Document:

<PAGE>

                                  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 2004-4
                           RECORD DATE: MARCH 31, 2005
                        DISTRIBUTION DATE: APRIL 20, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                     Certificate                          Beginning
                        Class      Certificate Pass-    Certificate       Interest       Principal         Current
Class      CUSIP     Description      Through Rate         Balance      Distribution    Distribution    Realized Loss
------   ---------   -----------   -----------------   --------------   ------------    -------------   -------------
<S>      <C>         <C>           <C>                 <C>              <C>             <C>             <C>
  A      81744FBF3       SEN           2.46125%        638,664,181.87   1,309,926.86    26,420,094.06        0.00
 X-1     81744FBG1       SEN           0.80000%                  0.00     351.399.59             0.00        0.00
 X-2     81744FBH9       SEN           0.75337%                  0.00     400,958.73             0.00        0.00
 X-B     81744FBJ5       SEN           0.37941%                  0.00       7,260.10             0.00        0.00
 B-1     81744FBK2       SUB           3.35000%         14,612,000.00      40,791.83             0.00        0.00
 B-2     81744FBL0       SUB           3.75000%          8,350,000.00      26,093.75             0.00        0.00
 B-3     81744FBM8       SUB           3.87487%          4,175,000.00      13,481.33             0.00        0.00
 B-4     81744FBN6       SUB           3.87487%          2,509,000.00       8,101.71             0.00        0.00
 B-5     81744FBP1       SUB           3.87487%          2,088,000.00       6,742.28             0.00        0.00
 B-6     81744FBQ9       SUB           3.87487%          3,757,983.00      12,134.75             0.00        0.00
 A-R     81744FBR7       RES           2.77482%                  0.00           0.00             0.00        0.00
                                                       --------------   ------------    -------------        ----
Totals                                                 674,156,164.87   2,176,890.93    26,420,094.06        0.00
                                                       --------------   ------------    -------------        ----

<CAPTION>
           Ending Certificate       Total         Cumulative
Class            Balance         Distribution    Realized Loss
------     ------------------    -------------   -------------
<S>        <C>                   <C>             <C>
  A           612,244,087.81     27,730,020.92       0.00
 X-1                    0.00        351,399.59       0.00
 X-2                    0.00        400,958.73       0.00
 X-B                    0.00          7,260.10       0.00
 B-1           14,612,000.00         40,791.83       0.00
 B-2            8,350,000.00         26,093.75       0.00
 B-3            4,175,000.00         13,481.33       0.00
 B-4            2,509,000.00          8,101.71       0.00
 B-5            2,088,000.00          6,742.28       0.00
 B-6            3,757,983.00         12,134.75       0.00
 A-R                    0.00              0.00       0.00
              --------------     -------------       ----
Totals        647,736,070.81     28,596,984.99       0.00
              --------------     -------------       ----
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                             Beginning       Scheduled     Unscheduled
         Original Face      Certificate      Principal      Principal                 Realized   Total Principal
Class        Amount          Balance       Distribution    Distribution   Accretion   Loss (1)      Reduction
------   --------------   --------------   ------------   -------------   ---------   --------   ---------------
<S>      <C>              <C>              <C>            <C>             <C>         <C>        <C>
  A      799,511,000.00   638,664,181.87       0.00       24,420,094.06      0.00       0.00      24,420,094.06
 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      14,612,000.00    14,612,000.00       0.00                0.00      0.00       0.00               0.00
 B-2       8,350,000.00     8,350,000.00       0.00                0.00      0.00       0.00               0.00
 B-3       4,175,000.00     4,175,000.00       0.00                0.00      0.00       0.00               0.00
 B-4       2,509,000.00     2,509,000.00       0.00                0.00      0.00       0.00               0.00
 B-5       2,088,000.00     2,088,000.00       0.00                0.00      0.00       0.00               0.00
 B-6       3,757,983.00     3,757,983.00       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   835,003,083.00   674,156,164.87       0.00       24,420,094.06      0.00       0.00      26,420,094.06
         --------------   --------------       ----       -------------      ----       ----      -------------

