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 2005-2
                           RECORD DATE: JULY 29, 2005
                       DISTRIBUTION DATE: AUGUST 22, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                     Certificate    Certificate      Beginning
                        Class      Pass-Through     Certificate      Interest
Class      CUSIP     Description       Rate           Balance      Distribution
------   ---------   -----------   ------------   --------------   ------------
<S>      <C>         <C>           <C>            <C>              <C>
A-1      81744FGY7       SEN         3.65000%     179,701,720.76     546,592.73
A-2      81744FGZ4       SEN         3.36000%     107,235,909.02     300,260.55
A-R      81744FHJ9       REZ         4.01355%               0.00           0.36
X-A      81744FHD2        IO         0.76765%               0.00     183,555.53
B-1      81744FHA8       SUB         3.82000%       6,016,000.00      19,150.93
B-2      81744FHB6       SUB         4.10000%       3,266,000.00      11,158.83
X-B      81744FHE0        IO         0.39169%               0.00       3,029.73
B-3      81744FHC4       SUB         4.31021%       1,890,000.00       6,788.59
B-4      81744FHF7       SUB         4.31021%       1,231,000.00       4,421.56
B-5      81744FHG5       SUB         4.31021%         687,000.00       2,467.60
B-6      81744FHH3       SUB         4.31021%       1,549,605.55       5,565.94
                                                  --------------   ------------
Totals                                            301,577,235.33   1,082,992.35
                                                  ==============   ============

<CAPTION>
                          Current       Ending                       Cumulative
           Principal     Realized     Certificate        Total        Realized
Class     Distribution     Loss         Balance       Distribution      Loss
------   -------------   --------   --------------   -------------   ----------
<S>      <C>             <C>        <C>              <C>             <C>
A-1       9,444,496.25     0.00     170,257,224.51    9,991,088.98      0.00
A-2       5,481,959.47     0.00     101,753,949.55    5,782,220.02      0.00
A-R               0.00     0.00               0.00            0.36      0.00
X-A               0.00     0.00               0.00      183,555.53      0.00
B-1               0.00     0.00       6,016,000.00       19,150.93      0.00
B-2               0.00     0.00       3,266,000.00       11,158.83      0.00
X-B               0.00     0.00               0.00        3,029.73      0.00
B-3               0.00     0.00       1,890,000.00        6,788.59      0.00
B-4               0.00     0.00       1,231,000.00        4,421.56      0.00
B-5               0.00     0.00         687,000.00        2,467.60      0.00
B-6               0.00     0.00       1,549,605.55        5,565.94      0.00
         -------------     ----     --------------   -------------      ----
Totals   14,926,455.72     0.00     286,650,779.61   16,009,448.07      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        Certificate      Principal      Principal                 Realized
Class      Face Amount        Balance      Distribution    Distribution   Accretion   Loss (1)
------   --------------   --------------   ------------   -------------   ---------   --------
<S>      <C>              <C>              <C>            <C>             <C>         <C>
A-1      202,462,000.00   179,701,720.76        0.00       9,444,496.25      0.00       0.00
A-2      126,737,000.00   107,235,909.02      488.24       5,481,471.23      0.00       0.00
A-R              100.00             0.00        0.00               0.00      0.00       0.00
X-A                0.00             0.00        0.00               0.00      0.00       0.00
B-1        6,016,000.00     6,016,000.00        0.00               0.00      0.00       0.00
B-2        3,266,000.00     3,266,000.00        0.00               0.00      0.00       0.00
X-B                0.00             0.00        0.00               0.00      0.00       0.00
B-3        1,890,000.00     1,890,000.00        0.00               0.00      0.00       0.00
B-4        1,231,000.00     1,231,000.00        0.00               0.00      0.00       0.00
B-5          687,000.00       687,000.00        0.00               0.00      0.00       0.00
B-6        1,549,605.55     1,549,605.55        0.00               0.00      0.00       0.00
         --------------   --------------      ------      -------------      ----       ----
Totals   343,838,705.55   301,577,235.33      488.24      14,925,967.48      0.00       0.00
         ==============   ==============      ======      =============      ====       ====

<CAPTION>
                               Ending          Ending         Total
         Total Principal     Certificate    Certificate     Principal
Class       Reduction          Balance       Percentage    Distribution
------   ---------------   --------------   -----------   -------------
<S>      <C>               <C>              <C>           <C>
A-1        9,444,496.25    170,257,224.51    0.84093422    9,444,496.25
A-2        5,481,959.47    101,753,949.55    0.80287485    5,481,959.47
A-R                0.00              0.00    0.00000000            0.00
X-A                0.00              0.00    0.00000000            0.00
B-1                0.00      6,016,000.00    1.00000000            0.00
B-2                0.00      3,266,000.00    1.00000000            0.00
X-B                0.00              0.00    0.00000000            0.00
B-3                0.00      1,890,000.00    1.00000000            0.00
B-4                0.00      1,231,000.00    1.00000000            0.00
B-5                0.00        687,000.00    1.00000000            0.00
B-6                0.00      1,549,605.55    1.00000000            0.00
          -------------    --------------    ----------   -------------
Totals    14,926,455.72    286,650,779.61    0.83367804   14,926,455.72
          =============    ==============    ==========   =============
</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
Class       Amount          Balance      Distribution   Distribution    Accretion    Loss (3)
-----   --------------   -------------   ------------   ------------   ----------   ----------
<S>     <C>              <C>             <C>            <C>            <C>          <C>
A-1     202,462,000.00    887.58246367    0.00000000     46.64824140   0.00000000   0.00000000
A-2     126,737,000.00    846.12945722    0.00385239     43.25075732   0.00000000   0.00000000
A-R             100.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
X-A               0.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-1       6,016,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-2       3,266,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
X-B               0.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-3       1,890,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-4       1,231,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-5         687,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-6       1,549,605.55   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000

