Wells Fargo Bank Minnesota, N.A. SMT Series 2004-2 Certificateholder Distribution Statement (September 2004)

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2004-2 trust. It summarizes the principal and interest payments made to certificateholders as of September 30, 2004, and distributed on October 20, 2004. The statement details the amounts paid, outstanding balances, and any realized losses for each class of certificates. All calculations are made in accordance with the Pooling and Servicing Agreement governing the trust. No realized losses or interest shortfalls are reported for this period.

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EX-10.1 2 f03043dexv10w1.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 2004-2 RECORD DATE: SEPTEMBER 30, 2004 DISTRIBUTION DATE: OCTOBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass- Certificate Interest Principal Current Class CUSIP Description Through Rate Balance Distribution Distribution Realized Loss - ----- ----- ----------- ------------ -------------- ------------- ------------- ------------- A 81744FAN7 SEN 2.19125% 600,819,434.66 1,097,121.32 10,806,638.13 0.00 X-1 81744FAP2 IO 0.80000% 0.00 344,304.16 0.00 0.00 X-2 81744FAQ0 IO 0.33705% 0.00 168,753.06 0.00 0.00 X-B 81744FAR8 IO 0.72358% 0.00 11,185.39 0.00 0.00 B-1 81744FAT4 SUB 2.31125% 11,550,000.00 22,245.78 0.00 0.00 B-2 81744FAU1 SUB 2.79125% 7,000,000.00 16,282.29 0.00 0.00 B-3 81744FAV9 SUB 3.21596% 3,150,000.00 8,441.91 0.00 0.00 B-4 81744FAW7 SUB 3.21596% 1,750,000.00 4,689.95 0.00 0.00 B-5 81744FAX5 SUB 3.21596% 1,400,000.00 3,751.96 0.00 0.00 B-6 81744FAY6 SUB 3.21596% 3,150,069.00 8,442.09 0.00 0.00 A-R 81744FAS6 RES 2.67176% 0.00 0.00 0.00 0.00 -------------- ------------ ------------- ---- Totals 628,819,503.66 1,685,217.91 10,806,638.13 0.00 -------------- ------------ ------------- ---- Ending Certificate Total Cumulative Class CUSIP Balance Distribution Realized Loss - ----- ----- -------------- ------------- ------------- A 81744FAN7 590,012,796.53 11,903,759.45 0.00 X-1 81744FAP2 0.00 344,304.16 0.00 X-2 81744FAQ0 0.00 168,753.06 0.00 X-B 81744FAR8 0.00 11,185.39 0.00 B-1 81744FAT4 11,550,000.00 22,245.78 0.00 B-2 81744FAU1 7,000,000.00 16,282.29 0.00 B-3 81744FAV9 3,150,000.00 8,441.91 0.00 B-4 81744FAW7 1,750,000.00 4,689.95 0.00 B-5 81744FAX5 1,400,000.00 3,751.96 0.00 B-6 81744FAY6 3,150,069.00 8,442.09 0.00 A-R 81744FAS6 0.00 0.00 0.00 -------------- ------------- ---- Totals 618,012,865.53 12,491,856.04 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 671,998,000.00 600,819,434.66 0.00 10,806,638.13 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 11,550,000.00 11,550,000.00 0.00 0.00 0.00 0.00 B-2 7,000,000.00 7,000,000.00 0.00 0.00 0.00 0.00 B-3 3,150,000.00 3,150,000.00 0.00 0.00 0.00 0.00 B-4 1,750,000.00 1,750,000.00 0.00 0.00 0.00 0.00 B-5 1,400,000.00 1,400,000.00 0.00 0.00 0.00 0.00 B-6 3,150,069.00 3,150,069.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Totals 699,998,169.00 628,819,503.66 0.00 10,806,638.13 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ------ ------------- -------------- ---------- --------------- A 10,806,638.13 590,012,796.53 0.87799785 10,806,638.13 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 11,550,000.00 1.00000000 0.00 B-2 0.00 7,000,000.00 1.00000000 0.00 B-3 0.00 3,150,000.00 1.00000000 0.00 B-4 0.00 1,750,000.00 1.00000000 0.00 B-5 0.00 1,400,000.00 1.00000000 0.00 B-6 0.00 3,150,069.00 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ------------- -------------- ---------- ------------- Totals 10,806,638.13 618,012,865.53 0.88287783 10,806,638.13 ------------- -------------- ---------- -------------
(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 671,998,000.00 894.07920062 0.00000000 16.08135460 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 11,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 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 Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- ----------- ------------- ----------- --------------- A 16.08135460 877.99784602 0.87799785 16.08135460 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- Current Certificate/ Current Unpaid Current Supported Original Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------ -------------- ----------- -------------- ------------ ---------- --------- --------- -------- A 671,998,000.00 2.19125% 600,819,434.66 1,097,121.32 0.00 0.00 0.00 0.00 X-1 0.00 0.80000% 516,456,232.58 344,304.16 0.00 0.00 0.00 0.00 X-2 0.00 0.33705% 600,819,434.66 168,753.06 0.00 0.00 0.00 0.00 X-B 0.00 0.72358% 18,550,000.00 11,185.39 0.00 0.00 0.00 0.00 B-1 11,550,000.00 2.31125% 11,550,000.00 22,245.78 0.00 0.00 0.00 0.00 B-2 7,000,000.00 2.79125% 7,000,000.00 16,282.29 0.00 0.00 0.00 0.00 B-3 3,150,000.00 3.21596% 3,150,000.00 8,441.91 0.00 0.00 0.00 0.00 B-4 1,750,000.00 3.21596% 1,750,000.00 4,689.95 0.00 0.00 0.00 0.00 B-5 1,400,000.00 3.21596% 1,400,000.00 3,751.96 0.00 0.00 0.00 0.00 B-6 3,150,069.00 3.21596% 3,150,069.00 8,442.09 0.00 0.00 0.00 0.00 A-R 100.00 2.67176% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Totals 699,998,169.00 1,685,217.91 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------ -------------- --------- -------------- A 1,097,121.32 0.00 590,012,796.53 X-1 344,304.16 0.00 497,257,688.40 X-2 168,753.06 0.00 