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

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2004-7 trust. It summarizes the interest and principal payments made to certificateholders as of August 31, 2004, with distributions occurring on September 20, 2004. The statement details the amounts distributed to each class of certificates, the remaining balances, and confirms that all calculations were made in accordance with the Pooling and Servicing Agreement. No realized losses are reported for this period.

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EX-10.1 2 f02248hexv10w1.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: AUGUST 31, 2004 DISTRIBUTION DATE: SEPTEMBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution - ---------- --------- ----------- ------------ ---------------- ------------ ------------- A-1 81744FCV7 SEN 2.92800% 494,689,886.04 1,207,045.52 5,073,312.49 A-2 81744FCW5 SEN 1.91000% 250,505,405.08 398,721.10 2,633,390.16 A-3-A 81744FCX3 SEN 2.28500% 246,067,085.16 468,552.74 2,743,023.22 A-3-B 81744FDH7 SEN 2.51000% 3,927,162.14 8,214.31 43,777.89 X-A 81744FCY1 IO 0.82227% 0.00 342,953.95 0.00 X-B 81744FCZ8 IO 0.63098% 0.00 15,735.03 0.00 B-1 81744FDB0 SUB 2.15000% 18,900,000.00 33,862.50 0.00 B-2 81744FDC8 SUB 2.54000% 11,025,000.00 23,336.25 0.00 B-3 81744FDD6 SUB 2.92466% 6,300,000.00 15,354.48 0.00 B-4 81744FDE4 SUB 2.92466% 3,150,000.00 7,677.24 0.00 B-5 81744FDF1 SUB 2.92466% 2,625,000.00 6,397.70 0.00 B-6 81744FDG9 SUB 2.92466% 5,250,582.74 12,796.82 0.00 A-R 81744FDA2 RES 2.92031% 0.00 1.90 0.00 ---------------- ------------ ------------- Totals 1,042,440,121.16 2,540,649.54 10,493,503.76 ---------------- ------------ ------------- Ending Current Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ---------- --------- ------------- ---------------- -------------- -------------- A-1 81744FCV7 0.00 489,616,573.55 6,280,358.01 0.00 A-2 81744FCW5 0.00 247,872,014.92 3,032,111.26 0.00 A-3-A 81744FCX3 0.00 243,324,061.93 3,211,575.96 0.00 A-3-B 81744FDH7 0.00 3,883,384.26 51,992.20 0.00 X-A 81744FCY1 0.00 0.00 342,953.95 0.00 X-B 81744FCZ8 0.00 0.00 15,735.03 0.00 B-1 81744FDB0 0.00 18,900,000.00 33,862.50 0.00 B-2 81744FDC8 0.00 11,025,000.00 23,336.25 0.00 B-3 81744FDD6 0.00 6,300,000.00 15,354.48 0.00 B-4 81744FDE4 0.00 3,150,000.00 7,677.24 0.00 B-5 81744FDF1 0.00 2,625,000.00 6,397.70 0.00 B-6 81744FDG9 0.00 5,250,582.74 12,796.82 0.00 A-R 81744FDA2 0.00 0.00 1.90 0.00 ---- ---------------- ------------- ---- Totals 0.00 1,031,946,617.40 13,034,153.30 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-1 498,828,000.00 494,689,886.04 0.00 5,073,312.49 0.00 0.00 A-2 252,102,000.00 250,505,405.08 0.00 2,633,390.16 0.00 0.00 A-3-A 247,874,000.00 246,067,085.16 0.00 2,743,023.22 0.00 0.00 A-3-B 3,956,000.00 3,927,162.14 0.00 43,777.89 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 ---------------- ---------------- ---- ------------- ---- ---- Totals 1,050,010,682.74 1,042,440,121.16 0.00 10,493,503.76 0.00 0.00 ---------------- ---------------- ---- ------------- ---- ---- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ---------- --------------- ------------------ ------------------ --------------- A-1 5,073,312.49 489,616,573.55 0.98153386 5,073,312.49 A-2 2,633,390.16 247,872,014.92 0.98322114 2,633,390.16 A-3-A 2,743,023.22 243,324,061.93 0.98164415 2,743,023.22 A-3-B 43,777.89 3,883,384.26 0.98164415 43,777.89 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 10,493,503.76 1,031,946,617.40 0.98279630 10,493,503.76 ------------- ---------------- ---------- -------------
(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-1 498,828,000.00 991.70432702 0.00000000 10.17046455 0.00000000 0.00000000 A-2 252,102,000.00 993.66686928 0.00000000 10.44573292 0.00000000 0.00000000 A-3-A 247,874,000.00 992.71034945 0.00000000 11.06619984 0.00000000 0.00000000 A-3-B 3,956,000.00 992.71034884 0.00000000 11.06620071 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 10.17046455 981.53386247 0.98153386 10.17046455 A-2 10.44573292 983.22113637 0.98322114 10.44573292 A-3-A 11.06619984 981.64414957 0.98164415 11.06619984 A-3-B 11.06620071 981.64415066 0.98164415 11.06620071 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 Non- Current Certificate/ Current Unpaid Current Supported Original Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------- ---------------- ----------- -------------- ------------ ---------- --------- --------- -------- A-1 498,828,000.00 2.92800% 494,689,886.04 1,207,045.52 0.00 0.00 0.00 0.00 A-2 252,102,000.00 1.91000% 250,505,405.08 398,721.10 0.00 0.00 0.00 0.00 A-3-A 247,874,000.00 