SMT Series 2004-3 Certificateholder Distribution Summary by Wells Fargo Bank Minnesota, N.A.
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Summary
This document is a distribution summary for certificateholders of the SMT Series 2004-3, administered by Wells Fargo Bank Minnesota, N.A. It details the interest and principal payments, account balances, servicing fees, and loan status as of March 31, 2004, with distributions made on April 20, 2004. The summary outlines the amounts distributed to each class of certificates, any realized losses, and the status of the underlying loans. It is intended to inform investors of the financial activity and performance of their investment for the specified period.
EX-10.1 2 f98764bexv10w1.htm EXHIBIT 10.1 exv10w1
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) ###-###-#### | |||
| Fax: | (301) ###-###-#### | |||
SMT SERIES 2004-3
Record Date: March 31, 2004
Distribution Date: April 20, 2004
Certificateholder Distribution Summary
| Certificate | Certificate | Beginning | Current | Ending | Cumulative | |||||||||||||||||||||||||||||||||||
| Class | Pass-Through | Certificate | Interest | Principal | Realized | Certificate | Total | Realized | ||||||||||||||||||||||||||||||||
| Class | CUSIP | Description | Rate | Balance | Distribution | Distribution | Loss | Balance | Distribution | Loss | ||||||||||||||||||||||||||||||
A | 81744FAZ0 | SEN | 1.40000 | % | 894,673,000.00 | 695,856.78 | 7,350,809.28 | 0.00 | 887,322,190.72 | 8,046,666.06 | 0.00 | |||||||||||||||||||||||||||||
M-1 | 81744FBA4 | SUB | 1.59000 | % | 13,800,000.00 | 12,190.00 | 0.00 | 0.00 | 13,800,000.00 | 12,190.00 | 0.00 | |||||||||||||||||||||||||||||
M-2 | 81744FBB2 | SUB | 1.99000 | % | 9,200,000.00 | 10,171.11 | 0.00 | 0.00 | 9,200,000.00 | 10,171.11 | 0.00 | |||||||||||||||||||||||||||||
M-3 | 81744FBC0 | SUB | 2.76634 | % | 2,300,000.00 | 5,302.15 | 0.00 | 0.00 | 2,300,000.00 | 5,302.15 | 0.00 | |||||||||||||||||||||||||||||
X | 81744FBD8 | IO | 0.00000 | % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||||||||||
R | 81744FBE6 | RES | 0.00000 | % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||||||||||
Totals | 919,973,000.00 | 723,520.04 | 7,350,809.28 | 0.00 | 912,622,190.72 | 8,074,329.32 | 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
| Original | Beginning | Scheduled | Unscheduled | Total | Ending | Ending | Total | |||||||||||||||||||||||||||||||||
| Face | Certificate | Principal | Principal | Realized | Principal | Certificate | Certificate | Principal | ||||||||||||||||||||||||||||||||
| Class | Amount | Balance | Distribution | Distribution | Accretion | Loss (1) | Reduction | Balance | Percentage | Distribution | ||||||||||||||||||||||||||||||
A | 894,673,000.00 | 894,673,000.00 | 0.00 | 7,350,809.28 | 0.00 | 0.00 | 7,350,809.28 | 887,322,190.72 | 0.99178380 | 7,350,809.28 | ||||||||||||||||||||||||||||||
M-1 | 13,800,000.00 | 13,800,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 13,800,000.00 | 1.00000000 | 0.00 | ||||||||||||||||||||||||||||||
M-2 | 9,200,000.00 | 9,200,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9,200,000.00 | 1.00000000 | 0.00 | ||||||||||||||||||||||||||||||
M-3 | 2,300,000.00 | 2,300,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,300,000.00 | 1.00000000 | 0.00 | ||||||||||||||||||||||||||||||
X | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00000000 | 0.00 | ||||||||||||||||||||||||||||||
R | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00000000 | 0.00 | ||||||||||||||||||||||||||||||
Totals | 919,973,000.00 | 919,973,000.00 | 0.00 | 7,350,809.28 | 0.00 | 0.00 | 7,350,809.28 | 912,622,190.72 | 0.99200976 | 7,350,809.28 | ||||||||||||||||||||||||||||||
| (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
| Original | Beginning | Scheduled | Unscheduled | Total | Ending | Ending | Total | |||||||||||||||||||||||||||||||||
| Face | Certificate | Principal | Principal | Realized | Principal | Certificate | Certificate | Principal | ||||||||||||||||||||||||||||||||
| Class | Amount | Balance | Distribution | Distribution | Accretion | Loss (3) | Reduction | Balance | Percentage | Distribution | ||||||||||||||||||||||||||||||
A | 894,673,000.00 | 1000.00000000 | 0.00000000 | 8.21619662 | 0.00000000 | 0.00000000 | 8.21619662 | 991.78380338 | 0.99178380 | 8.21619662 | ||||||||||||||||||||||||||||||
