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

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Summary

This document is a distribution statement for certificateholders of the SMT Series 2004-7, prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator. It details the interest and principal payments made to holders of various classes of certificates as of March 31, 2005, with distributions occurring on April 20, 2005. The statement summarizes the beginning and ending balances, interest rates, and payment amounts for each class, confirming 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 f08876bexv10w1.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: MARCH 31, 2005 DISTRIBUTION DATE: APRIL 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Current Class CUSIP Description Rate Balance Distribution Distribution Realized Loss ----- ----- ----------- ------------ ------- ------------ ------------ ------------- A-1 81744FCV7 SEN 3.84494% 436,485,253.82 1,398,551.02 16,444,194.87 0.00 A-2 81744FCW5 SEN 3.16000% 222,201,618.42 585,130.93 10,977,097.89 0.00 A-3-A 81744FCX3 SEN 3.22750% 209,855,197.74 564,423.04 7,700,560.83 0.00 A-3-B 81744FDH7 SEN 3.45250% 3,349,230.51 9,636.02 122,898.81 0.00 X-A 81744FCY1 IO 0.74484% 0.00 270,256.04 0.00 0.00 X-B 81744FCZ8 IO 0.34824% 0.00 8,684.33 0.00 0.00 B-1 81744FDB0 SUB 3.40000% 18,900,000.00 53,550.00 0.00 0.00 B-2 81744FDC8 SUB 3.79000% 11,025,000.00 34,820.63 0.00 0.00 B-3 81744FDD6 SUB 3.89193% 6,300,000.00 20,432.62 0.00 0.00 B-4 81744FDE4 SUB 3.89193% 3,150,000.00 10,216.30 0.00 0.00 B-5 81744FDF1 SUB 3.89193% 2,625,000.00 8,513.59 0.00 0.00 B-6 81744FDG9 SUB 3.89193% 5,250,582.74 17,029.07 0.00 0.00 A-R 81744FDA2 RES 3.37594% 0.00 0.81 0.00 0.00 ------- -------------- ------------ ------------- ---- Totals 919,141,883.23 2,981,244.41 35,244,752.40 0.00 ------- -------------- ------------ ------------- ---- Ending Certificate Total Cumulative Class Balance Distribution Realized Loss ----- ------- ------------ ------------- A-1 420,041,058.95 17,842,745.89 0.00 A-2 211,224,520.53 11,562,228.82 0.00 A-3-A 202,154,636.91 8,264,983.87 0.00 A-3-B 3,226,331.70 132,534.83 0.00 X-A 0.00 270,256.04 0.00 X-B 0.00 8,684.33 0.00 B-1 18,900,000.00 53,550.00 0.00 B-2 11,025,000.00 34,820.63 0.00 B-3 6,300,000.00 20,432.62 0.00 B-4 3,150,000.00 10,216.31 0.00 B-5 2,625,000.00 8,513.59 0.00 B-6 5,250,582.74 17,029.07 0.00 A-R 0.00 0.81 0.00 -------------- ------------- ---- Totals 883,897,130.83 38,225,996.81 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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction ----- ------ ------- ------------ ------------ --------- -------- --------- A-1 498,828,000.00 436,485,253.82 0.00 16,444,198.87 0.00 0.00 16,444,194.87 A-2 252,102,000.00 222,201,618.42 0.00 10,977,097.89 0.00 0.00 10,977,097.89 A-3-A 247,874,000.00 209,855,197.74 0.00 7,700,560.83 0.00 0.00 7,700,560.83 A-3-B 3,956,000.00 3,349,230.51 0.00 122,898.81 0.00 0.00 122,898.81 X-A 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 18,900,000.00 18,900,000.00 0.00 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 0.00 B-3 6,300,000.00 6,300,000.00 0.00 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 0.00 B-5 2,625,000.00 2,625,000.00 0.00 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 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 ---------------- -------------- ---- ------------- ---- ---- ------------- Totals 1,050,010,682.74 919,141,883.23 0.00 35,244,752.40 0.00 0.00 35,244,752.40 ---------------- -------------- ---- ------------- ---- ---- ------------- Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution ----- ------- ---------- ------------ A-1 420,041,058.95 0.84205590 16,444,194.87 A-2 211,224,520.53 0.83785341 10,977,097.89 A-3-A 202,154,636.91 0.81555402 7,700,560.83 A-3-B 3,226,331.70 0.81555402 122,898.81 X-A 0.00 0.00000000 0.00 X-B 0.00 0.00000000 0.00 B-1 18,900,000.00 1.00000000 0.00 B-2 11,025,000.00 1.00000000 0.00 B-3 6,300,000.00 1.00000000 0.00 B-4 3,150,000.00 1.00000000 0.00 B-5 2,625,000.00 1.00000000 0.00 B-6 5,250,582.74 1.00000000 0.00 A-R 0.00 0.00000000 0.00 -------------- ---------- ------------- Totals 883,897,130.83 0.84179823 35,244,752.40 -------------- ---------- -------------
