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EX-10.1 2 f04404dexv10w1.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 2004-9
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		81744FDV6	SEN		2.48000	%		446,063,399.85		921,864.36		5,934,352.39		0.00		440,129,047.46		6,856,216.75		0.00
A-2		81744FDW4	SEN		2.53000	%		292,089,983.04		615,823.05		2,399,363.74		0.00		289,690,619.30		3,015,186.79		0.00
X-A		81744FDX2	IO		0.64576	%		0.00		397,226.57		0.00		0.00		0.00		397,226.57		0.00
X-B		81744FDY0	IO		0.36384	%		0.00		7,021.23		0.00		0.00		0.00		7,021.23		0.00
B-1		81744FEA1	SUB		2.65000	%		14,915,000.00		32,937.29		0.00		0.00		14,915,000.00		32,937.29		0.00
B-2		81744FEB9	SUB		3.02000	%		8,242,000.00		20,742.37		0.00		0.00		8,242,000.00		20,742.37		0.00
B-3		81744FEC7	SUB		3.14553	%		4,318,000.00		11,318.67		0.00		0.00		4,318,000.00		11,318.67		0.00
B-4		81744FED5	SUB		3.14553	%		2,355,000.00		6,173.11		0.00		0.00		2,355,000.00		6,173.11		0.00
B-5		81744FEE3	SUB		3.14553	%		1,962,000.00		5,142.94		0.00		0.00		1,962,000.00		5,142.94		0.00
B-6		81744FEF0	SUB		3.14553	%		3,533,134.00		9,261.32		0.00		0.00		3,533,134.00		9,261.32		0.00
A-R		81744FDZ7	SEN		3.11742	%		0.00		0.47		0.00		0.00		0.00		0.47		0.00

Totals								773,478,516.89		2,027,511.38		8,333,716.13		0.00		765,144,800.76		10,361,227.51		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		453,364,000.00		446,063,399.85		1,836.94		5,932,515.45		0.00		0.00		5,934,352.39		440,129,047.46		0.97080723		5,934,352.39
A-2		296,310,000.00		292,089,983.04		6.79		2,399,356.95		0.00		0.00		2,399,363.74		289,690,619.30		0.97766062		2,399,363.74
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		14,915,000.00		14,915,000.00		0.00		0.00		0.00		0.00		0.00		14,915,000.00		1.00000000		0.00
B-2		8,242,000.00		8,242,000.00		0.00		0.00		0.00		0.00		0.00		8,242,000.00		1.00000000		0.00
B-3		4,318,000.00		4,318,000.00		0.00		0.00		0.00		0.00		0.00		4,318,000.00		1.00000000		0.00
B-4		2,355,000.00		2,355,000.00		0.00		0.00		0.00		0.00		0.00		2,355,000.00		1.00000000		0.00
B-5		1,962,000.00		1,962,000.00		0.00		0.00		0.00		0.00		0.00		1,962,000.00		1.00000000		0.00
B-6		3,533,134.00		3,533,134.00		0.00		0.00		0.00		0.00		0.00		3,533,134.00		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		784,999,234.00		773,478,516.89		1,843.73		8,331,872.40		0.00		0.00		8,333,716.13		765,144,800.76		0.97470770		8,333,716.13

(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		453,364,000.00		983.89682430		0.00405180		13.08554594		0.00000000		0.00000000		13.08959774		970.80722656		0.97080723		13.08959774
A-2		296,310,000.00		985.75810145		0.00002292		8.09745520		0.00000000		0.00000000		8.09747811		977.66062333		0.97766062		8.09747811
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		14,915,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-2		8,242,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-3		4,318,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-4		2,355,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-5		1,962,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-6		3,533,134.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
A-R		100.00		1000.00000000		0.50000000		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		453,364,000.00		2.48000	%		446,063,399.85		921,864.36		0.00		0.00		0.00		0.00		921,864.36		0.00		440,129,047.46
A-2		296,310,000.00		2.53000	%		292,089,983.04		615,823.05		0.00		0.00		0.00		0.00		615,823.05		0.00		289,690,619.30
X-A		0.00		0.64576	%		738,153,382.89		397,226.57		0.00		0.00		0.00		0.00		397,226.57		0.00		729,819,666.76
X-B		0.00		0.36384	%		23,157,000.00		7,021.23		0.00		0.00		0.00		0.00		7,021.23		0.00		23,157,000.00
B-1		14,915,000.00		2.65000	%		14,915,000.00		32,937.29		0.00		0.00		0.00		0.00		32,937.29		0.00		14,915,000.00
B-2		8,242,000.00		3.02000	%		8,242,000.00		20,742.37		0.00		0.00		0.00		0.00		20,742.37		0.00		8,242,000.00
B-3		4,318,000.00		3.14553	%		4,318,000.00		11,318.67		0.00		0.00		0.00		0.00		11,318.67		0.00		4,318,000.00
B-4		2,355,000.00		3.14553	%		2,355,000.00		6,173.11		0.00		0.00		0.00		0.00		6,173.11		0.00		2,355,000.00
B-5		1,962,000.00		3.14553	%		1,962,000.00		5,142.94		0.00		0.00		0.00		0.00		5,142.94		0.00		1,962,000.00
B-6		3,533,134.00		3.14553	%		3,533,134.00		9,261.32		0.00		0.00		0.00		0.00		9,261.32		0.00		3,533,134.00
A-R		100.00		3.11742	%		0.00		0.00		0.00		0.00		0.00		0.00		0.47		0.00		0.00

