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

Summary

This document is a distribution statement 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 February 28, 2006, with distributions occurring on March 20, 2006. The statement includes balances, payment amounts, and realized losses for each class. It serves as a financial report to investors, summarizing the trust's payment activity and current status of the certificates.

EX-10.1 2 f19541cexv10w1.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: February 28, 2006
Distribution Date: March 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		5.37044	%		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A-1	81744FHK6	SEN		4.77000	%		227,725,448.16		904,712.35		9,385,834.27		0.00		218,339,613.89		10,290,546.62		0.00
B-1	81744FHP5	SUB		4.94000	%		6,208,000.00		25,542.25		0.00		0.00		6,208,000.00		25,542.25		0.00
B-2	81744FHQ3	SUB		5.21000	%		3,287,000.00		14,263.23		0.00		0.00		3,287,000.00		14,263.23		0.00
B-3	81744FHR1	SUB		5.53710	%		2,374,000.00		10,948.22		0.00		0.00		2,374,000.00		10,948.22		0.00
B-4	81744FHS9	SUB		5.53710	%		1,095,000.00		5,049.83		0.00		0.00		1,095,000.00		5,049.83		0.00
B-5	81744FHT7	SUB		5.53710	%		731,000.00		3,371.17		0.00		0.00		731,000.00		3,371.17		0.00
B-6	81744FHU4	SUB		5.53710	%		1,826,168.26		8,421.78		0.00		0.00		1,826,168.26		8,421.78		0.00
X-A	81744FHL4	IO		0.76710	%		0.00		145,493.76		0.00		0.00		0.00		145,493.76		0.00
X-B	81744FHM2	IO		0.50363	%		0.00		3,982.80		0.00		0.00		0.00		3,982.80		0.00

Totals							243,246,616.42		1,121,785.39		9,385,834.27		0.00		233,860,782.15		10,507,619.66		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		227,725,448.16		1,604.27		9,384,230.00		0.00		0.00		9,385,834.27		218,339,613.89		0.62438585		9,385,834.27
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		243,246,616.42		1,604.27		9,384,230.00		0.00		0.00		9,385,834.27		233,860,782.15		0.64034909		9,385,834.27

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		651.22652017		0.00458773		26.83608484		0.00000000		0.00000000		26.84067257		624.38584760		0.62438585		26.84067257
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		5.37044	%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A-1	02/20/06 – 03/19/06		30		4.77000	%		227,725,448.16		905,208.66		0.00		0.00		496.31		904,712.35		0.00		218,339,613.89
B-1	02/20/06 – 03/19/06		30		4.94000	%		6,208,000.00		25,556.27		0.00		0.00		14.01		25,542.25		0.00		6,208,000.00
B-2	02/20/06 – 03/19/06		30		5.21000	%		3,287,000.00		14,271.06		0.00		0.00		7.82		14,263.23		0.00		3,287,000.00
B-3	02/01/06 – 02/28/06		30		5.53710	%		2,374,000.00		10,954.23		0.00		0.00		6.01		10,948.22		0.00		2,374,000.00
B-4	02/01/06 – 02/28/06		30		5.53710	%		1,095,000.00		5,052.60		0.00		0.00		2.77		5,049.83		0.00		1,095,000.00
B-5	02/01/06 – 02/28/06		30		5.53710	%		731,000.00		3,373.02		0.00		0.00		1.85		3,371.17		0.00		731,000.00
B-6	02/01/06 – 02/28/06		30		5.53710	%		1,826,168.26		8,426.40		0.00		0.00		4.62		8,421.78		0.00		1,826,168.26
X-A	02/01/06 – 02/28/06		30		0.76710	%		227,725,448.16		145,573.58		0.00		0.00		79.82		145,493.76		0.00		218,339,613.89
X-B	02/01/06 – 02/28/06		30		0.50363	%		9,495,000.00		3,984.98		0.00		0.00		2.18		3,982.80		0.00		9,495,000.00