(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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction - ----- ------ ------- ------------ ------------ --------- -------- --------- A-1 498,828,000.00 875.02155817 0.00000000 32.96566125 0.00000000 0.00000000 32.96566125 A-2 252,102,000.00 881.39569865 0.00000000 43.54228800 0.00000000 0.00000000 43.54228800 A-3-A 247,874,000.00 846.62045128 0.00000000 31.06643226 0.00000000 0.00000000 31.06643226 A-3-B 3,956,000.00 846.62045248 0.00000000 31.06643327 0.00000000 0.00000000 31.06643327 X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 18,900,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 11,025,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 5,250,582.74 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution - ----- ------- ---------- ------------ A-1 842.05589692 0.84205590 32.96566125 A-2 837.85341064 0.83785341 43.54228800 A-3-A 815.55401902 0.81555402 31.06643226 A-3-B 815.55401921 0.81555402 31.06643327 X-A 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 0.00000000 B-2 1000.00000000 1.00000000 0.00000000 B-3 1000.00000000 1.00000000 0.00000000 B-4 1000.00000000 1.00000000 0.00000000 B-5 1000.00000000 1.00000000 0.00000000 B-6 1000.00000000 1.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
Payment of Current Beginning Current Unpaid Current Non-Supported Original Face Certificate Certificate/ Accrued Interest Interest Interest Class Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall - ----- ------ ---- ---------------- -------- --------- --------- --------- A-1 498,828,000.00 3.84494% 436,485,253.82 1,398,551.02 0.00 0.00 0.00 A-2 252,102,000.00 3.16000% 222,201,618.42 585,130.93 0.00 0.00 0.00 A-3-A 247,874,000.00 3.22750% 209,855,197.74 564,423.04 0.00 0.00 0.00 A-3-B 3,956,000.00 3.45250% 3,349,230.51 9,636.02 0.00 0.00 0.00 X-A 0.00 0.74484% 435,406,046.67 270,256.04 0.00 0.00 0.00 X-B 0.00 0.34824% 29,925,000.00 8,684.33 0.00 0.00 0.00 B-1 18,900,000.00 3.40000% 18,900,000.00 53,550.00 0.00 0.00 0.00 B-2 11,025,000.00 3.79000% 11,025,000.00 34,820.63 0.00 0.00 0.00 B-3 6,300,000.00 3.89193% 6,300,000.00 20,432.62 0.00 0.00 0.00 B-4 3,150,000.00 3.89193% 3,150,000.00 10,216.31 0.00 0.00 0.00 B-5 2,625,000.00 3.89193% 2,625,000.00 8,513.59 0.00 0.00 0.00 B-6 5,250,582.74 3.89193% 5,250,582.74 17,029.07 0.00 0.00 0.00 A-R 100.00 3.37594% 0.00 0.00 0.00 0.00 0.00 ---------------- ------- -------------- ------------- ---- ---- ---- Totals 1,050,010,682.74 2,981,243.60 0.00 0.00 0.00 ---------------- ------- -------------- ------------- ---- ---- ---- Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - ----- -------- ------------ --------- ------- A-1 0.00 1,398,551.02 0.00 420,041,058.95 A-2 0.00 585,130.93 0.00 211,224,520.53 A-3-A 0.00 564,423.04 0.00 202,154,636.91 A-3-B 0.00 9,636.02 0.00 3,226,331.70 X-A 0.00 270,256.04 0.00 416,605,489.14 X-B 0.00 8,684.33 0.00 29,925,000.00 B-1 0.00 53,550.00 0.00 18,900,000.00 B-2 0.00 34,820.63 0.00 11,025,000.00 B-3 0.00 20,432.62 0.00 6,300,000.00 B-4 0.00 10,216.31 0.00 3,150,000.00 B-5 0.00 8,513.59 0.00 2,625,000.00 B-6 0.00 17,029.07 0.00 5,250,582.74 A-R 0.00 0.81 0.00 0.00 ---- ------------ ---- -------------- Totals 0.00 2,981,244.41 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 Current Unpaid Current Non-Supported Class Original Face Certificate Certificate/ Accrued Interest Interest Interest (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall - ----- ------ ---- ---------------- -------- --------- --------- --------- A-1 498,828,000.00 3.84494% 875.02155817 2.80367385 0.00000000 0.00000000 0.00000000 A-2 252,102,000.00 3.16000% 881.39569865 2.32100868 0.00000000 0.00000000 0.00000000 A-3-A 247,874,000.00 3.22750% 846.62045128 2.27705625 0.00000000 0.00000000 0.00000000 A-3-B 3,956,000.00 3.45250% 846.62045248 2.43579879 0.00000000 0.00000000 0.00000000 X-A 0.00 0.74484% 864.01746003 0.53629466 0.00000000 0.00000000 0.00000000 X-B 0.00 0.34824% 1000.00000000 0.29020317 0.00000000 0.00000000 0.00000000 B-1 18,900,000.00 3.40000% 1000.00000000 2.83333333 0.00000000 0.00000000 0.00000000 B-2 11,025,000.00 3.79000% 1000.00000000 3.15833379 0.00000000 0.00000000 0.00000000 B-3 6,300,000.00 3.89193% 1000.00000000 3.24327302 0.00000000 0.00000000 0.00000000 B-4 3,150,000.00 3.89193% 1000.00000000 3.24327302 0.00000000 0.00000000 0.00000000 B-5 2,625,000.00 3.89193% 1000.00000000 3.24327238 0.00000000 0.00000000 0.00000000 B-6 5,250,582.74 3.89193% 1000.00000000 3.24327238 0.00000000 0.00000000 0.00000000 A-R 100.00 3.37594% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (6) Distribution Shortfall Balance - ----- -------- ------------ --------- ------- A-1 0.00000000 2.80367385 0.00000000 842.05589692 A-2 0.00000000 2.32100868 0.00000000 837.85341064 A-3-A 0.00000000 2.27705625 0.00000000 815.55401902 A-3-B 0.00000000 2.43579879 0.00000000 815.55401921 X-A 0.00000000 0.53629466 0.00000000 826.70973294 X-B 0.00000000 0.29020317 0.00000000 1000.00000000 B-1 0.00000000 2.83333333 0.00000000 1000.00000000 B-2 0.00000000 3.15833379 0.00000000 1000.00000000 B-3 0.00000000 3.24327302 0.00000000 1000.00000000 B-4 0.00000000 3.24327302 0.00000000 1000.00000000 B-5 0.00000000 3.24327238 0.00000000 1000.00000000 B-6 0.00000000 3.24327238 0.00000000 1000.00000000 A-R 0.00000000 8.10000000 0.00000000 0.00000000
