8-K 1 srm04007_dec.txt DECEMBER 8-K UNITED STATES 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 Date of Report (Date of earliest event reported): December 27, 2004 STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-92140-46 54-6621645 Pooling and Servicing Agreement) (Commission 54-2154098 (State or other File Number) 54-2154099 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (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)) ITEM 8.01 Other Events On December 27, 2004 a distribution was made to holders of STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-7 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-7 Trust, relating to the December 27, 2004 distribution. 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 hereunto duly authorized. STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-7 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/28/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-7 Trust, relating to the December 27, 2004 distribution. EX-99.1

Structured Adjustable Rate Mortgage Trust Mortgage Pass-Through Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~SARM~~Structured Adjustable Rate Mortgage Trust Mortgage Pass-Through Certificates Series: 2004-7 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A1 86359BRS2 SEN 2.~~20250~~45000% ~~111~~107,~~242~~060,~~183~~303.2489 ~~217~~225,~~787~~867.4750 45,~~181~~839,~~879~~558.3579 A2-A 86359BRT0 SEN 2.~~13250~~38000% 7671,~~044~~796,~~006~~989.6628 ~~144~~147,~~145~~143.6494 45,~~247~~930,~~017~~517.3826 A2-B 86359BRU7 SEN 2.~~33250~~58000% 2,~~399~~265,~~015~~032.9216 45,~~973~~032.9615 ~~133~~187,~~983~~094.7637 A3 86359BRV5 SEN 2.~~42250~~67000% 38,096,000.00 8287,~~033~~589.3905 0.00 A4 86359BRW3 SEN 2.~~46250~~71000% 6,832,000.00 1415,~~954~~943.4923 0.00 M1 86359BRX1 MEZ 2.~~53250~~78000% 6,690,000.00 1516,~~059~~015.9312 0.00 M2 86359BRY9 MEZ 3.~~18250~~43000% 4,270,000.00 12,~~079~~611.3692 0.00 X SRM04007X SEN 0.00000% 713,375.62 ~~374~~347,~~948~~823.1726 0.00 P SRM04007P SEN 0.00000% 100.00 1158,~~739~~301.8063 0.00 R SRM04007R SEN 0.00000% 0.00 0.00 0.00 Totals ~~246~~237,~~286~~723,~~681~~800.4495 ~~877~~916,~~722~~327.2180 811,~~562~~957,~~880~~170.4942

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~107~~101,~~060~~220,~~303~~745.8910 46,~~399~~065,~~666~~426.8229 0.00 A2-A 0.00 7165,~~796~~866,~~989~~472.2802 46,~~391~~077,~~163~~661.0220 0.00 A2-B 0.00 2,~~265~~077,~~032~~937.1679 ~~138~~192,~~957~~126.7252 0.00 A3 0.00 38,096,000.00 8287,~~033~~589.3905 0.00 A4 0.00 6,832,000.00 1415,~~954~~943.4923 0.00 M1 0.00 6,690,000.00 1516,~~059~~015.9312 0.00 M2 0.00 4,270,000.00 12,~~079~~611.3692 0.00 X 0.00 713,375.62 ~~374~~347,~~948~~823.1726 0.00 P 0.00 100.00 1158,~~739~~301.8063 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~237~~225,~~723~~766,~~800~~630.9553 912,~~440~~873,~~602~~498.7022 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 Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1 130,000,000.00 ~~111~~107,~~242~~060,~~183~~303.2489 0.00 45,~~181~~839,~~879~~558.3579 0.00 0.00 A2-A 95,094,000.00 7671,~~044~~796,~~006~~989.6628 0.00 45,~~247~~930,~~017~~517.3826 0.00 0.00 A2-B 3,000,000.00 2,~~399~~265,~~015~~032.9216 0.00 ~~133~~187,~~983~~094.7637 0.00 0.00 A3 38,096,000.00 38,096,000.00 0.00 0.00 0.00 0.00 A4 6,832,000.00 6,832,000.00 0.00 0.00 0.00 0.00 M1 6,690,000.00 6,690,000.00 0.00 0.00 0.00 0.00 M2 4,270,000.00 4,270,000.00 0.00 0.00 0.00 0.00 X 713,375.62 713,375.62 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 284,695,475.62 ~~246~~237,~~286~~723,~~681~~800.4495 0.00 811,~~562~~957,~~880~~170.4942 0.00 0.00 (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 Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 45,~~181~~839,~~879~~558.3579 ~~107~~101,~~060~~220,~~303~~745.8910 0.~~82354080~~77862112 45,~~181~~839,~~879~~558.3579 A2-A 45,~~247~~930,~~017~~517.3826 7165,~~796~~866,~~989~~472.2802 0.~~75501072~~69264593 45,~~247~~930,~~017~~517.3826 A2-B ~~133~~187,~~983~~094.7637 2,~~265~~077,~~032~~937.1679 0.~~75501072~~69264593 ~~133~~187,~~983~~094.7637 A3 0.00 38,096,000.00 1.00000000 0.00 A4 0.00 6,832,000.00 1.00000000 0.00 M1 0.00 6,690,000.00 1.00000000 0.00 M2 0.00 4,270,000.00 1.00000000 0.00 X 0.00 713,375.62 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 811,~~562~~957,~~880~~170.4942 ~~237~~225,~~723~~766,~~800~~630.9553 0.~~83501081~~79301095 811,~~562~~957,~~880~~170.4942

