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 2004-5
RECORD DATE: OCTOBER 29, 2004
DISTRIBUTION DATE: NOVEMBER 22, 2004
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning
Class Certificate Pass- Certificate Interest
Class CUSIP Description Through Rate Balance Distribution
- ------ --------- ----------- ----------------- -------------- ------------
A-1 81744FBS5 SEN 3.17406% 512,011,162.04 1,354,293.89
A-2 81744FBT3 SEN 2.17000% 176,438,346.87 319,059.34
A-3 81744FCF2 SEN 1.86250% 71,195,403.25 110,501.20
X-1 81744FBU0 IO 0.80000% 0.00 144,068.29
X-2 81744FBV8 IO 0.31777% 0.00 65,576.53
X-B 81744FBX4 IO 0.61407% 0.00 11,960.52
B-1 81744FBZ9 SUB 2.39000% 14,874,000.00 29,624.05
B-2 81744FCA3 SUB 2.79000% 8,499,000.00 19,760.17
B-3 81744FCB1 SUB 3.14952% 4,674,000.00 12,267.37
B-4 81744FCC9 SUB 3.14952% 2,124,000.00 5,574.65
B-5 81744FCD7 SUB 3.14952% 2,124,000.00 5,574.65
B-6 81744FCE5 SUB 3.14952% 3,830,447.31 10,053.39
A-R 81744FBY2 RES 3.02344% 0.00 0.00
-------------- ------------
Totals 795,770,359.47 2,088,314.05
-------------- ------------
Principal Current Ending Certificate Total Cumulative
Class Distribution Realized Loss Balance Distribution Realized Loss
- ------ ------------- ------------- ------------------ ------------- -------------
A-1 15,913,369.43 0.00 496,097,792.61 17,267,663.32 0.00
A-2 2,874,331.14 0.00 173,564,015.73 3,193,390.48 0.00
A-3 1,159,833.84 0.00 70,035,569.41 1,270,335.04 0.00
X-1 0.00 0.00 0.00 144,068.29 0.00
X-2 0.00 0.00 0.00 65,576.53 0.00
X-B 0.00 0.00 0.00 11,960.52 0.00
B-1 0.00 0.00 14,874,000.00 29,624.05 0.00
B-2 0.00 0.00 8,499,000.00 19,760.17 0.00
B-3 0.00 0.00 4,674,000.00 12,267.37 0.00
B-4 0.00 0.00 2,124,000.00 5,574.65 0.00
B-5 0.00 0.00 2,124,000.00 5,574.65 0.00
B-6 0.00 0.00 3,830,447.31 10,053.39 0.00
A-R 0.00 0.00 0.00 0.00 0.00
------------- ---- -------------- ------------- ----
Totals 19,947,534.41 0.00 775,822,825.06 22,035,848.46 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-1 553,000,000.00 512,011,162.04 23,482.72 15,889,886.71 0.00 0.00
A-2 185,867,000.00 176,438,346.87 2,039.05 2,872,292.09 0.00 0.00
A-3 75,000,000.00 71,195,403.25 822.79 1,159,011.05 0.00 0.00
X-1 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
X-B 0.00 0.00 0.00 0.00 0.00 0.00
B-1 14,874,000.00 14,874,000.00 0.00 0.00 0.00 0.00
B-2 8,499,000.00 8,499,000.00 0.00 0.00 0.00 0.00
B-3 4,674,000.00 4,674,000.00 0.00 0.00 0.00 0.00
B-4 2,124,000.00 2,124,000.00 0.00 0.00 0.00 0.00
B-5 2,124,000.00 2,124,000.00 0.00 0.00 0.00 0.00
B-6 3,830,447.31 3,830,447.31 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- --------- ------------- ---- ----
Totals 849,992,547.31 795,770,359.47 26,344.56 19,921,189.85 0.00 0.00
-------------- -------------- --------- ------------- ---- ----
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ------ --------------- ------------------ ------------------ ---------------
A-1 15,913,369.43 496,097,792.61 0.89710270 15,913,369.43
A-2 2,874,331.14 173,564,015.73 0.93380759 2,874,331.14
A-3 1,159,833.84 70,035,569.41 0.93380759 1,159,833.84
X-1 0.00 0.00 0.00000000 0.00
X-2 0.00 0.00 0.00000000 0.00
X-B 0.00 0.00 0.00000000 0.00
B-1 0.00 14,874,000.00 1.00000000 0.00
B-2 0.00 8,499,000.00 1.00000000 0.00
B-3 0.00 4,674,000.00 1.00000000 0.00
B-4 0.00 2,124,000.00 1.00000000 0.00
B-5 0.00 2,124,000.00 1.00000000 0.00
B-6 0.00 3,830,447.31 1.00000000 0.00
A-R 0.00 0.00 0.00000000 0.00
------------- -------------- ---------- -------------
Totals 19,947,534.41 775,822,825.06 0.91274074 19,947,534.41
------------- -------------- ---------- -------------
(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-1 553,000,000.00 925.87913570 0.04246423 28.73397235 0.00000000 0.00000000
A-2 185,867,000.00 949.27204329 0.01097048 15.45348066 0.00000000 0.00000000