2.28500% 246,067,085.16 468,552.74 0.00 0.00 0.00 0.00 A-3-B 3,956,000.00 2.51000% 3,927,162.14 8,214.31 0.00 0.00 0.00 0.00 X-A 0.00 0.82227% 500,499,652.38 342,953.95 0.00 0.00 0.00 0.00 X-B 0.00 0.63098% 29,925,000.00 15,735.03 0.00 0.00 0.00 0.00 B-1 18,900,000.00 2.15000% 18,900,000.00 33,862.50 0.00 0.00 0.00 0.00 B-2 11,025,000.00 2.54000% 11,025,000.00 23,336.25 0.00 0.00 0.00 0.00 B-3 6,300,000.00 2.92466% 6,300,000.00 15,354.48 0.00 0.00 0.00 0.00 B-4 3,150,000.00 2.92466% 3,150,000.00 7,677.24 0.00 0.00 0.00 0.00 B-5 2,625,000.00 2.92466% 2,625,000.00 6,397.70 0.00 0.00 0.00 0.00 B-6 5,250,582.74 2.92466% 5,250,582.74 12,796.82 0.00 0.00 0.00 0.00 A-R 100.00 2.92031% 0.00 0.00 0.00 0.00 0.00 0.00 ---------------- ------------ ---- ---- ---- ---- Totals 1,050,010,682.74 2,540,647.64 0.00 0.00 0.00 0.00 ---------------- ------------ ---- ---- ---- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------- -------------- --------- -------------- A-1 1,207,045.52 0.00 489,616,573.55 A-2 398,721.10 0.00 247,872,014.92 A-3-A 468,552.74 0.00 243,324,061.93 A-3-B 8,214.31 0.00 3,883,384.26 X-A 342,953.95 0.00 495,079,461.11 X-B 15,735.03 0.00 29,925,000.00 B-1 33,862.50 0.00 18,900,000.00 B-2 23,336.25 0.00 11,025,000.00 B-3 15,354.48 0.00 6,300,000.00 B-4 7,677.24 0.00 3,150,000.00 B-5 6,397.70 0.00 2,625,000.00 B-6 12,796.82 0.00 5,250,582.74 A-R 1.90 0.00 0.00 ------------ ---- Totals 2,540,649.54 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 Non- Current Beginning Unpaid Current 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 2.92800% 991.70432702 2.41976296 0.00000000 0.00000000 0.00000000 0.00000000 A-2 252,102,000.00 1.91000% 993.66686928 1.58158642 0.00000000 0.00000000 0.00000000 0.00000000 A-3-A 247,874,000.00 2.28500% 992.71034945 1.89028595 0.00000000 0.00000000 0.00000000 0.00000000 A-3-B 3,956,000.00 2.51000% 992.71034884 2.07641810 0.00000000 0.00000000 0.00000000 0.00000000 X-A 0.00 0.82227% 993.18886751 0.68055601 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.63098% 1000.00000000 0.52581554 0.00000000 0.00000000 0.00000000 0.00000000 B-1 18,900,000.00 2.15000% 1000.00000000 1.79166667 0.00000000 0.00000000 0.00000000 0.00000000 B-2 11,025,000.00 2.54000% 1000.00000000 2.11666667 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,300,000.00 2.92466% 1000.00000000 2.43721905 0.00000000 0.00000000 0.00000000 0.00000000 B-4 3,150,000.00 2.92466% 1000.00000000 2.43721905 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,625,000.00 2.92466% 1000.00000000 2.43721905 0.00000000 0.00000000 0.00000000 0.00000000 B-6 5,250,582.74 2.92466% 1000.00000000 2.43721900 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.92031% 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 2.41976296 0.00000000 981.53386247 A-2 1.58158642 0.00000000 983.22113637 A-3-A 1.89028595 0.00000000 981.64414957 A-3-B 2.07641810 0.00000000 981.64415066 X-A 0.68055601 0.00000000 982.43306857 X-B 0.52581554 0.00000000 1000.00000000 B-1 1.79166667 0.00000000 1000.00000000 B-2 2.11666667 0.00000000 1000.00000000 B-3 2.43721905 0.00000000 1000.00000000 B-4 2.43721905 0.00000000 1000.00000000 B-5 2.43721905 0.00000000 1000.00000000 B-6 2.43721900 0.00000000 1000.00000000 A-R 19.00000000 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 13,366,449.98 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3,950.43 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 13,370,400.41 Withdrawals Reimbursement for Servicer Advances 4,227.05 Payment of Service Fee 332,020.06 Payment of Interest and Principal 13,034,153.30 ------------- Total Withdrawals (Pool Distribution Amount) 13,370,400.41 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 327,242.21 Master Servicing Fee 4,777.85 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 332,020.06 ==========
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
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 5 1,462,223.50 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 ----- ------------ 5 1,462,223.50
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.162232% 0.141696% 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% -------- -------- 0.162232% 0.141696%
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 5 1,462,223.50 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 --- ------------ 5 1,462,223.50
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.162232% 0.141696% 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% -------- -------- 0.162232% 0.141696%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3,950.43
