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 the December 31, 2004 record date and January 20, 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.

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EX-10.1 2 f05544aexv10w1.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: DECEMBER 31, 2004 DISTRIBUTION DATE: JANUARY 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Class CUSIP Description Through Rate Balance Distribution - ----- --------- ----------- ----------------- -------------- ------------ A-1 81743PDX1 SEN 2.73000% 673,287,944.00 1,531,730.06 X-1 81743PDZ6 IO 0.67028% 0.00 335,058.69 A-2 81743PDY9 SEN 3.06000% 132,475,640.88 337,812.88 X-2 81743PEA0 IO 0.16963% 0.00 113,935.57 B-1 81743PED4 SUB 3.00000% 14,166,000.00 35,415.00 X-B 81743PEB8 IO 0.28549% 0.00 3,927.10 B-2 81743PEE2 SUB 3.66000% 8,304,000.00 25,327.20 B-3 81743PEF9 SUB 3.45284% 4,884,000.00 14,053.06 B-4 81743PEG7 SUB 3.45284% 2,443,000.00 7,029.41 B-5 81743PEH5 SUB 3.45284% 1,465,000.00 4,215.34 B-6 81743PEJ1 SUB 3.45284% 3,908,267.00 11,245.51 A-R 81743PEC6 RES 2.56030% 0.00 0.00 -------------- ------------ Totals 840,933,851.88 2,419,749.82 ============== ============
Ending Principal Current Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ----- ------------- ------------- -------------- ------------- ------------- A-1 16,280,852.69 0.00 657,007,091.31 17,812,582.75 0.00 X-1 0.00 0.00 0.00 335,058.69 0.00 A-2 4,139,518.22 0.00 128,336,122.66 4,477,331.10 0.00 X-2 0.00 0.00 0.00 113,935.57 0.00 B-1 0.00 0.00 14,166,000.00 35,415.00 0.00 X-B 0.00 0.00 0.00 3,927.10 0.00 B-2 0.00 0.00 8,304,000.00 25,327.20 0.00 B-3 0.00 0.00 4,884,000.00 14,053.06 0.00 B-4 0.00 0.00 2,443,000.00 7,029.41 0.00 B-5 0.00 0.00 1,465,000.00 4,215.34 0.00 B-6 0.00 0.00 3,908,267.00 11,245.51 0.00 A-R 0.00 0.00 0.00 0.00 0.00 ------------- ---- -------------- ------------- ---- Totals 20,420,370.91 0.00 820,513,480.97 22,840,120.73 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 Class Amount Balance Distribution Distribution Accretion - ----- -------------- -------------- ------------ ------------- --------- A-1 791,768,000.00 673,287,944.00 0.00 16,280,852.69 0.00 X-1 0.00 0.00 0.00 0.00 0.00 A-2 150,000,000.00 132,475,640.88 0.00 4,139,518.22 0.00 X-2 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 X-B 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 B-3 4,884,000.00 4,884,000.00 0.00 0.00 0.00 B-4 2,443,000.00 2,443,000.00 0.00 0.00 0.00 B-5 1,465,000.00 1,465,000.00 0.00 0.00 0.00 B-6 3,908,267.00 3,908,267.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- Totals 976,938,367.00 840,933,851.88 0.00 20,420,370.91 0.00 ============== ============== ==== ============= ====
Total Ending Ending Realized Principal Certificate Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ----- -------- ------------- -------------- ----------- --------------- A-1 0.00 16,280,852.69 657,007,091.31 0.82979748 16,280,852.69 X-1 0.00 0.00 0.00 0.00000000 0.00 A-2 0.00 4,139,518.22 128,336,122.66 0.85557415 4,139,518.22 X-2 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 14,166,000.00 1.00000000 0.00 X-B 0.00 0.00 0.00 0.00000000 0.00 B-2 0.00 0.00 8,304,000.00 1.00000000 0.00 B-3 0.00 0.00 4,884,000.00 1.00000000 0.00 B-4 0.00 0.00 2,443,000.00 1.00000000 0.00 B-5 0.00 0.00 1,465,000.00 1.00000000 0.00 B-6 0.00 0.00 3,908,267.00 1.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 ---- ------------- -------------- ----------- ------------- Totals 0.00 20,420,370.91 820,513,480.97 0.83988254 20,420,370.91 ==== ============= ============== =========== =============
(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 Class Amount Balance Distribution Distribution Accretion - ----- -------------- ------------- ------------ ------------ ---------- A-1 791,768,000.00 850.36013580 0.00000000 20.56265559 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 150,000,000.00 883.17093920 0.00000000 27.59678813 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,166,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,304,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 4,884,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 2,443,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,465,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 3,908,267.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