A-3 75,000,000.00 949.27204333 0.01097053 15.45348067 0.00000000 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 14,874,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-2 8,499,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-3 4,674,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-4 2,124,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-5 2,124,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-6 3,830,447.31 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Total Principal Ending Certificate Ending Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ------ --------------- ------------------ ------------------ ---------------
A-1 28.77643658 897.10269911 0.89710270 28.77643658
A-2 15.46445114 933.80759215 0.93380759 15.46445114
A-3 15.46445120 933.80759213 0.93380759 15.46445120
X-1 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1000.00000000 1.00000000 0.00000000
B-2 0.00000000 1000.00000000 1.00000000 0.00000000
B-3 0.00000000 1000.00000000 1.00000000 0.00000000
B-4 0.00000000 1000.00000000 1.00000000 0.00000000
B-5 0.00000000 1000.00000000 1.00000000 0.00000000
B-6 0.00000000 1000.00000000 1.00000000 0.00000000
A-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
Certificate/ Current Unpaid
Original Face Current Notional Accrued Interest
Class Amount Certificate Rate Balance Interest Shortfall
- ------ -------------- ---------------- -------------- ------------ ----------
A-1 553,000,000.00 3.17406% 512,011,162.04 1,354,293.89 0.00
A-2 185,867,000.00 2.17000% 176,438,346.87 319,059.34 0.00
A-3 75,000,000.00 1.86250% 71,195,403.25 110,501.20 0.00
X-1 0.00 0.80000% 216,102,432.59 144,068.29 0.00
X-2 0.00 0.31777% 247,633,750.12 65,576.53 0.00
X-B 0.00 0.61407% 23,373,000.00 11,960.52 0.00
B-1 14,874,000.00 2.39000% 14,874,000.00 29,624.05 0.00
B-2 8,499,000.00 2.79000% 8,499,000.00 19,760.17 0.00
B-3 4,674,000.00 3.14952% 4,674,000.00 12,267.37 0.00
B-4 2,124,000.00 3.14952% 2,124,000.00 5,574.65 0.00
B-5 2,124,000.00 3.14952% 2,124,000.00 5,574.65 0.00
B-6 3,830,447.31 3.14952% 3,830,447.31 10,053.39 0.00
A-R 100.00 3.02344% 0.00 0.00 0.00
-------------- ------------ ----
Totals 849,992,547.31 2,088,314.05 0.00
-------------- ------------ ----
Non- Remaining Ending
Current Supported Unpaid Certificate/
Interest Interest Realized Total Interest Interest Notational
Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance
- ------ --------- --------- -------- -------------- ---------- --------------
A-1 0.00 0.00 0.00 1,354,293.89 0.00 496,097,792.61
A-2 0.00 0.00 0.00 319,059.34 0.00 173,564,015.73
A-3 0.00 0.00 0.00 110,501.20 0.00 70,035,569.41
X-1 0.00 0.00 0.00 144,068.29 0.00 208,073,936.97
X-2 0.00 0.00 0.00 65,576.53 0.00 243,599,585.14
X-B 0.00 0.00 0.00 11,960.52 0.00 23,373,000.00
B-1 0.00 0.00 0.00 29,624.05 0.00 14,874,000.00
B-2 0.00 0.00 0.00 19,760.17 0.00 8,499,000.00
B-3 0.00 0.00 0.00 12,267.37 0.00 4,674,000.00
B-4 0.00 0.00 0.00 5,574.65 0.00 2,124,000.00
B-5 0.00 0.00 0.00 5,574.65 0.00 2,124,000.00
B-6 0.00 0.00 0.00 10,053.39 0.00 3,830,447.31
A-R 0.00 0.00 0.00 0.00 0.00 0.00
---- ---- ---- ------------ ----
Totals 0.00 0.00 0.00 2,088,314.05 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
Class Original Face Certificate Certificate/ Current Accrued Interest
(5) Amount Rate Notional Balance Interest Shortfall
- ------ -------------- ----------- ---------------- --------------- ----------
A-1 553,000,000.00 3.17406% 925.87913570 2.44899438 0.00000000
A-2 185,867,000.00 2.17000% 949.27204329 1.71660026 0.00000000
A-3 75,000,000.00 1.86250% 949.27204333 1.47334933 0.00000000
X-1 0.00 0.80000% 828.40080420 0.55226721 0.00000000
X-2 0.00 0.31777% 949.27204330 0.25137917 0.00000000
X-B 0.00 0.61407% 1000.00000000 0.51172378 0.00000000
B-1 14,874,000.00 2.39000% 1000.00000000 1.99166667 0.00000000
B-2 8,499,000.00 2.79000% 1000.00000000 2.32499941 0.00000000
