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

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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 2004-2 trust. It summarizes the principal and interest payments made to certificateholders as of December 31, 2004, with distributions occurring on January 20, 2005. The statement details the amounts distributed to each class of certificates, 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 f05544cexv10w1.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: DECEMBER 31, 2004 DISTRIBUTION DATE: JANUARY 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution ----- --------- ----------- ------------ -------------- ------------ A 81744FAN7 SEN 2.19125% 565,832,491.11 1,033,233.70 X-1 81744FAP2 IO 0.80000% 0.00 307,272.14 X-2 81744FAQ0 IO 0.47245% 0.00 222,801.42 X-B 81744FAR8 IO 0.25236% 0.00 3,471.26 B-1 81744FAT4 SUB 2.91000% 11,550,000.00 28,008.75 B-2 81744FAU1 SUB 3.39000% 7,000,000.00 19,775.00 B-3 81744FAV9 SUB 3.31530% 3,150,000.00 8,702.66 B-4 81744FAW7 SUB 3.31530% 1,750,000.00 4,834.81 B-5 81744FAX5 SUB 3.31530% 1,400,000.00 3,867.85 B-6 81744FAY6 SUB 3.31530% 3,150,069.00 8,702.85 A-R 81744FAS6 RES 2.66825% 0.00 489.45 -------------- ------------ Totals 593,832,560.11 1,641,159.89 ============== ============
Principal Current Ending Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss ----- ------------- ------------- ------------------ ------------- ------------- A 13,824,989.58 0.00 552,007,501.53 14,858,223.28 0.00 X-1 0.00 0.00 0.00 307,272.14 0.00 X-2 0.00 0.00 0.00 222,801.42 0.00 X-B 0.00 0.00 0.00 3,471.26 0.00 B-1 0.00 0.00 11,550,000.00 28,008.75 0.00 B-2 0.00 0.00 7,000,000.00 19,775.00 0.00 B-3 0.00 0.00 3,150,000.00 8,702.66 0.00 B-4 0.00 0.00 1,750,000.00 4,834.81 0.00 B-5 0.00 0.00 1,400,000.00 3,867.85 0.00 B-6 0.00 0.00 3,150,069.00 8,702.85 0.00 A-R 0.00 0.00 0.00 489.45 0.00 ------------- ---- -------------- ------------- ---- Totals 13,824,989.58 0.00 580,007,570.53 15,466,149.47 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 671,998,000.00 565,832,491.11 0.00 13,824,989.58 0.00 X-1 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 X-B 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 B-2 7,000,000.00 7,000,000.00 0.00 0.00 0.00 B-3 3,150,000.00 3,150,000.00 0.00 0.00 0.00 B-4 1,750,000.00 1,750,000.00 0.00 0.00 0.00 B-5 1,400,000.00 1,400,000.00 0.00 0.00 0.00 B-6 3,150,069.00 3,150,069.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- Totals 699,998,169.00 593,832,560.11 0.00 13,824,989.58 0.00 ============== ============== ==== ============= ====
Total Ending Ending Realized Principal Certificate Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ------ -------- ------------- -------------- ----------- --------------- A 0.00 13,824,989.58 552,007,501.53 0.82144218 13,824,989.58 X-1 0.00 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 11,550,000.00 1.00000000 0.00 B-2 0.00 0.00 7,000,000.00 1.00000000 0.00 B-3 0.00 0.00 3,150,000.00 1.00000000 0.00 B-4 0.00 0.00 1,750,000.00 1.00000000 0.00 B-5 0.00 0.00 1,400,000.00 1.00000000 0.00 B-6 0.00 0.00 3,150,069.00 1.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 ---- ------------- -------------- ---------- ------------- Totals 0.00 13,824,989.58 580,007,570.53 0.82858441 13,824,989.58 ==== ============= ============== ========== =============
