Certificateholder Distribution Summary for SMT Series 2004-1 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 2004-1, prepared by Wells Fargo Bank Minnesota, N.A. It details the principal and interest payments made to holders of various classes of certificates as of November 30, 2004, with distributions occurring on December 20, 2004. The summary includes beginning and ending balances, interest rates, and realized losses 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 f04403bexv10w1.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 2004-1 RECORD DATE: NOVEMBER 30, 2004 DISTRIBUTION DATE: DECEMBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass- Certificate Interest Class CUSIP Description Through Rate Balance Distribution - ------ --------- ----------- ------------ -------------- -------------- A 81744FAA5 SEN 2.19125% 527,666,329.05 963,540.70 X-1 81744FAB3 IO 0.78029% 0.00 268,382.69 X-2 81744FAC1 IO 0.16995% 0.00 74,730.19 X-B 81744FAD9 IO 0.17238% 0.00 1,118.77 B-1 81744FAG2 SUB 2.69000% 9,375,000.00 21,015.62 B-2 81744FAH0 SUB 3.19000% 5,937,000.00 15,782.52 B-3 81744FAJ6 SUB 2.97154% 3,437,000.00 8,511.00 B-4 81744FAK3 SUB 2.97154% 1,562,000.00 3,867.96 B-5 81744FAL1 SUB 2.97154% 937,000.00 2,320.28 B-6 81744FAM9 SUB 2.97154% 2,500,468.00 6,191.88 A-R 81744FAF4 RES 2.57152% 0.00 0.00 -------------- ------------ Totals 551,414,797.05 1,365,461.61 -------------- ------------ Ending Principal Current Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ------ ------------ ------------- -------------- ------------- ------------- A 9,012,644.70 0.00 518,653,684.35 9,976,185.40 0.00 X-1 0.00 0.00 0.00 268,382.69 0.00 X-2 0.00 0.00 0.00 74,730.19 0.00 X-B 0.00 0.00 0.00 1,118.77 0.00 B-1 0.00 0.00 9,375,000.00 21,015.62 0.00 B-2 0.00 0.00 5,937,000.00 15,782.52 0.00 B-3 0.00 0.00 3,437,000.00 8,511.00 0.00 B-4 0.00 0.00 1,562,000.00 3,867.96 0.00 B-5 0.00 0.00 937,000.00 2,320.28 0.00 B-6 0.00 0.00 2,500,468.00 6,191.88 0.00 A-R 0.00 0.00 0.00 0.00 0.00 ------------ ---- -------------- ------------- ---- Totals 9,012,644.70 0.00 542,402,152.35 10,378,106.31 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 601,250,000.00 527,666,329.05 1,061.29 9,011,583.41 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 9,375,000.00 9,375,000.00 0.00 0.00 0.00 B-2 5,937,000.00 5,937,000.00 0.00 0.00 0.00 B-3 3,437,000.00 3,437,000.00 0.00 0.00 0.00 B-4 1,562,000.00 1,562,000.00 0.00 0.00 0.00 B-5 937,000.00 937,000.00 0.00 0.00 0.00 B-6 2,500,468.00 2,500,468.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 -------------- -------------- -------- ------------ ---- Totals 624,998,568.00 551,414,797.05 1,061.29 9,011,583.41 0.00 -------------- -------------- -------- ------------ ---- Total Ending Ending Realized Principal Certificate Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ------ -------- ------------ -------------- ----------- --------------- A 0.00 9,012,644.70 518,653,684.35 0.86262567 9,012,644.70 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 9,375,000.00 1.00000000 0.00 B-2 0.00 0.00 5,937,000.00 1.00000000 0.00 B-3 0.00 0.00 3,437,000.00 1.00000000 0.00 B-4 0.00 0.00 1,562,000.00 1.00000000 0.00 B-5 0.00 0.00 937,000.00 1.00000000 0.00 B-6 0.00 0.00 2,500,468.00 1.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 ---- ------------ -------------- ---------- ------------ Totals 0.00 9,012,644.70 542,402,152.35 0.86784543 9,012,644.70 ---- ------------ -------------- ---------- ------------
(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 601,250,000.00 877.61551609 0.00176514 14.98808052 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 9,375,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 5,937,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 3,437,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,562,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 937,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 2,500,468.00 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 0.00000000 14.98984565 862.62567044 0.86262567 14.98984565 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 601,250,000.00 2.19125% 527,666,329.05 963,540.70 0.00 0.00 X-1 0.00 0.78029% 412,740,282.52 268,382.69 0.00 0.00 X-2 0.00 0.16995% 527,666,329.05 74,730.19 0.00 0.00 X-B 0.00 0.17238% 15,312,000.00 2,199.57 0.00 0.00 B-1 9,375,000.00 2.69000% 9,375,000.00 21,015.63 0.00 0.00 B-2 5,937,000.00 3.19000% 5,937,000.00 15,782.53 0.00 0.00 B-3 3,437,000.00 2.97154% 3,437,000.00 8,511.00 0.00 0.00 B-4 1,562,000.00 2.97154% 1,562,000.00 3,867.96 0.00 0.00 B-5 937,000.00 2.97154% 937,000.00 2,320.28 0.00 0.00 B-6 2,500,468.00 2.97154% 2,500,468.00 6,191.88 0.00 0.00 A-R 100.00 2.57152% 0.00 0.00 0.00 0.00 ------------ ------------ ---- ---- Totals 624,998,568.00 1,366,542.43 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 0.00 963,540.70 0.00 518,653,684.35 X-1 0.00 0.00 268,382.69 0.00 397,348,824.84 X-2 0.00 0.00 74,730.19 0.00 518,653,684.35 X-B 0.00 0.00 1,118.77 0.00 15,312,000.00 B-1 0.00 0.00 21,015.62 0.00 9,375,000.00 B-2 0.00 0.00 15,782.52 0.00 5,937,000.00 B-3 0.00 0.00 8,511.00 0.00 3,437,000.00 