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 the May 31, 2005 record date and June 20, 2005 distribution date. 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 f10560cexv10w1.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 ###-###-#### FAX: (301) 315-6660 SMT SERIES 2005-3 RECORD DATE: MAY 31, 2005 DISTRIBUTION DATE: JUNE 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Current Ending Certificate Class CUSIP Description Rate Balance Distribution Distribution Realized Loss Balance - ------ --------- ----------- ------------ -------------- ------------ ------------ ------------- ------------------ A-R 81744FHN0 SEN 4.02264% 0.00 0.00 0.00 0.00 0.00 A-1 81744FHK6 SEN 3.29000% 343,539,467.54 941,870.71 8,799,505.07 0.00 334,739,962.47 B-1 81744FHP5 SUB 3.46000% 6,208,000.00 17,899.73 0.00 0.00 6,208,000.00 B-2 81744FHQ3 SUB 3.73000% 3,287,000.00 10,217.09 0.00 0.00 3,287,000.00 B-3 81744FHR1 SUB 3.91497% 2,374,000.00 7,745.12 0.00 0.00 2,374,000.00 B-4 81744FHS9 SUB 3.91497% 1,095,000.00 3,572.41 0.00 0.00 1,095,000.00 B-5 81744FHT7 SUB 3.91497% 731,000.00 2,384.87 0.00 0.00 731,000.00 B-6 81744FHU4 SUB 3.91497% 1,826,168.26 5,957.83 0.00 0.00 1,826,168.26 X-A 81744FHL4 IO 0.62497% 0.00 178,918.62 0.00 0.00 0.00 X-B 81744FHM2 IO 0.36150% 0.00 2,860.39 0.00 0.00 0.00 -------------- ------------ ------------ ---- ------------------ Totals 359,060,635.80 1,171,426.77 8,799,505.07 0.00 350,261,130.73 -------------- ------------ ------------ ---- ------------------ Total Cumulative Class Distribution Realized Loss - ------ ------------ ------------- A-R 0.00 0.00 A-1 9,741,375.78 0.00 B-1 17,899.73 0.00 B-2 10,217.09 0.00 B-3 7,745.12 0.00 B-4 3,572.41 0.00 B-5 2,384.87 0.00 B-6 5,957.83 0.00 X-A 178,918.62 0.00 X-B 2,860.39 0.00 ------------ ---- Totals 9,970,931.84 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 Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance - ------- -------------- -------------- ------------ ------------ --------- --------- --------------- ------------------ A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 A-1 349,687,000.00 343,539,467.54 3,143.67 8,796,361.40 0.00 0.00 8,799,505.07 334,739,962.47 B-1 6,208,000.00 6,208,000.00 0.00 0.00 0.00 0.00 0.00 6,208,000.00 B-2 3,287,000.00 3,287,000.00 0.00 0.00 0.00 0.00 0.00 3,287,000.00 B-3 2,374,000.00 2,374,000.00 0.00 0.00 0.00 0.00 0.00 2,374,000.00 B-4 1,095,000.00 1,095,000.00 0.00 0.00 0.00 0.00 0.00 1,095,000.00 B-5 731,000.00 731,000.00 0.00 0.00 0.00 0.00 0.00 731,000.00 B-6 1,826,168.26 1,826,168.26 0.00 0.00 0.00 0.00 0.00 1,826,168.26 X-A 0.00 0.00 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 0.00 0.00 -------------- -------------- ------------ ------------ ---- ---- --------------- ------------------ Totals 365,208,268.26 359,060,635.80 3,143.67 8,796,361.40 0.00 0.00 8,799,505.07 350,261,130.73 -------------- -------------- ------------ ------------ ---- ---- --------------- ------------------ Ending Certificate Total Principal Class Percentage Distribution - ------- ------------------ ---------------- A-R 0.00000000 0.00 A-1 0.95725595 8,799,505.07 B-1 1.00000000 0.00 B-2 1.00000000 0.00 B-3 1.00000000 0.00 B-4 1.00000000 0.00 B-5 1.00000000 0.00 B-6 1.00000000 0.00 X-A 0.00000000 0.00 X-B 0.00000000 0.00 ------------------ --------------- Totals 0.95907229 8,799,505.07 ------------------ ---------------
(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 Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance - ----- -------------- ------------- ------------ ------------ ---------- ---------- --------------- ------------------ A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 349,687,000.00 982.41989991 0.00898995 25.15495686 0.00000000 0.00000000 25.16394682 957.25595310 B-1 6,208,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-2 3,287,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-3 2,374,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-4 1,095,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-5 731,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-6 1,826,168.26 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 X-A 0.00 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 Ending Certificate Total Principal Class Percentage Distribution - ----- ------------------ --------------- A-R 0.00000000 1000.00000000 A-1 0.95725595 25.16394682 B-1 1.00000000 0.00000000 B-2 1.00000000 0.00000000 B-3 1.00000000 0.00000000 B-4 1.00000000 0.00000000 B-5 1.00000000 0.00000000 B-6 1.00000000 0.00000000 X-A 0.00000000 0.00000000 X-B 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
