Wells Fargo Bank Minnesota, N.A. SMT Series 2004-2 Certificateholder Distribution Statement (October 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 details the interest and principal payments made to certificateholders as of the October 29, 2004 record date and the November 22, 2004 distribution date. The statement lists the classes of certificates, their balances, interest rates, and distributions, confirming that all payments were made according to the Pooling and Servicing Agreement. No realized losses are reported for this period.

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EX-10.1 2 f03810bexv10w1.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: OCTOBER 29, 2004 DISTRIBUTION DATE: NOVEMBER 22, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Current Ending Cumulative Class Pass-Through Certificate Interest Principal Realized Certificate Total Realized Class CUSIP Description Rate Balance Distribution Distribution Loss Balance Distribution Loss - ------------------------------------------------------------------------------------------------------------------------------------ A 81744FAN7 SEN 2.19125% 590,012,796.53 1,077,387.96 12,632,821.73 0.00 577,379,974.80 13,710,209.69 0.00 X-1 81744FAP2 IO 0.80000% 0.00 331,505.13 0.00 0.00 0.00 331,505.13 0.00 X-2 81744FAQ0 IO 0.36422% 0.00 179,081.30 0.00 0.00 0.00 179,081.30 0.00 X-B 81744FAR8 IO 0.63858% 0.00 9,871.32 0.00 0.00 0.00 9,871.32 0.00 B-1 81744FAT4 SUB 2.41000% 11,550,000.00 23,196.25 0.00 0.00 11,550,000.00 23,196.25 0.00 B-2 81744FAU1 SUB 2.89000% 7,000,000.00 16,858.33 0.00 0.00 7,000,000.00 16,858.33 0.00 B-3 81744FAV9 SUB 3.22971% 3,150,000.00 8,477.98 0.00 0.00 3,150,000.00 8,477.98 0.00 B-4 81744FAW7 SUB 3.22971% 1,750,000.00 4,709.99 0.00 0.00 1,750,000.00 4,709.99 0.00 B-5 81744FAX5 SUB 3.22971% 1,400,000.00 3,767.99 0.00 0.00 1,400,000.00 3,767.99 0.00 B-6 81744FAY6 SUB 3.22971% 3,150,069.00 8,478.17 0.00 0.00 3,150,069.00 8,478.17 0.00 A-R 81744FAS6 RES 2.67054% 0.00 476.81 0.00 0.00 0.00 476.81 0.00 --------------------------------------------------------------------------------------- Totals 618,012,865.53 1,663,811.23 12,632,821.73 0.00 605,380,043.80 14,296,632.96 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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - ---------------------------------------------------------------------------------------------------------------------- A 671,998,000.00 590,012,796.53 0.00 12,632,821.73 0.00 0.00 12,632,821.73 X-1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 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 0.00 0.00 B-2 7,000,000.00 7,000,000.00 0.00 0.00 0.00 0.00 0.00 B-3 3,150,000.00 3,150,000.00 0.00 0.00 0.00 0.00 0.00 B-4 1,750,000.00 1,750,000.00 0.00 0.00 0.00 0.00 0.00 B-5 1,400,000.00 1,400,000.00 0.00 0.00 0.00 0.00 0.00 B-6 3,150,069.00 3,150,069.00 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------------------ Totals 699,998,169.00 618,012,865.53 0.00 12,632,821.73 0.00 0.00 12,632,821.73 ------------------------------------------------------------------------------------------------------------ Ending Ending Total Certificate Certificate Principal Class Balance Percentage Distribution - -------------------------------------------------------- A 577,379,974.80 0.85919895 12,632,821.73 X-1 0.00 0.00000000 0.00 X-2 0.00 0.00000000 0.00 X-B 0.00 0.00000000 0.00 B-1 11,550,000.00 1.00000000 0.00 B-2 7,000,000.00 1.00000000 0.00 B-3 3,150,000.00 1.00000000 0.00 B-4 1,750,000.00 1.00000000 0.00 B-5 1,400,000.00 1.00000000 0.00 B-6 3,150,069.00 1.00000000 0.00 A-R 0.00 0.00000000 0.00 ---------------------------------------------- Totals 605,380,043.80 0.86483090 12,632,821.73 ----------------------------------------------
