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EX-10.1 2 f04404cexv10w1.htm EXHIBIT 10.1 exv10w1

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) ###-###-####
	Fax:	(301) ###-###-####

SMT SERIES 2004-8
Record Date: November 30, 2004
Distribution Date: December 20, 2004

Certificateholder Distribution Summary


			Certificate	Certificate
			Class	Pass-Through			Beginning		Interest		Principal		Current		Ending Certificate		Total		Cumulative
Class	CUSIP		Description	Rate			Certificate Balance		Distribution		Distribution		Realized Loss		Balance		Distribution		Realized Loss

A-1		81744FDJ3	SEN		2.49000	%		352,454,905.58		731,343.93		4,712,626.21		0.00		347,742,279.37		5,443,970.14		0.00
A-2		81744FDK0	SEN		2.35000	%		406,752,496.43		796,556.97		5,074,744.59		0.00		401,677,751.84		5,871,301.56		0.00
X-A		81744FDL8	IO		0.69442	%		0.00		439,340.94		0.00		0.00		0.00		439,340.94		0.00
X-B		81744FDM6	IO		0.32277	%		0.00		6,616.86		0.00		0.00		0.00		6,616.86		0.00
B-1		81744FDP9	SUB		2.66000	%		16,400,000.00		36,353.33		0.00		0.00		16,400,000.00		36,353.33		0.00
B-2		81744FDQ7	SUB		3.04000	%		8,200,000.00		20,773.33		0.00		0.00		8,200,000.00		20,773.33		0.00
B-3		81744FDR5	SUB		3.10944	%		4,100,000.00		10,623.92		0.00		0.00		4,100,000.00		10,623.92		0.00
B-4		81744FDS3	SUB		3.10944	%		2,460,000.00		6,374.35		0.00		0.00		2,460,000.00		6,374.35		0.00
B-5		81744FDT1	SUB		3.10944	%		2,050,000.00		5,311.96		0.00		0.00		2,050,000.00		5,311.96		0.00
B-6		81744FDU8	SUB		3.10944	%		3,690,645.34		9,563.44		0.00		0.00		3,690,645.34		9,563.44		0.00
A-R		81744FDN4	SEN		2.98628	%		0.00		0.80		0.00		0.00		0.00		0.80		0.00

Totals								796,108,047.35		2,062,859.83		9,787,370.80		0.00		786,320,676.55		11,850,230.63		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		Ending Certificate		Total Principal
Class	Amount		Balance		Distribution		Distribution		Accretion		Loss (1)		Reduction		Balance		Percentage		Distribution

A-1		365,049,000.00		352,454,905.58		0.00		4,712,626.21		0.00		0.00		4,712,626.21		347,742,279.37		0.95259069		4,712,626.21
A-2		418,050,000.00		406,752,496.43		140.62		5,074,603.97		0.00		0.00		5,074,744.59		401,677,751.84		0.96083663		5,074,744.59
X-A		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00000000		0.00
X-B		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00000000		0.00
B-1		16,400,000.00		16,400,000.00		0.00		0.00		0.00		0.00		0.00		16,400,000.00		1.00000000		0.00
B-2		8,200,000.00		8,200,000.00		0.00		0.00		0.00		0.00		0.00		8,200,000.00		1.00000000		0.00
B-3		4,100,000.00		4,100,000.00		0.00		0.00		0.00		0.00		0.00		4,100,000.00		1.00000000		0.00
B-4		2,460,000.00		2,460,000.00		0.00		0.00		0.00		0.00		0.00		2,460,000.00		1.00000000		0.00
B-5		2,050,000.00		2,050,000.00		0.00		0.00		0.00		0.00		0.00		2,050,000.00		1.00000000		0.00
B-6		3,690,645.34		3,690,645.34		0.00		0.00		0.00		0.00		0.00		3,690,645.34		1.00000000		0.00
A-R		100.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00000000		0.00

Totals		819,999,745.34		796,108,047.35		140.62		9,787,230.18		0.00		0.00		9,787,370.80		786,320,676.55		0.95892795		9,787,370.80

(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		Ending Certificate		Total Principal
Class	Amount		Balance		Distribution		Distribution		Accretion		Loss (3)		Reduction		Balance		Percentage		Distribution