Total Ending Ending Realized Principal Certificate Certificate Total Principal Class Loss (3) Reduction Balance Percentage Distribution - ----- ---------- ----------- ------------- ----------- --------------- A-1 0.00000000 20.56265559 829.79748021 0.82979748 20.56265559 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 27.59678813 855.57415107 0.85557415 27.59678813 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 A-R 0.00000000 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 Current Certificate/ Current Unpaid Current Original Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall - ----- -------------- ----------- -------------- ------------ ---------- --------- A-1 791,768,000.00 2.73000% 673,287,944.00 1,531,730.07 0.00 0.00 X-1 0.00 0.67028% 599,839,671.21 335,049.76 0.00 0.00 A-2 150,000,000.00 3.06000% 132,475,640.88 337,812.88 0.00 0.00 X-2 0.00 0.16963% 805,763,584.88 113,899.86 0.00 0.00 B-1 14,166,000.00 3.00000% 14,166,000.00 35,415.00 0.00 0.00 X-B 0.00 0.28549% 22,470,000.00 5,345.77 0.00 0.00 B-2 8,304,000.00 3.66000% 8,304,000.00 25,327.20 0.00 0.00 B-3 4,884,000.00 3.45284% 4,884,000.00 14,053.06 0.00 0.00 B-4 2,443,000.00 3.45284% 2,443,000.00 7,029.41 0.00 0.00 B-5 1,465,000.00 3.45284% 1,465,000.00 4,215.34 0.00 0.00 B-6 3,908,267.00 3.45284% 3,908,267.00 11,245.51 0.00 0.00 A-R 100.00 2.56030% 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- Totals 976,938,367.00 2,421,123.86 0.00 0.00 ============== ============ ==== ====
Non- Remaining Ending Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - ----- --------- -------- -------------- --------- -------------- A-1 0.01 0.00 1,531,730.06 0.00 657,007,091.31 X-1 0.00 0.00 335,058.69 0.00 577,448,036.98 A-2 0.00 0.00 337,812.88 0.00 128,336,122.66 X-2 0.00 0.00 113,935.57 0.00 785,343,213.97 B-1 0.00 0.00 35,415.00 0.00 14,166,000.00 X-B 0.00 0.00 3,927.10 0.00 22,470,000.00 B-2 0.00 0.00 25,327.20 0.00 8,304,000.00 B-3 0.00 0.00 14,053.06 0.00 4,884,000.00 B-4 0.00 0.00 7,029.41 0.00 2,443,000.00 B-5 0.00 0.00 4,215.34 0.00 1,465,000.00 B-6 0.00 0.00 11,245.51 0.00 3,908,267.00 A-R 0.00 0.00 0.00 0.00 0.00 ---- ---- ------------- ---- Totals 0.01 0.00 2,419,749.82 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 Original Face Certificate Certificate/ Accrued Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall - --------- -------------- ----------- ---------------- ---------- ---------- ---------- A-1 791,768,000.00 2.73000% 850.36013580 1.93456931 0.00000000 0.00000000 X-1 0.00 0.67028% 636.92934057 0.35576677 0.00000000 0.00000000 A-2 150,000,000.00 3.06000% 883.17093920 2.25208587 0.00000000 0.00000000 X-2 0.00 0.16963% 855.58607309 0.12094259 0.00000000 0.00000000 B-1 14,166,000.00 3.00000% 1000.00000000 2.50000000 0.00000000 0.00000000 X-B 0.00 0.28549% 1000.00000000 0.23790699 0.00000000 0.00000000 B-2 8,304,000.00 3.66000% 1000.00000000 3.05000000 0.00000000 0.00000000 B-3 4,884,000.00 3.45284% 1000.00000000 2.87736691 0.00000000 0.00000000 B-4 2,443,000.00 3.45284% 1000.00000000 2.87736799 0.00000000 0.00000000 B-5 1,465,000.00 3.45284% 1000.00000000 2.87736519 0.00000000 0.00000000 B-6 3,908,267.00 3.45284% 1000.00000000 2.87736483 0.00000000 0.00000000 A-R 100.00 2.56030% 0.00000000 0.00000000 0.00000000 0.00000000
