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

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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 March 31, 2005, with distributions occurring on April 20, 2005. The statement details the amounts distributed to each class of certificateholders, the remaining balances, and confirms that all calculations were made in accordance with the Pooling and Servicing Agreement. No realized losses or interest shortfalls are reported for this period.

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EX-10.1 2 f08872fexv10w1.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: MARCH 31, 2005 DISTRIBUTION DATE: APRIL 20, 2005 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-1 81743PDX1 SEN 3.17000% 619,537,880.74 1,636,612.57 17,497,500.63 0.00 602,040,380.11 19,134,113.20 0.00 X-1 81743PDZ6 IO 0.43090% 0.00 266,586.23 0.00 0.00 0.00 266,586.23 0.00 A-2 81743PDY9 SEN 3.06000% 122,541,592.64 312,481.06 9,197,856.81 0.00 113,343,735.83 9,510,337.87 0.00 X-2 81743PEA0 IO 0.12043% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 81743PED4 SUB 3.44000% 14,166,000.00 40,609.20 0.00 0.00 14,166,000.00 40,609.20 0.00 X-B 81743PEB8 IO 0.09040% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-2 81743PEE2 SUB 4.10000% 8,304,000.00 28,372.00 0.00 0.00 8,304,000.00 28,372.00 0.00 B-3 81743PEF9 SUB 3.58338% 4,884,000.00 14,584.37 0.00 0.00 4,884,000.00 14,584.37 0.00 B-4 81743PEG7 SUB 3.58338% 2,443,000.00 7,295.17 0.00 0.00 2,443,000.00 7,295.17 0.00 B-5 81743PEH5 SUB 3.58338% 1,465,000.00 4,374.71 0.00 0.00 1,465,000.00 4,374.71 0.00 B-6 81743PEJ1 SUB 3.58338% 3,908,267.00 11,670.68 0.00 0.00 3,908,267.00 11,670.68 0.00 A-R 81743PEC6 RES 2.55825% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ------------- ---- -------------- ------------- ---- Totals 777,249,740.38 2,322,585.99 26,695,357.44 0.00 750,554,382.94 29,017,943.43 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 Total Principal Ending Certificate Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance - ------ -------------- -------------- ------------ ------------- --------- -------- --------------- ------------------ A-1 791,768,000.00 619,537,880.74 0.00 17,497,500.63 0.00 0.00 17,497,500.63 602,040,380.11 X-1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 A-2 150,000,000.00 122,541,592.64 0.00 9,197,856.81 0.00 0.00 9,197,856.81 113,343,735.83 X-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 14,166,000.00 14,166,000.00 0.00 0.00 0.00 0.00 0.00 14,166,000.00 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-2 8,304,000.00 8,304,000.00 0.00 0.00 0.00 0.00 0.00 8,304,000.00 B-3 4,884,000.00 4,884,000.00 0.00 0.00 0.00 0.00 0.00 4,884,000.00 B-4 2,443,000.00 2,443,000.00 0.00 0.00 0.00 0.00 0.00 2,443,000.00 B-5 1,465,000.00 1,465,000.00 0.00 0.00 0.00 0.00 0.00 1,465,000.00 B-6 3,908,267.00 3,908,267.00 0.00 0.00 0.00 0.00 0.00 3,908,267.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- ------------- -------------- Totals 976,938,367.00 777,249,740.38 0.00 26,695,357.44 0.00 0.00 26,695,357.44 750,554,382.94 -------------- -------------- ---- ------------- ---- ---- ------------- -------------- Ending Certificate Total Principal Class Percentage Distribution - ------ ------------------ --------------- A-1 0.76037473 17,497,500.63 X-1 0.00000000 0.00 A-2 0.75562491 9,197,856.81 X-2 0.00000000 0.00 B-1 1.00000000 0.00 X-B 0.00000000 0.00 B-2 1.00000000 0.00 B-3 1.00000000 0.00 B-4 1.00000000 0.00 B-5 1.00000000 0.00 B-6 1.00000000 0.00 A-R 0.00000000 0.00 ---------- ------------- Totals 0.76827199 26,695,357.44 ---------- -------------