<CAPTION>
         Ending Certificate   Ending Certificate   Total Principal
Class          Balance             Percentage        Distribution
------   ------------------   ------------------   ---------------
<S>      <C>                  <C>                  <C>
  A        612,244,087.81         0.76577319        24,420,094.06
 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        14,612,000.00         1.00000000                 0.00
 B-2         8,350,000.00         1.00000000                 0.00
 B-3         4,175,000.00         1.00000000                 0.00
 B-4         2,509,000.00         1.00000000                 0.00
 B-5         2,088,000.00         1.00000000                 0.00
 B-6         3,757,983.00         1.00000000                 0.00
 A-R                 0.00         0.00000000                 0.00
           --------------         ----------        -------------
Totals     647,736,070.81         0.77572896        26,420,094.06
           --------------         ----------        -------------
</TABLE>

(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.

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                           Beginning      Scheduled      Unscheduled
        Original Face     Certificate     Principal       Principal                  Realized    Total Principal
Class      Amount           Balance      Distribution   Distribution    Accretion    Loss (3)       Reduction
-----   --------------   -------------   ------------   ------------   ----------   ----------   ---------------
<S>     <C>              <C>             <C>            <C>            <C>          <C>          <C>
  A     799,511,000.00    798.81850515    0.00000000     33.04531652   0.00000000   0.00000000     33.04531652
 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     14,612,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000      0.00000000
 B-2      8,350,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000      0.00000000
 B-3      4,175,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000      0.00000000
 B-4      2,509,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000      0.00000000
 B-5      2,088,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000      0.00000000
 B-6      3,757,983.00   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

<CAPTION>
         Ending Certificate   Ending Certificate   Total Principal
Class         Balance             Percentage         Distribution
-----   -------------------   ------------------   ---------------
<S>     <C>                   <C>                  <C>
  A         765.77318862          0.76577319         33.04531652
 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
</TABLE>

(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

<TABLE>
<CAPTION>
                                                Beginning                     Payment of                   Non-
                                               Certificate/       Current       Unpaid      Current    Supported
         Original Face         Current           Notional         Accrued      Interest     Interest    Interest   Realized
 Class      Amount        Certificate Rate       Balance         Interest      Shortfall   Shortfall   Shortfall   Loss (4)
------   --------------   ----------------   ---------------   ------------   ----------   ---------   ---------   --------
<S>      <C>              <C>                <C>               <C>            <C>          <C>         <C>         <C>
   A     799,511,000.00       2.46125%       638,664,181.87    1,309,926.85      0.00         0.00       (0.01)      0.00
  X-1              0.00       0.80000%       527,099,373.98      351,399.58      0.00         0.00        0.00       0.00
  X-2              0.00       0.75337%       638,664,181.87      400,958.73      0.00         0.00        0.00       0.00
  X-B              0.00       0.37941%        22,962,000.00        7,260.10      0.00         0.00        0.00       0.00
  B-1     14,612,000.00       3.35000%        14,612,000.00       40,791.83      0.00         0.00        0.00       0.00
  B-2      8,350,000.00       3.75000%         8,350,000.00       26,093.75      0.00         0.00        0.00       0.00
  B-3      4,175,000.00       3.87487%         4,175,000.00       13,481.33      0.00         0.00        0.00       0.00
  B-4      2,509,000.00       3.87487%         2,509,000.00        8,101.71      0.00         0.00        0.00       0.00
  B-5      2,088,000.00       3.87487%         2,088,000.00        6,742.28      0.00         0.00        0.00       0.00
  B-6      3,757,983.00       3.87487%         3,757,983.00       12,134.75      0.00         0.00        0.00       0.00
  A-R            100.00       2.77482%                 0.00            0.00      0.00         0.00        0.00       0.00
         --------------                                        ------------      ----         ----       -----       ----
Totals   835,003,083.00                                        2,176,890.91      0.00         0.00       (0.01)      0.00
         --------------                                        ------------      ----         ----       -----       ----

<CAPTION>
                             Remaining        Ending
                              Unpaid      Certificate/
           Total Interest    Interest      Notational
 Class      Distribution     Shortfall       Balance
------    ---------------   ----------   --------------
<S>       <C>               <C>          <C>
   A        1,309,926.86       0.00      612,244,087.81
  X-1          31,399.59       0.00      507,261,503.29
  X-2         400,958.73       0.00      612,244,087.81
  X-B           7,260.10       0.00       22,962,000.00
  B-1          40,791.83       0.00       14,612,000.00
  B-2          26,093.75       0.00        8,350,000.00
  B-3          13,481.33       0.00        4,175,000.00
  B-4           8,101.71       0.00        2,509,000.00
  B-5           6,742.28       0.00        2,088,000.00
  B-6          12,134.75       0.00        3,757,983.00
  A-R               0.00       0.00                0.00
            ------------       ----
Totals      2,176,890.93       0.00
            ------------       ----
</TABLE>

(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.

