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 2004-12
                           RECORD DATE: JULY 29, 2005
                       DISTRIBUTION DATE: AUGUST 22, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                                   Certificate
                     Certificate      Pass-         Beginning
                        Class        Through       Certificate      Interest
Class      CUSIP     Description       Rate          Balance      Distribution
------   ---------   -----------   -----------   --------------   ------------
<S>      <C>         <C>           <C>           <C>              <C>
A-1      81744FFY8       SEN         3.70000%    326,064,880.05   1,005,366.71
A-2      81744FFZ5       SEN         3.93000%    166,541,492.65     545,423.39
A-3      81744FGZ9       SEN         3.96000%    167,302,474.80     552,098.17
X-A1     81744FGC5        IO         0.57113%              0.00     234,453.04
X-A2     81744FGD3        IO         0.84970%              0.00     118,463.97
X-B      81744FGF8        IO         0.22268%              0.00       2,415.69
B-1      81744FGG6       SUB         3.93000%      8,588,000.00      28,125.70
B-2      81744FGH4       SUB         4.28000%      6,134,000.00      21,877.93
B-3      81744FGJ0       SUB         4.68000%      3,680,000.00      14,352.00
B-4      81744FGK7       SUB         4.35418%      2,453,000.00       8,900.67
B-5      81744FGK7       SUB         4.35418%        920,000.00       3,338.20
B-6      81744FGL5       SUB         4.35418%      2,762,778.00      10,024.69
A-R      81744FGE1       RES         4.34575%              0.00           0.22
                                                 --------------   ------------
Totals                                           684,446,625.50   2,544,840.38
                                                 ==============   ============

<CAPTION>

                          Current       Ending                       Cumulative
           Principal     Realized     Certificate        Total        Realized
Class     Distribution     Loss         Balance       Distribution      Loss
------   -------------   --------   --------------   -------------   ----------
<S>      <C>             <C>        <C>              <C>             <C>
A-1      18,578,621.87     0.00     307,486,258.18   19,583,988.58      0.00
A-2       7,696,384.25     0.00     158,845,108.40    8,241,807.64      0.00
A-3      15,434,512.19     0.00     151,867,962.61   15,986,610.36      0.00
X-A1              0.00     0.00               0.00      234,453.04      0.00
X-A2              0.00     0.00               0.00      118,463.97      0.00
X-B               0.00     0.00               0.00        2,415.69      0.00
B-1               0.00     0.00       8,588,000.00       28,125.70      0.00
B-2               0.00     0.00       6,134,000.00       21,877.93      0.00
B-3               0.00     0.00       3,680,000.00       14,352.00      0.00
B-4               0.00     0.00       2,453,000.00        8,900.67      0.00
B-5               0.00     0.00         920,000.00        3,338.20      0.00
B-6               0.00     0.00       2,762,778.00       10,024.69      0.00
A-R               0.00     0.00               0.00            0.22      0.00
         -------------     ----     --------------   -------------      ----
Totals   41,709,518.31     0.00     642,737,107.19   44,254,358.69      0.00
         =============     ====     ==============   =============      ====
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
<PAGE>
                    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      380,510,000.00   326,064,880.05       987.45     18,577,634.42      0.00       0.00
A-2      208,392,000.00   166,541,492.65       501.95      7,695,882.30      0.00       0.00
A-3      218,330,615.00   167,302,474.80         0.00     15,434,512.19      0.00       0.00
X-A1               0.00             0.00         0.00              0.00      0.00       0.00
X-A2               0.00             0.00         0.00              0.00      0.00       0.00
X-B                0.00             0.00         0.00              0.00      0.00       0.00
B-1        8,588,000.00     8,588,000.00         0.00              0.00      0.00       0.00
B-2        6,134,000.00     6,134,000.00         0.00              0.00      0.00       0.00
B-3        3,680,000.00     3,680,000.00         0.00              0.00      0.00       0.00
B-4        2,453,000.00     2,453,000.00         0.00              0.00      0.00       0.00
B-5          920,000.00       920,000.00         0.00              0.00      0.00       0.00
B-6        2,762,778.00     2,762,778.00         0.00              0.00      0.00       0.00
A-R              100.00             0.00         0.00              0.00      0.00       0.00
         --------------   --------------     --------     -------------      ----       ----
Totals   831,770,493.00   684,446,625.50     1,489.40     41,708,028.91      0.00       0.00
         ==============   ==============     ========     =============      ====       ====