B-3 4,674,000.00 3.14952% 1000.00000000 2.62459777 0.00000000
B-4 2,124,000.00 3.14952% 1000.00000000 2.62459981 0.00000000
B-5 2,124,000.00 3.14952% 1000.00000000 2.62459981 0.00000000
B-6 3,830,447.31 3.14952% 1000.00000000 2.62459948 0.00000000
A-R 100.00 3.02344% 0.00000000 0.00000000 0.00000000
Non- Remaining
Current Supported Unpaid
Class Interest Interest Realized Total Interest Interest Ending Certificate/
(5) Shortfall Shortfall Loss (6) Distribution Shortfall Notational Balance
- ------ ---------- ----------- ---------- -------------- ---------- -------------------
A-1 0.00000000 0.00000000 0.00000000 2.44899438 0.00000000 897.10269911
A-2 0.00000000 0.00000000 0.00000000 1.71660026 0.00000000 933.80759215
A-3 0.00000000 0.00000000 0.00000000 1.47334933 0.00000000 933.80759213
X-1 0.00000000 0.00000000 0.00000000 0.55226721 0.00000000 797.62460169
X-2 0.00000000 0.00000000 0.00000000 0.25137917 0.00000000 933.80759214
X-B 0.00000000 0.00000000 0.00000000 0.51172378 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 0.00000000 1.99166667 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 0.00000000 2.32499941 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 0.00000000 2.62459777 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 0.00000000 2.62459981 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 0.00000000 2.62459981 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 0.00000000 2.62459948 0.00000000 1000.00000000
A-R 0.00000000 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 22,296,633.62
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 19,622.82
Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 22,316,256.44
Withdrawals
Reimbursement for Servicer Advances 25,515.92
Payment of Service Fee 254,892.06
Payment of Interest and Principal 22,035,848.46
-------------
Total Withdrawals (Pool Distribution Amount) 22,316,256.44
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 248,879.82
Master Servicing Fee 1,038.67
PMI 4,973.57
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 254,892.06
==========
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 20 6,584,111.80
60 Days 1 243,699.99
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
-- ------------
21 6,827,811.79
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.876040% 0.848660%
60 Days 0.043802% 0.031412%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.919842% 0.880072%
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 20 6,584,111.80
60 Days 1 243,699.99
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
-- ------------
21 6,827,811.79
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.876040% 0.848660%
60 Days 0.043802% 0.031412%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
0.919842% 0.880072%
Current Period Class A Insufficient Funds: 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 19,622.82
Original $ Original% Current $ Current % Current Class % Prepayment %
---------- --------- --------- --------- --------------- ------------
Class A 36,125,447.31 4.25008989% 36,125,447.31 4.65640429% 95.343596% 0.000000%
Class X-1 36,125,447.31 4.25008989% 36,125,447.31 4.65640429% 0.000000% 0.000000%
Class X-2 36,125,447.31 4.25008989% 36,125,447.31 4.65640429% 0.000000% 0.000000%
Class B-1 21,251,447.31 2.50019219% 21,251,447.31 2.73921398% 1.917190% 41.173193%
Class B-2 12,752,447.31 1.50030107% 12,752,447.31 1.64373191% 1.095482% 23.526352%
Class B-3 8,078,447.31 0.95041390% 8,078,447.31 1.04127477% 0.602457% 12.938248%
Class B-4 5,954,447.31 0.70052936% 5,954,447.31 0.76750092% 0.273774% 5.879512%
Class B-5 3,830,447.31 0.45064481% 3,830,447.31 0.49372707% 0.273774% 5.879512%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.493727% 10.603183%
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
DELINQUENT
GROUP ONE
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 15 4,874,272.46