A-1		365,049,000.00		965.50026320		0.00000000		12.90957162		0.00000000		0.00000000		12.90957162		952.59069158		0.95259069		12.90957162
A-2		418,050,000.00		972.97571207		0.00033637		12.13874888		0.00000000		0.00000000		12.13908525		960.83662681		0.96083663		12.13908525
X-A		0.00		0.00000000		0.00000000		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		0.00000000		0.00000000
B-1		16,400,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-2		8,200,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-3		4,100,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-4		2,460,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-5		2,050,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-6		3,690,645.34		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
A-R		100.00		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		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-						Remaining		Ending
						Certificate/		Current		Unpaid		Current		Supported						Unpaid		Certificate/
	Original Face		Current			Notional		Accrued		Interest		Interest		Interest		Realized		Total Interest		Interest		Notational
Class	Amount		Certificate Rate			Balance		Interest		Shortfall		Shortfall		Shortfall		Loss (4)		Distribution		Shortfall		Balance

A-1		365,049,000.00		2.49000	%		352,454,905,58		731,343.93		0.00		0.00		0.00		0.00		731,343.93		0.00		347,742,279.37
A-2		418,050,000.00		2.35000	%		406,752,496.43		796,556.97		0.00		0.00		0.00		0.00		796,556.97		0.00		401,677,751.84
X-A		0.00		0.69442	%		759,207,402.01		439,340.94		0.00		0.00		0.00		0.00		439,340.94		0.00		749,420,031.21
X-B		0.00		0.32277	%		24,600,000.00		6,616.86		0.00		0.00		0.00		0.00		6,616.86		0.00		24,600,000.00
B-1		16,400,000.00		2.66000	%		16,400,000.00		36,353.33		0.00		0.00		0.00		0.00		36,353.33		0.00		16,400,000.00
B-2		8,200,000.00		3.04000	%		8,200,000.00		20,773.33		0.00		0.00		0.00		0.00		20,773.33		0.00		8,200,000.00
B-3		4,100,000.00		3.10944	%		4,100,000.00		10,623.92		0.00		0.00		0.00		0.00		10,623.92		0.00		4,100,000.00
B-4		2,460,000.00		3.10944	%		2,460,000.00		6,374.35		0.00		0.00		0.00		0.00		6,374.35		0.00		2,460,000.00
B-5		2,050,000.00		3.10944	%		2,050,000.00		5,311.96		0.00		0.00		0.00		0.00		5,311.96		0.00		2,050,000.00
B-6		3,690,645.34		3.10944	%		3,690,645.34		9,563.44		0.00		0.00		0.00		0.00		9,563.44		0.00		3,690,645.34
A-R		100.00		2.98628	%		0.00		0.00		0.00		0.00		0.00		0.00		0.80		0.00		0.00

Totals		819,999,745.34							2,062,859.03		0.00		0.00		0.00		0.00		2,062,859.83		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-					Remaining
			Current			Beginning				Unpaid		Current		Supported					Unpaid
Class	Original Face		Certificate			Certificate/		Current Accrued		Interest		Interest		Interest		Realized		Total Interest	Interest		Ending Certificate/
(5)	Amount		Rate			Notional Balance		Interest		Shortfall		Shortfall		Shortfall		Loss (6)		Distribution	Shortfall		Notational Balance

A-1		365,049,000.00		2.49000	%		965.50026320		2.00341305		0.00000000		0.00000000		0.00000000		0.00000000	2.00341305		0.00000000	952.59069158
A-2		418,050,000.00		2.35000	%		972.97571207		1.90541076		0.00000000		0.00000000		0.00000000		0.00000000	1.90541076		0.00000000	960.83662681
X-A		0.00		0.69442	%		969.49096093		0.56102861		0.00000000		0.00000000		0.00000000		0.00000000	0.56102861		0.00000000	956.99270617
X-B		0.00		0.32277	%	1000.00000000			0.26897805		0.00000000		0.00000000		0.00000000		0.00000000	0.26897805		0.00000000	1000.00000000
B-1		16,400,000.00		2.66000	%	1000.00000000			2.21666646		0.00000000		0.00000000		0.00000000		0.00000000	2.21666646		0.00000000	1000.00000000
B-2		8,200,000.00		3.04000	%	1000.00000000			2.53333293		0.00000000		0.00000000		0.00000000		0.00000000	2.53333293		0.00000000	1000.00000000
B-3		4,100,000.00		3.10944	%	1000.00000000			2.59120000		0.00000000		0.00000000		0.00000000		0.00000000	2.59120000		0.00000000	1000.00000000
B-4		2,460,000.00		3.10944	%	1000.00000000			2.59119919		0.00000000		0.00000000		0.00000000		0.00000000	2.59119919		0.00000000	1000.00000000
B-5		2,050,000.00		3.10944	%	1000.00000000			2.59120000		0.00000000		0.00000000		0.00000000		0.00000000	2.59120000		0.00000000	1000.00000000
B-6		3,690,645.34		3.10944	%	1000.00000000			2.59126497		0.00000000		0.00000000		0.00000000		0.00000000	2.59126497		0.00000000	1000.00000000
A-R		100.00		2.98628	%		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000	8.00000000		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			12,180,615.58
Liquidations, Insurance Proceeds, Reserve Funds			0.00
Proceeds from Repurchased Loans			0.00
Other Amounts (Servicer Advances)			63,991.17
Realized Losses (Gains, Subsequent Expenses & Recoveries)			0.00
Prepayment Penalties			0.00

