Wells Fargo Bank Minnesota, N.A. SMT Series 2004-7 Certificateholder Distribution Statement (July 30, 2004 Record Date)

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 payments of principal and interest made to holders of various classes of certificates as of the July 30, 2004 record date, with distributions occurring on August 20, 2004. The statement details the amounts distributed, remaining balances, and interest rates for each certificate class, as well as 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 f01647exv10w1.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: JULY 30, 2004 DISTRIBUTION DATE: AUGUST 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Certificate Interest Principal Current Class CUSIP Description Pass-Through Rate Balance Distribution Distribution Realized Loss - ----- ----- ----------- ----------------- ------------- -------------- ------------- -------------- A-1 81744FCV7 SEN 2.92342% 498,828,000.00 1,215,234.69 4,138,113.96 0.00 A-2 81744FCW5 SEN 1.78000% 252,102,000.00 261,765.91 1,596,594.92 0.00 A-3-A 81744FCX3 SEN 2.28500% 247,874,000.00 330,395.39 1,806,914.84 0.00 A-3-B 81744FDH7 SEN 2.51000% 3,956,000.00 5,792.24 28,837.86 0.00 X-A 81744FCY1 IO 1.42850% 0.00 599,890.00 0.00 0.00 X-B 81744FCZ8 IO 1.37315% 0.00 34,242.84 0.00 0.00 B-1 81744FDB0 SUB 2.02000% 18,900,000.00 22,270.50 0.00 0.00 B-2 81744FDC8 SUB 2.41000% 11,025,000.00 15,499.31 0.00 0.00 B-3 81744FDD6 SUB 2.88773% 6,300,000.00 15,160.56 0.00 0.00 B-4 81744FDE4 SUB 2.88773% 3,150,000.00 7,580.28 0.00 0.00 B-5 81744FDF1 SUB 2.88773% 2,625,000.00 6,316.90 0.00 0.00 B-6 81744FDG9 SUB 2.88773% 5,250,582.74 12,635.20 0.00 0.00 A-R 81744FDA2 RES 2.92342% 100.00 2.57 100.00 0.00 ---------------- ------------ ------------ ---- Totals 1,050,010,682.74 2,526,786.39 7,570,561.58 0.00 ---------------- ------------ ------------ ---- Ending Certificate Total Cumulative Class Balance Distribution Realized Loss - ----- ------------------- ---------------- ----------------- A-1 494,689,886.04 5,353,348.65 0.00 A-2 250,505,405.08 1,858,360.83 0.00 A-3-A 246,067,085.16 2,137,310.23 0.00 A-3-B 3,927,162.14 34,630.10 0.00 X-A 0.00 599,890.00 0.00 X-B 0.00 34,242.84 0.00 B-1 18,900,000.00 22,270.50 0.00 B-2 11,025,000.00 15,499.31 0.00 B-3 6,300,000.00 15,160.56 0.00 B-4 3,150,000.00 7,580.28 0.00 B-5 2,625,000.00 6,316.90 0.00 B-6 5,250,582.74 12,635.20 0.00 A-R 0.00 102.57 0.00 ---------------- ------------- ---- Totals 1,042,440,121.16 10,097,347.97 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 Total Principal Ending Certificate Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance - ----- ---------------- -------------- ------------ --------------- --------- -------- ---------------- ------------------ A-1 498,828,000.00 498,828,000.00 0.00 4,138,113.96 0.00 0.00 4,138,113.96 494,689,886.04 A-2 252,102,000.00 252,102,000.00 0.00 1,596,594.92 0.00 0.00 1,596,594.92 250,505,405.08 A-3 247,874,000.00 247,874,000.00 0.00 1,806,914.84 0.00 0.00 1,806,914.84 246,067,085.16 X-1 3,956,000.00 3,956,000.00 0.00 28,837.86 0.00 0.00 28,837.86 3,927,162.14 X-2 0.00 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 0.00 B-1 18,900,000.00 18,900,000.00 0.00 0.00 0.00 0.00 0.00 18,900,000.00 B-2 11,025,000.00 11,025,000.00 0.00 0.00 0.00 0.00 0.00 11,025,000.00 B-3 6,300,000.00 6,300,000.00 0.00 0.00 0.00 0.00 0.00 6,300,000.00 B-4 3,150,000.00 3,150,000.00 0.00 0.00 0.00 0.00 0.00 3,150,000.00 B-5 2,625,000.00 2,625,000.00 0.00 0.00 0.00 0.00 0.00 2,625,000.00 B-6 5,250,582.74 5,250,582.74 0.00 0.00 0.00 0.00 0.00 5,250,582.74 A-R 100.00 100.00 0.00 100.00 0.00 0.00 100.00 0.00 ---------------- ---------------- ---- ------------ ---- ---- ------------ ---------------- Totals 1,050,010,682.74 1,050,010,682.74 0.00 7,570,561.58 0.00 0.00 7,570,561.58 1,042,440,121.16 ---------------- ---------------- ---- ------------ ---- ---- ------------ ---------------- Ending Certificate Total Principal Class Percentage Distribution - ----- ------------------ --------------- A-1 0.99170433 4,138,113.96 A-2 0.99366687 1,596,594.92 A-3 0.99271035 1,806,914.84 X-1 0.99271035 28,837.86 X-2 0.00000000 0.00 X-B 0.00000000 0.00 B-1 1.00000000 0.00 B-2 1.00000000 0.00 B-3 1.00000000 0.00 B-4 1.00000000 0.00 B-5 1.00000000 0.00 B-6 1.00000000 0.00 A-R 0.00000000 100.00 ---------- ------------ Totals 0.99279001 7,570,561.58 ---------- ------------