<CAPTION>
             Total           Ending          Ending         Total
           Principal       Certificate    Certificate     Principal
Class      Reduction         Balance       Percentage    Distribution
------   -------------   --------------   -----------   -------------
<S>      <C>             <C>              <C>           <C>
A-1      18,578,621.87   307,486,258.18   0.80808982    18,578,621.87
A-2       7,696,384.25   158,845,108.40   0.76224187     7,696,384.25
A-3      15,434,512.19   151,867,962.61   0.69558712    15,434,512.19
X-A1              0.00             0.00   0.00000000             0.00
X-A2              0.00             0.00   0.00000000             0.00
X-B               0.00             0.00   0.00000000             0.00
B-1               0.00     8,588,000.00   1.00000000             0.00
B-2               0.00     6,134,000.00   1.00000000             0.00
B-3               0.00     3,680,000.00   1.00000000             0.00
B-4               0.00     2,453,000.00   1.00000000             0.00
B-5               0.00       920,000.00   1.00000000             0.00
B-6               0.00     2,762,778.00   1.00000000             0.00
A-R               0.00             0.00   0.00000000             0.00
         -------------   --------------   ----------    -------------
Totals   41,709,518.31   642,737,107.19   0.77273372    41,709,518.31
         =============   ==============   ==========    =============
</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.

                PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                           Beginning       Scheduled     Unscheduled
           Original       Certificate      Principal      Principal                  Realized
Class     Face Amount       Balance      Distribution   Distribution    Accretion    Loss (3)
-----   --------------   -------------   ------------   ------------   ----------   ----------
<S>     <C>              <C>             <C>            <C>            <C>          <C>
A-1     380,510,000.00    856.91540314    0.00259507     48.82298605   0.00000000   0.00000000
A-2     208,392,000.00    799.17411729    0.00240868     36.92983560   0.00000000   0.00000000
A-3     218,330,615.00    766.28041743    0.00000000     70.69330240   0.00000000   0.00000000
X-A1              0.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
X-A2              0.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
X-B               0.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-1       8,588,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-2       6,134,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-3       3,680,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-4       2,453,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-5         920,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-6       2,762,778.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
A-R             100.00      0.00000000    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     48.82558111    808.08982203    0.80808982    48.82558111
A-2     36.93224428    762.24187301    0.76224187    36.93224428
A-3     70.69330240    695.58711503    0.69558712    70.69330240
X-A1     0.00000000      0.00000000    0.00000000     0.00000000
X-A2     0.00000000      0.00000000    0.00000000     0.00000000
X-B      0.00000000      0.00000000    0.00000000     0.00000000
B-1      0.00000000   1000.00000000    1.00000000     0.00000000
B-2      0.00000000   1000.00000000    1.00000000     0.00000000
B-3      0.00000000   1000.00000000    1.00000000     0.00000000
B-4      0.00000000   1000.00000000    1.00000000     0.00000000
B-5      0.00000000   1000.00000000    1.00000000     0.00000000
B-6      0.00000000   1000.00000000    1.00000000     0.00000000
A-R      0.00000000      0.00000000    0.00000000     0.00000000
</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.
<PAGE>
                        INTEREST DISTRIBUTION - STATEMENT

<TABLE>
<CAPTION>
                                           Beginning                     Payment                   Non-
            Original        Current      Certificate/       Current     of Unpaid    Current    Supported
              Face        Certificate      Notional         Accrued      Interest    Interest    Interest   Realized
Class        Amount           Rate          Balance        Interest     Shortfall   Shortfall   Shortfall   Loss (4)
------   --------------   -----------   --------------   ------------   ---------   ---------   ---------   --------
<S>      <C>              <C>           <C>              <C>            <C>         <C>         <C>         <C>
A-1      380,510,000.00     3.70000%    326,064,880.05   1,005,366.71      0.00        0.00        0.00       0.00
A-2      208,392,000.00     3.93000%    166,541,492.65     545,423.39      0.00        0.00        0.00       0.00
A-3      218,330,615.00     3.96000%    167,302,474.80     552,098.17      0.00        0.00        0.00       0.00
X-A1               0.00     0.57113%    492,606,372.70     234,453.04      0.00        0.00        0.00       0.00
X-A2               0.00     0.84970%    167,302,474.80     118,463.97      0.00        0.00        0.00       0.00
X-B                0.00     0.22268%     18,402,000.00       3,414.88      0.00        0.00        0.00       0.00
B-1        8,588,000.00     3.93000%      8,588,000.00      28,125.70      0.00        0.00        0.00       0.00
B-2        6,134,000.00     4.28000%      6,134,000.00      21,877.93      0.00        0.00        0.00       0.00
B-3        3,680,000.00     4.68000%      3,680,000.00      14,352.00      0.00        0.00        0.00       0.00
B-4        2,453,000.00     4.35418%      2,453,000.00       8,900.67      0.00        0.00        0.00       0.00
B-5          920,000.00     4.35418%        920,000.00       3,338.20      0.00        0.00        0.00       0.00
B-6        2,762,778.00     4.35418%      2,762,778.00      10,024.69      0.00        0.00        0.00       0.00
A-R              100.00     4.34575%              0.00           0.00      0.00        0.00        0.00       0.00
         --------------                                  ------------      ----        ----        ----       ----
Totals   831,770,493.00                                  2,545,839.35      0.00        0.00        0.00       0.00
         ==============                                  ============      ====        ====        ====       ====

