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

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A., as Certificate Administrator, for holders of asset-backed securities in the SMT Series 2005-3 trust. It summarizes the principal and interest payments made to certificateholders as of the September 30, 2005 record date and the October 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 f14512dexv10w1.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: SEPTEMBER 30, 2005 DISTRIBUTION DATE: OCTOBER 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution - ------ --------- ----------- ------------ -------------- ------------ A-R 81744FHN0 SEN 4.80671% 0.00 0.00 A-1 81744FHK6 SEN 3.99625% 292,958,560.66 975,439.32 B-1 81744FHP5 SUB 4.16625% 6,208,000.00 21,549.56 B-2 81744FHQ3 SUB 4.43625% 3,287,000.00 12,149.46 B-3 81744FHR1 SUB 4.80220% 2,374,000.00 9,498.67 B-4 81744FHS9 SUB 4.80220% 1,095,000.00 4,381.23 B-5 81744FHT7 SUB 4.80220% 731,000.00 2,924.82 B-6 81744FHU4 SUB 4.80220% 1,826,168.26 7,306.72 X-A 81744FHL4 IO 0.80595% 0.00 196,724.01 X-B 81744FHM2 IO 0.54248% 0.00 4,291.64 -------------- ------------ Totals 308,479,728.92 1,234,265.43 ============== ============ Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Loss - ------ ------------ -------- -------------- ------------- ---------- A-R 0.00 0.00 0.00 0.00 0.00 A-1 9,025,792.26 0.00 283,932,768.40 10,001,231.58 0.00 B-1 0.00 0.00 6,208,000.00 21,549.56 0.00 B-2 0.00 0.00 3,287,000.00 12,149.46 0.00 B-3 0.00 0.00 2,374,000.00 9,498.67 0.00 B-4 0.00 0.00 1,095,000.00 4,381.23 0.00 B-5 0.00 0.00 731,000.00 2,924.82 0.00 B-6 0.00 0.00 1,826,168.26 7,306.72 0.00 X-A 0.00 0.00 0.00 196,724.01 0.00 X-B 0.00 0.00 0.00 4,291.64 0.00 ------------ ---- -------------- ------------- ---- Totals 9,025,792.26 0.00 299,453,936.66 10,260,057.69 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
Original Beginning Scheduled Unscheduled 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-1 349,687,000.00 292,958,560.66 1,705.41 9,024,086.85 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 365,208,268.26 308,208,268.26 1,705.41 9,024,086.85 0.00 0.00 ============== ============== ======== ============ ==== ==== Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution - ------ ------------ -------------- ----------- ------------ A-R 0.00 0.00 0.00000000 0.00 A-1 9,025,792.26 283,932,768.40 0.81196261 9,025,792.26 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 9,025,792.26 299,453,936.66 0.81995388 9,025,792.26 ============ ============== ========== ============
(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
Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (3) - ------ -------------- ------------- ------------ ------------ ---------- ---------- A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 349,687,000.00 837.77366805 0.00487696 25.80618339 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 25.81106035 811.96260770 0.81196261 25.81106035 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 Non- Original Current Certificate/ Current Unpaid Current Supported Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------ -------------- ----------- -------------- ------------ ---------- --------- --------- -------- A-R 100.00 4.80671% 0.00 0.00 0.00 0.00 0.00 0.00 A-1 349,687,000.00 3.99625% 292,958,560.66 975,613.04 0.00 0.00 173.72 0.00 B-1 6,208,000.00 4.16625% 6,208,000.00 21,553.40 0.00 0.00 3.84 0.00 B-2 3,287,000.00 4.43625% 3,287,000.00 12,151.63 0.00 0.00 2.16 0.00 B-3 2,374,000.00 4.80220% 2,374,000.00 9,500.36 0.00 0.00 1.69 0.00 B-4 1,095,000.00 4.80220% 1,095,000.00 4,382.01 0.00 0.00 0.78 0.00 B-5 731,000.00 4.80220% 731,000.00 2,925.34 0.00 0.00 0.52 0.00 B-6 1,826,168.26 4.80220% 1,826,168.26 7,308.03 0.00 0.00 1.30 0.00 X-A 0.00 0.80595% 292,958,560.66 196,759.04 0.00 0.00 35.03 0.00 X-B 0.00 0.54248% 9,495,000.00 4,292.40 0.00 0.00 0.76 0.00 -------------- ------------ ---- ---- ------ ---- Totals 365,208,268.26 1,234,485.25 0.00 0.00 219.80 0.00 ============== ============ ==== ==== ====== ==== Remaining Ending Total Unpaid Certificate/ Interest Interest Notational Class Distribution Shortfall Balance - ------ ------------ --------- -------------- A-R 0.00 0.00 0.00 A-1 975,439.32 0.00 283,932,768.40 B-1 21,549.56 0.00 6,208,000.00 B-2 12,149.46 0.00 3,287,000.00 B-3 9,498.67 0.00 2,374,000.00 B-4 4,381.23 0.00 1,095,000.00 B-5 2,924.82 0.00 731,000.00 B-6 7,306.72 0.00 1,826,168.26 X-A 196,724.01 0.00 283,932,768.40 X-B 4,291.64 0.00 9,495,000.00 ------------ ---- Totals 1,234,265.43 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
