Wells Fargo Bank Minnesota, N.A. SMT Series 2005-3 Certificateholder Distribution Summary (April 2006)

Summary

This document is a distribution summary prepared by Wells Fargo Bank Minnesota, N.A. for certificateholders of the SMT Series 2005-3 trust. It details the interest and principal payments made to holders of various classes of certificates as of April 28, 2006, with distributions occurring on May 22, 2006. The summary includes payment amounts, outstanding balances, and interest rates for each class, as well as information on account activity and fees. The report is intended to inform investors of the financial status and recent distributions related to their investment certificates.

EX-10.1 2 f21141eexv10w1.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 2005-3
Record Date: April 28, 2006
Distribution Date: May 22, 2006

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-R	81744FHN0	SEN		5.26717	%		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A-1	81744FHK6	SEN		5.12250	%		207,929,484.55		887,395.78		12,022,888.50		0.00		195,906,596.05		12,910,284.28		0.00
B-1	81744FHP5	SUB		5.29250	%		6,208,000.00		27,373.60		0.00		0.00		6,208,000.00		27,373.60		0.00
B-2	81744FHQ3	SUB		5.56250	%		3,287,000.00		15,233.13		0.00		0.00		3,287,000.00		15,233.13		0.00
B-3	81744FHR1	SUB		5.92798	%		2,374,000.00		11,724.84		0.00		0.00		2,374,000.00		11,724.84		0.00
B-4	81744FHS9	SUB		5.92798	%		1,095,000.00		5,408.04		0.00		0.00		1,095,000.00		5,408.04		0.00
B-5	81744FHT7	SUB		5.92798	%		731,000.00		3,610.30		0.00		0.00		731,000.00		3,610.30		0.00
B-6	81744FHU4	SUB		5.92798	%		1,826,168.26		9,019.18		0.00		0.00		1,826,168.26		9,019.18		0.00
X-A	81744FHL4	IO		0.80548	%		0.00		139,537.53		0.00		0.00		0.00		139,537.53		0.00
X-B	81744FHM2	IO		0.54201	%		0.00		4,287.69		0.00		0.00		0.00		4,287.69		0.00

Totals							223,450,652.81		1,103,590.09		12,022,888.50		0.00		211,427,764.31		13,126,478.59		0.00

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		Reduction		Balance		Percentage		Distribution

A-R		100.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00000000		0.00
A-1		349,687,000.00		207,929,484.55		1,573.71		12,021,314.79		0.00		0.00		12,022,888.50		195,906,596.05		0.56023414		12,022,888.50
B-1		6,208,000.00		6,208,000.00		0.00		0.00		0.00		0.00		0.00		6,208,000.00		1.00000000		0.00
B-2		3,287,000.00		3,287,000.00		0.00		0.00		0.00		0.00		0.00		3,287,000.00		1.00000000		0.00
B-3		2,374,000.00		2,374,000.00		0.00		0.00		0.00		0.00		0.00		2,374,000.00		1.00000000		0.00
B-4		1,095,000.00		1,095,000.00		0.00		0.00		0.00		0.00		0.00		1,095,000.00		1.00000000		0.00
B-5		731,000.00		731,000.00		0.00		0.00		0.00		0.00		0.00		731,000.00		1.00000000		0.00
B-6		1,826,168.26		1,826,168.26		0.00		0.00		0.00		0.00		0.00		1,826,168.26		1.00000000		0.00
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

Totals		365,208,268.26		223,450,652.81		1,573.71		12,021,314.79		0.00		0.00		12,022,888.50		211,427,764.31		0.57892382		12,022,888.50

Principal Distribution Factors Statement



			Beginning		Scheduled		Unscheduled										Ending
	Original Face		Certificate		Principal		Principal				Realized		Total Principal		Ending Certificate		Certificate		Total Principal
Class	Amount		Balance		Distribution		Distribution		Accretion		Loss		Reduction		Balance		Percentage		Distribution

A-R		100.00		0.00000000		0.00000000		0.0000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000
A-1		349,687,000.00		594.61599816		0.00450034		34.37735686		0.00000000		0.00000000		34.38185720		560.23414096		0.45023414		34.38185720
B-1		6,208,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-2		3,287,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-3		2,374,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-4		1,095,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-5		731,000.00		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
B-6		1,826,168.26		1000.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1000.00000000		1.00000000		0.00000000
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