(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 Total Principal Ending Certificate Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance - ------ -------------- ------------- ------------ ------------ ---------- ---------- --------------- ------------------ A-1 791,768,000.00 782.47400847 0.00000000 22.09927735 0.00000000 0.00000000 22.09927735 760.37473112 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 150,000,000.00 816.94395093 0.00000000 61.31904540 0.00000000 0.00000000 61.31904540 755.62490553 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,166,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,304,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-3 4,884,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-4 2,443,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-5 1,465,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-6 3,908,267.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Certificate Total Principal Class Percentage Distribution - ------ ------------------ --------------- A-1 0.76037473 22.09927735 X-1 0.00000000 0.00000000 A-2 0.75562491 61.31904540 X-2 0.00000000 0.00000000 B-1 1.00000000 0.00000000 X-B 0.00000000 0.00000000 B-2 1.00000000 0.00000000 B-3 1.00000000 0.00000000 B-4 1.00000000 0.00000000 B-5 1.00000000 0.00000000 B-6 1.00000000 0.00000000 A-R 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 Current Certificate Certificate/ Current Accrued Unpaid Interest Current Interest Class Original Face Amount Rate Notional Balance Interest Shortfall Shortfall - ------ -------------------- ------------------- ---------------- --------------- --------------- ---------------- A-1 791,768,000.00 3.17000% 619,537,880.74 1,636,612.57 0.00 0.00 X-1 0.00 0.43090% 535,005,639.04 192,114.04 0.00 0.00 A-2 150,000,000.00 3.06000% 122,541,592.64 312,481.06 0.00 0.00 X-2 0.00 0.12043% 742,079,473.38 74,472.19 0.00 0.00 B-1 14,166,000.00 3.44000% 14,166,000.00 40,609.20 0.00 0.00 X-B 0.00 0.09040% 22,470,000.00 1,692.64 0.00 0.00 B-2 8,304,000.00 4.10000% 8,304,000.00 28,372.00 0.00 0.00 B-3 4,884,000.00 3.58338% 4,884,000.00 14,584.37 0.00 0.00 B-4 2,443,000.00 3.58338% 2,443,000.00 7,295.17 0.00 0.00 B-5 1,465,000.00 3.58338% 1,465,000.00 4,374.71 0.00 0.00 B-6 3,908,267.00 3.58338% 3,908,267.00 11,670.68 0.00 0.00 A-R 100.00 2.55825% 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- Totals 976,938,367.00 2,324,278.63 0.00 0.00 -------------- ------------ ---- ---- Non-Supported Interest Realized Total Interest Remaining Unpaid Ending Certificate/ Class Shortfall Loss (4) Distribution Interest Shortfall Notational Balance - ------ ------------- -------- -------------- ------------------ ------------------- A-1 0.00 0.00 1.636,612.57 0.00 602,040,380.11 X-1 0.00 0.00 266,586.23 0.00 514,900,173.64 A-2 0.00 0.00 312,481.06 0.00 113,343,735.83 X-2 0.00 0.00 0.00 0.00 715,384,115.94 B-1 0.00 0.00 40,609.20 0.00 14,166,000.00 X-B 0.00 0.00 0.00 0.00 22,470,000.00 B-2 0.00 0.00 28,372.00 0.00 8,304,000.00 B-3 0.00 0.00 14,584.37 0.00 4,884,000.00 B-4 0.00 0.00 7,295.17 0.00 2,443,000.00 B-5 0.00 0.00 4,374.71 0.00 1,465,000.00 B-6 0.00 0.00 11,670.68 0.00 3,908,267.00 A-R 0.00 0.00 0.00 0.00 0.00 ---- ---- ------------ ---- Totals 0.00 0.00 2,322,585.99 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 Current Certificate Certificate/ Current Accrued Unpaid Interest Current Interest Class(5) Original Face Amount Rate Notional Balance Interest Shortfall Shortfall - -------- -------------------- ------------------- ---------------- --------------- --------------- ---------------- A-1 791,768,000.00 3.17000% 782.47400847 2.06703551 0.00000000 0.00000000 X-1 0.00 0.43090% 568.08644915 0.20399296 0.00000000 0.00000000 A-2 150,000,000.00 3.06000% 816.94395093 2.08320707 0.00000000 0.00000000 X-2 0.00 0.12043% 787.96420496 0.07907700 0.00000000 0.00000000 B-1 14,166,000.00 3.44000% 1000.00000000 2.86666667 0.00000000 0.00000000 X-B 0.00 0.09040% 1000.00000000 0.07532888 0.00000000 0.00000000 B-2 8,304,000.00 4.10000% 1000.00000000 3.41666667 0.00000000 0.00000000 B-3 4,884,000.00 3.58338% 1000.00000000 2.98615274 0.00000000 0.00000000 B-4 2,443,000.00 3.58338% 1000.00000000 2.98615227 0.00000000 0.00000000 B-5 1,465,000.00 3.58338% 1000.00000000 2.98615017 0.00000000 0.00000000 B-6 3,908,267.00 3.58338% 1000.00000000 2.98615217 0.00000000 0.00000000 A-R 100.00 2.55825% 0.00000000 0.00000000 0.00000000 0.00000000 Non-Supported Interest Realized Total Interest Remaining Unpaid Ending Certificate/ Class(5) Shortfall Loss (6) Distribution Interest Shortfall Notational Balance - -------- ------------- ---------- -------------- ------------------ ------------------- A-1 0.00000000 0.00000000 2.06703551 0.00000000 760.37473112 X-1 0.00000000 0.00000000 0.28306996 0.00000000 546.73780978 A-2 0.00000007 0.00000000 2.08320707 0.00000000 755.62490553 X-2 0.00000000 0.00000000 0.00000000 0.00000000 759.61820315 B-1 0.00000000 0.00000000 2.86666667 0.00000000 1000.