Wells Fargo Bank Minnesota, N.A. SMT Series 2004-6 Certificateholder Distribution Statement (June 2004)

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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 2004-6 trust. It details the principal and interest distributions made to certificateholders as of June 30, 2004, with payments distributed on July 20, 2004. The statement lists the classes of certificates, their balances, interest rates, and amounts distributed, 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 f00745exv10w1.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 2004-6 RECORD DATE: JUNE 30, 2004 DISTRIBUTION DATE: JULY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass- Certificate Interest Class CUSIP Description Through Rate Balance Distribution ----- ----- ----------- ------------ ------- ------------ A-1 81744FCG0 SEN 2.79942% 500,000,000.00 1,166,424.77 A-2 81744FCH8 SEN 1.61000% 185,687,000.00 174,391.04 A-3-A 81744FCJ4 SEN 2.16375% 196,500,000.00 248,019.84 A-3-B 81744FCU9 SEN 2.30625% 3,500,000.00 4,708.59 X-A 81744FCK1 IO 1.36302% 0.00 438,081.28 X-B 81744FCL9 IO 1.37308% 0.00 28,577.22 B-1 81744FCN5 SUB 1.83000% 15,725,000.00 16,786.44 B-2 81744FCP0 SUB 2.21000% 9,250,000.00 11,924.79 B-3 81744FCQ8 SUB 2.75260% 5,550,000.00 12,730.77 B-4 81744FCR6 SUB 2.75260% 2,313,000.00 5,305.63 B-5 81744FCS4 SUB 2.75260% 2,313,000.00 5,305.63 B-6 81744FCT2 SUB 2.75260% 4,166,584.59 9,557.44 A-R 81744FCM7 R 2.79942% 100.00 29.34 -------------- ------------ Totals 925,004,684.59 2,121,842.78 -------------- ------------
Ending Principal Current Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss ----- ------------ ------------- ------- ------------ ------------- A-1 5,975,366.53 0.00 494,024,633.47 7,141,791.30 0.00 A-2 1,449,472.47 0.00 184,237,527.53 1,623,863.51 0.00 A-3-A 3,108,959.29 0.00 193,391,040.71 3,356,979.13 0.00 A-3-B 55,375.87 0.00 3,444,624.13 60,084.46 0.00 X-A 0.00 0.00 0.00 438,081.28 0.00 X-B 0.00 0.00 0.00 28,577.22 0.00 B-1 0.00 0.00 15,725,000.00 16,786.44 0.00 B-2 0.00 0.00 9,250,000.00 11,924.79 0.00 B-3 0.00 0.00 5,550,000.00 12,730.77 0.00 B-4 0.00 0.00 2,313,000.00 5,305.63 0.00 B-5 0.00 0.00 2,313,000.00 5,305.63 0.00 B-6 0.00 0.00 4,166,584.59 9,557.44 0.00 A-R 100.00 0.00 0.00 129.34 0.00 ------------- ---- -------------- ------------- ---- Totals 10,589,274.16 0.00 914,415,410.43 12,711,116.94 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-1 500,000,000.00 500,000,000.00 0.00 5,975,366.53 0.00 0.00 A-2 185,687,000.00 185,687,000.00 0.00 1,449,472.47 0.00 0.00 A-3 196,500,000.00 196,500,000.00 0.00 3,108,959.29 0.00 0.00 X-1 3,500,000.00 3,500,000.00 0.00 55,375.87 0.00 0.00 X-2 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 15,725,000.00 15,725,000.00 0.00 0.00 0.00 0.00 B-2 9,250,000.00 9,250,000.00 0.00 0.00 0.00 0.00 B-3 5,550,000.00 5,550,000.00 0.00 0.00 0.00 0.00 B-4 2,313,000.00 2,313,000.00 0.00 0.00 0.00 0.00 B-5 2,313,000.00 2,313,000.00 0.00 0.00 0.00 0.00 B-6 4,166,584.59 4,166,584.59 0.00 0.00 0.00 0.00 A-R 100.00 100.00 0.00 100.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Totals 925,004,684.59 925,004,684.59 0.00 10,589,274.16 0.00 0.00 -------------- -------------- ---- ------------- ---- ----
Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution ----- --------- ------- ---------- ------------ A-1 5,975,366.53 494,024,633.47 0.98804927 5,975,366.53 A-2 1,449,472.47 184,237,527.53 0.99219400 1,449,472.47 A-3 3,108,959.29 193,391,040.71 0.98417832 3,108,959.29 X-1 55,375.87 3,444,624.13 0.98417832 55,375.87 X-2 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-1 0.00 15,725,000.00 1.00000000 0.00 B-2 0.00 9,250,000.00 1.00000000 0.00 B-3 0.00 5,550,000.00 1.00000000 0.00 B-4 0.00 2,313,000.00 1.00000000 0.00 B-5 0.00 2,313,000.00 1.00000000 0.00 B-6 0.00 4,166,584.59 1.00000000 0.00 A-R 100.00 0.00 0.00000000 100.00 ------------- -------------- ---------- ------------- Totals 10,589,274.16 914,415,410.43 0.98855219 10,589,274.16 ------------- -------------- ---------- -------------
