Wells Fargo Bank Minnesota, N.A. SMT Series 2005-3 Certificateholder Distribution Statement (June 2005)

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2005-3 trust. It summarizes the principal and interest payments made to certificateholders as of June 30, 2005, with distributions occurring on July 20, 2005. The statement details the amounts distributed to each class of certificates, the remaining balances, and confirms that all calculations were made in accordance with the Pooling and Servicing Agreement. No realized losses or interest shortfalls are reported for this period.

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EX-10.1 2 f11512dexv10w1.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 2005-3 RECORD DATE: JUNE 30, 2005 DISTRIBUTION DATE: JULY 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution - ----- --------- ----------- ------------ -------------- ------------ ------------- A-R 81744FHN0 SEN 4.29702% 0.00 0.00 0.00 A-1 81744FHK6 SEN 3.46000% 334,739,962.47 965,166.89 10,790,032.12 B-1 81744FHP5 SUB 3.63000% 6,208,000.00 18,779.20 0.00 B-2 81744FHQ3 SUB 3.90000% 3,287,000.00 10,682.75 0.00 B-3 81744FHR1 SUB 4.03464% 2,374,000.00 7,981.86 0.00 B-4 81744FHS9 SUB 4.03464% 1,095,000.00 3,681.61 0.00 B-5 81744FHT7 SUB 4.03464% 731,000.00 2,457.77 0.00 B-6 81744FHU4 SUB 4.03464% 1,826,168.26 6,139.94 0.00 X-A 81744FHL4 IO 0.57464% 0.00 160,294.73 0.00 X-B 81744FHM2 IO 0.31117% 0.00 2,462.11 0.00 -------------- ------------ ------------- Totals 350,261,130.73 1,177,646.86 10,790,032.12 -------------- ------------ ------------- Ending Current Realized Certificate Total Cumulative Realized Class Loss Balance Distribution Loss - ----- ---------------- -------------- ------------- ------------------- A-R 0.00 0.00 0.00 0.00 A-1 0.00 323,949,930.35 11,755,199.01 0.00 B-1 0.00 6,208,000.00 18,779.20 0.00 B-2 0.00 3,287,000.00 10,682.75 0.00 B-3 0.00 2,374,000.00 7,981.86 0.00 B-4 0.00 1,095,000.00 3,681.61 0.00 B-5 0.00 731,000.00 2,457.77 0.00 B-6 0.00 1,826,168.26 6,139.94 0.00 X-A 0.00 0.00 160,294.73 0.00 X-B 0.00 0.00 2,462.11 0.00 ---- -------------- ------------- ---- Totals 0.00 339,471,098.61 11,967,678.98 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 Class Amount Balance Distribution Distribution Accretion Loss (1) - ------ -------------- -------------- ------------ ------------- --------- -------- A-R 100.00 0.00 0.00 0.00 0.00 0.00 A-1 349,687,000.00 334,739,962.47 3,120.03 10,786,912.09 0.00 0.00 B-1 6,208,000.00 6,208,000.00 0.00 0.00 0.00 0.00 B-2 3,287,000.00 3,287,000.00 0.00 0.00 0.00 0.00 B-3 2,374,000.00 2,374,000.00 0.00 0.00 0.00 0.00 B-4 1,095,000.00 1,095,000.00 0.00 0.00 0.00 0.00 B-5 731,000.00 731,000.00 0.00 0.00 0.00 0.00 B-6 1,826,168.26 1,826,168.26 0.00 0.00 0.00 0.00 X-A 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 -------------- -------------- -------- ------------- ---- ---- Totals 365,208,268.26 350,261,130.73 3,120.03 10,786,912.09 0.00 0.00 -------------- -------------- -------- ------------- ---- ---- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ------ --------------- ------------------ ------------------ --------------- A-R 0.00 0.00 0.00000000 0.00 A-1 10,790,032.12 323,949,930.35 0.92639970 10,790,032.12 B-1 0.00 6,208,000.00 1.00000000 0.00 B-2 0.00 3,287,000.00 1.00000000 0.00 B-3 0.00 2,374,000.00 1.00000000 0.00 B-4 0.00 1,095,000.00 1.00000000 0.00 B-5 0.00 731,000.00 1.00000000 0.00 B-6 0.00 1,826,168.26 1.00000000 0.00 X-A 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 ------------- -------------- ---------- ------------- Totals 10,790,032.12 339,471,098.61 0.92952742 10,790,032.12 ------------- -------------- ---------- -------------
(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 Certificate Principal Principal Realized Class Face Amount Balance Distribution Distribution Accretion Loss (3) - ----- -------------- ------------- ------------ ------------ ---------- ---------- A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 349,687,000.00 957.25595310 0.00892235 30.84733516 0.00000000 0.00000000 B-1 6,208,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 3,287,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 2,374,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,095,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 731,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,826,168.26 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution - ----- ----------- ------------- ----------- ------------ A-R 0.00000000 0.00000000 0.00000000 0.00000000 A-1 30.85625751 926.39969558 0.92639970 30.85625751 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000 X-A 0.00000000 0.00000000 0.00000000 0.00000000 X-B 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 Current Certificate/ Current Unpaid Current Original Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall - ------ -------------- ----------- -------------- ------------ ---------- --------- A-R 100.00 4.29702% 0.00 0.00 0.00 0.00 A-1 349,687,000.00 3.46000% 334,739,962.47 965,166.89 0.00 0.00 B-1 6,208,000.00 