SMT Series 2004-1 Certificateholder Distribution Summary by Wells Fargo Bank Minnesota, N.A.

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Summary

This document, prepared by Wells Fargo Bank Minnesota, N.A., provides a summary of distributions to certificateholders for the SMT Series 2004-1 as of September 30, 2004, with distributions made on October 20, 2004. It details the principal and interest payments, balances, and realized losses for each class of certificates, as calculated under the Pooling and Servicing Agreement. The report ensures transparency for investors regarding the performance and payments of their securities.

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EX-10.1 2 f03043cexv10w1.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 2004-1 RECORD DATE: SEPTEMBER 30, 2004 DISTRIBUTION DATE: OCTOBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Certificate Interest Principal Class CUSIP Description Pass-Through Rate Balance Distribution Distribution A 81744FAA5 SEN 2.19125% 541,882,052.06 989,499.20 7,725,924.16 X-1 81744FAB3 IO 0.69222% 0.00 256,829.91 0.00 X-2 81744FAC1 IO 0.12346% 0.00 55,752.49 0.00 X-B 81744FAD9 IO 0.32835% 0.00 4,189.71 0.00 B-1 81744FAG2 SUB 2.36125% 9,375,000.00 18,447.27 0.00 B-2 81744FAH0 SUB 2.86125% 5,937,000.00 14,156.03 0.00 B-3 81744FAJ6 SUB 2.88346% 3,437,000.00 8,258.72 0.00 B-4 81744FAK3 SUB 2.88346% 1,562,000.00 3,753.31 0.00 B-5 81744FAL1 SUB 2.88346% 937,000.00 2,251.51 0.00 B-6 81744FAM9 SUB 2.88346% 2,500,468.00 6,008.34 0.00 A-R 81744FAF4 RES 2.57292% 0.00 0.00 0.00 -------------- ------------ ------------ Totals 565,630,520.06 1,359,146.49 7,725,924.16 -------------- ------------ ------------
Current Ending Certificate Cumulative Class CUSIP Realized Loss Balance Total Distribution Realized Loss ----- ----- ------------- ------- ------------- A 81744FAA5 0.00 534,156,127.90 8,715,423.36 0.00 X-1 81744FAB3 0.00 0.00 256,829.91 0.00 X-2 81744FAC1 0.00 0.00 55,752.49 0.00 X-B 81744FAD9 0.00 0.00 4,189.71 0.00 B-1 81744FAG2 0.00 9,375,000.00 18,447.27 0.00 B-2 81744FAH0 0.00 5,937,000.00 14,156.03 0.00 B-3 81744FAJ6 0.00 3,437,000.00 8,258.72 0.00 B-4 81744FAK3 0.00 1,562,000.00 3,753.31 0.00 B-5 81744FAL1 0.00 937,000.00 2,251.51 0.00 B-6 81744FAM9 0.00 2,500,468.00 6,008.34 0.00 A-R 81744FAF4 0.00 0.00 0.00 0.00 ---- -------------- ------------ ---- Totals 0.00 557,904,595.90 9,085,070.65 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 601,250,000.00 541,882,052.06 592.03 7,725,332.13 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 X-2 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 B-1 9,375,000.00 9,375,000.00 0.00 0.00 0.00 0.00 B-2 5,937,000.00 5,937,000.00 0.00 0.00 0.00 0.00 B-3 3,437,000.00 3,437,000.00 0.00 0.00 0.00 0.00 B-4 1,562,000.00 1,562,000.00 0.00 0.00 0.00 0.00 B-5 937,000.00 937,000.00 0.00 0.00 0.00 0.00 B-6 2,500,468.00 2,500,468.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ------ ------------ ---- ---- Totals 624,998,568.00 565,630,520.06 592.03 7,725,332.13 0.00 0.00 -------------- -------------- ------ ------------ ---- ----
Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution ----- --------- ------- ---------- ------------ A 7,725,924.16 534,156,127.90 0.88840936 7,725,924.16 X-1 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-1 0.00 9,375,000.00 1.00000000 0.00 B-2 0.00 5,937,000.00 1.00000000 0.00 B-3 0.00 3,437,000.00 1.00000000 0.00 B-4 0.00 1,562,000.00 1.00000000 0.00 B-5 0.00 937,000.00 1.00000000 0.00 B-6 0.00 2,500,468.00 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ------------ -------------- ---------- ------------ Totals 7,725,924.16 557,904,595.90 0.89264940 7,725,924.16 ------------ -------------- ---------- ------------
(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 Class Amount Balance Distribution Distribution Accretion Loss (3) - ----- ------ ------- ------------ ------------ --------- -------- A 601,250,000.00 901.25913025 0.00098467 12.84878525 0.00000000 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 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 B-1 9,375,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,937,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,437,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,562,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 937,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,500,468.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------- ------- ---------- ------------ A 12.84976991 888.40936033 0.88840936 12.84976991 X-1 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 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 A-R 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- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Realized Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) ----- ------ ---------------- ------- -------- --------- --------- --------- -------- A 601,250,000.00 2.19125% 541,882,052.06 989,499.21 0.00 0.00 0.01 0.00 X-1 0.00 0.69222% 445,231,466.30 256,829.91 0.00 0.00 0.00 0.00 X-2 0.00 0.12346% 541,882,052.06 55,752.49 0.00 0.00 0.00 0.00 X-B 0.00 0.32835% 15,312,000.00 4,189.71 0.00 0.00 0.00 0.00 B-1 9,375,000.00 2.36125% 9,375,000.00 18,447.27 0.00 0.00 0.00 0.00 B-2 5,937,000.00 2.86125% 5,937,000.00 14,156.03 0.00 0.00 0.00 0.00 B-3 3,437,000.00 2.88346% 3,437,000.00 8,258.72 0.00 0.00 0.00 0.00 B-4 1,562,000.00 2.88346% 1,562,000.00 3,753.31 0.00 0.00 0.00 0.00 B-5 937,000.00 2.88346% 937,000.00 2,251.51 0.00 0.00 0.00 0.00 B-6 2,500,468.00 2.88346% 2,500,468.00 6,008.34 0.00 0.00 0.00 0.00 A-R 100.00 