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                            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)
-----   --------------   -----------   ----------------   ---------------   ----------   ----------   ------------   ----------
<S>     <C>              <C>           <C>                <C>               <C>          <C>          <C>            <C>
  A     799,511,000.00     2.46125%       798.81850515       1.63841004     0.00000000   0.00000000   (0.00000001)   0.00000000
 X-1              0.00     0.80000%       659.27720066       0.43951813     0.00000000   0.00000000    0.00000000    0.00000000
 X-2              0.00     0.75337%       798.81850515       0.50150496     0.00000000   0.00000000    0.00000000    0.00000000
 X-B              0.00     0.37941%      1000.00000000       0.31617890     0.00000000   0.00000000    0.00000000    0.00000000
 B-1     14,612,000.00     3.35000%      1000.00000000       2.79166644     0.00000000   0.00000000    0.00000000    0.00000000
 B-2      8,350,000.00     3.75000%      1000.00000000       3.12500000     0.00000000   0.00000000    0.00000000    0.00000000
 B-3      4,175,000.00     3.87487%      1000.00000000       3.22906108     0.00000000   0.00000000    0.00000000    0.00000000
 B-4      2,509,000.00     3.87487%      1000.00000000       3.22905939     0.00000000   0.00000000    0.00000000    0.00000000
 B-5      2,088,000.00     3.87487%      1000.00000000       3.22906130     0.00000000   0.00000000    0.00000000    0.00000000
 B-6      3,757,983.00     3.87487%      1000.00000000       3.22905931     0.00000000   0.00000000    0.00000000    0.00000000
 A-R            100.00     2.77482%         0.00000000       0.00000000     0.00000000   0.00000000    0.00000000    0.00000000

<CAPTION>
                          Remaining
                           Unpaid
Class   Total Interest    Interest    Ending Certificate/
 (5)      Distribution    Shortfall   Notational Balance
-----   --------------   ----------   -------------------
<S>     <C>              <C>          <C>
  A       1.63841005     0.00000000       765.77318862
 X-1      0.43951814     0.00000000       634.46469566
 X-2      0.50150496     0.00000000       765.77318862
 X-B      0.31617890     0.00000000      1000.00000000
 B-1      2.79166644     0.00000000      1000.00000000
 B-2      3.12500000     0.00000000      1000.00000000
 B-3      3.22906108     0.00000000      1000.00000000
 B-4      3.22905939     0.00000000      1000.00000000
 B-5      3.22906130     0.00000000      1000.00000000
 B-6      3.22905931     0.00000000      1000.00000000
 A-R      0.00000000     0.00000000         0.00000000
</TABLE>

(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

<TABLE>
<S>                                                                            <C>
Beginning Balance                                                                       0.00

Deposits
            Payments of Interest and Principal                                 28,812,395.82
            Liquidations, Insurance Proceeds, Reserve Funds                             0.00
            Proceeds from Repurchased Loans                                             0.00
            Other Amounts (Servicer Advances)                                           0.00
            Realized Losses (Gains, Subsequent Expenses & Recoveries)                   0.00
            Prepayment Penalties                                                        0.00
                                                                               -------------
Total Deposits                                                                 28,812,395.82

Withdrawals
            Reimbursement for Servicer Advances                                         0.00
            Payment of Service Fee                                                215,410.83
            Payment of Interest and Principal                                  28,596,984.99
                                                                               -------------
Total Withdrawals (Pool Distribution Amount)                                   28,812,395.82

Ending Balance                                                                          0.00
                                                                               =============
</TABLE>

<PAGE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                                    <C>
Total Prepayment/Curtailment Interest Shortfall                        0.00
Servicing Fee Support                                                  0.00
                                                                       ----