Totals		784,999,234.00							2,027,510.91		0.00		0.00		0.00		0.00		2,027,511.38		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		453,364,000.00		2.48000	%		983.89682430		2.03338677		0.00000000		0.00000000		0.00000000		0.00000000		2.03338677		0.00000000		970.80722656
A-2		296,310,000.00		2.53000	%		985.75810145		2.07830667		0.00000000		0.00000000		0.00000000		0.00000000		2.07830667		0.00000000		977.66062333
X-A		0.00		0.64576	%		984.63249745		0.52986574		0.00000000		0.00000000		0.00000000		0.00000000		0.52986574		0.00000000		973.51604399
X-B		0.00		0.36384	%		1000.00000000		0.30320119		0.00000000		0.00000000		0.00000000		0.00000000		0.30320119		0.00000000		1000.00000000
B-1		14,915,000.00		2.65000	%		1000.00000000		2.20833322		0.00000000		0.00000000		0.00000000		0.00000000		2.20833322		0.00000000		1000.00000000
B-2		8,242,000.00		3.02000	%		1000.00000000		2.51666707		0.00000000		0.00000000		0.00000000		0.00000000		2.51666707		0.00000000		1000.00000000
B-3		4,318,000.00		3.14553	%		1000.00000000		2.62127605		0.00000000		0.00000000		0.00000000		0.00000000		2.62127605		0.00000000		1000.00000000
B-4		2,355,000.00		3.14553	%		1000.00000000		2.62127813		0.00000000		0.00000000		0.00000000		0.00000000		2.62127813		0.00000000		1000.00000000
B-5		1,962,000.00		3.14553	%		1000.00000000		2.62127421		0.00000000		0.00000000		0.00000000		0.00000000		2.62127421		0.00000000		1000.00000000
B-6		3,533,134.00		3.14553	%		1000.00000000		2.62127618		0.00000000		0.00000000		0.00000000		0.00000000		2.62127618		0.00000000		1000.00000000
A-R		100.00		3.11742	%		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		4.70000000		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			10,614,080.60
Liquidations, Insurance Proceeds, Reserve Funds			0.00
Proceeds from Repurchased Loans			0.00
Other Amounts (Servicer Advances)			25,496.37
Realized Losses (Gains, Subsequent Expenses & Recoveries)			0.00
Prepayment Penalties			0.00

Total Deposits			10,639,576.97

Withdrawals
Reimbursement for Servicer Advances			30,790.36
Payment of Service Fee			247,559.10
Payment of Interest and Principal			10,361,227.51

Total Withdrawals (Pool Distribution Amount)			10,639,576.97

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			242,080.29
Master Servicing Fee			5,478.81
Supported Prepayment/Curtailment Interest Shortfall			0.00


Net Servicing Fee			247,559.10

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		27			8,949,013.83			30 Days		0			0.00			30 Days		0			0.00			30 Days		0			0.00			30 Days		27			8,949,013.83
60 Days		2			408,800.00			60 Days		0			0.00			60 Days		0			0.00			60 Days		0			0.00			60 Days		2			408,800.00
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

		29			9,357,813.83					0			0.00					0			0.00					0			0.00					29			9,357,813.83

	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		1.213483	%		1.169582	%		30 Days		0.000000	%		0.000000	%		30 Days		0.000000	%		0.000000	%		30 Days		0.000000	%		0.000000	%		30 Days		1.213483	%		1.169582	%
60 Days		0.089888	%		0.053428	%		60 Days		0.000000	%		0.000000	%		60 Days		0.000000	%		0.000000	%		60 Days		0.000000	%		0.000000	%		60 Days		0.089888	%		0.053428	%
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	%

		1.303371	%		1.223010	%				0.000000	%		0.000000	%				0.000000	%		0.000000	%				0.000000	%		0.000000	%				1.303371	%		1.223010	%


Current Period Class A Insufficient Funds:			0.00			Principal Balance of Contaminated Properties			0.00			Periodic Advance			25,496.37


	Original $		Original%			Current $		Current %			Current Class %			Prepayment %

Class A		35,325,134.00		4.50002146	%		35,325,134.00		4.61679069	%		95.383209	%		0.000000	%
Class B-1		20,410,134.00		2.60001961	%		20,410,134.00		2.66748646	%		1.949304	%		42.222062	%
Class B-2		12,168,134.00		1.55008228	%		12,168,134.00		1.59030473	%		1.077182	%		23.331829	%
Class B-3		7,850,134.00		1.00001805	%		7,850,134.00		1.02596711	%		0.564338	%		12.223591	%
Class B-4		5,495,134.00		0.70001775	%		5,495,134.00		0.71818223	%		0.307785	%		6.666641	%
Class B-5		3,533,134.00		0.45008120	%		3,533,134.00		0.46176018	%		0.256422	%		5.554119	%
Class B-6		0.00		0.00000000	%		0.00		0.00000000	%		0.461760	%		10.001757	%

