SMT Series 2004-3 Certificateholder Distribution Statement by Wells Fargo Bank Minnesota, N.A.

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. for certificateholders of the SMT Series 2004-3 trust. It summarizes the interest and principal payments made to holders of various classes of certificates as of September 30, 2004, with distributions occurring on October 20, 2004. The statement details the amounts distributed, remaining balances, and any realized losses, as calculated under the Pooling and Servicing Agreement. No realized losses or interest shortfalls are reported for this period.

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EX-10.1 2 f03043eexv10w1.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 2004-3 RECORD DATE: SEPTEMBER 30, 2004 DISTRIBUTION DATE: OCTOBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass- Certificate Interest Principal Class CUSIP Description Through Rate Balance Distribution Distribution - ----- --------- ----------- ------------ -------------- ------------ ------------- A 81744FAZ0 SEN 2.33000% 810,524,611.20 1,573,768.63 16,924,919.01 M-1 81744FBA4 SUB 2.31125% 13,800,000.00 26,579.38 0.00 M-2 81744FBB2 SUB 2.71125% 9,200,000.00 20,786.25 0.00 M-3 81744FBC0 SUB 3.36206% 2,300,000.00 6,443.95 0.00 X 81744FBD8 IO 0.00000% 0.00 727,052.76 0.00 R 81744FBE6 RES 0.00000% 0.00 0.00 0.00 -------------- ------------ ------------- Totals 835,824,611.20 2,354,630.97 16,924,919.01 -------------- ------------ ------------- Ending Current Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ----- --------- -------------- -------------- ------------- ------------- A 81744FAZ0 0.00 793,599,692.19 18,498,687.64 0.00 M-1 81744FBA4 0.00 13,800,000.00 26,579.38 0.00 M-2 81744FBB2 0.00 9,200,000.00 20,786.25 0.00 M-3 81744FBC0 0.00 2,300,000.00 6,443.95 0.00 X 81744FBD8 0.00 0.00 727,052.76 0.00 R 81744FBE6 0.00 0.00 0.00 0.00 ---- -------------- ------------- ---- Totals 0.00 818,899,692.19 19,279,549.98 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 894,673,000.00 810,524,611.20 0.00 16,924,919.01 0.00 0.00 M-1 13,800,000.00 13,800,000.00 0.00 0.00 0.00 0.00 M-2 9,200,000.00 9,200,000.00 0.00 0.00 0.00 0.00 M-3 2,300,000.00 2,300,000.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Totals 919,973,000.00 835,824,611.20 0.00 16,924,919.01 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- ------------- -------------- ----------- --------------- A 16,924,919.01 793,599,692.19 0.88702765 16,924,919.01 M-1 0.00 13,800,000.00 1.00000000 0.00 M-2 0.00 9,200,000.00 1.00000000 0.00 M-3 0.00 2,300,000.00 1.00000000 0.00 X 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 ------------- -------------- ---------- ------------- Totals 16,924,919.01 818,899,692.19 0.89013448 16,924,919.01 ------------- -------------- ---------- -------------
(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 894,673,000.00 905.94508966 0.00000000 18.91743577 0.00000000 0.00000000 M-1 13,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- ----------- ------------- ----------- --------------- A 18.91743577 887.02765389 0.88702765 18.91743577 M-1 0.00000000 1000.00000000 1.00000000 0.00000000 M-2 0.00000000 1000.00000000 1.00000000 0.00000000 M-3 0.00000000 1000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 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- Original Face Current Certificate/ Current Unpaid Current Supported Class Amount Certificate Notional Accrued Interest Interest Interest Realized Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------ -------------- ----------- -------------- ------------ ---------- --------- --------- -------- A 894,673,000.00 2.33000% 810,524,611.20 1,573,768.62 0.00 0.00 (0.01) 0.00 M-1 13,800,000.00 2.31125% 13,800,000.00 26,579.38 0.00 0.00 0.00 0.00 M-2 9,200,000.00 2.71125% 9,200,000.00 20,786.25 0.00 0.00 0.00 0.00 M-3 2,300,000.00 3.36206% 2,300,000.00 6,443.95 0.00 0.00 0.00 0.00 X 0.00 0.00000% 840,424,479.17 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ----- ---- Totals 919,973,000.00 1,627,578.20 0.00 0.00 (0.01) 0.00 -------------- ------------ ---- ---- ----- ---- Remaining Ending Unpaid Certificate/ Class Total Interest Interest Notational Distribution Shortfall Balance - ------ -------------- --------- --------------- A 1,573,768.63 0.00 793,599,692.19 M-1 26,579.38 0.00 13,800,000.00 M-2 20,786.25 0.00 9,200,000.00 M-3 6,443.95 0.00 2,300,000.00 X 727,052.76 0.00 823,499,560.16 R 0.00 0.00 0.00 ------------ ---- Totals 2,354,630.97 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 Current Beginning Current Unpaid Current Non-Supported Class (5) Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - --------- --------------- ----------- ---------------- ---------- ---------- ---------- ------------- ---------- A 894,673,000.00 2.33000% 905.94508966 1.75904338 0.00000000 0.00000000 (0.0000001) 0.00000000 M-1 13,800,000.00 2.31125% 1000.00000000 1.92604203 0.