Beginning Payment of Non- Current Certificate/ Current Unpaid Current Supported Class Original Face Certificate Notional Accrued Interest Interest Interest Realized (5) Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (6) - ----- -------------- ----------- ------------- ---------- ---------- ---------- ---------- ---------- A-R 100.00 4.80671% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 349,687,000.00 3.99625% 837.77366805 2.78996085 0.00000000 0.00000000 0.00049679 0.00000000 B-1 6,208,000.00 4.16625% 1000.00000000 3.47187500 0.00000000 0.00000000 0.00061856 0.00000000 B-2 3,287,000.00 4.43625% 1000.00000000 3.69687557 0.00000000 0.00000000 0.00065713 0.00000000 B-3 2,374,000.00 4.80220% 1000.00000000 4.00183656 0.00000000 0.00000000 0.00071188 0.00000000 B-4 1,095,000.00 4.80220% 1000.00000000 4.00183562 0.00000000 0.00000000 0.00071233 0.00000000 B-5 731,000.00 4.80220% 1000.00000000 4.00183311 0.00000000 0.00000000 0.00071135 0.00000000 B-6 1,826,168.26 4.80220% 1000.00000000 4.00183825 0.00000000 0.00000000 0.00071187 0.00000000 X-A 0.00 0.80595% 837.77366805 0.56267188 0.00000000 0.00000000 0.00010018 0.00000000 X-B 0.00 0.54248% 1000.00000000 0.45206951 0.00000000 0.00000000 0.00008004 0.00000000 Remaining Ending Total Unpaid Certificate/ Class Interest Interest Notational (5) Distribution Shortfall Balance - ----- ------------ ---------- ------------- A-R 0.00000000 0.00000000 0.00000000 A-1 2.78946406 0.00000000 811.96260770 B-1 3.47125644 0.00000000 1000.00000000 B-2 3.69621539 0.00000000 1000.00000000 B-3 4.00112468 0.00000000 1000.00000000 B-4 4.00112329 0.00000000 1000.00000000 B-5 4.00112175 0.00000000 1000.00000000 B-6 4.00112090 0.00000000 1000.00000000 X-A 0.56257170 0.00000000 811.96260770 X-B 0.45198947 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 10,339,325.85 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 21,835.68 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 10,361,161.53 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 101,103.84 Payment of Interest and Principal 10,260,057.69 ------------- Total Withdrawals (Pool Distribution Amount) 10,361,161.53 Ending Balance 0.00 =============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 219.80 Servicing Fee Support 0.00 ------ Non-Supported Prepayment Curtailment Interest Shortfall 219.80 ======
SERVICING FEES Gross Servicing Fee 96,862.24 Master Servicing Fee 4,241.60 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 101,103.84 ==========
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
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------- ---------------------------- ---------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance ------ ------------ ------ --------- ------ --------- 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 13 4,737,364.11 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 214,275.95 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 280,700.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 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 --- ------------ --- ---- --- ---- 16 5,232,340.06 0 0.00 0 0.00 REO TOTAL - ---------------------------- ------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance ------ --------- ------ ------------ 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 13 4,737,364.11 60 Days 0 0.00 60 Days 2 214,275.95 90 Days 0 0.00 90 Days 1 280,700.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --- ---- --- ------------ 0 0.00 16 5,232,340.06
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------ ------------------------------ ------------------------------ No. of Principal No. of Principal No. of Principal 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% 30 Days 1.450893% 1.581995% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.223214% 0.071555% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.111607% 0.093737% 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% 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% -------- -------- -------- -------- -------- -------- 1.785714% 1.747288% 0.000000% 0.000000% 0.000000% 0.000000% REO TOTAL - ------------------------------- ------------------------------ No. of Principal No. of Principal Loans Balance Loans Balance --------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.450893% 1.581995% 60 Days 0.000000% 0.000000% 60 Days 0.223214% 0.071555% 90 Days 0.000000% 0.000000% 90 Days 0.111607% 0.093737% 120 Days 0.000000% 0.000000% 120 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% -------- -------- -------- -------- 0.000000% 0.000000% 1.785714% 1.747288%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 21,835.68 COLLATERAL STATEMENT
Collateral Description Mixed ARM - ---------------------- -------------- Weighted Average Gross Coupon 5.187675% Weighted Average Net Coupon 4.810877% Weighted Average Pass-Through Rate 4.794377% Weighted Average Maturity (Stepdown Calculation) 332 Beginning Scheduled Collateral Loan Count 924 Number of Loans Paid in Full 28 Ending Scheduled Collateral Loan Count 896 Beginning Scheduled Collateral Balance 308,479,728.92 Ending Scheduled Collateral Balance 299,453,936.66 Ending Actual Collateral Balance at 30-Sept-2005 299,454,983.63 Monthly P&I Constant 1,335,282.59 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1,705.41 Unscheduled Principal 9,024,086.85
MISCELLANEOUS REPORTING Senior Percentage 94.9685% Senior Prepayment Percentage 100.0000% Subordinate Prepayment Percentage 0.000000% Subordinate Percentage 5.0315%