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 the November 30, 2004 record date and December 20, 2004 distribution date. The statement details the amounts distributed to each class of certificates, the remaining balances, and notes that all calculations are made in accordance with the Pooling and Servicing Agreement. No realized losses are reported for this period.

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EX-10.1 2 f04403dexv10w1.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 2004-3 RECORD DATE: NOVEMBER 30, 2004 DISTRIBUTION DATE: DECEMBER 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Pass- Beginning Current Ending Cumulative Class Through Certificate Interest Principal Realized Certificate Total Realized Class CUSIP Description Rate Balance Distribution Distribution Loss Balance Distribution Loss - ------------------------------------------------------------------------------------------------------------------------------------ A 81744FAZ0 SEN 2.33000% 777,696,109.15 1,510,026.62 15,749,566.36 0.00 761,946,542.79 17,259,592.98 0.00 M-1 81744FBA4 SUB 2.64000% 13,800,000.00 30,360.00 0.00 0.00 13,800,000.00 30,360.00 0.00 M-2 81744FBB2 SUB 3.04000% 9,200,000.00 23,306.67 0.00 0.00 9,200,000.00 23,306.67 0.00 M-3 81744FBC0 SUB 3.44402% 2,300,000.00 6,601.04 0.00 0.00 2,300,000.00 6,601.04 0.00 X 81744FBD8 IO 0.00000% 0.00 747,518.81 0.00 0.00 0.00 747,518.81 0.00 R 81744FBE6 RES 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ Totals 802,996,109.15 2,317,813.14 15,749,566.36 0.00 787,246,542.79 18,067,379.50 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 Class Amount Balance Distribution Distribution Accretion Loss (1) - ---------------------------------------------------------------------------------------- A 894,673,000.00 777,696,109.15 0.00 15,749,566.36 0.00 0.00 M-1 13,800,000.00 13,800,000.00 0.00 0.00 0.00 0.00 M-2 9,200,000.00 9,200,000.00 0.00 0.00 0.00 0.00 M-3 2,300,000.00 2,300,000.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------- Totals 919,973,000.00 802,996,109.15 0.00 15,749,566.36 0.00 0.00 - ---------------------------------------------------------------------------------------- Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ------------------------------------------------------------------- A 15,749,566.36 761,946,542.79 0.85164808 15,749,566.36 M-1 0.00 13,800,000.00 1.00000000 0.00 M-2 0.00 9,200,000.00 1.00000000 0.00 M-3 0.00 2,300,000.00 1.00000000 0.00 X 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 - ------------------------------------------------------------------- Totals 15,749,566.36 787,246,542.79 0.85572788 15,749,566.36 - -------------------------------------------------------------------
(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 894,673,000.00 869.25179272 0.00000000 17.60371260 0.00000000 0.00000000 M-1 13,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-2 9,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-3 2,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - ---------------------------------------------------------------------------------------- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ------------------------------------------------------------------------------- A 17.60371260 851.64808013 0.85164808 17.630371260 M-1 0.00000000 1000.00000000 1.00000000 0.00000000 M-2 0.00000000 1000.00000000 1.00000000 0.00000000 M-3 0.00000000 1000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 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 Non- Current Certificate/ Current Unpaid Current Supported Original Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - -------------------------------------------------------------------------------------------------------------- A 894,673,000.00 2.33000% 777,696,109.15 1,510,026.61 0.00 0.00 0.00 0.00 M-1 13,800,000.00 2.64000% 13,800,000.00 30,360.00 0.00 0.00 0.00 0.00 M-2 9,200,000.00 3.04000% 9,200,000.00 23,306.67 0.00 0.00 0.00 0.00 M-3 2,300,000.00 3.44402% 2,300,000.00 6,601.04 0.00 0.00 0.00 0.00 X 0.00 0.00000% 807,595,977.12 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------------------------- Totals 919,973,000.00 1,570,294.32 0.00 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------------------------------------------------- A 1,510,026.62 0.00 761,946,542.79 M-1 30,360.00 