<CAPTION>
                        Remaining       Ending
            Total         Unpaid     Certificate/
           Interest      Interest     Notational
Class    Distribution   Shortfall       Balance
------   ------------   ---------   --------------
<S>      <C>            <C>         <C>
A-1      1,005,366.71      0.00     307,486,258.18
A-2        545,423.39      0.00     158,845,108.40
A-3        552,098.17      0.00     151,867,962.61
X-A1       234,453.04      0.00     466,331,366.58
X-A2       118,463.97      0.00     151,867,962.61
X-B          2,415.69      0.00      18,402,000.00
B-1         28,125.70      0.00       8,588,000.00
B-2         21,877.93      0.00       6,134,000.00
B-3         14,352.00      0.00       3,680,000.00
B-4          8,900.67      0.00       2,453,000.00
B-5          3,338.20      0.00         920,000.00
B-6         10,024.69      0.00       2,762,778.00
A-R              0.22      0.00               0.00
         ------------      ----
Totals   2,544,840.38      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.

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                             Beginning                    Payment                    Non-
               Original        Current      Certificate/     Current     of Unpaid     Current     Supported
                 Face        Certificate      Notional       Accrued     Interest     Interest     Interest     Realized
Class (5)       Amount           Rate         Balance       Interest     Shortfall    Shortfall    Shortfall    Loss (6)
---------   --------------   -----------   -------------   ----------   ----------   ----------   ----------   ----------
<S>         <C>              <C>           <C>             <C>          <C>          <C>          <C>          <C>
A-1         380,510,000.00     3.70000%     856.91540314   2.64215582   0.00000000   0.00000000   0.00000000   0.00000000
A-2         208,392,000.00     3.93000%     799.17411729   2.61729524   0.00000000   0.00000000   0.00000000   0.00000000
A-3         218,330,615.00     3.96000%     766.28041743   2.52872539   0.00000000   0.00000000   0.00000000   0.00000000
X-A1                  0.00     0.57113%     836.48276403   0.39811894   0.00000000   0.00000000   0.00000000   0.00000000
X-A2                  0.00     0.84970%     766.28041743   0.54258982   0.00000000   0.00000000   0.00000000   0.00000000
X-B                   0.00     0.22268%    1000.00000000   0.18557113   0.00000000   0.00000000   0.00000000   0.00000000
B-1           8,588,000.00     3.93000%    1000.00000000   3.27500000   0.00000000   0.00000000   0.00000000   0.00000000
B-2           6,134,000.00     4.28000%    1000.00000000   3.56666612   0.00000000   0.00000000   0.00000000   0.00000000
B-3           3,680,000.00     4.68000%    1000.00000000   3.90000000   0.00000000   0.00000000   0.00000000   0.00000000
B-4           2,453,000.00     4.35418%    1000.00000000   3.62848349   0.00000000   0.00000000   0.00000000   0.00000000
B-5             920,000.00     4.35418%    1000.00000000   3.62847826   0.00000000   0.00000000   0.00000000   0.00000000
B-6           2,762,778.00     4.35418%    1000.00000000   3.62848191   0.00000000   0.00000000   0.00000000   0.00000000
A-R                 100.00     4.34575%       0.00000000   0.00000000   0.00000000   0.00000000   0.00000000   0.00000000

<CAPTION>
                           Remaining       Ending
               Total        Unpaid      Certificate/
             Interest      Interest      Notational
Class(5)   Distribution    Shortfall      Balance
--------   ------------   ----------   -------------
<S>        <C>            <C>          <C>
A-1         2.64215582    0.00000000    808.08982203
A-2         2.61729524    0.00000000    762.24187301
A-3         2.52872539    0.00000000    695.58711503
X-A1        0.39811894    0.00000000    791.86582246
X-A2        0.54258982    0.00000000    695.58711503
X-B         0.13127323    0.00000000   1000.00000000
B-1         3.27500000    0.00000000   1000.00000000
B-2         3.56666612    0.00000000   1000.00000000
B-3         3.90000000    0.00000000   1000.00000000
B-4         3.62848349    0.00000000   1000.00000000
B-5         3.62847826    0.00000000   1000.00000000
B-6         3.62848191    0.00000000   1000.00000000
A-R         2.20000000    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.
<PAGE>
                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                                <C>
Beginning Balance                                                           0.00
Deposits
   Payments of Interest and Principal                              44,396,340.67
   Liquidations, Insurance Proceeds, Reserve Funds                          0.00
   Proceeds from Repurchased Loans                                          0.00
   Other Amounts (Servicer Advances)                                   24,453.55
   Realized Losses (Gains, Subsequent Expenses & Recoveries)                0.00
   Prepayment Penalties                                                     0.00
                                                                   -------------
Total Deposits                                                     44,420,794.22
Withdrawals
   Reimbursement for Servicer Advances                                    460.93
   Payment of Service Fee                                             165,974.60
   Payment of Interest and Principal                               44,254,358.69
                                                                   -------------
Total Withdrawals (Pool Distribution Amount)                       44,420,794.22
Ending Balance                                                              0.00
                                                                   =============
</TABLE>

