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

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Summary

This document is a distribution summary for certificateholders of the SMT Series 2004-2, administered by Wells Fargo Bank Minnesota, N.A. It details the principal and interest payments made to holders of various classes of certificates as of the May 28, 2004 record date and June 21, 2004 distribution date. The summary includes beginning and ending balances, distribution amounts, and rates for each class. All calculations are made in accordance with the Pooling and Servicing Agreement, and no realized losses are reported for this period.

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EX-10.1 2 f00143cexv10w1.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 2004-2 RECORD DATE: MAY 28, 2004 DISTRIBUTION DATE: JUNE 21, 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% 654,247,207.05 790,548.71 7,484,923.62 X-1 81744FAP2 IO 0.80000% 0.00 400,352.55 0.00 X-2 81744FAQ0 IO 0.56609% 0.00 308,634.78 0.00 X-B 81744FAR8 IO 0.96927% 0.00 14,983.31 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 2.75040% 3,150,000.00 7,219.81 0.00 B-4 81744FAW7 SUB 2.75040% 1,750,000.00 4,011.00 0.00 B-5 81744FAX5 SUB 2.75040% 1,400,000.00 3,208.80 0.00 B-6 81744FAY6 SUB 2.75040% 3,150,069.00 7,219.97 0.00 A-R 81744FAS6 RES 2.74862% 0.00 0.00 0.00 -------------- ------------ ------------ Totals 682,247,276.05 1,563,712.26 7,484,923.62 -------------- ------------ ------------ Ending Current Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ----- ----- ------------- ------- ------------ ------------- A 81744FAN7 0.00 646,762,283.43 8,275,472.33 0.00 X-1 81744FAP2 0.00 0.00 400,352.55 0.00 X-2 81744FAQ0 0.00 0.00 308,634.78 0.00 X-B 81744FAR8 0.00 0.00 14,983.31 0.00 B-1 81744FAT4 0.00 11,550,000.00 15,400.00 0.00 B-2 81744FAU1 0.00 7,000,000.00 12,133.33 0.00 B-3 81744FAV9 0.00 3,150,000.00 7,219.81 0.00 B-4 81744FAW7 0.00 1,750,000.00 4,011.00 0.00 B-5 81744FAX5 0.00 1,400,000.00 3,208.80 0.00 B-6 81744FAY6 0.00 3,150,069.00 7,219.97 0.00 A-R 81744FAS6 0.00 0.00 0.00 0.00 ---- -------------- ------------ ---- Totals 0.00 674,762,352.43 9,048,635.88 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 671,998,000.00 654,247,207.05 0.00 7,484,923.62 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 X-B 0.00 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 0.00 B-2 7,000,000.00 7,000,000.00 0.00 0.00 0.00 0.00 B-3 3,150,000.00 3,150,000.00 0.00 0.00 0.00 0.00 B-4 1,750,000.00 1,750,000.00 0.00 0.00 0.00 0.00 B-5 1,400,000.00 1,400,000.00 0.00 0.00 0.00 0.00 B-6 3,150,069.00 3,150,069.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------ ---- ---- Totals 699,998,169.00 682,247,276.05 0.00 7,484,923.62 0.00 0.00 -------------- -------------- ---- ------------ ---- ---- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------- ------- ---------- ------------ A 7,484,923.62 646,762,283.43 0.96244674 7,484,923.62 X-1 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-1 0.00 11,550,000.00 1.00000000 0.00 B-2 0.00 7,000,000.00 1.00000000 0.00 B-3 0.00 3,150,000.00 1.00000000 0.00 B-4 0.00 1,750,000.00 1.00000000 0.00 B-5 0.00 1,400,000.00 1.00000000 0.00 B-6 0.00 3,150,069.00 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ------------ -------------- ---------- ------------ Totals 7,484,923.62 674,762,352.43 0.96394874 7,484,923.62 ------------ -------------- ---------- ------------
(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 Realized Class Amount Balance Distribution Distribution Accretion Loss (3) - ----- ------ ------- ------------ ------------ --------- -------- A 671,998,000.00 973.58505092 0.00000000 11.13831235 0.00000000 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------- ------- ---------- ------------ A 11.13831235 962.44673858 0.96244674 11.13831235 X-1 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000 A-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 671,998,000.00 1.45000% 654,247,207.05 790,548.71 0.00 0.00 0.00 0.00 X-1 0.00 0.80000% 600,528.818.95 400,352.55 0.00 0.00 0.00 0.00 X-2 0.00 0.56609% 654,247,207.05 308,634.78 0.00 0.00 0.00 0.00 X-B 0.00 0.96927% 18,550,000.00 14,983.31 0.00 0.00 0.00 0.00 B-1 11,550,000.00 1.60000% 11,550,000.00 15,400.00 0.00 0.00 0.00 0.00 B-2 7,000,000.00 2.08000% 7,000,000.00 12,133.33 0.00 0.00 0.00 0.00 B-3 3,150,000.00 2.75040% 3,150,000.00 7,219.81 0.00 0.00 0.00 0.00 B-4 1,750,000.00 2.75040% 1,750,000.00 4,011.00 0.00 0.00 0.00 0.00 B-5 1,400,000.00 2.75040% 1,400,000.00 3,208.80 0.00 0.00 0.00 0.00 B-6 3,150,069.00 2.75040% 3,150,069.00 7,219.97 0.00 0.00 0.00 0.00 A-R 100.00 2.74862% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Totals 699,998,169.00 1,563,712.26 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ----- ------------ --------- ------- A 790,548.71 0.00 646,762,283.43 X-1 400,352.55 0.00 578,365,718.65 X-2 308,634.78 0.00 646,762,283.43 X-B 14,983.31 0.00 18,550,000.00 B-1 15,400.00 0.00 11,550,000.00 B-2 12,133.33 0.00 7,000,000.00 B-3 7,219.81 0.00 3,150,000.00 B-4 4,011.00 0.00 1,750,000.00 B-5 3,208.80 0.00 1,400,000.00 B-6 7,219.97 0.00 3,150,069.00 A-R 0.00 0.00 0.00 ------------ ---- Totals 1,563,712.26 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 Non- Current Beginning Unpaid Current Supported Class Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --- ------ ---- ---------------- -------- --------- --------- --------- -------- A 671,998,000.00 1.45000% 973.58505092 1.17641527 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.80000% 893.64673548 0.59576450 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.56609% 973.58505092 0.45927931 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.96927% 1000.00000000 0.80772561 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 1.60000% 1000.00000000 1.33333333 0.