EXHIBIT 10.1

EX-10.1 2 f20437cexv10w1.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: March 31, 2006
Distribution Date: April 20, 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		5.32976	%		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A-1		81744FHK6	SEN		4.97625	%		218,339,613.89		902,024.46		10,410,129.34		0.00		207,929,484.55		11,312,153.80		0.00
B-1		81744FHP5	SUB		5.14625	%		6,208,000.00		26,523.22		0.00		0.00		6,208,000.00		26,523.22		0.00
B-2		81744FHQ3	SUB		5.41625	%		3,287,000.00		14,780.26		0.00		0.00		3,287,000.00		14,780.26		0.00
B-3		81744FHR1	SUB		5.80424	%		2,374,000.00		11,439.57		0.00		0.00		2,374,000.00		11,439.57		0.00
B-4		81744FHS9	SUB		5.80424	%		1,095,000.00		5,276.47		0.00		0.00		1,095,000.00		5,276.47		0.00
B-5		81744FHT7	SUB		5.80424	%		731,000.00		3,522.46		0.00		0.00		731,000.00		3,522.46		0.00
B-6		81744FHU4	SUB		5.80424	%		1,826,168.25		8,799.74		0.00		0.00		1,826,168.26		8,799.74		0.00
X-A		81744FHL4	IO		0.82799	%		0.00		150,086.56		0.00		0.00		0.00		150,086.56		0.00
X-B		81744FHM2	IO		0.56452	%		0.00		4,449.99		0.00		0.00		0.00		4,449.99		0.00

Totals								233,860,782.15		1,126,902.73		10,410,129.34		0.00		223,450,652.81		11,537,032.07		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		218,339,613.89		1,588.94		10,408,540.40		0.00		0.00		10,410,129.34		207,929,484.55		0.59461600		10,410,129.34
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		233,860,782.15		1,588.94		10,408,540.40		0.00		0.00		10,410,129.34		223,450,652.81		0.61184445		10,410,129.34

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		624.38584760		0.00454389		29.76530554		0.00000000		0.00000000		29.76984944		594.61599816		0.59461600		29.76984944
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	5.32976%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A-1	03/20/06 – 04/19/06	30	4.97625%		218,339,613.89		905,427.09		0.00		0.00		3,402.63		902,024.46		0.00		207,929,484.55
B-1	03/20/06 – 04/19/06	30	5.14625%		6,208,000.00		26,623.27		0.00		0.00		100.05		26,523.22		0.00		6,208,000.00
B-2	03/20/06 – 04/19/06	30	5.41625%		3,287,000.00		14,836.01		0.00		0.00		55.75		14,780.26		0.00		3,287,000.00
B-3	03/01/06 – 03/30/06	30	5.80424%		2,374,000.00		11,482.72		0.00		0.00		43.15		11,439.57		0.00		2,374,000.00
B-4	03/01/06 – 03/30/06	30	5.80424%		1,095,000.00		5,296.37		0.00		0.00		19.90		5,276.47		0.00		1,095,000.00
B-5	03/01/06 – 03/30/06	30	5.80424%		731,000.00		3,535.75		0.00		0.00		13.29		3,522.46		0.00		731,000.00
B-6	03/01/06 – 03/30/06	30	5.80424%		1,826,168.26		8,832.93		0.00		0.00		33.19		8,799.74		0.00		1,826,168.26
X-A	03/01/06 – 03/30/06	30	0.82799%		218,339,613.89		150,652.72		0.00		0.00		566.16		150,086.56		0.00		207,929,484.55
X-B	03/01/06 – 03/30/06	30	0.56452%		9,495,000.00		4,466.78		0.00		0.00		16.79		4,449.99		0.00		9,495,000.00