M-1 | 13,800,000.00 | 1000.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 1000.00000000 | 1.00000000 | 0.00000000 | ||||||||||||||||||||||||||||||
M-2 | 9,200,000.00 | 1000.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 1000.00000000 | 1.00000000 | 0.00000000 | ||||||||||||||||||||||||||||||
M-3 | 2,300,000.00 | 1000.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 1000.00000000 | 1.00000000 | 0.00000000 | ||||||||||||||||||||||||||||||
X | 0.00 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | ||||||||||||||||||||||||||||||
R | 0.00 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 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 | Non- | Remaining | Ending | ||||||||||||||||||||||||||||||||||||||||
| Original | Current | Certificate/ | Current | of Unpaid | Current | Supported | Total | Unpaid | Certificate/ | |||||||||||||||||||||||||||||||||||
| Face | Certificate | Notional | Accrued | Interest | Interest | Interest | Realized | Interest | Interest | Notational | ||||||||||||||||||||||||||||||||||
| Class | Amount | Rate | Balance | Interest | Shortfall | Shortfall | Shortfall | Loss (4) | Distribution | Shortfall | Balance | |||||||||||||||||||||||||||||||||
A | 894,673,000.00 | 1.40000 | % | 894,673,000.00 | 695,856.78 | 0.00 | 0.00 | 0.00 | 0.00 | 695,856.78 | 0.00 | 887,322,190.72 | ||||||||||||||||||||||||||||||||
M-1 | 13,800,000.00 | 1.59000 | % | 13,800,000.00 | 12,190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 12,190.00 | 0.00 | 13,800,000.00 | ||||||||||||||||||||||||||||||||
M-2 | 9,200,000.00 | 1.99000 | % | 9,200,000.00 | 10,171.11 | 0.00 | 0.00 | 0.00 | 0.00 | 10,171.11 | 0.00 | 9,200,000.00 | ||||||||||||||||||||||||||||||||
M-3 | 2,300,000.00 | 2.76634 | % | 2,300,000.00 | 5,302.15 | 0.00 | 0.00 | 0.00 | 0.00 | 5,302.15 | 0.00 | 2,300,000.00 | ||||||||||||||||||||||||||||||||
X | 0.00 | 0.00000 | % | 919,973,594.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 912,622,780.02 | ||||||||||||||||||||||||||||||||
R | 0.00 | 0.00000 | % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||||||||||||||
Totals | 919,973,000.00 | 723,520.04 | 0.00 | 0.00 | 0.00 | 0.00 | 723,520.04 | 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 | Non- | Remaining | Ending | ||||||||||||||||||||||||||||||||||||||||
| Original | Current | Certificate/ | Current | of Unpaid | Current | Supported | Total | Unpaid | Certificate/ | |||||||||||||||||||||||||||||||||||
| Face | Certificate | Notional | Accrued | Interest | Interest | Interest | Realized | Interest | Interest | Notational | ||||||||||||||||||||||||||||||||||
| Class (5) | Amount | Rate | Balance | Interest | Shortfall | Shortfall | Shortfall | Loss (6) | Distribution | Shortfall | Balance | |||||||||||||||||||||||||||||||||
A | 894,673,000.00 | 1.40000 | % | 1000.00000000 | 0.77777778 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.77777778 | 0.00000000 | 991.78380338 | ||||||||||||||||||||||||||||||||
M-1 | 13,800,000.00 | 1.59000 | % | 1000.00000000 | 0.88333333 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.88333333 | 0.00000000 | 1000.00000000 | ||||||||||||||||||||||||||||||||
M-2 | 9,200,000.00 | 1.99000 | % | 1000.00000000 | 1.10555543 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 1.10555543 | 0.00000000 | 1000.00000000 | ||||||||||||||||||||||||||||||||
M-3 | 2,300,000.00 | 2.76634 | % | 1000.00000000 | 2.30528261 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 2.30528261 | 0.00000000 | 1000.00000000 | ||||||||||||||||||||||||||||||||
X | 0.00 | 0.00000 | % | 1000.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 992.00975542 | ||||||||||||||||||||||||||||||||
R | 0.00 | 0.00000 | % | 0.00000000 | 0.00000000 | 0.00000000 | 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 | 8,361,834.86 | |||
Liquidations, Insurance Proceeds, Reserve Funds | 0.00 | |||
Proceeds from Repurchased Loans | 0.00 | |||
Other Amounts (Servicer Advances) | 5,036.70 | |||
Realized Losses (Gains, Subsequent Expenses & Recoveries) | 0.00 | |||
Prepayment Penalties | 0.00 | |||
Total Deposits | 8,366,871.56 | |||
Withdrawals | ||||
Reimbursement for Servicer Advances | 0.00 | |||
Payment of Service Fee | 292,542.23 | |||
Payment of Interest and Principal | 8,074,329.33 | |||
Total Withdrawals (Pool Distribution Amount) | 8,366,871.56 | |||