                    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                                                   161,665.07
Master Servicing Fee                                                    4,309.53
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------
Net Servicing Fee                                                     165,974.60
                                                                      ==========
</TABLE>
<PAGE>
                                  OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                     Beginning     Current      Current    Ending
           Account Type               Balance    Withdrawals   Deposits    Balance
----------------------------------   ---------   -----------   --------   --------
<S>                                  <C>         <C>           <C>        <C>
Class X-A1 Pool 1 Comp. Sub Amount    3,000.00        0.00        0.00    3,000.00
Class X-A1 Pool 2 Comp. Sub Amount    3,000.00        0.00        0.00    3,000.00
Class X-A2 Sub Amount                 3,000.00        0.00        0.00    3,000.00
Class X-B Sub Amount                  1,000.00      999.19      999.19    1,000.00
</TABLE>

             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       18     5,327,973.31   30 Days        0        0.00     30 Days        0        0.00
60 Days        3     1,011,890.45   60 Days        0        0.00     60 Days        0        0.00
90 Days        1       142,741.83   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
             ---     ------------                ---        ----                  ---        ----
              22     6,482,605.59                  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       18     5,327,973.31
60 Days        0        0.00     60 Days        3     1,011,890.45
90 Days        0        0.00     90 Days        1       142,741.83
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                   22     6,482,605.59
</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     1.228669%  1.085412%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.204778%  0.206142%   60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.068259%  0.029079%   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%
            --------   --------                --------   --------                --------   --------
            1.501706%  1.320633%               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     1.228669%  1.085412%
60 Days     0.000000%  0.000000%   60 Days     0.204778%  0.206142%
90 Days     0.000000%  0.000000%   90 Days     0.068259%  0.029079%
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%               1.501706%  1.320633%
</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  24,453.55
</TABLE>
<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       11     2,465,920.30   30 Days        0        0.00     30 Days        0        0.00
60 Days        2       860,890.54   60 Days        0        0.00     60 Days        0        0.00
90 Days        1       142,741.83   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
             ---     ------------                ---        ----                  ---        ----
              14     3,469,552.67                  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       11     2,465,920.30
60 Days        0        0.00     60 Days        2       860,890.54
90 Days        0        0.00     90 Days        1       142,741.83
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                   14     3,469,552.67
</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     1.186624%  0.762634%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.215750%  0.266247%   60 Days     0.000000%  0.000000%   60 Days     0.000000%  0.000000%
90 Days     0.107875%  0.044146%   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%
            --------   --------                --------   --------                --------   --------
            1.510248%  1.073027%               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     1.186624%  0.762634%
60 Days     0.000000%  0.000000%   60 Days     0.215750%  0.266247%
90 Days     0.000000%  0.000000%   90 Days     0.107875%  0.044146%
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%               1.510248%  1.073027%
</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        7     2,862,053.01     30 Days      0        0.00       30 Days      0        0.00
60 Days        1       150,999.91     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     3,013,052.92                  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       7     2,862,053.01
60 Days        0        0.00      60 Days       1       150,999.91
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     3,013,052.92
</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     1.301115%  1.708396%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.185874%  0.090134%   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%
            --------   --------                --------   --------                --------   --------
            1.486989%  1.798530%               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     1.301115%  1.708396%
60 Days     0.000000%  0.000000%   60 Days     0.185874%  0.090134%
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%               1.486989%  1.798530%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<S>                                                          <C>
Collateral Description                                       Fixed & Mixed Arm

Weighted Average Gross Coupon                                         4.734277%
Weighted Average Net Coupon                                           4.359143%
Weighted Average Pass-Through Rate                                    3.808276%
Weighted Average Maturity (Stepdown Calculation)                           331

Beginning Scheduled Collateral Loan Count                                1,536
Number of Loans Paid in Full                                                71
Ending Scheduled Collateral Loan Count                                   1,465

Beginning Scheduled Collateral Balance                          517,144,151.61
Ending Scheduled Collateral Balance                             490,869,145.49
Ending Actual Collateral Balance at 29-July-2005                490,871,145.58

Monthly P&I Constant                                              2,041,742.30
Special Servicing Fee                                                     0.00
Prepayment Penalties                                                      0.00
Realization Loss Amount                                                   0.00
Cumulative Realized Loss                                                  0.00

Scheduled Principal                                                   1,489.40
Unscheduled Principal                                            26,273,516.72
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                         <C>
Rapid Prepay Condition?                                                       NO
Underlying Certificate Balance                                              0.00
Underlying Certificate Interest                                             0.00
Underlying Certificate Principal                                            0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
             GROUP                   GROUP ONE         GROUP TWO            TOTAL
-------------------------------   --------------   -----------------   --------------
<S>                               <C>              <C>                 <C>
Collateral Description                 Mixed ARM   6 Month LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate            4.620737            4.955828         4.734277
Weighted Average Net Rate               4.245643            4.580618         4.359143

