Certificateholder Distribution Summary for SMT Series 2004-3 (April 30, 2004 Record Date)

Summary

This document is a distribution summary prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2004-3 trust. It details the principal and interest payments made to certificateholders as of the April 30, 2004 record date, with distributions occurring on May 20, 2004. The summary includes payment amounts, outstanding balances, and loss information for each class of certificates. All calculations are made in accordance with the Pooling and Servicing Agreement governing the trust.

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EX-10.1 2 f99536hexv10w1.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: APRIL 30, 2004 DISTRIBUTION DATE: MAY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass- Certificate Interest Principal Class CUSIP Description Through Rate Balance Distribution Distribution - ---------------------------------------------------------------------------------------- A 81744FAZ0 SEN 1.40000% 887,322,190.72 1,035,209.23 9,977,299.12 M-1 81744FBA4 SUB 1.60000% 13,800,000.00 18,400.00 0.00 M-2 81744FBB2 SUB 2.00000% 9,200,000.00 15,333.33 0.00 M-3 81744FBC0 SUB 2.76554% 2,300,000.00 5,300.61 0.00 X 81744FBD8 IO 0.00000% 0.00 0.00 0.00 R 81744FBE6 RES 0.00000% 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------- Totals 912,622,190.72 1,074,243.17 9,977,299.12 - ---------------------------------------------------------------------------------------- Certificate Current Ending Class Realized Certificate Total Cumulative Class CUSIP Description Loss Balance Distribution Realized Loss - --------------------------------------------------------------------------------------- A 81744FAZ0 SEN 0.00 877,344,891.60 11,012,508.35 0.00 M-1 81744FBA4 SUB 0.00 13,800,000.00 18,400.00 0.00 M-2 81744FBB2 SUB 0.00 9,200,000.00 15,333.33 0.00 M-3 81744FBC0 SUB 0.00 2,300,000.00 5,300.61 0.00 X 81744FBD8 IO 0.00 0.00 0.00 0.00 R 81744FBE6 RES 0.00 0.00 0.00 0.00 - ----------------------------------------------------------------------------------- Totals 0.00 902,644,891.60 11,051,542.29 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 894,673,000.00 887,322,190.72 0.00 9,977,299.12 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 919,973,000.00 912,622,190.72 0.00 9,977,299.12 0.00 0.00 - ------------------------------------------------------------------------------------- Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ------------------------------------------------------------------- A 9,977,299.12 877,344,891.60 0.98063191 9,977,299.12 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 9,977,299.12 902,644,891.60 0.98116455 9,977,299.12 - ------------------------------------------------------------------
(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 894,673,000.00 991.78380338 0.00000000 11.15189474 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 11.15189474 980.63190864 0.98063191 11.15189474 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- 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 894,673,000.00 1.40000% 887,322,190.72 1,035,209.22 0.00 0.00 0.00 0.00 M-1 13,800,000.00 1.60000% 13,800,000.00 18,400.00 0.00 0.00 0.00 0.00 M-2 9,200,000.00 2.00000% 9,200,000.00 15,333.33 0.00 0.00 0.00 0.00 M-3 2,300,000.00 2.76554% 2,300,000.00 5,300.61 0.00 0.00 0.00 0.00 X 0.00 0.00000% 914,020,064.45 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 1,074,243.16 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------ Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - --------------------------------------------------- A 1,035,209.23 0.00 877,344,891.60 M-1 18,400.00 0.00 13,800,000.00 M-2 15,333.33 0.00 9,200,000.00 M-3 5,300.61 0.00 2,300,000.00 X 0.00 0.00 905,074,986.39 R 0.00 0.00 0.00 - -------------------------------------------------- Totals 1,074,243.17 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
Beginning Payment of Non- Current Certificate Current Unpaid Current Supported Class Original Face Certificate Notional Accrued Interest Interest Interest Realized (5) Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (6) - ------------------------------------------------------------------------------------------------------------- A 894,673,000.00 1.40000% 991.78380338 1.15708110 0.00000000 0.00000000 0.00000000 0.00000000 M-1 13,800,000.00 1.60000% 1000.00000000 1.33333333 0.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 2.00000% 1000.00000000 1.66666630 0.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 2.76554% 1000.00000000 2.30461304 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 993.52858644 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 Total Unpaid Certificate/ Class Interest Interest Notational (5) Distribution Shortfall Balance - ---------------------------------------------- A 1.15708111 0.00000000 980.63190864 M-1 1.33333333 0.00000000 1000.00000000 M-2 1.66666630 0.00000000 1000.00000000 M-3 2.30461304 0.00000000 1000.00000000 X 0.00000000 0.00000000 983.80539643 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 11,325,830.31 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 21,522.29 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 11,347,352.60 Withdrawals Reimbursement for Servicer Advances 5,036.70 Payment of Service Fee 290,773.61 Payment of Interest and Principal 11,051,542.29 ------------- Total Withdrawals (Pool Distribution Amount) 11,347,352.60 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 285,822.66 Master Servicing Fee 4,950.95 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 290,773.61 ==========
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 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 24 8,783,336.27 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 332,000.00 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 0 0.00 120 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 -- ------------ --- ---- --- ---- 25 9,115,336.27 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 0.867365% 0.970451% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.036140% 0.036682% 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 0.000000% 0.000000% 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% -------- -------- -------- -------- -------- -------- 0.903506% 1.007133% 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 24 8,783,336.27 60 Days 0 0.00 60 Days 1 332,000.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 0 0.00 25 9,115,336.27 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 0.867365% 0.970451% 60 Days 0.000000% 0.000000% 60 Days 0.036140% 0.036682% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 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% -------- -------- -------- -------- 0.000000% 0.000000% 0.903506% 1.007133%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 21,522.29
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.147251% Weighted Average Net Coupon 2.772000% Weighted Average Pass-Through Rate 2.765500% Weighted Average Maturity (Stepdown Calculation) 344 Beginning Scheduled Collateral Loan Count 2,784 Number of Loans Paid in Full 17 Ending Scheduled Collateral Loan Count 2,767 Beginning Scheduled Collateral Balance 914,020,064.45 Ending Scheduled Collateral Balance 905,074,986.39 Ending Actual Collateral Balance at 30-Apr-2004 905,077,661.68 Monthly P&I Constant 2,397,208.67 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 905,074,986.39 Scheduled Principal 0.00 Unscheduled Principal 8,945,078.06 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 1,032,221.06 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 4,599,867.97 Overcollateralization Amount 2,430,094.78 Overcollateralized Deficiency Amount 3,201,994.24 Base Overcollateralization Amount 0.00 Extra Principal Distribution Amount 1,032,221.06 Excess Cash Amount 1,032,221.06
MISCELLANEOUS REPORTING Applied Loss Amount 0.00 1 Month LIBOR Loan Balance 88,102,800.62 6 Month LIBOR Loan Balance 816,972,185.77 M-1 Target Amount 873,397,361.87 M-2 Target Amount 891,498,861.59 M-3 Target Amount 896,024,236.53 Senior Target Amount 846,245,112.27 Step Down Date Reached? No Trigger Event? No