Certificateholder Distribution Summary for SMT Series 2004-2 Administered by Wells Fargo Bank Minnesota, N.A.

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Summary

This document is a distribution summary for certificateholders of the SMT Series 2004-2, prepared by Wells Fargo Bank Minnesota, N.A. It details the interest and principal payments made to holders of various classes of certificates as of August 31, 2004, with distributions occurring on September 20, 2004. The summary includes payment amounts, outstanding balances, and loss information, as calculated under the Pooling and Servicing Agreement. No realized losses are reported for this period, and all distributions are in accordance with the governing agreement.

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EX-10.1 2 f02248bexv10w1.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: AUGUST 31, 2004 DISTRIBUTION DATE: SEPTEMBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Class CUSIP Description Through Rate Balance Distribution Distribution - ----- ----- ----------- ---------------- ----------- ------------ ------------ A 81744FAN7 SEN 2.19125% 615,014,744.56 1,123,042.55 14,195,309.90 X-1 81744FAP2 IO 0.80000% 0.00 357,571.00 0.00 X-2 81744FAQ0 IO 0.30792% 0.00 157,813.60 0.00 X-B 81744FAR8 IO 0.91572% 0.00 14,155.54 0.00 B-1 81744FAT4 SUB 2.00000% 11,550,000.00 20,212.50 0.00 B-2 81744FAU1 SUB 2.58000% 7,000,000.00 15,050.00 0.00 B-3 81744FAV9 SUB 3.19685% 3,150,000.00 8,391.74 0.00 B-4 81744FAW7 SUB 3.19685% 1,750,000.00 4,662.08 0.00 B-5 81744FAX5 SUB 3.19885% 1,400,000.00 3,729.66 0.00 B-6 81744FAY6 SUB 3.19685% 3,150,069.00 8,391.93 0.00 A-R 81744FAS6 RES 2.67269% 0.00 0.00 0.00 -------------- ------------ ------------- Totals 643,014,813.56 1,713,020.60 14,195,309.90 -------------- ------------ ------------- Current Ending Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ----- ----- ------------- ------------------- ------------ ------------- A 81744FAN7 0.00 600,819,434.66 15,318,352.45 0.00 X-1 81744FAP2 0.00 0.00 357,571.00 0.00 X-2 81744FAQ0 0.00 0.00 157,813.60 0.00 X-B 81744FAR8 0.00 0.00 14,155.54 0.00 B-1 81744FAT4 0.00 11,550,000.00 20,212.50 0.00 B-2 81744FAU1 0.00 7,000,000.00 15,050.00 0.00 B-3 81744FAV9 0.00 3,150,000.00 8,391.74 0.00 B-4 81744FAW7 0.00 1,750,000.00 4,662.08 0.00 B-5 81744FAX5 0.00 1,400,000.00 3,729.66 0.00 B-6 81744FAY6 0.00 3,150,069.00 8,391.93 0.00 A-R 81744FAS6 0.00 0.00 0.00 0.00 ---- -------------- ------------- ---- Totals 0.00 628,819,503.66 15,908,330.50 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 Class Amount Balance Distribution Distribution Accretion - ----- ------------- ------------ ------------ ------------ --------- A 671,998,000.00 615,014,744.56 0.00 14,195,309.90 0.00 X-1 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 X-B 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 B-2 7,000,000.00 7,000,000.00 0.00 0.00 0.00 B-3 3,150,000.00 3,150,000.00 0.00 0.00 0.00 B-4 1,750,000.00 1,750,000.00 0.00 0.00 0.00 B-5 1,400,000.00 1,400,000.00 0.00 0.00 0.00 B-6 3,150,069.00 3,150,069.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- Totals 699,998,169.00 643,014,831.56 0.00 14,195,309.90 0.00 -------------- -------------- ---- ------------- ---- Total Realized Principal Ending Certificate Ending Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ----- -------- --------- ------------------ ------------------ -------------- A 0.00 14,195,309.90 600,819,434.66 0.89407920 14,195,309.90 X-1 0.00 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 11,550,000.00 1.00000000 0.00 B-2 0.00 0.00 7,000,000.00 1.00000000 0.00 B-3 0.00 0.00 3,150,000.00 1.00000000 0.00 B-4 0.00 0.00 1,750,000.00 1.00000000 0.00 B-5 0.00 0.00 1,400,000.00 1.00000000 0.00 B-6 0.00 0.00 3,150,069.00 1.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 ---- ------------- -------------- ---------- ------------- Totals 0.00 14,195,309.90 628,819,503.66 0.89831593 14,195,309.90 ---- ------------- -------------- ---------- -------------
(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 671,998,000.00 915.20323656 0.00000000 21.12403593 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 Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution - ----- ---------- ------------- ----------- ------------ A 21.12403593 894.07920062 0.89407920 21.12403593 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% 615,014,744.56 1,123,042.55 0.00 0.00 0.00 0.00 X-1 0.00 0.80000% 536,356,497.18 357,571.00 0.00 0.00 0.00 0.00 X-2 0.00 0.30792% 615,014,744.56 157,813.60 0.00 0.00 0.00 0.00 X-B 0.00 0.91572% 18,550,000.00 14,155.54 0.00 0.00 0.00 0.00 B-1 11,550,000.00 2.10000% 11,550,000.00 20,212.50 0.00 0.00 0.00 0.00 B-2 7,000,000.00 2.58000% 7,000,000.00 15,050.00 0.00 0.00 0.00 0.00 B-3 3,150,000.00 3.19685% 3,150,000.00 8,391.74 0.00 0.00 0.00 0.00 B-4 1,750,000.00 3.19685% 1,750,000.00 4,662.08 0.00 0.00 0.00 0.00 B-5 1,400,000.00 3.19685% 1,400,000.00 3,729.66 0.00 0.00 0.00 0.00 B-6 3,150,069.00 3.19685% 3,150,069.00 8,391.93 0.00 0.00 0.00 0.00 A-R 100.00 2.67269% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Totals 699,998,169.00 1,713,020.60 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Remaining Ending Total Unpaid Certificate/ Interest Interest Notational Class Distribution Shortfall Balance - ----- -------------- --------- --------------- A 