Weighted Average Maturity                    330                 334              331
Record Date                           07/29/2005          07/29/2005       07/29/2005
Principal and Interest Constant     1,317,588.04          724,154.26     2,041,742.30
Beginning Loan Count                         976                 560            1,536
Loans Paid in Full                            49                  22               71
Ending Loan Count                            927                 538            1,465
Beginning Scheduled Balance       341,919,598.90      175,224,552.71   517,144,151.61
Ending Scheduled Balance          323,340,977.03      167,528,168.46   490,869,145.49
Scheduled Principal                       987.45              501.95         1,489.40
Unscheduled Principal              18,577,634.42        7,695,882.30    26,273,516.72
Scheduled Interest                  1,316,600.59          723,652.31     2,040,252.90
Servicing Fee                         106,876.77           54,788.30       161,665.07
Master Servicing Fee                    2,849.33            1,460.20         4,309.53
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                        1,206,874.49          667,403.81     1,874,278.30
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>
MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Group One
One Month Libor Loan Balance                                     180,702,035.10
Six Month Libor Loan Balance                                     142,638,941.93
Principal Transfer Amount                                                  0.00
Interest Transfer Amount                                                   0.00
Pro Rata Senior Percent                                               95.363027%
Senior Percent                                                       100.000000%
Senior Prepayment Percent                                            100.000000%
Subordinate Percent                                                    0.000000%
Subordinate Prepayment Percent                                         0.000000%

Group Two
Principal Transfer Amount                                                  0.00
Interest Transfer Amount                                                   0.00
Pro Rata Senior Percent                                               95.044610%
Senior Percent                                                       100.000000%
Senior Prepayment Percent                                            100.000000%
Subordinate Percent                                                    0.000000%
Subordinate Prepayment Percent                                         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 2005-1
                           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      81744FGM#       SEN         3.66000%     252,872,767.46     771,261.94
A-2      81744FGN1       SEN         4.10000%      86,736,811.92     296,350.77
X-A      81744FGP6        IO         0.72176%               0.00     204,264.97
X-B      81744FGS0        IO         0.44253%               0.00       4,594.04
B-1      81744FGQ4       SUB         3.85000%       7,067,000.00      22,673.29
B-2      81744FGR2       SUB         4.13000%       3,949,000.00      13,591.14
B-3      81744FGU5       SUB         4.68000%       2,495,000.00       9,730.50
B-4      81744FGV3       SUB         4.49314%       1,455,000.00       5,447.93
B-5      81744FGW1       SUB         4.49314%         831,000.00       3,111.50
B-6      81744FGX9       SUB         4.49314%       1,871,544.03       7,007.59
A-R      81744FGT8       RES         3.95895%               0.00           0.47
                                                  --------------   ------------
Totals                                            357,278,123.41   1,338,034.14
                                                  ==============   ============

<CAPTION>
                          Current       Ending                       Cumulative
           Principal     Realized     Certificate        Total        Realized
Class     Distribution     Loss         Balance       Distribution      Loss
------   -------------   --------   --------------   -------------   ----------
<S>      <C>             <C>        <C>              <C>             <C>
A-1      15,691,841.70     0.00     237,180,925.76   16,463,103.64      0.00
A-2       5,743,478.08     0.00      80,993,333.84    6,039,828.85      0.00
X-A               0.00     0.00               0.00      204,264.97      0.00
X-B               0.00     0.00               0.00        4,594.04      0.00
B-1               0.00     0.00       7,067,000.00       22,673.29      0.00
B-2               0.00     0.00       3,949,000.00       13,591.14      0.00
B-3               0.00     0.00       2,495,000.00        9,730.50      0.00
B-4               0.00     0.00       1,455,000.00        5,447.93      0.00
B-5               0.00     0.00         831,000.00        3,111.50      0.00
B-6               0.00     0.00       1,871,544.03        7,007.59      0.00
A-R               0.00     0.00               0.00            0.47      0.00
         -------------     ----     --------------   -------------      ----
Totals   21,435,319.78     0.00     335,842,803.63   22,773,353.92      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      298,055,000.00   252,872,767.46       0.00       15,691,841.70      0.00       0.00
A-2      100,000,000.00    86,736,811.92       0.00        5,743,478.08      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
B-1        7,067,000.00     7,067,000.00       0.00                0.00      0.00       0.00
B-2        3,949,000.00     3,949,000.00       0.00                0.00      0.00       0.00
B-3        2,495,000.00     2,495,000.00       0.00                0.00      0.00       0.00
B-4        1,455,000.00     1,455,000.00       0.00                0.00      0.00       0.00
B-5          831,000.00       831,000.00       0.00                0.00      0.00       0.00
B-6        1,871,544.03     1,871,544.03       0.00                0.00      0.00       0.00
A-R              100.00             0.00       0.00                0.00      0.00       0.00
         --------------   --------------       ----       -------------      ----       ----
Totals   415,723,644.03   357,278,123.41       0.00       21,435,319.78      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       15,691,841.70    237,180,925.76    0.79576228   15,691,841.70
A-2        5,743,478.08     80,993,333.84    0.80993334    5,743,478.08
X-A                0.00              0.00    0.00000000            0.00
X-B                0.00              0.00    0.00000000            0.00
B-1                0.00      7,067,000.00    1.00000000            0.00
B-2                0.00      3,949,000.00    1.00000000            0.00
B-3                0.00      2,495,000.00    1.00000000            0.00
B-4                0.00      1,455,000.00    1.00000000            0.00
B-5                0.00        831,000.00    1.00000000            0.00
B-6                0.00      1,871,544.03    1.00000000            0.00
A-R                0.00              0.00    0.00000000            0.00
          -------------    --------------    ----------   -------------
Totals    21,435,319.78    335,842,803.63    0.80785110   21,435,319.78
          =============    ==============    ==========   =============
</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     298,055,000.00    848.40974807    0.00000000     52.64747010   0.00000000   0.00000000
A-2     100,000,000.00    867.36811920    0.00000000     57.43478080   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
B-1       7,067,000.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-2       3,949,000.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-3       2,495,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-4       1,455,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-5         831,000.00   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
B-6       1,871,544.03   1000.00000000    0.00000000      0.00000000   0.00000000   0.00000000
A-R             100.00      0.00000000    0.00000000      0.00000000   0.00000000   0.00000000