(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-1 500,000,000.00 1000.00000000 0.00000000 11.95073306 0.00000000 0.00000000 A-2 185,687,000.00 1000.00000000 0.00000000 7.80599864 0.00000000 0.00000000 A-3 196,500,000.00 1000.00000000 0.00000000 15.82167578 0.00000000 0.00000000 X-1 3,500,000.00 1000.00000000 0.00000000 15.82167714 0.00000000 0.00000000 X-2 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 15,725,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 9,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 5,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,313,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,313,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 4,166,584.59 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 1000.00000000 0.00000000 1000.00000000 0.00000000 0.00000000
Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------- ------- ---------- ------------ A-1 11.95073306 988.04926694 0.98804927 11.95073306 A-2 7.80599864 992.19400136 0.99219400 7.80599864 A-3 15.82165758 984.17832422 0.98417832 15.82167578 X-1 15.82167714 984.17832286 0.98417832 15.82167714 X-2 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 1000.00000000 0.00000000 0.00000000 1000.00000000
(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-1 500,000,000.00 2.79942% 500,000,000.00 1,166,424.77 0.00 A-2 185,687,000.00 1.61000% 185,687,000.00 174,391.04 0.00 A-3 196,500,000.00 2.16375% 196,500,000.00 248,019.84 0.00 X-1 3,500,000.00 2.30625% 3,500,000.00 4,708.59 0.00 X-2 0.00 1.36302% 385,687,000.00 438,081.28 0.00 X-B 0.00 1.37308% 24,975,000.00 28,577.22 0.00 B-1 15,725,000.00 1.83000% 15,725,000.00 16,786.44 0.00 B-2 9,250,000.00 2.21000% 9,250,000.00 11,924.79 0.00 B-3 5,550,000.00 2.75260% 5,550,000.00 12,730.77 0.00 B-4 2,313,000.00 2.75260% 2,313,000.00 5,305.63 0.00 B-5 2,313,000.00 2.75260% 2,313,000.00 5,305.63 0.00 B-6 4,166,584.59 2.75260% 4,166,584.59 9,557.44 0.00 A-R 100.00 2.79942% 100.00 0.23 0.00 -------------- ------------ ---- Totals 925,004,684.59 2,121,813.67 0.00 -------------- ------------ ----
Non- Remaining Ending Current 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 1,166,424.77 0.00 494,024,633.47 A-2 0.00 0.00 0.00 174,391.04 0.00 184,237,527.53 A-3 0.00 0.00 0.00 248,019.84 0.00 193,391,040.71 X-1 0.00 0.00 0.00 4,708.59 0.00 3,444,624.13 X-2 0.00 0.00 0.00 438,081.28 0.00 381,073,192.37 X-B 0.00 0.00 0.00 28,577.22 0.00 24,975,000.00 B-1 0.00 0.00 0.00 16,786.44 0.00 15,725,000.00 B-2 0.00 0.00 0.00 11,924.79 0.00 9,250,000.00 B-3 0.00 0.00 0.00 12,730.77 0.00 5,550,000.00 B-4 0.00 0.00 0.00 5,305.63 0.00 2,313,000.00 B-5 0.00 0.00 0.00 5,305.63 0.00 2,313,000.00 B-6 0.00 0.00 0.00 9,557.44 0.00 4,166,584.59 A-R 0.00 0.00 0.00 29.34 0.00 0.00 ---- ---- ---- ------------ ---- Totals 0.00 0.00 0.00 2,121,842.78 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-1 500,000,000.00 2.79942% 1000.00000000 2.33284954 0.00000000 A-2 185,687,000.00 1.61000% 1000.00000000 0.93916666 0.00000000 A-3 196,500,000.00 2.16375% 1000.00000000 1.26218748 0.00000000 X-1 3,500,000.00 2.30625% 1000.00000000 1.34531143 0.00000000 X-2 0.00 1.36302% 1000.00000000 1.13584663 0.00000000 X-B 0.00 1.37308% 1000.00000000 1.14423303 0.00000000 B-1 15,725,000.00 1.83000% 1000.00000000 1.06750016 0.00000000 B-2 9,250,000.00 2.21000% 1000.00000000 1.28916649 0.00000000 B-3 5,550,000.00 2.75260% 1000.00000000 2.29383243 0.00000000 B-4 2,313,000.00 2.75260% 1000.00000000 2.29383052 0.00000000 B-5 2,313,000.00 2.75260% 1000.00000000 2.29383052 0.00000000 B-6 4,166,584.59 2.75260% 1000.00000000 2.29383078 0.00000000 A-R 100.00 2.79942% 1000.00000000 2.30000000 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 2.33284954 0.00000000 988.04926694 A-2 0.00000000 0.00000000 0.00000000 0.93916666 0.00000000 992.19400136 