Wells Fargo Bank Minnesota, N.A. SMT Series 2004-3 Certificateholder Distribution Statement (March 2005)

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2004-3 trust. It summarizes the interest and principal payments made to certificateholders as of the February 28, 2005 record date and March 21, 2005 distribution date. The statement details the amounts distributed to each class of certificates, the remaining balances, and any realized losses. All calculations are made in accordance with the Pooling and Servicing Agreement governing the trust.

Read More Arrow
EX-10.1 2 f07709cexv10w1.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: FEBRUARY 28, 2005 DISTRIBUTION DATE: MARCH 21, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Class CUSIP Description Through Rate Balance Distribution Distribution ----- ----- ----------- ----------------- ----------- ------------ ------------ A 81744FAZ0 SEN 2.33000% 719,981,764.63 1,397,964.60 21,487,724.83 M-1 81744FBA4 SUB 3.09813% 13,800,000.00 35,628.50 0.00 M-2 81744FBB2 SUB 3.49813% 9,200,000.00 26,819.00 0.00 M-3 81744FBC0 SUB 3.84107% 2,300,000.00 7,362.05 0.00 X 81744FBD8 IO 0.00000% 0.00 932,515.75 0.00 R 81744FBE6 RES 0.00000% 0.00 0.00 0.00 - ------ --------- ----- ------- -------------- ------------ ------------- Totals 745,281,764.63 2,400,289.90 21,487,724.83 Current Ending Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss ----- ----- ------------- ------------------ ------------ ------------- A 81744FAZ0 0.00 698,494,039.80 22,885,689.43 0.00 M-1 81744FBA4 0.00 13,800,000.00 35,628.50 0.00 M-2 81744FBB2 0.00 9,200,000.00 26,819.00 0.00 M-3 81744FBC0 0.00 2,300,000.00 7,362.05 0.00 X 81744FBD8 0.00 0.00 932,515.75 0.00 R 81744FBE6 0.00 0.00 0.00 0.00 - ------ --------- ---- -------------- ------------- ---- Totals 0.00 723,794,039.80 23,888,014.73 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 894,673,000.00 719,981,764.63 0.00 21,487,724.83 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 919,973,000.00 745,281,764.63 0.00 21,487,724.83 0.00 0.00 Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------------- ------------------ ------------------ --------------- A 21,487,724.83 698,494,039.80 0.78072552 21,487,724.83 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 21,487,724.83 723,794,039.80 0.78675574 21,487,724.83
(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 894,673,000.00 804.74292242 0.00000000 24.01740617 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 24.01740617 780.72551625 0.78072552 24.01740617 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 2.33000% 719,981,764.63 1,397,964.59 0.00 0.00 (0.01) 0.00 M-1 13,800,000.00 3.09813% 13,800,000.00 35,628.50 0.00 0.00 0.00 0.00 M-2 9,200,000.00 3.49813% 9,200,000.00 26,819.00 0.00 0.00 0.00 0.00 M-3 2,300,000.00 3.84107% 2,300,000.00 7,362.05 0.00 0.00 0.00 0.00 X 0.00 0.00000% 749,881,632.60 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 1,467,774.14 0.00 0.00 (0.01) 0.00 Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ----- -------------- --------- ----------- A 1,397,964.60 0.00 698,494,039.80 M-1 35,628.50 0.00 13,800,000.00 M-2 26,819.00 0.00 9,200,000.00 M-3 7,362.05 0.00 2,300,000.00 X 932,515.75 0.00 728,393,907.77 R 0.00 0.00 0.00 - ------ ------------ ---- -------------- Totals 2,400,289.90 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 Current Unpaid Current Non-Supported Class Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ----- ------------- ----------- ---------------- -------- --------- --------- ------------- -------- A 894,673,000.00 2.33000% 804.74292242 1.56254250 0.00000000 0.00000000 (0.00000001) 0.00000000 M-1 13,800,000.00 3.09813% 1000.00000000 2.58177536 0.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 3.49813% 1000.00000000 2.91510870 0.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 3.84107% 1000.00000000 3.20089130 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 815.11212654 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 Unpaid Certificate/ Class Total Interest Interest Notational (5) Distribution Shortfall Balance - ----- -------------- --------- ----------- A 1.56254242 0.00000000 780.72551625 M-1 2.58177536 0.00000000 1000.00000000 M-2 2.91510870 0.00000000 1000.00000000 M-3 3.20089130 0.00000000 1000.00000000 X 1.01363317 0.00000000 791.75523351 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 24,107,211.17 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 49,541.87 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 24,156,753.04 Withdrawals Reimbursement for Servicer Advances 30,191.48 Payment of Service Fee 238,546.83 Payment of Interest and Principal 23,888,014.73 ------------- Total Withdrawals (Pool Distribution Amount) 24,156,753.04 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 234,484.97 Master Servicing Fee 4,061.86 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 238,546.83 ==========
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
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 41 13,419,062.58 60 Days 2 502,897.55 90 Days 0 0.00 120 Days 0 0.00 150 Days 1 52,392.62 180+ Days 0 0.00 --------- ------------- 44 13,974,352.75 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.760412% 1.842275% 60 Days 0.085874% 0.069042% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.042937% 0.007193% 180+ Days 0.000000% 0.000000% --------- ---------- 1.889223% 1.918510%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 1 124,570.47 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 --------- ---------- 1 124,570.47 No. of Principal Loans Balance 0-29 Days 0.042937% 0.017102% 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% --------- ---------- 0.042937% 0.017102%
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 2 411,600.00 150 Days 0 0.00 180+ Days 0 0.00 --------- ---------- 2 411,600.00 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 0.085874% 0.056508% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% --------- ---------- 0.085874% 0.056508%
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 1 124,570.47 30 Days 41 13,419,062.58 60 Days 2 502,897.55 90 Days 0 0.00 120 Days 2 411,600.00 150 Days 1 52,392.62 180+ Days 0 0.00 --------- ------------- 47 14,510,523.22 No. of Principal Loans Balance 0-29 Days 0.042937% 0.017102% 30 Days 1.760412% 1.842275% 60 Days 0.085874% 0.069042% 90 Days 0.000000% 0.000000% 120 Days 0.085874% 0.056508% 150 Days 0.042937% 0.007193% 180+ Days 0.000000% 0.000000% --------- ------------- 2.018033% 1.992119%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 49,541.87
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 4.223772% Weighted Average Net Coupon 3.848536% Weighted Average Pass-Through Rate 3.841070% Weighted Average Maturity (Stepdown Calculation) 334 Beginning Scheduled Collateral Loan Count 2,385 Number of Loans Paid in Full 56 Ending Scheduled Collateral Loan Count 2,329 Beginning Scheduled Collateral Balance 749,881,632.60 Ending Scheduled Collateral Balance 728,393,907.77 Ending Actual Collateral Balance at 28-Feb-2005 728,396,287.68 Monthly P&I Constant 2,639,440.59 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 728,393,907.77 Scheduled Principal 0.00 Unscheduled Principal 21,487,724.83 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 4,599,867.97 Overcollateralization Amount 4,599,867.97 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00 Extra Principal Distribution Amount 0.00 Excess Cash Amount 932,515.76
MISCELLANEOUS REPORTING Applied Loss Amount 0.00 1 Month LIBOR Loan Balance 75,661,536.02 6 Month LIBOR Loan Balance 652,732,371.75 M-1 Target Amount 702,900,120.10 M-2 Target Amount 717,467,999.15 M-3 Target Amount 721,109,968.69 Senior Target Amount 681,048,303.76 Step Down Date Reached? No Trigger Event? No