.00 0.00 4,500.00 X-A Pool 2 Reserve Fund 4,500.00 0.00 0.00 4,500.00 X-B Reserve Fund 1,000.00 670.01 670.01 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 32 12,904,462.84 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 -------- ------------- 32 12,904,462.84 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.702703% 3.173795% 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% -------- ------------- 2.702703% 3.173795%
BANKRUPTCY
No. of Principal Loans 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 Principal Loans 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%
FORECLOSURE
No. of Principal Loans 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 Principal Loans 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 Principal Loans 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 Principal Loans 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 Loans Balance 0-29 Days 0 0.00 30 Days 32 12,904,462.84 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 -------- ------------- 32 12,904,462.84 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.702703% 3.173795% 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% -------- ------------- 2.702703% 3.173795%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 39,486.97
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 17,668,544.03 4.25006956% 17,668,544.03 4.34554820% 95.654452% 0.000000% Class B-1 10,601,544.03 2.55014219% 10,601,544.03 2.60743163% 1.738117% 39.997636% Class B-2 6,652,544.03 1.60023230% 6,652,544.03 1.63618183% 0.971250% 22.350455% Class B-3 4,157,544.03 1.00007399% 4,157,544.03 1.02254085% 0.613641% 14.121141% Class B-4 2,702,544.03 0.65008187% 2,702,544.03 0.66468608% 0.357855% 8.234974% Class B-5 1,871,544.03 0.45018946% 1,871,544.03 0.46030306% 0.204383% 4.703274% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.460303% 10.592520%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP DELINQUENT GROUP ONE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 24 9,377,999.39 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 -------- ------------ 24 9,377,999.39 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.733485% 3.087457% 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% -------- ------------ 2.733485% 3.087457%
BANKRUPTCY
No. of Principal Loans 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 Principal Loans 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%
FORECLOSURE
No. of Principal Loans 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 Principal Loans 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 Principal Loans 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 Principal Loans 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 Loans Balance 0-29 Days 0 0.00 30 Days 24 9,377,999.39 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 -------- ------------ 24 9,377,999.39 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.733485% 3.087457% 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% -------- ------------ 2.733485% 3.087457%
DELINQUENT GROUP TWO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 8 3,526,463.45 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 -------- ------------ 8 3,526,463.45 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.614379% 3.428779% 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% -------- ------------ 2.614379% 3.428779%
BANKRUPTCY
1.183654% No. of Principal Loans 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 Principal Loans 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%
FORECLOSURE
No. of Principal Loans 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 Principal Loans 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 Principal Loans 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 Principal Loans 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 Loans Balance 0-29 Days 0 0.00 30 Days 8 3,526,463.45 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 -------- ------------ 8 3,526,463.45 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 2.614379% 3.428779% 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% -------- ------------ 2.614379% 3.428779%
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 3.913581% Weighted Average Net Coupon 3.538383% Weighted Average Pass-Through Rate 3.525883% Weighted Average Maturity (Stepdown Calculation) 334 Beginning Scheduled Collateral Loan Count 1,197 Number of Loans Paid in Full 13 Ending Scheduled Collateral Loan Count 1,184 Beginning Scheduled Collateral Balance 412,663,068.95 Ending Scheduled Collateral Balance 406,589,530.24 Ending Actual Collateral Balance at 28-Feb-2005 406,594,088.49 Monthly P&I Constant 1,345,826.82 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 7,233,455.15 Scheduled Principal 1.41 Unscheduled Principal 6,073,537.30
MISCELLANEOUS REPORTING Pro Rata Senior Percent 95.718409%
GROUP POOL ONE POOL TWO TOTAL - ------------------------------- -------------- ----------------- -------------- Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 3.911611 3.919460 3.913581 Weighted Average Net Rate 3.536480 3.544059 3.538383 Pass-Through Rate 3.523980 3.531559 3.525883 Weighted Average Maturity 333 338 334 Record Date 02/28/2005 02/28/2005 02/28/2005 Principal and Interest Constant 1,007,451.28 338,375.54 1,345,826.82 Beginning Loan Count 889 308 1,197 Loans Paid in Full 11 2 13 Ending Loan Count 878 306 1,184 Beginning Scheduled Balance 309,064,435.66 103,598,633.29 412,663,068.95 Ending Scheduled Balance 303,743,080.19 102,846,450.05 406,589,530.24 Scheduled Principal 1.41 0.00 1.41 Unscheduled Principal 5,321,354.06 752,183.24 6,073,537.30 Scheduled Interest 1,007,449.87 338,375.54 1,345,825.41 Servicing Fee 96,616.39 32,409.19 129,025.58 Master Servicing Fee 3,219.42 1,079.15 4,298.57 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 907,614.06 304,887.20 1,212,501.26 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 Pool One One Month Libor Loan Balance 155,832,493.22 Six Month Libor Loan Balance 147,910,586.97 Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Principal Transfer Amount 0.00 Interest Transfer Amount 0.00 Group Pool Two Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Principal Transfer Amount 0.00 Interest Transfer Amount 0.00