Non- Remaining Ending Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class (5) Shortfall Loss (6) Distribution Shortfall Balance - --------- ---------- ---------- -------------- ---------- ------------- A-1 0.00000001 0.00000000 1.93456929 0.00000000 829.79748021 X-1 0.00000000 0.00000000 0.35577625 0.00000000 613.15317252 A-2 0.00000000 0.00000000 2.25208587 0.00000000 855.57415107 X-2 0.00000000 0.00000000 0.12098051 0.00000000 833.90305677 B-1 0.00000000 0.00000000 2.50000000 0.00000000 1000.00000000 X-B 0.00000000 0.00000000 0.17477081 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.05000000 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.87736691 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.87736799 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.87736519 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.87736483 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 23,117,219.99 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 7,578.32 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 23,124,798.31 Withdrawals Reimbursement for Servicer Advances 16,115.17 Payment of Service Fee 268,562.14 Payment of Interest and Principal 22,840,120.73 ------------- Total Withdrawals (Pool Distribution Amount) 23,124,798.31 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 264,708.12 Master Servicing Fee 3,854.29 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 268,562.41 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------------------------- --------- ----------- --------- -------- Class 1-A Companion Sub Account 4,000.00 23.81 23.81 4,000.00 Class 1-A NAS Sub Account 1,000.00 5.95 5.95 1,000.00 Class 2-A Companion Sub Account 2,000.00 11.90 11.90 2,000.00 Class 2-A NAS Sub Account 500.00 2.98 2.98 500.00 Class X-B Sub Account 2,500.00 1,448.43 1,448.43 2,500.00
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 8 1,928,323.44 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 447,991.05 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 1 100,000.00 180+ Days 0 0.00 180+ Days 0 0.00 -- ------------ -- ---- -- ---- 10 2,476,314.49 0 0.00 0 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 8 1,928,323.44 60 Days 0 0.00 60 Days 1 447,991.05 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 1 100,000.00 -- ---- -- ------------ 0 0.00 10 2,476,314.49 == ==== == ============
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- 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 0.325600% 0.235014% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.040700% 0.054599% 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 0.040700% 0.012187% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- -------- -------- 0.407000% 0.301801% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- -------------------------------- 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 0.325600% 0.235014% 60 Days 0.000000% 0.000000% 60 Days 0.040700% 0.054599% 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 0.040700% 0.012187% -------- -------- -------- -------- 0.000000% 0.000000% 0.407000% 0.301801% ======== ======== ======== ========
Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties .00 Periodic Advance 7,578.32
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 4.28637284% 95.713627% 0.000000% Class X-1 35,170,267.00 3.60004973% 35,170,267.00 4.28637284% 0.000000% 0.000000% Class X-2 35,170,267.00 3.60004973% 35,170,267.00 4.28637284% 0.000000% 0.000000% Class B-1 21,004,267.00 2.15000943% 21,004,267.00 2.55989298% 1.726480% 40.278341% Class B-2 12,700,267.00 1.30000698% 12,700,267.00 1.54784379% 1.012049% 23.610853% Class B-3 7,816,267.00 0.80007780% 7,816,267.00 0.95260677% 0.595237% 13.886730% Class B-4 5,373,267.00 0.55001085% 5,373,267.00 0.65486639% 0.297740% 6.946208% Class B-5 3,908,267.00 0.40005257% 3,908,267.00 0.47631966% 0.178547% 4.165450% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.476320% 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 == ==== == ==== == ====
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 == ==== == ====
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- --------------------------------- -------------------------------- 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 0.000000% 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 5 1,338,782.42 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 447,991.05 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 -- ------------ -- ---- -- ---- 6 1,786,773.47 0 0.00 0 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 5 1,338,782.42 60 Days 0 0.00 60 Days 1 447,991.05 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 6 1,786,773.47 == ==== == ============
