SMT Series 2004-7 Certificateholder Distribution Statement by Wells Fargo Bank Minnesota, N.A.

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. for certificateholders of the SMT Series 2004-7 as of December 31, 2004. It details the principal and interest distributions made to holders of various classes of certificates, including senior, subordinate, and residual classes. The statement outlines the beginning and ending balances, distribution amounts, and rates for each class, as well as confirms that all distributions were calculated in accordance with the Pooling and Servicing Agreement. No realized losses are reported for this period.

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EX-10.1 2 f05544hexv10w1.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 2004-7 RECORD DATE: DECEMBER 31, 2004 DISTRIBUTION DATE: JANUARY 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Class CUSIP Description Rate Certificate Balance Distribution - ------ --------- ----------- ------------ ------------------- ------------ A-1 81744FCV7 SEN 3.33743% 471,469,368.89 1,311,247.38 A-2 81744FCW5 SEN 2.72000% 235,599,676.52 534,025.93 A-3-A 81744FCX3 SEN 2.28500% 231,820,388.01 441,424.66 A-3-B 81744FDH7 SEN 2.51000% 3,699,788.82 7,738.72 X-A 81744FCY1 IO 0.87326% 0.00 342,886.99 X-B 81744FCZ8 IO 0.25392% 0.00 6,337.31 B-1 81744FDB0 SUB 2.96000% 18,900,000.00 46,620.00 B-2 81744FDC8 SUB 3.35000% 11,025,000.00 30,778.12 B-3 81744FDD6 SUB 3.35760% 6,300,000.00 17,627.41 B-4 81744FDE4 SUB 3.35760% 3,150,000.00 8,813.70 B-5 81744FDF1 SUB 3.35760% 2,625,000.00 7,344.75 B-6 81744FDG9 SUB 3.35760% 5,250,582.74 14,691.14 A-R 81744FDA2 RES 2.97735% 0.00 0.00 -------------- ------------ Totals 989,839,804.98 2,769,536.11 ============== ============
Principal Current Ending Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ------ ------------- ------------- ------------------ ------------- ------------- A-1 13,052,852.66 0.00 458,416,516.23 14,364,100.04 0.00 A-2 4,834,827.33 0.00 230,764,849.19 5,368,853.26 0.00 A-3-A 6,360,396.97 0.00 225,459,991.04 6,801,821.63 0.00 A-3-B 101,510.16 0.00 3,598,278.66 109,248.88 0.00 X-A 0.00 0.00 0.00 342,886.99 0.00 X-B 0.00 0.00 0.00 6,337.31 0.00 B-1 0.00 0.00 18,900,000.00 46,620.00 0.00 B-2 0.00 0.00 11,025,000.00 30,778.12 0.00 B-3 0.00 0.00 6,300,000.00 17,627.41 0.00 B-4 0.00 0.00 3,150,000.00 8,813.70 0.00 B-5 0.00 0.00 2,625,000.00 7,344.75 0.00 B-6 0.00 0.00 5,250,582.74 14,691.14 0.00 A-R 0.00 0.00 0.00 0.00 0.00 ------------- ---- -------------- ------------- ---- Totals 24,349,587.12 0.00 965,490,217.86 27,119,123.23 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-1 498,828,000.00 471,469,368.89 0.00 13,052,582.66 0.00 0.00 A-2 252,102,000.00 235,599,676.52 0.00 4,834,827.33 0.00 0.00 A-3-A 247,874,000.00 231,820,388.01 0.00 6,360,396.97 0.00 0.00 A-3-B 3,956,000.00 3,699,788.82 0.00 101,510.16 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 18,900,000.00 18,900,000.00 0.00 0.00 0.00 0.00 B-2 11,025,000.00 11,025,000.00 0.00 0.00 0.00 0.00 B-3 6,300,000.00 6,300,000.00 0.00 0.00 0.00 0.00 B-4 3,150,000.00 3,150,000.00 0.00 0.00 0.00 0.00 B-5 2,625,000.00 2,625,000.00 0.00 0.00 0.00 0.00 B-6 5,250,582.74 5,250,582.74 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 ---------------- -------------- ---- ------------- ---- ---- Totals 1,050,010,682.74 989,839,804.98 0.00 24,349,587.12 0.00 0.00 ================ ============== ==== ============= ==== ====
Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ------ --------------- ------------------ ------------------ --------------- A-1 13,052,852.66 458,416,516.23 0.91898714 13,052,852.66 A-2 4,834,827.33 230,764,849.19 0.91536302 4,834,827.33 A-3-A 6,360,396.97 225,459,991.04 0.90957499 6,360,396.97 A-3-B 101,510.16 3,598,278.66 0.90957499 101,510.16 X-A 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-1 0.00 18,900,000.00 1.00000000 0.00 B-2 0.00 11,025,000.00 1.00000000 0.00 B-3 0.00 6,300,000.00 1.00000000 0.00 B-4 0.00 3,150,000.00 1.00000000 0.00 B-5 0.00 2,625,000.00 1.00000000 0.00 B-6 0.00 5,250,582.74 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ------------- -------------- ---------- ------------- Totals 24,349,587.12 965,490,217.86 0.91950514 24,349,587.12 ============= ============== ========== =============