Non-Supported Prepayment Curtailment Interest Shortfall                0.00
                                                                       ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                              <C>
Gross Servicing Fee                                              211,197.36
Master Servicing Fee                                               4,213.47
Supported Prepayment/Curtailment Interest Shortfall                    0.00
                                                                 ----------

Net Servicing Fee                                                215,410.83
                                                                 ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                          Beginning      Current       Current     Ending
     Account Type          Balance     Withdrawals    Deposits     Balance
---------------------     ---------    -----------    --------    --------
<S>                       <C>          <C>            <C>         <C>
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
</TABLE>
<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
                  DELINQUENT
----------------------------------------------
                   No. of           Principal
                   Loans             Balance
<S>                <C>            <C>
0-29 Days            0                    0.00
30 Days             15            3,815,665.06
60 Days              1              294,751.49
90 Days              0                    0.00
120 Days             0                    0.00
150 Days             1              138,400.00
180+ Days            0                    0.00
                   ---            ------------
                    17            4,248,816.55

                   No. of           Principal
                   Loans             Balance

0-29 Days         0.000000%        0.000000%
30 Days           0.730282%        0.589073%
60 Days           0.048685%        0.045505%
90 Days           0.000000%        0.000000%
120 Days          0.000000%        0.000000%
150 Days          0.048685%        0.021367%
180+ Days         0.000000%        0.000000%
                  --------         --------
                  0.827653%        0.655944%
</TABLE>

<TABLE>
<CAPTION>
                  BANKRUPTCY
----------------------------------------------
                   No. of          Principal
                   Loans            Balance
<S>                <C>             <C>
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%
</TABLE>

<TABLE>
<CAPTION>
                  FORECLOSURE
----------------------------------------------
                   No. of          Principal
                   Loans            Balance
<S>                <C>             <C>
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%
</TABLE>

<TABLE>
<CAPTION>
                     REO
----------------------------------------------
                   No. of          Principal
                   Loans            Balance
<S>                <C>             <C>
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%
</TABLE>

<TABLE>
<CAPTION>
                     TOTAL
----------------------------------------------
                   No. of          Principal
                   Loans            Balance
<S>                <C>            <C>
0-29 Days             0                   0.00
30 Days              15           3,815,665.06
60 Days               1             294,751.49
90 Days               0                   0.00
120 Days              0                   0.00
150 Days              1             138,400.00
180+ Days             0                   0.00
                    ---           ------------
                     17           4,248,816.55

                   No. of          Principal
                   Loans            Balance

0-29 Days         0.000000%        0.000000%
30 Days           0.730282%        0.589073%
60 Days           0.048685%        0.045505%
90 Days           0.000000%        0.000000%
120 Days          0.000000%        0.000000%
150 Days          0.048685%        0.021367%
180+ Days         0.000000%        0.000000%
                  --------         --------
                  0.827653%        0.655944%
</TABLE>

<TABLE>
<S>                                         <C>   <C>                                           <C>   <C>               <C>
Current Period Class A Insufficient Funds:  0.00  Principal Balance of Contaminated Properties  0.00  Periodic Advance  0.00
</TABLE>

<TABLE>
<CAPTION>
                Original $       Original%         Current $         Current %       Current Class %      Prepayment %
              -------------     -----------      -------------      -----------      ---------------      ------------
<S>           <C>               <C>              <C>                <C>              <C>                  <C>
Class A       35,491,983.00     4.25052119%      35,491,983.00      5.47938961%        94.520610%           0.000000%
Class X-1     35,491,983.00     4.25052119%      35,491,983.00      5.47938961%         0.000000%           0.000000%
Class X-2     35,491,983.00     4.25052119%      35,491,983.00      5.47938961%         0.000000%           0.000000%
Class B-1     20,879,983.00     2.50058753%      20,879,983.00      3.22353253%         2.255857%          41.169861%
Class B-2     12,529,983.00     1.50059123%      12,529,983.00      1.93442724%         1.289105%          23.526440%
Class B-3      8,354,983.00     1.00059307%       8,354,983.00      1.28987459%         0.644553%          11.763220%
Class B-4      5,845,983.00     0.70011514%       5,845,983.00      0.90252547%         0.387349%           7.069202%
Class B-5      3,757,983.00     0.45005618%       3,757,983.00      0.58017195%         0.322354%           5.883019%
Class B-6              0.00     0.00000000%               0.00      0.00000000%         0.580172%          10.588259%
</TABLE>