DELINQUENT BANKRUPTCY FORECLOSURE - ----------------------------------- --------------------------------- -------------------------------- 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 0.274876% 0.230972% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.054975% 0.077289% 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% -------- -------- -------- -------- -------- -------- 0.329852% 0.308261% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - --------------------------------- ------------------------------------ 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 0.274876% 0.230972% 60 Days 0.000000% 0.000000% 60 Days 0.054975% 0.077289% 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% 0.329852% 0.308261% ======== ======== ======== ========
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 3 589,541.02 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 1 100,000.00 180+ Days 0 0.00 180+ Days 0 0.00 -- ----------- -- ----- -- ---- 4 689,541.02 0 0.00 0 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 3 589,541.02 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 1 100,000.00 -- ---- -- ----------- 0 0.00 4 689,541.02 == ==== == ===========
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- 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 0.709220% 0.440157% 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 0.236407% 0.074661% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- -------- -------- 0.945626% 0.514818% 0.000000% 0.000000% 0.000000% 0.000000% ======== ======== ======== ======== ======== ========
REO TOTAL - -------------------------------- --------------------------------- 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 0.709220% 0.440157% 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 0.236407% 0.074661% -------- -------- -------- -------- 0.000000% 0.000000% 0.945626% 0.514818% ======== ======== ======== ========
COLLATERAL STATEMENT
Collateral Description Mixed Arm - ---------------------- -------------- Weighted Average Gross Coupon 3.836327% Weighted Average Net Coupon 3.458593% Weighted Average Pass-Through Rate 3.453093% Weighted Average Maturity (Stepdown Calculation) 310 Beginning Scheduled Collateral Loan Count 2,512 Number of Loans Paid in Full 55 Ending Scheduled Collateral Loan Count 2,457 Beginning Scheduled Collateral Balance 840,933,852.83 Ending Scheduled Collateral Balance 820,513,481.92 Ending Actual Collateral Balance at 31-Dec-2004 820,513,454.08 Monthly P&I Constant 2,688,414.70 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 22,737,415.05 Ending Scheduled Balance for Premium Loans 820,513,481.92 Scheduled Principal 0.00 Unscheduled Principal 20,420,370.91
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 3.669357 3.866439 3.838933 3.836327 Weighted Average Net Rate 3.277596 3.491051 3.462206 3.458593 Pass-Through Rate 3.272096 3.485551 3.456706 3.453093 Weighted Average Maturity 295 312 311 310 Record Date 12/31/2004 12/31/2004 12/31/2004 12/31/2004 Principal and Interest Constant 333,948.53 1,912,738.38 441,727.79 2,688,414.70 Beginning Loan Count 219 1,858 435 2,512 Loans Paid in Full 4 39 12 55 Ending Loan Count 215 1,819 423 2,457 Beginning Scheduled Balance 109,212,121.73 593,643,429.20 138,078,301.90 840,933,852.83 Ending Scheduled Balance 106,945,240.79 579,629,457.45 133,938,783.68 820,513,481.92 Scheduled Principal 0.00 0.00 0.00 0.00 Unscheduled Principal 2,266,880.94 14,013,971.75 4,139,518.22 20,420,370.91 Scheduled Interest 333,948.53 1,912,738.38 441,727.79 2,688,414.70 Servicing Fee 35,654.22 185,705.69 43,348.21 264,708.12 Master Servicing Fee 500.56 2,720.87 632.86 3,854.29 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 297,793.75 1,724,311.82 397,746.72 2,419,852.29 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 95.793217% 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 95.942403% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%