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

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Summary

This document summarizes the distribution of principal and interest to certificateholders of the SMT Series 2004-2 trust, administered by Wells Fargo Bank Minnesota, N.A. It details the amounts distributed to each class of certificates as of the January 31, 2005 record date and the February 22, 2005 distribution date. The report includes beginning and ending balances, interest and principal payments, 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 f06741bexv10w1.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: JANUARY 31, 2005 DISTRIBUTION DATE: FEBRUARY 22, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Current Ending Certificate Class CUSIP Description Through Rate Balance Distribution Distribution Realized Loss Balance - ----- --------- ----------- ----------------- -------------- ------------ ------------- ------------- ------------------ A 81744FAN7 SEN 2.19125% 552,007,501.53 1,007,988.70 15,555,593.64 0.00 536,451,907.89 X-1 81744FAP2 IO 0.80000% 0.00 295,752.85 0.00 0.00 0.00 X-2 81744FAQ0 IO 0.96934% 0.00 445,904.35 0.00 0.00 0.00 X-B 81744FAR8 IO 0.62239% 0.00 9,621.18 0.00 0.00 0.00 B-1 81744FAT4 SUB 3.00000% 11,550,000.00 28,875.00 0.00 0.00 11,550,000.00 B-2 81744FAU1 SUB 3.48000% 7,000,000.00 20,300.00 0.00 0.00 7,000,000.00 B-3 81744FAV9 SUB 3.80353% 3,150,000.00 9,984.26 0.00 0.00 3,150,000.00 B-4 81744FAW7 SUB 3.80353% 1,750,000.00 5,546.81 0.00 0.00 1,750,000.00 B-5 81744FAX5 SUB 3.80353% 1,400,000.00 4,437.45 0.00 0.00 1,400,000.00 B-6 81744FAY6 SUB 3.80353% 3,150,069.00 9,984.48 0.00 0.00 3,150,069.00 A-R 81744FAS6 RES 2.66639% 0.00 0.00 0.00 0.00 0.00 - ----- --------- ----------- ----------------- -------------- ------------ ------------- ------------- ------------------ Totals 580,007,570.53 1,838,395.08 15,555,593.64 0.00 564,451,976.89 - ----- --------- ----------- ----------------- -------------- ------------ ------------- ------------- ------------------ Total Cumulative Class CUSIP Distribution Realized Loss - ----- --------- -------------- ------------- A 81744FAN7 16,563,582.34 0.00 X-1 81744FAP2 295,752.85 0.00 X-2 81744FAQ0 445,904.35 0.00 X-B 81744FAR8 9,621.18 0.00 B-1 81744FAT4 28,875.00 0.00 B-2 81744FAU1 20,300.00 0.00 B-3 81744FAV9 9,984.26 0.00 B-4 81744FAW7 5,546.81 0.00 B-5 81744FAX5 4,437.45 0.00 B-6 81744FAY6 9,984.48 0.00 A-R 81744FAS6 0.00 0.00 - ----- --------- -------------- ------------- Totals 17,393,988.72 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 671,998,000.00 552,007,501.53 0.00 15,555,593.64 0.00 0.00 15,555,593.64 536,451,907.89 X-1 0.00 0.00 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 0.00 0.00 X-B 0.00 0.00 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 0.00 11,550,000.00 B-2 7,000,000.00 7,000,000.00 0.00 0.00 0.00 0.00 0.00 7,000,000.00 B-3 3,150,000.00 3,150,000.00 0.00 0.00 0.00 0.00 0.00 3,150,000.00 B-4 1,750,000.00 1,750,000.00 0.00 0.00 0.00 0.00 0.00 1,750,000.00 B-5 1,400,000.00 1,400,000.00 0.00 0.00 0.00 0.00 0.00 1,400,000.00 B-6 3,150,069.00 3,150,069.00 0.00 0.00 0.00 0.00 0.00 3,150,069.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - ----- -------------- -------------- ------------- ------------- --------- -------- --------------- ------------------ Totals 699,998,169.00 580,007,570.53 0.00 15,555,593.64 0.00 0.00 15,555,593.64 564,451,976.89 - ----- -------------- -------------- ------------- ------------- --------- -------- --------------- ------------------ Ending Certificate Total Principal Class Percentage Distribution - ----- ------------------ --------------- A 0.79829391 15,555,593.64 X-1 0.00000000 0.00 X-2 0.00000000 0.00 X-B 0.00000000 0.00 B-1 1.00000000 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 0.80636208 - ----- ------------------ ---------------