Totals										1,122,400.80		0.00		0.00		615.39		1,121,785.39		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		5.37044	%		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000
A-1		349,687,000.00		4.77000	%		651.22652017		2.58862543		0.00000000		0.00000000		0.00141930		2.58720613		0.00000000		624.38584760
B-1		6,208,000.00		4.94000	%		1000.00000000		4.11666720		0.00000000		0.00000000		0.00225677		4.11440883		0.00000000		1000.00000000
B-2		3,287,000.00		5.21000	%		1000.00000000		4.34166717		0.00000000		0.00000000		0.00237907		4.33928506		0.00000000		1000.00000000
B-3		2,374,000.00		5.53710	%		1000.00000000		4.61425021		0.00000000		0.00000000		0.00253159		4.61171862		0.00000000		1000.00000000
B-4		1,095,000.00		5.53710	%		1000.00000000		4.61424658		0.00000000		0.00000000		0.00252968		4.61171689		0.00000000		1000.00000000
B-5		731,000.00		5.53710	%		1000.00000000		4.61425170		0.00000000		0.00000000		0.00253078		4.61172367		0.00000000		1000.00000000
B-6		1,826,168.26		5.53710	%		1000.00000000		4.61425445		0.00000000		0.00000000		0.00252989		4.61172181		0.00000000		1000.00000000
X-A		0.00		0.76710	%		651.22652017		0.41629680		0.00000000		0.00000000		0.00022826		0.41606854		0.00000000		624.38584760
X-B		0.00		0.50363	%		1000.00000000		0.41969247		0.00000000		0.00000000		0.00022959		0.41946288		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			10,575,292.94
Reserve Funds and Credit Enhancements			0.00
Proceeds from Repurchased Loans			0.00
Servicer Advances			27,491.90
Realized Loss (Gains, Subsequent Expenses & Recoveries)			0.00
Prepayment Penalties			0.00
Swap/Cap Payments			0.00

Total Deposits			10,602,784.84

Withdrawals
Reserve Funds and Credit Enhancements			0.00
Reimbursement of Servicer Advances			15,419.78
Total Administration Fees			79,745.40
Payment of Interest and Principal			10,507,619.66

Total Withdrawals (Pool Distribution Amount)			10,602,784.84

Ending Balance			0.00

Prepayment/Curtailment Interest Shortfall


Total Prepayment/Curtailment Interest Shortfall			615.39
Servicing Fee Support			0.00


Non-Supported Prepayment Curtailment Interest Shortfall			615.39

Administration Fees


Gross Servicing Fee*			76,400.76
Master Servicing Fee			3,344.64
Supported Prepayment/Curtailment Interest Shortfall			0.00


Total Administration Fees			79,745.40

*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		5.930505	%
Weighted Average Net Coupon		5.553600	%
Weighted Average Pass-Through Rate		5.537100	%
Weighted Average Remaining Term		327

Beginning Scheduled Collateral Loan Count		716
Number of Loans Paid in Full		34
Ending Scheduled Collateral Loan Count		682

Beginning Scheduled Collateral Balance		243,246,616.42
Ending Scheduled Collateral Balance		233,860,782.15
Ending Actual Collateral Balance at 28-Feb-2006		233,861,935.15

Monthly P&I Constant		1,203,750.39
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		1,604.27
Unscheduled Principal		9,384,230.00

Additional Reporting – Deal Level

Miscellaneous Reporting


Senior Percentage	93.619164	%
Senior Prepayment Percentage	100.000000	%
Subordinate Prepayment Percentage	0.000000	%
Subordinate Percentage	6.380836	%

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		12			4,691,562.99		30 Days		0			0.00		30 Days		0			0.00		30 Days		0			0.00		30 Days		12			4,691,562.99
60 Days		3			1,034,577.24		60 Days		0			0.00		60 Days		0			0.00		60 Days		0			0.00		60 Days		3			1,034,577.24
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		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

		15			5,726,140.23				0			0.00				0			0.00				0			0.00				15			5,726,140.23

	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		1.759531	%		2.006125	%	30 Days		0.000000	%		0.000000	%	30 Days		0.000000	%		0.000000	%	30 Days		0.000000	%		0.000000	%	30 Days		1.759531	%		2.006125	%
60 Days		0.439883	%		0.442388	%	60 Days		0.000000	%		0.000000	%	60 Days		0.000000	%		0.000000	%	60 Days		0.000000	%		0.000000	%	60 Days		0.439883	%		0.442388	%
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	%

		2.199413	%		2.448513	%			0.000000	%		0.000000	%			0.000000	%		0.000000	%			0.000000	%		0.000000	%			2.199413	%		2.448513	%


Current Period Class A Insufficient Funds: 0.00		Principal Balance of Contaminated Properties 0.00		Periodic Advance 27,491.90