<CAPTION>
           Total         Ending          Ending         Total
         Principal     Certificate    Certificate     Principal
Class    Reduction       Balance       Percentage   Distribution
-----   -----------   -------------   -----------   ------------
<S>     <C>           <C>             <C>           <C>
A-1     46.64824140    840.93422227    0.84093422    46.64824140
A-2     43.25460970    802.87484752    0.80287485    43.25460970
A-R      0.00000000      0.00000000    0.00000000     0.00000000
X-A      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
X-B      0.00000000      0.00000000    0.00000000     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
</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                  Total
          Original Face   Certificate      Notional         Accrued      Interest     Interest    Interest   Realized     Interest
Class        Amount          Rate           Balance        Interest      Shortfall   Shortfall   Shortfall   Loss (4)   Distribution
------   --------------   -----------   --------------   ------------   ----------   ---------   ---------   --------   ------------
<S>      <C>              <C>           <C>              <C>            <C>          <C>         <C>         <C>        <C>
A-1      202,462,000.00     3.65000%    179,701,720.76     546,592.73      0.00         0.00        0.00       0.00       546,592.73
A-2      126,737,000.00     3.36000%    107,235,909.02     300,260.55      0.00         0.00        0.00       0.00       300,260.55
A-R              100.00     4.01355%              0.00           0.00      0.00         0.00        0.00       0.00             0.36
X-A                0.00     0.76765%    286,937,629.78     183,555.53      0.00         0.00        0.00       0.00       183,555.53
B-1        6,016,000.00     3.82000%      6,016,000.00      19,150.93      0.00         0.00        0.00       0.00        19,150.93
B-2        3,266,000.00     4.10000%      3,266,000.00      11,158.83      0.00         0.00        0.00       0.00        11,158.83
X-B                0.00     0.39169%      9,282,000.00       3,029.73      0.00         0.00        0.00       0.00         3,029.73
B-3        1,890,000.00     4.31021%      1,890,000.00       6,788.59      0.00         0.00        0.00       0.00         6,788.59
B-4        1,231,000.00     4.31021%      1,231,000.00       4,421.56      0.00         0.00        0.00       0.00         4,421.56
B-5          687,000.00     4.31021%        687,000.00       2,467.60      0.00         0.00        0.00       0.00         2,467.60
B-6        1,549,605.55     4.31021%      1,549,605.55       5,565.94      0.00         0.00        0.00       0.00         5,565.94
         --------------                                  ------------      ----         ----        ----       ----     ------------
Totals   343,838,705.55                                  1,082,991.99      0.00         0.00        0.00       0.00     1,082,992.35
         ==============                                  ============      ====         ====        ====       ====     ============

<CAPTION>
         Remaining       Ending
           Unpaid     Certificate/
          Interest     Notational
Class    Shortfall       Balance
------   ---------   --------------
<S>      <C>         <C>
A-1         0.00      170,257,24.51
A-2         0.00     101,753,949.55
A-R         0.00               0.00
X-A         0.00     272,011,174.06
B-1         0.00       6,016,000.00
B-2         0.00       3,266,000.00
X-B         0.00       9,282,000.00
B-3         0.00       1,890,000.00
B-4         0.00       1,231,000.00
B-5         0.00         687,000.00
B-6         0.00       1,549,605.55
            ----
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>
                                              Beginning                  Payment of                   Non-
                                             Certificate/     Current      Unpaid       Current     Supported
Class    Original Face        Current          Notional       Accrued     Interest     Interest     Interest     Realized
 (5)         Amount      Certificate Rate      Balance       Interest     Shortfall    Shortfall    Shortfall    Loss (6)
-----   --------------   ----------------   -------------   ----------   ----------   ----------   ----------   ----------
<S>     <C>              <C>                <C>             <C>          <C>          <C>          <C>          <C>
A-1     202,462,000.00       3.65000%        887.58246367   2.69972997   0.00000000   0.00000000   0.00000000   0.00000000
A-2     126,737,000.00       3.36000%        846.12945722   2.36916252   0.00000000   0.00000000   0.00000000   0.00000000
A-R             100.00       4.01355%          0.00000000   0.00000000   0.00000000   0.00000000   0.00000000   0.00000000
X-A               0.00       0.76765%        871.62363731   0.55758228   0.00000000   0.00000000   0.00000000   0.00000000
B-1       6,016,000.00       3.82000%       1000.00000000   3.18333278   0.00000000   0.00000000   0.00000000   0.00000000
B-2       3,266,000.00       4.10000%       1000.00000000   3.41666565   0.00000000   0.00000000   0.00000000   0.00000000
X-B               0.00       0.39169%       1000.00000000   0.32640918   0.00000000   0.00000000   0.00000000   0.00000000
B-3       1,890,000.00       4.31021%       1000.00000000   3.59184656   0.00000000   0.00000000   0.00000000   0.00000000
B-4       1,231,000.00       4.31021%       1000.00000000   3.59184403   0.00000000   0.00000000   0.00000000   0.00000000
B-5         687,000.00       4.31021%       1000.00000000   3.59184862   0.00000000   0.00000000   0.00000000   0.00000000
B-6       1,549,605.55       4.31021%       1000.00000000   3.59184310   0.00000000   0.00000000   0.00000000   0.00000000

