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

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 January 31, 2006, with distributions occurring on February 21, 2006. The statement includes balances, payment amounts, and realized losses for each class of certificate, as well as account activity such as deposits, withdrawals, and servicer advances. The report is intended to inform investors of their payment allocations and the trust's financial activity for the period.

EX-10.1 2 f18627bexv10w1.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: January 31, 2006
Distribution Date: February 21, 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		5.19879	%		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A-1		81744FHK6	SEN		4.69000	%		236,860,967.82		925,342.82		9,135,519.66		0.00		227,725,448.16		10,060,862.48		0.00
B-1		81744FHP5	SUB		4.86000	%		6,208,000.00		25,131.84		0.00		0.00		6,208,000.00		25,131.84		0.00
B-2		81744FHQ3	SUB		5.13000	%		3,287,000.00		14,046.02		0.00		0.00		3,287,000.00		14,046.02		0.00
B-3		81744FHR1	SUB		5.37563	%		2,374,000.00		10,630.33		0.00		0.00		2,374,000.00		10,630.33		0.00
B-4		81744FHS9	SUB		5.37563	%		1,095,000.00		4,903.21		0.00		0.00		1,095,000.00		4,903.21		0.00
B-5		81744FHT7	SUB		5.37563	%		731,000.00		3,273.28		0.00		0.00		731,000.00		3,273.28		0.00
B-6		81744FHU4	SUB		5.37563	%		1,826,168.26		8,177.24		0.00		0.00		1,826,168.26		8,177.24		0.00
X-A		81744FHL4	IO		0.68563	%		0.00		135,276.46		0.00		0.00		0.00		135,276.46		0.00
X-B		81744FHM2	IO		0.42217	%		0.00		3,338.98		0.00		0.00		0.00		3,338.98		0.00

Totals								252,382,136.08		1,130,120.18		9,135,519.66		0.00		243,246,616.42		10,265,639.84		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		236,860,967.82		1,619.39		9,133,900.27		0.00		0.00		9,135,519.66		227,725,448.16		0.65122652		9,135,519.06
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		252,382,136.08		1,619.39		9,133,900.27		0.00		0.00		9,135,519.66		243,246,616.42		0.66604904		9,135,519.06

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		677.35136799		0.00463097		26.12021685		0.00000000		0.00000000		26 ###-###-####		651.22652017		0.65122652		26.12484782
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		5.19879	%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A-1		01/20/06 – 02/19/06		30		4.69000	%		236,860,967.82		925,731.62		0.00		0.00		388.79		925,342.82		0.00		227,725,448.16
B-1		01/20/06 – 02/19/06		30		4.86000	%		6,208,000.00		25,142.40		0.00		0.00		10.56		25,131.84		0.00		6,208,000.00
B-2		01/20/06 – 02/19/06		30		5.13000	%		3,287,000.00		14,051.93		0.00		0.00		5.90		14,046.02		0.00		3,287,000.00
B-3		01/01/06 – 01/30/06		30		5.37563	%		2,374,000.00		10,634.80		0.00		0.00		4.47		10,630.33		0.00		2,374,000.00
B-4		01/01/06 – 01/30/06		30		5.37563	%		1,095,000.00		4,905.27		0.00		0.00		2.06		4,903.21		0.00		1,095,000.00
B-5		01/01/06 – 01/30/06		30		5.37563	%		731,000.00		3,274.66		0.00		0.00		1.38		3,273.28		0.00		731,000.00
B-6		01/01/06 – 01/30/06		30		5.37563	%		1,826,168.26		8,180.68		0.00		0.00		3.44		8,177.24		0.00		1,826,168.26
X-A		01/01/06 – 01/30/06		30		0.68563	%		236,860,967.82		135,333.29		0.00		0.00		56.84		135,276.46		0.00		227,725,448.16
X-B		01/01/06 – 01/30/06		30		0.42217	%		9,495,000.00		3,340.38		0.00		0.00		1.40		3,338.98		0.00		9,495,000.00