(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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction - ----------------------------------------------------------------------------------------------------------------------- A 671,998,000.00 877.99784602 0.00000000 18.79889781 0.00000000 0.00000000 18.79889781 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Total Certificate Certificate Principal Class Balance Percentage Distribution - ----------------------------------------------------------- A 859.19894821 0.85919895 18.79889781 X-1 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 0.00000000 B-2 1000.00000000 1.00000000 0.00000000 B-3 1000.00000000 1.00000000 0.00000000 B-4 1000.00000000 1.00000000 0.00000000 B-5 1000.00000000 1.00000000 0.00000000 B-6 1000.00000000 1.00000000 0.00000000 A-R 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 Non-Supported Original Face Certificate Notional Accrued Interest Interest Interest Realized Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ---------------------------------------------------------------------------------------------------------------------------------- A 671,998,000.00 2.19125% 590,012,796.53 1,077,387.95 0.00 0.00 (0.01) 0.00 X-1 0.00 0.80000% 497,257,688.40 331,505.13 0.00 0.00 0.00 0.00 X-2 0.00 0.36422% 590,012,796.53 179,081.30 0.00 0.00 0.00 0.00 X-B 0.00 0.63858% 18,550,000.00 9,871.32 0.00 0.00 0.00 0.00 B-1 11,550,000.00 2.41000% 11,550,000.00 23,196.25 0.00 0.00 0.00 0.00 B-2 7,000,000.00 2.89000% 7,000,000.00 16,858.33 0.00 0.00 0.00 0.00 B-3 3,150,000.00 3.22971% 3,150,000.00 8,477.98 0.00 0.00 0.00 0.00 B-4 1,750,000.00 3.22971% 1,750,000.00 4,709.99 0.00 0.00 0.00 0.00 B-5 1,400,000.00 3.22971% 1,400,000.00 3,767.99 0.00 0.00 0.00 0.00 B-6 3,150,069.00 3.22971% 3,150,069.00 8,478.17 0.00 0.00 0.00 0.00 A-R 100.00 2.67054% 0.00 0.00 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------------------------ Totals 699,998,169.00 1,663,334.41 0.00 0.00 (0.01) 0.00 ------------------------------------------------------------------------------------------------------------------ Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ---------------------------------------------------------- A 1,077,387.96 0.00 577,379,974.80 X-1 331,505.13 0.00 478,736,120.69 X-2 179,081.30 0.00 577,379,974.80 X-B 9,871.32 0.00 18,550,000.00 B-1 23,196.25 0.00 11,550,000.00 B-2 16,858.33 0.00 7,000,000.00 B-3 8,477.98 0.00 3,150,000.00 B-4 4,709.99 0.00 1,750,000.00 B-5 3,767.99 0.00 1,400,000.00 B-6 8,478.17 0.00 3,150,069.00 A-R 476.81 0.00 0.00 --------------------------------------------- Totals 1,663,811.23 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 Non-Supported Class (5) Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ------------------------------------------------------------------------------------------------------------------------------------ A 671,998,000.00 2.19125% 877.99784602 1.60326065 0.00000000 0.00000000 (0.00000001) 0.00000000 X-1 0.00 0.80000% 739.96900050 0.49331267 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.36422% 877.99784602 0.26649082 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.63858% 1000.00000000 0.53214663 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,550,000.00 2.41000% 1000.00000000 2.00833333 0.00000000 0.00000000 0.00000000 0.00000000 B-2 7,000,000.00 2.89000% 1000.00000000 2.40833286 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,150,000.00 3.22971% 1000.00000000 2.69142222 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 3.22971% 1000.00000000 2.69142286 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,400,000.00 3.22971% 1000.00000000 2.69142143 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,150,069.00 3.22971% 1000.00000000 2.69142358 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 2.67054% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Class (5) Total Interest Interest Ending Certificate/ Distribution Shortfall Notational Balance - -------------------------------------------------------------- A 1.60326066 0.00000000 859.19894821 X-1 0.49331267 0.00000000 712.40706176 X-2 0.26649082 0.00000000 859.19894821 X-B 0.53214663 0.00000000 1000.00000000 B-1 2.00833333 0.00000000 1000.00000000 B-2 2.40833286 0.00000000 1000.00000000 B-3 2.69142222 0.00000000 1000.00000000 B-4 2.69142286 0.00000000 1000.00000000 B-5 2.69142143 0.00000000 1000.00000000 B-6 2.69142358 0.00000000 1000.00000000 A-R 4768.10000000 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 14,492,670.04 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 28,691.91 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 14,521,361.95 Withdrawals Reimbursement for Servicer Advances 25,268.71 Payment of Service Fee 199,460.26 Payment of Interest and Principal 14,296,632.98 ------------- Total Withdrawals (Pool Distribution Amount) 14,521,361.95 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 194,566.27 Master Servicing Fee 4,893.99 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 199,460.26 ==========
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 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 28 8,981,046.20 60 Days 3 605,522.71 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 1 506,400.00 -- ------------- 32 10,092,968.91
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.559889% 1.483092% 60 Days 0.167131% 0.099993% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.055710% 0.083625% -------- -------- 1,782730% 1.666710%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 28 8,981,046.20 60 Days 3 605,522.71 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 1 506,400.00 -- ------------- 32 10,092,968.91
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.559889% 1.483092% 60 Days 0.167131% 0.099993% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.055710% 0.083625% -------- -------- 1,782730% 1.666710%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 28,691.91
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ----------- --------------- ------------ Class A 28,000,069.00 4.00002032% 28,000,069.00 4.62385201% 95.346892% 0.000000% Class X-1 28,000,069.00 4.00002032% 28,000,069.00 4.62385201% 0.000000% 0.000000% Class X-2 28,000,069.00 4.00002032% 28,000,069.00 4.62385201% 0.000000% 0.000000% Class B-1 16,450,069.00 2.35001600% 16,450,069.00 2.71651776% 1.907334% 41.249898% Class B-2 9,450,069.00 1.35001339% 9,450,069.00 1.56055760% 1.155960% 24.999938% Class B-3 6,300,069.00 0.90001221% 6,300,069.00 1.04037553% 0.520182% 11.249972% Class B-4 4,550,069.00 0.65001156% 4,550,069.00 0.75138550% 0.288990% 6.249985% Class B-5 3,150,069.00 0.45001103% 3,150,069.00 0.52019346% 0.231192% 4.999988% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.520193% 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 3.616891% Weighted Average Net Coupon 3.239100% Weighted Average Pass-Through Rate 3.229708% Weighted Average Maturity (Stepdown Calculation) 336 Beginning Scheduled Collateral Loan Count 1,823 Number of Loans Paid in Full 28 Ending Scheduled Collateral Loan Count 1,795 Beginning Scheduled Collateral Balance 618,012,865.60 Ending Scheduled Collateral Balance 605,557,204.61 Ending Actual Collateral Balance at 29-Oct-2004 605,562,227.76 Monthly P&I Constant 1,863,271.52 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 14,230,667.43 Ending Scheduled Balance for Premium Loans 605,557,204.61 Scheduled Principal 0.00 Unscheduled Principal 12,632,821.73
MISCELLANEOUS REPORTING One-Month Libor Loan Balance 71,501,772.19 Six-Month Libor Loan Balance 534,055,432.42 Prorata Senior Percentage 95.441979% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%