<CAPTION>
                          Remaining       Ending
                           Unpaid      Certificate/
Class   Total Interest    Interest      Notational
 (5)     Distribution     Shortfall      Balance
-----   --------------   ----------   -------------
<S>     <C>              <C>          <C>
A-1       2.69972997     0.00000000    840.93422227
A-2       2.36916252     0.00000000    802.87484752
A-R       3.60000000     0.00000000      0.00000000
X-A       0.55758228     0.00000000    826.28189654
B-1       3.18333278     0.00000000   1000.00000000
B-2       3.41666565     0.00000000   1000.00000000
X-B       0.32640918     0.00000000   1000.00000000
B-3       3.59184656     0.00000000   1000.00000000
B-4       3.59184403     0.00000000   1000.00000000
B-5       3.59184862     0.00000000   1000.00000000
B-6       3.59184310     0.00000000   1000.00000000
</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                              16,099,177.62
   Liquidations, Insurance Proceeds, Reserve Funds                          0.00
   Proceeds from Repurchased Loans                                          0.00
   Other Amounts (Servicer Advances)                                   26,964.39
   Realized Losses (Gains, Subsequent Expenses & Recoveries)                0.00
   Prepayment Penalties                                                     0.00
                                                                   -------------
Total Deposits                                                     16,126,142.01

Withdrawals
   Reimbursement for Servicer Advances                                 16,309.56
   Payment of Service Fee                                             100,384.38
   Payment of Interest and Principal                               16,009,448.07
                                                                   -------------
Total Withdrawals (Pool Distribution Amount)                       16,126,142.01

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                                                    95,986.37
Master Servicing Fee                                                    4,398.01
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------
Net Servicing Fee                                                     100,384.38
                                                                      ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
               Beginning     Current      Current    Ending
Account Type    Balance    Withdrawals   Deposits    Balance
------------   ---------   -----------   --------   --------
<S>            <C>         <C>           <C>        <C>
Reserve Fund    4,500.00       0.00        0.00     4,500.00
Reserve Fund    4,500.00       0.00        0.00     4,500.00
Reserve Fund    1,000.00       0.00        0.00     1,000.00
</TABLE>
<PAGE>
             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
            DELINQUENT                        BANKRUPTCY                       FORECLOSURE
---------------------------------   ------------------------------   ------------------------------
            No. of     Principal                No. of   Principal               No. of   Principal
             Loans      Balance                  Loans    Balance                 Loans    Balance
            ------   ------------               ------   ---------               ------   ---------
<S>         <C>      <C>            <C>         <C>      <C>         <C>         <C>      <C>
0-29 Days      0             0.00   0-29 Days      0        0.00     0-29 Days      0        0.00
30 Days       12     7,114,911.48   30 Days        0        0.00     30 Days        0        0.00
60 Days        0             0.00   60 Days        0        0.00     60 Days        0        0.00
90 Days        0             0.00   90 Days        0        0.00     90 Days        0        0.00
120 Days       0             0.00   120 Days       0        0.00     120 Days       0        0.00
150 Days       0             0.00   150 Days       0        0.00     150 Days       0        0.00
180+ Days      0             0.00   180+ Days      0        0.00     180+ Days      0        0.00
             ---     ------------                ---        ----                  ---        ----
              12     7,114,911.48                  0        0.00                    0        0.00

<CAPTION>
              REO                              TOTAL
------------------------------   ---------------------------------
            No. of   Principal               No. of     Principal
             Loans    Balance                 Loans      Balance
            ------   ---------               ------   ------------
<S>         <C>      <C>         <C>         <C>      <C>
0-29 Days      0        0.00     0-29 Days      0             0.00
30 Days        0        0.00     30 Days       12     7,114,911.48
60 Days        0        0.00     60 Days        0             0.00
90 Days        0        0.00     90 Days        0             0.00
120 Days       0        0.00     120 Days       0             0.00
150 Days       0        0.00     150 Days       0             0.00
180+ Days      0        0.00     180+ Days      0             0.00
             ---        ----                  ---     ------------
               0        0.00                   12     7,114,911.48
</TABLE>

<TABLE>
<CAPTION>
           DELINQUENT                         BANKRUPTCY                         FORECLOSURE
--------------------------------   --------------------------------   --------------------------------
             No. of    Principal                No. of    Principal                No. of    Principal
              Loans     Balance                  Loans     Balance                  Loans     Balance
            --------   ---------               --------   ---------               --------   ---------
<S>         <C>        <C>         <C>         <C>        <C>         <C>         <C>        <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     1.503759%  2.482068%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------                --------   --------
            1.503759%  2.482068%               0.000000%  0.000000%               0.000000%  0.000000%

