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

Contract Categories: Business Operations › Administration 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 April 30, 2004, with distributions made on May 20, 2004. It details the amounts paid, outstanding balances, and realized losses for each certificate class, in accordance with the Pooling and Servicing Agreement. No realized losses or interest shortfalls are reported for this period. The report is intended for certificateholders and provides transparency on the trust's financial distributions.

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EX-10.1 2 f99536iexv10w1.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 2004-2 RECORD DATE: APRIL 30, 2004 DISTRIBUTION DATE: MAY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Class CUSIP Description Through Rate Balance Distribution Distribution - ---------------------------------------------------------------------------------------------- A 81744FAN7 SEN 1.45000% 663,746,300.67 802,026.78 9,499,093.62 X-1 81744FAP2 IO 0.80000% 0.00 415,668.00 0.00 X-2 81744FAQ0 IO 0.55641% 0.00 307,763.34 0.00 X-B 81744FAR8 IO 0.97677% 0.00 15,099.29 0.00 B-1 81744FAT4 SUB 1.60000% 11,550,000.00 15,400.00 0.00 B-2 81744FAU1 SUB 2.08000% 7,000,000.00 12,133.33 0.00 B-3 81744FAV9 SUB 2.75791% 3,150,000.00 7,239.50 0.00 B-4 81744FAW7 SUB 2.75791% 1,750,000.00 4,021.95 0.00 B-5 81744FAX5 SUB 2.75791% 1,400,000.00 3,217.56 0.00 B-6 81744FAY6 SUB 2.75791% 3,150,069.00 7,239.66 0.00 A-R 81744FAS6 RES 2.74914% 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------------- Totals 691,746,369.67 1,589,809.41 9,499,093.62 - ---------------------------------------------------------------------------------------------- Certificate Class Current Ending Certificate Total Cumulative Class CUSIP Description Realized Loss Balance Distribution Realized Loss - ------------------------------------------------------------------------------------------------ A 81744FAN7 SEN 0.00 654,247,207.05 10,301,120.40 0.00 X-1 81744FAP2 IO 0.00 0.00 415,668.00 0.00 X-2 81744FAQ0 IO 0.00 0.00 307,763.34 0.00 X-B 81744FAR8 IO 0.00 0.00 15,099.29 0.00 B-1 81744FAT4 SUB 0.00 11,550,000.00 15,400.00 0.00 B-2 81744FAU1 SUB 0.00 7,000,000.00 12,133.33 0.00 B-3 81744FAV9 SUB 0.00 3,150,000.00 7,239.50 0.00 B-4 81744FAW7 SUB 0.00 1,750,000.00 4,021.95 0.00 B-5 81744FAX5 SUB 0.00 1,400,000.00 3,217.56 0.00 B-6 81744FAY6 SUB 0.00 3,150,069.00 7,239.66 0.00 A-R 81744FAS6 RES 0.00 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------- Totals 0.00 682,247,276.05 11,088,903.03 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 671,998,000.00 663,746,300.67 0.00 9,499,093.62 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 100.00 100.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------- Totals 699,998,169.00 691,746,369.67 0.00 9,499,093.62 0.00 - ---------------------------------------------------------------------------- Realized Total Principal Ending Certificate Ending Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ------------------------------------------------------------------------------------------- A 0.00 9,499,093.62 654,247,207.05 0.97358505 9,499,093.62 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 9,499,093.62 682,247,276.05 0.97464152 9,499,093.62 - -----------------------------------------------------------------------------------------
(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 Class Amount Balance Distribution Distribution Accretion - ---------------------------------------------------------------------------- A 671,998,000.00 987.72064898 0.00000000 14.13559805 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 - ----------------------------------------------------------------------------- Realized Total Principal Ending Certificate Ending Certificate Total Principal Class Loss (3) Reduction Balance Percentage Distribution - -------------------------------------------------------------------------------------------- A 0.00000000 14.13559805 973.58505092 0.97358505 14.13559805 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 A-R 0.00000000 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 Certificate/ Current Unpaid Original Face Current Notional Accrued Interest Class Amount Certificate Rate Balance Interest Shortfall - ---------------------------------------------------------------------------------- A 671,998,000.00 1.45000% 663,746,300.67 802,026.78 0.00 X-1 0.00 0.80000% 623,501,996.31 415,668.00 0.00 X-2 0.00 0.55641% 663,746,300.67 307,763.34 0.00 X-B 0.00 0.97677% 18,550,000.00 15,099.29 0.00 B-1 11,550,000.00 1.60000% 11,550,000.00 15,400.00 0.00 B-2 7,000,000.00 2.08000% 7,000,000.00 12,133.33 0.00 B-3 3,150,000.00 2.75791% 3,150,000.00 7,239.50 0.00 B-4 1,750,000.00 2.75791% 1,750,000.00 4,021.95 0.00 B-5 1,400,000.00 2.75791% 1,400,000.00 3,217.56 0.00 B-6 3,150,069.00 2.75791% 3,150,069.00 7,239.66 0.00 A-R 100.00 2.74914% 0.00 0.00 0.00 - -------------------------------------------------------------------------------- Totals 699,998,169.00 1,589,809.41 0.00 - -------------------------------------------------------------------------------- Non- Remaining Ending Current Supported Unpaid Certificate/ Interest Interest Realized Total Interest Interest Notational Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance - ---------------------------------------------------------------------------------- A 0.00 0.00 0.00 802,026.78 0.00 654,247,207.05 X-1 0.00 0.00 0.00 415,668.00 0.00 600,528,818.95 X-2 0.00 0.00 0.00 307,763.34 0.00 654,247,207.05 X-B 0.00 0.00 0.00 15,099.29 0.00 18,550,000.00 B-1 0.00 0.00 0.00 15,400.00 0.00 11,550,000.00 B-2 0.00 0.00 0.00 12,133.33 0.00 7,000,000.00 B-3 0.00 0.00 0.00 7,239.50 0.00 3,150,000.00 B-4 0.00 0.00 0.00 4,021.95 0.00 1,750,000.00 B-5 0.00 0.00 0.00 3,217.56 0.00 1,400,000.00 B-6 0.00 0.00 0.00 7,239.66 0.00 3,150,069.00 A-R 0.00 0.00 0.