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 | 287,559.02 | |||
Master Servicing Fee | 4,983.21 | |||
Supported Prepayment/Curtailment Interest Shortfall | 0.00 | |||
Net Servicing Fee | 292,542.23 | |||
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 | BANKRUPTCY | FORECLOSURE | REO | TOTAL | ||||||||||||||||||||||||||||||||||||||||||||
| No. of | Principal | No. of | Principal | No. of | Principal | No. of | Principal | No. of | Principal | |||||||||||||||||||||||||||||||||||||||
| Loans | Balance | Loans | Balance | Loans | Balance | Loans | Balance | Loans | Balance | |||||||||||||||||||||||||||||||||||||||
0-29 Days | 0 | 0.00 | 0-29 Days | 0 | 0.00 | 0-29 Days | 0 | 0.00 | 0-29 Days | 0 | 0.00 | 0-29 Days | 0 | 0.00 | ||||||||||||||||||||||||||||||||||
30 Days | 6 | 2,174,250.00 | 30 Days | 0 | 0.00 | 30 Days | 0 | 0.00 | 30 Days | 0 | 0.00 | 30 Days | 6 | 2,174,250.00 | ||||||||||||||||||||||||||||||||||
60 Days | 0 | 0.00 | 60 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 | 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 | 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 | 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 | 180+ Days | 0 | 0.00 | 180+ Days | 0 | 0.00 | ||||||||||||||||||||||||||||||||||
| 6 | 2,174,250.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 6 | 2,174,250.00 | |||||||||||||||||||||||||||||||||||||||
| No. of | Principal | No. of | Principal | No. of | Principal | No. of | Principal | No. of | Principal | |||||||||||||||||||||||||||||||||||||||
| Loans | Balance | Loans | Balance | 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 | % | 0-29 Days | 0.000000 | % | 0.000000 | % | 0-29 Days | 0.000000 | % | 0.000000 | % | ||||||||||||||||||||||||
30 Days | 0.215517 | % | 0.237878 | % | 30 Days | 0.000000 | % | 0.000000 | % | 30 Days | 0.000000 | % | 0.000000 | % | 30 Days | 0.000000 | % | 0.000000 | % | 30 Days | 0.215517 | % | 0.237878 | % | ||||||||||||||||||||||||
60 Days | 0.000000 | % | 0.000000 | % | 60 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 | % | 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 | % | 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 | % | 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 | % | 180+ Days | 0.000000 | % | 0.000000 | % | 180+ Days | 0.000000 | % | 0.000000 | % | ||||||||||||||||||||||||
| 0.215517 | % | 0.237878 | % | 0.000000 | % | 0.000000 | % | 0.000000 | % | 0.000000 | % | 0.000000 | % | 0.000000 | % | 0.215517 | % | 0.237878 | % | |||||||||||||||||||||||||||||
| Current Period Class A Insufficient Funds: | 0.00 | Principal Balance of Contaminated Properties | 0.00 | Periodic Advance | 5,036.70 | |||||||||||||||||||||||||||||||||||||||||||
Collateral Statement
Collateral Description | Mixed Arm | |||
Weighted Average Gross Coupon | 3.147928 | % | ||
Weighted Average Net Coupon | 2.772840 | % | ||
Weighted Average Pass-Through Rate | 2.766340 | % | ||
Weighted Average Maturity (Stepdown Calculation) | 345 | |||
Beginning Scheduled Collateral Loan Count | 2,794 | |||
Number of Loans Paid in Full | 10 | |||
Ending Scheduled Collateral Loan Count | 2,784 | |||
Beginning Scheduled Collateral Balance | 919,973,000.00 | |||
Ending Scheduled Collateral Balance | 914,020,064.45 | |||
Ending Actual Collateral Balance at 31-Mar-2004 | 914,018,710.63 | |||
Monthly P&I Constant | 2,413,341.94 | |||
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 | 914,020,064.45 | |||
Scheduled Principal | 0.00 | |||
Unscheduled Principal | 5,953,529.59 | |||
Required Overcollateralized Amount | 0.00 | |||
Overcollateralized Increase Amount | 1,397,279.70 | |||
Overcollateralized Reduction Amount | 0.00 | |||
Specified O/C Amount | 4,599,867.97 | |||
Overcollateralization Amount | 1,397,873.73 | |||
Overcollateralized Deficiency Amount | 4,599,273.93 | |||
Base Overcollateralization Amount | 0.00 | |||
Extra Principal Distribution Amount | 1,397,279.70 | |||
Excess Cash Amount | 1,397,279.70 | |||
Miscellaneous Reporting
Applied Loss Amount | 0.00 | |||
1 Month LIBOR Loan Balance | 88,561,569.21 | |||
6 Month LIBOR Loan Balance | 825,458,495.24 | |||
M-1 Target Amount | 882,029,362.19 | |||
M-2 Target Amount | 900,309,763.48 | |||
M-3 Target Amount | 904,879,863.81 | |||
Senior Target Amount | 854,608,760.26 | |||
Step Down Date Reached? | No | |||
Trigger Event? | No | |||