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 2.08000% 1000.00000000 1.73333286 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 2.75040% 1000.00000000 2.29200317 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 2.75040% 1000.00000000 2.29200000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 2.75040% 1000.00000000 2.29200000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 2.75040% 1000.00000000 2.29200376 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.74862% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance --- ------------ --------- ------------------ A 1.17641527 0.00000000 962.44673858 X-1 0.59576450 0.00000000 860.66583331 X-2 0.45927931 0.00000000 962.44673858 X-B 0.80772561 0.00000000 1000.00000000 B-1 1.33333333 0.00000000 1000.00000000 B-2 1.73333286 0.00000000 1000.00000000 B-3 2.29200317 0.00000000 1000.00000000 B-4 2.29200000 0.00000000 1000.00000000 B-5 2.29200000 0.00000000 1000.00000000 B-6 2.29200376 0.00000000 1000.00000000 A-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 9,224,560.25 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 46,695.82 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 9,271,256.07 Withdrawals Reimbursement for Servicer Advances 2,633.61 Payment of Service Fee 219,986.59 Payment of Interest and Principal 9,048,635.87 ------------ Total Withdrawals (Pool Distribution Amount) 9,271,256.07 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 214,585.45 Master Servicing Fee 5,401.14 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 219,986.59 ==========
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 55 18,597,161.39 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 1 748,000.00 120 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 -------- ------------- -------- -------- -------- -------- 56 19,345,161.39 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 2.806122% 2.756103% 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 0.051020% 0.110854% 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% -------- ------------- -------- -------- -------- -------- 2.857143% 2.866956% 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 55 18,597,161.39 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 1 748,000.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- ------------- 0 0.00 56 19,345,161.39 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 2.806122% 2.756103% 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 0.051020% 0.110854% 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% 2.857143% 2.866956%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 46,695.82
Original $ Original% Current $ Current % Current Class % Prepayment % ---------- --------- --------- --------- --------------- ------------ Class A 28,000,069.00 4.00002032% 28,000,069.00 4.14961933% 95.850381% 0.000000% Class X-1 28,000,069.00 4.00002032% 28,000,069.00 4.14961933% 0.000000% 0.000000% Class X-2 28,000,069.00 4.00002032% 28,000,069.00 4.14961933% 0.000000% 0.000000% Class B-1 16,450,069.00 2.35001600% 16,450,069.00 2.43790557% 1.711714% 41.249898% Class B-2 9,450,069.00 1.35001339% 9,450,069.00 1.40050330% 1.037402% 24.999938% Class B-3 6,300,069.00 0.90001221% 6,300,069.00 0.93367227% 0.466831% 11.249972% Class B-4 4,550,069.00 0.65001156% 4,550,069.00 0.67432170% 0.259351% 6.249985% Class B-5 3,150,069.00 0.45001103% 3,150,069.00 0.46684125% 0.207480% 4.999988% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.466841% 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 3.137335% Weighted Average Net Coupon 2.759903% Weighted Average Pass-Through Rate 2.750403% Weighted Average Maturity (Stepdown Calculation) 341 Beginning Scheduled Collateral Loan Count 1,980 Number of Loans Paid in Full 20 Ending Scheduled Collateral Loan Count 1,960 Beginning Scheduled Collateral Balance 682,247,276.12 Ending Scheduled Collateral Balance 674,762,352.50 Ending Actual Collateral Balance at 28-May-2004 674,762,998.58 Monthly P&I Constant 1,783,698.82 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 8,999,442.96 Ending Scheduled Balance for Premium Loans 674,762,352.50 Scheduled Principal 0.00 Unscheduled Principal 7,484,923.62
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 76,251,246.80 Six-Month Libor Loan Balance 598,511,105.70 Prorata Senior Percentage 95.895906% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%