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------- Totals 0.00 0.00 0.00 1,589,809.41 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 Unpaid Original Face Certificate Certificate/ Current Accrued Interest Class (5) Amount Rate Notional Balance Interest Shortfall - --------------------------------------------------------------------------------------- A 671,998,000.00 1.45000% 987.72064898 1.19349578 0.00000000 X-1 0.00 0.80000% 927.83311306 0.61855541 0.00000000 X-2 0.00 0.55641% 987.72064898 0.45798252 0.00000000 X-B 0.00 0.97677% 1000.00000000 0.81397790 0.00000000 B-1 11,550,000.00 1.60000% 1000.00000000 1.33333333 0.00000000 B-2 7,000,000.00 2.08000% 1000.00000000 1.73333286 0.00000000 B-3 3,150,000.00 2.75791% 1000.00000000 2.29825397 0.00000000 B-4 1,750,000.00 2.75791% 1000.00000000 2.29825714 0.00000000 B-5 1,400,000.00 2.75791% 1000.00000000 2.29825714 0.00000000 B-6 3,150,069.00 2.75791% 1000.00000000 2.29825442 0.00000000 A-R 100.00 2.74914% 0.00000000 0.00000000 0.00000000 - --------------------------------------------------------------------------------------- Non- Remaining Current Supported Unpaid Interest Interest Realized Total Interest Interest Ending Certificate/ Class (5) Shortfall Shortfall Loss (6) Distribution Shortfall Notational Balance - ----------------------------------------------------------------------------------------------- A 0.00000000 0.00000000 0.00000000 1.19349578 0.00000000 973.58505092 X-1 0.00000000 0.00000000 0.00000000 0.61855541 0.00000000 893.64673548 X-2 0.00000000 0.00000000 0.00000000 0.45798252 0.00000000 973.58505092 X-B 0.00000000 0.00000000 0.00000000 0.81397790 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 0.00000000 1.33333333 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 0.00000000 1.73333286 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 0.00000000 2.29825397 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 0.00000000 2.29825714 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 0.00000000 2.29825714 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 0.00000000 2.29825442 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 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 11,323,045.43 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2,633.61 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 11,325,679.04 Withdrawals Reimbursement for Servicer Advances 13,745.51 Payment of Service Fee 223,030.50 Payment of Interest and Principal 11,088,903.03 ------------- Total Withdrawals (Pool Distribution Amount) 11,325,679.04 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 217,554.17 Master Servicing Fee 5,476.33 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 223,030.50 ==========
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 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 4 1,118,189.20 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 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 ----------------------- ------------------- ------------------- 4 1,118,189.20 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 0.202020% 0.163898% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 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% ----------------------- ------------------- ------------------- 0.202020% 0.163898% 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 4 1,118,189.20 60 Days 0 0.00 60 Days 0 0.00 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 4 1,118,189.20 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 0.202020% 0.163898% 60 Days 0.000000% 0.000000% 60 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% 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% 0.202020% 0.163898%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 2,633.61
Original $ Original% Current $ Current % Current Class % Prepayment % -------------- ----------- ------------- ----------- --------------- ------------ Class A 28,000,069.00 4.00002032% 28,000,069.00 4.10409392% 95.895906% 0.000000% Class X-1 28,000,069.00 4.00002032% 28,000,069.00 4.10409392% 0.000000% 0.000000% Class X-2 28,000,069.00 4.00002032% 28,000,069.00 4.10409392% 0.000000% 0.000000% Class B-1 16,450,069.00 2.35001600% 16,450,069.00 2.41115935% 1.692935% 41.249898% Class B-2 9,450,069.00 1.35001339% 9,450,069.00 1.38513840% 1.026021% 24.999938% Class B-3 6,300,069.00 0.90001221% 6,300,069.00 0.92342897% 0.461709% 11.249972% Class B-4 4,550,069.00 0.65001156% 4,550,069.00 0.66692373% 0.256505% 6.249985% Class B-5 3,150,069.00 0.45001103% 3,150,069.00 0.46171954% 0.205204% 4.999988% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.461720% 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 3.139516% Weighted Average Net Coupon 2.762116% Weighted Average Pass-Through Rate 2.752616% Weighted Average Maturity (Stepdown Calculation) 342 Beginning Scheduled Collateral Loan Count 2,000 Number of Loans Paid in Full 20 Ending Scheduled Collateral Loan Count 1,980 Beginning Scheduled Collateral Balance 691,746,369.74 Ending Scheduled Collateral Balance 682,247,276.12 Ending Actual Collateral Balance at 30-Apr-2004 682,247,612.21 Monthly P&I Constant 1,809,790.80 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 11,039,651.03 Ending Scheduled Balance for Premium Loans 682,247,276.12 Scheduled Principal 0.00 Unscheduled Principal 9,499,093.62
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 77,309,645.65 Six-Month Libor Loan Balance 604,937,630.47 Prorata Senior Percentage 95.952264% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%