(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 671,998,000.00 842.01514158 0.00000000 20.57296239 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 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 (1) Reduction Balance Percentage Distribution - ------ ---------- ----------- ------------- ----------- --------------- A 0.00000000 20.57296239 821.44217919 0.82144218 20.57296239 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 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 671,998,000.00 2.19125% 565,832,491.11 1,033,233.71 0.00 0.00 X-1 0.00 0.80000% 460,867,657.98 307,245.11 0.00 0.00 X-2 0.00 0.47245% 565,832,491.11 222,774.38 0.00 0.00 X-B 0.00 0.25236% 18,550,000.00 3,901.00 0.00 0.00 B-1 11,550,000.00 2.91000% 11,550,000.00 28,008.75 0.00 0.00 B-2 7,000,000.00 3.39000% 7,000,000.00 19,775.00 0.00 0.00 B-3 3,150,000.00 3.31530% 3,150,000.00 8,702.66 0.00 0.00 B-4 1,750,000.00 3.31530% 1,750,000.00 4,834.81 0.00 0.00 B-5 1,400,000.00 3.31530% 1,400,000.00 3,867.85 0.00 0.00 B-6 3,150,069.00 3.31530% 3,150,069.00 8,702.85 0.00 0.00 A-R 100.00 2.66825% 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- Totals 699,998,169.00 1,641,046.12 0.00 0.00 ============== ============ ==== ====
Non- Remaining Ending Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - ------- --------- -------- ------------ --------- -------------- A 0.00 0.00 1,033,233.70 0.00 552,007,501.53 X-1 0.00 0.00 307,272.14 0.00 443,629,270.58 X-2 0.00 0.00 222,801.42 0.00 552,007,501.53 X-B 0.00 0.00 3,471.26 0.00 18,550,000.00 B-1 0.00 0.00 28,008.75 0.00 11,550,000.00 B-2 0.00 0.00 19,775.00 0.00 7,000,000.00 B-3 0.00 0.00 8,702.66 0.00 3,150,000.00 B-4 0.00 0.00 4,834.81 0.00 1,750,000.00 B-5 0.00 0.00 3,867.85 0.00 1,400,000.00 B-6 0.00 0.00 8,702.85 0.00 3,150,069.00 A-R 0.00 0.00 489.45 0.00 0.00 ---- ---- ------------ ---- Totals 0.00 0.00 1,641,159.89 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 Unpaid Current Class Original Face Certificate Certificate/ Current Accrued Interest Interest (5) Amount Rate Notional Balance Interest Shortfall Shortfall - ----- -------------- ----------- ---------------- --------------- ---------- ---------- A 671,998,000.00 2.19125% 842.01514158 1.53755474 0.00000000 0.00000000 X-1 0.00 0.80000% 685.81700835 0.45721135 0.00000000 0.00000000 X-2 0.00 0.47245% 842.01514158 0.33151048 0.00000000 0.00000000 X-B 0.00 0.25236% 1000.00000000 0.21029650 0.00000000 0.00000000 B-1 11,550,000.00 2.91000% 1000.00000000 2.42500000 0.00000000 0.00000000 B-2 7,000,000.00 3.39000% 1000.00000000 2.82500000 0.00000000 0.00000000 B-3 3,150,000.00 3.31530% 1000.00000000 2.76274921 0.00000000 0.00000000 B-4 1,750,000.00 3.31530% 1000.00000000 2.76274857 0.00000000 0.00000000 B-5 1,400,000.00 3.31530% 1000.00000000 2.76275000 0.00000000 0.00000000 B-6 3,150,069.00 3.31530% 1000.00000000 2.76274901 0.00000000 0.00000000 A-R 100.00 2.66825% 0.00000000 0.00000000 0.00000000 0.00000000
Non- Remaining Supported Unpaid Class Interest Realized Total Interest Interest Ending Certificate/ (5) Shortfall Loss (6) Distribution Shortfall Notational Balance - ----- ---------- ---------- -------------- ---------- ------------------- A 0.00000000 0.00000000 1.53755472 0.00000000 821.44217919 X-1 0.00000000 0.00000000 0.45725157 0.00000000 660.16456981 X-2 0.00000000 0.00000000 0.33155072 0.00000000 821.44217919 X-B 0.00000000 0.00000000 0.18712992 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 2.42500000 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.82500000 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.76274921 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.76274857 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.76275000 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.76274901 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 4894.50000000 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 15,670,767.58 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 13,575.77 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 