2.57292% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Totals 624,998,568.00 1,359,146.50 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance ----- ------------ --------- ------- A 989,499.20 0.00 534,156,127.90 X-1 256,829.91 0.00 428,694,308.91 X-2 55,752.49 0.00 534,156,127.90 X-B 4,189.71 0.00 15,312,000.00 B-1 18,447.27 0.00 9,375,000.00 B-2 14,156.03 0.00 5,937,000.00 B-3 8,258.72 0.00 3,437,000.00 B-4 3,753.31 0.00 1,562,000.00 B-5 2,251.51 0.00 937,000.00 B-6 6,008.34 0.00 2,500,468.00 A-R 0.00 0.00 0.00 ------------ ---- Totals 1,359,146.49 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 Class Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --- ------ ---- ---------------- -------- --------- --------- --------- -------- A 601,250,000.00 2.19125% 901.25913025 1.64573673 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.69222% 740.50971526 0.42715993 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.12346% 901.25913025 0.09272763 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.32835% 1000.00000000 0.27362265 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,375,000.00 2.36125% 1000.00000000 1.96770880 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,937,000.00 2.86125% 1000.00000000 2.38437426 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,437,000.00 2.88346% 1000.00000000 2.40288624 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,562,000.00 2.88346% 1000.00000000 2.40288732 0.00000000 0.00000000 0.00000000 0.00000000 B-5 937,000.00 2.88346% 1000.00000000 2.40289221 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,500,468.00 2.88346% 1000.00000000 2,40288618 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.57292% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance --- ------------ --------- ------------------- A 1.64573672 0.00000000 888.40936033 X-1 0.42715993 0.00000000 713.00508758 X-2 0.09272763 0.00000000 888.40936033 X-B 0.27362265 0.00000000 1000.00000000 B-1 1.96770880 0.00000000 1000.00000000 B-2 2.38437426 0.00000000 1000.00000000 B-3 2.40288624 0.00000000 1000.00000000 B-4 2.40288732 0.00000000 1000.00000000 B-5 2.40289221 0.00000000 1000.00000000 B-6 2.40288618 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000
(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 9,276,711.43 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 9,437.12 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 9,286,148.55 Withdrawals Reimbursement for Servicer Advances 19,000.80 Payment of Service Fee 182,077.10 Payment of Interest and Principal 9,085,070.65 ------------ Total Withdrawals (Pool Distribution Amount) 9,286,148.55 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 177,363.50 Master Servicing Fee 4,713.60 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 182,077.10 ==========
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- Class X-1 Sub Account 4,500.00 0.00 0.00 4,500.00 Class X-2 Sub Account 4,500.00 0.00 0.00 4,500.00 Class X-B Sub Account 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 12 3,832,680.00 60 Days 2 258,241.87 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 ---------- ------------ 14 4,090,921.87
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.738462% 0.686977% 60 Days 0.123077% 0.046288% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.861538% 0.733265%
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 12 3,832,680.00 60 Days 2 258,241.87 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 ---- ------------ 14 4,090,921.87
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.738462% 0.686977% 60 Days 0.123077% 0.046288% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.861538% 0.733265%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9,437.12
Original $ Original% Current $ Current % Current Class % Prepayment % ---------- --------- --------- --------- --------------- ------------ Class A 23,748,468.00 3.79976359% 23,748,468.00 4.25672564% 95.743274% 0.000000% Class X-1 23,748,468.00 3.79976359% 23,748,468.00 4.25672564% 0.000000% 0.000000% Class X-2 23,748,468.00 3.79976359% 23,748,468.00 4.25672564% 0.000000% 0.000000% Class B-1 14,373,468.00 2.29976015% 14,373,468.00 2.57633081% 1.680395% 39.476231% Class B-2 8,436,468.00 1.34983797% 8,436,468.00 1.51217037% 1.064160% 24.999507% Class B-3 4,999,468.00 0.79991671% 4,999,468.00 0.89611522% 0.616055% 14.472513% Class B-4 3,437,468.00 0.54999614% 3,437,468.00 0.61613904% 0.279976% 6.577266% Class B-5 2,500,468.00 0.40007580% 2,500,468.00 0.44818917% 0.167950% 3.945518% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.448189% 10.528965%
Please refer to the prospectus supplement for a full description of loss exposure COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.269746% Weighted Average Net Coupon 2.893465% Weighted Average Pass-Through Rate 2.883465% Weighted Average Maturity (Stepdown Calculation) 326 Beginning Scheduled Collateral Loan Count 1,647 Number of Loans Paid in Full 22 Ending Scheduled Collateral Loan Count 1,625 Beginning Scheduled Collateral Balance 565,630,520.49 Ending Scheduled Collateral Balance 557,904,596.33 Ending Actual Collateral Balance at 30-Sept-2004 557,905,218.10 Monthly P&I Constant 1,541,815.61 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 9,032,195.47 Ending Scheduled Balance for Premium Loans 557,904,596.33 Scheduled Principal 592.03 Unscheduled Principal 7,725,332.13
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 90,063,336.71 Six-Month Libor Loan Balance 467,565,277.58 Prorata Senior Percentage 95.801417% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%