<CAPTION>
                              Ending         Ending
        Total Principal    Certificate    Certificate   Total Principal
Class      Reduction         Balance       Percentage     Distribution
-----   ---------------   -------------   -----------   ---------------
<S>     <C>               <C>             <C>           <C>
A-1       52.64747010      795.76227797    0.79576228     52.64747010
A-2       57.43478080      809.93333840    0.80993334     57.43478080
X-A        0.00000000        0.00000000    0.00000000      0.00000000
X-B        0.00000000        0.00000000    0.00000000      0.00000000
B-1        0.00000000     1000.00000000    1.00000000      0.00000000
B-2        0.00000000     1000.00000000    1.00000000      0.00000000
B-3        0.00000000     1000.00000000    1.00000000      0.00000000
B-4        0.00000000     1000.00000000    1.00000000      0.00000000
B-5        0.00000000     1000.00000000    1.00000000      0.00000000
B-6        0.00000000     1000.00000000    1.00000000      0.00000000
A-R        0.00000000        0.00000000    0.00000000      0.00000000
</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-1      298,055,000.00       3.66000%       252,872,767.46     771,261.94      0.00         0.00        0.00       0.00
A-2      100,000,000.00       4.10000%        86,736,811.92     296,350.77      0.00         0.00        0.00       0.00
X-A                0.00       0.72176%       339,609,579.38     204,264.97      0.00         0.00        0.00       0.00
X-B                0.00       0.44253%        13,511,000.00       4,982.56      0.00         0.00        0.00       0.00
B-1        7,067,000.00       3.85000%         7,067,000.00      22,673.29      0.00         0.00        0.00       0.00
B-2        3,949,000.00       4.13000%         3,949,000.00      13,591.14      0.00         0.00        0.00       0.00
B-3        2,495,000.00       4.68000%         2,495,000.00       9,730.50      0.00         0.00        0.00       0.00
B-4        1,455,000.00       4.49314%         1,455,000.00       5,447.93      0.00         0.00        0.00       0.00
B-5          831,000.00       4.49314%           831,000.00       3,111.50      0.00         0.00        0.00       0.00
B-6        1,871,544.03       4.49314%         1,871,544.03       7,007.59      0.00         0.00        0.00       0.00
A-R              100.00       3.95985%                 0.00           0.00      0.00         0.00        0.00       0.00
         --------------                                       ------------      ----         ----        ----       ----
Totals   415,723,644.03                                       1,338,422.19      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-1         771,261.94       0.00     237,180,925.76
A-2         296,350.77       0.00      80,993,333.84
X-A         204,264.97       0.00     318,174,259.60
X-B           4,594.04       0.00      13,511,000.00
B-1          22,673.29       0.00       7,067,000.00
B-2          13,591.14       0.00       3,949,000.00
B-3           9,730.50       0.00       2,495,000.00
B-4           5,447.93       0.00       1,455,000.00
B-5           3,111.50       0.00         831,000.00
B-6           7,007.59       0.00       1,871,544.03
A-R               0.47       0.00               0.00
          ------------       ----
Totals    1,338,034.14       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
             Original Face   Certificate     Certificate/     Current Accrued    Interest     Interest     Interest     Realized
Class (5)       Amount           Rate      Notional Balance       Interest       Shortfall    Shortfall    Shortfall    Loss (6)
---------   --------------   -----------   ----------------   ---------------   ----------   ----------   ----------   ----------
<S>         <C>              <C>           <C>                <C>               <C>          <C>          <C>          <C>
A-1         298,055,000.00     3.66000%       848.40974807       2.58764973     0.00000000   0.00000000   0.00000000   0.00000000
A-2         100,000,000.00     4.10000%       867.36811920       2.96350770     0.00000000   0.00000000   0.00000000   0.00000000
X-A                   0.00     0.72176%       853.17249973       0.51315765     0.00000000   0.00000000   0.00000000   0.00000000
X-B                   0.00     0.44253%      1000.00000000       0.36877803     0.00000000   0.00000000   0.00000000   0.00000000
B-1           7,067,000.00     3.85000%      1000.00000000       3.20833310     0.00000000   0.00000000   0.00000000   0.00000000
B-2           3,949,000.00     4.13000%      1000.00000000       3.44166624     0.00000000   0.00000000   0.00000000   0.00000000
B-3           2,495,000.00     4.68000%      1000.00000000       3.90000000     0.00000000   0.00000000   0.00000000   0.00000000
B-4           1,455,000.00     4.49314%      1000.00000000       3.74428179     0.00000000   0.00000000   0.00000000   0.00000000
B-5             831,000.00     4.49314%      1000.00000000       3.74428400     0.00000000   0.00000000   0.00000000   0.00000000
B-6           1,871,544.03     4.49314%      1000.00000000       3.74428274     0.00000000   0.00000000   0.00000000   0.00000000
A-R                 100.00     3.95985%         0.00000000       0.00000000     0.00000000   0.00000000   0.00000000   0.00000000