15,684,343.35 ============= Withdrawals Reimbursement for Servicer Advances 26,481.93 Payment of Service Fee 191,711.95 Payment of Interest and Principal 15,466,149.47 ------------- Total Withdrawals (Pool Distribution Amount) 15,684,343.35 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 187,009.36 Master Servicing Fee 4,702.59 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 191,711.95 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ --------- ----------- -------- -------- Class X-1 Sub Account 4,500.00 27.04 27.04 4,500.00 Class X-2 Sub Account 4,500.00 27.04 27.04 4,500.00 Class X-B Sub Account 1,000.00 441.77 441.77 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 13 4,177,182.29 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 383,965.11 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 182,400.00 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 -- ------------ -- ---- -- ---- 16 4,743,547.40 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 13 4,177,182.29 60 Days 0 0.00 60 Days 2 383,965.11 90 Days 0 0.00 90 Days 1 182,400.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -- ---- -- ------------ 0 0.00 16 4,743,547.40 == ==== == ============
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 0.749712% 0.719972% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.115340% 0.066180% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.057670% 0.031438% 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% -------- -------- -------- -------- -------- -------- 0.922722% 0.817590% 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 0.749712% 0.719972% 60 Days 0.000000% 0.000000% 60 Days 0.115340% 0.066180% 90 Days 0.000000% 0.000000% 90 Days 0.057670% 0.031438% 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% 0.922722% 0.817590% ======== ======== ======== ========
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 13,575.77
Original $ Original% Current $ Current% Current Class% Prepayment% ------------- ---------- ------------- ----------- -------------- ----------- Class A 28,000,069.00 4.00002032% 28,000,069.00 4.82606099% 95.143404% 0.000000% Class X-1 28,000,069.00 4.00002032% 28,000,069.00 4.82606099% 0.000000% 0.000000% Class X-2 28,000,069.00 4.00002032% 28,000,069.00 4.82606099% 0.000000% 0.000000% Class B-1 16,450,069.00 2.35001600% 16,450,069.00 2.83531574% 1.990745% 41.249898% Class B-2 9,450,069.00 1.35001339% 9,450,069.00 1.62880364% 1.206512% 24.999938% Class B-3 6,300,069.00 0.90001221% 6,300,069.00 1.08587294% 0.542931% 11.249972% Class B-4 4,550,069.00 0.65001156% 4,550,069.00 0.78424487% 0.301628% 6.249985% Class B-5 3,150,069.00 0.45001103% 3,150,069.00 0.54294242% 0.241302% 4.999988% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.542942% 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 3.702589% Weighted Average Net Coupon 3.324799% Weighted Average Pass-Through Rate 3.315299% Weighted Average Maturity (Stepdown Calculation) 334 Beginning Scheduled Collateral Loan Count 1,765 Number of Loans Paid in Full 31 Ending Scheduled Collateral Loan Count 1,734 Beginning Scheduled Collateral Balance 594,009,720.92 Ending Scheduled Collateral Balance 580,184,731.34 Ending Actual Collateral Balance at 31-Dec-2004 580,186,552.71 Monthly P&I Constant 1,832,811.76 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 15,392,143.77 Ending Scheduled Balance for Premium Loans 580,184,731.34 Scheduled Principal 0.00 Unscheduled Principal 13,824,989.58
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 67,742,857.19 Six-Month Libor Loan Balance 512,441,874.15 Prorata Senior Percentage 95.265436% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%