Wells Fargo Bank Minnesota, N.A. SMT Series 2003-8 Certificateholder Distribution Statement (March 2004)

Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2003-8 trust. It summarizes the principal and interest payments made to certificateholders as of the March 22, 2004 distribution date, including details on each class of certificates, payment rates, balances, and realized losses. The statement is prepared in accordance with the Pooling and Servicing Agreement and is intended for investors and stakeholders in the trust.

EX-10.1 3 f97888mexv10w1.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 2003-8 RECORD DATE: FEBRUARY 27, 2004 DISTRIBUTION DATE: MARCH 22, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY

All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT

(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

(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

(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

(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 8,555,213.60 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 9,926.97 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 8,565,140.57 Withdrawals Reimbursement for Servicer Advances 6,596.68 Payment of Service Fee 308,791.24 Payment of Interest and Principal 8,249,752.65 ------------ Total Withdrawals (Pool Distribution Amount) 8,565,140.57 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 304,358.41 Master Servicing Fee 4,432.83 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 308,791.24 ==========~~

OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ --------- ----------- -------- ------- Class 1-A Companion Sub Account 4,000.00 0.00 0.00 4,000.00 Class 1-A NAS Sub Account 1,000.00 0.00 0.00 1,000.00 Class 2-A Companion Sub Account 2,000.00 0.00 0.00 2,000.00 Class 2-A NAS Sub Account 500.00 0.00 0.00 500.00 Class X-B Sub Account 2,000.00 0.00 0.00 2,000.00
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 13 3,975,041.11 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 692,000.00 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 -- ------------ -- ---- -- ---- 15 4,667,041.11 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 0.467458% 0.413647% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.071917% 0.072010% 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% -------- -------- -------- -------- -------- -------- 0.539374% 0.485658% 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 13 3,975,041.11 60 Days 0 0.00 60 Days 2 692,000.00 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 15 4,667,041.11 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 0.467458% 0.413647% 60 Days 0.000000% 0.000000% 60 Days 0.071917% 0.072010% 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% 0.539374% 0.485658%
~~Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9,926.97~~

SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Original $ Original% Current $ Current % Current Class % Prepayment % ---------- --------- --------- --------- --------------- ------------ Class A 35,170,267.00 3.60004973% 35,170,267.00 3.65986421% 96.340136% 0.000000% Class X-1 35,170,267.00 3.60004973% 35,170,267.00 3.65986421% 0.000000% 0.000000% Class X-2 35,170,267.00 3.60004973% 35,170,267.00 3.65986421% 0.000000% 0.000000% Class B-1 21,004,267.00 2.15000943% 21,004,267.00 2.18573163% 1.474133% 40.278341% Class B-2 12,700,267.00 1.30000698% 12,700,267.00 1.32160648% 0.864125% 23.610853% Class B-3 7,816,267.00 0.80007780% 7,816,267.00 0.81337102% 0.508235% 13.886730% Class B-4 5,373,267.00 0.55001085% 5,373,267.00 0.55914923% 0.254222% 6.946208% Class B-5 3,908,267.00 0.40005257% 3,908,267.00 0.40669940% 0.152450% 4.165450% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.406699% 11.112418%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------------- --------------------------------- --------------------------------- POOL 1 -- 1 MO LIBOR 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 0 0.00 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 -- ---- -- ---- -- ---- 0 0.00 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 0.000000% 0.000000% 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% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 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 0 0.00 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 0 0.00 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 0.000000% 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% 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% 0.000000% 0.000000%

DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------------- --------------------------------- --------------------------------- POOL 1 -- 6 MO LIBOR 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 10 3,180,041.14 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 592,000.00 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 -- ------------ -- ---- -- ---- 11 3,772,041.14 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 0.483559% 0.461639% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.048356% 0.085939% 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% -------- -------- -------- -------- -------- -------- 0.531915% 0.547579% 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 10 3,180,041.14 60 Days 0 0.00 60 Days 1 592,000.00 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 11 3,772,041.14 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 0.483559% 0.461639% 60 Days 0.000000% 0.000000% 60 Days 0.048356% 0.085939% 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% 0.531915% 0.547579%

DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------------- --------------------------------- --------------------------------- POOL 2 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 3 794,999.97 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 100,000.00 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 -- ---------- -- ---- -- ---- 4 894,999.97 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 0.634249% 0.516554% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.211416% 0.064975% 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% -------- -------- -------- -------- -------- -------- 0.845666% 0.581530% 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 3 794,999.97 60 Days 0 0.00 60 Days 1 100,000.00 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 4 894,999.97 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 0.634249% 0.516554% 60 Days 0.000000% 0.000000% 60 Days 0.211416% 0.064975% 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% 0.845666% 0.581530%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 2.937821% Weighted Average Net Coupon 2.560191% Weighted Average Pass-Through Rate 2.554691% Weighted Average Maturity (Stepdown Calculation) 320 Beginning Scheduled Collateral Loan Count 2,792 Number of Loans Paid in Full 11 Ending Scheduled Collateral Loan Count 2,781 Beginning Scheduled Collateral Balance 967,162,662.57 Ending Scheduled Collateral Balance 960,971,911.06 Ending Actual Collateral Balance at 27-Feb-2004 960,973,283.88 Monthly P&I Constant 2,367,792.38 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 8,174,878.38 Ending Scheduled Balance for Premium Loans 960,971,911.06 Scheduled Principal 0.00 Unscheduled Principal 6,190,751.51

GROUP POOL 1 -- 1 MO LIBOR POOL 1 -- 6 MO LIBOR POOL 2 TOTAL Collateral Description 1 Month LIBOR ARM 6 Month LIBOR ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 2.790200 2.965727 2.925560 2.937821 Weighted Average Net Rate 2.399750 2.590047 2.548995 2.560191 Pass-Through Rate 2.394250 2.584547 2.543495 2.554691 Weighted Average Maturity 305 322 321 320 Record Date 02/27/2004 02/27/2004 02/27/2004 02/27/2004 Principal and Interest Constant 275,582.83 1,716,774.68 375,434.87 2,367,792.38 Beginning Loan Count 241 2,078 473 2,792 Loans Paid in Full 1 10 0 11 Ending Loan Count 240 2,068 473 2,781 Beginning Scheduled Balance 118,521,767.85 694,645,815.26 153,995,079.46 967,162,662.57 Ending Scheduled Balance 118,210,341.93 688,857,152.05 153,904,417.08 960,971,911.06 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 311,425.92 5,788,663.21 90,662.38 6,190,751.51 Scheduled Interest 275,582.83 1,716,774.68 375,434.87 2,367,792.38 Servicing Fee 38,564.00 217,470.12 48,324.29 304,358.41 Master Servicing Fee 543.22 3,183.80 705.81 4,432.83 Trustee Fee 0.00 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 0.00 Net Interest 236,475.61 1,496,120.76 326,404.77 2,059,001.14 Realized Loss Amount 0.00 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 0.00

MISCELLANEOUS REPORTING Group Pool 1 -- 1 Mo LIBOR Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Prorata Senior Percent 96.363897% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Group Pool 1 -- 6Mo LIBOR Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Prorata Senior Percent 96.361792% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%