Original $ Original % Current $ Current % Current Class % Prepayment % ------------- ----------- ------------- ----------- --------------- ------------ Class A 47,250,582.74 4.50000972% 47,250,582.74 4.57878169% 95.421218% 0.000000% Class B-1 28,350,582.74 2.70002803% 28,350,582.74 2.74729160% 1.831490% 39.999507% Class B-2 17,325,582.74 1.65003871% 17,325,582.74 1.67892238% 1.068369% 23.333046% Class B-3 11,025,582.74 1.05004482% 11,025,582.74 1.06842569% 0.610497% 13.333169% Class B-4 7,875,582.74 0.75004787% 7,875,582.74 0.76317734% 0.305248% 6.666584% Class B-5 5,250,582.74 0.50005041% 5,250,582.74 0.50880372% 0.254374% 5.555487% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.508804% 11.112207%
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 3 786,523.50 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 --- ---------- 3 786,523.50
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.197759% 0153282% 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% -------- -------- 0.197759% 0.153282%
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 3 786,523.50 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 --- ---------- 3 786,523.50
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.197759% 0.153282% 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% -------- -------- 0.197759% 0.153282%
DELINQUENT GROUP TWO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 1 100,700.00 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 --- ---------- 1 100,700.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.135501% 0.038768% 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% -------- -------- 0.135501% 0.038768%
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 1 100,700.00 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 --- ---------- 1 100,700.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.135501% 0.038768% 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% -------- -------- 0.135501% 0.038768%
DELINQUENT GROUP THREE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 1 575,000.00 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 --- ---------- 1 575,000.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.120919% 0.221944% 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% -------- -------- 0.120919% 0.221944%
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 1 575,000.00 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 --- ---------- 1 575,000.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.120919% 0.221944% 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% -------- -------- 0.120919% 0.221944%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.306859% Weighted Average Net Coupon 2.930156% Weighted Average Pass-Through Rate 2.924656% Weighted Average Maturity (Stepdown Calculation) 341 Beginning Scheduled Collateral Loan Count 3,108 Number of Loans Paid in Full 26 Ending Scheduled Collateral Loan Count 3,082 Beginning Scheduled Collateral Balance 1,042,440,121.16 Ending Scheduled Collateral Balance 1,031,946,617.40 Ending Actual Collateral Balance at 31-Aug-2004 1,031,946,973.74 Monthly P&I Constant 2,872,668.67 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 12,918,991.38 Scheduled Principal 0.00 Unscheduled Principal 10,493.503.76
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 3.310560 3.279625 3.326822 3.306859 Weighted Average Net Rate 2.933507 2.903568 2.950165 2.930156 Pass-Through Rate 2.928007 2.898068 2.944665 2.924656 Weighted Average Maturity 340 338 346 341 Record Date 08/31/2004 08/31/2004 08/31/2004 08/31/2004 Principal and Interest Constant 1,429,596.23 717,101.32 725,971.12 2,872,668.67 Beginning Loan Count 1,530 744 834 3,108 Loans Paid in Full 13 6 7 26 Ending Loan Count 1,517 738 827 3,082 Beginning Scheduled Balance 518,194,892.57 262,384,137.05 261,861,091.54 1,042,440,121.16 Ending Scheduled Balance 513,121,580.08 259,750,746.89 259,074,290.43 1,031,946,617.40 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 5,073,312.49 2,633,390.16 2,786,801.11 10,493,503.76 Scheduled Interest 1,429,596.23 717,101.32 725,971.12 2,872,668.67 Servicing Fee 162,822.74 82,226.11 82,193.36 327,242.21 Master Servicing Fee 2,375.06 1,202.59 1,200.20 4,777.85 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 1,264.398.43 633,672.62 642,577.56 2,540,648.61 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 95.464061% 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 177,560,178.83 Six-Month LIBOR Loan Balance 82,190,568.06 Principal Transfer Amount 0.00 Pro-Rata Senior Percent 95.472771% 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 95.468267% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Interest Transfer Amount 0.00