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.41666667 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.98615274 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.98615227 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.98615017 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.98615217 0.00000000 1000.00000000 A-R 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 29,268,526.64 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 12,625.23 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 29,281,151.87 Withdrawals Reimbursement for Servicer Advances 14,895.02 Payment of Service Fee 248,313.42 Payment of Interest and Principal 29,017,943.43 ------------- Total Withdrawals (Pool Distribution Amount) 29,281,151.87 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 244,751.05 Master Servicing Fee 3,562.37 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 248,313.42 ==========
OTHER ACCOUNTS
Account Type Beginning Balance Current Withdrawals Current Deposits Ending Balance - ------------------------------- ----------------- ------------------- ---------------- -------------- Class 1-A Companion Sub Account 4,000.00 60,241.34 60,241.34 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 14,230.85 14,230.85 2,000.00 Class 2-A NAS Sub Account 500.00 0.00 0.00 500.00 Class X-B Sub Account 2,500.00 3,574.99 1,692.64 617.65
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY - ---------------------------------- ------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 13 3,811,874.60 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 1 447,991.05 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- ------------ 0 0.00 14 4,259,865.65 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 0.569676% 0.507874% 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 0.043821% 0.059688% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% -------- ------------ 0.613497% 0.567562%
FORECLOSURE REO - ------------------------------- -------------------------------- 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 Loans Balance No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% -------- -------- 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL - --------------------------------------- No. of Principal Balance Loans 0-29 Days 0 0.00 30 Days 13 3,811,874.60 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 447,991.05 180+ Days 0 0.00 -------- ------------ 14 4,259,865.65 No. of Principal Balance Loans 0-29 Days 0.000000% 0.000000% 30 Days 0.569676% 0.507874% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.043821% 0.059688% 180+ Days 0.000000% 0.000000% -------- ------------ 0.613497% 0.567562%
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 12,625.23
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 4.68590521% 95.314095% 0.000000% Class X-1 35,170,267.00 3.60004973% 35,170,267.00 4.68590521% 0.000000% 0.000000% Class X-2 35,170,267.00 3.60004973% 35,170,267.00 4.68590521% 0.000000% 0.000000% Class B-1 21,004,267.00 2.15000943% 21,004,267.00 2.79850034% 1.887405% 40.278341% Class B-2 12,700,267.00 1.30000698% 12,700,267.00 1.69211816% 1.106382% 23.610853% Class B-3 7,816,267.00 0.80007780% 7,816,267.00 1.04139915% 0.650719% 13.886730% Class B-4 5,373,267.00 0.55001085% 5,373,267.00 0.71590642% 0.325493% 6.946208% Class B-5 3,908,267.00 0.40005257% 3,908,267.00 0.52071736% 0.195189% 4.165450% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.520717% 11.112418%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP DELINQUENT POOL 1 -- 1 MO LIBOR