Total Deposits			12,244,606.75

Withdrawals
Reimbursement for Servicer Advances			139,719.78
Payment of Service Fee			254,656.32
Payment of Interest and Principal			11,850,230.65

Total Withdrawals (Pool Distribution Amount)			12,244,606.75

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			249,680.65
Master Servicing Fee			4,975.67
Supported Prepayment/Curtailment Interest Shortfall			0.00


Net Servicing Fee			254,656.32

Other Accounts


	Beginning		Current		Current		Ending
Account Type	Balance		Withdrawals		Deposits		Balance

Class X-A Pool 1 Comp Sub Account		4,500.00		0.00		0.00		4,500.00
Class X-A Pool 2 Comp Sub Account		4,500.00		0.00		0.00		4,500.00
Class X-B Sub Account		1,000.00		0.00		0.00		1,000.00

Loan Status Stratification/Credit Enhancement Statement


DELINQUENT							BANKRUPTCY							FORECLOSURE							REO							TOTAL

	No. of			Principal				No. of			Principal				No. of			Principal				No. of			Principal				No. of			Principal
	Loans			Balance				Loans			Balance				Loans			Balance				Loans			Balance				Loans			Balance

0-29 Days		0			0.00		0-29 Days		0			0.00		0-29 Days		0			0.00		0-29 Days		0			0.00		0-29 Days		0			0.00
30 Days		56			20,306,407.77		30 Days		0			0.00		30 Days		0			0.00		30 Days		0			0.00		30 Days		56			20,306,407.77
60 Days		7			3,437,682.90		60 Days		0			0.00		60 Days		0			0.00		60 Days		0			0.00		60 Days		7			3,437,682.90
90 Days		0			0.00		90 Days		0			0.00		90 Days		0			0.00		90 Days		0			0.00		90 Days		0			0.00
120 Days		1			341,341.88		120 Days		0			0.00		120 Days		0			0.00		120 Days		0			0.00		120 Days		1			341,341.88
150 Days		0			0.00		150 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		180+ Days		0			0.00		180+ Days		0			0.00

		64			24,085,432.55				0			0.00				0			0.00				0			0.00				64			24,085,432.55

	No. of			Principal				No. of			Principal				No. of			Principal				No. of			Principal				No. of			Principal
	Loans			Balance				Loans			Balance				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	%	0-29 Days		0.000000	%		0.000000	%	0-29 Days		0.000000	%		0.000000	%
30 Days		2.507837	%		2.582448	%	30 Days		0.000000	%		0.000000	%	30 Days		0.000000	%		0.000000	%	30 Days		0.000000	%		0.000000	%	30 Days		2.507837	%		2.582448	%
60 Days		0.313480	%		0.437184	%	60 Days		0.000000	%		0.000000	%	60 Days		0.000000	%		0.000000	%	60 Days		0.000000	%		0.000000	%	60 Days		0.313480	%		0.437184	%
90 Days		0.000000	%		0.000000	%	90 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		0.044783	%		0.043410	%	120 Days		0.000000	%		0.000000	%	120 Days		0.000000	%		0.000000	%	120 Days		0.000000	%		0.000000	%	120 Days		0.044783	%		0.043410	%
150 Days		0.000000	%		0.000000	%	150 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	%	180+ Days		0.000000	%		0.000000	%	180+ Days		0.000000	%		0.000000	%

		2.866099	%		3.063042	%			0.000000	%		0.000000	%			0.000000	%		0.000000	%			0.000000	%		0.000000	%			2.866099	%		3.063042	%


Current Period Class A Insufficient Funds:			0.00			Principal Balance of Contaminated Properties			0.00			Periodic Advance			63,991.17


