-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DawkN5lkr0vwpx+ZgYU4bcsTaq9w4nv44/C16HF5aWtqbmS8EhlCV4LzRAz7SkF9 dExsIaSwX9q2RodYhuKCnA== 0000950149-05-000417.txt : 20050611 0000950149-05-000417.hdr.sgml : 20050611 20050608133639 ACCESSION NUMBER: 0000950149-05-000417 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050520 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050608 DATE AS OF CHANGE: 20050608 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sequoia Mortgage Trust 2005-3 CENTRAL INDEX KEY: 0001325318 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-118832-08 FILM NUMBER: 05884673 BUSINESS ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: SUITE 3160 CITY: MILL VALLEY STATE: CA ZIP: 94941 BUSINESS PHONE: 4153897373 MAIL ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: SUITE 3160 CITY: MILL VALLEY STATE: CA ZIP: 94941 8-K 1 f09857de8vk.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 May 20, 2005 Date of Report (Date of Earliest Event Reported) SEQUOIA RESIDENTIAL FUNDING, INC. SEQUOIA MORTGAGE TRUST 2005-3 (as Depositor of Sequoia Mortgage Trust 2005-3, the Issuer of Mortgage Pass- Through Certificates under a Pooling and Servicing Agreement dated as of April 1, 2005) SEQUOIA RESIDENTIAL FUNDING, INC. --------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware 333-118832-08 35-2170972 -------- ------------- ---------- (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
One Belvedere Place, Suite 330, Mill Valley, CA 94941 ----------------------------------------------------- (Address of Principal Executive Offices) (415) 381-1765 -------------- (Registrant's Telephone Number, Including Area Code) Not Applicable -------------- (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) INFORMATION TO BE INCLUDED IN THE REPORT Item 8.01. OTHER EVENTS Sequoia Residential Funding, Inc. has previously registered the offer and sale of Mortgage Pass-Through Certificates issued by Sequoia Mortgage Trust 2005-3 (the "Certificates"). The following exhibit which relates specifically to the Certificates is included with this Current Report: Item 9.01. Exhibits 10.1 Monthly Payment Date Statement relating to the distribution to Certificateholders, May 20, 2005. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: June 7, 2005 SEQUOIA RESIDENTIAL FUNDING, INC. By: /s/ Harold F. Zagunis ------------------------------- Harold F. Zagunis Chief Financial Officer and Secretary EXHIBIT INDEX
Exhibit Number Page Number - -------------- ----------- 10.1 Monthly Payment Date Statement relating to the distribution to Certificateholders, May 20, 2005........................................ 5
EX-10.1 2 f09857dexv10w1.txt EXHIBIT 10.1 EXHIBIT 10.1 CONTACT: CUSTOMER SERVICES -- CTSLINK WELLS FARGO BANK MINNESOTA, N.A. SECURITIES ADMINISTRATION SERVICES 7485 NEW HORIZON WAY FREDERICK, MD 21703 WWW.CTSLINK.COM TELEPHONE: (301) 815-6600 FAX: (301) 315-6660 SMT SERIES 2005-3 RECORD DATE: APRIL 29, 2005 DISTRIBUTION DATE: MAY 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Class CUSIP Description Rate Certificate Balance Distribution - ------- --------- ----------- ------------ ------------------- ------------ A-R 81744FHN0 SEN 3.85841% 100.00 0.32 A-1 81744FHK6 SEN 3.26000% 349,687,000.00 695,764.74 B-1 81744FHP5 SUB 3.43000% 6,208,000.00 12,996.04 B-2 81744FHQ3 SUB 3.70000% 3,287,000.00 7,422.78 B-3 81744FHR1 SUB 3.85841% 2,374,000.00 7,623.48 B-4 81744FHS9 SUB 3.85841% 1,095,000.00 3,516.31 B-5 81744FHT7 SUB 3.85841% 731,000.00 2,347.42 B-6 81744FHU4 SUB 3.85841% 1,826,168.26 5,864.26 X-A 81744FHL4 IO 1.46775% 0.00 427,163.59 X-B 81744FHM2 IO 1.27454% 0.00 10,071.88 -------------- ------------ Totals 365,208,268.26 1,172,770.82 -------------- ------------ Principal Current Ending Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ------- ------------ ------------- ------------------ ------------ ------------- A-R 100.00 0.00 0.00 100.32 0.00 A-1 6,147,532.46 0.00 343,539,467.54 6,843,297.20 0.00 B-1 0.00 0.00 6,208,000.00 12,996.04 0.00 B-2 0.00 0.00 3,287,000.00 7,422.78 0.00 B-3 0.00 0.00 2,374,000.00 7,623.48 0.00 B-4 0.00 0.00 1,095,000.00 3,516.31 0.00 B-5 0.00 0.00 731,000..00 2,347.42 0.00 B-6 0.00 0.00 1,826,168.26 5,864.26 0.00 X-A 0.00 0.00 0.00 427,163.59 0.00 X-B 0.00 0.00 0.00 10,071.88 0.00 ------------ ---- -------------- ------------ ---- Totals 6,147,632.46 0.00 359,060,635.80 7,320,403.28 0.00 ------------ ---- -------------- ------------ ----