A-3 0.00000000 0.00000000 0.00000000 1.26218748 0.00000000 984.17832422 X-1 0.00000000 0.00000000 0.00000000 1.34531143 0.00000000 984.17832286 X-2 0.00000000 0.00000000 0.00000000 1.13584663 0.00000000 988.03743027 X-B 0.00000000 0.00000000 0.00000000 1.14423303 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 0.00000000 1.06750016 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 0.00000000 1.28916649 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 0.00000000 2.29383243 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 0.00000000 2.29383052 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 0.00000000 2.29383052 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 0.00000000 2.29383078 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 293.40000000 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 13,001,163.03 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4,385.96 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 13,005,548.99 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 294,432.03 Payment of Interest and Principal 12,711,116.96 ------------- Total Withdrawals (Pool Distribution Amount) 13,005,548.99 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 289,421.59 Master Servicing Fee 5,010.44 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 294,432.03 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- Class X-A Pool 2 Comp Sub Account 4,500.00 0.00 0.00 4,500.00 Class X-A Pool 3 Comp Sub Account 4,500.00 0.00 0.00 4,500.00 Class X-B Sub Account 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 6 1,834,400.00 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 -------- ------------ -------- -------- -------- -------- 6 1,834,400.00 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 0.214977% 0.200609% 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% -------- ------------ -------- -------- -------- -------- 0.214977% 0.200609% 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 1,834,400.00 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 6 1,834,400.00 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 0.214977% 0.200609% 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% 0.214977% 0.200609%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4,385.96
Original $ Original% Current $ Current % Current Class % Prepayment % ---------- --------- --------- --------- --------------- ------------ Class A 39,317,584.59 4.25052816% 39,317,584.59 4.29975087% 95.700249% 0.000000% Class B-1 23,592,584.59 2.55053677% 23,592,584.59 2.58007294% 1.719678% 39.994827% Class B-2 14,342,584.59 1.55054183% 14,342,584.59 1.56849769% 1.011575% 23.526369% Class B-3 8,792,584.59 0.95054487% 8,792,584.59 0.96155254% 0.606945% 14.115821% Class B-4 6,479,584.59 0.70049208% 6,479,584.59 0.70860405% 0.252948% 5.882864% Class B-5 4,166,584.59 0.45043930% 4,166,584.59 0.45565555% 0.252948% 5.882864% Class B-6 0.00 0.00000000% 0.00% 0.00000000% 0.455656% 10.597255%
Please refer to the prospectus supplement for a full description of loss exposure 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 3 1,018,000.00 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 -------- ------------ -------- -------- -------- -------- 3 1,018,000.00 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 0.188206% 0.197203% 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% -------- ------------ -------- -------- -------- -------- 0.188206% 0.197203% 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 3 1,018,000.00 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 3 1,018,000.00 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 0.188206% 0.197203% 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% 0.188206% 0.197203%
