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

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2004-3 trust. It summarizes the principal and interest payments made to certificateholders as of August 31, 2004, with distributions occurring on September 20, 2004. The statement details the amounts distributed to each class of certificates, the remaining balances, and any realized losses. All calculations are made in accordance with the Pooling and Servicing Agreement governing the trust.

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EX-10.1 2 f02248cexv10w1.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 ###-###-#### FAX: (301) 315-6660 SMT SERIES 2004-3 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 81744FAZ0 SEN 1.40000% 827,555,016.07 965,480.87 17,030,404.87 M-1 81744FBA4 SUB 2.10000% 13,800,000.00 24,150.00 0.00 M-2 81744FBB2 SUB 2.50000% 9,200,000.00 19,166.67 0.00 M-3 81744FBC0 SUB 3.05022% 2,300,000.00 5,846.26 0.00 X 81744FBD8 IO 0.00000% 0.00 1,164,881.04 0.00 R 81744FBE6 RES 0.00000% 0.00 0.00 0.00 - ------ -------------- ------------ ------------- Totals 852,855,016.07 2,179,524.84 17,030,404.87 - ------ -------------- ------------ ------------- Current Ending Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ------ --------- ------------- ------------------ ------------- ------------- A 81744FAZ0 0.00 810,524,611.20 17,995,885.74 0.00 M-1 81744FBA4 0.00 13,800,000.00 24,150.00 0.00 M-2 81744FBB2 0.00 9,200,000.00 19,166.67 0.00 M-3 81744FBC0 0.00 2,300,000.00 5,846.26 0.00 X 81744FBD8 0.00 0.00 1,164,881.04 0.00 R 81744FBE6 0.00 0.00 0.00 0.00 - ------ ---- -------------- ------------- ---- Totals 0.00 835,824,611.20 19,209,929.71 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 894,673,000.00 827,555,016.07 0.00 17,030,404.87 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 919,973,000.00 852,855,016.07 0.00 17,030,404.87 0.00 0.00 - ------ -------------- -------------- ---- ------------- ---- ---- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ------ --------------- ------------------ ------------------ -------------- A 17,030,404.87 810,524,611.20 0.90594509 17,030,404.87 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 17,030,404.87 835,824,611.20 0.90853168 17,030,404.87 - ------ ------------- -------------- ---------- -------------
(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 894,673,000.00 924.98042980 0.00000000 19.03534014 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 Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------------- ------------------ ------------------ --------------- A 19.03534014 905.94508966 0.90594509 19.03534014 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- 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 894,673,000.00 1.40000% 827,555,016.07 965,480.85 0.00 0.00 (0.02) 0.00 M-1 13,800,000.00 2.10000% 13,800,000.00 24,150.00 0.00 0.00 0.00 0.00 M-2 9,200,000.00 2.50000% 9,200,000.00 19,166.67 0.00 0.00 0.00 0.00 M-3 2,300,000.00 3.05022% 2,300,000.00 5,846.26 0.00 0.00 0.00 0.00 X 0.00 0.00000% 857,454,884.04 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 1,014,643.78 0.00 0.00 (0.02) 0.00 - ------ -------------- ------- -------------- ------------ ---- ---- ----- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------ -------------- --------- -------------- A 965,480.87 0.00 810,524,611.20 M-1 24,150.00 0.00 13,800,000.00 M-2 19,166.67 0.00 9,200,000.00 M-3 5,846.26 0.00 2,300,000.00 X 1,164,881.04 0.00 840,424,479.17 R 0.00 0.00 0.00 - ------ ------------ ---- -------------- Totals 2,179,524.84 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 Class Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ----- -------------- ----------- ---------------- ------------- ----------- ----------- ---------- ---------- A 894,673,000.00 1.40000% 924.98042980 1.07914383 0.00000000 0.00000000 (0.0000002) 0.00000000 M-1 13,800,000.00 2.10000% 1000.00000000 1.75000000 0.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 2.50000% 1000.00000000 2.08333370 0.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 3.05022% 1000.00000000 2.54185217 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 932.04292992 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 Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance - ----- -------------- ---------- ------------------- A 1.07914385 0.00000000 905.94508966 M-1 1.75000000 0.00000000 1000.00000000 M-2 2.08333370 0.00000000 1000.00000000 M-3 2.54185217 0.00000000 1000.00000000 X 1.26621139 0.00000000 913.53108895 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 19,549,432.02 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 30,122.91 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 19,579,554.93 Withdrawals Reimbursement for Servicer Advances 96,875.99 Payment of Service Fee 272,749.23 Payment of Interest and Principal 19,209,929.71 ------------- Total Withdrawals (Pool Distribution Amount) 19,579,554.93 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 (0.02) =====
SERVICING FEES Gross Servicing Fee 268,104.68 Master Servicing Fee 4,644.55 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 272,749.23 ==========
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 29 9,242,148.73 60 Days 5 2,312,143.51 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------- 34 11,554,292.24
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.106448% 1.099700% 60 Days 0.190767% 0.275116% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 1.297215% 1.374816%
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 29 9,242,148.73 60 Days 5 2,312,143.51 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------- 34 11,554,292.24
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.106448% 1.099700% 60 Days 0.190767% 0.275116% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 1.297215% 1.374816%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 30,122.91
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.433074% Weighted Average Net Coupon 3.057864% Weighted Average Pass-Through Rate 3.050224% Weighted Average Maturity (Stepdown Calculation) 340 Beginning Scheduled Collateral Loan Count 2,663 Number of Loans Paid in Full 42 Ending Scheduled Collateral Loan Count 2,621 Beginning Scheduled Collateral Balance 857,454,884.04 Ending Scheduled Collateral Balance 840,424,479.17 Ending Actual Collateral Balance at 31-Aug-2004 840,424,441.59 Monthly P&I Constant 2,453,088.64 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 840,424,479.17 Scheduled Principal 0.00 Unscheduled Principal 17,030,404.87 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 0.00 Extra Principal Distribution Amount Excess Cash Amount 1,164,881.06
MISCELLANEOUS REPORTING Applied Loss Amount 0.00 1 Month LIBOR Loan Balance 84,058,928.51 6 Month LIBOR Loan Balance 756,365,550.66 M-1 Target Amount 811,009,622.40 M-2 Target Amount 827,818,111.98 M-3 Target Amount 832,020,234.38 Senior Target Amount 785,796,888.02 Step Down Date Reached? No Trigger Event? No