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) - ------- -------------- -------------- ------------ ------------ --------- -------- A-R 100.00 100.00 0.05 99.95 0.00 0.00 A-1 349,687,000.00 349,687,000.00 3,127.58 6,144,404.88 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 365,208,268.26 365,208,268.26 3,127.63 6,144,504.83 0.00 0.00 -------------- -------------- -------- ------------ ---- ---- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ------- --------------- ------------------ ------------------ --------------- A-R 100.00 0.00 0.00000000 100.00 A-1 6,147,532.46 343,539,467.54 0.98241990 6,147,532.46 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 6,147,632.46 359,060,635.80 0.98316678 6,147,632.46 ------------ -------------- ---------- ------------
(1) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. PRINCIPAL DISTRIBUTION FACTORS STATEMENT
Beginning Scheduled Unscheduled Ending Original Face Certificate Principal Principal Realized Total Principal Certificate Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance - ----- ------------- ----------- ------------ ------------ --------- -------- --------------- ----------- A-R 100.00 1000.00000000 0.50000000 999.50000000 0.00000000 0.00000000 1000.00000000 0.00000000 A-1 349,687,000.00 1000.00000000 0.00894394 17.57115615 0.00000000 0.00000000 17.58010009 982.41989991 B-1 6,208,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-2 3,287,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-3 2,374,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-4 1,095,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-5 731,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-6 1,826,168.26 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Certificate Total Principal Class Percentage Distribution - ----- ----------- --------------- A-R 0.00000000 1000.00000000 A-1 0.98241990 17.58010009 B-1 1.00000000 0.00000000 B-2 1.00000000 0.00000000 B-3 1.00000000 0.00000000 B-4 1.00000000 0.00000000 B-5 1.00000000 0.00000000 B-6 1.00000000 0.00000000 X-A 0.00000000 0.00000000 X-B 0.00000000 0.00000000
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Non- Current Certificate/ Current Unpaid Current Supported Original Face Certificate Notional Accrued Interest Interest Interest Realized Total Interest Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) Distribution - ----- ------------- ----------- ------------ -------- --------- --------- --------- -------- -------------- A-R 100.00 3.85841% 100.00 0.32 0.00 0.00 0.00 0.00 0.32 A-1 349,687,000.00 3.26000% 349,687,000.00 696,654.21 0.00 0.00 889.47 0.00 695,764.74 B-1 6,208,000.00 3.43000% 6,208,000.00 13,012.66 0.00 0.00 16.61 0.00 12,996.04 B-2 3,287,000.00 3.70000% 3,287,000.00 7,432.27 0.00 0.00 9.49 0.00 7,422.78 B-3 2,374,000.00 3.85841% 2,374,000.00 7,633.23 0.00 0.00 9.75 0.00 7,623.48 B-4 1,095,000.00 3.85841% 1,095,000.00 3,520.80 0.00 0.00 4.50 0.00 3,516.31 B-5 731,000.00 3.85841% 731,000.00 2,350.42 0.00 0.00 3.00 0.00 2,347.42 B-6 1,826,168.26 3.85841% 1,826,168.26 5,871.76 0.00 0.00 7.50 0.00 5,864.26 X-A 0.00 1.46775% 349,687,000.00 427,709.68 0.00 0.00 546.09 0.00 427,163.59 X-B 0.00 1.27454% 9,495,000.00 10,084.76 0.00 0.00 12.88 0.00 10,071.88 -------------- ------------ ---- ---- -------- ---- ------------ Totals 365,208,268.26 1,174,270.11 0.00 0.00 1,499.29 0.00 1,172,770.82 Remaining Ending Unpaid Certificate/ Interest Notational Class Shortfall Balance - ----- --------- ------------ A-R 0.00 0.00 A-1 0.00 343,539,467.54 B-1 0.00 6,208,000.00 B-2 0.00 3,287,000.00 B-3 0.00 2,374,000.00 B-4 0.00 1,095,000.00 B-5 0.00 731,000.00 B-6 0.00 1,826,168.26 X-A 0.00 343,539,467.54 X-B 0.00 9,495,000.00 Totals 0.00