Interest Distribution- Statement



								Payment
								of				Non-				Remaining		Ending
			Current	Beginning		Current		Unpaid		Current		Supported				Unpaid		Certificate/
		Accrual	Certificate	Certificate/		Accrued		Interest		Interest		Interest		Total Interest		Interest		Notational
Class	Accural Dates	Days	Rate	Notional Balance		Interest		Shortfall		Shortfall		Shortfall(1)		Distribution		Shortfall(2)		Balance

A-R	N/A	N/A	5.26717%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A-1	04/20/06 – 05/19/06	30	5.12250%		207,929,484.55		887,598.99		0.00		0.00		203.20		887,395.78		0.00		195,906,596.05
B-1	04/20/06 – 05/19/06	30	5.29250%		6,208,000.00		27,379.87		0.00		0.00		6.27		27,373.60		0.00		6,208,000.00
B-2	04/20/06 – 05/19/06	30	5.56250%		3,287,000.00		15,236.61		0.00		0.00		3.49		15,233.13		0.00		3,287,000.00
B-3	04/01/06 – 04/30/06	30	5.92798%		2,374,000.00		11,727.52		0.00		0.00		2.68		11,724.84		0.00		2,374,000.00
B-4	04/01/06 – 04/30/06	30	5.92798%		1,095,000.00		5,409.28		0.00		0.00		1.24		5,408.04		0.00		1,095,000.00
B-5	04/01/06 – 04/30/06	30	5.92798%		731,000.00		3,611.13		0.00		0.00		0.83		3,610.30		0.00		731,000.00
B-6	04/01/06 – 04/30/06	30	5.92798%		1,826,168.26		9,021.24		0.00		0.00		2.07		9,019.18		0.00		1,826,168.26
X-A	04/01/06 – 04/30/06	30	0.80548%		207,929,484.55		139,569.48		0.00		0.00		31.95		139,537.53		0.00		195,906,596.05
X-B	04/01/06 – 04/30/06	30	0.54201%		9,495,000.00		4,288.67		0.00		0.00		0.98		4,287.69		0.00		9,495,000.00

Totals							1,103,842.79		0.00		0.00		252.71		1,103,590.09		0.00

(1, 2) Amount also includes coupon cap or basis risk shortfalls, if applicable.

Interest Distribution Factors Statement



				Beginning			Payment of									Ending
			Current	Certificate/			Unpaid			Non-Supported				Remaining		Certificate/
	Original Face		Certificate	Notional		Current Accrued	Interest		Current Interest	Interest		Total Interest		Unpaid Interest		Notational
Class	Amount		Rate	Balance		Interest	Shortfall		Shortfall(1)	Shortfall		Distribution		Shortfall(2)		Balance

A-R		100.00	5.26717%		0.00000000	0.00000000		0.00000000	0.00000000		0.00000000		0.00000000		0.00000000		0.00000000
A-1		349,687,000.00	5.12250%		594.61599816	2.53826705		0.00000000	0.00000000		0.00058109		2.53768593		0.00000000		560.23414096
B-1		6,208,000.00	5.29250%		1000.00000000	4.41041720		0.00000000	0.00000000		0.00100999		4.40940722		0.00000000		1000.00000000
B-2		3,287,000.00	5.56250%		1000.00000000	4.63541527		0.00000000	0.00000000		0.00106176		4.63435656		0.00000000		1000.00000000
B-3		2,374,000.00	5.92798%		1000.00000000	4.93998315		0.00000000	0.00000000		0.00112890		4.93885425		0.00000000		1000.00000000
B-4		1,095,000.00	5.92798%		1000.00000000	4.93998174		0.00000000	0.00000000		0.00113242		4.93884932		0.00000000		1000.00000000
B-5		731,000.00	5.92798%		1000.00000000	4.93998632		0.00000000	0.00000000		0.00113543		4.93885089		0.00000000		1000.00000000
B-6		1,826,168.26	5.92798%		1000.00000000	4.93998291		0.00000000	0.00000000		0.00113352		4.93885487		0.00000000		1000.00000000
X-A		0.00	0.80548%		594.61599816	0.39912688		0.00000000	0.00000000		0.00009137		0.39903551		0.00000000		560.23414096
X-B		0.00	0.54201%		1000.00000000	0.45167667		0.00000000	0.00000000		0.00010321		0.45157346		0.00000000		1000.00000000