3.63000% 6,208,000.00 18,779.20 0.00 0.00 B-2 3,287,000.00 3.90000% 3,287,000.00 10,682.75 0.00 0.00 B-3 2,374,000.00 4.03464% 2,374,000.00 7,981.86 0.00 0.00 B-4 1,095,000.00 4.03464% 1,095,000.00 3,681.61 0.00 0.00 B-5 731,000.00 4.03464% 731,000.00 2,457.77 0.00 0.00 B-6 1,826,168.26 4.03464% 1,826,168.26 6,139.94 0.00 0.00 X-A 0.00 0.57464% 334,739,962.47 160,294.73 0.00 0.00 X-B 0.00 0.31117% 9,495,000.00 2,462.11 0.00 0.00 -------------- ------------ ---- ---- Totals 365,208,268.26 1,177,646.86 0.00 0.00 -------------- ------------ ---- ---- Remaining Ending Non-Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - ------ ------------- -------- -------------- ----------- -------------- A-R 0.00 0.00 0.00 0.00 0.00 A-1 0.00 0.00 965,166.89 0.00 323,949,930.35 B-1 0.00 0.00 18,779.20 0.00 6,208,000.00 B-2 0.00 0.00 10,682.75 0.00 3,287,000.00 B-3 0.00 0.00 7,981.86 0.00 2,374,000.00 B-4 0.00 0.00 3,681.61 0.00 1,095,000.00 B-5 0.00 0.00 2,457.77 0.00 731,000.00 B-6 0.00 0.00 6,139.94 0.00 1,826,168.26 X-A 0.00 0.00 160,294.73 0.00 323,949,930.35 X-B 0.00 0.00 2,462.11 0.00 9,495,000.00 ---- ---- ------------ ---- Totals 0.00 0.00 1,177,646.86 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 Current Unpaid Current Supported Class Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ----- --------------- ----------- ---------------- ---------- ---------- ---------- ---------- ---------- A-R 100.00 4.29702% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 349,687,000.00 3.46000% 957.25595310 2.76008799 0.00000000 0.00000000 0.00000000 0.00000000 B-1 6,208,000.00 3.63000% 1000.00000000 3.02500000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 3,287,000.00 3.90000% 1000.00000000 3.25000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 2,374,000.00 4.03464% 1000.00000000 3.36219882 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,095,000.00 4.03464% 1000.00000000 3.36220091 0.00000000 0.00000000 0.00000000 0.00000000 B-5 731,000.00 4.03464% 1000.00000000 3.36220246 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,826,168.26 4.03464% 1000.00000000 3.36219840 0.00000000 0.00000000 0.00000000 0.00000000 X-A 0.00 0.57464% 957.25595310 0.45839488 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.31117% 1000.00000000 0.25930595 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Total Unpaid Class Original Face Interest Interest Ending Certificate/ (5) Amount Distribution Shortfall Notational Balance - ----- --------------- ------------ ---------- -------------------- A-R 100.00 0.00000000 0.00000000 0.00000000 A-1 349,687,000.00 2.76008799 0.00000000 926.39969558 B-1 6,208,000.00 3.02500000 0.00000000 1000.00000000 B-2 3,287,000.00 3.25000000 0.00000000 1000.00000000 B-3 2,374,000.00 3.36219882 0.00000000 1000.00000000 B-4 1,095,000.00 3.36220091 0.00000000 1000.00000000 B-5 731,000.00 3.36220246 0.00000000 1000.00000000 B-6 1,826,168.26 3.36219840 0.00000000 1000.00000000 X-A 0.00 0.45839488 0.00000000 926.39969558 X-B 0.00 0.25930595 0.00000000 1000.00000000
(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 12,090,147.25 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 7,701.53 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 12,097,218.78 ------------- Withdrawals Reimbursement for Servicer Advances 14,634.51 Payment of Service Fee 114,905.29 Payment of Interest and Principal 11,967,678.98 ------------- Total Withdrawals (Pool Distribution Amount) 12,097,218.78 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 110,089.20 Master Servicing Fee 4,816.09 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 114,905.29 ==========
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
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 6 1,943,478.40 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 6 1,943,478.40
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.592885% 0.572497% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.592885% 0.572497%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 6 1,943,478.40 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 6 1,943,478.40
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.592885% 0.572497% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.592885% 0.572497%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 7,071.53
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 4.428303% Weighted Average Net Coupon 4.051136% Weighted Average Pass-Through Rate 4.034636% Weighted Average Maturity (Stepdown Calculation) 335 Beginning Scheduled Collateral Loan Count 1,039 Number of Loans Paid in Full 27 Ending Scheduled Collateral Loan Count 1,012 Beginning Scheduled Collateral Balance 350,261,130.73 Ending Scheduled Collateral Balance 339,471,098.61 Ending Actual Collateral Balance at 30-June-2005 339,474,256.09 Monthly P&I Constant 1,295,672.11 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 3,120.03 Unscheduled Principal 10,786,912.09
MISCELLANEOUS REPORTING Senior Percentage 100% Senior Prepayment Percentage 100% Subordinate Prepayment Percentage 0.000000% Subordinate Percentage 0.000000%