Please refer to the prospectus supplement for a full description of loss
exposure

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                           Mixed Arm
<S>                                                            <C>
Weighted Average Gross Coupon                                        4.258304%
Weighted Average Net Coupon                                          3.882372%
Weighted Average Pass-Through Rate                                   3.874872%
Weighted Average Maturity (Stepdown Calculation)                          331

Beginning Scheduled Collateral Loan Count                               2,122
Number of Loans Paid in Full                                               68
Ending Scheduled Collateral Loan Count                                  2,054

Beginning Scheduled Collateral Balance                         674,156,165.61
Ending Scheduled Collateral Balance                            647,736,071.55
Ending Actual Collateral Balance at 31-Mar-2005                647,741,093.28

Monthly P&I Constant                                             2,392,301.74
Special Servicing Fee                                                    0.00
Prepayment Penalties                                                     0.00
Realization Loss Amount                                                  0.00
Cumulative Realized Loss                                                 0.00

Class A Optimal Amount                                          28,489,639.32

Ending Scheduled Balance for Premium Loans                     647,736,071.55

Scheduled Principal                                                      0.00
Unscheduled Principal                                           26,420,094.06
</TABLE>

<TABLE>
<CAPTION>
MISCELLANEOUS REPORTING
<S>                                                            <C>
One-Month Libor Loan Balance'                                   92,639,640.05
Six-Month Libor Loan Balance                                   555,096,431.50
Prorata Senior Percentage                                           94.735347%
Senior Percentage                                                  100.000000%
Senior Prepayment Percentage                                       100.000000%
Subordinate Percentage                                               0.000000%
Subordinate Prepayment Percentage                                    0.000000%
</TABLE><PAGE>

                                  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: MARCH 31, 2005
                        DISTRIBUTION DATE: APRIL 20, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                 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
-----  --------- ----------- ------------ -------------- ------------ ------------- -------- -------------- ------------  ----------
<S>    <C>       <C>         <C>          <C>            <C>          <C>           <C>      <C>            <C>           <C>
  A    81744FAZ0     SEN       3.54625%   698,494,039.80 2,064,195.42 35,760,089.31   0.00   662,733,950.49 37,824,284.73    0.00
 M-1   81744FBA4     SUB       3.35000%    13,800,000.00    38,525.00          0.00   0.00    13,800,000.00     38,525.00    0.00
 M-2   81744FBB2     SUB       3.75000%     9,200,000.00    28,750.00          0.00   0.00     9,200,000.00     28,750.00    0.00
 M-3   81744FBC0     SUB       4.29664%     2,300,000.00     8,235.23          0.00   0.00     2,300,000.00      8,235.23    0.00
  X    81744FBD8      IO       0.00000%             0.00   468,334.03          0.00   0.00             0.00    468,334.03    0.00
  R    81744FBE6     RES       0.00000%             0.00         0.00          0.00   0.00             0.00          0.00    0.00
                                          -------------- ------------ ------------- ------   -------------- ------------- -------
Totals                                    723,794,039.80 2,608,039.68 35,760,089.31   0.00   688,033,950.49 38,368,128.99    0.00
                                          -------------- ------------ ------------- ------   -------------- ------------- -------
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                        Beginning      Scheduled   Unscheduled                         Total         Ending
       Original Face   Certificate     Principal    Principal             Realized   Principal    Certificate
Class      Amount        Balance     Distribution Distribution  Accretion Loss (1)   Reduction      Balance
-----  -------------- -------------- ------------ ------------  --------- -------- ------------- --------------
<S>    <C>            <C>            <C>          <C>           <C>       <C>      <C>           <C>
  A    894,673,000.00 698,494,039.80     0.00     35,760,089.31    0.00     0.00   35,760,089.31 662,733,950.49
 M-1    13,800,000.00  13,800,000.00     0.00              0.00    0.00     0.00            0.00  13,800,000.00
 M-2     9,200,000.00   9,200,000.00     0.00              0.00    0.00     0.00            0.00   9,200,000.00
 M-3     2,300,000.00   2,300,000.00     0.00              0.00    0.00     0.00            0.00   2,300,000.00
  X              0.00           0.00     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            0.00           0.00
       -------------- -------------- --------     ------------- -------   ------   ------------- --------------
Totals 919,973,000.00 723,794,039.80     0.00     35,760,089.31    0.00     0.00   35,760,089.31 688,033,950.49
       -------------- -------------- --------     ------------- -------   ------   ------------- --------------
</TABLE>