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		19			6,468,408.72			30 Days		0			0.00			30 Days		0			0.00			30 Days		0			0.00			30 Days		19			7,340,373.18
60 Days		0			0.00			60 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			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

		19			6,468,408.72					0			0.00					0			0.00					0			0.00					19			6,468,408.72

	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		1.457055	%		1.401626	%		30 Days		0.000000	%		0.000000	%		30 Days		0.000000	%		0.000000	%		30 Days		0.000000	%		0.000000	%		30 Days		1.457055	%		1.401626	%
60 Days		0.000000	%		0.000000	%		60 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	%		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	%

		1.457055	%		1.401626	%				0.000000	%		0.000000	%				0.000000	%		0.000000	%				0.000000	%		0.000000	%				1.457055	%		1.401626	%


DELINQUENT							BANKRUPTCY								FORECLOSURE								REO								TOTAL
*Pool Two*									1.183654%
	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		8			2,480,605.11			30 Days		0			0.00			30 Days		0			0.00			30 Days		0			0.00			30 Days		8			2,480,605.11
60 Days		2			408,800.00			60 Days		0			0.00			60 Days		0			0.00			60 Days		0			0.00			60 Days		2			408,800.00
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

		10			2,889,405.11					0			0.00					0			0.00					0			0.00					10			2,889,405.11

	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		0.868621	%		0.816921	%		30 Days		0.000000	%		0.000000	%		30 Days		0.000000	%		0.000000	%		30 Days		0.000000	%		0.000000	%		30 Days		0.868621	%		0.816921	%
60 Days		0.217155	%		0.134627	%		60 Days		0.000000	%		0.000000	%		60 Days		0.000000	%		0.000000	%		60 Days		0.000000	%		0.000000	%		60 Days		0.217155	%		0.134627	%
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	%

		1.085776	%		0.951549	%				0.000000	%		0.000000	%				0.000000	%		0.000000	%				0.000000	%		0.000000	%				1.085776	%		0.951549	%

Collateral Statement


Collateral Description	Mixed Arm

Weighted Average Gross Coupon		3.529619	%
Weighted Average Net Coupon		3.154047	%
Weighted Average Pass-Through Rate		3.145547	%
Weighted Average Maturity (Stepdown Calculation)		334

Beginning Scheduled Collateral Loan Count		2,246
Number of Loans Paid in Full		21
Ending Scheduled Collateral Loan Count		2,225

Beginning Scheduled Collateral Balance		773,478,517.78
Ending Scheduled Collateral Balance		765,144,801.65
Ending Actual Collateral Balance at 30-Nov-2004		765,146,097.53

Monthly P&I Constant		2,277,026.76
Special Servicing Fee		0.00
Prepayment Penalties		0.00
Realization Loss Amount		0.00
Cumulative Realized Loss		0.00

Class A Optimal Amount		10,268,630.11

Scheduled Principal		1,956.63
Unscheduled Principal		8,331,759.50


Group	Pool 1		Pool 2		Total

Collateral Description	1 Month LIBOR ARM		6 Month LIBOR ARM		Mixed ARM
Weighted Average Coupon Rate		3.515146		3.551723		3.529619
Weighted Average Net Rate		3.139607		3.176101		3.154047
Pass-Through Rate		3.131107		3.167601		3.145547
Weighted Average Maturity		335		334		334
Record Date		11/30/2004		11/30/2004		11/30/2004
Principal and Interest Constant		1,371,063.30		905,963.46		2,277,026.76
Beginning Loan Count		1,317		929		2,246
Loans Paid in Full		13		8		21
Ending Loan Count		1,304		921		2,225
Beginning Scheduled Balance		467,426,310.73		306,052,207.05		773,478,517.78
Ending Scheduled Balance		461,491,958.34		303,652,843.31		765,144,801.65
Scheduled Principal		1,836.94		119.69		1,956.63
Unscheduled Principal		5,932,515.45		2,399,244.05		8,331,759.50
Scheduled Interest		1,369,226.36		905,843.77		2,275,070.13
Servicing Fee		146,280.41		95,799.88		242,080.29
Master Servicing Fee		3,310.94		2,167.87		5,478.81
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		1,219,635.01		807,876.02		2,027,511.03
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 One
Principal Transfer Amount	0.00
Interest Transfer Amount	0.00
Pro Rata Senior Percent	95.429673	%
Senior Percent	100.000000	%
Senior Prepayment Percent	100.000000	%
Subordinate Percent	0.000000	%
Subordinate Prepayment Percent	0.000000	%

Group Two
Principal Transfer Amount	0.00
Interest Transfer Amount	0.00
Pro Rata Senior Percent	95.437960	%
Senior Percent	100.000000	%
Senior Prepayment Percent	100.000000	%
Subordinate Percent	0.000000	%
Subordinate Prepayment Percent	0.000000	%