(1, 2) Amount also includes coupon cap or basis risk shortfalls, if applicable.
Per $1 denomination

Certificateholder Account Statement

Certificate Account


Beginning Balance			0.00

Deposits
Payments of Interest and Principal			13,191,527.36
Reserve Funds and Credit Enhancements			0.00
Proceeds from Repurchased Loans			0.00
Servicer Advances			24,923.13
Gains & Subsequent Recoveries (Realized Losses)			0.00
Prepayment Penalties			0.00

Total Deposits			13,216,450.49

Withdrawals
Reserve Funds and Credit Enhancements			0.00
Reimbursement of Servicer Advances			16,759.13
Total Administration Fees			73,212.77
Payment of Interest and Principal			13,126,478.59

Total Withdrawals (Pool Distribution Amount)			13,216,450.49

Ending Balance			0.00

Prepayment/Curtailment Interest Shortfall


Total Prepayment/Curtailment Interest Shortfall			252.71
Servicing Fee Support			0.00


Non-Supported Prepayment Curtailment Interest Shortfall			252.71

Administration Fees


Gross Servicing Fee*			70,140.32
Master Servicing Fee			3,072.45
Supported Prepayment/Curtailment Interest Shortfall			0.00


Total Administration Fees			73,212.77


*		Servicer Payees include: BANK OF AMERICA (NY); GMAC MTG CORP; MORGAN STANLEY DEAN WITTER; NATIONAL CITY MTG CO; PHH US MTG CORP; RESIDENTIAL FUNDING CORP

Other Accounts


	Beginning		Current		Current		Ending
Account Type	Balance		Withdrawals		Deposits		Balance

Reserve Fund		5,000.00		0.00		0.00		5,000.00
Reserve Fund		5,000.00		0.00		0.00		5,000.00

Collateral Statement


Collateral Description	Mixed ARM

Weighted Average Gross Coupon		6.321157	%
Weighted Average Net Coupon		5.944481	%
Weighted Average Pass-Through Rate		5.927981	%
Weighted Average Remaining Term		325

Beginning Scheduled Collateral Loan Count		649
Number of Loans Paid in Full		28
Ending Scheduled Collateral Loan Count		621

Beginning Scheduled Collateral Balance		223,450,652.81
Ending Scheduled Collateral Balance		211,427,764.31
Ending Actual Collateral Balance at 28-Apr-2006		211,428,666.44

Monthly P&I Constant		1,178,629.20
Special Servicing Fee		0.00
Prepayment Penalty Paid Amount		0.00
Prepayment Penalty Paid Count		0
Realized Loss Amount		0.00
Cumulative Realized Loss		0.00

Scheduled Principal		1,573.71
Unscheduled Principal		12,021,314.79

Additional Reporting – Deal Level

Miscellaneous Reporting


Senior Percentage	95.053872	%
Senior Prepayment Percentage	100.000000	%
Subordinate Prepayment Percentage	0.000000	%
Subordinate Percentage	6.946128	%

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	11		3,987,130.27		30 Days	0		0.00		30 Days	0		0.00		30 Days	0		0.00			30 Days	11		3,987,130.27
60 Days	1		359,649.24		60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00			60 Days	1		359,649.24
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		545,028.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00			120 Days	1		545,028.00
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

	13		4,891,807.51			0		0.00			0		0.00			0		0.00				13		4,891,807.51

	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	1.771337%		1.885804	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%		30 Days	1.771337%		1.885804	%
60 Days	0.161031%		0.170104	%	60 Days	0.000000%		0.000000	%	60 Days	0.000000%		0.000000	%	60 Days	0.000000%		0.000000	%		60 Days	0.161031%		0.170104	%
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	0.161031%		0.257783	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%		120 Days	0.161031%		0.257783	%
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	%

	2.093398%		2.313692	%		0.000000%		0.000000	%		0.000000%		0.000000	%		0.000000%		0.000000	%			2.093398%		2.313692	%


Current Period Class A Insufficient Funds:			0.00			Principal Balance of Contaminated Properties			0.00			Periodic Advance			24,923.13