Totals											1,130,595.03		0.00		0.00		474.84		1,130,120.18		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		5.19879	%		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000
A-1		349,687,000.00		4.69000	%		677.35136799		2.64731494		0.00000000		0.00000000		0.00111182		2.64620309		0.00000000		651.22652017
B-1		6,208,000.00		4.86000	%		1000.00000000		4.05000000		0.00000000		0.00000000		0.00170103		4.04829897		0.00000000		1000.00000000
B-2		3,287,000.00		5.13000	%		1000.00000000		4.27500152		0.00000000		0.00000000		0.00179495		4.27320353		0.00000000		1000.00000000
B-3		2,374,000.00		5.37563	%		1000.00000000		4.47969671		0.00000000		0.00000000		0.00188290		4.47781382		0.00000000		1000.00000000
B-4		1,095,000.00		5.37563	%		1000.00000000		4.47969863		0.00000000		0.00000000		0.00188128		4.47781735		0.00000000		1000.00000000
B-5		731,000.00		5.37563	%		1000.00000000		4.47969904		0.00000000		0.00000000		0.00188782		4.47781122		0.00000000		1000.00000000
B-6		1,826,168.26		5.37563	%		1000.00000000		4.47969674		0.00000000		0.00000000		0.00188373		4.47781301		0.00000000		1000.00000000
X-A		0.00		0.68563	%		677.35136799		0.38701264		0.00000000		0.00000000		0.00016255		0.38685013		0.00000000		651.22652017
X-B		0.00		0.42217	%		1000.00000000		0.35180411		0.00000000		0.00000000		0.00014745		0.35165666		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			10,360,786.81
Reserve Funds and Credit Enhancements			0.00
Proceeds from Repurchased Loans			0.00
Servicer Advances			15,419.78
Realized Loss (Gains, Subsequent Expenses & Recoveries)			0.00
Prepayment Penalties			0.00
Swap/Cap Payments			0.00

Total Deposits			10,376,206.59

Withdrawals Swap Payments			0.00
Reserve Funds and Credit Enhancements			0.00
Reimbursement of Servicer Advances			27,840.78
Total Administration Fees			82,725.97
Payment of Interest and Principal			10,265,639.84

Total Withdrawals (Pool Distribution Amount)			10,376,206.59

Ending Balance			0.00

Prepayment/Curtailment Interest Shortfall


Total Prepayment/Curtailment Interest Shortfall			474.84
Servicing Fee Support			0.00


Non-Supported Prepayment Curtailment Interest Shortfall			474.84

Administration Fees


Gross Servicing Fee*			79,255.72
Master Servicing Fee			3,470.25
Supported Prepayment/Curtailment Interest Shortfall			0.00


Total Administration Fees			82,725.97


*		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


Account Type	Beginning Balance		Current Withdrawals		Current Deposits		Ending 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		5.768970	%
Weighted Average Net Coupon		5.392134	%
Weighted Average Pass-Through Rate		5.375634	%
Weighted Average Remaining Term		328

Beginning Scheduled Collateral Loan Count		747
Number of Loans Paid in Full		31
Ending Scheduled Collateral Loan Count		716

Beginning Scheduled Collateral Balance		252,382,136.08
Ending Scheduled Collateral Balance		243,246,616.42
Ending Actual Collateral Balance at 31-Jan-2006		243,247,437.71

Monthly P&I Constant		1,214,940.26
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		1,619.39
Unscheduled Principal		9,133,900.27

Additional Reporting – Deal Level

Miscellaneous Reporting


Senior Percentage	100.000000	%
Senior Prepayment Percentage	100.000000	%
Subordinate Prepayment Percentage	0.000000	%
Subordinate Percentage	0.000000	%

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		8			2,448,636.47		30 Days		0			0.00		30 Days		0			0.00		30 Days		0			0.00		30 Days		8			2,448,636.47
60 Days		2			608,612.27		60 Days		0			0.00		60 Days		0			0.00		60 Days		0			0.00		60 Days		2			608,612.27
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		1					180+ Days		0			0.00		180+ Days		0			0.00		180+ Days		0			0.00		180+ Days		1

		11			3,337,948.74				0			0.00				0			0.00				0			0.00				11			3,337,948.74

	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		1.117318	%		1.006644	%	30 Days		0.000000	%		0.000000	%	30 Days		0.000000	%		0.000000	%	30 Days		0.000000	%		0.000000	%	30 Days		1.117318	%		1.006644	%
60 Days		0.279330	%		0.250203	%	60 Days		0.000000	%		0.000000	%	60 Days		0.000000	%		0.000000	%	60 Days		0.000000	%		0.000000	%	60 Days		0.279330	%		0.250203	%
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		0.139665	%		0.115397	%	180+ Days		0.000000	%		0.000000	%	180+ Days		0.000000	%		0.000000	%	180+ Days		0.000000	%		0.000000	%	180+ Days		0.139665	%		0.115397	%

		1.536313	%		1.372244	%			0.000000	%		0.000000	%			0.000000	%		0.000000	%			0.000000	%		0.000000	%			1.536313	%		1.372244	%


Current Period Class A Insufficient Funds:			0.00			Principal Balance of Contaminated Properties			0.00			Periodic Advance			15,419.78