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 130,000,000.00 ~~855~~823.~~70910185~~54079915 0.00000000 3244.~~16830269~~91968300 0.00000000 A2-A 95,094,000.00 ~~799~~755.~~67197363~~01071866 0.00000000 4462.~~66125497~~36478916 0.00000000 A2-B 3,000,000.00 ~~799~~755.~~67197333~~01072000 0.00000000 4462.~~66125333~~36479000 0.00000000 A3 38,096,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A4 6,832,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 6,690,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 4,270,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 713,375.62 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are Per 1,000 Denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 3244.~~16830269~~91968300 ~~823~~778.~~54079915~~62111615 0.~~82354080~~77862112 3244.~~16830269~~91968300 A2-A 0.00000000 4462.~~66125497~~36478916 ~~755~~692.~~01071866~~64592950 0.~~75501072~~69264593 4462.~~66125497~~36478916 A2-B 0.00000000 4462.~~66125333~~36479000 ~~755~~692.~~01072000~~64593000 0.~~75501072~~69264593 4462.~~66125333~~36479000 A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 130,000,000.00 2.~~20250~~45000% ~~111~~107,~~242~~060,~~183~~303.2489 ~~217~~225,~~787~~867.4750 0.00 0.00 A2-A 95,094,000.00 2.~~13250~~38000% 7671,~~044~~796,~~006~~989.6628 ~~144~~147,~~145~~143.6494 0.00 0.00 A2-B 3,000,000.00 2.~~33250~~58000% 2,~~399~~265,~~015~~032.9216 45,~~973~~032.9615 0.00 0.00 A3 38,096,000.00 2.~~42250~~67000% 38,096,000.00 8287,~~033~~589.3905 0.00 0.00 A4 6,832,000.00 2.~~46250~~71000% 6,832,000.00 1415,~~954~~943.4923 0.00 0.00 M1 6,690,000.00 2.~~53250~~78000% 6,690,000.00 1516,~~059~~015.9312 0.00 0.00 M2 4,270,000.00 3.~~18250~~43000% 4,270,000.00 12,~~079~~611.3692 0.00 0.00 X 713,375.62 0.00000% ~~246~~237,~~286~~723,~~681~~800.4494 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 284,695,475.62 ~~491~~510,~~034~~202.2491 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1 0.00 0.00 ~~217~~225,~~787~~867.4750 0.00 ~~107~~101,~~060~~220,~~303~~745.8910 A2-A 0.00 0.00 ~~144~~147,~~145~~143.6494 0.00 7165,~~796~~866,~~989~~472.2802 A2-B 0.00 0.00 45,~~973~~032.9615 0.00 2,~~265~~077,~~032~~937.1679 A3 0.00 0.00 8287,~~033~~589.3905 0.00 38,096,000.00 A4 0.00 0.00 1415,~~954~~943.4923 0.00 6,832,000.00 M1 0.00 0.00 1516,~~059~~015.9312 0.00 6,690,000.00 M2 0.00 0.00 12,~~079~~611.3692 0.00 4,270,000.00 X 0.00 0.00 ~~374~~347,~~948~~823.1726 0.00 ~~237~~225,~~723~~766,~~800~~630.9452 P 0.00 0.00 1158,~~739~~301.8063 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~877~~916,~~722~~327.2180 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 Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A1 130,000,000.00 2.~~20250~~45000% ~~855~~823.~~70910185~~54079915 1.~~67528823~~73744231 0.00000000 0.00000000 A2-A 95,094,000.00 2.~~13250~~38000% ~~799~~755.~~67197363~~01071866 1.~~51582266~~54735251 0.00000000 0.00000000 A2-B 3,000,000.00 2.~~33250~~58000% ~~799~~755.~~67197333~~01072000 1.~~65798667~~67738333 0.00000000 0.00000000 A3 38,096,000.00 2.~~42250~~67000% 1000.00000000 2.~~15333342~~29916658 0.00000000 0.00000000 A4 6,832,000.00 2.~~46250~~71000% 1000.00000000 2.~~18888905~~33361095 0.00000000 0.00000000 M1 6,690,000.00 2.~~53250~~78000% 1000.00000000 2.~~25111061~~39388939 0.00000000 0.00000000 M2 4,270,000.00 3.~~18250~~43000% 1000.00000000 2.~~82888993~~95361124 0.00000000 0.00000000 X 713,375.62 0.00000% ~~345241~~333237.~~23692368~~91040126 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per 1,000 Denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1 0.00000000 0.00000000 1.~~67528823~~73744231 0.00000000 ~~823~~778.~~54079915~~62111615 A2-A 0.00000000 0.00000000 1.~~51582266~~54735251 0.00000000 ~~755~~692.~~01071866~~64592950 A2-B 0.00000000 0.00000000 1.~~65798667~~67738333 0.00000000 ~~755~~692.~~01072000~~64593000 A3 0.00000000 0.00000000 2.~~15333342~~29916658 0.00000000 1000.00000000 A4 0.00000000 0.00000000 2.~~18888905~~33361095 0.00000000 1000.00000000 M1 0.00000000 0.00000000 2.~~25111061~~39388939 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~82888993~~95361124 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~525~~487.~~59711811~~57379738 0.00000000 ~~333237~~316476.~~91040126~~51558375 P 0.00000000 0.00000000 ~~117398~~583016.~~00000000~~30000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 912,~~494~~925,~~108~~148.0520 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 912,~~494~~925,~~108~~148.0520 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 5351,~~505~~649.3598 Payment of Interest and Principal 912,~~440~~873,~~602~~498.7022 Total Withdrawals (Pool Distribution Amount) 912,~~494~~925,~~108~~148.0520 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 5149,~~452~~668.9495 Wells Fargo Bank, N.A. 21,~~052~~981.4103 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 5351,~~505~~649.3598

