Wells Fargo Bank Minnesota, N.A. SMT Series 2004-3 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 2004-3 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 certificate, the remaining balances, and any realized losses. It also provides an account of deposits and withdrawals related to the trust, ensuring transparency for investors regarding the trust's financial activity for the period.

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EX-10.1 2 f05544dexv10w1.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 ###-###-#### FAX: (301 ###-###-#### SMT SERIES 2004-3 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 81744FAZ0 SEN 2.33000% 761,946,542.79 1,479,446.21 M-1 81744FBA4 SUB 2.91000% 13,800,000.00 33,465.00 M-2 81744FBB2 SUB 3.31000% 9,200,000.00 23,376.67 M-3 81744FBC0 SUB 3.47875% 2,300,000.00 6,667.61 X 81744FBD8 IO 0.00000% 0.00 750,635.96 R 81744FBE6 RES 0.00000% 0.00 0.00 -------------- ------------ Totals 787,246,542.79 2,295,591.45 ============== ============
Principal Current Ending Certificate Total Cumulative Distribution Realized Loss Balance Distribution Realized Loss - ------------- ------------- ------------------ ------------- ------------- 24,292,230.57 0.00 737,654,312.22 25,771,676.78 0.00 0.00 0.00 13,800,000.00 33,465.00 0.00 0.00 0.00 9,200,000.00 25,376.67 0.00 0.00 0.00 2,300,000.00 6,667.61 0.00 0.00 0.00 0.00 750,635.96 0.00 0.00 0.00 0.00 0.00 0.00 - ------------- ---- -------------- ------------- ---- 24,292,230.57 0.00 762,954,312.22 26,587,822.02 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 894,673,000.00 761,946,542.79 0.00 24,292,230.57 0.00 M-1 13,800,000.00 13,800,000.00 0.00 0.00 0.00 M-2 9,200,000.00 9,200,000.00 0.00 0.00 0.00 M-3 2,300,000.00 2,300,000.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- Totals 919,973,000.00 787,246,542.79 0.00 24,292,230.57 0.00 ============== ============== ==== ============= ====
Realized Total Principal Ending Certificate Ending Certificate Total Principal Loss (1) Reduction Balance Percentage Distribution - -------- --------------- ------------------ ------------------ --------------- 0.00 24,292,230.57 737,654,312.22 0.82449600 24,292,230.57 0.00 0.00 13,800,000.00 1.00000000 0.00 0.00 0.00 9,200,000.00 1.00000000 0.00 0.00 0.00 2,300,000.00 1.00000000 0.00 0.00 0.00 0.00 0.00000000 0.00 0.00 0.00 0.00 0.00000000 0.00 ---- ------------- -------------- ---------- ------------- 0.00 24,292,230.57 762,954,312.22 0.82932250 24,292,230.57 ==== ============= ============== ========== =============
(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 894,673,000.00 851.64808013 0.00000000 27.15207743 0.00000000 M-1 13,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
Realized Total Principal Ending Certificate Ending Certificate Total Principal Class Loss (3) Reduction Balance Percentage Distribution - ----- ---------- --------------- ------------------ ------------------ --------------- A 0.00000000 27.15207743 824.49600270 0.82449600 27.15207743 M-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 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 Certificate/ Current Unpaid Original Face Current Notional Accrued Interest Class Amount Certificate Rate Balance Interest Shortfall - ------ -------------- ---------------- -------------- ------------ ---------- A 894,673,000.00 2.33000% 761,946,542.79 1,479,446.20 0.00 M-1 13,800,000.00 2.91000% 13,800,000.00 33,465.00 0.00 M-2 9,200,000.00 3.31000% 9,200,000.00 25,376.67 0.00 M-3 2,300,000.00 3.47875% 2,300,000.00 6,667.61 0.00 X 0.00 0.00000% 791,846,410.76 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 -------------- ------------ ---- Totals 919,973,000.00 1,544,955.48 0.00 ============== ============ ====
Non- Remaining Ending Current Supported Unpaid Certificate/ Interest Interest Realized Total Interest Interest Notational Shortfall Shortfall Loss (4) Distribution Shortfall Balance - --------- --------- -------- -------------- --------- -------------- 0.00 (0.01) 0.00 1,479,446.21 0.00 737,654,312.22 0.00 0.00 0.00 33,465.00 0.00 13,800,000.00 0.00 0.00 0.00 25,376.67 0.00 9,200,000.00 0.00 0.00 0.00 6,667.61 0.00 2,300,000.00 0.00 0.00 0.00 750,635.96 0.00 767,554,180.19 0.00 0.00 0.00 0.00 0.00 0.00 ---- ----- ---- ------------ ---- 0.00 (0.01) 0.00 2,295,591.45 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 Class Original Face Certificate Certificate/ Accrued Interest Interest (5) Amount Rate Notional Balance Interest Shortfall Shortfall - ----- -------------- ----------- ---------------- ---------- ---------- ---------- A 894,673,000.00 2.33000% 851.64808013 1.65361668 0.00000000 0.00000000 M-1 13,800,000.00 2.91000% 1000.00000000 2.42500000 0.00000000 0.00000000 M-2 9,200,000.00 3.31000% 1000.00000000 2.75833370 0.00000000 0.00000000 M-3 2,300,000.00 3.47875% 1000.00000000 2.89896087 0.00000000 0.00000000 X 0.00 0.00000% 860.72732510 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 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 (0.00000001) 0.00000000 1.65361670 0.00000000 824.49600270 M-1 0.00000000 0.00000000 2.42500000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.75833370 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.89896087 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.81593207 0.00000000 834.32196876 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 26,856,257.54 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 21,141.28 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 26,877,398.82 ============= Withdrawals Reimbursement for Servicer Advances 37,687.64 Payment of Service Fee 251,889.16 Payment of Interest and Principal 26,587,822.02 ------------- Total Withdrawals (Pool Distribution Amount) 26,877,398.82 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 (0.01) =====
SERVICING FEES Gross Servicing Fee 247,599.98 Master Servicing Fee 4,289.18 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 251,889.16 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ --------- ----------- -------- --------- Reserve Fund 10,000.00 60.09 60.09 10,000.00
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 1 124,570.47 0-29 Days 0 0.00 30 Days 24 6,496,515.04 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 411,600.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 52,392.62 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 2 375,393.54 180+ Days 0 0.00 180+ Days 0 0.00 -- ------------ -- ---------- -- ---- 29 7,335,901.20 1 124,570.47 0 0.00 == ============ == ========== == ====
REO TOTAL - -------------------------------- ----------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- ------------ 0-29 Days 0 0.00 0-29 Days 1 124,570.47 30 Days 0 0.00 30 Days 24 6,496,515.04 60 Days 0 0.00 60 Days 2 411,600.00 90 Days 0 0.00 90 Days 1 52,392.62 120 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 2 375,393.54 -- ---- --- ------------ 0 0.00 30 7,460,471.67 == ==== == ============
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 0.041068% 0.016229% 0-29 Days 0.000000% 0.000000% 30 Days 0.985626% 0.846389% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.082136% 0.053625% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.041068% 0.006826% 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 0.082136% 0.048908% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- --------- --------- -------- 1.190965% 0.955747% 0.041068% 0.016229% 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 0.041068% 0.016229% 30 Days 0.000000% 0.000000% 30 Days 0.985626% 0.846389% 60 Days 0.000000% 0.000000% 60 Days 0.082136% 0.053625% 90 Days 0.000000% 0.000000% 90 Days 0.041068% 0.006826% 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 0.082136% 0.048908% -------- -------- -------- -------- 0.000000% 0.000000% 1.232033% 0.971977% ======== ======== ======== ========
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 21,141.28
COLLATERAL STATEMENT
Collateral Description Mixed Arm - ---------------------- -------------- Weighted Average Gross Coupon 3.861392% Weighted Average Net Coupon 3.486168% Weighted Average Pass-Through Rate 3.478752% Weighted Average Maturity (Stepdown Calculation) 336 Beginning Scheduled Collateral Loan Count 2,500 Number of Loans Paid in Full 65 Ending Scheduled Collateral Loan Count 2,435 Beginning Scheduled Collateral Balance 791,846,410.76 Ending Scheduled Collateral Balance 767,554,180.19 Ending Actual Collateral Balance at 31-Dec-2004 767,556,489.53 Monthly P&I Constant 2,548,024.49 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 767,554,180.19 Scheduled Principal 0.00 Unscheduled Principal 24,292,230.57 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 750,575.88
MISCELLANEOUS REPORTING Applied Loss Amount 0.00 1 Month LIBOR Loan Balance 78,359,821.18 6 Month LIBOR Loan Balance 689,194,359.01 M-1 Target Amount 740,689,783.88 M-2 Target Amount 756,040,867.49 M-3 Target Amount 759,878,638.39 Senior Target Amount 717,663,158.48 Step Down Date Reached? No Trigger Event? No