(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-1 498,828,000.00 945.15417918 0.00000000 26.16704086 0.00000000 0.00000000 A-2 252,102,000.00 934.54108464 0.00000000 19.17806019 0.00000000 0.00000000 A-3-A 247,874,000.00 935.23478868 0.00000000 25.65979881 0.00000000 0.00000000 A-3-B 3,956,000.00 935.23478766 0.00000000 25.65979778 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 18,900,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 11,025,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 5,250,582.74 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 Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------------- ------------------ ------------------ --------------- A-1 26.16704086 918.98713831 0.91898714 26.16704086 A-2 19.17806019 915.36302445 0.91536302 19.17806019 A-3-A 25.65979881 909.57498987 0.90957499 25.65979881 A-3-B 25.65979778 909.57498989 0.90957499 25.65979778 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 Certificate/ Current Unpaid Current Non-Supported Original Face Current Notional Accrued Interest Interest Interest Realized Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------ ---------------- ---------------- -------------- ------------ ---------- --------- ------------- -------- A-1 498,828,000.00 3.33743% 471,469,368.89 1,311,247.38 0.00 0.00 0.00 0.00 A-2 252,102,000.00 2.72000% 235,599,676.52 534,025.93 0.00 0.00 0.00 0.00 A-3-A 247,874,000.00 2.28500% 231,820,388.01 441,424.66 0.00 0.00 0.00 0.00 A-3-B 3,956,000.00 2.51000% 3,699,788.82 7,738.72 0.00 0.00 0.00 0.00 X-A 0.00 0.87326% 471,119,853.35 342,839.76 0.00 0.00 0.00 0.00 X-B 0.00 0.25392% 29,925,000.00 6,332.06 0.00 0.00 0.00 0.00 B-1 18,900,000.00 2.96000% 18,900,000.00 46,620.00 0.00 0.00 0.00 0.00 B-2 11,025,000.00 3.35000% 11,025,000.00 30,778.13 0.00 0.00 0.00 0.00 B-3 6,300,000.00 3.35760% 6,300,000.00 17,627.41 0.00 0.00 0.00 0.00 B-4 3,150,000.00 3.35760% 3,150,000.00 8,813.70 0.00 0.00 0.00 0.00 B-5 2,625,000.00 3.35760% 2,625,000.00 7,344.75 0.00 0.00 0.00 0.00 B-6 5,250,582.74 3.35760% 5,250,582.74 14,691.14 0.00 0.00 0.00 0.00 A-R 100.00 2.97735% 0.00 0.00 0.00 0.00 0.00 0.00 ---------------- ------------ ---- ---- ---- ---- Totals 1,050,010,682.74 2,769,483.64 0.00 0.00 0.00 0.00 ================ ============ ==== ==== ==== ====
Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------ -------------- --------- -------------- A-1 1,311,247.38 0.00 458,416,516.23 A-2 534,025.93 0.00 230,764,849.19 A-3-A 441,424.66 0.00 225,459,991.04 A-3-B 7,738.72 0.00 3,598,278.66 X-A 342,886.99 0.00 459,823,118.89 X-B 6,337.31 0.00 29,925,000.00 B-1 46,620.00 0.00 18,900,000.00 B-2 30,778.12 0.00 11,025,000.00 B-3 17,627.41 0.00 6,300,000.00 B-4 8,813.70 0.00 3,150,000.00 B-5 7,344.75 0.00 2,625,000.00 B-6 14,691.14 0.00 5,250,582.74 A-R 0.00 0.00 0.00 ------------- ---- Totals 2,769,536.11 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 Current Non-Supported Class Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ----- -------------- ----------- ---------------- --------------- ---------- ---------- ------------- ---------- A-1 498,828,000.00 3.33743% 945.15417918 2.62865633 0.00000000 0.00000000 0.00000000 0.00000000 A-2 252,102,000.00 2.72000% 934.54108464 2.11829311 0.00000000 0.00000000 0.00000000 0.00000000 A-3-A 247,874,000.00 2.28500% 935.23478868 1.78084293 0.00000000 0.00000000 0.00000000 0.00000000 A-3-B 3,956,000.00 2.51000% 935.23478766 1.95619818 0.00000000 0.00000000 0.00000000 0.00000000 X-A 0.00 0.87326% 934.88774944 0.68032941 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.25392% 1000.00000000 0.21159766 0.00000000 0.00000000 0.00000000 0.00000000 B-1 18,900,000.00 2.96000% 1000.00000000 2.46666667 0.00000000 0.00000000 0.00000000 0.00000000 B-2 11,025,000.00 3.35000% 1000.00000000 2.79166712 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,300,000.00 3.35760% 1000.00000000 2.79800159 0.00000000 0.00000000 0.00000000 0.00000000 B-4 3,150,000.00 3.35760% 1000.00000000 2.79800000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,625,000.00 3.35760% 1000.00000000 2.79800000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 5,250,582.74 3.35760% 1000.00000000 2.79800181 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.97735% 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 2.62865633 0.00000000 918.98713831 A-2 2.11829311 0.00000000 915.36302445 A-3-A 1.78084293 0.00000000 909.57498987 A-3-B 1.95619818 0.00000000 909.57498989 X-A 0.68042313 0.00000000 912.47056922 X-B 0.21177310 0.00000000 1000.00000000 B-1 2.46666667 0.00000000 1000.00000000 B-2 2.79166621 0.00000000 1000.00000000 B-3 2.79800159 0.00000000 1000.00000000 B-4 2.79800000 0.00000000 1000.00000000 B-5 2.79800000 0.00000000 1000.00000000 B-6 2.79800181 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000
(5) Per $1 denomination (6) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 27,443,042.08 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 41,552.55 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 27,484,594.63 Withdrawals Reimbursement for Servicer Advances 50,266.99 Payment of Service Fee 315,204.41 Payment of Interest and Principal 27,119,123.23 ------------- Total Withdrawals (Pool Distribution Amount) 27,484,594.63 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 310,667.64 Master Servicing Fee 4,536.77 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 315,204.41 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ --------- ----------- -------- -------- Reserve Fund 4,500.00 23.62 23.62 4,500.00 Reserve Fund 4,500.00 23.62 23.62 4,500.00 Reserve Fund 1,000.00 5.25 5.25 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 35 12,263,205.35 30 Days 0 0.00 30 Days 0 0.00 60 Days 3 1,062,600.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 385,500.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 1 540,000.00 120 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 5,768,215.95 0 0.00 0 0.00 == ============= == ==== == ====