(5) Per $1 denomination (6) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 38,518,750.10 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 38,518,750.10 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 292,753.29 Payment of Interest and Principal 38,225,996.81 ------------- Total Withdrawals (Pool Distribution Amount) 38,518,750.10 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 288,540.55 Master Servicing Fee 4,212.74 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 292,753.29 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ ------- ----------- -------- ------- Reserve Fund 4,500.00 0.00 0.00 4,500.00 Reserve Fund 4,500.00 0.00 0.00 4,500.00 Reserve Fund 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 20 6,029,704.88 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 908,000.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 100,700.00 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 1 101,600.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- ------------ -------- -------- -------- -------- 24 7,140,004.88 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 0.726744% 0.682162% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.072674% 0.102725% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.036337% 0.011393% 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 0.036337% 0.011494% 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% -------- ------------ -------- -------- -------- -------- 0.872093% 0.807774% 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 20 6,029,704.88 60 Days 0 0.00 60 Days 2 908,000.00 90 Days 0 0.00 90 Days 1 100,700.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 1 101,600.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- ------- ------------ 0 0.00 24 7,140,004.88 -------- -------- ------- ------------ 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 0.726744% 0.682162% 60 Days 0.000000% 0.000000% 60 Days 0.072674% 0.102725% 90 Days 0.000000% 0.000000% 90 Days 0.036337% 0.011393% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.036337% 0.011494% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- ------- ------------ 0.000000% 0.000000% 0.872093% 0.807774% -------- -------- ------- ------------
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Original $ Original % Current $ Current % Current Class % Prepayment % ------------- ----------- ------------- ----------- --------------- ------------ Class A 47,250,582.74 4.50000972% 47,250,582.74 5.34571061% 94.654289% 0.000000% Class B-1 28,350,582.74 2.70002803% 28,350,582.74 3.20745274% 2.138258% 39.999507% Class B-2 17,325,582.74 1.65003871% 17,325,582.74 1.96013565% 1.247317% 23.333046% Class B-3 11,025,582.74 1.05004482% 11,025,582.74 1.24738302% 0.712753% 13.333169% Class B-4 7,875,582.74 0.75004787% 7,875,582.74 0.89100671% 0.356376% 6.666584% Class B-5 5,250,582.74 0.50005041% 5,250,582.74 0.59402645% 0.296980% 5.555487% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.594026% 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 GROUP ONE 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 3,466,979.42 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 740,000.00 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 -------- ------------ -------- -------- -------- -------- 12 4,206,979.42 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 0.807636% 0.781645% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.073421% 0.166836% 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% -------- ------------ -------- -------- -------- -------- 0.881057% 0.948481% 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 3,466,979.42 60 Days 0 0.00 60 Days 1 740,000.00 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 12 4,206,979.42 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 0.807636% 0.781645% 60 Days 0.000000% 0.000000% 60 Days 0.073421% 0.166836% 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% 0.881057% 0.948481% -------- -------- -------- ------------
DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------------- ------------------------------- -------------------------------- 1.183654% No. of Principal No. of Principal No. of Principal GROUP TWO 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 2,185,467.69 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 168,000.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 100,700.00 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 -------- ------------ -------- -------- -------- -------- 8 2,454,167.69 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 0.917431% 0.979563% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.152905% 0.075300% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.152905% 0.045135% 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% -------- ------------ -------- -------- -------- -------- 1.223242% 1.099999% 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 2,185,467.69 60 Days 0 0.00 60 Days 1 168,000.00 90 Days 0 0.00 90 Days 1 100,700.00 120 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 8 2,454,167.69 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 0.917431% 0.979563% 60 Days 0.000000% 0.000000% 60 Days 0.152905% 0.075300% 90 Days 0.000000% 0.000000% 90 Days 0.152905% 0.045135% 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% 1.223242% 1.099999% -------- -------- -------- ------------
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 3 377,257.77 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 1 101,600.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- ---------- -------- -------- -------- -------- 4 478,857.77 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 0.407609% 0.173647% 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 0.135870% 0.046765% 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% -------- ---------- -------- -------- -------- -------- 0.543478% 0.220412% 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 16 4,621,544.47 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 1 101,600.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- ------------ 0 0.00 17 4,723,144.47 -------- -------- -------- ------------ 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 0.407609% 0.173647% 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 0.135870% 0.046765% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- ------------ 0.000000% 0.000000% 0.543478% 0.220412% -------- -------- -------- ------------
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 4.274418% Weighted Average Net Coupon 3.897710% Weighted Average Pass-Through Rate 3.892210% Weighted Average Maturity (Stepdown Calculation) 334 Beginning Scheduled Collateral Loan Count 2,838 Number of Loans Paid in Full 86 Ending Scheduled Collateral Loan Count 2,752 Beginning Scheduled Collateral Balance 919,141,883.23 Ending Scheduled Collateral Balance 883,897,130.83 Ending Actual Collateral Balance at 31-Mar-2005 883,910,975.87 Monthly P&I Constant 3,273,997.37 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 38,072,749.44 Scheduled Principal 0.00 Unscheduled Principal 35,244,752.40
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 4.227410 4.378745 4.261988 4.274418 Weighted Average Net Rate 3.850445 4.002713 3.885101 3.897710 Pass-Through Rate 3.844945 3.997213 3.879601 3.892210 Weighted Average Maturity 333 331 339 334 Record Date 03/31/2005 03/31/2005 03/31/2005 03/31/2005 Principal and Interest Constant 1,620,472.91 854,148.55 799,375.91 3,273,997.37 Beginning Loan Count 1,405 678 755 2,838 Loans Paid in Full 43 24 19 86 Ending Loan Count 1,362 654 736 2,752 Beginning Scheduled Balance 459,990,260.35 234,080,350.39 225,071,272.49 919,141,883.23 Ending Scheduled Balance 443,546,065.48 223,103,252.50 217,247,812.85 883,897,130.83 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 16,444,194.87 10,977,097.89 7,823,459.64 35,244,752.40 Scheduled Interest 1,620,472.91 854,148.55 799,375.91 3,273,997.37 Servicing Fee 144,500.38 73,351.54 70,688.63 288,540.55 Master Servicing Fee 2,108.29 1,072.87 1,031.58 4,212.74 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 1,473,864.24 779,724.14 727,655.70 2,981,244.08 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 94.890108% 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 162,404,718.66 Six-Month LIBOR Loan Balance 60,698,533.84 Principal Transfer Amount 0.00 Pro-Rata Senior Percent 94.925361% 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 94.727517% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Interest Transfer Amount 0.00