(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 671,998,000.00 821.44217919 0.00000000 23.14827372 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 23.14827372 ###-###-#### 0.79829391 23.14827372 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 Certificate/ Current Unpaid Current Original Face Current Notional Accrued Interest Interest Class Amount Certificate Rate Balance Interest Shortfall Shortfall --------------- ---------------- --------------- -------------- ------------ ------------- A 671,998,000.00 2.19125% 552,007,501.53 1,007,988.70 0.00 0.00 X-1 0.00 0.80000% 443,629,270.58 295,752.85 0.00 0.00 X-2 0.00 0.96934% 552,007,501.53 445,904.35 0.00 0.00 X-B 0.00 0.62239% 18,550,000.00 9,621.18 0.00 0.00 B-1 11,550,000.00 3.00000% 11,550,000.00 28,875.00 0.00 0.00 B-2 7,000,000.00 3.48000% 7,000,000.00 20,300.00 0.00 0.00 B-3 3,150,000.00 3.80353% 3,150,000.00 9,984.26 0.00 0.00 B-4 1,750,000.00 3.80353% 1,750,000.00 5,546.81 0.00 0.00 B-5 1,400,000.00 3.80353% 1,400,000.00 4,437.45 0.00 0.00 B-6 3,150,069.00 3.80353% 3,150,069.00 9,984.48 0.00 0.00 A-R 100.00 2.66639% 0.00 0.00 0.00 0.00 - ------------ ---------------------- ------------------- ------------------ ----------------- --------------- --------------- Totals 699,998,169.00 1,838,395.08 0.00 0.00 - ------------ ---------------------- ------------------- ------------------ ----------------- --------------- --------------- Non- Remaining Ending Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss(4) Distribution Shortfall Balance -------------- ------------- -------------- -------------- ------------------ A 0.00 0.00 1,007,988.70 0.00 536,451,907.89 X-1 0.00 0.00 295,752.85 0.00 426,998,740.85 X-2 0.00 0.00 445,904.35 0.00 536,451,907.89 X-B 0.00 0.00 9,621.18 0.00 18,550,000.00 B-1 0.00 0.00 28,875.00 0.00 11,550,000.00 B-2 0.00 0.00 20,300.00 0.00 7,000,000.00 B-3 0.00 0.00 9,984.26 0.00 3,150,000.00 B-4 0.00 0.00 5,546.81 0.00 1,750,000.00 B-5 0.00 0.00 4,437.45 0.00 1,400,000.00 B-6 0.00 0.00 9,984.48 0.00 3,150,069.00 A-R 0.00 0.00 0.00 0.00 0.00 - ------------ -------------- -------------- ------------------ ---------------- --------------------- Totals 0.00 0.00 1,838,395.08 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 Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Class(5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall - ---------- -------------- -------- ---------------- --------------- ----------- ---------- ---------- A 671,998,000.00 2.19125% 821.44217919 1.49998765 0.00000000 0.00000000 0.00000000 X-1 0.00 0.80000% 660.16456981 0.44010972 0.00000000 0.00000000 0.00000000 X-2 0.00 0.96934% 821.44217919 0.66355011 0.00000000 0.00000000 0.00000000 X-B 0.00 0.62239% 1000.00000000 0.51866199 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 3.00000% 1000.00000000 2.50000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 3.48000% 1000.00000000 2.90000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 3.80353% 1000.00000000 3.16960635 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 3.80353% 1000.00000000 3.16960571 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 3.80353% 1000.00000000 3.16960714 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 3.80353% 1000.00000000 3.16960676 0.00000000 0.00000000 0.00000000 A-R 100.00 2.66639% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 -------------- -------- ------------ ---------- ---------- ---------- ---------- Remaining Unpaid Realized Total Interest Interest Ending Certificate/ Class(5) Loss(6) Distribution Shortfall Notational Balance - ---------- ---------- -------------- ---------- ------------------- A 0.00000000 1.49998765 0.00000000 798.29390547 X-1 0.00000000 0.44010972 0.00000000 635.41668405 X-2 0.00000000 0.66355011 0.00000000 798.29390547 X-B 0.00000000 0.51866199 0.00000000 1000.00000000 B-1 0.00000000 2.50000000 0.00000000 1000.00000000 B-2 0.00000000 2.90000000 0.00000000 1000.00000000 B-3 0.00000000 3.16960635 0.00000000 1000.00000000 B-4 0.00000000 3.16960571 0.00000000 1000.00000000 B-5 0.00000000 3.16960714 