	Original $		Original%			Current $		Current %			Current Class %			Prepayment %
Class A		36,900,645.34		4.50008061	%		36,900,645.34		4.69282399	%		95.307176	%		0.000000	%
Class B-1		20,500,645.34		2.50007976	%		20,500,645.34		2.60716091	%		2.085663	%		44.443667	%
Class B-2		12,300,645.34		1.50007934	%		12,300,645.34		1.56432938	%		1.042832	%		22.221834	%
Class B-3		8,200,645.34		1.00007912	%		8,200,645.34		1.04291361	%		0.521416	%		11.110917	%
Class B-4		5,740,645.34		0.70007900	%		5,740,645.34		0.73006415	%		0.312849	%		6.666550	%
Class B-5		3,690,645.34		0.45007889	%		3,690,645.34		0.46935626	%		0.260708	%		5.555458	%
Class B-6		0.00		0.00000000	%		0.00		0.00000000	%		0.469356	%		10.001574	%

Please refer to the prospectus supplement for a full description of loss exposure

Delinquency Status by Group


DELINQUENT							BANKRUPTCY							FORECLOSURE							REO								TOTAL
*Pool One*
	No. of			Principal				No. of			Principal				No. of			Principal					No. of			Principal				No. of			Principal
	Loans			Balance				Loans			Balance				Loans			Balance					Loans			Balance				Loans			Balance
0-29 Days		0			0.00		0-29 Days		0			0.00		0-29 Days		0			0.00			0-29 Days		0			0.00		0-29 Days		0			0.00
30 Days		25			8,209,503.04		30 Days		0			0.00		30 Days		0			0.00			30 Days		0			0.00		30 Days		25			8,209,503.04
60 Days		3			2,936,883.31		60 Days		0			0.00		60 Days		0			0.00			60 Days		0			0.00		60 Days		3			2,936,883.31
90 Days		0			0.00		90 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			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			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			180+ Days		0			0.00		180+ Days		0			0.00

		28			11,146,386.35				0			0.00				0			0.00					0			0.00				28			11,146,386.35
	No. of			Principal				No. of			Principal				No. of			Principal					No. of			Principal				No. of			Principal
	Loans			Balance				Loans			Balance				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	%		0-29 Days		0.000000	%		0.000000	%	0-29 Days		0.000000	%		0.000000	%
30 Days		2.463054	%		2.249519	%	30 Days		0.000000	%		0.000000	%	30 Days		0.000000	%		0.000000	%		30 Days		0.000000	%		0.000000	%	30 Days		2.463054	%		2.249519	%
60 Days		0.295567	%		0.804747	%	60 Days		0.000000	%		0.000000	%	60 Days		0.000000	%		0.000000	%		60 Days		0.000000	%		0.000000	%	60 Days		0.295567	%		0.804747	%
90 Days		0.000000	%		0.000000	%	90 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	%		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	%		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	%		180+ Days		0.000000	%		0.000000	%	180+ Days		0.000000	%		0.000000	%

		2.758621	%		3.054266	%			0.000000	%		0.000000	%			0.000000	%		0.000000	%				0.000000	%		0.000000	%			2.758621	%		3.054266	%


DELINQUENT							BANKRUPTCY							FORECLOSURE							REO								TOTAL
*Pool Two*
	No. of			Principal				No. of			Principal				No. of			Principal					No. of			Principal				No. of			Principal
	Loans			Balance				Loans			Balance				Loans			Balance					Loans			Balance				Loans			Balance
0-29 Days		0			0.00		0-29 Days		0			0.00		0-29 Days		0			0.00			0-29 Days		0			0.00		0-29 Days		0			0.00
30 Days		31			12,096,904.73		30 Days		0			0.00		30 Days		0			0.00			30 Days		0			0.00		30 Days		31			12,096,904.73
60 Days		4			500,799.59		60 Days		0			0.00		60 Days		0			0.00			60 Days		0			0.00		60 Days		4			500,799.59
90 Days		0			0.00		90 Days		0			0.00		90 Days		0			0.00			90 Days		0			0.00		90 Days		0			0.00
120 Days		1			341,341.88		120 Days		0			0.00		120 Days		0			0.00			120 Days		0			0.00		120 Days		1			341,341.88
150 Days		0			0.00		150 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			180+ Days		0			0.00		180+ Days		0			0.00

		36			12,939,046.20				0			0.00				0			0.00					0			0.00				36			12,939,046.20
	No. of			Principal				No. of			Principal				No. of			Principal					No. of			Principal				No. of			Principal
	Loans			Balance				Loans			Balance				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	%		0-29 Days		0.000000	%		0.000000	%	0-29 Days		0.000000	%		0.000000	%
30 Days		2.545156	%		2.870790	%	30 Days		0.000000	%		0.000000	%	30 Days		0.000000	%		0.000000	%		30 Days		0.000000	%		0.000000	%	30 Days		2.545156	%		2.870790	%
60 Days		0.328407	%		0.118848	%	60 Days		0.000000	%		0.000000	%	60 Days		0.000000	%		0.000000	%		60 Days		0.000000	%		0.000000	%	60 Days		0.328407	%		0.118848	%
90 Days		0.000000	%		0.000000	%	90 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		0.082102	%		0.081006	%	120 Days		0.000000	%		0.000000	%	120 Days		0.000000	%		0.000000	%		120 Days		0.000000	%		0.000000	%	120 Days		0.082102	%		0.081006	%
150 Days		0.000000	%		0.000000	%	150 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	%		180+ Days		0.000000	%		0.000000	%	180+ Days		0.000000	%		0.000000	%