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 34 0 0 34 ~~830~~998,~~057~~148.8976 0.00 0.00 ~~830~~998,~~057~~148.8976 30 Days 1 0 0 0 1 ~~355~~251,~~419~~576.3136 0.00 0.00 0.00 ~~355~~251,~~419~~576.3136 60 Days 1 0 0 1 0 1 0355,419.0031 0.00 ~~272,000~~0.00 0.00 ~~272~~355,~~000~~419.0031 90 Days 01 0 1 0 12 0314,919.0017 0.00 ~~450~~272,000.00 0.00 ~~450~~586,~~000~~919.0017 120 Days 0 0 01 0 01 0.00 0.00 0450,000.00 0.00 0450,000.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1 3 4 2 0 69 ~~355~~921,~~419~~914.3184 ~~830~~998,~~057~~148.8976 722,000.00 0.00 12,~~907~~642,~~477~~063.2060 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~432277~~596125% 0.000000% 0.000000% 0.~~432277~~596125% 0.~~349141~~442086% 0.000000% 0.000000% 0.~~349141~~442086% 30 Days 0.~~144092~~149031% 0.000000% 0.000000% 0.000000% 0.~~144092~~149031% 0.~~149498~~111425% 0.000000% 0.000000% 0.000000% 0.~~149498~~111425% 60 Days 0.~~000000~~149031% 0.000000% 0.~~144092~~000000% 0.000000% 0.~~144092~~149031% 0.~~000000~~157417% 0.000000% 0.~~114409~~000000% 0.000000% 0.~~114409~~157417% 90 Days 0.~~000000~~149031% 0.000000% 0.~~144092~~149031% 0.000000% 0.~~144092~~298063% 0.~~000000~~139480% 0.000000% 0.~~189280~~120471% 0.000000% 0.~~189280~~259950% 120 Days 0.000000% 0.000000% 0.~~000000~~149031% 0.000000% 0.~~000000~~149031% 0.000000% 0.000000% 0.~~000000~~199308% 0.000000% 0.~~000000~~199308% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~144092~~447094% 0.~~432277~~596125% 0.~~288184~~298063% 0.000000% 01.~~864553~~341282% 0.~~149498~~408322% 0.~~349141~~442086% 0.~~303690~~319778% 0.000000% 01.~~802329~~170187%

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 4.~~480085~~591931% Weighted Average Net Coupon 4.~~229387~~341209% Weighted Average Pass-Through Rate 4.~~219387~~331209% Weighted Average Maturity(Stepdown Calculation ) ~~350~~349 Beginning Scheduled Collateral Loan Count ~~716~~694 Number Of Loans Paid In Full 2223 Ending Scheduled Collateral Loan Count ~~694~~671 Beginning Scheduled Collateral Balance ~~246~~237,~~286~~723,~~681~~800.4494 Ending Scheduled Collateral Balance ~~237~~225,~~723~~766,~~800~~630.9452 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~237~~225,~~742~~781,~~634~~378.9350 Monthly P &I Constant ~~914~~934,~~965~~033.8757 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~237~~225,~~723~~766,~~800~~630.9452 Scheduled Principal (424,~~521~~357.~~85)~~41 Unscheduled Principal 811,~~567~~932,~~402~~813.3501

Filing Compare · Structured Adjustable Rate Mortgage Loan Trust