0.00 13,800,000.00 M-2 23,306.67 0.00 9,200,000.00 M-3 6,601.04 0.00 2,300,000.00 X 747,518.81 0.00 791,846,410.76 R 0.00 0.00 0.00 - ------------------------------------------------- Totals 2,317,813.14 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 Interest Interest (5) Amount Rate Notional Balance Accrued Interest Shortfall Shortfall - --------- -------------- ----------- ---------------- ---------------- ----------- ---------- A 894,673,000.00 2.33000% 869.25179272 1.68779723 0.00000000 0.00000000 M-1 13,800,000.00 2.64000% 1000.00000000 2.20000000 0.00000000 0.00000000 M-2 9,200,000.00 3.04000% 1000.00000000 2.53333370 0.00000000 0.00000000 M-3 2,300,000.00 3.44402% 1000.00000000 2.87001739 0.00000000 0.00000000 X 0.00 0.00000% 877.84691034 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 0.00000000 0.00000000 1.68779724 0.00000000 851.64808013 M-1 0.00000000 0.00000000 2.20000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.53333370 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.87001739 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.81254377 0.00000000 860.72732510 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 18,345,566.12 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 37,687.64 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 18,383,253.76 Withdrawals Reimbursement for Servicer Advances 58,977.60 Payment of Service Fee 256,896.67 Payment of Interest and Principal 18,067,379.49 ------------- Total Withdrawals (Pool Distribution Amount) 18,383,253.76 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 252,522.18 Master Servicing Fee 4,374.49 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 256,896.67 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ --------- ----------- -------- --------- Reserve Fund 10,000.00 0.00 0.00 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 43 12,221,625.83 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 52,392.62 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 2 375,393.54 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -- ------------- - ---------- - ---- 46 12,649,411.99 1 124,570.47 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 0.040000% 0.015732% 0-29 Days 0.000000% 0.000000% 30 Days 1.720000% 1.543430% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.040000% 0.006616% 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 0.080000% 0.047407% 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% -------- -------- -------- -------- -------- -------- 1.840000% 1.597454% 0.040000% 0.015732% 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 1 124,570.47 30 Days 0 0.00 30 Days 43 12,221,625.83 60 Days 0 0.00 60 Days 1 52,392.62 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 2 375,393.54 180+ Days 0 0.00 180+ Days 0 0.00 - ---- -- ------------- 0 0.00 47 12,773,982.46 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.040000% 0.015732% 30 Days 0.000000% 0.000000% 30 Days 1.720000% 1.543430% 60 Days 0.000000% 0.000000% 60 Days 0.040000% 0.006616% 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 0.080000% 0.047407% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- --------- -------- 0.000000% 0.000000% 1.880000% 1.613185%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 37,687.64
COLLATERAL STATEMENT Collateral Description Mixed Arm Weighted Average Gross Coupon 3.826637% Weighted Average Net Coupon 3.451416% Weighted Average Pass-Through Rate 3.444019% Weighted Average Maturity (Stepdown Calculation) 337 Beginning Scheduled Collateral Loan Count 2,542 Number of Loans Paid in Full 42 Ending Scheduled Collateral Loan Count 2,500 Beginning Scheduled Collateral Balance 807,595,977.12 Ending Scheduled Collateral Balance 791,846,410.76 Ending Actual Collateral Balance at 30-Nov-2004 791,848,464.08 Monthly P&I Constant 2,573,313.83 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 791,846,410.76 Scheduled Principal 0.00 Unscheduled Principal 15,749,566.36 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 747,518.82
MISCELLANEOUS REPORTING Applied Loss Amount 0.00 1 Month LIBOR Loan Balance 79,491,825.59 6 Month LIBOR Loan Balance 712,354,585.17 M-1 Target Amount 764,131,786.38 M-2 Target Amount 779,968,714.60 M-3 Target Amount 783,927,946.65 Senior Target Amount 740,376,394.06 Step Down Date Reached? No Trigger Event? No