<CAPTION>
               REO                               TOTAL
--------------------------------   --------------------------------
             No. of    Principal                No. of    Principal
              Loans     Balance                  Loans     Balance
            --------   ---------               --------   ---------
<S>         <C>        <C>         <C>         <C>        <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     0.000000%  0.000000%   30 Days     1.503759%  2.482068%
60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------
            0.000000%  0.000000%               1.503759%  2.482068%
</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  26,964.39
</TABLE>

<TABLE>
<CAPTION>
              Original $     Original%     Current $      Current %   Current Class %   Prepayment %
            -------------   ----------   -------------   ----------   ---------------   ------------
<S>         <C>             <C>          <C>             <C>          <C>               <C>
Class A     14,639,605.55   4.25769563%  14,639,605.55   5.10712218%     94.892878%       0.000000%
Class B-1    8,623,605.55   2.50803805%   8,623,605.55   3.00840122%      2.098721%      41.094003%
Class B-2    5,357,605.55   1.55817407%   5,357,605.55   1.86903575%      1.139365%      22.309344%
Class B-3    3,467,605.55   1.00849773%   3,467,605.55   1.20969688%      0.659339%      12.910184%
Class B-4    2,236,605.55   0.65048103%   2,236,605.55   0.78025448%      0.429442%       8.408697%
Class B-5    1,549,605.55   0.45067804%   1,549,605.55   0.54059004%      0.239664%       4.692749%
Class B-6            0.00   0.00000000%           0.00   0.00000000%      0.540590%      10.585023%
</TABLE>

Please refer to the prospectus supplement for a full description of loss
exposure
<PAGE>
                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
            DELINQUENT                        BANKRUPTCY                       FORECLOSURE
---------------------------------   ------------------------------   ------------------------------
GROUP ONE

            No. of     Principal                No. of   Principal               No. of   Principal
             Loans      Balance                  Loans    Balance                 Loans    Balance
            ------   ------------               ------   ---------               ------   ---------
<S>         <C>      <C>            <C>         <C>      <C>         <C>         <C>      <C>
0-29 Days      0             0.00   0-29 Days      0        0.00     0-29 Days      0        0.00
30 Days        8     5,254,621.15   30 Days        0        0.00     30 Days        0        0.00
60 Days        0             0.00   60 Days        0        0.00     60 Days        0        0.00
90 Days        0             0.00   90 Days        0        0.00     90 Days        0        0.00
120 Days       0             0.00   120 Days       0        0.00     120 Days       0        0.00
150 Days       0             0.00   150 Days       0        0.00     150 Days       0        0.00
180+ Days      0             0.00   180+ Days      0        0.00     180+ Days      0        0.00
             ---     ------------                ---        ----                  ---        ----
               8     5,254,621.15                  0        0.00                    0        0.00

<CAPTION>
              REO                              TOTAL
------------------------------   ---------------------------------

            No. of   Principal               No. of     Principal
             Loans    Balance                 Loans      Balance
            ------   ---------               ------   ------------
<C>         <C>      <C>         <C>         <C>      <C>
0-29 Days      0        0.00     0-29 Days      0             0.00
30 Days        0        0.00     30 Days        8     5,254,621.15
60 Days        0        0.00     60 Days        0             0.00
90 Days        0        0.00     90 Days        0             0.00
120 Days       0        0.00     120 Days       0             0.00
150 Days       0        0.00     150 Days       0             0.00
180+ Days      0        0.00     180+ Days      0             0.00
             ---        ----                  ---     ------------
               0        0.00                    8     5,254,621.15
</TABLE>

<TABLE>
<CAPTION>
           DELINQUENT                         BANKRUPTCY                         FORECLOSURE
--------------------------------   --------------------------------   --------------------------------
              No. of   Principal                No. of    Principal                No. of    Principal
              Loans     Balance                  Loans     Balance                  Loans     Balance
            --------   ---------               --------   ---------               --------   ---------
<S>         <C>        <C>         <C>         <C>        <C>         <C>         <C>        <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     1.646091%  2.931087%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------                --------   --------
            1.646091%  2.931087%               0.000000%  0.000000%               0.000000%  0.000000%

<CAPTION>
               REO                               TOTAL
--------------------------------   --------------------------------
             No. of    Principal                No. of    Principal
              Loans     Balance                  Loans     Balance
            --------   ---------               --------   ---------
<C>         <C>        <C>         <C>         <C>        <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     0.000000%  0.000000%   30 Days     1.646091%  2.931087%
60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------
            0.000000%  0.000000%               1.646091%  2.931087%
</TABLE>

<TABLE>
<CAPTION>
            DELINQUENT                        BANKRUPTCY                       FORECLOSURE
---------------------------------   ------------------------------   ------------------------------
GROUP TWO                                      1.183654%

            No. of     Principal                No. of   Principal               No. of   Principal
             Loans      Balance                  Loans    Balance                 Loans    Balance
            ------   ------------               ------   ---------               ------   ---------
<S>         <C>      <C>            <C>         <C>      <C>         <C>         <C>      <C>
0-29 Days      0             0.00   0-29 Days      0       0.00      0-29 Days      0        0.00
30 Days        4     1,860,290.33   30 Days        0       0.00      30 Days        0        0.00
60 Days        0             0.00   60 Days        0       0.00      60 Days        0        0.00
90 Days        0             0.00   90 Days        0       0.00      90 Days        0        0.00
120 Days       0             0.00   120 Days       0       0.00      120 Days       0        0.00
150 Days       0             0.00   150 Days       0       0.00      150 Days       0        0.00
180+ Days      0             0.00   180+ Days      0       0.00      180+ Days      0        0.00
             ---     ------------                ---       ----                   ---        ----
               4     1,860,290.33                  0       0.00                     0        0.00