		2.955665	%		3.070643	%			0.000000	%		0.000000	%			0.000000	%		0.000000	%				0.000000	%		0.000000	%			2.955665	%		3.070643	%

Collateral Statement


Collateral Description	Mixed Arm
Weighted Average Gross Coupon		3.493268	%
Weighted Average Net Coupon		3.116916	%
Weighted Average Pass-Through Rate		3.109416	%
Weighted Average Maturity (Stepdown Calculation)		338

Beginning Scheduled Collateral Loan Count		2,255
Number of Loans Paid in Full		22
Ending Scheduled Collateral Loan Count		2,233

Beginning Scheduled Collateral Balance		796,108,047.35
Ending Scheduled Collateral Balance		786,320,676.55
Ending Actual Collateral Balance at 30-Nov-2004		786,323,898.88

Monthly P&I Constant		2,317,656.12
Special Servicing Fee		0.00
Prepayment Penalties		0.00
Realization Loss Amount		0.00
Cumulative Realized Loss		0.00

Class A Optimal Amount		11,754,612.64

Scheduled Principal		140.62
Unscheduled Principal		9,787,230.18

Miscellaneous Reporting


Rapid Prepay Condition?		NO


Group	Pool 1		Pool 2		Total

Collateral Description		Mixed ARM		1 Month LIBOR ARM		Mixed ARM
Weighted Average Coupon Rate		3.501127		3.486456		3,493268
Weighted Average Net Rate		3.124277		3.110535		3.116916
Pass-Through Rate		3.116777		3.103035		3.109416
Weighted Average Maturity		336		340		338
Record Date		11/30/2004		11/30/2004		11/30/2004
Principal and Interest Constant		1,078,511.84		1,239,144.28		2,317,656.12
Beginning Loan Count		1,022		1,233		2,255
Loans Paid in Full		7		15		22
Ending Loan Count		1,015		1,218		2,233
Beginning Scheduled Balance		369,656,506.49		426,451,540.86		796,108,047.35
Ending Scheduled Balance		364,943,880.28		421,376,796.27		786,320,676.55
Scheduled Principal		0.00		140.62		140.62
Unscheduled Principal		4,712,626.21		5,074,603.97		9,787,230.18
Scheduled Interest		1,078,511.84		1,239,003.66		2,317,515.50
Servicing Fee		116,087.26		133,593.39		249,680.65
Master Servicing Fee		2,310.35		2,665.32		4,975.67
Trustee Fee		0.00		0.00		0.00
FRY Amount		0.00		0.00		0.00
Special Hazard Fee		0.00		0.00		0.00
Other Fee		0.00		0.00		0.00
Pool Insurance Fee		0.00		0.00		0.00
Spread 1		0.00		0.00		0.00
Spread 2		0.00		0.00		0.00
Spread 3		0.00		0.00		0.00
Net Interest		960,114.23		1,102,744.95		2,062,859.18
Realized Loss Amount		0.00		0.00		0.00
Cumulative Realized Loss		0.00		0.00		0.00
Percentage of Cumulative Losses		0.00		0.00		0.00
Prepayment Penalties		0.00		0.00		0.00
Special Servicing Fee		0.00		0.00		0.00

Miscellaneous Reporting


Group Pool One
One-Month LIBOR Loan Balance	199,072,622.84
Six-Month LIBOR Loan Balance	165,871,257.44
Principal Transfer Amount	0.00
Interest Transfer Amount	0.00
Pro Rata Senior Percent	95.346599	%
Senior Percent	100.000000	%
Senior Prepayment Percent	100.000000	%
Subordinate Percent	0.000000	%
Subordinate Prepayment Percent	0.000000	%

Group Pool Two
Principal Transfer Amount	0.00
Interest Transfer Amount	0.00
Pro Rata Senior Percent	95.380707	%
Senior Percent	100.000000	%
Senior Prepayment Percent	100.000000	%
Subordinate Percent	0.000000	%
Subordinate Prepayment Percent	0.000000	%