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

Contract Categories: Business Operations › Distribution Agreements
Summary

This document, prepared by Wells Fargo Bank Minnesota, N.A., summarizes the distribution of principal and interest to holders of various classes of certificates for the SMT Series 2004-2 as of June 30, 2004, with distributions made on July 21, 2004. It details the amounts paid, outstanding balances, and interest rates for each certificate class, as well as any realized losses. The report is prepared in accordance with the Pooling and Servicing Agreement and is intended for certificateholders and related parties.

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EX-10.1 2 f00740cexv10w1.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: JUNE 30, 2004 DISTRIBUTION DATE: JULY 21, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass- Certificate Interest Principal Class CUSIP Description Through Rate Balance Distribution Distribution - -------------------------------------------------------------------------------------------- A 81744FAN7 SEN 1.45000% 646,762,283.43 781,504.43 13,558,352.28 X-1 81744FAP2 IO 0.80000% 0.00 385,585.39 0.00 X-2 81744FAQ0 IO 0.58789% 0.00 316,860.11 0.00 X-B 81744FAR8 IO 0.79215% 0.00 12,247.19 0.00 B-1 81744FAT4 SUB 1.78000% 11,550,000.00 17,132.50 0.00 B-2 81744FAU1 SUB 2.26000% 7,000,000.00 13,183.33 0.00 B-3 81744FAV9 SUB 2.75328% 3,150,000.00 7,227.37 0.00 B-4 81744FAW7 SUB 2.75328% 1,750,000.00 4,015.21 0.00 B-5 81744FAX5 SUB 2.75328% 1,400,000.00 3,212.16 0.00 B-6 81744FAY6 SUB 2.75328% 3,150,069.00 7,227.53 0.00 A-R 81744FAS6 RES 2.74841% 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------- Totals 674,762,352.43 1,548,195.22 13,558,352.28 - -------------------------------------------------------------------------------------------- Ending Current Certificate Total Cumulative Class Realized Loss Balance Distribution Realized Loss - --------------------------------------------------------------------- A 0.00 633,203,931.15 14,339,856.71 0.00 X-1 0.00 0.00 385,585.39 0.00 X-2 0.00 0.00 316,860.11 0.00 X-B 0.00 0.00 12,247.19 0.00 B-1 0.00 11,550,000.00 17,132.50 0.00 B-2 0.00 7,000,000.00 13,183.33 0.00 B-3 0.00 3,150,000.00 7,227.37 0.00 B-4 0.00 1,750,000.00 4,015.21 0.00 B-5 0.00 1,400,000.00 3,212.16 0.00 B-6 0.00 3,150,069.00 7,227.53 0.00 A-R 0.00 0.00 0.00 0.00 - --------------------------------------------------------------------- Totals 0.00 661,204,000.15 15,106,547.50 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 Realized Class Amount Balance Distribution Distribution Accretion Loss (1) - ------------------------------------------------------------------------------------------ A 671,998,000.00 646,762,283.43 0.00 13,558,352.28 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 699,998,169.00 674,762,352.43 0.00 13,558,352.28 0.00 0.00 - ------------------------------------------------------------------------------------------ Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - --------------------------------------------------------------------- A 13,558,352.28 633,203,931.15 0.94227056 13,558,352.28 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 13,558,352.28 661,204,000.15 0.94457961 13,558,352.28 - ---------------------------------------------------------------------
(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 671,998,000.00 962.44673858 0.00000000 20.17617951 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 20.17617951 942.27055906 0.94227056 20.17617951 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 1.45000% 646,762,283.43 781,504.43 0.00 0.00 0.00 0.00 X-1 0.00 0.80000% 578,365,718.65 385,577.15 0.00 0.00 0.00 0.00 X-2 0.00 0.58789% 646,762,283.43 316,851.87 0.00 0.00 0.00 0.00 X-B 0.00 0.79215% 18,550,000.00 12,245.35 0.00 0.00 0.00 0.00 B-1 11,550,000.00 1.78000% 11,550,000.00 17,132.50 0.00 0.00 0.00 0.00 B-2 7,000,000.00 2.26000% 7,000,000.00 13,183.33 0.00 0.00 0.00 0.00 B-3 3,150,000.00 2.75328% 3,150,000.00 7,227.37 0.00 0.00 0.00 0.00 B-4 1,750,000.00 2.75328% 1,750,000.00 4,015.21 0.00 0.00 0.00 0.00 B-5 1,400,000.00 2.75328% 1,400,000.00 3,212.16 0.00 0.00 0.00 0.00 B-6 3,150,069.00 2.75328% 3,150,069.00 7,227.53 0.00 0.00 0.00 0.00 A-R 100.00 2.74841% 0.00 0.00 0.00 0.00 0.00 0.00 - --------------------------------------------------------------------------------------------------------------------- Totals 699,998,169.00 1,548,176.90 0.00 0.00 0.00 0.00 - --------------------------------------------------------------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------------------------------------------------- A 781,504.43 0.00 633,203,931.15 X-1 385,585.39 0.00 556,984,130.59 X-2 316,860.11 0.00 633,203,931.15 X-B 12,247.19 0.00 18,550,000.00 B-1 17,132.50 0.00 11,550,000.00 B-2 13,183.33 0.00 7,000,000.00 B-3 7,227.37 0.00 3,150,000.00 B-4 4,015.21 0.00 1,750,000.00 B-5 3,212.16 0.00 1,400,000.00 B-6 7,227.53 0.00 3,150,069.00 A-R 0.00 0.00 0.00 - ------------------------------------------------- Totals 1,548,195.22 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 1.45000% 962.44673858 1.16295648 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.80000% 860.66583331 0.57377723 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.58789% 962.44673858 0.47150716 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.79215% 1000.00000000 0.66012668 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 1.78000% 1000.00000000 1.48333333 0.