0.00000000 1000.00000000 B-6 0.00000000 3.16960676 0.00000000 1000.00000000 A-R 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 17,559,597.33 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 35,249.16 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 --------------------- Total Deposits 17,594,846.49 Withdrawals Reimbursement for Servicer Advances 13,575.77 Payment of Service Fee 187,282.01 Payment of Interest and Principal 17,393,988.71 --------------------- Total Withdrawals (Pool Distribution Amount) 17,594,846.49 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 182,688.87 Master Servicing Fee 4,593.14 Supported Prepayment/Curtailment Interest Shortfall 0.00 --------------------- Net Servicing Fee 187,282.01 =====================
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 29 10,508,920.99 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 249,278.29 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 1 182,400.00 120 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 ------- --------------- ----- ------------ ----- ------------ 31 10,940,599.28 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 1.703878% 1.861784% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.058754% 0.044163% 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 0.058754% 0.032314% 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% --------- --------- --------- --------- --------- --------- 1.821387% 1.938262% 0.000000% 0.000000% 0.000000% 0.000000% Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 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 29 10,508,920.99 60 Days 0 0.00 60 Days 1 249,278.29 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 1 182,400.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 ------- ------------ ----- -------------- 0 0.00 31 10,940,599.28 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 1.703878% 1.861784% 60 Days 0.000000% 0.000000% 60 Days 0.058754% 0.044163% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.058754% 0.032314% 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% 1.821387% 1.938262% Periodic Advance 35,249.16
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ----------- ------------- ----------- --------------- ------------- Class A 28,000,069.00 4.00002032% 28,000,069.00 4.96057595% 95.039424% 0.000000% Class X-1 28,000,069.00 4.00002032% 28,000,069.00 4.96057595% 0.000000% 0.000000% Class X-2 28,000,069.00 4.00002032% 28,000,069.00 4.96057595% 0.000000% 0.000000% Class B-1 16,450,069.00 2.35001600% 16,450,069.00 2.91434341% 2.046233% 41.249898% Class B-2 9,450,069.00 1.35001339% 9,450,069.00 1.67420248% 1.240141% 24.999938% Class B-3 6,300,069.00 0.90001221% 6,300,069.00 1.11613906% 0.558063% 11.249972% Class B-4 4,550,069.00 0.65001156% 4,550,069.00 0.80610383% 0.310035% 6.249985% Class B-5 3,150,069.00 0.45001103% 3,150,069.00 0.55807564% 0.248028% 4.999988% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.558076% 11.252019% Please refer to the prospectus supplement for a full description of loss exposure
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 4.191001% Weighted Average Net Coupon 3.813145% Weighted Average Pass-Through Rate 3.803526% Weighted Average Maturity (Stepdown Calculation) 333 Beginning Scheduled Collateral Loan Count 1,734 Number of Loans Paid in Full 32 Ending Scheduled Collateral Loan Count 1,702 Beginning Scheduled Collateral Balance 580,184,731.34 Ending Scheduled Collateral Balance 564,451,976.89 Ending Actual Collateral Balance at 31-Jan-2005 564,454,216.36 Monthly P&I Constant 2,025,677.07 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 17,314,860.71 Ending Scheduled Balance for Premium Loans 564,451,976.89 Scheduled Principal 0.00 Unscheduled Principal 15,555,593.64
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 63,525,556.89 Six-Month Libor Loan Balance 500,926,420.00 Prorata Senior Percentage 95.172465% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%