1,123,042.55 0.00 600,819,434.66 X-1 357,571.00 0.00 516,456,232.58 X-2 157,813.60 0.00 600,819,434.66 X-B 14,155.54 0.00 18,550,000.00 B-1 20,212.50 0.00 11,550,000.00 B-2 15,050.00 0.00 7,000,000.00 B-3 8,391.74 0.00 3,150,000.00 B-4 4,662.08 0.00 1,750,000.00 B-5 3,729.66 0.00 1,400,000.00 B-6 8,391.93 0.00 3,150,069.00 A-R 0.00 0.00 0.00 ------------ ---- -------------- Totals 1,713,020.60 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 Current Unpaid Current Supported Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - --------- -------------- ----------- ---------------- ---------- ---------- ---------- ---------- --------- A 671,998,000.00 2.19125% 915.20323656 1.67119924 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.80000% 798.15192483 0.53210129 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.30792% 915.20323656 0.23484237 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.91572% 1000.00000000 0.76310189 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 2.10000% 1000.00000000 1.75000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 2.58000% 1000.00000000 2.15000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 3.19685% 1000.00000000 2.66404444 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 3.19685% 1000.00000000 2.66404571 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 3.19685% 1000.00000000 2.66404286 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 3.19685% 1000.00000000 2.66404641 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.67269% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Total Unpaid Certificate/ Interest Interest Notational Class (5) Distribution Shortfall Balance - --------- ------------ ---------- ------------- A 1.67119924 0.00000000 894.07920062 X-1 0.53210129 0.00000000 768.53834770 X-2 0.23484237 0.00000000 894.07920062 X-B 0.76310189 0.00000000 1000.00000000 B-1 1.75000000 0.00000000 1000.00000000 B-2 2.15000000 0.00000000 1000.00000000 B-3 2.66404444 0.00000000 1000.00000000 B-4 2.66404571 0.00000000 1000.00000000 B-5 2.66404286 0.00000000 1000.00000000 B-6 2.66404641 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 16,115,103.47 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 23,026.36 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 16,138,129.38 Withdrawals Reimbursement for Servicer Advances 22,384.14 Payment of Service Fee 207,415.19 Payment of Interest and Principal 15,908,330.50 ------------- Total Withdrawals (Pool Distribution Amount) 16,138,129.83 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 202,324.67 Master Servicing Fee 5,090.52 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 207,415.19 ==========
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 18 7,642,237.63 60 Days 2 248,299.54 90 Days 0 0.00 120 Days 1 506,400.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 21 8,396,937.17
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.972447% 1.215329% 60 Days 0.108050% 0.039487% 90 Days 0.000000% 0.000000% 120 Days 0.054025% 0.080532% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 1.134522% 1.335347%
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 18 7,642,237.63 60 Days 2 248,299.54 90 Days 0 0.00 120 Days 1 506,400.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 21 8,396,937.17
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.972447% 1.215329% 60 Days 0.108050% 0.039487% 90 Days 0.000000% 0.000000% 120 Days 0.054025% 0.080532% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 1.134522% 1.335347%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 23,026.36
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ----------- ------------- ----------- --------------- ------------ Class A 28,000,069.00 4.00002032% 28,000,069.00 4.45279907% 95.547201% 0.000000% Class X-1 28,000,069.00 4.00002032% 28,000,069.00 4.45279907% 0.000000% 0.000000% Class X-2 28,000,069.00 4.00002032% 28,000,069.00 4.45279907% 0.000000% 0.000000% Class B-1 16,450,069.00 2.35001600% 16,450,069.00 2.61602398% 1.836775% 41.249898% Class B-2 9,450,069.00 1.35001339% 9,450,069.00 1.50282695% 1.113197% 24.999938% Class B-3 6,300,069.00 0.90001221% 6,300,069.00 1.00188829% 0.500939% 11.249972% Class B-4 4,550,069.00 0.65001156% 4,550,069.00 0.72358904% 0.278299% 6.249985% Class B-5 3,150,069.00 0.45001103% 3,150,069.00 0.50094963% 0.222639% 4.999988% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.500950% 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 3.583934% Weighted Average Net Coupon 3.206354% Weighted Average Pass-Through Rate 3.196854% Weighted Average Maturity (Stepdown Calculation) 338 Beginning Scheduled Collateral Loan Count 1,885 Number of Loans Paid in Full 34 Ending Scheduled Collateral Loan Count 1,851 Beginning Scheduled Collateral Balance 643,014,813.63 Ending Scheduled Collateral Balance 628,819,503.73 Ending Actual Collateral Balance at 31-Aug-2004 628,820,474.91 Monthly P&I Constant 1,920,435.81 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 15,847,892.59 Ending Scheduled Balance for Premium Loans 628,819,503.73 Scheduled Principal 0.00 Unscheduled Principal 14,195,309.90
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 72,347,915.21 Six-Month Libor Loan Balance 556,471,588.52 Prorata Senior Percentage 95.645502% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%