<CAPTION>
              REO                              TOTAL
------------------------------   ---------------------------------

            No. of   Principal               No. of     Principal
             Loans    Balance                 Loans      Balance
            ------   ---------               ------   ------------
<C>         <C>      <C>         <C>         <C>      <C>
0-29 Days      0        0.00     0-29 Days      0             0.00
30 Days        0        0.00     30 Days        4     1,860,290.33
60 Days        0        0.00     60 Days        0             0.00
90 Days        0        0.00     90 Days        0             0.00
120 Days       0        0.00     120 Days       0             0.00
150 Days       0        0.00     150 Days       0             0.00
180+ Days      0        0.00     180+ Days      0             0.00
             ---        ----                  ---     ------------
               0        0.00                    4     1,860,290.33
</TABLE>

<TABLE>
<CAPTION>
           DELINQUENT                         BANKRUPTCY                         FORECLOSURE
--------------------------------   --------------------------------   --------------------------------
              No. of   Principal                No. of    Principal                No. of    Principal
              Loans     Balance                  Loans     Balance                  Loans     Balance
            --------   ---------               --------   ---------               --------   ---------
<S>         <C>        <C>         <C>         <C>        <C>         <C>         <C>        <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     1.282051%  1.732430%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------                --------   --------
            1.282051%  1.732430%               0.000000%  0.000000%               0.000000%  0.000000%

<CAPTION>
               REO                               TOTAL
--------------------------------   --------------------------------
             No. of    Principal                No. of    Principal
              Loans     Balance                  Loans     Balance
            --------   ---------               --------   ---------
<C>         <C>        <C>         <C>         <C>        <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     0.000000%  0.000000%   30 Days     1.282051%  1.732430%
60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------
            0.000000%  0.000000%               1.282051%  1.732430%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<S>                                                              <C>
Collateral Description                                                Mixed ARM

Weighted Average Gross Coupon                                          4.711323%
Weighted Average Net Coupon                                            4.329386%
Weighted Average Pass-Through Rate                                     4.311886%
Weighted Average Maturity (Stepdown Calculation)                            332

Beginning Scheduled Collateral Loan Count                                   835
Number of Loans Paid in Full                                                 37
Ending Scheduled Collateral Loan Count                                      798

Beginning Scheduled Collateral Balance                           301,577,235.33
Ending Scheduled Collateral Balance                              286,650,779.61
Ending Actual Collateral Balance at 29-July-2005                 286,652,504.87

Monthly P&I Constant                                               1,184,511.42
Special Servicing Fee                                                      0.00
Prepayment Penalties                                                       0.00
Realization Loss Amount                                                    0.00
Cumulative Realized Loss                                                   0.00

Class A Optimal Amount                                            15,956,864.53

Scheduled Principal                                                      488.24
Unscheduled Principal                                             14,925,967.48
</TABLE>

<TABLE>
<S>                                                                   <C>
MISCELLANEOUS REPORTING

Pro Rata Senior Percent                                               95.145653%
Pro Rata Subordinate Percent                                           4.854347%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
             GROUP                      ONE              TWO             TOTAL
-------------------------------   --------------   --------------   --------------
<S>                               <C>              <C>              <C>
Collateral Description                 Mixed ARM        Mixed ARM        Mixed ARM
Weighted Average Coupon Rate            4.677622         4.767675         4.711323
Weighted Average Net Rate               4.297311         4.383018         4.329386
Pass-Through Rate                       4.279811         4.365518         4.311886
Weighted Average Maturity                    329              337              332
Record Date                           07/29/2005       07/29/2005       07/29/2005
Principal and Interest Constant       735,617.58       448,893.84     1,184,511.42
Beginning Loan Count                         508              327              835
Loans Paid in Full                            22               15               37
Ending Loan Count                            486              312              798
Beginning Scheduled Balance       188,715,773.71   112,861,461.62   301,577,235.33
Ending Scheduled Balance          179,271,277.46   107,379,502.15   286,650,779.61
Scheduled Principal                         0.00           488.24           488.24
Unscheduled Principal               9,444,496.25     5,481,471.23    14,925,967.48
Scheduled Interest                    735,617.58       448,405.60     1,184,023.18
Servicing Fee                          59,808.92        36,177.45        95,986.37
Master Servicing Fee                    2,752.11         1,645.90         4,398.01
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                                   0.00             0.00             0.00
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                          673,056.55       410,582.25     1,083,638.80
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
</TABLE>
<PAGE>
<TABLE>
<S>                                                               <C>
MISCELLANEOUS REPORTING

Group 0ne
One Month Libor Loan Balance                                      98,913,546.21
Principal Transfer Amount                                                  0.00
Senior Percent                                                       100.000000%
Senior Prepayment Percent                                            100.000000%
Subordinate Percent                                                    0.000000%
Subordinate Prepayment Percent                                         0.000000%
Interest Transfer Amount                                                   0.00