B-4 0.00 0.00 3,867.96 0.00 1,562,000.00 B-5 0.00 0.00 2,320.28 0.00 937,000.00 B-6 0.00 0.00 6,191.88 0.00 2,500,468.00 A-R 0.00 0.00 0.00 0.00 0.00 ---- ---- ------------ ---- Totals 0.00 0.00 1,365,461.61 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 601,250,000.00 2.19125% 877.61551609 1.60256249 0.00000000 0.00000000 0.00000000 0.00000000 X-1 0.00 0.78029% 686.47032436 0.44637454 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.16995% 877.61551609 0.12429138 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.17238% 1000.00000000 0.14365008 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,375,000.00 2.69000% 1000.00000000 2.24166720 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,937,000.00 3.19000% 1000.00000000 2.65833418 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,437,000.00 2.97154% 1000.00000000 2.47628746 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,562,000.00 2.97154% 1000.00000000 2.47628681 0.00000000 0.00000000 0.00000000 0.00000000 B-5 937,000.00 2.97154% 1000.00000000 2.47628602 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,500,468.00 2.97154% 1000.00000000 2.47628844 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.57152% 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 1.60256249 0.00000000 862.62567044 X-1 0.44637454 0.00000000 660.87122635 X-2 0.12429138 0.00000000 862.62567044 X-B 0.07306492 0.00000000 1000.00000000 B-1 2.24166613 0.00000000 1000.00000000 B-2 2.65833249 0.00000000 1000.00000000 B-3 2.47628746 0.00000000 1000.00000000 B-4 2.47628681 0.00000000 1000.00000000 B-5 2.47628602 0.00000000 1000.00000000 B-6 2.47628844 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 10,565,848.42 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 11,846.35 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 10,577,694.77 Withdrawals Reimbursement for Servicer Advances 22,103.58 Payment of Service Fee 177,484.87 Payment of Interest and Principal 10,378,106.32 ------------- Total Withdrawals (Pool Distribution Amount) 10,577,694.77 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 172,889.74 Master Servicing Fee 4,595.13 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 177,484.87 ==========
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 1,080.81 1,080.81 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 12 4,345,513.01 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 397,192.00 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 -- ------------ ---- ---- ---- ---- 14 4,742,705.01 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 0.757098% 0.801159% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.126183% 0.073228% 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% -------- -------- -------- -------- -------- -------- 0.883281% 0.874388% 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 12 4,345,513.01 60 Days 0 0.00 60 Days 2 397,192.00 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 14 4,742,705.01 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 0.757098% 0.801159% 60 Days 0.000000% 0.000000% 60 Days 0.126183% 0.073228% 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% 0.883281% 0.874388%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 11,846.35
Original $ Original % Current $ Current % Current Class % Prepayment % ---------- ---------- --------- --------- --------------- ------------ Class A 23,748,468.00 3.79976359% 23,748,468.00 4.37838749% 95.621612% 0.000000% Class X-1 23,748,468.00 3.79976359% 23,748,468.00 4.37838749% 0.000000% 0.000000% Class X-2 23,748,468.00 3.79976359% 23,748,468.00 4.37838749% 0.000000% 0.000000% Class B-1 14,373,468.00 2.29976015% 14,373,468.00 2.64996515% 1.728422% 39.476231% Class B-2 8,436,468.00 1.34983797% 8,436,468.00 1.55538984% 1.094575% 24.999507% Class B-3 4,999,468.00 0.79991671% 4,999,468.00 0.92172717% 0.633663% 14.472513% Class B-4 3,437,468.00 0.54999614% 3,437,468.00 0.63374896% 0.287978% 6.577266% Class B-5 2,500,468.00 0.40007580% 2,500,468.00 0.46099891% 0.172750% 3.945518% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.460999% 10.528965%
Please refer to the prospectus supplement for a full description of loss exposure COLLATERAL STATEMENT Collateral Description Mixed Arm Weighted Average Gross Coupon 3.357791% Weighted Average Net Coupon 2.981545% Weighted Average Pass-Through Rate 2.971545% Weighted Average Maturity (Stepdown Calculation) 324 Beginning Scheduled Collateral Loan Count 1,608 Number of Loans Paid in Full 23 Ending Scheduled Collateral Loan Count 1,585 Beginning Scheduled Collateral Balance 551,414,797.48 Ending Scheduled Collateral Balance 542,402,152.78 Ending Actual Collateral Balance at 30-Nov-2004 542,402,998.67 Monthly P&I Constant 1,544,007.79 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 10,321,497.86 Ending Scheduled Balance for Premium Loans 542,402,152.78 Scheduled Principal 1,061.29 Unscheduled Principal 9,011,583.41
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 88,926,708.13 Six-Month Libor Loan Balance 453,199,462.61 Prorata Senior Percentage 95.693175% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%