(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 Total Principal Ending Certificate Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance - ----- ------------- ------------ ------------ ------------- ----------- ----------- --------------- ------------------ A-1 498,828,000.00 1000.00000000 0.00000000 8.29567298 0.00000000 0.00000000 8.29567298 991.70432702 A-2 252,102,000.00 1000.00000000 0.00000000 6.33313072 0.00000000 0.00000000 6.33313072 993.66686928 A-3 247,874,000.00 1000.00000000 0.00000000 7.28965055 0.00000000 0.00000000 7.28965055 992.71034945 X-1 3,956,000.00 1000.00000000 0.00000000 7.28965116 0.00000000 0.00000000 7.28965116 992.71034884 X-2 0.00 0.00000000 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 0.00000000 B-1 18,900,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-2 11,025,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-3 6,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-4 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-5 2,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-6 5,250,582.74 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 A-R 100.00 1000.00000000 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000 0.00000000 Ending Certificate Total Principal Class Percentage Distribution - ----- ------------------ ---------------- A-1 0.99170433 8.29567298 A-2 0.99366687 6.33313072 A-3 0.99271035 7.28965055 X-1 0.99271035 7.28965116 X-2 0.00000000 0.00000000 X-B 0.00000000 0.00000000 B-1 1.00000000 0.00000000 B-2 1.00000000 0.00000000 B-3 1.00000000 0.00000000 B-4 1.00000000 0.00000000 B-5 1.00000000 0.00000000 B-6 1.00000000 0.00000000 A-R 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 Non- Certificate/ Current Unpaid Current 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 2.92342% 498,828,000.00 1,215,234.69 0.00 0.00 0.00 0.00 A-2 252,102,000.00 1.78000% 252,102,000.00 261,765.91 0.00 0.00 0.00 0.00 A-3 247,874,000.00 2.28500% 247,874,000.00 330,395.39 0.00 0.00 0.00 0.00 X-1 3,956,000.00 2.51000% 3,956,000.00 5,792.24 0.00 0.00 0.00 0.00 X-2 0.00 1.42850% 503,932,000.00 599,890.00 0.00 0.00 0.00 0.00 X-B 0.00 1.37315% 29,925,000.00 34,242.84 0.00 0.00 0.00 0.00 B-1 18,900,000.00 2.02000% 18,900,000.00 22,270.50 0.00 0.00 0.00 0.00 B-2 11,025,000.00 2.41000% 11,025,000.00 15,499.31 0.00 0.00 0.00 0.00 B-3 6,300,000.00 2.88773% 6,300,000.00 15,160.56 0.00 0.00 0.00 0.00 B-4 3,150,000.00 2.88773% 3,150,000.00 7,580.28 0.00 0.00 0.00 0.00 B-5 2,625,000.00 2.88773% 2,625,000.00 6,316.90 0.00 0.00 0.00 0.00 B-6 5,250,582.74 2.88773% 5,250,582.74 12,635.20 0.00 0.00 0.00 0.00 A-R 100.00 2.92342% 100.00 0.24 0.00 0.00 0.00 0.00 ---------------- -------------- ------------ ---- ---- ---- ---- Totals 1,050,010,682.74 2,526,784.06 0.00 0.00 0.00 0.00 ---------------- -------------- ------------ ---- ---- ---- ---- Total Interest Remaining Unpaid Ending Certificate/ Class Distribution Interest Shortfall Notational Balance - ----- --------------- ------------------ --------------------- A-1 1,215,234.69 0.00 494,689,886.04 A-2 261,765.91 0.00 250,505,405.08 A-3 330,395.39 0.00 246,067,085.16 X-1 5,792.24 0.00 3,927,162.14 X-2 599,890.00 0.00 500,499,652.38 X-B 34,242.84 0.00 29,925,000.00 B-1 22,270.50 0.00 18,900,000.00 B-2 15,499.31 0.00 11,025,000.00 B-3 15,160.56 0.00 6,300,000.00 B-4 7,580.28 0.00 3,150,000.00 B-5 6,316.90 0.00 2,625,000.00 B-6 12,635.20 0.00 5,250,582.74 A-R 2.57 0.00 0.00 ------------ ---- -------------- Totals 2,526,786.39 