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 1 344,400.00 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 -------- ------------ -------- -------- -------- -------- 1 344,400.00 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 0.185529% 0.178925% 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% -------- ------------ -------- -------- -------- -------- 0.185529% 0.178925% 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 1 344,400.00 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 1 344,400.00 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 0.185529% 0.178925% 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% 0.185529% 0.178925%
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------------------------------------------------------------------------------------------- GROUP 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 2 472,000.00 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 -------- ------------ -------- -------- -------- -------- 2 472,000.00 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 0.303951% 0.229445% 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% -------- ------------ -------- -------- -------- -------- 0.303951% 0.229445% 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 2 472,000.00 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 2 472,000.00 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 0.303951% 0.229445% 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% 0.303951% 0.229445%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.135147% Weighted Average Net Coupon 2.759683% Weighted Average Pass-Through Rate 2.752647% Weighted Average Maturity (Stepdown Calculation) 344 Beginning Scheduled Collateral Loan Count 2,811 Number of Loans Paid in Full 20 Ending Scheduled Collateral Loan Count 2,791 Beginning Scheduled Collateral Balance 925,004,684.59 Ending Scheduled Collateral Balance 914,415,410.43 Ending Actual Collateral Balance at 30-June-2004 914,415,642.75 Monthly P&I Constant 2,416,687.68 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 12,620,899.92 Scheduled Principal 0.00 Unscheduled Principal 10,589,274.16
MISCELLANEOUS REPORTING Rapid Prepayment Condition? NO
GROUP GROUP ONE GROUP TWO GROUP THREE TOTAL Collateral Description 6 Month LIBOR ARM Mixed ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 3.181783 2.979325 3.163228 3.135147 Weighted Average Net Rate 2.806493 2.603825 2.787361 2.759683 Pass-Through Rate 2.799486 2.596375 2.780641 2.752647 Weighted Average Maturity 345 340 345 344 Record Date 06/30/2004 06/30/2004 06/30/2004 06/30/2004 Principal and Interest Constant 1,384,590.70 481,489.42 550,607.56 2,416,687.68 Beginning Loan Count 1,606 539 663 2,808 Loans Paid in Full 12 0 5 17 Ending Loan Count 1,594 539 658 2,791 Beginning Scheduled Balance 522,194,255.82 193,932,312.64 208,878,116.13 925,004,684.59 Ending Scheduled Balance 516,218,789.29 192,482,840.17 205,713,780.97 914,415,410.43 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 5,975,466.53 1,449,472.47 3,164,335.16 10,589,274.16 Scheduled Interest 1,384,590.70 481,489.42 550,607.56 2,416,687.68 Servicing Fee 163,311.78 60,684.55 65,425.26 289,421.59 Master Servicing Fee 2,828.55 1,050.47 1,131.42 5,010.44 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 220.77 153.56 38.29 412.62 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 1,218,229.60 419,600.84 484,012.59 2,121,843.30 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 One Pro-Rata Senior Percent 95.749828% Senior Percent 100.000000% Senior Prepay Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepay Percent 0.000000% Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Group Two Pro-Rata Senior Percent 95.748355% Senior Percent 100.000000% Senior Prepay Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepay Percent 0.000000% Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Group Three Pro-Rata Senior Percent 95.749619% Senior Percent 100.000000% Senior Prepay Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepay Percent 0.000000% Interest Transfer Amount 0.00 Principal Transfer Amount 0.00