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
Payment of 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) - ----- ------------- ----------- ---------------- --------------- ---------- --------- --------- -------- A-R 100.00 3.85841% 1000.00000000 3.20000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 349,687,000.00 3.26000% 1000.00000000 1.99222222 0.00000000 0.00000000 0.00254362 0.00000000 B-1 6,208,000.00 3.43000% 1000.00000000 2.09611147 0.00000000 0.00000000 0.00267558 0.00000000 B-2 3,287,000.00 3.70000% 1000.00000000 2.26111044 0.00000000 0.00000000 0.00288713 0.00000000 B-3 2,374,000.00 3.85841% 1000.00000000 3.21534541 0.00000000 0.00000000 0.00410699 0.00000000 B-4 1,095,000.00 3.85841% 1000.00000000 3.21534247 0.00000000 0.00000000 0.00410959 0.00000000 B-5 731,000.00 3.85841% 1000.00000000 3.21534884 0.00000000 0.00000000 0.00410397 0.00000000 B-6 1,826,168.26 3.85841% 1000.00000000 3.21534446 0.00000000 0.00000000 0.00410696 0.00000000 X-A 0.00 1.46775% 1000.00000000 1.22312148 0.00000000 0.00000000 0.00156165 0.00000000 X-B 0.00 1.27454% 1000.00000000 1.06211269 0.00000000 0.00000000 0.00135650 0.00000000 Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance - ----- -------------- --------- ------------------ A-R 3.20000000 0.00000000 0.00000000 A-1 1.98967860 0.00000000 982.41989991 B-1 2.09343428 0.00000000 1000.00000000 B-2 2.25822330 0.00000000 1000.00000000 B-3 3.21123842 0.00000000 1000.00000000 B-4 3.21124201 0.00000000 1000.00000000 B-5 3.21124487 0.00000000 1000.00000000 B-6 3.21123750 0.00000000 1000.00000000 X-A 1.22155982 0.00000000 982.41989991 X-B 1.06075619 0.00000000 1000.00000000
(5) Per $1 denomination (6) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 7,440,272.55 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 7,440,272.55 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 119,869.27 Payment of Interest and Principal 7,320,403.28 ------------ Total Withdrawals (Pool Distribution Amount) 7,440,272.55 Ending Balance 0.00 ============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 1,499.29 Servicing Fee Support 0.00 -------- Non-Supported Prepayment Curtailment Interest Shortfall 1,499.29 ========
SERVICING FEES Gross Servicing Fee 114,847.66 Master Servicing Fee 5,021.61 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 119,869.27 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ --------- ----------- -------- ------- Reserve Fund 5,000.00 0.00 0.00 5,000.00 Reserve Fund 5,000.00 0.00 0.00 5,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 12 3,544,109.12 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 12 3,544,109.12
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.127820% 0.987045% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 1.127820% 0.987045%
BANKRUPTCY
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ---- 0 0.00
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 12 3,544,109.12 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 12 3,544,109.12
No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 1.127820% 0.987045% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 1.127820% 0.987045%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 4.252278% Weighted Average Net Coupon 3.874912% Weighted Average Pass-Through Rate 3.858412% Weighted Average Maturity (Stepdown Calculation) 337 Beginning Scheduled Collateral Loan Count 1,077 Number of Loans Paid in Full 13 Ending Scheduled Collateral Loan Count 1,064 Beginning Scheduled Collateral Balance 365,208,268.26 Ending Scheduled Collateral Balance 359,060,635.80 Ending Actual Collateral Balance at 31-Mar-2005 359,062,516.80 Monthly P&I Constant 1,297,266.85 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 3,127.63 Unscheduled Principal 6,144,504.83
MISCELLANEOUS REPORTING Senior Percentage 100% Senior Prepayment Percentage 100% Subordinate Prepayment Percentage 0.000000% Subordinate Percentage 0.000000%
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