<TABLE>
<CAPTION>
         Ending        Total
       Certificate   Principal
Class  Percentage  Distribution
-----  ----------  ------------
<S>    <C>         <C>
  A     0.74075551 35,760,089.31
 M-1    1.00000000          0.00
 M-2    1.00000000          0.00
 M-3    1.00000000          0.00
  X     0.00000000          0.00
  R     0.00000000          0.00
       ----------- -------------
Totals  0.74788494 35,760,089.31
       ----------- -------------
</TABLE>

(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.

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                       Beginning     Scheduled   Unscheduled                          Total        Ending
      Original Face   Certificate    Principal    Principal              Realized   Principal   Certificate
Class    Amount         Balance    Distribution Distribution  Accretion  Loss (3)   Reduction     Balance
----- -------------- ------------- ------------ ------------ ---------- ---------- ----------- -------------
<S>   <C>            <C>           <C>          <C>          <C>        <C>        <C>         <C>
  A   894,673,000.00  780.72551625  0.00000000   39.97001062 0.00000000 0.00000000 39.97001062  740.75550563
 M-1   13,800,000.00 1000.00000000  0.00000000    0.00000000 0.00000000 0.00000000  0.00000000 1000.00000000
 M-2    9,200,000.00 1000.00000000  0.00000000    0.00000000 0.00000000 0.00000000  0.00000000 1000.00000000
 M-3    2,300,000.00 1000.00000000  0.00000000    0.00000000 0.00000000 0.00000000  0.00000000 1000.00000000
  X             0.00    0.00000000  0.00000000    0.00000000 0.00000000 0.00000000  0.00000000    0.00000000
  R             0.00    0.00000000  0.00000000    0.00000000 0.00000000 0.00000000  0.00000000    0.00000000
</TABLE>

<TABLE>
<CAPTION>
         Ending     Total
      Certificate Principal
Class  Percentage Distribution
----- ----------- ------------
<S>   <C>         <C>
  A    0.74075551 39.97001062
 M-1   1.00000000  0.00000000
 M-2   1.00000000  0.00000000
 M-3   1.00000000  0.00000000
  X    0.00000000  0.00000000
  R    0.00000000  0.00000000
</TABLE>

(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

<TABLE>
<CAPTION>
                                     Beginning                Payment of              Non-
                        Current    Certificate/     Current     Unpaid    Current  Supported
        Original Face Certificate    Notional       Accrued    Interest   Interest Interest  Realized  Total Interest
Class      Amount        Rate        Balance       Interest   Shortfall  Shortfall Shortfall  Loss (4)   Distribution
-----  -------------- ----------- -------------- ------------ ---------- --------- --------- --------- --------------
<S>    <C>            <C>         <C>            <C>          <C>        <C>       <C>       <C>       <C>
  A    894,673,000.00   3.54625%  698,494,039.80 2,064,195.41    0.00       0.00     (0.02)     0.00    2,064,195.42
 M-1    13,800,000.00   3.35000%   13,800,000.00    38,525.00    0.00       0.00      0.00      0.00       38,525.00
 M-2     9,200,000.00   3.75000%    9,200,000.00    28,750.00    0.00       0.00      0.00      0.00       28,750.00
 M-3     2,300,000.00   4.29664%    2,300,000.00     8,235.23    0.00       0.00      0.00      0.00        8,235.23
  X              0.00   0.00000%  728,393,907.77         0.00    0.00       0.00      0.00      0.00      468,334.03
  R              0.00   0.00000%            0.00         0.00    0.00       0.00      0.00      0.00            0.00
       --------------   -------   -------------- ------------    ----       ----     -----      ----    ------------
Totals 919,973,000.00                            2,139,705.64    0.00       0.00     (0.02)     0.00    2,608,039.68
       --------------   -------   -------------- ------------    ----       ----     -----      ----    ------------
</TABLE>

<TABLE>
<CAPTION>
       Remaining     Ending
        Unpaid    Certificate/
       Interest    Notational
Class  Shortfall    Balance
-----  --------- --------------
<S>    <C>       <C>
  A       0.00   662,733,950.49
 M-1      0.00    13,800,000.00
 M-2      0.00     9,200,000.00
 M-3      0.00     2,300,000.00
  X       0.00   692,633,818.46
  R       0.00             0.00
          ----
Totals    0.00
          ----
</TABLE>

(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.