Totals							1,131,153.64		0.00		0.00		4,250.91		1,126,902.73		0.00

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

Interest Distribution Factors Statement



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

A-R		100.00		5.32976	%		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000
A-1		349,687,000.00		4.97625	%		624.38584760		2.58925007		0.00000000		0.00000000		0.00973050		2.57951957		0.00000000		594.61599816
B-1		6,208,000.00		5.14625	%		1000.00000000		4.28854220		0.00000000		0.00000000		0.01611630		4.27242590		0.00000000		1000.00000000
B-2		3,287,000.00		5.41625	%		1000.00000000		4.51354122		0.00000000		0.00000000		0.01696075		4.49658047		0.00000000		1000.00000000
B-3		2,374,000.00		5.80424	%		1000.00000000		4.83686605		0.00000000		0.00000000		0.01817607		4.81868997		0.00000000		1000.00000000
B-4		1,095,000.00		5.80424	%		1000.00000000		4.83686758		0.00000000		0.00000000		0.01817352		4.81869406		0.00000000		1000.00000000
B-5		731,000.00		5.80424	%		1000.00000000		4.83686731		0.00000000		0.00000000		0.01818057		4.81868673		0.00000000		1000.00000000
B-6		1,826,168.26		5.80424	%		1000.00000000		4.83686536		0.00000000		0.00000000		0.01817467		4.81869069		0.00000000		1000.00000000
X-A		0.00		0.82799	%		624.38584760		0.43082162		0.00000000		0.00000000		0.00161905		0.42920257		0.00000000		594.61599816
X-B		0.00		0.56452	%		1000.00000000		0.47043497		0.00000000		0.00000000		0.00176830		0.46866667		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			11,624,448.09
Reserve Funds and Credit Enhancements			0.00
Proceeds from Repurchased Loans			0.00
Servicer Advances			16,759.13
Realized Loss (Gains, Subsequent Expenses & Recoveries)			0.00
Prepayment Penalties			0.00
Swap/Cap Payments			0.00

Total Deposits			11,641,207.22

Withdrawals
Reserve Funds and Credit Enhancements			0.00
Reimbursement of Servicer Advances			27,491.90
Total Administration Fees			76,683.25
Payment of Interest and Principal			11,537,032.07

Total Withdrawals (Pool Distribution Amount)			11,641,207.22

Ending Balance			0.00

Prepayment/Curtailment Interest Shortfall


Total Prepayment/Curtailment Interest Shortfall			4,250.91
Servicing Fee Support			0.00


Non-Supported Prepayment Curtailment Interest Shortfall			4,250.91

Administration Fees


Gross Servicing Fee*			73,467.66
Master Servicing Fee			3,215.59
Supported Prepayment/Curtailment Interest Shortfall			0.00


Total Administration Fees			76,683.25


*		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		6.197722	%
Weighted Average Net Coupon		5.820741	%
Weighted Average Pass-Through Rate		5.804241	%
Weighted Average Remaining Term		326

Beginning Scheduled Collateral Loan Count		682
Number of Loans Paid in Full		33
Ending Scheduled Collateral Loan Count		649

Beginning Scheduled Collateral Balance		233,860,782.15
Ending Scheduled Collateral Balance		223,450,652.81
Ending Actual Collateral Balance at 31-Mar-2006		223,451,799.06

Monthly P&I Constant		1,209,425.79
Special Servicing Fee		0.00
Prepayment Penalty Waived Amount		0.00
Prepayment Penalty Waived Count		0
Prepayment Penalty Paid Amount		0.00
Prepayment Penalty Paid Count		0
Realized Loss Amount		0.00
Cumulative Realized Loss		0.00

Scheduled Principal		1,588.94
Unscheduled Principal		10,408,540.40

Additional Reporting – Deal Level

Miscellaneous Reporting


Senior Percentage	93.363073	%
Senior Prepayment Percentage	100.000000	%
Subordinate Prepayment Percentage	0.000000	%
Subordinate Percentage	6.636927	%

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	5		2,334,230.79		30 Days	0		0.00		30 Days	0		0.00		30 Days	0		0.00		30 Days	5		2,334,230.79
60 Days	2		459,563.82		60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00		60 Days	2		459,563.82
90 Days	1		545,028.00		90 Days	0		0.00		90 Days	0		0.00		90 Days	0		0.00		90 Days	1		545,028.00
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

	8		3,338,822.61			0		0.00			0		0.00			0		0.00			8		3,338,822.61

	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	0.770416%		1.044624	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	0.770416%		1.044624	%
60 Days	0.308166%		0.205666	%	60 Days	0.000000%		0.000000	%	60 Days	0.000000%		0.000000	%	60 Days	0.000000%		0.000000	%	60 Days	0.308166%		0.205666	%
90 Days	0.154083%		0.243913	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.154083%		0.243913	%
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	%

	1.232666%		1.494203	%		0.000000%		0.000000	%		0.000000%		0.000000	%		0.000000%		0.000000	%		1.232666%		1.494203	%


Current Period Class A Insufficient Funds:			0.00			Principal Balance of Contaminated Properties					0.00			Periodic Advance					16,759.13