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 2.71125% 1000.00000000 2.25937500 0.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 3.36206% 1000.00000000 2.80171739 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 913.53108895 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Unpaid Certificate/ Class (5) Total Interest Interest Notational Distribution Shortfall Balance - --------- -------------- ---------- ------------- A 1.75904339 0.00000000 887.02765389 M-1 1.92604203 0.00000000 1000.00000000 M-2 2.25937500 0.00000000 1000.00000000 M-3 2.80171739 0.00000000 1000.00000000 X 0.79029742 0.00000000 895.13390982 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 19,503,188.13 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 73,819.21 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 19,577,007.34 Withdrawals Reimbursement for Servicer Advances 30,122.91 Payment of Service Fee 267,334.46 Payment of Interest and Principal 19,279,549.97 ------------- Total Withdrawals (Pool Distribution Amount) 19,577,007.34 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 (0.01) =====
SERVICING FEES Gross Servicing Fee 262,782.15 Master Servicing Fee 4,552.31 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 267,334.46 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ --------- ----------- -------- --------- Reserve Fund 10,000.00 0.00 0.00 10,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance --------- ------------- 0-29 Days 0 0.00 30 Days 75 23,193,419.43 60 Days 1 172,939.62 90 Days 4 2,139,203.89 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 ----- ------------- 80 25,505,562.94
No. of Principal Loans Balance --------- ------------- 0-29 Days 0.000000% 0.000000% 30 Days 2.904725% 2.816433% 60 Days 0.038730% 0.021000% 90 Days 0.154919% 0.259769% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 3.098373% 3.097203%
BANKRUPTCY
No. of Principal Loans Balance --------- ------------- 0-29 Days 1 124,570.47 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 --- ---------- 1 124,570.47
No. of Principal Loans Balance --------- ------------- 0-29 Days 0.038730% 0.015127% 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% -------- -------- 0.038730% 0.015127%
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 1 124,570.47 30 Days 75 23,193,419.43 60 Days 1 172,939.62 90 Days 4 2,139,203.89 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 ---- ------------- 81 25,630,133.41
No. of Principal Loans Balance --------- ------------- 0-29 Days 0.038730% 0.015127% 30 Days 2.904725% 2.816433% 60 Days 0.038730% 0.021000% 90 Days 0.154919% 0.259769% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 3.137103% 3.112329%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 73,819.21
COLLATERAL STATEMENT Collateral Description Mixed Arm Weighted Average Gross Coupon 3.744936% Weighted Average Net Coupon 3.369723% Weighted Average Pass-Through Rate 3.362060% Weighted Average Maturity (Stepdown Calculation) 339 Beginning Scheduled Collateral Loan Count 2,621 Number of Loans Paid in Full 39 Ending Scheduled Collateral Loan Count 2,582 Beginning Scheduled Collateral Balance 840,424,479.17 Ending Scheduled Collateral Balance 823,499,560.16 Ending Actual Collateral Balance at 30-Sept-2004 823,503,222.89 Monthly P&I Constant 2,622,779.93 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 823,499,560.16 Scheduled Principal 0.00 Unscheduled Principal 16,924,919.01 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 4,599,867.97 Overcollateralization Amount 4,599,867.97 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00 Extra Principal Distribution Amount 0.00 Excess Cash Amount 727,052.77
MISCELLANEOUS REPORTING Applied Loss Amount 0.00 1 Month LIBOR Loan Balance 82,545,823.74 6 Month LIBOR Loan Balance 740,953,736.42 M-1 Target Amount 794,677,075.55 M-2 Target Amount 811,147,066.76 M-3 Target Amount 815,264,564.56 Senior Target Amount 769,972,088.75 Step Down Date Reached? No Trigger Event? No