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 2.92342% 1000.00000000 2.43617979 0.00000000 0.00000000 0.00000000 0.00000000 A-2 252,102,000.00 1.78000% 1000.00000000 1.03833333 0.00000000 0.00000000 0.00000000 0.00000000 A-3 247,874,000.00 2.28500% 1000.00000000 1.33291668 0.00000000 0.00000000 0.00000000 0.00000000 X-1 3,956,000.00 2.51000% 1000.00000000 1.46416582 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 1.42850% 1000.00000000 1.19041855 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 1.37315% 1000.00000000 1.14428872 0.00000000 0.00000000 0.00000000 0.00000000 B-1 18,900,000.00 2.02000% 1000.00000000 1.17833333 0.00000000 0.00000000 0.00000000 0.00000000 B-2 11,025,000.00 2.41000% 1000.00000000 1.40583311 0.00000000 0.00000000 0.00000000 0.00000000 B-3 6,300,000.00 2.88773% 1000.00000000 2.40643810 0.00000000 0.00000000 0.00000000 0.00000000 B-4 3,150,000.00 2.88773% 1000.00000000 2.40643810 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,625,000.00 2.88773% 1000.00000000 2.40643810 0.00000000 0.00000000 0.00000000 0.00000000 B-6 5,250,582.74 2.88773% 1000.00000000 2.40643765 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.92342% 1000.00000000 2.40000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance --- ------------- ------------ ------------------ A-1 2.43617979 0.00000000 991.70432702 A-2 1.03833333 0.00000000 993.66686928 A-3 1.33291668 0.00000000 992.71034945 X-1 1.46416582 0.00000000 992.71034884 X-2 1.19041855 0.00000000 993.18886751 X-B 1.14428872 0.00000000 1000.00000000 B-1 1.17833333 0.00000000 1000.00000000 B-2 1.40583311 0.00000000 1000.00000000 B-3 2.40643810 0.00000000 1000.00000000 B-4 2.40643810 0.00000000 1000.00000000 B-5 2.40643810 0.00000000 1000.00000000 B-6 2.40643765 0.00000000 1000.00000000 A-R 25.70000000 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 10,427,562.08 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4,227.05 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 -------------- Total Deposits 10,431,789.13 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 334,441.16 Payment of Interest and Principal 10,097,347.97 -------------- Total Withdrawals (Pool Distribution Amount) 10,431,789.13 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 329,628.61 Master Servicing Fee 4,812.55 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 334,441.16 ==========
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 5 1,574,800.00 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 -------- ------------- ------- -------- -------- ------- 5 1,574,800.00 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 0.160875% 0.151066% 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% -------- -------- -------- -------- -------- -------- 0.160875% 0.151066% 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 5 1,574,800.00 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 5 1,574,800.00 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 0.160875% 0.151066% 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% 0.160875% 0.151066%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4,227.05
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ----------- ------------- ----------- --------------- ------------ Class A 47,250,582.74 4.50000972% 47,250,582.74 4.53269035% 95.467310% 0.000000% Class B-1 28,350,582.74 2.70002803% 28,350,582.74 2.71963657% 1.813054% 39.999507% Class B-2 17,325,582.74 1.65003871% 17,325,582.74 1.66202186% 1.057615% 23.333046% Class B-3 11,025,582.74 1.05004482% 11,025,582.74 1.05767061% 0.604351% 13.333169% Class B-4 7,875,582.74 1.75004787% 7,875,582.74 0.75549498% 0.302176% 6.666584% Class B-5 5,250,582.74 0.50005041% 5,250,582.74 0.50368195% 0.251813% 5.555487% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.503682% 11.112207%