REO TOTAL - ------------------------------- ---------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance ------ --------- ------ ------------- 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 35 12,263,205.35 60 Days 0 0.00 60 Days 3 1,062,600.00 90 Days 0 0.00 90 Days 1 385,500.00 120 Days 0 0.00 120 Days 1 540,000.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -- ---- -- ------------- 0 0.00 18 5,768,215.95 == ==== == =============
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance -------- --------- -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 1.188455% 1.270146% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.101868% 0.110057% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.033956% 0.039928% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.033956% 0.055930% 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% -------- -------- -------- -------- -------- -------- 1.358234% 1.476061% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- -------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.188455% 1.270146% 60 Days 0.000000% 0.000000% 60 Days 0.101868% 0.110057% 90 Days 0.000000% 0.000000% 90 Days 0.033956% 0.039928% 120 Days 0.000000% 0.000000% 120 Days 0.033956% 0.055930% 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% 1.358234% 1.476061% ======== ======== ======== ========
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 41,552.55
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 47,250,582.74 4.50000972% 47,250,582.74 4.89394733% 95.106053% 0.000000% Class B-1 28,350,582.74 2.70002803% 28,350,582.74 2.93639254% 1.957555% 39.999507% Class B-2 17,325,582.74 1.65003871% 17,325,582.74 1.79448558% 1.141907% 23.333046% Class B-3 11,025,582.74 1.05004482% 11,025,582.74 1.14196732% 0.652518% 13.333169% Class B-4 7,875,582.74 0.75004787% 7,875,582.74 0.81570819% 0.326259% 6.666584% Class B-5 5,250,582.74 0.50005041% 5,250,582.74 0.54382558% 0.271883% 5.555487% Class B-6 0.00 0.00000000% 0.00 0.0000000% 0.543826% 11.112207%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP
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 16 4,806,715.95 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 576,000.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 385,500.00 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 -- ------------- -- ---- -- ---- 40 14,251,305.35 0 0.00 0 0.00 == ============= == ==== == ====
REO TOTAL - ------------------------------ ---------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance ------ --------- ------ ------------- 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 16 4,806,715.95 60 Days 0 0.00 60 Days 1 576,000.00 90 Days 0 0.00 90 Days 1 385,500.00 120 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 40 14,251,305.35 == ==== == =============
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance -------- --------- -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 1.100413% 0.997405% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.068776% 0.119521% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.068776% 0.079992% 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% -------- -------- -------- -------- -------- -------- 1.237964% 1.196918% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- ------------------------------------ No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- ------------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.100413% 0.997405% 60 Days 0.000000% 0.000000% 60 Days 0.068776% 0.119521% 90 Days 0.000000% 0.000000% 90 Days 0.068776% 0.079992% 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% 1.237964% 1.196918% ======== ======== ======== ========
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 14 5,456,650.40 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 385,000.00 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 5,841,650.40 0 0.00 0 0.00 == ============ == ==== == ====
REO TOTAL - -------------------------------- ----------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- ------------ 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 14 5,456,650.40 60 Days 0 0.00 60 Days 1 385,000.00 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 5,841,650.40 == ==== == ============