Group Two
Six-Month Libor Loan Balance                                      80,357,731.25
Principal Transfer Amount                                                  0.00
Senior Percent                                                       100.000000%
Senior Prepayment Percent                                            100.000000%
Subordinate Percent                                                    0.000000%
Subordinate Prepayment Percent                                         0.000000%
Interest Transfer Amount                                                   0.00
</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 2005-3
                           RECORD DATE: JULY 29, 2005
                       DISTRIBUTION DATE: AUGUST 22, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                     Certificate    Certificate
                         Class     Pass-Through        Beginning          Interest
Class      CUSIP     Description       Rate       Certificate Balance   Distribution
------   ---------   -----------   ------------   -------------------   ------------
<S>      <C>         <C>           <C>            <C>                   <C>
A-R      81744FHN0       SEN         4.50625%                  0.00             0.00
A-1      81744FHK6       SEN         3.63000%        323,949,930.35       979,948.54
B-1      81744FHP5       SUB         3.80000%          6,208,000.00        19,658.67
B-2      81744FHQ3       SUB         4.07000%          3,287,000.00        11,148.41
B-3      81744FHR1       SUB         4.33902%          2,374,000.00         8,584.04
B-4      81744FHS9       SUB         4.33902%          1,095,000.00         3,959.36
B-5      81744FHT7       SUB         4.33902%            731,000.00         2,643.19
B-6      81744FHU4       SUB         4.33902%          1,826,168.26         6,603.16
X-A      81744FHL4        IO         0.70903%                  0.00       191,407.09
X-B      81744FHM2        IO         0.44556%                  0.00         3,525.46
                                                     --------------     ------------
Totals                                               339,471,098.61     1,227,477.92
                                                     ==============     ============

<CAPTION>
                                             Ending
           Principal        Current        Certificate        Total         Cumulative
Class     Distribution   Realized Loss       Balance       Distribution   Realized Loss
------   -------------   -------------   --------------   -------------   -------------
<S>      <C>             <C>             <C>              <C>             <C>
A-R               0.00        0.00                 0.00            0.00        0.00
A-1      13,750,668.56        0.00       310,199,261.79   14,730,617.10        0.00
B-1               0.00        0.00         6,208,000.00       19,658.67        0.00
B-2               0.00        0.00         3,287,000.00       11,148.41        0.00
B-3               0.00        0.00         2,374,000.00        8,584.04        0.00
B-4               0.00        0.00         1,095,000.00        3,959.36        0.00
B-5               0.00        0.00           731,000.00        2,643.19        0.00
B-6               0.00        0.00         1,827,168.26        6,603.16        0.00
X-A               0.00        0.00                 0.00      191,407.09        0.00
X-B               0.00        0.00                 0.00        3,525.46        0.00
         -------------        ----       --------------   -------------        ----
Totals   13,750,668.56        0.00       325,720,430.05   14,978,146.48        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
Class        Amount           Balance      Distribution    Distribution   Accretion   Loss (1)
------   --------------   --------------   ------------   -------------   ---------   --------
<S>      <C>              <C>              <C>            <C>             <C>         <C>
A-R              100.00             0.00         0.00              0.00      0.00       0.00
A-1      349,687,000.00   323,949,930.35     2,933.50     13,747,735.06      0.00       0.00
B-1        6,208,000.00     6,208,000.00         0.00              0.00      0.00       0.00
B-2        3,287,000.00     3,287,000.00         0.00              0.00      0.00       0.00
B-3        2,374,000.00     2,374,000.00         0.00              0.00      0.00       0.00
B-4        1,095,000.00     1,095,000.00         0.00              0.00      0.00       0.00
B-5          731,000.00       731,000.00         0.00              0.00      0.00       0.00
B-6        1,826,168.26     1,826,168.26         0.00              0.00      0.00       0.00
X-A                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
         --------------   --------------     --------     -------------      ----       ----
Totals   365,208,268.26   339,471,098.61     2,933.50     13,747,735.06      0.00       0.00
         ==============   ==============     ========     =============      ====       ====

<CAPTION>
                                Ending         Ending
         Total Principal     Certificate    Certificate   Total Principal
Class       Reduction          Balance       Percentage     Distribution
------   ---------------   --------------   -----------   ---------------
<S>      <C>               <C>              <C>           <C>
A-R                0.00              0.00    0.00000000             0.00
A-1       13,750,668.56    310,199,261.79    0.88707691    13,750,668.56
B-1                0.00      6,208,000.00    1.00000000             0.00
B-2                0.00      3,287,000.00    1.00000000             0.00
B-3                0.00      2,374,000.00    1.00000000             0.00
B-4                0.00      1,095,000.00    1.00000000             0.00
B-5                0.00        731,000.00    1.00000000             0.00
B-6                0.00      1,826,168.26    1.00000000             0.00
X-A                0.00              0.00    0.00000000             0.00
X-B                0.00              0.00    0.00000000             0.00
          -------------    --------------    ----------    -------------
Totals    13,750,668.56    325,720,430.05    0.89187584    13,750,668.56
          =============    ==============    ==========    =============
</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
Class       Amount          Balance      Distribution   Distribution    Accretion    Loss (3)
-----   --------------   -------------   ------------   ------------   ----------   ----------
<S>     <C>              <C>             <C>            <C>            <C>          <C>
A-R             100.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
A-1     349,687,000.00    926.39969558    0.00838893     39.31440134   0.00000000   0.00000000
B-1       6,208,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-2       3,287,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-3       2,374,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-4       1,095,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-5         731,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-6       1,826,168.26   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
X-A               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