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                  Payment of
                            Current       Beginning      Current    Unpaid    Current   Non-Supported
           Original Face  Certificate  Certificate/      Accrued   Interest   Interest     Interest    Realized  Total Interest
Class (5)      Amount         Rate    Notional Balance  Interest  Shortfall  Shortfall   Shortfall     Loss (6)   Distribution
--------- --------------- ----------- ---------------- ---------- ---------- ---------- ------------- ---------- --------------
<S>       <C>             <C>         <C>              <C>        <C>        <C>        <C>           <C>        <C>
    A      894,673,000.00   3.54625%     780.72551625  2.30720655 0.00000000 0.00000000  (0.00000002) 0.00000000   2.30720657
   M-1      13,800,000.00   3.35000%    1000.00000000  2.79166667 0.00000000 0.00000000   0.00000000  0.00000000   2.79166667
   M-2       9,200,000.00   3.75000%    1000.00000000  3.12500000 0.00000000 0.00000000   0.00000000  0.00000000   3.12500000
   M-3       2,300,000.00   4.29664%    1000.00000000  3.58053478 0.00000000 0.00000000   0.00000000  0.00000000   3.58053478
    X                0.00   0.00000%     791.75523351  0.00000000 0.00000000 0.00000000   0.00000000  0.00000000   0.50907334
    R                0.00   0.00000%       0.00000000  0.00000000 0.00000000 0.00000000   0.00000000  0.00000000   0.00000000
</TABLE>

<TABLE>
<CAPTION>
           Remaining     Ending
            Unpaid    Certificate/
           Interest   Notational
Class (5)  Shortfall    Balance
--------- ---------- -------------
<S>       <C>        <C>
    A     0.00000000  740.75550563
   M-1    0.00000000 1000.00000000
   M-2    0.00000000 1000.00000000
   M-3    0.00000000 1000.00000000
    X     0.00000000  752.88445554
    R     0.00000000    0.00000000
</TABLE>

(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

<TABLE>
<S>                                                                  <C>
Beginning Balance                                                             0.00

Deposits
         Payments of Interest and Principal                          38,619,067.11
         Liquidations, Insurance Proceeds, Reserve Funds                      0.00
         Proceeds from Repurchased Loans                                      0.00
         Other Amounts (Servicer Advances)                               30,318.80
         Realized Losses (Gains, Subsequent Expenses & Recoveries)            0.00
         Prepayment Penalties                                                 0.00
                                                                     -------------
Total Deposits                                                       38,649,385.91

Withdrawals
         Reimbursement for Servicer Advances                             49,541.87
         Payment of Service Fee                                         231,715.05
         Payment of Interest and Principal                           38,368,128.99
                                                                     -------------
Total Withdrawals (Pool Distribution Amount)                         38,649,385.91

Ending Balance                                                                0.00
                                                                     =============
</TABLE>

<PAGE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                        <C>
Total Prepayment/Curtailment Interest Shortfall            0.00
Servicing Fee Support                                      0.00
                                                           ----

Non-Supported Prepayment Curtailment Interest Shortfall    0.00
                                                           ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                   <C>
Gross Servicing Fee                                   227,769.59
Master Servicing Fee                                    3,945.46
Supported Prepayment/Curtailment Interest Shortfall         0.00
                                                      ----------

Net Servicing Fee                                     231,715.05
                                                      ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
              Beginning    Current     Current   Ending
Account Type   Balance   Withdrawals  Deposits   Balance
------------  ---------  -----------  --------   -------
<S>          <C>         <C>          <C>       <C>
Reserve Fund  10,000.00     0.00        0.00    10,000.00
</TABLE>
<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
             DELINQUENT
---------------------------------------
               No. of        Principal
                Loans         Balance
<S>          <C>           <C>
0-29 Days        0                 0.00
30 Days         23         7,889,324.25
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
             ----------    ------------
                23         7,889,324.25