DELINQUENT BANKRUPTCY FORECLOSURE - ----------------------------------- -------------------------------- -------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance -------- ------------ -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 1.994302% 2.248826% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.142450% 0.158668% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- -------- -------- 2.136752% 2.407494% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- ----------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- ------------ 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.994302% 2.248826% 60 Days 0.000000% 0.000000% 60 Days 0.142450% 0.158668% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 2.136752% 2.407494% ======== ======== ======== ========
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 5 1,999,839.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 101,600.00 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 1 540,000.00 120 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 -- ------------ -- ---- -- ---- 7 2,641,439.00 0 0.00 0 0.00 == ============ == ==== == ====
REO TOTAL - ------------------------------ --------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance ------ --------- ------ ------------ 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 5 1,999,839.00 60 Days 0 0.00 60 Days 1 101,600.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 1 540,000.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -- ---- -- ------------ 0 0.00 7 2,641,439.00 == ==== == ============
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- --------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance -------- --------- -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.633714% 0.830054% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.126743% 0.042170% 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 0.126743% 0.224133% 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% -------- -------- --------- -------- -------- -------- 0.887199% 1.096356% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- --------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.633714% 0.830054% 60 Days 0.000000% 0.000000% 60 Days 0.126743% 0.042170% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.126743% 0.224133% 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% 0.887199% 1.096356% ======== ======== ======== ========
COLLATERAL STATEMENT
Collateral Description Mixed Arm - ------------------------------------------------ -------------- Weighted Average Gross Coupon 3.739622% Weighted Average Net Coupon 3.362994% Weighted Average Pass-Through Rate 3.357494% Weighted Average Maturity (Stepdown Calculation) 337 Beginning Scheduled Collateral Loan Count 2,994 Number of Loans Paid in Full 49 Ending Scheduled Collateral Loan Count 2,945 Beginning Scheduled Collateral Balance 989,839,804.98 Ending Scheduled Collateral Balance 965,490,217.86 Ending Actual Collateral Balance at 31-Dec-2004 965,495,521.51 Monthly P&I Constant 3,084,688.68 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 26,986,863.57 Scheduled Principal 0.00 Unscheduled Principal 24,349,587.12
MISCELLANEOUS REPORTING Rapid Prepayment Event 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 3.719770 3.783353 3.735594 3.739622 Weighted Average Net Rate 3.342933 3.407234 3.358876 3.362994 Pass-Through Rate 3.337433 3.401734 3.353376 3.357494 Weighted Average Maturity 336 334 342 337 Record Date 12/31/2004 12/31/2004 12/31/2004 12/31/2004 Principal and Interest Constant 1,534,325.77 780,248.42 770,114.49 3,084,688.68 Beginning Loan Count 1,477 713 804 2,994 Loans Paid in Full 23 11 15 49 Ending Loan Count 1,454 702 789 2,945 Beginning Scheduled Balance 494,974,375.42 247,478,408.49 247,387,021.07 989,839,804.98 Ending Scheduled Balance 481,921,522.76 242,643,581.16 240,925,113.94 965,490,217.86 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 13,052,852.66 4,834,827.33 6,461,907.13 24,349,587.12 Scheduled Interest 1,534,325.77 780,248.42 770,114.49 3,084,688.68 Servicing Fee 155,437.46 77,567.66 77,662.52 310,667.64 Master Servicing Fee 2,268.63 1,134.28 1,133.86 4,536.77 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 1,376,619.68 701,546.48 691,318.11 2,769,484.27 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 Principal Transfer Amount 0.00 Pro-Rata Senior Percent 95.251268% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Interest Transfer Amount 0.00 Group Two One-Month LIBOR Loan Balance 168,847,994.28 Six-Month LIBOR Loan Balance 73,795,586.88 Principal Transfer Amount 0.00 Pro-Rata Senior Percent 95.200094% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Interest Transfer Amount 0.00 Group Three Principal Transfer Amount 0.00 Pro-Rate Senior Percent 95.203126% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Interest Transfer Amount 0.00