Payment of Non- Beginning Current Unpaid Current Supported Original Face Current Certificate/ Accrued Interest Interest Interest Realized Total Interest Class Amount Certificate Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (4) Distribution - ------ -------------- ---------------- ---------------- ------------ ---------- --------- --------- -------- -------------- A-R 100.00 4.02264% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 A-1 349,687,000.00 3.29000% 343,539,467.54 941,870.71 0.00 0.00 0.00 0.00 941,870.71 B-1 6,208,000.00 3.46000% 6,208,000.00 17,899.73 0.00 0.00 0.00 0.00 17,899.73 B-2 3,287,000.00 3.73000% 3,287,000.00 10,217.09 0.00 0.00 0.00 0.00 10,217.09 B-3 2,374,000.00 3.91497% 2,374,000.00 7,745.12 0.00 0.00 0.00 0.00 7,745.12 B-4 1,095,000.00 3.91497% 1,095,000.00 3,572.41 0.00 0.00 0.00 0.00 3,572.41 B-5 731,000.00 3.91497% 731,000.00 2,384.87 0.00 0.00 0.00 0.00 2,384.87 B-6 1,826,168.26 3.91497% 1,826,168.26 5,957.83 0.00 0.00 0.00 0.00 5,957.83 X-A 0.00 0.62497% 343,539,467.54 178,918.62 0.00 0.00 0.00 0.00 178,918.62 X-B 0.00 0.36150% 9,495,000.00 2,860.39 0.00 0.00 0.00 0.00 2,860.39 -------------- ------------ ---- ---- ---- ---- -------------- Totals 365,208,268.26 1,171,426.77 0.00 0.00 0.00 0.00 1,171,426.77 -------------- ------------ ---- ---- ---- ---- -------------- Remaining Ending Unpaid Certificate/ Interest Notational Class Shortfall Balance - ------ --------- -------------- A-R 0.00 0.00 A-1 0.00 334,739,962.47 B-1 0.00 6,208,000.00 B-2 0.00 3,287,000.00 B-3 0.00 2,374,000.00 B-4 0.00 1,095,000.00 B-5 0.00 731,000.00 B-6 0.00 1,826,168.26 X-A 0.00 334,739,962.47 X-B 0.00 9,495,000.00 ---- Totals 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 Unpaid Current Supported Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized Total Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) Distribution - --------- -------------- ----------- ---------------- --------------- ---------- ---------- ---------- ---------- -------------- A-R 100.00 4.02264% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 349,687,000.00 3.29000% 982.41989991 2.69346790 0.00000000 0.00000000 0.00000000 0.00000000 2.69346790 B-1 6,208,000.00 3.46000% 1000.00000000 2.88333280 0.00000000 0.00000000 0.00000000 0.00000000 2.88333280 B-2 3,287,000.00 3.73000% 1000.00000000 3.10833283 0.00000000 0.00000000 0.00000000 0.00000000 3.10833283 B-3 2,374,000.00 3.91497% 1000.00000000 3.26247683 0.00000000 0.00000000 0.00000000 0.00000000 3.26247683 B-4 1,095,000.00 3.91497% 1000.00000000 3.26247489 0.00000000 0.00000000 0.00000000 0.00000000 3.26247489 B-5 731,000.00 3.91497% 1000.00000000 3.26247606 0.00000000 0.00000000 0.00000000 0.00000000 3.26247606 B-6 1,826,168.26 3.91497% 1000.00000000 3.26247593 0.00000000 0.00000000 0.00000000 0.00000000 3.26247593 X-A 0.00 0.62497% 982.41989991 0.51165362 0.00000000 0.00000000 0.00000000 0.00000000 0.51165362 X-B 0.00 0.36150% 1000.00000000 0.30125224 0.00000000 0.00000000 0.00000000 0.00000000 0.30125224 Remaining Unpaid Interest Ending Certificate/ Class (5) Shortfall Notational Balance - --------- ---------- ------------------- A-R 0.00000000 0.00000000 A-1 0.00000000 957.25595310 B-1 0.00000000 1000.00000000 B-2 0.00000000 1000.00000000 B-3 0.00000000 1000.00000000 B-4 0.00000000 1000.00000000 B-5 0.00000000 1000.00000000 B-6 0.00000000 1000.00000000 X-A 0.00000000 957.25595310 X-B 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 10,074,107.28 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 14,634.51 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 10,088,741.79 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 117,809.95 Payment of Interest and Principal 9,970,931.84 ------------- Total Withdrawals (Pool Distribution Amount) 10,088,741.79 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 112,872.87 Master Servicing Fee 4,937.08 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 117,809.95 ==========
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 8 4,361,649.99 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 -------- ------------ 8 4,361,649.99
No. of Principal Loans Balance -------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 0.769971% 1.245246% 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% -------- ------------ 0.769971% 1.245246%
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 8 4,361,649.99 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 -------- ------------ 8 4,361,649.99
No. of Principal Loans Balance -------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 0.769971% 1.245246% 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% -------- ------------ 0.769971% 1.245246%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 14,634.51
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 4.308698% Weighted Average Net Coupon 3.931471% Weighted Average Pass-Through Rate 3.914971% Weighted Average Maturity (Stepdown Calculation) 336 Beginning Scheduled Collateral Loan Count 1,064 Number of Loans Paid in Full 25 Ending Scheduled Collateral Loan Count 1,039 Beginning Scheduled Collateral Balance 359,060,635.80 Ending Scheduled Collateral Balance 350,261,130.73 Ending Actual Collateral Balance at 31-May-2005 350,263,996.82 Monthly P&I Constant 1,292,380.23 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 3,143.67 Unscheduled Principal 8,796,361.40
MISCELLANEOUS REPORTING Senior Percentage 100% Senior Prepayment Percentage 100% Subordinate Prepayment Percentage 0.000000% Subordinate Percentage 0.000000%