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 2.26000% 1000.00000000 1.88333286 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 2.75328% 1000.00000000 2.29440317 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 2.75328% 1000.00000000 2.29440571 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 2.75328% 1000.00000000 2.29440000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 2.75328% 1000.00000000 2.29440371 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.74841% 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 1.16295648 0.00000000 942.27055906 X-1 0.57378949 0.00000000 828.84789923 X-2 0.47151942 0.00000000 942.27055906 X-B 0.66022588 0.00000000 1000.00000000 B-1 1.48333333 0.00000000 1000.00000000 B-2 1.88333286 0.00000000 1000.00000000 B-3 2.29440317 0.00000000 1000.00000000 B-4 2.29440571 0.00000000 1000.00000000 B-5 2.29440000 0.00000000 1000.00000000 B-6 2.29440371 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 15,358,269.90 Liquidations, Insurance Proceeds, Reserve Funds 18.32 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 12,543.26 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 15,370,831.48 Withdrawals Reimbursement for Servicer Advances 46,695.82 Payment of Service Fee 217,588.17 Payment of Interest and Principal 15,106,547.49 ------------- Total Withdrawals (Pool Distribution Amount) 15,370,831.48 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 212,246.30 Master Servicing Fee 5,341.87 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 217,588.17 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - --------------------- --------- ----------- -------- -------- Class X-1 Sub Account 4,500.00 8.24 8.24 4,500.00 Class X-2 Sub Account 4,500.00 8.24 8.24 4,500.00 Class X-B Sub Account 1,000.00 1.84 1.84 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 15 4,616,302.37 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 506,400.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 1 748,000.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 ------------------------ ------------------- ------------------- 16 5,122,702.37 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.778816% 0.698166% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.051921% 0.076588% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.051020% 0.110854% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------------------- -------------------- ------------------- 0.830737% 0.774753% 0.000000% 0.000000% 0.000000% 0.000000% REO TOTAL - ------------------------------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 15 4,616,302.37 60 Days 0 0.00 60 Days 1 506,400.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 1 748,000.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --------------- ---------------------- 0 0.00 16 5,122,702.37 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.778816% 0.698166% 60 Days 0.000000% 0.000000% 60 Days 0.051921% 0.076588% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.051020% 0.110854% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% ------------------- ------------------- 0.000000% 0.000000% 0.830737% 0.774753%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 12,543.26
Original $ Original % Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 28,000,069.00 4.00002032% 28,000,069.00 4.23470956% 95.765290% 0.000000% Class X-1 28,000,069.00 4.00002032% 28,000,069.00 4.23470956% 0.000000% 0.000000% Class X-2 28,000,069.00 4.00002032% 28,000,069.00 4.23470956% 0.000000% 0.000000% Class B-1 16,450,069.00 2.35001600% 16,450,069.00 2.48789617% 1.746813% 41.249898% Class B-2 9,450,069.00 1.35001339% 9,450,069.00 1.42922139% 1.058675% 24.999938% Class B-3 6,300,069.00 0.90001221% 6,300,069.00 0.95281774% 0.476404% 11.249972% Class B-4 4,550,069.00 0.65001156% 4,550,069.00 0.68814904% 0.264669% 6.249985% Class B-5 3,150,069.00 0.45001103% 3,150,069.00 0.47641409% 0.211735% 4.999988% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.476414% 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 3.140201% Weighted Average Net Coupon 2.762741% Weighted Average Pass-Through Rate 2.753241% Weighted Average Maturity (Stepdown Calculation) 340 Beginning Scheduled Collateral Loan Count 1,960 Number of Loans Paid in Full 34 Ending Scheduled Collateral Loan Count 1,926 Beginning Scheduled Collateral Balance 674,762,352.50 Ending Scheduled Collateral Balance 661,204,000.22 Ending Actual Collateral Balance at 30-June-2004 661,204,180.48 Monthly P&I Constant 1,765,741.00 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 15,054,531.06 Ending Scheduled Balance for Premium Loans 661,204,000.22 Scheduled Principal 0.00 Unscheduled Principal 13,558,352.28
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 74,247,925.03 Six-Month Libor Loan Balance 586,956,075.19 Prorata Senior Percentage 95.850381% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%