<CAPTION>
                              Remaining       Ending
                               Unpaid      Certificate/
            Total Interest    Interest      Notational
Class (5)    Distribution     Shortfall      Balance
---------   --------------   ----------   -------------
<S>         <C>              <C>          <C>
A-1           2.58764973     0.00000000    795.76227797
A-2           2.96350770     0.00000000    809.93333840
X-A           0.51315765     0.00000000    799.32235395
X-B           0.34002220     0.00000000   1000.00000000
B-1           3.20833310     0.00000000   1000.00000000
B-2           3.44166624     0.00000000   1000.00000000
B-3           3.90000000     0.00000000   1000.00000000
B-4           3.74428179     0.00000000   1000.00000000
B-5           3.74428400     0.00000000   1000.00000000
B-6           3.74428274     0.00000000   1000.00000000
A-R           4.70000000     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                              22,888,125.71
   Liquidations, Insurance Proceeds, Reserve Funds                          0.00
   Proceeds from Repurchased Loans                                          0.00
   Other Amounts (Servicer Advances)                                   22,882.68
   Realized Losses (Gains, Subsequent Expenses & Recoveries)                0.00
   Prepayment Penalties                                                     0.00
                                                                   -------------
Total Deposits                                                     22,911,008.39

Withdrawals
   Reimbursement for Servicer Advances                                 22,215.06
   Payment of Service Fee                                             115,439.42
   Payment of Interest and Principal                               22,773,353.91
                                                                   -------------
Total Withdrawals (Pool Distribution Amount)                       22,911,008.39

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                                                   111,717.77
Master Servicing Fee                                                    3,721.65
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------
Net Servicing Fee                                                     115,439.42
                                                                      ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                   Beginning     Current      Current    Ending
      Account Type                  Balance    Withdrawals   Deposits    Balance
-----------------------            ---------   -----------   --------   --------
<S>                                <C>         <C>           <C>        <C>
X-A Pool 1 Reserve Fund             4,500.00        0.00        0.00    4,500.00
X-A Pool 2 Reserve Fund             4,500.00        0.00        0.00    4,500.00
X-B Reserve Fund                    1,000.00      388.52      388.52    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       15     5,149,194.58   30 Days        0        0.00     30 Days        0        0.00
60 Days        1       797,100.99   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
             ---     ------------                ---        ----                  ---        ----
              16     5,946,295.57                  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       15     5,149,194.58
60 Days        0        0.00     60 Days        1       797,100.99
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                   16     5,946,295.57
</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     1.473477%   1.533212%  30 Days     0.000000%   0.000000%  30 Days     0.000000%   0.000000%
60 Days     0.098232%   0.237343%  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%
            --------    --------               --------    --------               --------    --------
            1.571709%   1.770555%              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     1.473477%  1.533212%
60 Days     0.000000%   0.000000%  60 Days     0.098232%  0.237343%
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%              1.571709%  1.770555%
</TABLE>

<TABLE>
<S>                     <C>    <C>                       <C>    <C>        <C>
Current Period Class           Principal Balance of             Periodic
A Insufficient Funds:   0.00   Contaminated Properties   0.00   Advance    22,882.68
</TABLE>