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------ 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------ 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------ 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------ 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------ 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000 30 Days 0.000000% 0.000000 60 Days 0.000000% 0.000000 90 Days 0.000000% 0.000000 120 Days 0.000000% 0.000000 150 Days 0.000000% 0.000000 180+ Days 0.000000% 0.000000 -------- -------- 0.000000% 0.000000
DELINQUENT POOL 1 -- 6 MO LIBOR
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 10 2,869,332.35 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 447,991.05 180+ Days 0 0.00 -------- ------------ 11 3,317,323.40 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.588235% 0.538469% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.058824% 0.084072% 180+ Days 0.000000% 0.000000% -------- ------------ 0.647059% 0.622540%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 10 2,869,332.35 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 447,991.05 180+ Days 0 0.00 -------- ------------ 11 3,317,323.40 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.588235% 0.538469% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.058824% 0.084072% 180+ Days 0.000000% 0.000000% -------- ------------ 0.647059% 0.622540%
DELINQUENT POOL 2
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 3 942,542.25 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 3 942,542.25 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.773196% 0.792409% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.773196% 0.792409%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 3 942,542.25 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 3 942,542.25 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.773196% 0.792409% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.773196% 0.792409%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.966319% Weighted Average Net Coupon 3.588447% Weighted Average Pass-Through Rate 3.582947% Weighted Average Maturity (Stepdown Calculation) 307 Beginning Scheduled Collateral Loan Count 2,349 Number of Loans Paid in Full 67 Ending Scheduled Collateral Loan Count 2,282 Beginning Scheduled Collateral Balance 777,249,741.33 Ending Scheduled Collateral Balance 750,554,383.89 Ending Actual Collateral Balance at 31-Mar-2005 750,554,511.44 Monthly P&I Constant 2,569,017.09 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 28,909,344.66 Ending Scheduled Balance for Premium Loans 750,554,383.89 Scheduled Principal 0.00 Unscheduled Principal 26,695,357.44
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 MonthLIBOR ARM Mixed ARM Weighted Average Coupon Rate 4.290251 3.922256 3.899506 3.966319 Weighted Average Net Rate 3.897126 3.546881 3.522973 3.588447 Pass-Through Rate 3.891626 3.541381 3.517473 3.582947 Weighted Average Maturity 292 309 308 307 Record Date 03/31/2005 03/31/2005 03/31/2005 03/31/2005 Principal and Interest Constant 361,053.54 1,791,547.45 416,416.10 2,569,017.09 Beginning Loan Count 202 1,738 409 2,349 Loans Paid in Full 8 38 21 67 Ending Loan Count 194 1,700 388 2,282 Beginning Scheduled Balance 100,988,079.04 548,117,408.63 128,144,253.66 777,249,741.33 Ending Scheduled Balance 98,739,095.06 532,868,891.98 118,946,396.85 750,554,383.89 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 2,248,983.98 15,248,516.65 9,197,856.81 26,695,357.44 Scheduled Interest 361,053.54 1,791,547.45 416,416.10 2,569,017.09 Servicing Fee 33,084.19 171,458.08 40,208.78 244,751.05 Master Servicing Fee 462.85 2,512.20 587.32 3,562.37 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 327,506.50 1,617,577.17 375,620.00 2,320,703.67 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 95.444869% 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 95.627848% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%