<CAPTION>
        Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class      Reduction            Balance            Percentage         Distribution
-----   ---------------   ------------------   ------------------   ---------------
<S>     <C>               <C>                  <C>                  <C>
A-R        0.00000000           0.00000000         0.00000000          0.00000000
A-1       39.32279027         887.07690532         0.88707691         39.32279027
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
X-A        0.00000000           0.00000000         0.00000000          0.00000000
X-B        0.00000000           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-R              100.00       4.50625%                 0.00           0.00      0.00         0.00        0.00       0.00
A-1      349,687,000.00       3.63000%       323,949,930.35     979,948.54      0.00         0.00        0.00       0.00
B-1        6,208,000.00       3.80000%         6,208,000.00      19,658.67      0.00         0.00        0.00       0.00
B-2        3,287,000.00       4.07000%         3,287,000.00      11,148.41      0.00         0.00        0.00       0.00
B-3        2,374,000.00       4.33902%         2,374,000.00       8,584.04      0.00         0.00        0.00       0.00
B-4        1,095,000.00       4.33902%         1,095,000.00       3,959.36      0.00         0.00        0.00       0.00
B-5          731,000.00       4.33902%           731,000.00       2,643.19      0.00         0.00        0.00       0.00
B-6        1,826,168.26       4.33902%         1,826,168.26       6,603.16      0.00         0.00        0.00       0.00
X-A                0.00       0.70903%       323,949,930.35     191,407.09      0.00         0.00        0.00       0.00
X-B                0.00       0.44556%         9,495,000.00       3,525.46      0.00         0.00        0.00       0.00
         --------------                                       ------------      ----         ----        ----       ----
Totals   365,208,268.26                                       1,227,477.92      0.00         0.00        0.00       0.00
         ==============                                       ============      ====         ====        ====       ====

<CAPTION>
                          Remaining       Ending
                            Unpaid     Certificate/
         Total Interest   Interest      Notational
Class     Distribution    Shortfall       Balance
------   --------------   ---------   --------------
<S>      <C>              <C>         <C>
A-R               0.00       0.00               0.00
A-1         979,948.54       0.00     310,199,261.79
B-1          19,658.67       0.00       6,208,000.00
B-2          11,148.41       0.00       3,287,000.00
B-3           8,584.04       0.00       2,374,000.00
B-4           3,959.36       0.00       1,095,000.00
B-5           2,643.19       0.00         731,000.00
B-6           6,603.16       0.00       1,826,168.26
X-A         191,407.09       0.00     310,199,261.79
X-B           3,525.46       0.00       9,495,000.00
          ------------       ----
Totals    1,227,477.92       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-R             100.00     4.50625%         0.00000000       0.00000000     0.00000000   0.00000000   0.00000000   0.00000000
A-1     349,687,000.00     3.63000%       926.39969558       2.80235908     0.00000000   0.00000000   0.00000000   0.00000000
B-1       6,208,000.00     3.80000%      1000.00000000       3.16666720     0.00000000   0.00000000   0.00000000   0.00000000
B-2       3,287,000.00     4.07000%      1000.00000000       3.39166717     0.00000000   0.00000000   0.00000000   0.00000000
B-3       2,374,000.00     4.33902%      1000.00000000       3.61585510     0.00000000   0.00000000   0.00000000   0.00000000
B-4       1,095,000.00     4.33902%      1000.00000000       3.61585388     0.00000000   0.00000000   0.00000000   0.00000000
B-5         731,000.00     4.33902%      1000.00000000       3.61585499     0.00000000   0.00000000   0.00000000   0.00000000
B-6       1,826,168.26     4.33902%      1000.00000000       3.61585520     0.00000000   0.00000000   0.00000000   0.00000000
X-A               0.00     0.70903%       926.39969558       0.54736690     0.00000000   0.00000000   0.00000000   0.00000000
X-B               0.00     0.44556%      1000.00000000       0.37129647     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-R       0.00000000     0.00000000         0.00000000
A-1       2.80235908     0.00000000       887.07690532
B-1       3.16666720     0.00000000      1000.00000000
B-2       3.39166717     0.00000000      1000.00000000
B-3       3.61585510     0.00000000      1000.00000000
B-4       3.61585388     0.00000000      1000.00000000
B-5       3.61585499     0.00000000      1000.00000000
B-6       3.61585520     0.00000000      1000.00000000
X-A       0.54736690     0.00000000       887.07690532
X-B       0.37129647     0.00000000      1000.00000000
</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                              15,032,697.92
   Liquidations, Insurance Proceeds, Reserve Funds                          0.00
   Proceeds from Repurchased Loans                                          0.00
   Other Amounts (Servicer Advances)                                   63,865.23
   Realized Losses (Gains, Subsequent Expenses & Recoveries)                0.00
   Prepayment Penalties                                                     0.00
                                                                   -------------
Total Deposits                                                     15,096,563.15

Withdrawals
   Reimbursement for Servicer Advances                                  7,071.53
   Payment of Service Fee                                             111,345.14
   Payment of Interest and Principal                               14,978,146.48
                                                                   -------------
Total Withdrawals (Pool Distribution Amount)                       15,096,563.15