               No. of        Principal
                Loans         Balance

0-29 Days    0.000000%         0.000000%
30 Days      1.036036%         1.139011%
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%
             --------      ------------
             1.036036%         1.139011%
             --------      ------------
</TABLE>

<TABLE>
<CAPTION>
             BANKRUPTCY
------------------------------------
              No. of       Principal
               Loans        Balance
<S>          <C>          <C>
0-29 Days        1        124,570.28
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
             ---------    ----------
                 1        124,570.28

              No. of       Principal
               Loans        Balance

0-29 Days    0.045045%      0.017985%
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%
             --------     ----------
             0.045045%      0.017985%
             --------     ----------
</TABLE>

<TABLE>
<CAPTION>
             FORECLOSURE
------------------------------------
               No. of      Principal
               Loans        Balance
<S>          <C>          <C>
0-29 Days         1       152,000.00
30 Days           0             0.00
60 Days           0             0.00
90 Days           0             0.00
120 Days          0             0.00
150 Days          1       259,600.00
180+ Days         0             0.00
             ---------    ----------
                  2       411,600.00

               No. of     Principal
                Loans      Balance

0-29 Days     0.045045%     0.021945%
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      0.045045%     0.037479%
180+ Days     0.000000%     0.000000%
             ---------    ----------
              0.090090%     0.059424%
             ---------    ----------
</TABLE>

<TABLE>
<CAPTION>
                REO
------------------------------------
               No. of      Principal
               Loans        Balance
<S>          <C>           <C>
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%
             --------      --------
</TABLE>

<TABLE>
<CAPTION>
                TOTAL
--------------------------------------
               No. of       Principal
                Loans        Balance
<S>            <C>        <C>
0-29 Days         2         276,570.28
30 Days          23       7,889,324.25
60 Days           0               0.00
90 Days           0               0.00
120 Days          0               0.00
150 Days          1         259,600.00
180+ Days         0               0.00
               ------     ------------
                 26       8,425,494.53

               No. of       Principal
                Loans        Balance

0-29 Days    0.090090%        0.039929%
30 Days      1.036036%        1.139011%
60 Days      0.000000%        0.000000%
90 Days      0.000000%        0.000000%
120 Days     0.000000%        0.000000%
150 Days     0.045045%        0.037479%
180+ Days    0.000000%        0.000000%
             --------     ------------
             1.171171%        1.216420%
             --------     ------------
</TABLE>

<TABLE>
<S>                                        <C>    <C>                                           <C>    <C>                <C>
Current Period Class A Insufficient Funds: 0.00   Principal Balance of Contaminated Properties  0.00   Periodic Advance   30,318.80
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT
<TABLE>
<S>                                                               <C>
Collateral Description                                                Mixed Arm

Weighted Average Gross Coupon                                           4.679378%
Weighted Average Net Coupon                                             4.304136%
Weighted Average Pass-Through Rate                                      4.296642%
Weighted Average Maturity (Stepdown Calculation)                             333

Beginning Scheduled Collateral Loan Count                                  2,329
Number of Loans Paid in Full                                                 109
Ending Scheduled Collateral Loan Count                                     2,220

Beginning Scheduled Collateral Balance                            728,393,907.77
Ending Scheduled Collateral Balance                               692,633,818.46
Ending Actual Collateral Balance at 31-Mar-2005                   692,647,077.89

Monthly P&I Constant                                                2,840,358.53
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                        692,633,818.46

Scheduled Principal                                                         0.00
Unscheduled Principal                                              35,760,089.31

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                                                    468,334.04
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                     <C>
Applied Loss Amount                               0.00
1 Month LIBOR Loan Balance               71,662,365.78
6 Month LIBOR Loan Balance              620,971,452.68
M-1 Target Amount                       668,391,634.81
M-2 Target Amount                       682,244,311.18
M-3 Target Amount                       685,707,480.28
Senior Target Amount                    647,612,620.26
Step Down Date Reached?                             No
Trigger Event?                                      No
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00084-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00084-of-00352.parquet"}]]