60 Days 1 243,699.99
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
-- ------------
16 5,117,972.45
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.943990% 0.936201%
60 Days 0.062933% 0.046807%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
1.006923% 0.983008%
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 15 4,874,272.46
60 Days 1 243,699.99
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
-- ------------
16 5,117,972.45
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.943990% 0.936201%
60 Days 0.062933% 0.046807%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- --------
1.006923% 0.983008%
DELINQUENT
GROUP TWO
No. of Principal
Loans Balance
0-29 Days 0 0.00
30 Days 5 1,709,839.34
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
- ------------
5 1,709,839.34
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.720461% 0.670052%
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%
-------- --------
0.720461% 0.670052%
BANKRUPTCY
1.183654%
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 5 1,709,839.34
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
- ------------
5 1,709,839.34
No. of Principal
Loans Balance
0-29 Days 0.000000% 0.000000%
30 Days 0.720461% 0.670052%
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%
-------- --------
0.720461% 0.670052%
COLLATERAL STATEMENT
Collateral Description Mixed Arm
Weighted Average Gross Coupon 3.533491%
Weighted Average Net Coupon 3.158187%
Weighted Average Pass-Through Rate 3.149121%
Weighted Average Maturity (Stepdown Calculation) 337
Beginning Scheduled Collateral Loan Count 2,323
Number of Loans Paid in Full 40
Ending Scheduled Collateral Loan Count 2,283
Beginning Scheduled Collateral Balance 795,770,359.47
Ending Scheduled Collateral Balance 775,822,825.06
Ending Actual Collateral Balance at 29-Oct-2004 775,824,005.42
Monthly P&I Constant 2,369,550.66
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realization Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 21,941,033.66
Ending Scheduled Balance for Premium Loans 775,822,825.06
Scheduled Principal 26,344.56
Unscheduled Principal 19,921,189.85
GROUP GROUP ONE GROUP TWO TOTAL
Collateral Description 6 Month LIBOR ARM Mixed ARM Mixed ARM
Weighted Average Coupon Rate 3.558477 3.481771 3.533491
Weighted Average Net Rate 3.183026 3.106771 3.158187
Pass-Through Rate 3.174057 3.097504 3.149121
Weighted Average Maturity 339 332 337
Record Date 10/29/2004 10/29/2004 10/29/2004
Principal and Interest Constant 1,614,587.03 754,963.63 2,369,550.66
Beginning Loan Count 1,621 702 2,323
Loans Paid in Full 32 8 40
Ending Loan Count 1,589 694 2,283
Beginning Scheduled Balance 536,556,832.79 259,213,526.68 795,770,359.47
Ending Scheduled Balance 520,643,463.36 255,179,361.70 775,822,825.06
Scheduled Principal 23,482.72 2,861.84 26,344.56
Unscheduled Principal 15,889,886.71 4,031,303.14 19,921,189.85
Scheduled Interest 1,591,104.31 752,101.79 2,343,206.10
Servicing Fee 167,875.59 81,004.23 248,879.82
Master Servicing Fee 3,353.49 1,620.08 4,973.57
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 656.88 381.79 1,038.67
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 1,419,218.35 669,095.69 2,088,314.04
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
MISCELLANEOUS REPORTING
Group One
Six-Month Libor Loan Balance 520,643,463.36
Interest Transfer Amount 0.00
Principal Transfer Amount 0.00
Prorata Senior Percentage 95.425336%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%
Group Two
One-Month Libor Loan Balance 142,433,120.26
Six-Month Libor Loan Balance 112,746,241.44
Interest Transfer Amount 0.00
Principal Transfer Amount 0.00
Prorata Senior Percentage 95.532727%
Senior Percentage 100.000000%
Senior Prepayment Percentage 100.000000%
Subordinate Percentage 0.000000%
Subordinate Prepayment Percentage 0.000000%