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 1,085,550.00 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 1,085,550.00 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 0.196078% 0.209482% 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% -------- --------- -------- -------- -------- -------- 0.196078% 0.209482% 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 1,085,550.00 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 1,085,550.00 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 0.196078% 0.209482% 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% 0.196078% 0.209482%
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 1 221,250.00 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 -------- ---------- -------- -------- -------- -------- 1 221,250.00 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 0.134409% 0.084323% 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% -------- --------- -------- -------- -------- -------- 0.134409% 0.084323% 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 1 221,250.00 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 1 221,250.00 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 0.134409% 0.084323% 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% 0.134409% 0.084323%
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 1 268,000.00 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 -------- ---------- -------- -------- -------- -------- 1 268,000.00 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 0.119904% 0.102343% 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% -------- -------- -------- -------- -------- -------- 0.119904% 0.102343% 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 1 268,000.00 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 1 268,000.00 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 0.119904% 0.102343% 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% 0.119904% 0.102343%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.267554% Weighted Average Net Coupon 2.890840% Weighted Average Pass-Through Rate 2.885340% Weighted Average Maturity (Stepdown Calculation) 342 Beginning Scheduled Collateral Loan Count 3,117 Number of Loans Paid in Full 9 Ending Scheduled Collateral Loan Count 3,108 Beginning Scheduled Collateral Balance 1,050,010,682.74 Ending Scheduled Collateral Balance 1,042,440,121.16 Ending Actual Collateral Balance at 30-July-2004 1,042,456,513.20 Monthly P&I Constant 2,859,138.97 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 9,983,640.05 Scheduled Principal 0.00 Unscheduled Principal 7,570,561.58
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 3.301159 3.149355 3.319317 3.267554 Weighted Average Net Rate 2.924121 2.773212 2.942669 2.890840 Pass-Through Rate 2.918621 2.767712 2.937169 2.885340 Weighted Average Maturity 341 339 347 342 Record Date 07/30/2004 07/30/2004 07/30/2004 07/30/2004 Principal and Interest Constant 1,436,920.38 692,807.50 729,411.09 2,859,138.97 Beginning Loan Count 1,534 748 835 3,117 Loans Paid in Full 4 4 1 9 Ending Loan Count 1,530 744 834 3,108 Beginning Scheduled Balance 522,333,106.53 263,980,731.97 263,696,844.24 1,050,010,682.74 Ending Scheduled Balance 518,194,892.57 262,384,137.05 261,861,091.54 1,042,440,121.16 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 4,138,213.96 1,596,594.92 1,835,752.70 7,570,561.58 Scheduled Interest 1,436,920.38 692,807.50 729,411.09 2,859,138.97 Servicing Fee 164,115.97 82,745.31 82,767.33 329,628.61 Master Servicing Fee 2,394.03 1,209.91 1,208.61 4,812.55 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 1,270,410.38 608,852.28 645,435.15 2,524,697.81 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 95.499997% 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 177,931,477.69 Six-Month LIBOR Loan Balance 84,452,659.36 Principal Transfer Amount 0.00 Pro-Rata Senior Percent 95.500152% 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 95.499816% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Interest Transfer Amount 0.00