<TABLE>
<CAPTION>
              Original $     Original%     Current $      Current %   Current Class %   Prepayment %
            -------------   ----------   -------------   ----------   ---------------   ------------
<S>         <C>             <C>          <C>             <C>          <C>               <C>
Class A     17,668,544.03   4.25006956%  17,668,544.03   5.26095657%     94.739043%       0.000000%
Class B-1   10,601,544.03   2.55014219%  10,601,544.03   3.15669829%      2.104258%      39.997636%
Class B-2    6,652,544.03   1.60023230%   6,652,544.03   1.98085055%      1.175848%      22.350455%
Class B-3    4,157,544.03   1.00007399%   4,157,544.03   1.23794346%      0.742907%      14.121141%
Class B-4    2,702,544.03   0.65008187%   2,702,544.03   0.80470506%      0.433238%       8.234974%
Class B-5    1,871,544.03   0.45018946%   1,871,544.03   0.55726787%      0.247437%       4.703274%
Class B-6            0.00   0.00000000%           0.00   0.00000000%      0.557268%      10.592520%
</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       10     3,582,259.03   30 Days        0        0.00     30 Days         0       0.00
60 Days        1       797,100.99   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
             ---     ------------                ---        ----                   ---       ----
              11     4,379,360.02                  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        10    3,582,259.03
60 Days         0       0.00     60 Days         1      797,100.99
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                    11    4,379,360.02
</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     1.322751%  1.430550%   30 Days     0.000000%  0.000000%   30 Days     0.000000%  0.000000%
60 Days     0.132275%  0.318317%   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%
            --------   --------                --------   --------                --------   --------
            1.455026%  1.748866%               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     1.322751%  1.430550%
60 Days     0.000000%  0.000000%   60 Days     0.132275%  0.318317%
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%               1.455026%  1.748866%
</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         5    1,566,935.55   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
              ---    ------------                 ---       ----                   ---       ----
                5    1,566,935.55                   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         5    1,566,935.55
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                     5    1,566,935.55
</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     1.908397%  1.834128%   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%
            --------   --------                --------   --------                --------   --------
            1.908397%  1.834128%               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     1.908397%  1.834128%
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%               1.908397%  1.834128%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                          4.881822%
Weighted Average Net Coupon                                            4.506592%
Weighted Average Pass-Through Rate                                     4.494092%
Weighted Average Maturity (Stepdown Calculation)                            329

Beginning Scheduled Collateral Loan Count                                 1,072
Number of Loans Paid in Full                                                 54
Ending Scheduled Collateral Loan Count                                    1,018

Beginning Scheduled Collateral Balance                           357,278,123.41
Ending Scheduled Collateral Balance                              335,842,803.63
Ending Actual Collateral Balance at 29-July-2005                 335,843,577.71

Monthly P&I Constant                                               1,453,473.37
Special Servicing Fee                                                      0.00
Prepayment Penalties                                                       0.00
Realization Loss Amount                                                    0.00
Cumulative Realized Loss                                                   0.00

Class A Optimal Amount                                            22,706,808.94

Scheduled Principal                                                        0.00
Unscheduled Principal                                             21,435,319.78
</TABLE>

<TABLE>
<S>                                                                   <C>
MISCELLANEOUS REPORTING

Pro Rata Senior Percent                                               95.054681%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
             GROUP                   POOL ONE          POOL TWO             TOTAL
-------------------------------   --------------   -----------------   --------------
<S>                               <C>              <C>                 <C>
Collateral Description                 Mixed ARM   6 Month LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate            4.820412            5.061049         4.881822
Weighted Average Net Rate               4.445260            4.685594         4.506592
Pass-Through Rate                       4.432760            4.673094         4.494092
Weighted Average Maturity                    328                 333              329
Record Date                           07/29/2005          07/29/2005       07/29/2005
Principal and Interest Constant     1,068,936.73          384,536.64     1,453,473.37
Beginning Loan Count                         796                 276            1,072
Loans Paid in Full                            40                  14               54
Ending Loan Count                            756                 262            1,018
Beginning Scheduled Balance       266,102,573.44       91,175,549.97   357,278,123.41
Ending Scheduled Balance          250,410,731.74       85,432,071.89   335,842,803.63
Scheduled Principal                         0.00                0.00             0.00
Unscheduled Principal              15,691,841.70        5,743,478.08    21,435,319.78
Scheduled Interest                  1,068,936.73          384,536.64     1,453,473.37
Servicing Fee                          83,190.80           28,526.97       111,717.77
Master Servicing Fee                    2,771.90              949.75         3,721.65
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                          982,974.03          355,059.92     1,338,033.95
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>
MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Group Pool One
One Month Libor Loan Balance                                     134,847,605.87
Six Month Libor Loan Balance                                     115,563,125.87
Senior Percent                                                       100.000000%
Senior Prepayment Percent                                            100.000000%
Subordinate Percent                                                    0.000000%
Subordinate Prepayment Percent                                         0.000000%
Principal Transfer Amount                                                  0.00
Interest Transfer Amount                                                   0.00

Group Pool Two
Senior Percent                                                       100.000000%
Senior Prepayment Percent                                            100.000000%
Subordinate Percent                                                    0.000000%
Subordinate Prepayment Percent                                         0.000000%
Principal Transfer Amount                                                  0.00
Interest Transfer Amount                                                   0.00
</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"}]]