590,012,796.53 X-B 11,185.39 0.00 18,550,000.00 B-1 22,245.78 0.00 11,550,000.00 B-2 16,282.29 0.00 7,000,000.00 B-3 8,441.91 0.00 3,150,000.00 B-4 4,689.95 0.00 1,750,000.00 B-5 3,751.96 0.00 1,400,000.00 B-6 8,442.09 0.00 3,150,069.00 A-R 0.00 0.00 0.00 ------------ ---- Totals 1,685,217.91 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 Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - --------- -------------- ----------- ---------------- --------------- ---------- ---------- ---------- ---------- A 671,998,000.00 2.19125% 894.07920062 1.63262587 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.80000% 768.53834770 0.51235891 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.33705% 894.07920062 0.25112137 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.72358% 1000.00000000 0.60298598 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 2.31125% 1000.00000000 1.92604156 0.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 2.79125% 1000.00000000 2.32604143 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 3.21596% 1000.00000000 2.67997143 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 3.21596% 1000.00000000 2.67997143 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 3.21596% 1000.00000000 2.67997143 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 3.21596% 1000.00000000 2.67996987 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.67176% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Total Interest Interest Ending Certificate Class (5) Distribution Shortfall Notational Balance - --------- -------------- ---------- ------------------- A 1.63262587 0.00000000 877.99784602 X-1 0.51235891 0.00000000 739.96900050 X-2 0.25112137 0.00000000 877.99784602 X-B 0.60298598 0.00000000 1000.00000000 B-1 1.92604156 0.00000000 1000.00000000 B-2 2.32604143 0.00000000 1000.00000000 B-3 2.67997143 0.00000000 1000.00000000 B-4 2.67997143 0.00000000 1000.00000000 B-5 2.67997143 0.00000000 1000.00000000 B-6 2.67996987 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 12,692,480.01 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 25,268.71 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 12,717,748.72 Withdrawals Reimbursement for Servicer Advances 23,026.36 Payment of Service Fee 202,866.32 Payment of Interest and Principal 12,491,856.04 ------------- Total Withdrawals (Pool Distribution Amount) 12,717,748.72 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 197,888.16 Master Servicing Fee 4,978.16 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 202,866.32 ==========
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 30 8,644,296.88 60 Days 0. 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 506,400.00 180+ Days 0 0.00 ---- ------------ 31 9,150,696.88
No. of Principal Loans Balance --------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 1.645639% 1.398723% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.054855% 0.081940% 180+ Days 0.000000% 0.000000% -------- -------- 1.700494% 1.480662%
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 30 8,644,296.88 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 506,400.00 180+ Days 0 0.00 ---- ------------ 31 9,150,696.88
No. of Principal Loans Balance --------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 1.645639% 1.398723% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.054855% 0.081940% 180+ Days 0.000000% 0.000000% -------- -------- 1.700494% 1.480662%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 25,268.71
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ----------- ------------- ----------- --------------- ------------ Class A 28,000,069.00 4.00002032% 28,000,069.00 4.53066118% 95.469339% 0.000000% Class X-1 28,000,069.00 4.00002032% 28,000,069.00 4.53066118% 0.000000% 0.000000% Class X-2 28,000,069.00 4.00002032% 28,000,069.00 4.53066118% 0.000000% 0.000000% Class B-1 16,450,069.00 2.35001600% 16,450,069.00 2.66176805% 1.868893% 41.249898% Class B-2 9,450,069.00 1.35001339% 9,450,069.00 1.52910555% 1.132663% 24.999938% Class B-3 6,300,069.00 0.90001221% 6,300,069.00 1.01940742% 0.509698% 11.249972% Class B-4 4,550,069.00 0.65001156% 4,550,069.00 0.73624179% 0.283166% 6.249985% Class B-5 3,150,069.00 0.45001103% 3,150,069.00 0.50970929% 0.226533% 4.999988% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.509709% 11.250219%
Please refer to the prospectus supplement for a full description of loss exposure COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.603102% Weighted Average Net Coupon 3.225465% Weighted Average Pass-Through Rate 3.215965% Weighted Average Maturity (Stepdown Calculation) 337 Beginning Scheduled Collateral Loan Count 1,851 Number of Loans Paid in Full 28 Ending Scheduled Collateral Loan Count 1,823 Beginning Scheduled Collateral Balance 628,819,503.73 Ending Scheduled Collateral Balance 618,012,865.60 Ending Actual Collateral Balance at 30-Sept-2004 618,013,706.40 Monthly P&I Constant 1,888,084.23 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 12,428,002.06 Ending Scheduled Balance for Premium Loans 618,012,865.60 Scheduled Principal 0.00 Unscheduled Principal 10,806,638.13
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 71,681,830.12 Six-Month Libor Loan Balance 546,331,035.48 Prorata Senior Percentage 95.547201% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%