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                                                   106,677.41
Master Servicing Fee                                                    4,667.73
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------
Net Servicing Fee                                                     111,345.14
                                                                      ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                   Beginning     Current      Current    Ending
Account Type                        Balance    Withdrawals   Deposits    Balance
------------                       ---------   -----------   --------   --------
<S>                                <C>         <C>           <C>        <C>
Reserve Fund                        5,000.00       0.00        0.00     5,000.00
Reserve Fund                        5,000.00       0.00        0.00     5,000.00
</TABLE>
<PAGE>
             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
            DELINQUENT                         BANKRUPTCY                       FORECLOSURE
----------------------------------   ------------------------------   ------------------------------
            No. of     Principal                 No. of   Principal               No. of   Principal
             Loans      Balance                   Loans    Balance                 Loans    Balance
            ------   -------------               ------   ---------               ------   ---------
<S>         <C>      <C>             <C>         <C>      <C>         <C>         <C>      <C>
0-29 Days      0              0.00   0-29 Days      0        0.00     0-29 Days      0        0.00
30 Days       53     16,925,872.58   30 Days        0        0.00     30 Days        0        0.00
60 Days        3        873,270.86   60 Days        0        0.00     60 Days        0        0.00
90 Days        1        100,000.00   90 Days        0        0.00     90 Days        0        0.00
120 Days       0              0.00   120 Days       0        0.00     120 Days       0        0.00
150 Days       0              0.00   150 Days       0        0.00     150 Days       0        0.00
180+ Days      0              0.00   180+ Days      0        0.00     180+ Days      0        0.00
             ---     -------------                ---        ----                  ---        ----
              57     17,899,143.44                  0        0.00                    0        0.00

<CAPTION>
              REO                               TOTAL
------------------------------   ----------------------------------
            No. of   Principal               No. of     Principal
             Loans    Balance                 Loans      Balance
            ------   ---------               ------   -------------
<S>         <C>      <C>         <C>         <C>      <C>
0-29 Days      0       0.00      0-29 Days      0              0.00
30 Days        0       0.00      30 Days       53     16,925,872.58
60 Days        0       0.00      60 Days        3        873,270.86
90 Days        0       0.00      90 Days        1        100,000.00
120 Days       0       0.00      120 Days       0              0.00
150 Days       0       0.00      150 Days       0              0.00
180+ Days      0       0.00      180+ Days      0              0.00
             ---       -----                  ---     -------------
               0       0.00                    57     17,899,143.44
</TABLE>

<TABLE>
<CAPTION>
           DELINQUENT                         BANKRUPTCY                         FORECLOSURE
--------------------------------   --------------------------------   --------------------------------
             No. of    Principal                No. of    Principal                No. of    Principal
              Loans     Balance                  Loans     Balance                  Loans     Balance
            --------   ---------               --------   ---------               --------   ---------
<S>         <C>        <C>         <C>         <C>        <C>         <C>         <C>        <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     5.419223%  5.196389%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.306748%  0.268102%   60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.102249%  0.030701%   90 Days     0.000000%  0.000000%   90 Days     0.000000%  0.000000%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------                --------   --------
            5.828221%  5.495192%               0.000000%  0.000000%               0.000000%  0.000000%

<CAPTION>
               REO                                TOTAL
--------------------------------   ----------------------------------
             No. of    Principal                No. of    Principal
              Loans     Balance                  Loans     Balance
            --------   ---------               --------   ---------
<S>         <C>        <C>         <C>         <C>        <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%  0.000000%
30 Days     0.000000%  0.000000%   30 Days     5.419223%  5.196389%
60 Days     0.000000%  0.000000%   60 Days     0.306748%  0.268102%
90 Days     0.000000%  0.000000%   90 Days     0.102249%  0.030701%
120 Days    0.000000%  0.000000%   120 Days    0.000000%  0.000000%
150 Days    0.000000%  0.000000%   150 Days    0.000000%  0.000000%
180+ Days   0.000000%  0.000000%   180+ Days   0.000000%  0.000000%
            --------   --------                --------   --------
            0.000000%  0.000000%               5.828221%  5.495192%
</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  63,865.23
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<S>                                                              <C>
Collateral Description                                                Mixed ARM

Weighted Average Gross Coupon                                          4.732619%
Weighted Average Net Coupon                                            4.355524%
Weighted Average Pass-Through Rate                                     4.339024%
Weighted Average Maturity (Stepdown Calculation)                            334

Beginning Scheduled Collateral Loan Count                                 1,012
Number of Loans Paid in Full                                                 34
Ending Scheduled Collateral Loan Count                                      978

Beginning Scheduled Collateral Balance                           339,471,098.61
Ending Scheduled Collateral Balance                              325,720,430.05
Ending Actual Collateral Balance at 29-July-2005                 325,723,709.36

Monthly P&I Constant                                               1,341,756.39
Special Servicing Fee                                                      0.00
Prepayment Penalties                                                       0.00
Realized Loss Amount                                                       0.00
Cumulative Realized Loss                                                   0.00

Scheduled Principal                                                    2,933.50
Unscheduled Principal                                             13,747,735.06
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                    <C>
Senior Percentage                                                      0.000000%
Senior Prepayment Percentage                                           1.000000%
Subordinate Prepayment Percentage                                      0.000000%
Subordinate Percentage                                                 0.000000%
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]